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TV players hail import duty scraping, to pass benefit to consumers TV players hail import duty scraping, to pass benefit to consumers

 

New Delhi, The TV manufacturers and trade bodies on Wednesday welcomed the scraping of import duty on open cell LED TV panel, saying it would not only boost sales of TVs in the festive season but also allow brands to push sales for bigger TV sets. The TV players also announced to pass the benefits to the consumers.

In a late night notification on Tuesday, the Finance Ministry scrapped the import duty on open cell LED TV panel from 5 per cent to zero.

Oil shock: Sensex loses 642 points, auto, banks worst hit Oil shock: Sensex loses 642 points, auto, banks worst hit

 

Mumbai, Indian equities plunged on Tuesday after the weekend attacks on Saudi Arabias oil facilities resulted in the suspension of nearly 6 per cent of the worlds crude production, sending shock waves across global financial markets.

Heightened nervousness was evident on Dalal Street from the sharp jump in the 'fear index' -- 'India VIX' -- which closed nearly 7 per cent higher.

After JioFiber, Airtel launches 1Gbps broadband plan After JioFiber, Airtel launches 1Gbps broadband plan

 

New Delhi, In a direct challenge to JioFiber, telecom major Bharti Airtel on Wednesday launched its ultra-fast broadband offering, Airtel Xstream Fibre, at Rs 3,999.

The announcement comes barely a week after Reliance Jio commercially rolled out its fiber-to-the-home (FTTH) service "JioFiber" across 1,600 cities in India where the users will have an integrated experience of broadband, on-demand entertainment, free HD voice calling, TV video calling and unlimited data, among others.

Besides "unlimited" broadband at 1Gbps speed, Airtel Xstream Fibre also offers "unlimited landline calls" to any network in India along with benefits such as three months Netflix subscription gift, one year Amazon Prime membership and access to premium content from ZEE5 and Airtel Xstream app, the company said.

India's forex reserves down by $446 mn India's forex reserves down by $446 mn


Mumbai, India's foreign exchange reserves declined by $446 million during the week ended August 30, official data showed on Friday.

According to the Reserve Bank of India's weekly statistical supplement, the overall forex reserves declined to $428.60 billion from $429.05 billion reported for the week ended August 23.

Ashok Leyland August sales drop by 47% Ashok Leyland August sales drop by 47%

 

Chennai, Commercial vehicles major Ashok Leyland Ltd closed last month with a 47 per cent drop in sales, the company said on Tuesday.

In a statement issued here, the company said that it sold a total of 9,231 units in August, down from 17,386 units sold during the corresponding month in 2018.

Crash-&-burn: Aug auto sales may plunge; 30% fall seen Crash-&-burn: Aug auto sales may plunge; 30% fall seen


New Delhi The slowdown nightmare for the automobile industry is expected to continue for August as analysts estimate an overall sales downfall of up to 30 per cent.

In a survey conducted by IANS, industry experts were quick to point out that August will be far worse in sales than July, especially due to havoc caused by Monsoon rains across India.

They estimated that sector might face an overall sales downfall of up to 30 per cent on a year-on-year basis, with passenger vehicle segment being the worst hit.

US dollar rises against British pound US dollar rises against British pound


New York, The US dollar rose against the British pound in late trading after the Queen Elizabeth has approved a request by British Prime Minister Boris Johnson to suspend Parliament just weeks before the Brexit deadline on Oct 31.

The Queen approved the order to prorogue parliament no earlier than Sept 9 and no later than Sept 12. It will return with the Queen's speech on Oct 14, just two weeks before the scheduled Brexit date.

Auto slowdown: SBI waives processing fee on car loan, more PSBs to follow Auto slowdown: SBI waives processing fee on car loan, more PSBs to follow

 

New Delhi, In a bid to boost car sales amid piling inventories, the State Bank of India (SBI) on Tuesday waived processing fee on car loans during the upcoming festival season and is also offering the lowest interest rate starting 8.70 per cent on car loans, with no escalation in interest.

The move is likely to be followed by other PSBs in different formats to make credit cheaply available to the buyers. Officials from at least three public lenders said they would respond to the SBI move in their own way to benefit auto buyers during the festival season.

Hyundai launches Grand i10 Nios @ Rs 4.99-7.99 lakh Hyundai launches Grand i10 Nios @ Rs 4.99-7.99 lakh



New Delhi Automobile major Hyundai Motor India (HMIL) launched the Grand i10 Nios, priced between Rs 4.99 lakh and Rs 7.99 lakh, here on Tuesday.

The Grand i10 Nios is the third generation in "i10" series after i10 and Grand i10 models and offers BS-VI petrol compliance.

According to the company, the vehicle comes with an option of a 1.2 BS6 petrol and 1.2 U2 diesel engine mated with either 'MT' (manual transmission) or in-house developed "smart auto" (auto-manual) transmissions.

Jio GigaFiber's commercial services start Sep 5 Jio GigaFiber's commercial services start Sep 5



Mumbai, Reliance Industries (RIL) Chairman Mukesh Ambani on Monday announced the launch of Jio GigaFiber and said that the services would be available commercially from September 5.

Speaking to shareholders at the 42nd Annual General Meeting (AGM), Ambani said that the tariff plans would be priced between Rs 700 and Rs 10,000 per month.

"We are pricing our plans at less than 1/10th the global rates, to make it accessible for all. JioFiber plans will be priced between Rs 700 to Rs 10,000 per month to suit every budget and every need," he said.

Just rate cut not enough to boost realty market: Developers Just rate cut not enough to boost realty market: Developers



Mumbai, Real estate developers have joined the industry chorus to welcome the 35 basis points (bps) cut in repo rate but market players and experts also stressed the fact that the mess in the construction sector and the ongoing demand slowdown is of such magnitude that only a rate cut is unlikely to boost subdued sentiments.

Anuj Puri, Chairman of Anarock Property Consultants, said that the hard facts of declining consumption and a deepening economic slowdown in India are inescapable, and real estate has been severely impacted by them.

Equities, currency tumble over weak global cues, J&K decision Equities, currency tumble over weak global cues, J&K decision

 

Mumbai, The equity and currency markets declined on Monday over heightened trade tension between the US and China, and the political developments in Jammu and Kashmir (J&K).

Union Home Minister Amit Shah earlier in the day proposed to revoke Article 370 of the Constitution which gives special status to Jammu and Kashmir and said the state will be split into two Union Territories: Jammu and Kashmir with an Assembly and Ladakh without one.

GST Council slashes tax on EVs and EV chargers GST Council slashes tax on EVs and EV chargers

 

New Delhi, Close on the heels of Union Budget providing tax relief for buying electric vehicles, the GST Council in its 36th meeting on Saturday cut the tax on electric vehicles (EV) from 12 per cent to 5 per cent effective August 1, 2019.

The Council has also slashed rate for EV chargers from 18 per cent to 5 per cent making electric vehicle affordable for the buyers.

Sensex ends in green after 6 days of decline Sensex ends in green after 6 days of decline

 

Mumbai, The Sensex and the Nifty on Friday snapped out of their 6-day-long losing streak, to offer some respite on the last day of the week.

Sensex closed 51 points higher at 37,882.79 from its Thursday's close of 37,830.98, while the broader Nifty settled 32.15 points higher at 11,284.30.

Sensex ends lower for the 6th day; auto, steel scrips lose Fuel subsidies 3 times higher than e-vehicle budget: Report Govt may close NTPC-SJVNL, IOC/BPCL-GAIL M&A deals in FY20 With no respite for FPIs, Sensex nosedives 560 pts United to resume flights to India on September 6 Reliance Power enters into Inter-Creditor Agreement with lenders Sensex logs heaviest fall in 7 months as Budget fails to deliver PNB reports Rs 3,805 cr fraud by Bhushan Power & Steel Sensex slumps 460 points post Budget presentation FICCI recommends tax incentives for movie theatres Huawei Mate 30 5G launching in December: Report Ambrane launches its BIG BATTERY, 20000 mAh Lithium Polymer Power Bank H55's fully electric airplane takes off in Switzerland China opposes 'politicization' of Huawei issue in India Facebook's digital currency 'Libra' coming in 2020 RBI panel to review liquidity management framework Uber, Indian Oil to offer fuel discounts to drivers Enhance your Cinematic experience at Homes, with Truvison Home Theatre Speaker April passenger cars sales down 20% Market to stay volatile but with an upward bias Mukesh Ambani breaking all barriers to connect next billion Mudra loans may cross Rs 3 lakh cr in 2019-20 Sensex ends below 39k, India VIX 5% up Mahindra Group, Ford to co-develop midsize SUV We will send you to jail: SC to Ranbaxy brothers Banks, others may lose over Rs 90,000 crore as Videocon sinks Jet pilots defer mass leave decision to April 15 Verka Launches Premium Ice Creams, Amour Ambrane announces Moon Shaped, Portable Bluetooth Speaker ‘BT 2900’, RCOM stocks jump 10% after it pays dues to Ericsson