Entertainment Network (India) Ltd, or ENIL, the operator of India’s No.1 FM radio channel Radio Mirchi, on Friday posted total revenue of Rs 37 crore for the first quarter ended June 30. This was nearly 72% lower compared to Q1FY20 due to lockdowns. However, cost-control initiatives resulted in a 27% lower other operating costs, even … Continue reading Radio Mirchi revenue falls 72%, but market share expands

Four cabin crew members of the Air India Express flight that crash landed at the Karipur airport are safe, the national transporter said on Saturday. “The four cabin crew members are confirmed safe,” Air India Express said in a bulletin.

China on Saturday slammed the United States for imposing “barbarous” sanctions in response to Beijing’s crackdown in Hong Kong, capping a dramatic week of deteriorating relations between the world’s two biggest economies.

Mahindra & Mahindra (M&M) is putting all its subsidiaries — including non-core businesses in India and also North American automotive operations — under the scanner to see if they meet the threefold criteria of 18% RoE (return on equity), clear profitability and strategic importance.

To boost ‘self-reliant India’ endeavour, Union minister Nitin Gadkari on Saturday urged the industry to identify the sectors heavily reliant on imports, particularly from China, and look for substitutes towards indigenous production to make India a super power. He also said that a host of initiatives including redefining the MSME definition will yield rich dividends.

Mukesh Ambani has surged past Europe’s wealthiest man, making him the world’s fourth-richest person. Reliance Industries Ltd’s chairman is now worth $80.6 billion, after amassing $22 billion this year. That gives him a bigger wealth pile than France’s Bernard Arnault, whose LVMH Moet Hennessy Louis Vuitton SE has suffered from customers curbing high-end purchases.

Account-holders will soon be able to send to their bank the details of a high-value cheque they issue to third parties, which will enable safer and faster clearance of cheques above Rs 50,000.

President Donald Trump on Thursday ordered an unspecified ban on “transactions” with the Chinese owners of the consumer apps TikTok and WeChat, although it remains unclear if he has the legal authority to actually ban the apps from the US. The orders’ wording is vague, but leaves open the possibility that hosting them on Apple … Continue reading Trump bans dealings with Chinese owners of TikTok, WeChat

Mark Zuckerberg’s net worth passed $100 billion for the first time Thursday after Facebook Inc. hit a record high on optimism about the release of its TikTok competitor Reels. The 36-year-old joins fellow tech titans Jeff Bezos and Bill Gates as the only people in the world who currently have centibillionaire status.

Facebook Inc will allow employees to work from home until July 2021 due to the coronavirus outbreak and will give them $1,000 for home office needs, a spokeswoman for the social media giant said on Thursday. The company joins other big technology firms that have taken similar steps recently.

The latest spending patterns of Indians reveal just how deeply concerned they are with protecting their health and fortifying their store-cupboards, warding off boredom and keeping their homes neat. Sales of packaged foods have surged since March. Sales of juicers etc have quadrupled and demand for ayurvedic products is high. Demand for vacuum cleaners has … Continue reading What Indians are buying during Covid times

The country’s foreign exchange reserves hit an all-time high of $534.568 billion after surging by massive $11.938 billion in the week ended July 31, the Reserve Bank of India (RBI) data showed. While announcing the monetary policy on Thursday, RBI governor Shaktikanta Das said the reserves at $534.6 billion are equivalent to 13.4 months of … Continue reading Forex reserves climb to all-time high of $534.5bn

Serum Institute of India (SII) on Friday said it has entered into a new partnership with international vaccine alliance Gavi and Bill & Melinda Gates Foundation to accelerate manufacturing and delivery of up to 100 million doses of COVID-19 vaccines for India as well as other low and middle-income countries (LMICs).

Finance minister Nirmala Sitharaman on Friday said taxpayers are nation-builders and the government would come out with a charter of rights for them. The minister also said the government has taken several measures towards simplification, improving transparency and moderation in rates as part of efforts to bring in ease for honest taxpayers.

At least 17 people onboard an Air India Express flight from Dubai lost their lives when the Boeing 737 overshot the Kozhikode/Calicut tabletop runway on landing at 7.41 pm on Friday. The aircraft, with 190 people on board, “fell off” the runway into a 35-feet deep valley and broke into two.

Cognizant is being called the new CEO factory. Senior executives leaving the company following new CEO Brian Humphries’ restructuring initiative are finding top roles in others, despite the difficulties caused by the Covid-19 pandemic. Most are being hired by companies much smaller than Cognizant, perhaps to take advantage of their experience in scaling up.

American cult bike maker Harley-Davidson is downsizing its operations in India and understood to have laid off workers as business has slowed down in the wake of the coronavirus pandemic and outlook remains shaky. The company is slashing production at its assembly operations at Bawal in Haryana.

Health insurance claims related to Covid-19 are inching towards the one-lakh mark, with the value of the claims at around Rs 1,400 crore. Even as Mumbai continues to lead in the number of cases, claims from Delhi and Chennai are steadying, while Bengaluru private hospitalisation claims are on the rise.

A tie-up of TikTok with Microsoft could extend American dominance of the online and social media world. But it may have some unintended, negative consequences too for US firms and the open internet.