M-Class, the third generation sports utility vehicle from Mercedes Benz has been launched in India. Priced at Rs.56.9 lakh, the luxury vehicle comes with a conglomeration of technologies like settings for engine performance, mechanical transmission, anti-lock brake system, electronic constancy programme and electronic traction arrangement. The latest presentation will have a cost slash of 15% [...]
In its annual regulatory filing with the US Securities and Exchange Commission, Infosys has revealed that an amount of $10.7 million, which means over Rs 50 crore as total recompense to its top management. The top management includes directors and executive council members. Stating its records in the last financial year, Infosys said that it [...]
iGATE Corporation has announced its new identity after dropping Patni Computer from its brand name. The move comes a year after the acquisition of Patni by iGATE, a BPO and US based consultancy and technology. The new brand identity will be henceforth known as iGATE. “I have always articulated that Patni, being a family name, [...]
Air India has been slapped with a fine of USD 80,000 by the Transport department of the United States owing to the failure on the former’s part in posting its customer service and runway delay emergency strategy on its website. The charge also includes informing passengers effectively with regard to optional fees. The penalty happens [...]
An order regarding the export of one million tons of sugar will soon be issued by Ministry of Consumer Affairs, Food & Public Distribution. The matter was disclosed today in the Rajya Sabha by Minister for Commerce and Industry, Anand Sharma. Prior to this, India, being the world’s second largest producer of sugar, made an [...]
India’s top private sector banks ICICI Bank, HDFC Bank and Axis Bank have been placed under a 3 month review by global rating agency Moody’s Investors Services. Sources state that this could be for a possible downgrade. The review is being done owing to lower sovereign ratings of India. Currently, the ratings of standalone credit [...]
The Deputy Governor of Reserve Bank of India, KC Chakrabarthy has vouched for the strength of India’s financial system, where there was no need to raise any kind of alarm. The statement was made following the scaling down of India’s credit rating outlook to negative by Standard & Poor. He also added that correct report [...]
India has become the third largest economy in the world in purchasing power parity, over taking Japan. With this distinction, India joins United States and China. The purchase of power parity shows how much amount is required when it comes to purchasing of similar kinds of goods and services regarding 2 countries. The same is [...]
Woori Bank belonging to the Government of South Korea, with headquarters at Seoul has been set up in Chennai. The business venture begins with a capital of $35 million. “We will provide assistance to Korean companies that have entered the market ahead of us. Once that is done, we will focus on localisation, accommodating the [...]
Following a brief ascend in previous sessions, with prices recovering lows, there has been a decline in the purchase of gold in India. Dealers stated that the yellow metal in overseas markets traded at $1,657.89/ ounce. This led to recovery of 1.61% from the previous day’s low of $1,631.70. On the Multi Commodity Exchange, gold [...]
