Wednesday, August 12

Business

Hyundai Launches New ‘I Choose Hyundai’ Campaign in India
Business

Hyundai Launches New ‘I Choose Hyundai’ Campaign in India

Hyundai Motor India recently launched its new brand campaign titled 'I Choose Hyundai'. This comprehensive campaign focuses on Hyundai's wide range of products, popular among people across India, with the theme #IndiaDriveHyundai. The 'I Choose Hyundai' campaign shows why Indian customers prefer Hyundai, emphasizing the variety of models, transmissions, features, and fuel options available. To connect easily with regional audiences, the TV ads are available in six regional languages: Marathi, Bengali, Telugu, Kannada, Malayalam and Tamil ensuring a strong and enduring impact across different regions. Speaking about the campaign, Mr. Tarun Garg, COO, Hyundai Motor India Limited, said: "Our latest campaign, 'I Choose Hyundai', exemplifies HMIL's unwavering commitment to curating innov...
Vodafone Idea shares progress more than 4%, up 26% in a month; What’s driving the rally here
Business, News

Vodafone Idea shares progress more than 4%, up 26% in a month; What’s driving the rally here

Shares of Vodafone Idea rose 3.51 percent after the telecom service provider reported it met its 5G rollout obligations across all circles. The company has 5G spectrum in 17 circles and has met the rollout needs for both spectrum bands.According to CNBC Awaaz, Vodafone Idea has completed network testing in both spectrum bands conducted by the Department of Telecommunications and has fulfilled its rollout obligations, incurring a fine of around ₹1 crore.In particular, it is mandatory to meet rollout obligations as per the license terms. Failure to complete the rollout on time could have resulted in action against the company, potentially leading to cancellation of Vodafone Idea's 5G spectrum. The company faced a time limit of August 15, 2024.Earlier this week, Vodafone announced the sale o...
Navigating Health and Choice: India’s Evolving Strategy on Tobacco Control
Business

Navigating Health and Choice: India’s Evolving Strategy on Tobacco Control

India faces a significant burden of disease, with a significant percentage of deaths due to non-communicable diseases like heart disease, stroke, cancer, and diabetes. NCDs are largely preventable through healthy lifestyle choices, such as eating a healthy diet, getting regular exercise, and not smoking, or at least adopting responsible smoking choices. Nirupama Soundararajan and Arindam Goswami, in a recent article, put light on balancing health and choices. Nirupama and Arindam are both Partners at Policy Consensus Centre and are authors of the report “Re-evaluating the Ban on Alternatives to Conventional Smoking Tobacco Products”. India has implemented policies to promote a tobacco-free country, aiming to improve public health and reduce tobacco harm. However, it cannot achieve comp...
Randeep Hooda and Blackberrys launch heartwarming Father’s Day campaign
Business

Randeep Hooda and Blackberrys launch heartwarming Father’s Day campaign

In a tribute to fathers everywhere, leading menswear brand Blackberrys has teamed up with acclaimed actor Randeep Hooda for a new Father’s Day campaign. Known as India’s 'fit expert' for over three decades, Blackberrys celebrates dads who inspire their children to #KeepRising through life's ups and downs. The campaign features a touching film where Randeep Hooda and his father, Ranbir Hooda, share a candid conversation about the pivotal role Mr. Hooda played in his son's successful acting career. Despite coming from a non-filmy background, Mr. Hooda’s unwavering support and encouragement were instrumental in Randeep's rise to stardom. Dressed in impeccably tailored Blackberrys attire, the duo embodies the brand’s commitment to quality and style."My father has always been my pillar of s...
Uber Green electric vehicles launched in Kolkata
Business

Uber Green electric vehicles launched in Kolkata

Uber on Thursday(20th June 2024) announced the launch of its flagship electric vehicle service, Uber Green, in Kolkata, marking a step towards eco-friendly urban transportation. Now, Uber stands as the second ride-hailing service provider to offer EVs in the city, following Snap E, another brand operating with an all-EV fleet. "Enhancing the air quality in Kolkata is a shared duty we all must embrace. I commend Uber for introducing 'Uber Green' in Calcutta, a significant step towards reducing carbon emissions in our city," West Bengal Transport Minister Snehasis Chakraborty said. "This service allows residents to book zero-emission rides with ease through the Uber app, promoting sustainable travel across the city, including routes to and from Kolkata international airport," Uber ...
SBI to upgrade ₹20,000 crore through long-term bonds in FY2025
Business, News

SBI to upgrade ₹20,000 crore through long-term bonds in FY2025

State Bank of India (SBI) announced board approval to raise up to ₹20,000 crore through long-term bonds in FY 2024-25. The central board meeting on June 19, 2024, approved raising funds through public issue or private placement.At the time of writing, SBI shares are trading at ₹846.65 which is 0.70% lower than its previous close. The stock has seen a total rise of 49% in the past year and 32% since the beginning of the year.In January, SBI raised ₹5,000 crore through perpetual bonds at a coupon rate of 8.34%. In the last financial year, SBI had issued 15-year infrastructure bonds to raise ₹20,000 crore.Earlier this month, SBI's London branch raised $100 million through three-year senior unsecured floating-rate bonds priced 95 basis points above the secured overnight financing rate (SOFR)....
Direct tax collections progress 21% to Rs 4.62 lakh crore from higher corporate advance tax
Business, News

Direct tax collections progress 21% to Rs 4.62 lakh crore from higher corporate advance tax

The first installment of advance tax, which was due on June 15, saw accumulation inflation 27.34% to Rs 1.48 lakh crore. This includes Corporation Income Tax (CIT) of Rs 1.14 lakh crore and Personal Income Tax of Rs 34,470 crore. Net direct tax collections have jumped by 21 percent to over Rs 4.62 lakh crore so far this financial year due to higher advance tax payments by corporates. The first installment of advance tax, which was due on June 15, saw collections inflation 27.34% to Rs 1.48 lakh crore. This includes Corporation Income Tax (CIT) of Rs 1.14 lakh crore and Personal Income Tax (PIT) of Rs 34,470 crore. According to the CBDT (Central Board of Direct Taxes), the net direct tax collections of Rs 4,62,664 crore (till June 17, 2024) include CIT of Rs 1,80,949 crore and PIT...
US retail sales in May flourish just 0.1% from April as still-high inflation curbs spending
Business, News

US retail sales in May flourish just 0.1% from April as still-high inflation curbs spending

Consumers barely up spending in May compared to April as still-high inflation and high interest rates curbed spending. According to the Commerce Department, retail sales rose 0.1 percent in May, slower than the pace expected by economists. And April sales were revised downwards – down 0.2 percent from unchanged. Sales rose 0.6 percent in March and 0.9 percent in February. This comes after a 1.1 percent decline in sales in January, which was partly due to bad weather. Excluding gas prices and auto sales, retail sales increased by the same amount. Excluding gasoline sales, whose prices are falling, sales rose 0.3 percent. Retail sales data gives only a partial look at consumer spending because it doesn't include things like travel and lodging. However, sales at restaurants, the only s...
Jio’s network is down, people unable to use mobile internet or fiber 
Business

Jio’s network is down, people unable to use mobile internet or fiber 

Jio, a leading telecom provider, experienced a huge network outage, impacting thousands of users across the country on Tuesday(18th of June 2024), with widespread complaints about the inability to use essential social media applications such as YouTube, WhatsApp, Snapchat, Instagram and Google. Downdetector, a platform monitoring real-time outages, recorded complaints from 2,437 individuals facing connectivity issues with their Jio services. The problem turned worst around 1:42 PM, resulting in widespread disruption for users who depend on the network for important communication and internet access. Several users took to X (formerly Twitter) to address their grievances. A user wrote, "#Jio network is down for Google, Swiggy & major websites. Whereas, WhatsApp, Jio’s own platform...
SBI araise MCLR by 10 bps for all tenors
Business, News

SBI araise MCLR by 10 bps for all tenors

State Bank of India (SBI) has increased the marginal cost of funds-based lending rate (MCLR) by 10 basis points (bps) for all tenors. The MCLR hike by SBI comes days after the Reserve Bank of India (RBI) left the key policy rate unchanged.This move is likely to be followed by other lenders, resulting in loans becoming costlier for borrowers.The country's largest lender has revised the one-year MCLR from 8.65 percent to 8.75 percent. Overnight MCLR has been increased from 8 percent to 8.1 percent. One and three month MCLR has been increased to 8.3 percent from earlier 8.2 percent.The revised MCLR for two-year and three-year MCLR is 8.85 percent and 8.95 percent respectively. The new rates have become effective from today.Last week, the RBI's Monetary Policy Committee (MPC) left the repo ra...