businessfortnight

General Motors has hired away Delta Airlines’ CFO to fill the automaker’s top financial job. The Detroit-based company said on Friday that Paul Jacobson will start the new position on December 1. The 48-year-old Jacobson has been the airline’s CFO for the past eight years. He’ll replace Dhivya Suryadevara, who left GM in August for Silicon Valley payments startup Stripe. GM said that Jacobson joined Delta as a financial analyst in 1997 and also served as senior vice president and treasurer. Delta is widely viewed by Wall Street as the best-run US airline, and was the most profitable carrier for the past decade.

Prime Minister Narendra Modi on Saturday paid tribute to former prime minister Indira Gandhi on her 36th death anniversary. The then prime minister was assassinated by her bodyguards here in 1984. “Tributes to our former PM Smt. Indira Gandhi Ji on her death anniversary,” Modi tweeted. The prime minister had paid tribute to Gandhi in his monthly Mann ki Baat radio broadcast last Sunday as well. “On the 31st of October we lost former Prime Minister of India, Smt. Indira Gandhi. I most respectfully pay my tributes to her,” he said.

Mitron, the homegrown short-form video sharing app, has launched Atmanirbhar Apps on Google Play as a platform to discover apps made In India for varied services and needs. Atmanirbhar Apps looks to take forward Indian Prime Minister Narendra Modi’s Atmanirbhar Bharat initiative, providing a quick portal for indigenous apps to users. The app offers recommendations based on categories like business, e-learning, news, health, shopping, games, utility, entertainment, social, and more. As of now, Atmanirbhar Apps is only available for downloads on Android devices. Atmanirbhar Apps is available for free on Google Play. It allows you to explore and discover over 100 Indian apps made by local developers. It also has the option to take the Atmanirbhar Pledge to support Atmanirbhar Bharat initiative started by Narendra Modi. The app requires no registration, and once downloaded, it straightaway throws up recommendations of all the Indian apps a user can download. This includes Aarogya Setu, BHI

India reported a daily jump of 48,268 coronavirus infections in 24 hours, taking its tally past the 81-lakh mark, the Health Ministry data this morning showed.The number of cases in the country now stand at 81,37,119. In the 24-hour period, India, which is the second worst-hit country, reported 551 deaths linked to the virus, taking the total number of fatalities to 1,21,641. The national recovery rate crossed 91 per cent, the fatality rate remains at 1.49 per cent. More than 59,454 successfully fought off the viral disease taking the overall recoveries to 74 lakh, the data showed. Around 5.82 lakh people are currently receiving treatment for COVID-19, symptoms of which may become more severe as the winter sets in. It is for the first time after 85 days that the active caseload has gone below six lakh, the government said. The active caseload is just 7.35 per cent of the total positive cases, it said. A total of 10,87,96,064 samples had been tested for COVID-19 till October 30, accordi

Former Madhya Pradesh Chief Minister Kamal Nath has approached the Supreme Court challenging the Election Commission’s decision to remove him as a “star campaigner” ahead of the by-elections in the state next week. The powerful election body had said the 73-year-old leader’s star campaigner status was being revoked for “repeated violation of model code of conduct” and for “complete disregard” of warnings to him. Kamal Nath, being a leader of a political party, had repeatedly “breached ethical and dignified behaviour”, the commission said in its order. If the former chief minister does campaign, the cost of his travel, stay and everything else will be from the candidate’s limited poll expenses. A “star campaigner’s” expenses go to the party account and can be unlimited. Challenging the order, Kamal Nath told the court, “It is right of the party to nominate a person as a star campaigner and the Election Commission cannot interfere with the party decision. The decision is a breach of the

The new Golf R gets an all-wheel drive system featuring selective wheel torque control on the rear axle. The all-wheel drive system is controlled by a Vehicle Dynamics Manager that has been closely integrated with other running gear systems such the electronic front differential lock (XDS) and adaptive chassis control DCC. Under the hood is a 2.0-litre four-cylinder turbocharged power plant in the most powerful version of the EA 888 engine series. It punches out hefty 296 bhp and the high-tech, direct-injection engine is characterised by innovative solutions for individual details, such as integration of water-cooled exhaust gas routing to the turbocharger in the cylinder head or variable valve timing with dual camshaft adjustment. This will be the most powerful Golf R ever to be made by the company ever since it first entered into global markets in 2002. The power figures in almost two decades have gone up by 59 bhp and it is the hottest hatch out there. We will know more about the ca

Amazon.com Inc has complained to the Securities and Exchange Board of India (Sebi) that its local partner Future Retail misled shareholders by incorrectly saying it was complying with its contractual obligations to the US e-commerce giant, a letter seen by news agency Reuters shows. Amazon is locked in a bitter legal dispute with Future Group, which in August sold its retail assets to billionaire Mukesh Ambani-led Reliance Industries for $3.4 billion. The deal, Amazon alleges, breaches 2019 agreements by Future. The tussle has strained Amazon’s ties not just with Future Retail – one of India’s top retailers – but also with Mr Ambani, Asia’s richest man, and his Reliance group, which is fast expanding its e-commerce business and threatening companies like Amazon. Amazon last Sunday won an injunction to halt Future’s deal with Reliance Industries from a Singapore arbitrator both sides had agreed to use in case of disputes. The Indian retailer then said in a news release it had complied w

ICICI Bank on Saturday reported a net profit of ₹ 4,251.33 crore for the July-September period, marking a more than six-fold increase compared to the corresponding period a year ago. A pickup in credit growth on account of easing coronavirus-related restrictions along with reduction in bad assets boosted the private sector lender’s profitability. ICICI Bank had posted a net profit of ₹ 654.96 crore in the quarter ended September 30, 2019. ICICI Bank’s net interest income (NII) – or the difference between interest earned and interest paid – increased 16.24 per cent to Rs 9,366.09 crore in the quarter ended September 30, from ₹ 8,057.43 crore in the year-ago period. Its net interest margin – a key measure profitability – stood at 3.57 per cent in the three months to September 30, lower than 3.69 per cent in the previous quarter and 3.64 per cent in the second quarter of financial year 2019-20. ICICI Bank’s core operating profit – or profit before provisions and taxes – grew 18 per cent y

The rupee ended marginally higher at 75.53 against the US dollar on Thursday, following four days of losses. It moved in a range of 25 paise, between 73.53 and 73.78 against the greenback, having begun the day weaker at 73.77 compared to its previous close of 73.58. Selling of dollars by exporters supported the rupee, however a gain in the greenback overseas limited the upside, according to analysts.  The dollar index – which measures the US currency against six peers other than the rupee – appreciated as much as 0.34 per cent on Thursday, as market hopes for a US coronavirus aid package ahead of the presidential elections waned. Domestic share markets ended lower amid selling pressure in financial and IT stocks, tracking broader market sentiment on concerns over a setback to US stimulus talks and a spike in global COVID-19 cases. The S&P BSE Sensex index ended 0.37 per cent lower at 40,558.49 and the broader NSE Nifty 50 benchmark closed down 0.35 per cent at 11,896.45, both snapp

Qatar said on Friday that those responsible for the invasive gynaecological searches of women passengers at Doha airport had been referred for prosecution over the “violations”. Women on 10 flights out of Doha were subject to the examinations as authorities searched for the mother of a newborn baby found abandoned in an airport bathroom on October 2. “Those responsible for these violations and illegal actions have been referred to the Public Prosecution Office,” the Government Communications Office said in a statement. “The Prime Minister and Minister of Interior expressed the Government of the State of Qatar’s sincerest apology for what some female travelers went through as a result of the measures. New Zealand said late Thursday that one of its citizens was among the women subjected to the invasive examinations, labelling the action “completely unacceptable”.

Moto E7 has leaked on several occasions in the past, and it has now been spotted on several certification sites hinting that the launch may be not be too far. The phone has been spotted on US Federal Communications Commission (FCC), National Broadcasting and Telecommunications Commission (NBTC) in Thailand, and TUV certification sites. While the Moto E7 Plus has been unveiled last month, there is still no official confirmation about the launch of the Moto E7. Past leaks suggest a dual camera setup on the back of the Moto E7. 91Mobiles spotted the Moto E7 on FCC, NBTC, and TUV sites. The phone is listed with the model number XT2095-3 on NBTC and it doesn’t reveal any details apart from the associated name with this model number. A variant of the Moto E7 with the model number XT2095-1 was spotted on FCC and it is listed with in-box accessories like AC Adapter, Battery, Earphone, and USB Cable.The TUV certification lists a KG40 battery model hinting that the Moto E7 may pack a 4,000mAh ba

Bharat Petroleum Corp has put on hold its plans to expand its Bina refinery and install a secondary unit at its Mumbai refinery to boost efficiency pending privatisation of the company, its head of finance N. Vijayagopal said. The government wants to sell its 53.29 per cent stake in BPCL, the country’s second-largest state-run refiner, to raise funds to rein in a ballooning fiscal deficit. “It is for the new owner to decide whether they want and have the flexibility to add refining capacity,” Mr Vijaagopal told an analyst conference. BPCL wanted to install a residue fluid catalytic cracker at the Mumbai refinery and connect the plant with a new site where it wanted to build an ethylene cracker.

World stocks fell further and oil headed for a double-digit weekly slide on Friday as jitters over a rising global COVID-19 infection rate and next week’s US presidential election more than offset strong euro zone quarterly growth data. A strong central bank-fuelled bounce back from the initial pandemic slide earlier in the year has faltered this week, with concerns about an even worse second wave of infections, particularly in Europe, taking the froth off markets. “The US election, the extent of further lockdown measures, Brexit negotiations and vaccine news all present both upside and downside risks over the coming weeks and it is understandable that investors may want to proceed with caution,” said Mark Dowding, chief investment officer at BlueBay Asset Management. World stocks were down 0.3 per cent at 0925 GMT (2:55 pm in India), tracking weakness in Asia, while US stock futures were down 1 per cent to 1.3 per cent. Gold rose, with spot prices climbing 0.3 per cent to $1,873 an ou

The Bombay Stock Exchange (BSE) will consult the market regulator and seek clarifications from Future Retail and Reliance Industries about their $3.4 billion transaction, following Amazon’s objection to the deal, an exchange source said. Amazon on October 25 won an injunction from a Singapore arbitrator to halt Future’s deal to sell retail assets to Reliance, arguing the Indian retailer group breached certain contract provisions it entered into last year in a separate deal with the US firm. Both Indian firms reacted to the decision by saying they want to complete the deal “without any delay”. Amazon has now written to capital markets regulator SEBI, as well as the BSE and the National Stock Exchange, to put the deal on hold in light of the arbitration order, two separate sources said. A BSE source said it will consult SEBI about its stance on the deal and the exchange later on Friday also plans to seek clarification from Future and Reliance Retail. SEBI and the stock exchanges did not

Amazon.com Inc on Thursday forecast a jump in holiday sales – and costs related to COVID-19 – as consumers continued to shop more online during the pandemic. A company executive added that heightened spending on delivery infrastructure would likely continue over years, and shares fell 2 per cent in after-hours trading. Since the start of the virus outbreak in the United States eight months ago, consumers have turned increasingly to Amazon for delivery of groceries, home goods and medical supplies. Brick-and-mortar shops closed their doors; Amazon by contrast moved to recruit over 400,000 workers and earned $6.3 billion in the just-ended quarter, its second consecutive record profit. That has kept the world’s largest online retailer at the center of workplace and political tumult. Democratic politicians this month accused Amazon of holding “monopoly power” over merchants on its platform, which the company disputes. Meanwhile, more than 19,000 of Amazon’s U.S. employees contracted COVID-

Kamal Nath is no longer a “star campaigner” in Madhya Pradesh by-polls, the Election Commission ordered today after a series of controversial remarks by the Congress leader. The powerful election body said his star campaigner status was being revoked for “repeated violation of model code of conduct” and for “complete disregard” of warnings to him. If the former chief minister campaigns, the cost of his travel, stay and everything else will be completely paid by the candidate.

The Hyundai i20 is an important model for the Korean carmaker in India. The premium hatchback segment continues to show growth and large volumes, and the Hyundai i20 along with the Maruti Suzuki Baleno has dominated the space for the past few years. The i20 has sold 1.1 million units in India, and overall production for the model line is at 1.6 million units, with half a million in exports. Now with the arrival of the new generation i20, Hyundai says it was time to improve the benchmarks set by the previous car. And the good news is that its not just on the connectivity, tech or gadgets side, but also safety. The new generation Hyundai i20 is set to be the safest one yet – with increased equipment, but more crucially – better crash worthiness. For starters, the new Hyundai i20 uses nearly 15 per cent more advanced high strength steel as compared to the previous generation model. This takes total content of the advanced high strength steel to 66 per cent of the overall body. This not on

The country’s one-day coronavirus tally rose by almost 14 per cent with a jump of about 50,000 new COVID-19 infections taking its overall Covid numbers past the 80 lakh mark, the Health Ministry data shows. In the last 24 hours, the country reported 49,881 new cases of coronavirus as the total number of infected people till now shot to 80,40,203. The case rise reflects in the positivity rate, which was 4.6 per cent against Tuesday’s 4.1 per cent. The rise in new infections reflects the spread of the disease in some states as authorities brace for a new wave in the pandemic after Diwali, when the winter sets in. The list of states with highest cases is led by Kerala (8790), followed by Maharashtra (6,738), Delhi (5,673), West Bengal (3,924) and Karnataka (3,146), of which the first three states logged significantly higher Covid infections than on Tuesday. Together they account for 56 per cent of all cases reported yesterday. The unprecedented surge in Delhi has raised concerns, especial

Best wishes on Milad-un-Nabi. Hope this day furthers compassion and brotherhood all across. May everybody be healthy and happy. Eid Mubarak!” PM Modi said in a tweet. Eid Milad Un Nabi or Mawlid is being celebrated today in India, Pakistan, Bangladesh, Sri Lanka and other parts of the subcontinent. Eid Milad Un Nabi is celebrated in the third month of the Muslim lunar calendar. President Ram Nath Kovind in his greeting on the occasion of Milad-un-Nabi tweeted, “On the occasion of Milad-un-Nabi, the birthday of Prophet Muhammad, good wishes to all fellow citizens, especially to our Muslim brothers and sisters in India and abroad. Let us follow his teachings and work for the well-being of society and peace and harmony in the country.”      

Google-parent Alphabet said Thursday its profit climbed to $11.2 billion (roughly Rs. 83,300 crores) in the latest quarter, beating expectations, as ad spending rebounded after being hit by the pandemic. Money made from cloud computing offerings and from its Google Play shop for smartphones powered by its Android software also helped fuel the 42 percent jump in revenue to $46.2 billion (roughly Rs. 3,44,802 crores) in the quarter, the company said. “We had a strong quarter, consistent with the broader online environment,” said chief executive Sundar Pichai. Alphabet has spent years evolving YouTube from its roots as a free video-sharing to an online television platform competing with titans such as Netflix and Amazon Prime. “We expected Google’s ad revenues to recover across search, YouTube, and Network Members (in the quarter), and all three segments outperformed our expectations,” said analyst Nicole Perrin of eMarketer. She said the gains were especially true of YouTube and pointed

Prime Minister Narendra Modi strongly condemned on Thursday the recent terrorist attacks in France, including the heinous attack inside a church in Nice, and asserted that India stands with the country in the fight against terrorism. An attacker armed with a knife killed three people at a church in the city of Nice on Thursday. “I strongly condemn the recent terrorist attacks in France, including today’s heinous attack in Nice inside a church,” PM Modi said in a tweet. “Our deepest and heartfelt condolences to the families of the victims and the people of France. India stands with France in the fight against terrorism,” he said. India on Wednesday had strongly deplored the personal attacks against French President Emmanuel Macron following his tough stance on radical Islam, calling it a violation of the most basic standards of international discourse. In a strongly-worded statement, the Ministry of External Affairs (MEA) had also condemned the brutal terrorist attack that took the life

India’s gold demand in the fourth quarter is expected to recover after falling 30 per cent in the previous quarter as festivals are expected to strengthen retail jewellery purchases, the World Gold Council (WGC) said on Thursday. “We expect quarter four would be better than quarter three due to pent-up demand and festivals,” said Somasundaram PR, the managing director of WGC’s Indian operations. Demand for the precious metal usually spikes towards the end of the year in India, as buying gold for weddings and major festivals such as Diwali and Dussehra is considered auspicious. The country celebrated Dussehra earlier this month and jewellers reported improvement in footfalls and sales, said Somasundaram. But demand during fourth quarter would still be lower than the 194.3 tonnes recorded last year as consumers are struggling to adjust to near record high prices, he said. India’s gold demand in the first three quarters fell 49 per cent from a year earlier to 252.4 tonnes as coronavirus-t

Axis Bank shares rose more than 1 per cent in early trading after the bank, in a regulatory filing after market hours hours on Wednesday, reported return to profitability in the July-September quarter on the back of improvement in asset quality. The shares of Axis Bank rose 1.5 per cent to touch an intra-day high of ₹ 512.45 in early trading, and at 9:35 am, the shares were at ₹ 512, up 1.35 per cent. The country’s third largest private sector lender by market value got back into the black, reporting a net profit of ₹ 1,682.67 crore in the quarter ended September 2020 as against a net loss of ₹ 112.08 crore in the corresponding period a year ago, due to improvement in asset quality improved. Mumbai-based Axis Bank’s asset quality saw a slight improvement, with gross non-performing assets (NPAs) as a percentage of total advances at 4.18 per cent in the three-month period ended September 30, as against 4.72 per cent in the previous quarter. Axis Bank said its net interest income – the d

Industrial conglomerate Larsen & Toubro’s shares fell nearly 6 per cent on Thursday, a day after the company reported a quarterly loss from continuing operations on a standalone basis. In a regulatory filing after market hours on Wednesday, the infrastructure major said its net loss from continuing operations came in at Rs 1,767.10 crore in the July-September period, as against a net profit of ₹ 1,718.52 crore in the corresponding period a year ago. L&T shares slumped as much as 5.76 per cent to ₹ 927 apiece on the BSE on Thursday, having begun the day weaker at ₹ 953 on the bourse compared to their previous close of ₹ 983.65. However, L&T posted a net profit of Rs  6,716.51 crore from continuing and discontinued operations, as against ₹ 1,925.47 crore in the corresponding period a year ago.  Its revenue from operations stood at ₹ 15,791.68 crore in the second quarter of current financial year, from ₹ 18,748.21 crore in the year-ago period.  Weakness in the Larsen & Tou

Coinciding with the ongoing festive season in the country, IndianOil has come up with another initiative for customer convenience. It has started one common number for Indane LPG refill booking across the country. The common booking number for LPG refills for the whole country is 7718955555. It is available 24×7 for the customers. This common number for all-India LPG refill booking – through SMS and IVRS – is an important step to boost customer convenience and ease of booking Indane LPG refills. This means that even if customers move from one telecom circle to another across States, their Indane refill booking number remains the same. The current system of telecom circle-specific phone numbers for booking Indane LPG refills will be discontinued after 31.10.2020 midnight and the common booking number for LPG refills i.e. 7718955555, will be in force . Please note that Indane LPG booking can be done using the customer’s REGISTERED MOBILE NUMBER only. The revised process of LPG refil

The S&P BSE Sensex and NSE Nifty 50 indexes declined for second straight session on Thursday dragged down by weakness in heavyweights like Larsen & Toubro, HDFC, HDFC Bank, Hindustan Unilever, Axis Bank and Titan as future and derivative contracts for October expired. The benchmarks opened lower and extended losses in afternoon trading wherein the Sensex fell as much as 398 points and Nifty touched an intraday low of 11,606. The Sensex ended 173 points or 0.43 per cent lower at 39,750 and Nifty 50 index fell 59 points or 0.50 per cent to close at 11,671. Selling pressure was broad-based as all the 11 sector gauges, barring the index of information technology shares, compiled by the National Stock Exchange ended lower led by Nifty Media index’s nearly 2 per cent fall. Banking, auto, financial services, FMCG, metal, pharma and realty sector gauges also fell between 0.5-1 per cent. Mid- and small-cap shares also faced selling pressure as Nifty Midcap 100 index declined 0.43 per ce

India’s infrastructure output in September contracted 0.8 per cent from a year earlier, government data released on Thursday showed. Infrastructure output, which comprises eight sectors including coal, crude oil and electricity and accounts for nearly 40 per cent of industrial output, contracted 14.9 per cent in the six months through September from a year earlier, the data showed.

Civil Aviation Minister Hardeep Singh Puri on Thursday said bidding for Air India would be done on the basis of its enterprise value instead of equity value. Enterprise value of a company includes the equity value, debt as well as cash with the company. Equity value measures the value of a company’s shares. “We have decided to ask for bids for Air India on enterprise value,” Mr Puri said at a press conference. Aviation Secretary Pradeep Singh Kharola said at the conference, “The bid will be on the enterprise value… In this enterprise value also, a ratio has been earmarked between how much he (bidder) can take as debt and how much he has to give as cash.”

Vivo is reportedly replacing Funtouch OS with an all-new avatar and a name i.e. Origin OS. Noted tipster Digital Chat Station says that Vivo has confirmed this via its official WeChat account that they will launch Origin OS soon. The exact launch date is now known but Vivo will speak more about this brand new software during its 2020 Vivo developer conference on November 19. This conference is scheduled to be held in Shenzhen and it will focus on the new OS, IoT, apps, games, and other topics. SeekDevice cites tipster Digital Chat Station to report that Origin OS is all set to launch soon. This new software will replace Vivo’s current Funtouch OS. The tipster claims that Vivo has confirmed this development through its official WeChat account and says that more details on this OS will be shared during the developer conference. An exact date for the rollout of this new Origin OS is not known. There is also no clarity on which phone will get it first. While there is no information on all

The new-generation Mahindra Thar has been off to a flying start and that was expected. The euphoria around the new version was always high and it has only gone higher with each day as bookings have crossed the 15,000 mark. Much like the predecessor, the new Thar also allows you to personalise in many ways that only adds to the charm of the SUV. Mahindra also offers a range of accessories and kits to bring a different look for each customer. However, if you want something a lot more customised to your liking, DC2, formerly known as DC Design, has revealed the new Dress Kit for the 2020 Mahindra Thar The new Mahindra Thar Dress Kit is a custom body-kit for the SUV that can be bolted over the stock version. This includes newly designed front with a familiar seven-slat grille that sits close to the older model, while the bumper has been completely redesigned and sits higher as well. The lights are slimmer than the stock version and also get projector lens units. Do notice the bulge on the

Moderna, one of the front-runners in the race to develop a vaccine for the new coronavirus, said on Thursday it was preparing to launch the experimental vaccine and had already received $1.1 billion in deposits for supply. The Cambridge, Massachusetts-based company has signed deals with the US government and several other countries, and is in talks with a WHO-led group for supply of the vaccine, which is in large, late-stage human trials. While the company did not give a clear timeline on the release of data from these trials on Thursday, it has said that early data is expected in the coming weeks, depending on the number of infections seen in its 30,000-volunteer study. Moderna, which has no approved products on the market yet, is one of the handful of companies in final trials for the vaccine, along with large drugmakers like Johnson & Johnson and Pfizer. “I believe that if we launch our COVID-19 vaccine, 2021 could be the most important inflection year in Moderna’s history,” sai

Home is where the heart is! And its renovation could be expensive as you determine to transform your adobe into lovely penthouses that reflect your personality and promise you great comfort and style. But before you kick start with your home renovation plan, you need to catch this assignment as your special project that you’re commencing from scratch. If you’re not into hiring an architecture and willing to take charge of the project, then we have some super cool DIY ideas to turn your home into a beautiful mansion. The cherry on top, you’ll save a lot of money by doing it yourself.   The key to renovating your house economically solely depends on how effectively you plan the entire process. This is where the strategy, creativity, and resources come in handy. Let us take you through some creative yet easy quick hacks to turn your home into a beautiful adobe. Paint the Wall Yass! Do It First! It is the first thing that catches our attention in any house. So, add a charm by giving it a f

The Supreme Court today adjourned a hearing in the matter of waiving “interest on interest” on loans up to ₹ 2 crore, frozen during a six-month moratorium granted because of the coronavirus crisis, to Wednesday. The top court was due to hear the matter on Tuesday on a waiver of interest on deferred EMIs – or interest on interest – to help small borrowers during the coronavirus pandemic, after it told the government last week that its affidavit “fails to deal with several issues raised by petitioners” and asked for more details from the RBI and centre on their plan to help the borrowers. The outcome of the case could have far-reaching consequences not only for millions of borrowers, but also for banks. The government has already told the court it would waive the compound interest on loans up to ₹ 2 crore under a COVID-19 support plan, in a move that will bring relief to millions of borrowers. It has also said it would not be possible to further supplement the already-announced relief pa

Amazon on Thursday will announce its latest financial results, and Wall Street wants to know if it can keep up with shoppers’ heightened demand during the coronavirus pandemic. Just three months ago, the world’s largest online retailer posted the biggest profit in its 26-year history. Governments’ stay-at-home orders prompted consumers to shift purchases to web marketplaces such as Amazon, while brick-and-mortar rivals shuttered shops. Amazon has reaped rewards from this but not without challenges. For a time, Amazon limited its warehousing services to essential goods. The company re-fashioned operations for COVID-19 precautions, though more than 19,000 workers caught the virus, and some demanded site closures. Customers experienced slower-than-usual deliveries.

With a positivity rate of 4.1 per cent, India’s daily cases increased by 43,893 in the last 24 hours, taking the country’s coronavirus tally close to the 80 lakh mark, the Health Ministry data shared this morning shows. Overall deaths related to the viral disease in India rose to 1.2 lakh as 508 people died in the 24 hours. India has recorded a total of 79,90,322 cases of coronavirus till now. Almost 91 per cent of all people who have contracted COVID-19 – more than 72.5 lakh – have successfully fought off the disease, and some 6.1 lakh people – or about 8 per cent of the tally – are receiving treatment for COVID-19. The COVID-19 pandemic in India is showing a declining trend, except for a few states which have reported a rise in cases during the festivals, the government said on Tuesday, mentioning Kerala, West Bengal, Maharashtra, Karnataka and Delhi. Together, these five states account for 53 per cent of all new cases. Some of these states are seeing record surge, like Delhi with 4,

Congress MP Rahul Gandhi today hit out at Prime Minister Narendra Modi and Bihar Chief Minister saying they do not talk of development and issues related to farmers, workers and small businessmen of Bihar. Speaking at a public rally in Darbhanga, Rahul Gandhi said, “Prime Minister does not talk of employment. Nitish Kumar talks of bad things about Tejashwi Yadav’s family while Modi ji talks about my family. But the question of unemployment, the life of farmers and small businessmen are not addressed by Modiji and Nitishji. This poll is not about families of mine, or Nitish Kumar’s. It is a poll for the future of the people of Bihar. Still, they are not speaking on the issues that the people of Bihar want to listen to.” “What people got after giving 15 years to Nitish ji and six years to Modi ji . The youth of Bihar could not find jobs. Moreover, they can’t find jobs elsewhere because Modi ji has finished employment across the country,” he said. The Congress leader also criticised th

Nearly 200 airports in Europe will face insolvency in the coming months if passenger traffic does not start recovering by the end of the year, airports body ACI Europe said on Tuesday. An estimated 193 European hubs are considered “at-risk airports”, ACI said, adding that they contribute to economic activity that creates 277,000 jobs and 12.4 billion euros ($14.66 billion) of European GDP. Airports at risk are mainly smaller regional ones with fewer than 5 million travellers each year, where closure would have an outsized impact on local jobs, an ACI spokeswoman told Reuters. Larger European airports are also burning through cash at an unsustainable rate, with the top 20 European airports having added 16 billion euros ($18.91 billion) of debt — equivalent to nearly 60% of their revenues in a normal year, ACI said. “The figures published today paint a dramatically bleak picture. Eight months into the crisis, all of Europe’s airports are burning through cash to remain open, with revenues

Axis Bank on Wednesday reported a net profit of ₹ 1,682.67 crore in the July-September period, as its asset quality improved. The profit came despite higher provisioning for contingencies. Axis Bank – the country’s third largest private sector lender by market value – had posted a net loss of Rs 112.08 crore in the corresponding period a year ago. In a regulatory filing after market hours, Axis Bank said its net interest income – or the difference between interest earned and interest expended – increased 20 per cent to ₹ 7,326.07 crore. Its net interest margin – a key measure of profitability – improved to 3.58 per cent in the second quarter of current financial year, from 3.51 per cent in the year-ago period. Mumbai-based Axis Bank’s asset quality saw a slight improvement with gross non-performing assets (NPAs) as a percentage of total advances at 4.18 per cent in the three-month period ended September 30, as against 4.72 per cent in the previous quarter. Total gross NPAs – or bad loa

Domestic stock markets nosedived on Wednesday on the back of weak global cues after European equity markets fell sharply as coronavirus infections grew rapidly in Europe and the United States, igniting fears of possible strict lockdown measures that could damage already fragile economic recoveries. Uncertainty over the impending US presidential election also weighed on investors’ sentiment. The BSE benchmark – S&P BSE Sensex slumped as much as 747 points or 1.85 per cent and National Stock Exchange benchmark – Nifty 50 index – tumbled 205 points to fall below its important psychological level of 11,700. The Sensex ended 600 points or 1.48 per cent lower at 39,922 and Nifty 50 index dropped 160 points or 1.34 per cent to close at 11,730. European shares fell on reports of potential lockdowns in Germany and France, losing 2.5 per cent to hit five-month lows, rattled by a media report that France might bring in a national lockdown from midnight on Thursday. The Paris index was among t

Apple is reportedly fast-tracking the development of a search engine to take on Google Search. Although there has been speculation for some time now that the Cupertino company is building a Google Search alternative, the latest report is based on the enhanced search functionality offered on iOS 14 and iPadOS 14, which doesn’t require Google support to answer user queries. Apple had earlier this year also posted job openings for search engineers in an indication that it was moving forward with a native search engine. Additionally, the US antitrust lawsuit against Google threatens the payment Apple receives every year from Google for letting it be the default search engine on iPhones and iPads. According to a report by Financial Times, Apple’s move to bring standalone Web searching capabilities to iOS 14 and iPadOS 14 is a “growing evidence” that the Tim Cook-led team is all set to take on Google with its own search engine. The latest software updates allow users to start searching for W

Microsoft Teams has crossed over 115 million daily active users. Microsoft CEO Satya Nadella announced the figures during the company’s earnings call with investors. This suggests that Teams has seen nearly a 50 percent rise in user additions in the past six months. In April, the company had announced that it had reached a milestone of 75 million daily active users due to a surge in usage owing to the COVID-19 crisis. Ever since, the company has been on a meteoric rise and has managed to keep the momentum going through the year. Due to the pandemic, several companies have opted for a change in workplace strategy and are still working from home. This resulted in an increased usage for online video conferencing platforms like Microsoft Teams and Zoom. VentureBeat reports that Nadella announced the new daily active users figures during the earnings call. “Teams now has more than 115 million daily active users. We are seeing increased usage and intensity as people communicate, collaborate,

The Skoda Rapid remains one of the most affordable compact sedans on sale and also offers a good value for performance ratio with that turbocharged petrol engine. It now seems Skoda Auto India is looking to bring more frugality to its most affordable offering in the country with a CNG-powered version. Surprised? Well, there was a Skoda Rapid CNG test mule spotted testing in India recently that has sparked rumours of the more economical version making it to showrooms in the near future. However, it’s not out of the blue that the Rapid CNG test mule has emerged. Back at the Kodiaq Scout launch last year, Zac Hollis, Director of Sales and Marketing, Skoda India, had said that the company was exploring the option of introducing CNG models in India. Globally, the automaker already retails a number of models with the CNG options like the Octavia that are denoted with the G-Tec badge. The Volkswagen Group in Europe retails its CNG-powered cars with the TGI badge.

Prime Minister Narendra Modi, campaigning in Bihar’s Mithila region today for the ongoing election, referred to the Ram temple in Ayodhya as he outlined his government’s work and his coalition’s promises for the state. Addressing a joint rally with Nitish Kumar on his second day of campaigning in Bihar, PM Modi began with praise for his critic-turned-ally but his comments on Ayodhya were perceived by many as a veiled dig at him. The PM said “ Ma Sita” (Lord Ram’s consort) would look with happiness upon her birthplace Mithila as well as Ayodhya. “After centuries of penance, finally a grand Ram Temple is being built in Ayodhya. Those in politics who used to ask us for a tareekh (date), they are compelled to applaud. This is the identity of the BJP, the NDA – what we say, we do,” the Prime Minister said. His comments, many said, raised memories of Nitish Kumar’s criticism of the BJP in 2015, when he was still partnering Lalu Yadav and the Congress. “BJP and RSS people keep saying – Ram La

Finance Minister Nirmala Sitharaman on Tuesday said that demand for consumer goods has picked up during the festival season, which runs from October to March, and could help revive the economy. Referring to the Nikkei Manufacturing Purchasing Manager’s Index, Ms Sitharaman said economic activity had picked up in the country after the easing of pandemic restrictions and helped by various government measures.

Iconic American motorcycle manufacturer Harley-Davidson and Hero MotoCorp, the world’s largest manufacturer of two-wheelers by volume, have announced a new partnership for the India market. Under the new partnership and distribution agreement, Hero MotoCorp will sell and service Harley-Davidson motorcycles, and also sell parts and accessories, as well as general merchandise, riding gear and apparel through a network of brand-exclusive Harley-Davidson dealers and Hero’s existing dealership network in India. According to a press statement, as part of a new Licensing agreement, Hero MotoCorp will develop and sell a range of premium motorcycles under the Harley-Davidson brand name.

Megastar Amitabh Bachchan says he is thrilled that the city of Wroclaw in Poland has named a square after his late father and celebrated poet, Harivansh Rai Bachchan. The 78-year-old actor took to Instagram on Sunday and posted a picture of a signboard of the square embossed with Harivansh Rai Bachchan’s name. Amitabh Bachchan said getting to know about the honour for his father was a “blessing” on Dussehra. “The City Council of the City of Wroclaw, Poland has decided to name a Square after my Father. There could not have been a more apt blessing on Dushhera than this. “A moment of extreme pride for the family, for the Indian community in Wroclaw and India. Jai Hind (sic),” he captioned the picture. Earlier in July, students of the University of Wroclaw paid homage to the veteran Hindi poet by reciting his popular poem ‘Madhushala’. In 2019, Amitabh Bachchan visited Poland where his father was honoured at one of the oldest churches of the country. “At one of the oldest Churches in Euro

Future Retail will go into liquidation if its deal to sell assets to Reliance Industries fails, the group told a Singapore arbitrator while arguing against Amazon.com Inc’s bid to scupper the deal, a legal order seen by news agency Reuters showed. Amazon on Sunday won an injunction from a Singapore arbitrator to halt Future Retail’s deal to sell assets to Reliance. Amazon alleged Future Retail had breached certain contract provisions it entered into last year in a separate deal with the US firm. The dispute centres around Future Retail’s decision in August to sell its retail, wholesale, logistics and some other businesses to Reliance Industries for $3.38 billion, including debt. Amazon argues that a 2019 deal it had with a Future unit had clauses saying the Indian group couldn’t sell its retail assets to anyone on a “restricted persons” list including any firms from Reliance Industries chief Mukesh Ambani’s group. The deal specified any disputes would be arbitrated under Singapore Inte

Telecom major Bharti Airtel on Tuesday reported a revenue of ₹ 25,785 crore in the July-September period, its highest ever in a quarter, boosted by higher tariffs and a rise in data usage from a coronavirus-fuelled shift to remote working. The jump in revenue for Bharti Airtel comes at a time when the country’s telecom sector is grappling with low tariffs due to a price war that ensued after billionaire Mukesh Ambani’s Reliance Jio entered the space. In a regulatory filing after market hours, the private sector company said its net loss narrowed to ₹ 763.2 crore in the second quarter of current financial year, compared to ₹ 23,044.9 crore in the corresponding quarter a year ago. Its revenue jumped 22.02 per cent in the September quarter compared to the year-ago period.  Bharti Airtel said its ARPU or average revenue per user – a measure of profitability – improved to Rs 162 per month in the July-September period, from ₹ 157 in the previous quarter and ₹ 128 in the three-month period en

The Reserve Bank on Tuesday asked all lending banks and non-banking financial companies, to ensure that the scheme of waiver of interest on interest for loans up to ₹ 2 crore for the six-month moratorium period is implemented by November 5, as decided by the government. Last Friday, the government had announced the scheme for grant of ex-gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts. The lending institutions have been asked to complete the exercise of crediting the amount in the accounts of borrowers by November 5. Housing loans, education loans, credit card dues, auto loans, MSME loans, consumer durable loans and consumption loans are covered under the scheme. The scheme mandates ex-gratia payment to certain categories of borrowers by way of crediting the difference between simple interest and compound interest for the period between March 1, 2020 to August 31, 2020 by respective lending institutions.

iPhone 12 and iPhone 12 Pro users in the UK reportedly came across an issue that requires its contact tracing feature to be re-enabled to function properly. When switching to a new iPhone from an older model, users can easily set up their previously installed apps from Cloud backups. However, users of National Health Service (NHS) contact tracing app faced settings-related issues when they tried to open the app. It should be noted that several countries, including India, doesn’t have access to Exposure Notification feature on iPhones due to restrictions from the countries’ public health authority. According to a report by BBC, users who switched to iPhone 12 and iPhone 12 Pro – launched earlier this month – faced an error message when trying to access the NHS COVID-19 app. The pop-up message suggested that the app can’t be run due to “a restriction in your settings.” When the app was deleted and re-installed, it then asked users to re-enable exposure notifications. The app started work

US Secretary of State Mike Pompeo had strong words for China today and said the US “stands with India to deal with any threat”. In the backdrop of India’s military stand-off with the Chinese troops at the Line of Actual Control in Ladakh, he also expressed his country’s support for India in its efforts to “defend its sovereignty”.   Mr Pompeo and Defence Secretary Mark T Esper had arrived on Monday for crucial talks aimed at boosting defence and security ties between the two countries.   The 175-day stand-off in Ladakh was discussed at their 40-minute meeting with National Security Advisor Ajit Doval at the South Block, officials said. “We paid our respect to the soldiers who laid down their lives in the Galwan Valley recently,” Mr Pompeo said after a visit to Delhi’s National War Memorial, referring to the 20 soldiers who died in a clash with Chinese troops on June 15.   “The US will stand with India in its efforts to defend its sovereignty and its liberty… Our nations are committed t

Mercedes-Benz today announced record customer deliveries achieved during the auspicious occasion of Navratri and Dussehra. The company handed over 550 cars to customers across the country during the ongoing festive period, repeating the record sales achieved in 2019. The record 550 customer deliveries were from Delhi NCR, Mumbai, Gujarat and other Northern markets. In Delhi NCR alone, 175 new Mercedes-Benz cars were handed over to their owners. Mercedes-Benz earlier witnessed a sequential growth in its monthly sales in Q3 2020, amidst the current market challenges prevalent owing to the pandemic. The company said that it witnessed strong demand across key markets like Delhi NCR, Mumbai and Gujarat which saw a resurging customer demand, owing to the return of normalcy and stabilization of businesses. Demand was particularly high for the C-Class, E-Class sedans and the GLC, GLE and GLS SUVs. 0 Comments Speaking on the occasion, Martin Schwenk, Managing Director & CEO, Mercedes-Benz

Shares of Kotak Mahindra Bank surged as much as 11.38 per cent, its biggest single day gain since March 25, 2020, to hit an intraday high of ₹ 1,576.85 on the BSE a day after it reported September quarter earnings. The Uday Kotak-promoted bank on Monday said that its annual net profit in July-September period rose 27 per cent to ₹ 2,184.48 crore compared with ₹ 1,724.48 crore during the corresponding period a year ago. The jump in the private sector bank’s profit came on account of lower provisioning for non-performing assets – or bad loans – during the quarter. Kotak Mahindra Bank’s provisions came down to ₹ 368.59 crore in the three-month period ended September 30, from ₹ 962 crore in the previous quarter. Net interest income – the difference between interest earned and interest expended – rose 17 per cent to ₹ 3,913.21 crore, from ₹ 3,349.59 crore in the year-ago period, according to a regulatory filing by Mumbai-based Kotak Mahindra Bank. Asset quality of the country’s third larges

The number of coronavirus cases reported in India in a span of 24 hours dropped below 40,000 after over three months, while the new fatalities?registered during the same period remained under 500,?according to the Union Health Ministry data updated on Tuesday India’s COVID-19 caseload mounted to?79,46,429,?with?36,470 new infections being reported in a day, while the death toll due to the disease climbed to 1,19,502 with 488 new fatalities being recorded, the data updated at 8 am showed A total?of 72,01,070 people have recuperated from COVID-19 so far, pushing the?national recovery rate to 90.62 per cent while the?case?fatality rate stands at 1.50 per cent.? The number of active cases of coronavirus infection has remained below 7 lakh for five days in a row There are?6,25,857 active cases of coronavirus infection in the country as?on date?which comprises 7.88 per cent of the total caseload,?the data stated.??? India’s COVID-19 tally had crossed the 20-lakh mark on August 7,?the 30-lakh

Angel Broking shares gained 20 per cent in intra-day trading after the retail broking house reported the highest-ever quarterly profit, at ₹ 74.47 crore, in the second quarter ended September 2020. At 1:00 pm, the shares were trading higher by 19.30 per cent at ₹ 296.65 on the BSE, after touching an intra-day high of ₹ 298.35. But after being listed on bourses on October 5, the stock is still to surpass its issue price of ₹ 306 per share. The retail broking house reported profit of ₹ 74.47 crore in the September 2020 quarter, a 47.3 per cent rise compared to ₹ 48.3 crore in the June quarter. Its consolidated revenue from operations grew by 30 per cent to ₹ 309.85 in Q2FY21.

Academics, journalists, and First Amendment lawyers are rallying behind New York University researchers in a showdown with Facebook over its demand that they halt the collection of data showing who is being micro-targeted by political ads on the world’s dominant social media platform. The researchers say the disputed tool is vital to understanding how Facebook has been used as a conduit for disinformation and manipulation. In an October 16 letter to the researchers, a Facebook executive demanded they disable a special plug-in for Chrome and Firefox browsers used by 6,500 volunteers across the United States and delete the data obtained. The plug-in lets researchers see which ads are shown to each volunteer; Facebook lets advertisers tailor ads based on specific demographics that go far beyond race, age, gender and political preference. The executive, Allison Hendrix, said the tool violates Facebook rules prohibiting automated bulk collection of data from the site. Her letter threatened

COVID-19 cases reported in India in a span of 24 hours remained below 55,000 for the third consecutive day, while new fatalities recorded in a day dropped to 578 after almost three months, according to the Union Health Ministry’s data updated on Sunday. India’s COVID-19 caseload mounted to 78,64,811 with 50,129 fresh infections being reported in a day, while the death toll climbed to 1,18,534 with 578 new fatalities, the data updated at 8 am showed. The number of active cases remained below seven lakh for three days in a row, while the national recovery rate has risen to 90 per cent. There are 6,68,154 active cases in the country which comprise 8.50 per cent of the total caseload, the data stated. A total of 70,78,123 people have recuperated from the disease so far, pushing the national recovery rate to 90 per cent while the case fatality rate stands at 1.51 per cent. India’s COVID-19 tally had crossed the 20-lakh mark on August 7, 30 lakh on August 23 and 40 lakh on September 5. It we

Kawasaki has unveiled the 2021 Z250 for Japan and other global markets with a bunch of upgrades. The 2021 Kawasaki Z250 comes with new colours, revised styling and a number of mechanical changes, keeping up with the new competition. In fact, this is the first major upgrade to the model since it was last updated for the 2019 model year. The quarter-litre Z Kwacker now gets two new colours to choose from – Pearl Night Shade Teal with Metallic Flat Spark Black and Candy Cardinal Red and Metallic Flat Spark Black. However, that’s just the first of many changes.

Industry body PHDCCI expects India’s GDP to contract by 7.9 per cent in the current financial year and grow by 7.7 per cent in 2021-22, assessing that the worst is over and the economy is on the verge of a slow recovery. The chamber, however, stated that unemployment remains a key challenge to be addressed by the government. The PHDCCI drew the conclusions based on its analysis of 25 high-frequency economic indicators which point out that there has been a pickup in business normalization. However, the unemployment rate still remains a worry as it worsened to 8.3 per cent in August from 7.4 per cent in July, it said in a report. “Going ahead, India should focus on moving away from imports from China, divert trade towards friendly economies, build domestic capacities and significantly scale-up indigenous production with a thrust to become self-reliant,” PHD Chamber of Commerce and Industry (PHDCCI) said. It said also that efforts should be made to diversify the portfolio of export produc

On the eve of Dusshera, Prime Minister Narendra Modi, President Ram Nath Kovind and other leaders extended their greetings to the nation. PM Modi expressed hope that the festival of Dusshera brings new inspiration into everyone’s life. “Good wishes to all countrymen on Vijaya Dashami. May this grand festival marking the victory of truth over untruth and of goodness over evil may bring new inspiration into everyone’s life,” PM Modi said in a tweet. The country is celebrating Vijayadashami amid restrictions due to the COVID-19 pandemic. President Ram Nath Kovind also extended greetings to citizens on the occasion of Dussehra. “Dussehra greetings and best wishes to all countrymen. This festival symbolizes the victory of truth over religion and falsehood over wrongdoing. I wish that this festival of joy, protects everyone from the effects of the epidemic and bring prosperity among the countrymen,” the President tweeted.

Defence Minister Rajnath Singh on Sunday said India wants an end to the border tension with China in eastern Ladakh, but at the same time asserted that Indian soldiers will never allow even an inch of the country to be taken away by anyone. The defence minister made the remarks after performing “Shastra Puja” — the customary worship of weapons — at the Sukna-based headquarters of the Indian Army’s 33 Corps in Darjeeling district of West Bengal on the occasion of Dussehra. The defence minister was scheduled to perform the puja at Sherathang, a high-altitude border area near the Line of Actual Control (LAC) with China in Sikkim, but could not go there due to inclement weather, officials said. “India wants an end to the ongoing border tension with China and restoration of peace. This is our objective. But at times, some nefarious incidents keep happening. I am very confident that our soldiers will never allow even an inch of our land to be taken away by anyone,” Singh said after performin

Walmart Inc’s Flipkart will buy a 7.8 per cent stake in Aditya Birla Fashion and Retail Ltd for ₹ 1,500 crore ($204 million), the fashion retail company said, sending its shares up 6 per cent on Friday. The investment comes at a time when Amazon.com Inc, billionaire Mukesh Ambani-led Reliance Industries and Flipkart are in a race to gain market share in India’s fast-growing online market for food and groceries. “Fashion retail in India is set for robust long-term growth due to strong fundamentals of a large and growing middle class… Rapid growth of technology infrastructure will further accelerate this process,” Aditya Birla Group Chairman Kumar Mangalam Birla said. With the COVID-19 pandemic keeping most people indoors, Indians are turning to online platforms for all purchases from bread to phones to clothes.

The Karnataka High Court ruled on Saturday that Franklin Templeton Mutual Fund will need to seek approval from unit holders before winding up six schemes with combined assets of some ₹ 28,000 crore ($3.8 billion). One of the country’s most prominent fixed income fund houses, it shut six credit funds in April citing lack of market liquidity and redemption pressures due to the pandemic. The funds had large exposures to higher-yielding, lower-rated credit securities. But some investors challenged the decision in court saying their permission should have been sought. The High Court in Karnataka where their cases have been heard since June ruled on Saturday that, while not wanting to interfere with Franklin’s decision, it should seek consent of unit holders. Franklin Templeton in response said in a statement the court had upheld the decision taken by its trustees to wind up the schemes, but had ordered that approval of the unit holders is required.

Domestic petrol and diesel rates remained at existing levels on Sunday. That marked a 23rd straight day of steady prices of petrol and 33rd in case of diesel. Currently, petrol and diesel prices vary in different parts of the country due to taxes. State-run oil marketing companies Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation review the fuel rates on a daily basis, and implement any changes in domestic fuel prices with effect from 6 am, aligning them with crude oil and rupee-dollar forex rates.

The country’s lenders were set a November 5 deadline on Saturday to waive interest payments on coronavirus support loans in a move that could give relief to millions of people ahead of one of the country’s biggest festivals. Prime Minister Narendra Modi’s government was forced to rethink the loan moratorium scheme which allowed borrowers to not pay loan instalments between March and August, but allowed lenders to accrue additional interest on the unpaid sum. An optician from Agra was among the first to challenge the scheme for making borrowers pay additional “interest-on-interest”. Earlier this month, the government told the Supreme Court it will waive certain interest levies on loans below ₹ 2 crore ($272,888) under a health support plan. The top court had asked the government to implement the scheme, which will bring relief to millions of borrowers, at the earliest. The government has said lenders have to credit borrowers on or before November 5. Lenders will have to claim reimbursem

The flag of the erstwhile state of Jammu and Kashmir’s will be used by the coalition of all major regional parties which aim to have its status and powers restored, the bloc announced on Saturday. The group will be led by former Chief Minister Farooq Abdullah and rival Mehbooba Mufti will be his deputy. The “People’s Alliance” is an unprecedented grouping of parties which signed last year’s Gupkar Declaration just before the centre struck down Jammu and Kashmir’s decades-old special powers listed in Article 370 of the constitution and split it into two union territories. The leaders, who buried years of bitter rivalry to ally, met at the residence of People’s Democratic Party chief Mehbooba Mufti for the first time after its formation on Saturday. National Conference leader Mr Abdullah, 83, was unanimously named chairman of the group while Ms Mufti will be its vice-chairman. Left leader Mohammad Yousuf Tarigami is the convenor of the alliance, while Sajad Lone of the People’s Conferenc

New guidelines set by insurance regulator Insurance Regulatory and Development Authority of India (IRDAI) for medical insurance providers are set to come into force from October 1. The changes are aimed at making health insurance plans broader – covering more treatments – and more simplified. The new rules come at a time when the continuous spread of coronavirus pandemic has led to the worst contraction in the country’s GDP or gross domestic product on record. What are these changes in health insurance, and how do they impact you? Decision On A Claim Within 30 Days According to the new guidelines, released by IRDAI in June, insurance companies will be required to either settle or reject a claim not more than 30 days from the date of its receipt, under certain conditions. Any Delay Means Interest In case an insurer fails to decide on a claim within this period, it will be required to pay interest at a rate of 2 per cent above the applicable bank rate on the dues to the policyholder. Thi

Samsung Galaxy F12 seems to be the next phone in the company’s new F series of smartphones. Currently, there is only one phone in the ‘F’ lineup – Samsung Galaxy F41 but now, as per a new report, a Samsung phone with model number SM-F127G has leaked. There are no details about this phone, but it is believed to be called the Galaxy F12. Additionally, another Samsung phone, believed to be the Galaxy A02s, has been reportedly spotted in a Geekbench listing. Talking about the rumoured Samsung Galaxy F12, a report by SamMobile states that Samsung is working on a new smartphone with model number SM-F127G which may end up being called the Galaxy F12 or Galaxy F12s. It is possible that like that Samsung Galaxy F41, this new phone may also be a rebranded version of one of Samsung’s M series. The Galaxy F41 was a rebranded Galaxy M31. As of now, Samsung has not shared any information on the Galaxy F12 or Galaxy F12s. In other news, a Samsung phone believed to be the Galaxy A02s has been allegedl