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Luxury carmaker Mercedes-Benz implemented its customer-centric ‘Retail of the Future’ (ROTF) ‘direct- to- customers’ business model and said it will all stakeholders. Company has invested Rs 60 crore to make it operational In this new format Mercedes-Benz India will retain the ownership of the entire stock of cars and retail them via appointed ‘franchise partners’ […]
Reliance Industries Ltd (RIL) has reported a net profit at Rs 13, 680 crore, July-Sept quarter FY22, a rise of 11.4 per cent compared with the previous quarter, where net profit stood at Rs 12,273 crore. EBITDA for the second quarter of FY22 stood at Rs 26,020 crore compared to Rs 23,368 in the first quarter. In the July-September […]
Three Gujarat investors have complained to the Ahmedabad Crime Branch that deliberately misleading reports by at least four journalists including a prominent news channel led to a huge loss on their investment. The police application, whose copy is with Vibes of India (Vo!) states that this “huge loss was a part of a national conspiracy. […]
Since the execution of Goods and Services Tax (GST) in July 2021, Ahmedabad and Surat have turned into centres for bogus billing in Gujarat. The trap of unlawful transactions has additionally spread quickly to industrializing locales like Bhavnagar, Rajkot, Morbi and Gandhinagar. Though it has spread quickly, Ahmedabad and Surat still account for 58 per […]
Manish Malhotra luxury retail footprint that extends stores across Mumbai, Hyderabad and New Delhi, gets its first external investor – Reliance Brands Limited (RBL) for a 40 percent stake. Reliance was also in talks to acquire Ritu Kumar’s brand but has now signed a definitive agreement to invest in the brand that had been so […]
With an increase in the inflow and availability of tea from Nepal, the prices of Darjeeling tea have fallen by 20-25 percent within a span of one year. Tea plantations in Darjeeling might have to be shut down as ‘substandard’ tea from Nepal continues to flood Indian markets which will likely affect thousands of people […]
Despite not so cordial relations between two Asian giants due to military standoff in eastern Ladakh, bilateral trade volumes between India and China continues to scale new height. After already having touched USD 90 billion in the first nine months, it is set to cross the record figure of USD 100 billion this year. While […]
Reliance New Energy Solar Ltd. (RNESL) – a wholly-owned subsidiary of Reliance Industries Ltd. (RIL) has signed an agreement with Denmark-based Stiesdal (Stiesdal) to manufacture hydrogen electrolyzers. Stiesdal is a Danish company that is engaged in developing and commercialising technologies on climate change mitigation. RNESL has been awarded the license for this through a “cooperation agreement”, […]
IMF World Economic Outlook report for the quarter ending September 2021 has estimated the Indian economy to grow at 8.5 percent next financial year 2021-22. This bolsters the general opinion about robustness of the economy, which is coming out of the recession created by the Covid-19 epidemic. IMF has suggested no change in the estimated […]
Cryptocurrency’s regulatory status might be unclear in India, but it does not deter Indians from investing in crypto assets. India ranks 5th among the countries with the highest rate of crypto owners. Over 7.3% of Indians hold cryptocurrency as per the estimates. It is over 10 crores, which is the highest in the world in […]
More than 100 female beauticians from Urban Company hit the street protesting against the pay scale, working conditions, and absence of insurance. This incident has come to a blow in the face of Urban Company, Which has been riding on an ego trip dependent on these elements for some time now.Urban Company was among the […]
In an incredibly significant development, that would cast its shadow on financial circles across India – RBI has banned M/s Haribhakti & Co, LLP auditors from auditing regulated companies for a period of two years with effect from April 1, 2022. In what could be termed as the ultimate slur for a company of the […]
Ministry of Power has noticed some states failing to supply power to their consumers and imposing load shedding. Moreover, they are selling power in the power exchange at a high price. According to the guidelines for allocation of power, 15% of power from the Central Generating Stations (CGS) are kept under “unallocated power” which is […]
The authorities have given a go forward to billionaire investor Rakesh Jhunjhunwala backed startup airline Akasa. The aviation ministry has issued the no-objection certificates (NOC) and now it might want to apply for air operator allow (AOP or licence) from the Directorate General of Civil Aviation (DGCA). The proposed extremely low-value service (LCC) is being […]
The Central government has put quantitative restrictions on the export of 0.5 ml/1ml AD (auto-disable) syringes, 0.5/1/2/3 ml disposable syringes and 1/2/3 ml RUP (re-use prevention) syringes. The idea is to boost its domestic availability and uptake. The restrictions will be applied to just three categories of syringes for three months. The Union Health Ministry […]
After 25 year efforts in vain to get significant foothold in car market the country, Ford called it quits from all manufacturing activities in India, last month. Though, one of the first foreign car manufacturer to arrive in India, Ford Motor Co, manufactured 5 models, EcoSport, Figo, Freestyle, Endeavour and Aspire, locally. It however could […]
Walter Vieira All is well that ends well. It has been a trauma for many, many years to see one of the worlds best airlines, which was,’ iconic,’ and recognised globally as the ‘ maharaja airline ‘- slowly go down the ‘ brand slide ‘ to a stage where it was the ‘ last resort […]
More than half a century after India’s biggest conglomerate surrendered control to the state, ending the government’s hold over an airline – Tata Sons Pvt Ltd is all set to take over Air India Ltd, again. The central government has officially announced that Tata sons acquires 100 percent shareholding of Air India. This comes a […]
While the investigation agencies were busy probing criminal cases against Sterling Biotech Director Nitin Sandesara and his group in 2017, Sandesara was busy collecting character certificates from Nigerian banks so to expand his oil business in the British Virgin Island. In a reference letter to Fidelity Corporate Service Ltd, the Union Bank of Nigeria Plc […]
The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 82,229 crores to more than 53.54 lakh taxpayers from April 1, 2021, to October 4, 2021. Income tax refunds of Rs 20,510 crores have been issued in 51,88,762 cases Corporate tax refunds of Rs 61,719 crore have been issued in 1,65,397 cases […]
