Manila, April 26 : The Asian Development Bank (ADB) announced Friday that Takehiko Nakao has been unanimously elected as president by its Board of Governors.
Nakao, 57, is Japan's former vice minister of finance for international affairs. He will assume office as the Manila-based lender's ninth president April 28, reported Xinhua.
He will finish the unexpired term of his predecessor Haruhiko Kuroda which ends Nov 23, 2016. Kuroda resigned as ADB president in March following his nomination as governor of the Bank of Japan.
Japanese photography giant, Nikon has announced the launch of its new Coolpix Cameras in the Indian market.
The company launched its new Coolpix A camera under the new series in the CoolPix range as well as other models in the new cameras the CoolPix P, S, L and AW series. The new Coolpix A comes with DX format CMOS 16.2-megapixel crop sensor and a wide-angle. It also has a 18.5mm fixed focal lens with a f/2.8 aperture and the company will offer the model with a price tag of Rs 54,950.
Gurgaon April 18 : Passenger car market leader Maruti Suzuki's Swift Dzire and Ertiga cars have been awarded the India Design Mark Award, a company official said here Thursday.
The award is given to products which are trustworthy, reliable, offer value for money, and most importantly, are manufactured in a responsible manner, a Maruti Suzuki spokesperson said.
This is the second consecutive year when this award has been bestowed on Maruti Suzuki models. In 2012, the company's Wagon R and Swift were the winners of this award.
German luxury carmaker, BMW Group has announced that it will begin production of it's the Mini Countryman at its plant near Chennai in the southern Indian state of Tamil Nadu.
The company is planning to begin the production of the model locally just a year after it entered the Indian market. The company might be looking to offer the model at a cheaper price in the country after beginning local production at the plant. It will be first time BMW will produce the iconic British brand's cars at a plant outside of Europe.
According to the latest figures released, Tata Motors was able to sell just 229,157 Nanos since the company started selling its models in the country.
The Tata Nano car was launched in 2009 however its demand fell in the country drastically after a few models were reported to have caught fire while in use. The company pointed out that the fire incidences were isolated and one off accidents but the demand for more expensive models remained high while Nano did not an increase in demand.
New Delhi, April 16 : Gold price dipped Tuesday below Rs. 27,000 level for 10 grams for the first time in almost two years on continued weakness in global markets.
The yellow metal has become cheaper by almost 20 percent since the beginning of this year.
Gold price dropped by more than two percent to Rs. 26,440 per 10 grams in the national capital. The price has dropped sharply for the third consecutive trading day. In the last three sessions gold price has dropped by Rs. 3,160 per 10 grams.
The prices dropped sharply in the international markets also. In New York, gold slumped to $1,360 an ounce.
Indian automotive major, Hero MotoCorp, which is the world's largest two wheeler maker by volume, has launched a new warranty plan under which it will offer a 5 years or 70,000 kilometer warranty on all its motorcycles.
South Korean electronics giant, Samsung is now offering attractive EMI and cash back offers with tis models including Galaxy S3, Galaxy Note 2, Galaxy Grand in the Indian market in order to attract new customers in the competitive market.
Steel prices will likely remain under pressure during the first three month of current financial year, unless prices of key raw material iron ore drops, Tata Steel Ltd MD Hemant Nerurkar said.
While slowdown in the economy brought demand for steel in automobile & construction sector, ban on extracting iron ore in Karnataka led to scarcity of the raw material, putting steel makers under intensified pricing pressure.
Qantas Airways Ltd, leading Australian carrier, has opened a new lounge at Singapore's Changi airport for its passengers.
The new lounge will cater to premium passengers on its new dedicated Singapore services and will offer features 460 seats, 20 showers, 80-inch television screens and technology pods. The company will also offer a dining area with a live cooking station, a bar and mattresses and duvets for passengers wanting to sleep at the airport.
New Delhi, April 11 : Japanese automobile major Honda's Indian subsidiary Thursday entered the diesel segment, launching its sedan Amaze, priced between Rs. 5.99 lakh and Rs. 7.60 lakh (ex-showroom Delhi).
The entry-level sedan's diesel variant is powered by an all new 1.5 litre, four-cylinder (DOHCi-DTEC) engine with a fuel economy of 25.8 km per litre.
The diesel engine has been developed exclusively for India at the company's research and development (R&D) centre in Bangkok, Thailand, after extensive market surveys.
New Delhi, April 10 : German sportswear giants adidas Wednesday roped in Delhi Daredevils captain Mahela Jayawardene as its brand athlete.
Mahela will now be sporting the three stripes of adidas, the world's leading sportswear brand.
To kick-start the partnership, the former Sri Lankan cricket captain will be part of adidas' latest digital and retail campaign for the IPL - Loose the heat, keep the fire - a campaign based on the latest cutting edge apparel technology from adidas, ClimaCool+.
Bhubaneswar, April 9 : Essar Steel India, which is setting up a 12 million tonne per annum (MTPA) pellet-making facility in Odisha, Tuesday announced that it has appointed Rajendra Mittal as its new chief executive officer for its operations in the state.
Mittal takes over from Shivramkrishnan Hariharan, who has assumed a larger role at the corporate level as chief commercial officer, the company said here in a statement.
South Korean automotive giant, Hyundai has developed a new egg-shaped car powered by electric engine, which will be able to fit into narrow spaces in congested urban centres.
The new Hyundai E4U, which stands for four Es namely; evolution, electricity, eco-friendliness and egg, will have a top speed of 18 miles per hour. The top of the car appears to be a futuristic space helmet for the passengers. The vehicle has been designed to allow people to navigate congested urban roads and it is designed for one person only.
Mumbai, April 4 : Reliance Power Thursday said it has commissioned the first 660 MW unit of the Sasan ultra mega power project (UMPP) in Madhya Pradesh.
The company informed the Bombay Stock Exchange in a filing that it has started commercial operations at its 3,960 MW Sasan UMPP March 30.
"The sucessful commissioning of the first unit in record time is a clear demonstration of the execution capabilities of Reliance - the ability to build large coal mine projects ahead of schedule," said J. P. Chalasani, CEO Reliance Power.
Bhubaneswar, April 3 : State-owned National Aluminium Company Ltd (NALCO) has decreased its domestic aluminium price by Rs. 3,000 a tonne as the international price of the metal has come down, a company official said Wednesday.
This is the third time since the start of last month that the Bhubaneswar-headquartered NALCO has revised the price across all products because of the fluctuation of the aluminium price at the London Metal Exchange, the official told IANS.
The company which is India's third largest aluminium producer last cut price by Rs. 6,500 and Rs. 2,000 March 1 and March 22, respectively, across all products.
Bangalore, April 3 : Larsen & Toubro (L&T) construction firm has won an order valued at $257 million (Rs. 1,398 crore) from Abu Dhabi Airports Company to build a midfield terminal complex in the UAE, the company said here Wednesday.
"Work on the midfield terminal complex is part of the major expansion programme of Abu Dhabi International Airport to serve as the new gateway to the city," the company said in a statement.
Swiss drug maker, Novartis faced a defeat in a patent issue as India's apex court dismissed its patent bid for a blockbuster cancer drug.
The company condemned the decision by the Supreme Court of India to dismiss its patent application. The decision by the Supreme Court came after legal battle for seven years by the company to gain a patent protection for an updated version of leukemia drug Glivec in the country.
Chennai, March 29 : Two-wheeler maker Honda Motorcycle and Scooter India Friday announced completion of a major part of its CBR 250R motorcycle-recall, after a faulty front brake was detected last November.
In a statement, the company, referring to its recall notice for CBR 250R standard variant motorcycle, said it has successfully completed the voluntary market action on 75 percent of the suspected lot in four months' time.
Bangalore, March 28 : State-run defence behemoth Bharat Electronics Ltd (BEL) will manufacture sub-assemblies for the Boeing Super Hornet fighter jet under a follow-on contract with the US-based global aerospace major.
"Under the follow-on contract of 2011, BEL will deliver components for our F/A-18E/F Super Hornet and P-8I maritime reconnaissance aircraft," Boeing said in a statement here Thursday.