Company Updates

Micromax revises Canvas HD price upwards

Micromax revises Canvas HD price upwardsIndian handset maker, Micromax has increased the price of its highly popular Canvas HD smartphone, which was sold out immediately after its launch in the country.

The new Canvas HD smartphone comes with a host of impressive high tech features and specifications. The smartphone was completely sold out of the market within a week of its launch and has a waiting period of a month in the country. The company had priced the device at Rs. 13,999 at the time of its launch but the popularity of the device might have convinced the company to increase its price.

Volkswagen to recall 384,181 vehicles in China

Volkswagen to recall 384,181 vehicles in ChinaGerman automaker, Volkswagen might be planning to recall a total of 384,181 vehicles in China due to an issue with the gearbox.

China's quality-control agency said that the company will recall 384,181 vehicles that were sold in the country to address the issue with the gearbox of the vehicles. The company’s joint venture unit in China will begin the recall on April 2 of the vehicles that were manufactured or imported into the country between December 2008 and March 2013.

HDIL shares crash after downgrade

HDIL shares crash after downgradeThe shares of Housing Development and Infrastructure Ltd fell significantly after credit agency Credit Analysis and Research Ltd (CARE) downgraded the company’s non-convertible debentures issue.

The real estate developer’s shares fell 19.65 per cent to Rs 48.85, which is its lowest level ever, on the Bombay Stock Exchange (BSE) after the research agency downgraded the issue. The shares of the company fell 19.83 per cent to a one year low of Rs 48.70 on the National Stock Exchange (NSE). The company’s market capitalisation fell from Rs 423 crore to Rs 2,124 crore.

Samsung confirms it is working on a smartwatch

Samsung confirms it is working on a smartwatchAccording to news publication Bloomberg’s March 19-dated report, Lee Young Hee - Executive VP of mobile business at Samsung – has confirmed the rumors about Samsung developing on a smartwatch; and has said that the company has been working on the device "for so long."

Target to open new store at Centre Mall in Hamilton

Target to open new store at Centre Mall in HamiltonUS retail giant, Target is set to open its new store in the Centre Mall in Hamilton in Canada tomorrow to attract more customers on the other side of the border.

The company is planning to inaugurate the new mall at 8 a. m. on Tuesday as part of the company's plans to launch 24 stores across different parts of Canada within March.  The company is already running three stores in Ontario in Guelph, Fergus and Milton.  It will open a total of 17 stores tomorrow and another four on 28 March, 2013.

Gerdau acquires partner’s stake at Tadipatri steel plant

Gerdau acquires partner’s stake at Tadipatri steel plantA Leading Brazilian producer of long steel, Gerdau announced on Monday that it has acquired joint venture partner, Kalyani’s stake in the steel plant in Tadipatri in Anantapur district of Andhra Pradesh.

Ford India reveals new EcoSport SUV at Mumbai

Ford India reveals new EcoSport SUV at MumbaiFord India has revealed its new and upcoming, EcoSport SUV at Infiniti Mall in Malad, Mumbaifor the promotion of the model before its official launch in the country.

The EcoSport is also being displayed at the Select City Mall in Saket, New Delhi. The vehicle will be on display in the two megacities till 17th March 2013. The company is also planning to display the vehicle in other cities including Pune, Ahmedabad, Bangalore, Chandigarh, Kochi, Ludhiana, Chennai, Jaipur, Kolkata, and Hyderabad in the coming days.

Maruti Suzuki appoints Kenichi Ayukawa new MD

Kenichi-AyukawaNew Delhi, March 15 : India's largest carmaker Maruti Suzuki Friday said it has appointed Kenichi Ayukawa as its new managing director (MD) and chief executive officer (CEO) in place of Shinzo Nakanishi.

Ayukawa will take over the new job April 1 on retirement of Nakanishi, Maruti Suzuki said in a statement.

Samsung Electronics appoints new CEOs

Yoon-Boo-keun-Shin-Jong-kyunSeoul, March 15 : Samsung Electronics, South Korea's tech behemoth, Friday appointed new chief executive officers.

Samsung named President Yoon Boo-keun and President Shin Jong-kyun as new CEOs following the company's annual general shareholders' meeting, according to an e-mailed statement.

Yoon, who solidified the company's global leadership in TV business, will continue his role of overseeing the consumer electronics division as new CEO. The division includes TV and appliance products, reported Xinhua.

Samsung unveils Galaxy S4 smartphone

Samsung unveils Galaxy S4 smartphoneSeoul, March 15 - Samsung Electronics, the world's largest maker of memory chips, mobile phones and display panels, Friday unveiled its new flagship smartphone Galaxy S4.

Galaxy S4 features a 5-inch Full HD Super AMOLED display with a resolution of 1920 by 1080. It has a pixel density of 441 pixel per inch (ppi), reported Xinhua.

It comes with a "dual camera" function that allows simultaneous use of both front and rear cameras. Users can select eight different ways to combine the two photos taken by both cameras.

Reliance Games acquires firms in Japan, SK

Reliance Games acquires firms in Japan, SKGlobal mobile gaming business of Reliance Big Entertainment, Reliance Games has acquired tow gaming firms in Japan and South Korea in order to expand its international presence. Reliance Games, which is a part of the ADAG, acquired mobile game development & publishing company in Japan and a mobile game development studio in South Korea.

AT&T to acquire stake in Reliance Jio Infocomm

AT&T to acquire stake in Reliance Jio InfocommUS based telecom service provider, AT&T has said that it is planning to acquire a 25 per cent stake in Reliance Jio Infocomm Ltd that is controlled by Mukesh Ambani.

Reliance Power commissions first 660 MW unit of Sasan UMPP

Reliance-PowerNew Delhi, March 11 : Reliance Power has commissioned the first 660 MW unit of its Sasan ultra mega power project (UMPP) in Madhya Pradesh, the company said Monday.

"The first 660 MW unit at the Sasan Ultra Mega Power Plant has been successfully synchronised on March 9, 2013," a company statement said.

The unit would start selling electricity from the plant in the next 15 days to 14 distribution companies in seven states, benefiting an estimated 350 million people.

The plant has also been connected to the national power transmission grid, the company statement added.

Aer Lingus CEO Müller’s pay increased to €1.29m

Aer Lingus CEO Müller’s pay increased to €1.29mAccording to the latest figures released, Aer Lingus CEO Christoph Müller’s pay package has increased to €1.29 million during 2011.

Mr Müller, who took over the top job at Aer Lingus in 2009, received a pay package of €1.24million for 2011. The rise of more than 4 per cent was recorded even as his basic salary remained below €500,000. The increase is mainly due to a rise of €13,000 in ‘other benefits’ to €52,000 and about 6 per cent increase in performance-related bonus to €647,000 for 2012.

AirAsia will face intense competition from existing budget airlines in India: CAPA

AirAsia will face intense competition from existing budget airlines in India: CAPAAirAsia's proposed budget airline in India will face cut-throat competition existing airlines like IndiGo and SpiceJet, the Centre for Asia Pacific Aviation (CAPA) said.

In its newly published report, the Centre for Asia Pacific Aviation said that IndiGo and SpiceJet control more than 50 per cent capacity share from Chennai, and have network strategies similar to that of AirAsia.

Jet shares jump on reports about Etihad-Jet stake deal

Jet shares jump on reports about Etihad-Jet stake dealStock in Jet Airways gained more than 10 per cent to Rs 555.85 a share on the National Stock Exchange (NSE), and 9.93 per cent to Rs 554.10 a share on the Bombay Stock Exchange (BSE) on Friday, on the back of reports that Etihad Airways was in the final stage of buying a stake in the Indian carrier.

A news channel reported that Abu Dhabi-based Etihad Airways might buy a 10 per cent to 12 per cent stake in Jet Airways directly from promoters. The channel added that Etihad might pay up to Rs 750 per share for the stake.

Samsung reportedly developing 5.9-inch phablet

Samsung reportedly developing 5.9-inch phabletThe Korea Times reported on Wednesday, citing an unidentified Samsung official, that a 5.8-inch phablet will be unveiled by Samsung in the second half of this year; a move which will further reinforce the South Korean company's dominance in the phablet arena.

According to the details shared by the Samsung official on the condition of anonymity, Samsung has plans underway to introduce a new phablet - a smartphone-cum-tablet device - which will feature a 5.9 inch organic light-emitting diode (OLED) screen.

Standard Chartered increases dividends to 56.77 cents a share

Standard Chartered increases dividends to 56.77 cents a shareBritain's second-largest lender by market value, Standard Chartered Plc has announced that it is increasing the amount of dividend that is to be paid to its shareholders to 56.77 cents a share for the year.

The London-based bank said that the increased dividend would mean that the shareholders will receive a total of 84 cents per share for the year, recording an increase of 11 per cent over 2011.

The bank increased dividend and cut bonuses by 7 per cent after the US authorities imposed a fine of $667 million for violating its sanctions.

LG Electronics' smartphone sales top 10 million

LG-LTE-smartphoneSeoul, March 4 : LG Electronics said Monday that it has sold more than 10 million smartphones based on the high-speed long-term evolution (LTE) technology.

LG's global LTE smartphone sales topped the 10 million mark last week as the company made an aggressive push into the fast- growing fourth-generation (4G) market, according to an e-mailed statement.

The result came as the LTE smartphone market is expected to grow rapidly. According to Strategic Analytics, global shipments of LTE smartphones are forecast to increase to 275 million units this year, reported Xinhua.

PepsiCo sings up Unmukt Chand as new brand ambassador

PepsiCo sings up Unmukt Chand as new brand ambassadorThe Indian unit of the global good and beverages major, PepsiCo has said that it has signed up India's U-19 Cricket World Cup winning team captain Unmukt Chand as its new brand ambassador.




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