Tag Archives: Surge

GenNext to fuel used car surge in India

New strategy Mahindra First Choice is pulling out all stops to make the experience of buying used cars comfortable at its outlets Cox Automotive believes the country will be among the top four markets by 2020 Rob Huting has this interesting update about China’s used car market. “Till about five years ago, buying used cars in the Chinese market had ... Read More »

23% Jan Dhan Accounts Still Without Balance, Deposit Surge Abates

The upper limit for deposits in Jan Dhan account is Rs. 50,000. New Delhi: Despite a huge surge in total deposits in Jan Dhan accounts following demonetisation, about one-fifth of these still continue to have no balance. Net addition in the 25.8 crore Jan Dhan accounts was just Rs. 288 crore during the week ended December 7, taking total deposits ... Read More »

Samsung Expects Q3 Profit Jump as Chip Surge Eases Galaxy Note 7 Recall Blues

South Korea’s Samsung Electronics Co expects third-quarter profit grew 5.6 percent, beating estimates, as a pickup in chip and display earnings likely offset the impact of a global smartphone recall that has roiled the tech giant. The world’s biggest smartphone maker said in a brief filing on Friday its operating profit for July-September was likely KRW 7.8 trillion ($7 billion), ... Read More »

Odd-Even Rule: Uber Temporarily Suspends Surge Pricing In Delhi

Taxi aggregator Uber has put a temporary suspension on its controversial surge pricing on the ‘first working day’ of the second implementation of the odd-even rule for cars in Delhi. Chief Minister Arvind Kejriwal on Monday had warned taxis against surge pricing – through which taxi aggregators like Uber and Ola raise prices to cater to higher demand. “Given the ... Read More »

India’s Foreign Exchange Reserves Surge To Record High Of $360 Billion

New Delhi: India’s foreign exchange reserves swelled to a record high of $360 billion for the week ended April 1, largely on account of the Reserve Bank of India’s dollar purchases to rein in the rupee’s strength as foreign funds poured into Indian financial markets, analysts said. Foreign investors added Indian debt and equities worth $3.7 billion in March, the ... Read More »

Bulls Chalk One Up after Late-Day Surge on Wall Street

U.S. stocks mounted a late-session rally to close higher on Wednesday after an increase in oil prices helped reduce investors’ fears about banks’ vulnerability to energy companies struggling to pay their debts. Nine of the 10 major S&P sectors rose, with the materials index up 0.99 percent. The S&P energy sector gained 0.9 percent, trimming its loss in 2016 to ... Read More »

Mahindra Sales Surge 9.6% in January

New Delhi: Mahindra & Mahindra on Monday reported a 9.66 per cent increase in total sales at 43,789 vehicles last month. The company had sold 39,930 units in January 2015, it said in a statement. In the domestic market, its sales were up 9.84 per cent at 40,693 units last month as against 37,045 units in January 2015. Exports were ... Read More »