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Samsung Reportedly Likely to Procure Phone Batteries from LG Chem

Samsung Electronics Co Ltd is in talks with LG Chem Ltd to make it one of its smartphone battery suppliers, the Chosun Ilbo newspaper said on Monday – a move that would diversify its supplier base after the failure of its Galaxy Note 7. Samsung Electronics, the world’s top smartphone maker, currently procures Note batteries from group firm Samsung SDI ... Read More »

RInfra Fund Files Draft Red Herring Prospectus To Raise Rs. 3,000 Crore

Mumbai: Reliance Infrastructure (RInfra) said on Friday that it has filed initial papers with the Securities and Exchange Board of India (Sebi) to raise Rs. 3,000 crore through a draft red herring prospectus (DRHP). “The Reliance Infrastructure InvIT Fund (RInfra InvIT), has filed the DRHP with the Securities and Exchange Board of India and the issue size is Rs. 3,000 ... Read More »

HDFC Gets Nod To Raise Rs 3,000 Crore Through Masala Bonds

Mumbai: Having already exhausted a Rs 5,000 crore limit to issue masala bonds, mortgage major HDFC on Saturday said the Reserve Bank of India has granted it permission to raise another Rs 3,000 crore from the newly emerging route. “We have approval from the RBI to raise more money. I think, we have approval for Rs 3,000 crores. But, we ... Read More »

Asia Stocks Find Relief As China Set To Return Seized US Drone

MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.1%. Tokyo: Asian shares steadied in early trade on Monday after China agreed to return a US drone it had seized, easing worries about rising diplomatic tensions between the world’s two biggest economic powers. MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.1 per cent after falling to ... Read More »

Foreign Reinsurers To Be Operational In 6-9 Months, Says Regulator

Kolkata: The Insurance Regulatory and Development Authority of India (IRDAI) on Friday said it expects foreign reinsurers, which will get final clearance from the insurance regulator, to be operational in the country over the next six to nine months. “We are hopeful that global reinsurance companies which will get final clearance from the regulator to open their branches in India ... Read More »

Commerce Minister Says India Aspires To Reach 3.5% Of Global Trade By 2020

Commerce Minister Nirmala Sitharaman said India’s share is 2% of total global trade. Commerce Minister Nirmala Sitharaman said India’s share is 2% of total global trade. New Delhi: Commerce Minister Nirmala Sitharaman on Saturday said that India should reach 3.5 per cent of total global trade by 2020 from its current share of two per cent. “Our share is 2 ... Read More »

Honda Cars India To Increase Prices By Up To 3% From January 2017

Honda Cars India has announced a price hike of up to 3 per cent for all its models effective from January 2017. Apart from year end offers and schemes, December is also the month when carmakers announce price revisions for next year. And Honda Cars is the latest addition to that list. In fact, Honda is the seventh carmaker in ... Read More »

Audi India Appoints Rahil Ansari To Replace Joe King As Head Of Operations

Volkswagen group firm Audi has announced a top management change in India with the appointment of Rahil Ansari as head of the operations here with effect from 1st February 2017. Ansari will take over as Head of Audi India from the incumbent Joe King, who will move back to Audi headquarters in Germany. Commenting on the change, Volkswagen Group Sales ... Read More »

Xiaomi Mi Note, Mi Max, Mi 4c, Mi 4s, Others to Receive Android Nougat Update

Xiaomi officials have confirmed that the Android Nougat update is coming for its smartphones. The Xiaomi Mi 4c, Xiaomi Mi 4S, and Xiaomi Mi Note will be among the first to receive the update followed by the Xiaomi Mi Note 2, Xiaomi Mi 5s Plus and Xiaomi Mi Max. The company confirmed the update through Weibo. The company says the ... Read More »

Axis Bank Cuts Lending Rates By Up To 0.15%

Mumbai: Country’s third largest private lender Axis Bank on Friday announced up to 0.15 per cent reduction in its lending rates, signalling a further downward trend in borrowing costs. The Ahmedabad-headquartered bank cut its overnight marginal cost of funding-based lending rate – the most competitive offering by rates – by 0.10 per cent to 8.55 per cent. The MCLRs for ... Read More »