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Rata Tata becomes investor in Chinese mobile giant Xiaomi

New Delhi, Apr 26: Chinese smartphone giant Xiaomi has been given a big boost in its drive to expand its footprint in India. Ratan Tata, Chairman Emeritus of Tata Sons, has become an investor in the Chinese company, Xiaomi’s Vice President Global Hugo Barra announced on Sunday. “We’re really excited to announce our newest Xiaomi investor – Mr Ratan Tata, Chairman Emeritus of... 
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India cuts dependence on Iran oil to less than 6%

New Delhi, July 22: India has cut its reliance on Iran for meeting its oil needs to less than 6% as it raised imports from countries like Columbia and Mexico. India imported 11 million tonnes of crude oil from Iran in the fiscal year ending March 31, 2014, down from 13.14 million tonnes in the previous fiscal, official sources said. The imports from Iran made up for 5.81% of the nation’s oil... 
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Vijay Mallya battles against winding up Kingfisher

Bangalore, Sep 13: Debt-ridden Kingfisher Airlines’ beleaguered chairman Vijay Mallya is battling against aircraft lessors and financiers who moved the Karnataka high court for winding up the company for defaulting on loans by his holding company – United Breweries Holdings Ltd. “As the cases are in the high court and the matter is under sub judice, I will not be able to comment.... 

‘Regional TV channels showing phenomenal growth’

Mumbai, March 12: Regional channels accounted for around 27 percent of the total television viewership in 2012, said a just released Ficci-KPMG report on the Indian media and entertainment industry. The report said that while Tamil and Telugu markets accounted for around 50 percent of the total regional viewership, Marathi and Bengali markers account for 29 percent of the regional viewership. “Regional... 

AirAsia’s entry “positive” for aviation industry, fliers: Experts

New Delhi, March 11: Malaysian budget carrier AirAsia’s entry into the Indian sky with a new airline In partnership with the Tata Group, the country’s premier business house, will help the domestic aviation industry grow and get better deals to passengers, say sector watchers. “It is a very positive move for the industry and the passengers. As more players would help in development... 

Apple iPhone 5S Release date… Rumours or authentic?

Continuing the legacy of rumors related to Apple products, speculations surrounding the next iPhone iteration, amusingly dubbed the “iPhone 5S,” started gaining traction hardly a couple of months after the release of the iPhone 5, the latest model of the company’s flagship smartphone. As current rumors go, predictions of a possible release date for the iPhone 5S range from the first quarter... 
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Mallya’s beer plant faces action for running without clearance

Bangalore, Oct 22: Reeling under massive financial crisis of his Kingfisher airlines, liquor baron Vijay Mallya was in for another shock Saturday – his firm’s greenfield beer plant in Karnataka could face action for “unofficially” operating without pollution board clearance. The plant at Nanjangud in Mysore district, about 160 km from Bangalore, has been operating “unofficially”... 

Apple’s iPhone 5 gets thumbs-up from Consumer Reports

San Francisco, Oct 7: Consumer Reports, the influential reviewers’ group that blasted the iPhone 4 for a faulty antenna, has given Apple Inc’s latest smartphone a thumbs-up despite echoing widespread complaints about its patchy mapping service. The organization, which in 2010 withheld its recommendation for the iPhone because of spotty reception when the gadget was held in a certain way,... 

Sensex at 15-month high, closes above 19,000-mark on reform hopes

Mumbai, Oct 4: A benchmark index of Indian equities markets Thursday rallied to a 19,000-high for the first time in almost 15 months on the government’s fresh reforms push. Good inflows of foreign capital also helped boost sentiment at Dalal Street. Banking, realty and capital goods stocks gained the most. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened... 

Reliance MediaWorks JV to buy James Cameron’s firm Digital Domain; shares jump 15%

New Delhi, Sep 27: Shares of Anil Ambani-controlled Reliance MediaWorks jumped 15% on Monday after the company announced that it had jointly made a winning bid with China’s Galloping Horse to acquire Digital Domain, founded by the maker of blockbusters films Titanic and Avatar, James Cameron. The $30.2-million bid for the visual effects and animation firm has been made in an auction in New York,...