High taxes on luxury vehicles in India, according to Mercedes-Benz, are limiting growth in the sector and the market considering its limited size is unlikely to expand rapidly, unless the tax structure is modified. However, after a 40% drop in demand due to the Covid-induced lockdown last year, demand has quickly recovered. “I believe the luxury market’s growth […]
Category Archives: Business
The Hero Motors Company of India (HMC) Group announced on Tuesday plans to establish a new international headquarters in London, Hero International (HIT), as part of a drive towards expanding and strengthening Hero Cycles’ international presence. And the company aims to bring the European companies of HMC to one level and give their electric motorcycle […]
On Monday, the Nobel Prize winner economist Paul Krugman said that India should not return to the ‘licence raj’ and that the country should have a deliberate strategy for promoting industries. Krugman also said that income inequality is a serious problem in India, speaking at a virtual event organised by Ashoka University. “Don’t return to […]
The insurance regulator on Monday prohibited health insurers from changing or adding new benefits to current health plans if doing so would result in higher premiums, in an effort to shield policyholders from any unexpected increases in premiums as a result of such reforms. In a circular on product filing in health insurance on different […]
According to data released by the National Payments Corporation of India, SBI became the leading remitter on the UPI platform in February, while Paytm Payments Bank led the chart on the beneficiary segment. PhonePe holds top position in the app category on the UPI platform in terms of volume and amount involved in transactions. According […]
Uber is reclassifying its 70,000 UK drivers after the UK Supreme Court upheld a decision last month that they should be listed as employees rather than independent contractors. The company announced on Tuesday that drivers would be entitled to minimum wage, sick time, and a pension as “staff” — a classification special to employment law […]
Union Finance Minister Nirmala Sitharaman said on Tuesday, the last day of a two-day bank strike against the privatization programme, that the government has no plans to privatize all public sector banks in the world. When public sector banks are privatized, Sitharaman said that all measures will be taken to protect the interests of current […]
Twitter, an American microblogging and social networking site, has announced a new update that will soon enable users to use security keys as their sole method of authentication as well as multiple security keys per account rather than just one. Users usually use a security key to sign in to their Twitter accounts and even […]
Answering to the questions asked by three MP’s, Ramesh Pokhriyal said that the number of vacancies for the reserved candidates or post all over the centrally runed higher education institutes including IIM hovered between 20% and 90%. Study says that 62% of SC, 79% ST and 63% of the OBCs faculty posts are lying vacant […]
According to the Indian Oil Minister Dharmendra Pradhan, the government is not considering a plan to split state-owned gas utility GAIL and the company is focusing on building pipelines to link gas sources to consumers, in order to speed up gas use. GAIL is India’s largest natural gas marketing and trading group, with a 60 percent […]