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Siemens and Honeywell. The consumer division, which generates a third of sales, makes all manner of devices that can connect with 5G. It has begun releasing fancy smartphones again, but also makes watches, televisions and the systems that control many Chinese electric vehicles (evs).

Odisha commerce and transport minister Bibhuti Bhusan Jena and state law minister Prithiviraj Harichandan have called for a detailed investigation into the helicopter rides taken by VK Pandian, a bureaucrat-turned-politician, between February and September last year. They demand to know how 450 helipads were constructed for these travels, the authorization process, and who funded the rides, reported TOI. Harichandan emphasized the need to investigate the costs and authorization of the helicopter rides. He questioned how government funds were used for constructing helipads and who provided the necessary permissions for Pandian's extensive travels. Pandian, who was then serving as the 5T secretary, visited 400-450 places during this period. “We will investigate who covered the cost of the helicopter rides. Clarity must be provided on this matter. It needs a thorough probe. At the govt level, helipads were constructed wherever the helicopter landed, and govt funds were used. He (Pandian) visited 400-450 places. It is not clear who authorized this and how the authorization was issued. A department secretary does not have the authority to use helicopters. How, then, was permission granted?” TOI quoted Harichandan as saying.

Voltas on Monday posted a 160% year-on-year (YoY) jump in consolidated net profit to Rs 335 crore for the June quarter of FY25. It had clocked Rs 129 crore profit in the year-ago period. The company's income from operations increased 47% YoY to Rs 4,904 crore versus Rs 3,335 crore in the corresponding period of the preceding fiscal.

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New Zealand government has announced significant visa fee increases starting 1 October 2024, impacting nearly all visa categories. Immigration Minister Erica Stanford said that the changes are intended to create a more sustainable immigration system by shifting the financial burden from taxpayers to visa applicants. According to a report by ICEF Monitor, the adjustments are expected to reduce public funding requirements by more than NZ$563 million (US$338 million) over the next four years. Minister Stanford emphasized that the current immigration system has been heavily subsidized by taxpayers. “The changes we’re making are shifting the cost to those benefitting from the system. We’re ensuring it is self-funding and more efficient," she said.

Pixel 7 and Pixel 8 series were launched in early October, almost a month after the iPhone launch that year. Google is also following in Apple's footsteps by launching 4 smartphones during the August 13 event.Rumours suggest that the Pixel 9 will likely have a 6.3-inch display and be available in four colourways: black, light grey, porcelain, and pink.

Mint. While the latest rate hike may not deter Indian corporates from borrowing from Japan, further rate hikes could force them to reconsider their plans. Last week, the Bank of Japan raised its interest rate for the second time in 17 years in another step away from its long-standing ultra-loose monetary policies, setting an interest rate of 0.25%, up from 0-0.1%.

₹45 lakh. Before 1 April 2019, their sales were charged GST at a rate of 12% with the burden lowered by input tax credit (ITC) for levies on inputs. In response to a plea that much of what went into flats was sourced from the informal sector, with no trail of tax bills for respite, that rate was slashed to 5%, but without any ITC granted.

Apart from global factors, expensive valuations, especially in the mid-cap and small-cap segments, and the tepid June quarter earnings performance of corporate India are contributing to the rising volatility. The TTM (trailing twelve months) PE of Nifty Midcap 100 and Nifty Smallcap 250 indices is trading at a premium of 28.5% and 35%, respectively, relative to their five-year average, according to the data compiled from Trendlyne. Research by Capitalmind Financial Services indicates a higher probability of correction in the BSE Smallcap 250 index if earnings don’t catch up. “The PE multiple of BSE Smallcap 250 has expanded by 63%, whereas EPS is flat at -3 %. This expansion is mostly due to the price increase. The continued flat trajectory in the earnings could escalate to a high probability of price correction,” states the study. The study is based on one-year data ending 11 July 2024.

While Joshi started early, the vehicle he chose to reach his destination was not quite appropriate. He bought a traditional life insurance policy to save for his son’s education. For an annual premium of Rs.80,000, the policy covers him for Rs. 8 lakh and will start annual payouts when Swaraj turns 16. The returns work out to less than 6%. “Traditional insurance policies are not the best investment. They usually offer very low returns,” says Rohit Shah, Founder and CEO of GYR Financial Planners. Choosing the wrong investment is a common problem. It becomes even more acute while saving for critical long-term financial goals such as children’s education and weddings. Going for the wrong investment option could leave you with a shortfall in the target amount and jeopardise your planning. A study by financial planning firm, Finsafe India, shows that one out of three investors do not know where to invest. “This indicates a strong need for better financial education and investment guidance,” says Mrin Agarwal, Founder and CEO, Finsafe India.

Garuda Aerospace has expanded its operations in Sri Lanka, the first as part of its Global Garuda initiative which aims to increase the company’s presence in 50 countries, its chief executive officer, Agnishwar Jayaprakash, told ET. The Chennai-based company said it chose the island nation as the local drone policies were still developing and the new government was keen to promote technology and precision in agriculture and industries, seeking to reduce dependence on tourism. «We are traditionally a precision agricultural drone company. This year, we've seen revenues touch over Rs 100 crore and we saw a lot of attention coming in from overseas for our precision agriculture drones in particular. So we felt this was the right time to start making measured and cautious steps to expanding in overseas markets,” Jayaprakash said. “Sri Lanka because of its proximity to India, its developing drone regulation and smaller market was the perfect launchpad for us before venturing into other regions.»

shipbuilding policy that includes introducing a recycling credit note scheme, a fixed rate of subsidy for 10 years and the establishment of three maritime clusters in Andhra Pradesh, Gujarat and Odisha, officials said. This is part of the Centre's push to grab a larger share of the global shipbuilding market, they added. It's proposed that a credit note equivalent to 40% of the scrap value of a ship being dismantled in an Indian breaking yard would be given to fleet owners, both Indian and global. This can be reimbursed against the cost of construction of a new vessel at an Indian yard, officials said. «With this scheme, fleet owners will be encouraged to recycle ships in India,» one of them said. «The only condition is that they will have to build new ships in India to get the benefit of the scheme. If they go outside India to order new ships, the credit note will not be applicable. The idea is to promote Indian yards in the global market and help them get more orders.»

Telecom companies have called upon the regulator to bring over-the-top (OTT) communication providers such as WhatsApp, Google's RCS and Telegram under regulatory licensing or authorisation since they provide similar services to what mobile phone operators offer. Reliance Jio, Bharti Airtel and Vodafone Idea have also backed the Telecom Regulatory Authority of India's proposal to overhaul the existing telecom licensing regime and bring a pan-India single licence, namely Unified Services Authorisation (National), to enable ease of doing business, simplify regulations, cut costs, reduce litigations and much more, in their response to a consultation paper floated by the regulator. «OTT services and applications have thrived and multiplied, enabling factors being absence of any regulatory barriers and instant access to a global audience through the broadband connectivity powered internet,» Airtel wrote in its response to Trai's exhaustive consultation.

Indian real estate sector is witnessing a transformation driven by the integration of advanced technologies, particularly artificial intelligence-based project monitoring systems. The technology-supported innovative solutions ensure that projects, regardless of the developer's size, are monitored to meet institutional investor standards, opening new financing avenues for mid-sized developers. “Technology is playing a pivotal role in reshaping capital allocation in the Indian real estate sector. By reducing risks, enhancing transparency, and improving operational efficiency, these advancements are not only opening up new opportunities for mid-sized developers but also contributing to a healthier, more sustainable industry,” Dosti Realty chairman and managing director Deepak Goradia said.

candidates for the Sri Lankan presidential election would cause no expenditure issues, a minister said on Sunday. Finance State Minister Ranjith Siyambalapitiya said that the expenditure estimate for the election has not yet exceeded the Rs 10 billion limit. «If the number of candidates becomes too large for the ballot paper, an extension may be needed. This could lead to an increase in the number of ballot boxes and an additional cost of about Rs 100 million per candidate. However, preparations are being made to fund the submitted estimates,» he said. «The Election Commission noted that Rs 10 billion has been allocated for the election. There is still money left after the allocations for the submitted estimates. They added that aside from expenses such as printing, security and transport, some costs like officials' allowances, do not need to be spent immediately,» the minister said.

U.S. health officials have approved the first nasal spray to treat severe allergic reactions, offering an alternative to injectable products like EpiPen

Stellantis is warning that it could lay off as many as 2,450 of the 3,700 union workers employed at a truck plant just outside of Detroit

Lonesome Day. Fifteen minutes on, they were playing my favourite Springsteen number No Surrender, and the energy in the stadium had gotten people in the rows in front of us on their feet, and soon everyone was standing and singing along with the E Street Band. Of course, once people in front of us were standing we also had to stand up in order to get a better view of the stage.

Mortgage rates haven’t been this attractive in more than a year, good news for homeowners eager to refinance

The U.S. Navy is struggling to build affordable warships needed to face expanding threats around the world

lab-grown diamond industry is facing challenges such as significant fall in prices, eroding consumer interest and competition from imports, think tank Global Trade Research Initiative (GTRI) said Sunday, adding said that though India faces the issue of production overcapacity, it continues to import in large amounts and this issue needs deeper investigation. To address these challenges, the government needs to take certain steps such as setting clear and consistent rules to standardize quality, certification, and market practices; issuing a Quality Control Order to check quality of imports; and investment in research and development to improve production processes, reduce costs, and enhance the quality of lab-grown diamonds. As per the report, India’s lab-grown diamond industry is facing a major challenge, with prices falling by 65% in the past year to Rs 20,000 per carat from Rs 60,000 due to local overproduction and oversupply from abroad, which points to problems like overproduction, high imports, and lack of regulation. The number of units producing lab-grown diamonds in India has increased to 10,000 units, leading to over supply and tougher competition.