Business

Xiaomi leads Indian wearables market in Q2: IDC


New Delhi, Aug 30: Xiaomi led the Indian wearables market with a 46 per cent share and 31 per cent quarter-over-quarter (QoQ) growth as shipments crossed the one million mark in the second quarter of 2018, International Data Corporation (IDC) said on Thursday.The Indian wearables market witnessed an impressive growth of 66...

High crude oil prices drive rupee to fresh low


Mumbai, Aug 30: High global crude oil prices, along with continuous outflow of foreign funds pulled the Indian rupee to a fresh low on Thursday.According to analysts, caution ahead of key macro-economic data, coupled with a rise in demand for US dollars also dragged the rupee lower. High crude oil prices and month-end...

Indian enterprises to spend $1.7 bn on bolstering security in 2018


Mumbai, Aug 30: Increasing security breaches amid skill shortage will push enterprise spending on information security products and services in India to reach $1.7 billion in 2018, Gartner said on Thursday.This is an increase of 12.5 per cent from 2017. In 2019, the market is forecast to hit $1.9 billion. Continued focus on...

Tim Cook richer by $57 mn after Apple hits $1-trillion mark


San Francisco, Aug 30: Apple CEO Tim Cook became richer by over $57 million in a jiffy when he sold shares given to him as the company's market cap earlier this month exceeded $1 trillion for the first time.According to a US regulatory filing, Cook sold 2,65,000 Apple shares worth $121 million,...

‘All post offices to be linked to India Post Payments Bank system by Dec 31’


New Delhi, Aug 29: All the 1.55 lakh post offices in the country would be linked to the India Post Payments Bank (IPPB) system by December 31, 2018, Communications Minister Manoj Sinha said on Wednesday.The India Post Payments Bank is scheduled to be launched nation-wide on September 1. On the day of the launch, IPPB...

High crude oil prices dent rupee; touches record low


Mumbai, Aug 29: High global crude oil prices and a rise in the demand for US dollar pulled the Indian rupee to a fresh low on Wednesday.However, at 2.05 p.m., the rupee recovered to 70.50-51 after it had plunged to 70.55 -- the lowest ever mark -- against the greenback on the back of...

Equity indices end in red as rupee slumps to all-time low


Mumbai, Aug 29: Key Indian equity indices closed in the negative territory on Wednesday as the rupee slumped to an all-time low, while weak global cues further subdued the sentiments, analysts said.The Indian currency earlier in the day plunged to 70.55 per dollar, the lowest-ever level, which dampened the domestic investor sentiments. Although the indices...

Over 99% of demonetised notes back with RBI


Mumbai, Aug 29: Over 99 per cent of the Rs 15.3 lakh crore taken out of circulation through demonetisation in November 2016 has returned to the Reserve Bank of India (RBI), the central bank announced on Wednesday.The RBI's annual report 2017-18 said that on completion of the process of verification of the scrapped Rs...

IBM India partners with 5 tech firms to tackle natural disasters


Bengaluru, Aug 29: IBM on Wednesday announced a partnership with several technology giants as part of its Call for Code Global Initiative to create solutions to mitigate the aftermath of natural disasters.The programme, launched by IBM in May 2018, now includes Persistent Systems, Invest India, Wipro Limited, Capgemini and NASSCOM. It aims to bring start-ups,...