Day: September 5, 2019

Nokia May Lay Off 10000 Employees By 2013 End Shutting Down ManufacturingNokia May Lay Off 10000 Employees By 2013 End Shutting Down Manufacturing


first_imgMobile Titan Nokia may terminate 10,000 of its employees along with plant shutdowns by 2013 end as part of the company’s biggest financial overhaul amid mounting losses incurred over the years.The Finnish cell phone maker announced Thursday that it may shutdown manufacturing plants in Canada, Germany and Finland. However, the company plans to continue with research and development operations in the Finnish province of Salo.If the company goes ahead with the planned job cut, the total loss of jobs would cross 40,000.”We must re-shape our operating model and ensure that we create a structure that can support our competitive ambitions,” Stephen Elop, CEO of Nokia in a press statement.The company added that restructuring charges may amount to 1 billion euros and hopes to implement additional cost reductions to the tune of 1.6 billion euros by late 2013. Other cost reduction targets Nokia is planning to achieve by the end of next year is reducing operating expenses on Device & Services to an annualized run rate of around 3.0 billion euros.Restructuring cash outflows are expected to come around 650 million euros and 600 million euros in 2012 and 2013 respectively, while non-cash charges should stand at 200 million euros, Nokia said.”These planned reductions are a difficult consequence of the intended actions we believe we must take to ensure Nokia’s long-term competitive strength,” Elop added.Nokia shares suffered significantly since the introduction of Apple’s iPhone and Samsung.The company’s market share, including handset shipments, dropped considerably since smartphone giants Apple and Samsung released their smartphones. Nokia’s handset shipments dropped 24 percent in the first quarter.Meanwhile, the company is banking on its new phones for survival. Nokia’s partnership with Microsoft in 2011 resulted in the production of the Lumia smartphones.”We intend to pursue an even more focused effort on Lumia, continued innovation around our feature phones, while placing increased emphasis on our location-based services,” Elop said Thursday.Nokia shares dropped 9 percent and were down 6.9 percent at 0711 GMT on Thursday’s morning trade session.last_img read more


Air India joins Star Alliance groupAir India joins Star Alliance group


first_imgAir India joins Star Alliance group1.7K views00:00 / 00:00- 00:00:0000:00Air India joins Star Alliance group1.7K viewsBusinessNew Delhi, June 24 (ANI): Civil Aviation Minister Ashok Gajapathi Raju on Tuesday announced the alliance of Air India with the Star Alliance group. The government expects that the step would help the ailing national carrier come out of its losses. Ending a seven-year-long wait, the Star Alliance Chief Executive Board (CEB), at its meeting in London on Monday, gave an endorsement vote to induct Air India into the fold.Ventuno Web Player 4.50New Delhi, June 24 (ANI): Civil Aviation Minister Ashok Gajapathi Raju on Tuesday announced the alliance of Air India with the Star Alliance group. The government expects that the step would help the ailing national carrier come out of its losses. Ending a seven-year-long wait, the Star Alliance Chief Executive Board (CEB), at its meeting in London on Monday, gave an endorsement vote to induct Air India into the fold.last_img read more


Did Chandrababu Naidu really offer Rs 50 crore to RGV to stopDid Chandrababu Naidu really offer Rs 50 crore to RGV to stop


first_imgLakshmi’s NTRTwitterAndhra Pradesh Chief Minister Nara Chandrababu Naidu reportedly offered Rs 50 crore to RGV aka Ram Gopal Varma to stop the release of Lakshmi’s NTR, but the latter rejected this deal.Lakshmi’s NTR is the next biopic movie of NT Rama Rao to hit the screens after the releases of NTR: Kathanayakudu and Mahanayakudu. But unlike the first two, this movie has been a talk of the T-Town for its subject, which is all about the controversial last days of NTR whose power was snatched by Nara Chandrababu Naidu during this days. The movie projects the latter as the backstabber of the former.Lakshmi’s NTR is scheduled for its theatrical release on March 22, weeks ahead of the Andhra Pradesh Assembly elections. Ram Gopal Varma openly has used the name of Nara Chandrababu Naidu for its promotion and termed him as the backstabber of NT Rama Rao several times. But the Chief Minister and the TDP have been silently watching with little action against him and this has wondered many in the state.Of late, it was rumoured that Lakshmi’s NTR is about real-life incidents in Chandrababu Naidu’s life and he has little room to counter Ram Gopal Varma on the legal grounds. As an eye washer, he got a complaint filed against the director. But he was making backdoor efforts to stall its release. He was said to have offered Rs 50 crore to RGV to stop the release of the movie. Chandrababu NaiduSTR/AFP/Getty ImagesThe TDP has not responded to rumours about Chandrababu Naidu’s Rs 50 crore deal to Ram Gopal Varma. It was also said that the filmmakers suffered a severe setback due to back-to-back failures, which are said to have landed in huge debts. He was said to be accepting this deal, which will help him clear his debts.But in an interview, producer Rakesh Reddy, who is bankrolling Lakshmi’s NTR, revealed that people told him that AP CM was going to offer 50 crores to RGV not to stop its release. But he slammed the rumours saying that he knows RGV well. He is well settled with good business circulations and has no debts. He is not a person who loses his self-esteem for money and he would never do something like that.Ram Gopal Varma is known for his crazy promotion strategies for his movies. Many in the film industry feel that Chandrababu Naidu’s Rs 50 crore deal must be a part of his publicity stunt. So there may not be true in the reports about this deal.last_img read more


BSE closes points 25987 down on August 8BSE closes points 25987 down on August 8


first_imgBSE closes points 259.87 down on August 816K views00:00 / 00:00- 00:00:0000:00BSE closes points 259.87 down on August 816K viewsBusinessNew Delhi, August 8 (ANI): Trading at the Bombay Stock Exchange today closed 259.87 points down to stand at 25,329.14. At the National Stock Exchange the Nifty closed 80.70 points down to stand at 7,568.55. Oracle Financial Services Software Ltd. and Apollo Hospitals Enterprise Ltd. were among the top gainers of Group A with an increase of 2.92% and 2.69% along with Pidilite Inds and Bharti Airtel with an increase of 2.49% and 2.31% respectively, while the top losers of Group A include Bhushan Steel and JPPOWER with a decrease of 9.99% and 6.01% along with Torrent Power and SSLT with a decrease of 5.80% and 5.71% at the close of the markets. The Auto sector is down 214.69 points at 15,544.33 while the banking sector is down 258.61 points at 16,903.81 and the reality sector is down 73.82 points at 1,838.98. The Indian currency is up 0.21% at Rs 61.35 per dollar.Ventuno Web Player 4.50New Delhi, August 8 (ANI): Trading at the Bombay Stock Exchange today closed 259.87 points down to stand at 25,329.14. At the National Stock Exchange the Nifty closed 80.70 points down to stand at 7,568.55. Oracle Financial Services Software Ltd. and Apollo Hospitals Enterprise Ltd. were among the top gainers of Group A with an increase of 2.92% and 2.69% along with Pidilite Inds and Bharti Airtel with an increase of 2.49% and 2.31% respectively, while the top losers of Group A include Bhushan Steel and JPPOWER with a decrease of 9.99% and 6.01% along with Torrent Power and SSLT with a decrease of 5.80% and 5.71% at the close of the markets. The Auto sector is down 214.69 points at 15,544.33 while the banking sector is down 258.61 points at 16,903.81 and the reality sector is down 73.82 points at 1,838.98. The Indian currency is up 0.21% at Rs 61.35 per dollar.last_img read more


Dalit icon Mayawati opts out of Lok Sabha elections how will thisDalit icon Mayawati opts out of Lok Sabha elections how will this


first_imgMONEY SHARMA/AFP/Getty ImagesBahujan Samaj Party chief Mayawati on Wednesday said that she will not be contesting the upcoming Lok Sabha elections. This comes as a shock since it was assumed that the BSP supremo, who never shies away from taking a dig at Prime Minister Narendra Modi, would compete against the BJP and Congress and gain a foothold in Uttar Pradesh. A war of words has been going on between BSP and BJP over the past few days with Mayawati making fun of PM Modi’s #MainBhiChowkidar campaign and BJP going to an all new low by speaking about her physical appearance. Mayawati had earlier tweeted, “The person who lives life in a royal manner, as against the principle of simple living and high thinking, had portrayed himself as a ‘chaiwallah’ (tea seller) in the last Lok Sabha elections for votes.” She also said, “Now he is declaring himself a chowkidar (watchman) with pomp and show for votes in the elections. The country is really changing!”In response, Baria’s BJP MLA Surendra Singh had said, “She gets a facial every day. The person who herself gets a facial daily is telling our leader that he is ‘shaukeen’ (vain).”He added, “Wearing clean clothes is not being ‘shaukeen’. Colouring hair at the age of 60 to look young is ‘shaukeen’. Her hair has turned grey but she colours it black.”last_img read more


TCS Denies LargeScale Layoffs But Says 500 More Employees Will be AskedTCS Denies LargeScale Layoffs But Says 500 More Employees Will be Asked


first_imgSoftware services firm Tata Consultancy Services (TCS) has denied rumours of planned, large-scale layoffs, saying “involuntary attrition” of 2,574 employees does not tantamount to a plan, but said the number will go up to 3,000 in the coming months.  The company employs about three lakh people. “There have been discussions on various social media forums about alleged large scale layoffs at TCS…we would like to place on record that TCS has not initiated, and is not planning to initiate any large scale exits of any section of its staff in any part of the organisation,” reports PTI, quoting a company statement. “The involuntary attrition for the nine months (April-December) of this year has been 2,574 employees, which represents 0.8% of the total employee strength,” said TCS. “The corresponding numbers for FY’14 and FY’13 were 2,203 and 2,132 respectively. The total involuntary attrition for the current fiscal year (ending March 31, 2015) will be around 1 per cent,” it added.In December last year, a report suggested that TCS is planning staff restructuring and around 25,000 senior employees are at the verge of losing their jobs at the company. This created a stir among IT company employees across India who threatened to stage protests against TCS’ move, while those who have been asked to quit the company are reportedly planning legal action against the company.last_img read more


Galaxy Fold video proves Samsung pathbreaking phone is durable and worth buyingGalaxy Fold video proves Samsung pathbreaking phone is durable and worth buying


first_imgRAM12GB RAM(LPDDR4x) Display Processor7nm 64-bit Qualcomm Snapdragon Octa-core processor (Max. 2.8 GHz + 2.4 GHz + 1.7 GHz) Front dual camera ModelGalaxy Fold CameraCover camera10MP Selfie Camera, F2.2 Rear triple camera Close Storage512GB (UFS3.0) *User memory is less than the total memory due to storage of the operating system and software used to operate the device features. Actual user memory will vary depending on the operator and may change after software upgrades are performed. *No MicroSD slot Main display: 7.3-inch QXGA+ Dynamic AMOLED (4.2:3)Cover display: 4.6-inch HD+ Super AMOLED (21:9) After months of speculations, Samsung pulled the wraps off the company’s most ambitious phone Galaxy Fold in the US in late February 2019. The initial reactions from the media, which had the opportunity to have a closer look at the path-breaking mobile were overwhelming.In my personal opinion, Samsung Galaxy Fold is more practical compared to Huawei’s Mate X for one sole reason, as the former folds inwards protecting the larger screen from daily wear tear and also had small cover screen to call pick and message reading, but the latter, folds outwards is vulnerable to scratches and even damage if it fell on the ground. And, mind the phones are expensive and screen replacement will leave you with a deep cut in the pocket. Samsung Galaxy Fold set to hit stores in late April 2019.Samsung Mobile PressHowever, there was one question which I and many tech critics were concerned about the longevity of the fold feature. Like all physical objects, over time, they tend to degrade and since it is a first generation phone, there are a lot of improvements needed, which the successor will be fine-tuned.Now, Samsung has given us a sneak peek on the testing of the Galaxy Fold’s flexible nature of the screen and how much bending and opening it can sustain. Having seen the video, I have no hesitation to say the South Korean company rightly deserves praise for the development of the Galaxy Fold. It has reportedly tested the device folding in and out for more than 200,000 times to make sure the Galaxy Fold lasts long and worth price it commands. It costs $1980 (approx. Rs 1,36,655).”Naturally, given the smartphone’s design, a Folding Test was a pivotal part of the Galaxy Fold’s durability assessment. This test, which examines whether the Galaxy Fold can outlast 200,000 folds and unfolds (or around five years of use, if used 100 times a day), takes a full week to complete. While the extent of the test may seem like overkill to some, Samsung viewed it as vital to ensuring the durability of the device’s hinged design and Infinity Flex Display,” Samsung said in a statement.After the Galaxy Note 7 fire fiasco, Samsung has made tremendous strides in terms of durability, reliability, safety in its products and it’s fitting that Samsung is the world’s number one smartphone brand. It can be noted that Samsung has confirmed to launch the Galaxy Fold in India in coming months.Galaxy Fold can work both as a single-hand friendly mobile 4.6-inch HD+ AMOLED-based cover display and also turn in to a full-fledged tablet with 7.3-inch QXGA+ Dynamic AMOLED, when unfurled.”Galaxy Fold opens smoothly and naturally, like a book, and closes flat and compact with a satisfying click. To achieve this, Samsung engineered a sophisticated hinge with multiple interlocking gears. This system is housed in a hidden enclosure for a seamless and elegant look”, the company claims.Samsung Galaxy Fold has been tested with more than 2000 flips to check the durability of the flexible display.Samsung Newsroom/YouTubeThe demo in the event showed Galaxy Fold seamlessly without any flaws in terms of viewing content on the small cover screen and see the same interface on the wide flexible screen when opened. It also offers an industry first feature that allows users to multi-task three different apps on the same screen. It also has a big battery of 4,500mAh battery, which is more than enough for the whole day of work on the phone. With such a big screen and a cell, you are assured to have the best viewing experience while watching videos on Netflix or Amazon Prime Video.It has six cameras, one 10MP sensor on the cover display, two (10MP + 8MP depth sensor) inside the wide-screen and three (16MP + 12MP wide-angle +12MP depth) more on the rear-side, thus ensuring consumers can work the phone’s camera the same as the any other mobile in the market and most importantly, they can capture remarkable images in detail. Samsung Galaxy S10 5G coming to South Korean markets first.Samsung Mobile PressUnder-the-hood, it comes with Qualcomm Snapdragon 855 octa-core processor with Android Pie OS, 12GB RAM and 512GB storage UFS 3.0.Key specifications of Samsung Galaxy Fold:ModelModelGalaxy FoldGalaxy FoldModelDisplayGalaxy FoldMain display: 7.3-inch QXGA+ Dynamic AMOLED (4.2:3)Cover display: 4.6-inch HD+ Super AMOLED (21:9)ModelOSGalaxy FoldAndroid 9.0 PieModelProcessorGalaxy Fold7nm 64-bit Qualcomm Snapdragon Octa-core processor (Max. 2.8 GHz + 2.4 GHz + 1.7 GHz)ModelRAMGalaxy Fold12GB RAM(LPDDR4x)ModelStorageGalaxy Fold512GB (UFS3.0) *User memory is less than the total memory due to storage of the operating system and software used to operate the device features. Actual user memory will vary depending on the operator and may change after software upgrades are performed. *No MicroSD slotModelCameraGalaxy FoldCover camera10MP Selfie Camera, F2.2ModelRear triple cameraGalaxy Fold16MP Ultra Wide Camera, F2.212MP Wide-angle Camera, Dual Pixel AF, OIS, F1.5/F2.412MP Telephoto Camera, PDAF, OIS, F2.4, 2X optical zoomModelFront dual cameraGalaxy Fold10MP Selfie Camera, F2.28MP RGB Depth Camera, F1.9ModelBatteryGalaxy Fold4,380mAh (typical)* Fast Charging compatible on wired and wireless Wired charging compatible with QC2.0 and AFC Wireless charging compatible with WPC and PMA * 4,380mAh (typical) refers to the typical value of the battery capacity as tested under third-party lab conditions. Typical value is the estimated average value considering the deviation in battery capacity among the battery samples. Rated (minimum) capacity is 4,275mAh. Actual battery life may vary depending on network environment, usage patterns and other factors.ModelColoursGalaxy FoldCosmos Black, Space Silver, Martian Green, Astro BlueModelPriceGalaxy Fold$1980 initially in US from April 26 onward Apple and Samsung Finally Reach A Truce IBTimes VideoRelated VideosMore videos Play VideoPauseMute0:09/0:40Loaded: 0%0:09Progress: 0%Stream TypeLIVE-0:31?Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedSubtitlessubtitles settings, opens subtitles settings dialogsubtitles off, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window. COPY LINKAD Loading … 16MP Ultra Wide Camera, F2.212MP Wide-angle Camera, Dual Pixel AF, OIS, F1.5/F2.412MP Telephoto Camera, PDAF, OIS, F2.4, 2X optical zoom Price$1980 initially in US from April 26 onward ColoursCosmos Black, Space Silver, Martian Green, Astro Blue Battery4,380mAh (typical)* Fast Charging compatible on wired and wireless Wired charging compatible with QC2.0 and AFC Wireless charging compatible with WPC and PMA * 4,380mAh (typical) refers to the typical value of the battery capacity as tested under third-party lab conditions. Typical value is the estimated average value considering the deviation in battery capacity among the battery samples. Rated (minimum) capacity is 4,275mAh. Actual battery life may vary depending on network environment, usage patterns and other factors. 10MP Selfie Camera, F2.28MP RGB Depth Camera, F1.9 OSAndroid 9.0 Pielast_img read more


Steve Smith and Ajinkya Rahane fight Australian shows open dissent against captainSteve Smith and Ajinkya Rahane fight Australian shows open dissent against captain


first_imgSunil Narine will hope to open the innings for KKRIANSKKR easily bested Rajasthan in their last match and consequently moved to the top of the points table. Rajasthan had been restricted to 139 in their quota of 20 overs courtesy some fine slow bowling by the KKR spinners namely, Kuldeep Yadav, Sunil Narine and Piyush Chawla. Harry Gurney, who made his IPL debut was also impressive and was adjudged the man of the match for his efforts that fetched him 2-25 in four overs.Coming out to chase the total, KKR was off to a flying start courtesy the big-hitting of Sunil Narine who smashed Krishnappa Gowtham for 22 runs off his first over. During this time, Steve Smith was talking to the commentators from the field of play and he did not seem too pleased or in sync with his captain Ajinkya Rahane’s decision to hand the ball to Gowtham in just the second over of the run chase. Smith did not like the idea of bowling Gowtham to Narine in the powerplay.Hotstar Screengrab”The spinner, I thought, just bowled too straight,” said Smith to Simon Doull during the third over of the innings when Jofra Archer was bowling. Brett Lee then asked Smith whether he would have preferred attacking Narine with Archer’s pace and bounce instead of Gowtham’s spin. To this, Smith replied, “Not sure, that’s a question for Ajinkya [Rahane] I’d say. But he [Narine] sort of comes at it from ball one. I thought the spin over the wicket wasn’t a great move as it was taking the stumps out of play.”Narine has a fantastic record against spinners in the powerplay since he reinvented himself as an opening batsman in the IPL. Here’s the list of bowlers he’s taken to the cleaners over the last couple of years.18 runs off Samuel Badree against RCB in Kolkata – April 23, 201725 runs off Samuel Badree against RCB in Bangalore – May 7, 201721 runs off Krishnappa Gowtham against RR in Kolkata – May 15, 201825 runs off Varun Chakravarthy against KXIP in Kolkata – March 27, 2019 Rahane will be heavily dependent on his team’s English recruits Stokes and Buttler.Rajasthan Royals InstagramThus, it was understandable why Smith did not seem happy with the choice of the bowler as it basically gave KKR the start they had desired. The 22-run over following the 10-run first over broke the back of the chase and ensured KKR romped home to 140 within 14 overs.Earlier in the day, Smith had top-scored for Rajasthan with 73 runs off 59 balls but that was not enough to help his team. Rajasthan Royals are now second last on the points table and will take on Chennai Super Kings next on April 11. Meanwhile, KKR will also play CSK in their next match which will be held at the MA Chidambaram Stadium on April 9.last_img read more


Who will pick Indias 2019 World Cup squad Here are the 5Who will pick Indias 2019 World Cup squad Here are the 5


first_imgMSK Prasad, former wicket-keeper batsman, is chairman of selectorsThe date has been set. Indian cricket team for the 2019 World Cup will be selected on April 15. But who are the men making the big decisions? The Indian selection committee is unique. It consists of five people representing the five zones of domestic cricket. Let’s get to know these individuals a little betterMSK Prasad – Chairman (South)Mannava Sri Kanth Prasad is the chairman of the selection committee. From Andhra Pradesh, he was never as successful as his namesake Venkatesh from the neighbouring state of Karnataka. To be fair, he played for India at the worst time. Making his debut in 1999, MSK was part of the disastrous tour of Australia where the Sachin Tendulkar-led Indian team received a 3-0 drubbing.Prasad was one of a spate of wicket-keepers India tried after the exit of Nayan Mongia – a search that ended only when Mahendra Singh Dhoni arrived on the stage.Devang Gandhi – (East) Devang Gandhi perished on India’s ill-fated 1999/00 tour of AustraliaDarren England/Getty ImagesOn that same fateful tour of Australia, Devang Gandhi too was a casualty. Gujarati by birth but player for Bengal in Ranji Trophy, Gandhi was an opener who began his career against New Zealand at home.One Test in Australia was, however, enough for Indian team management to feel that he is lacking in technique against pace bowling and send him home. His domestic career was reasonably good with an average of 42.73 in 95 games.Jatin Paranjape – (West)Jatin Paranjape played only four ODIs in his international career. Son of the famous Mumbai cricketer and coach Vasu Paranjape, the 46-year old is also married to the sister of Bollywood actress Sonali Bendre. Unfortunately for him, his relations are more prominent than his record.Gagan Khoda – (Central)Ironically, Gagan Khoda has a highest score of 89 in his international career of two ODIs. Hailing from Rajasthan, Khoda remained a stalwart for his home state and scored more than 8,000 runs in 132 first-class games at an average of 39.06.Sarandeep Singh – (North) Sarandeep Singh is a former Delhi Player and representative of North Zone in selection committeeRebecca Naden – PA Images/Getty ImagesUndoubtedly, the best player among these selectors, Sarandeep – a reliable and consistent off-spinner – had the misfortune of being around at the same time as Harbhajan Singh. His best moment came in 2002 when he helped India save a Test in West Indies while batting with Rahul Dravid. Apart from picking more than 300 wickets in 92 matches in first-class cricket, he was once described as the Jason Gillespie of Indian domestic cricket due to his dogged style of batting.last_img read more


Darling of OTT platform Radhika Apte receives offers from various digital platformsDarling of OTT platform Radhika Apte receives offers from various digital platforms


first_imgRadhika AptePR HandoutRadhika Apte, known for her brave choice of films, has spread her charms with top-notch roles- be it films or OTT platforms. The actress who has been constantly seen on an OTT platform with her ‘omnipresence’ all across, is now receiving offers from many storytellers of different platforms.Radhika, who has carved a niche for herself in the acting space, has also aced the art of carrying herself in vogue. In a recent event, the actress looked drop dead gorgeous decked up in a powder shaded embellished Tulle slit gown.The indie star, who looks for a good story, has landed herself in the best space for her career.Radhika’s acting speaks louder than her words ever since she made her debut with a short film, Ahalya- a character nested in the hearts of the audiences and the filmmakers, alike.Radhika’s two movies Andhadhun and Padman are on the top rated Bollywood movies list and her “omnipresence” is much talked about with the screen presence she possesses.Radhika will be next seen in a film alongside Nawazuddin Siddiqui for which the actress has already finished the first schedule shoot in Lucknow. The pair was last seen sharing screen space for a web series.last_img read more


Punjab National Banks Q1 net profit falls 58 asset quality worsensPunjab National Banks Q1 net profit falls 58 asset quality worsens


first_imgPunjab National Bank’s (PNB) net profit fell by 58 percent in the June quarter (Q1) to Rs. 306 crore from Rs. 720 crore seen a year-ago. However, higher growth in its other income category and lower expenditure on tax arrested a much steeper fall predicted by analysts.The bank said in its financial statement on Thusday that Q1 saw its other income grow by 68.5 percent to Rs. 2,355 crore from Rs. 1,397 crore seen last fiscal. During the same period, tax expenditure decreased by 61.7 percent to Rs. 230 crore.The state-run bank’s net interest income declined 9.8 percent to Rs. 3,699 crore from a year earlier quarter. (Net interest is the interest earned on loans minus the interest given on deposits). Total interest earned during Q1 was Rs. 11,549 crore and interest expended was Rs. 7,875 crore.PNB’s total income for the quarter stood at Rs. 4,979 crore, up 3.70 percent from the corresponding quarter a year ago. It was Rs. 13,432 crore a year earlier and increased to Rs. 13,930 crore in Q1.The bank’s provisioning for bad loans witnessed a steep decline of 74 percent in a quarter-over-quarter period. In March quarter (Q4 of 2016) the provisioning was Rs. 10, 485 crore and declined to Rs. 2,738 crore in this quarter.The asset quality of the bank deteriorated higher than expected. Its gross non-performing assets (NPAs) increased to 13.75 percent in this quarter from 12.90 percent in March 2016. In the same period, net NPAs shot up to 9.16 percent from 8.61 percent.PNB’s MD and CEO Usha Ananthasubramanian said that fresh slippages during the June quarter amounted to Rs. 7,533 crore, compared to Rs. 23,545 crore seen in the previous period.The PSU bank’s capital adequacy ratio (CAR), which measures a bank’s capital as against its risks and liabilities, was 11.58 percent in this quarter as against 12.08 percent seen a year ago.PNB recently received Rs. 2,816 crore of liquidity infusion from the government. The capital infusion is part of the government’s Indradhanush road map that seeks to infuse Rs. 70,000 crore in four years to help state-run banks to brace up and also raise funds from the market to meet the Basel III requirements. This is also expected to help the credit growth in the economy. At 15:15 IST, shares of PNB were trading down 2.82 percent to Rs. 129 on the Bombay Stock Exchange.last_img read more


Shocking accusations against Kate Middletons behavior at baby Archies christeningShocking accusations against Kate Middletons behavior at baby Archies christening


first_imgKate MiddletonGetty imagesKate Middleton may have angered Meghan Markle’s fans with her behavior at baby Archie’s christening. Meghan’s fans have accused Kate, the Duchess of Cambridge, of trying to steal the thunder at Archie’s christening by her choice of earrings.We have to say that, earrings are quite an outrageous and nitpicky details to get angry about. Reportedly, the Duke and Duchess of Sussex christened their son in an intimate ceremony in the Private Chapel at Windsor Castle. After the ceremony, they released two official portraits of the big day to share with their fans. The focus of the images was the newly christened Royal. But it looks like some Meghan Markle fans had eyes only for the Duchess of Cambridge. Reportedly eagle-eyed social media users were quick to notice Kate was wearing Princess Diana’s Collingwood Pearl earrings, which she wore to Harry’s christening. Some fans were not impressed with this move, as they suggested Kate was trying to “upstage” Meghan. Meghan MarkleGetty ImagesFans took to Twitter to express their varying opinions on a pair of earrings. The opinions ranged from how Kate Middleton wanted to upstage Meghan, why else would she wear earrings that Princess Diana wore during Prince Harry’s christening. We have to say, that is some deeply researched observation. While another said that the earrings were a tacky move on Kate’s part, something for which Meghan would have been roasted. Meghan sure seems to have some supportive fans.Kate Middleton and Meghan Markle may not be on the best of terms but we thin these fans are reading a little too much into a pair of earrings.last_img read more


DJ Ramping gets candid about his musical journey and success mantraDJ Ramping gets candid about his musical journey and success mantra


first_imgDJ RampingPR HandoutFor DJ Ramping, music has been his first love since childhood. Born and brought up in Mumbai, he wanted to do something big in the music world since he was a kid. At the age of 12, DJ Ramping learned to play piano all by himself. He also learned to play guitar at the same time.His family has always been supportive of his music interest and when they saw him playing, they were impressed with his talent. During his teenage days, DJ Ramping started playing music with turntables and also acquired the best skills for the same. He then graduated with a Sound Engineering degree from a top University.Along with studies, he used to play at several small parties. Soon, his luck changed and he got invited to play at major events and he got to perform big gigs. DJ Ramping’s hard work, musical talent and passion helped him a lot in his career and he got to do opening DJing for Hardwell, Tiesto, David Guetta, Afrojack, Marshmello and many others.DJ Ramping’s work is also popular in the Bollywood and Punjabi music industry. He believes that if one is passionate enough and knows what the audience expects, they too can achieve their goals.last_img read more


ICICI Securities IPO undersubscribed Did high valuations deter wealthy investorsICICI Securities IPO undersubscribed Did high valuations deter wealthy investors


first_imgThe ICICI bank signboard is reflected in a puddle on a street in New Delhi in this file photo. REUTERS/Adnan AbidiICICI Securities, the broking unit of private-sector lender ICICI Bank, cut the size of its initial public offering (IPO) after the shares allocated for high net-worth and retail investors were undersubscribed.The Rs 4,017-crore IPO managed just 78 percent subscription on the last day of the issue Monday, according to National Stock Exchange.The non-anchor institutional book saw a subscription of 104 percent while the anchor book, about 60 percent of the shares set aside for large institutional investors, helped raise Rs 1,717 crore ahead of the IPO.Anchor investors are institutional investors that subscribe a day before an IPO is thrown open to the public and have to adhere to a 30-day lock-in.The portion of shares kept aside for retail investors and high net-worth individuals were subscribed 88 percent and 36 percent, respectively.In an IPO, the issuer is required to receive a minimum subscription of 90 percent of the offer.Going by the valuations, the IPO was ideal for investors with high-risk appetite and not for the faint-hearted.At the upper end of the price band, the IPO demanded valuation of 49 times fiscal 2017 earnings while the average price to earnings (P/E) multiple of its peers is 38.1, Bloomberg reported.Weakness in equity markets may have also deterred a few to subscribe to the IPO. ICICI Bank’s share issue came at a time when the benchmark Nifty Index lost 4 percent so far this year, with most of the losses coming after January.Meanwhile, the company’s high dependency on brokerage income was also a cause of worry for a few analysts.”Brokerage income depends on general economic conditions, macroeconomic and monetary policies, market conditions and fluctuations in interest rates, all of which are beyond company control. High level of competition and new technologies may adversely affect the present brokerage revenues,” according to a note by Canara Bank Securities dated March 21.Retail brokerage is the main revenue driver for ICICI Securities, contributing nearly 91 percent to the total brokerage revenue.last_img read more


Cabinet approves proposal to hike MSP of kharif cropsCabinet approves proposal to hike MSP of kharif crops


first_imgFarmers harvesting their paddyWork BankThe Narendra Modi government has cleared the deck for increasing the minimum support price (MSP) for paddy by a steep Rs 200 per quintal. This hike is the maximum increase in MSP for paddy crop.In 2012-2013, the UPA-II government had announced the previous highest rise in the paddy MSP with a hike of Rs. 170 a quintal. In the first four years of its government, the Narendra Modi government had raised the MSP between Rs 50-Rs 80 per quintal.The Bharatiya Janata Party (BJP) had come to power in 2014 with a promise of giving farmers a price of 1.5 times of the input cost. In this year’s budget, Finance Minister Arun Jaitley had also announced a corpus of Rs 1,500 crore for the MSP support to the farmers.The Modi government also plans to double the farmer’s income by 2022 and in the same direction, they have taken a series of measures.The approval for the hike of MSP was taken by the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister.The steepest ever increase in MSP is expected to benefit farmers in the driest region of the country. One-fourth area under such lands is heading towards polls this year.Farmer bodies lauded the announcement made by the government but they also argued that the increase in oil prices was not taken into consideration while finalizing the MSP prices.Stock markets reacted positively to the decision taken by the government to arrest the farm distress. Bombay Stock Exchange was trading lower in the initial part of the day. After the announcement market showed its strength to close over 200 points on Wednesday.Economic experts fear that the increase in MSP could be a possible hindrance to the government’s target of maintaining 3.5 percent fiscal deficit. The excess money supply in the market may also trigger inflation in the economy which could eventually lead to a further depreciation in the value of money.last_img read more


After making a profit Ola eyes IPOAfter making a profit Ola eyes IPO


first_imgBhavish Aggarwal, CEO and co-founder of Ola, gestures as he addresses the media during a news conference in Bengaluru, India, November 22, 2016.Reuters fileIndia’s answer to Uber has been losing money for years, but after burning millions of dollars ride-hailing giant Ola is finally able to mint a profit on every ride.The company announced that it has managed to beat Uber in the key area, where both services have been losing millions since they were founded. Co-founder and CEO Bhavish Aggarwal said that the company was operationally profitable and would soon become cash flow positive.Speaking in Bengaluru, Aggarwal said:Ola in India makes money on every ride. Our focus over the past couple of years has been to keep growing the market and our share in the market and build upon sustainable business.Being one of the most capital-intensive businesses, it was critical for Ola to hit this juncture soon since it was continuously raising capital from investors to grow its business in the country and finance operations in Australia, where it began operating in 2018.Aggarwal also said that the company would not look to go the traditional route and go public immediately. “The ambition for me and (co-founder) AnkitBhatihas always been to build a sustainable, long-term, independent business. And, in that direction, we are definitely going to IPO. Our goal is to aim for an IPOin the next three-four years,” he said.Despite the good news, all does not seem well with some of the company’s early investors, who are looking for exists both partial and full. As a result, Ola has been in talks with the Singaporean company Temasek Holdings to pick up shares. As per Mint, Temasek has reportedly bought shares worth around $30 million at a valuation of $2.5-3 billion from existing employees of Ola.last_img read more


Jennifer Aniston is casually dating againJennifer Aniston is casually dating again


first_imgJennifer Aniston went topless for a photoshootHarper’s BAZAAR(@harpersbazaarus/Instagram)Jennifer Aniston is currently enjoying single life after parting ways with her second husband Justin Theroux.Claims of her getting back together with her first husband Brad Pitt, who also ended his decade-long affair with Angelina Jolie were made earlier. But contrary to those, Jen and Brad are not dating. In fact, the Murder Mystery actress has reportedly started casually dating again.Jennifer Aniston and Justin Theroux announced the separation after two years of marriage last February. Following this, several reports claimed that she is having a secret child with Brad Pitt. As we reported in the past, those were nothing but fake news.But it looks like Jennifer is now getting the support of Lisa Kudrow and Courteney Cox when it comes to dating again.As per a report by Entertainment Tonight, after celebrating her 50th birthday earlier this year with Brad Pitt and several others, Jennifer has been spending most of her time with her former co-stars Lisa and Courteney, who have encouraged her to start dating again.”The support she has had from women in her life has truly helped her move on and upward and, with lots of encouragement from friends, she finally has started dating,” a source revealed to Entertainment Tonight.”Lisa [Kudrow] and Courteney [Cox] and Jen are really close and have encouraged her to date and get out there,” the source added. Brad Pitt and Jennifer AnistonGetty ImagesThe casual dating claims are not verified by Jen’s reps.The source went on to claim that Jennifer is also in touch with her former husband Brad Pitt. The former couple occasionally talks but nothing is going on between the two. According to the source, the duo has seen everything and they are mature enough to stay friends.At the same time, it is not yet revealed who Jennifer Aniston is casually dating at this moment.”I’m at a place now where I actually feel like I’ve grown up and entered into who I am creatively,” Jennifer revealed in past. “It’s taken me this long to know what I’m capable of. I didn’t always know. I think I used to put a lot of that in the hands of other people.”Meanwhile, Jennifer Aniston has several major projects lined up for 2019-20.last_img read more


Trouble continues at Air India salaries delayed for second month in rowTrouble continues at Air India salaries delayed for second month in row


first_imgA fuel tanker moves past Air India passenger jets parked at an airport in Kolkata May 6, 2012.Reuters fileIt seems the trouble for the Air India is far from over. In the latest headache, the “Maharaja” has defaulted on salary payments of its employees. Notably, this is the second month in a row that Air India has defaulted on the monthly remuneration to its employees amid a huge cash crunch. Last year was challenging for Air India as the global crude oil prices remained on the higher side till October.The effect was reflected in the company’s disbursal of salaries to its employees which had failed to pay on time to its strong 20,000 manpower for most of the months. Press Trust of India reported that as per the company’s salary cycle, its employees are supposed to get their salary on the last day of the month. One of the airline officials said that “Air India has not paid the December salary to its entire staff till today (Jan 7). Worst, there is no word on the date of payment.”Air India’s spokesperson told PTI that salary payment is under “process,” but did not offer a timeline for salary disbursement. Last month, Air India’s pilot union claimed that a large number of pilots were defaulting on their bank loans and other financial commitments due to the salary delays. The national carrier is operating, thanks to the Rs. 30,0231 crore bailout package promised by the previous UPA government which be transferred in parts by 2022. It would be sad if a private person buys the iconic Air India building: Nitin Gadkari In fact, the NDA government is leaving no stone unturned to pull out the beleaguered airline. The Centre has taken parliamentary approval of infusing Rs 2,345 crore into the cash strapped carrier and an additional Rs 1,300 crore for Air India Asset Holding, a special purpose vehicle (SPV). The center had gone to the extent of even selling the airline but found no taker due to its debt of whopping Rs.55,000-crore. As per the latest Public Enterprises Survey, Air India’s net was Rs 5,337 crore in FY18 as against the previous fiscal when it had a higher loss of Rs 6,281 crore. Close IBTimes VideoRelated VideosMore videos Play VideoPauseMute0:01/1:09Loaded: 0%0:01Progress: 0%Stream TypeLIVE-1:08?Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedSubtitlessubtitles settings, opens subtitles settings dialogsubtitles off, selectedAudio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window. COPY LINKAD Loading …last_img read more


Wipro CEO Abidali Neemuchwala gets 41 salary hike overtakes Infosys chief SalilWipro CEO Abidali Neemuchwala gets 41 salary hike overtakes Infosys chief Salil


first_imgThe new Wipro logoSpecial arrangementWipro CEO Abidali Neemuchwala saw his salary increase by 41 per cent for FY2019. The 51-year-old took home Rs 27 crore, which is Rs 8 crore more than his salary for FY2018. He is now one of the highest paid CEOs in the country.Neemuchwala received about Rs 6.9 crore as salary and allowances, Rs 6.17 crore as commission and variable pay, about Rs 13.85 crore as others and rest in long-term compensation.As per Wipro’s regulatory filings on Tuesday, Neemuchwala has an annual mode of variable pay which is not based on a quarterly performance scheme like other executives. The structure of payment and the hike of the executives depend on the company’s growth, amortisation of their Restricted Stock Units (RSUs) over time and also include performance parameters of the company based on the RSUs.Wipro has hiked the pay for Neemuchwala when it is already facing a downfall in the market due to losing acquisitions and mistakes in company restructuring; with a trust that he would be boosting the company growth. He has been trusted with the responsibility to bring in a speedy recovery and successive growth to the company.”We think we are moving in the right direction. Partly, it is about what we are doing and partly it is about the macro environment. I don’t want to put a time frame for it, but clearly, we are trending in the right direction,” Neemuchwala had told Economic Times in April.Most of the IT firms have been heavily investing in executives with a greater understanding of the technological shift to digital.Let’s see the comparative salary structures of the CEOs of Indian IT firms:TCS, which has shown constant growth in the IT sector, has been paying its CEO Rajesh Gopinathan about Rs 16 crore. TCS recently overtook IBM, which might bring in a better hike for the CEO.Salil Parekh, the CEO of Infosys, has a salary of about Rs 24.67 crore.last_img read more