Around the Globe

Around the Globe

Tata Steel aims 20% revenue from service, solutions biz

Steel major Tata Steel is betting big on services and solutions business and aiming around 20 per cent of company's revenue from it in next few years.

"We are optimistic and aiming at 20 per cent of revenue from services and solutions. Currently, we are at around Rs 700 crore. We are gradually expanding solution products targeting end-users," Tata Steel sources told PTI.

The company is already in several solution products based on steel including doors, windows, modular housing, toilets and water ATMs etc.

Merc launches A & B Class Night Editions

Leading luxury car maker Mercedes-Benz kicked off the New Year by further strengthening its new generation cars portfolio by rolling out today the Night Editions of its popular A-Class and B-Class compacts.

While the petrol variants of both the cars are mounted on a 1.6-litre engine, the diesel variants come with a 2-litre engine.

Govt to 'carefully examine' CM panel's BCTT recommendations

Government will "carefully examine" recommendations of the high-powered chief ministers' panel for levying a Banking Cash Transaction Tax (BCTT) on cash deals of Rs 50,000 and above before taking a final view on it, the finance ministry said today.

Andhra Pradesh Chief Minister Chandrababu Naidu-headed committee of state chief ministers on digitisation submitted its interim report to Prime Minister Narendra Modi yesterday.

Facebook CEO Zuckerberg reconsiders process to get land

The chief executive officer of Facebook has said he is reconsidering trying to gain isolated pockets of land on his sprawling Hawaii estate through a law unique to the islands.

Mark Zuckerberg said in a statement that they were "reconsidering the quiet title process and discussing how to move forward."

He says they want to make sure they are following a process that protects the interests of property owners and respects the traditions of native Hawaiians. The story was first reported by the Honolulu Star-Advertiser.

CESC share price jumps amid firm division talk

Share prices of CESC, the power flagship of the Rs 17,000 crore RP Sanjiv Goenka Group, on Tuesday hit a new 52-week high, touching 735.60 in the wake of strong market rumours that the group might split its distribution and generation business into two separate companies. Market speculation suggested that the group would break up the two verticals and form two separate entities to unlock the value of the highly profitable distribution business.

Pension plan for seniors with 8% return

With interest rates headed downwards due to increased liquidity in the banking system post demonetisation, the government has decided to shield senior citizens who depend on interest income to sustain their lives.

Document-shredding by Indian drug firms raises FDA eyebrows

One Indian pharmaceutical firm’s nighttime document-shredding and potential manufacturing lapses at two others since December are reigniting concerns that, despite recent efforts, the country’s generic-drug industry still has a way to go to gain the trust of US regulators.

BJP’s divided house in Goa seeks Parrikar as saviour

Manohar Parrikar might have been handling the high profile defence portfolio, but he hasn’t lost sight of his home politics. He is often criticised for spending more time in Goa, than in Delhi. But the BJP leadership is unfazed and PM Narendra Modi has publicly hailed Parrikar for his leadership skills.

Naidu-led CM panel moots tax on Rs 50,000 cash withdrawal

A high-level panel on Tuesday recommended a slew of measures to promote digital payments in its interim report, including levy of tax on withdrawal of Rs 50,000 and above from banks.
The committee of chief ministers on digital payments, led by Andhra Pradesh’s Chandrababu Naidu, has also recommended abolition of merchant discount rate (MDR) to make digital payments cheaper than cash.

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