Eid spends indicate better festive season ahead

Card transactions during the Eid weekend grew 46 per cent and those on specialty food items by 89 per cent, indicating a good festive season ahead.  Eid and Onam are indicators of the spending pattern for the festive season in the second half of the year. The data on card transactions during the Eid weekend shows a surge in spending. The Eid weekend recorded an average transaction growth of 46 per cent in volume terms and 35 per cent in value terms. Among different categories, the highest growth was recorded in specialty food items like baked products, sweets and confectionery.

Coffee sector seeks govt support for re-plantation

With a large majority of coffee plantations having turned old and unproductive, coffee sector is seeking a Colombian-model re-plantation support from the government.

Abysmally low yield, lower price realisation and high levels of debt have been restraining the sector from taking up re-plantation on its own.

Google tackles FB in India with hyper-local social network

A Mumbai train commuter who witnessed an accident earlier this month, turned to his smartphone to ask neighbours how to help a bleeding victim. Responses poured in instantaneously — take him to the station master at the next stop; ask the ticket collector for first aid; call 138 for emergency help and so on. Not long after, the commuter posted a happy ending: the injured party had received medical attention.

IndiGo CCO Kumar quits

Low-cost carrier IndiGo on Monday said its chief commercial officer (CCO) Sanjay Kumar has resigned and would be replaced by William Boulter.

Kumar, who has been associated with the no-frills carrier for the last 12 years, has put in his papers to pursue other career interests, the airline said in an official statement. His resignation would be effective from July 15. Boulter, currently the airline's chief strategy officer, would be taking over from him.

“The last 12 years at IndiGo has been the most satisfying and rewarding experience of my career,” Kumar said.

Saudi Arabia’s $90b reason to allow women to drive

Allowing Saudi women to drive could help the kingdom reap as much income as selling shares in Saudi Aramco. The move, which went into effect on Sunday, could add as much as $90 billion to economic output by 2030, with the benefits extending beyond that date, according to Bloomberg Economics. Selling as much as 5 per cent stake in Saudi Arabian Oil Co. -- at the most optimistic valuation -- could generate about $100 billion.

Everybody is united at Infosys: Nilekani

Infosys in the last six months has invested in understanding the best way for its brand to evolve and credibly assist its clients in their digital transformation, company chairman Nandan Nilekani said during the 37th Annual General Meeting (AGM) of the company.

Addressing shareholders on Saturday, Nilekani said, “Infosys would follow a path of nimble learning----seen among start-ups---and all its employees will be equipped with all the knowledge and intellectual assets required to guide and shape its clients’ pursuits for digital future.”

‘L’Oreal ads misleading’

The Advertising Standards Council of India found the claims made by some of the personal care products in their advertisements objectionable.

ASCI’s Consumer Complaints Council (CCC) upheld complaints against advertisements of L’Oreal India’s New Garnier Light Serum Complete Cream endorsed by actor Alia Bhatt. The advertisement’s claim, “With new Garnier Light Complete …de three tones lighter skin sirf ek week mein”, was not substantiated and was misleading by exaggeration, CCC found.

Core Energy signs security equipment deal with Russian firm

With an aim to market and promote technical security equipments (TSE) in India, the Rosatom State Atomic Energy Corporation of Russia’s (RSAECR) arm NIKIRET has signed an agreement with CORE Energy Systems. CORE Energy will buy TSE from RSAECR’s, better known for its perimeter detector and other security equipments, production outfit and promote it in Indian market as an integrated security systems and solutions.

Bosch to invest over 1,700 cr in India by 2020

Global technology and services major the Bosch Group will invest 220 Million Euros (over 1,736 crore) in India in next three years to expand its operations.

 “To meet the rising demand for tailored solutions in the Indian market and also to increase India’s contribution to Bosch’s global network, we will invest 220 million euros over the next three years,” group CEO Dr Volkmar Denner announced Wedn-esday.

A major portion of this fund will go into expanding Bosch’s smart campus in Adugodi, Bangalore and also towards modernising its manufacturing facilities.