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Brand

Volvo Cars to set up assembly unit in India

Buoyed by increasing sales in the competitive luxury car market, Swedish luxury car maker Volvo Cars will start a car assembly factory in India even as it gargets 25 per cent year-on-year sales growth in Asia’s third biggest economy.
“With sales volumes growing in India, it makes good business to set up a local assembly factory here,” Tom von Bonsdorff, managing director at Volvo Auto India told Financial Chronicle.

GM to stop selling cars in India but not pulling out

General Motors Co will stop selling cars in India from the end of this year, drawing a line under two decades of battling in one of the world's most competitive markets where it has less than a one percent share of passenger car sales.

The decision was announced as part of a series of restructuring actions from the Detroit automaker on Thursday, and marks a significant blow to India's strategy of encouraging domestic manufacturing.

Volvo says new generation of diesel engines could be the last

Swedish carmaker Volvo’s latest generation of diesel engines could be its last as the cost of reducing emissions of nitrogen oxide is becoming too much, Chief Executive Hakan Samuelsson was quoted as saying on Wednesday.
“From today’s perspective, we will not develop any more new generation diesel engines,” Samuelsson told German's Frankfurter Allgemeine Zeitung in an interview.
However, a Volvo Cars spokesman said on Wednesday Samuelsson had been discussing options rather than a firm plan to stop the further development of diesel engines.

Apple to start India production of iPhone this month

Apple Inc will begin the initial production of a “small number” of ‘iPhone SE’ in its Bangalore plant and will start shipping to domestic customers this month, the US tech giant said on Wednesday.
“We are beginning initial production of a small number of iPhone SE in Bangalore. IPhone SE is the most popular and powerful phone with a four-inch display in the world and we’ll begin shipping to domestic customers this month,” Apple said.
The Karnataka government had in February announced Apple Inc’s proposal to commence initial manufacturing operations in Bangalore.

Drugmakers need more time to meet international standards: industry group

India's big drugmakers will need at least five more years to improve their manufacturing standards and data reliability to a level demanded by international regulators, said a senior industry
official.
The lengthy timeline is a concern not only in India but around the world, as India's pharmaceutical firms supply a third of the drugs sold in the United States and a large percentage in other countries.

AI books bad; business as usual won’t help, says aviation minister

Civil Aviation Minister Ashok Gajapathi Raju has said Air India’s books are “bad”, and “business as usual” is not going to help it, but the Government wants the airline to survive. AI is grappling with “legacy” issues, he added.
The minister’s remarks came against the backdrop of Air India CMD Ashwani Lohani stating in a Facebook post earlier this week that the massive debt on Air India’s books is the root-cause of all its woes. Lohani termed the over Rs 48,000 crore debt as “insurmountable” and blamed the policies of the erstwhile UPA government for its precarious finances.

Truck, bus tyre imports touch new heights

India’s import of truck and bus tyres touched a record average of 1.2 lakh units a month in 2016-17. According to the Automotive Tyre Manufacturers Association (ATMA), this has happened mainly due to dumping by China.
The import of truck and bus radial (TBR) tyres grew 9 per cent last year, ATMA said in a statement. This ever-increasing trend has hurt the domestic industry, it added. “Imported tyres have come to account for 40 per cent of replacement demand for TBR tyre in India, ATMA’s director general Rajiv Budhraja said.

This $3,000 G-Shock Is Inspired bySamurai Armour

The Casio G-Shock is the most heavily armoured watch in the world, and for most of its career, irrespective of its incarnations, the armour it has worn has looked distinctively modern, whether in the original palette of blacks and dark greys, or in the neon-bright colors of more fashion-forward G-Shocks.

Snapdeal director steps down

Vani Kola, the representative of Kalaari Capital on Snapdeal board, has resigned ahead of the potential sale of the e-commerce firm to Flipkart.
Kola, who had been on the board of Jasper Infotech since 2009, resigned on May 2 from the post of director, as per regulatory filing with the ministry of corporate affairs.

Without citing any specific reasons, Kola said she was unable to continue to be a part of Snapdeal board and requested to be discharged of her duties with “immediate effect”.

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