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”.

Snapdeal staff may hit Rs193 crore jackpot

A big windfall is awaiting Snapdeal employees. If the e-commerce major’s merger with bigger rival Flipkart goes as per the script, then 1,500-2,000 staffers of Snapdeal will have a Rs 193 crore bonanza. Even some former employees could benefit.
Last week, Snapdeal investors, including Nexus Venture Partners, have come an understanding to sign a non-binding agreement with Flipkart for merger. As per the agreement reached, Snapdeal promoters Kunal Bahl and Rohit Bansal would take home $30 million (about Rs 193 crore) each in cash in lieu of their entire 6.5 per cent stake.

ISUZU unveils new SUV MU-X

Isuzu Motors India on Thursday launched its much-awaited seven seater SUV – the mu-X. The two-wheel-drive variant of the SUV is priced at Rs 23.99 lakh, while the four-wheel drive trim is tagged at Rs 25.99 lakh (all prices ex-showroom Delhi).
The new MU-X is a family SUV, which will target buyers who seek style, power and a dominating road presence along with space and comfort.

TVS Motor to strengthen presence in Central America

TVS Motor Company, a leading two and three-wheeler manufacturer, on Thursday announced its alliance with MASESA, a Gautemala-based company and a leader in the commercialisation of motorcycles and Tuk Tuks in the Central American region. The alliance is in line with TVS’ plan to expand and strengthen its presence in Central America, LATAM, South East Asia and Middle East.
As per the agreement, MASESA will establish a chain of 500 – 600 exclusive TVS outlets over the next 12 months in Gautemala, El Salvador, Honduras, Nicaragua and Costa Rica.

Piaggio launches Elegante 150 cc scooter

Italian two-wheeler maker Piaggio, manufacturer of Vespa scooters, on Thursday expanded its range by launching its Elegante 150 cc special edition scooter in the country to boost sales.
With a price band of Rs 95,077 at showroom in Pune, the new scooter adds a touch of style and elegance to the premium scooter range.
Inspired by the Italian craftsmanship, the design aesthetics of the bike is set to appeal to the Vespa enthusiasts. It adds to the already existing Vespa portfolio of SXL, VXL.

Flipkart-Snapdeal deal done, stage now set for bigger war

The decks have finally been cleared for the sale of e-commerce major Snapdeal to its bigger rival Flipkart. Japan’s Softabank, the biggest investor in Snapdeal, has successfully brokered an agreement with Nexus Venture Partners, which was earlier resisting the sale plan. The merger between the two biggies will open a new chapter in the dog-eat-dog e-commerce space, which is faced with severe fund crunch. The development also sets the battlefield ready for the two biggest players in the space —Flipkart and the deep-pocketed Amazon.

LGBT to get due representation at Tata Steel

Tata Steel is in the process of drafting a policy paper and a roadmap to have 25 per cent of its workforce from diverse groups by 2020. Of this, 20 per cent will be women and the rest from the LGBT (lesbian, gay, bisexual, and transgender) community.