Miscellany

Miscellany

Bonds rebound, call rates turn lower

Government bonds (G-Secs) rebounded on fresh buying support from banks and corporates.
While, the overnight call money rates turned lower at the money market due to lack of demand from borrowing banks amid ample liquidity in the banking system.
The 6.79 per cent government security maturing in 2027 regained to Rs 102.1450 from Rs 101.9750 yesterday, while its yield edged down to 6.49 per cent from 6.52 per cent.
The 6.97 per cent government security maturing in 2026 rose to Rs 102.2700 from Rs 102.20, while its yield inched down to 6.64 per cent from 6.65 per cent.

Online brands tap fledgling rural mkt

E-commerce brands cutting across apparels and medicines are now expanding services beyond tier II and tier III towns. For some of the leading players, the rural market, which is tier-III and beyond, has started contributing anything between 55 and 75 per cent of order volumes.

Fuel demand grows 5.4pc in May; petrol, diesel sales surge

India's oil demand bounced back in May, surging 5.4 per cent on the back of highest growth in petrol consumption in nine months and the fastest rise in diesel usage since November.
Fuel consumption in May stood at 17.79 million tons as compared to 16.87 million tons in the same month a year back, according to the Oil Ministry's Petroleum Planning and Analysis Cell.
Demand for diesel, which accounts for about 40 per cent of total sales, expanded 8 per cent to 7.51 million tons. Petrol consumption was up 15.3 per cent at 2.4 million tons, the fastest since August.

Apple Is Making Old iPhones New Again to Win India

Varuni T.V., a business professor in India, had her eye on a particular smartphone for months. She coveted its look, its camera, its user-friendly features. Finally, at the end of May, the 34-year-old—who, like many in southern India, uses initials instead of a surname—bought that dream device: a black iPhone 5S, a model Apple Inc. released in 2013. “It doesn’t bother me that it is several generations old,” says Varuni, who teaches at a college in Hospet, a mining town six hours north of Bangalore. “It’s a good feeling to own an Apple phone.”

Telecom industry leaders to meet Jaitley, Sinha on June 22

Top telecom leaders, including Sunil Bharti Mittal, Kumar Mangalam Birla and Anil Ambani, are expected to meet Finance Minister Arun Jaitley and Telecom Minister Manoj Sinha on June 22 amid mounting financial stress in the sector.
According to sources, the industry leaders will first discuss the current state of financial stress in the sector with Sinha and later in the day will call on Jaitley.

15 companies to pay higher dividend: Report

As many as 15 companies including Infosys, HDFC Bank and Tata Steel are likely to distribute a higher share of their profits as dividend to shareholders, according to proxy
advisory firm IiAS.
In a report released today, IiAS said that companies have been hoarding cash and this has plagued corporate India for long.
The findings come at a time when there are demands from certain quarters that companies should reward investors by way of higher dividends and buybacks.

Tech giants push into machine-learning diagnoses

Few US industries are growing as fast as health care, but the big public-cloud companies – Amazon.com, Microsoft, Google – have struggled to crack the $3.2 trillion market. Even as hospitals and insurers collect mountains of health data on individual Americans, most of their spending on extra data storage is for old-school systems on their own premises, according to researcher IDC.

Tobacco use in India down from 34.6% of adult population to 28.6%

The prevalence of tobacco use has gone down by six percentage points from 34.6 per cent of the country's adult population in 2009-10 to 28.6 per cent in 2016-17, a global survey has claimed.
The second Global Adult Tobacco Survey (GATS-2) report pegged that the number of tobacco users in India had gone down by 81 lakh.
Tobacco use among the young population (aged between 15 and 24 years) reduced from 18.4 per cent in GATS-1 to 12.4 per cent in GATS-2.

India, 67 nations sign pact to check tax evasion by MNCs

India and 67 countries have put in place an agreement to plug loopholes in existing laws that allowed companies to evade taxes by artificially shifting their place of business.
Finance Minister Arun Jaitley signed the multilateral convention, an outcome of the OECD/G20 Project to tackle base erosion and profit shifting. BEPS is resorted to by MNCs through tax planning strategies by exploiting gaps and mismatches in tax rules.

Apple makes iPhone screen fixes easier

Hey Siri, where can I get my cracked iPhone screen fixed? Apple Inc customers will soon have more choices as the company looks to reduce long wait times for iPhone repairs at its retail stores.
By the end of 2017, Apple will to put its proprietary machines for mending cracked iPhone glass in about 400 authorised third-party repair centers in 25 countries, company executives told Reuters.

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