Asian Lite News Archive

Category: Industry

  • Indian Retailers Expect Dull Festive Sales: Report

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    Amid a surge in online shopping due to COVID-19, about 60 per cent retail organisations in India have seen their forecasts for the festive season go down 25 per cent or more compared to last year, says a new survey. Given that festival season sales account for a significant portion of sales book each year,…

  • SP group to quit as TATA’s largest minority investor

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    The largest minority shareholder in the Tata Group, Shapoorji Pallonji Group said before the Supreme Court that a separation from the Tatas has become necessary. The SP Group stated before the Supreme Court that a separation from the Tata Group is necessary due to the potential impact this continuing litigation could have on livelihoods and…

  • Osborne to scrap inheritance tax for homes below £1million

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    The end of inheritance tax on family homes worth up to £1m will be announced by Chancellor George Osborne. He is expected to tell MPs  that the threshold at which the tax is levied will rise for couples from £650,000 after April 2017. Writing in The Times, PM David Cameron and Mr Osborne said those…

  • Modular buildings the solution to the UK’s housing crisis

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    Modular off-site building could be the key to solving the UK’s broken housing market, according to a new report by the Institution of Mechanical Engineers. The UK house building  manufacturing affordable quality homesreport is calling on Government to provide more incentives for the off-site construction of homes. The report also recommends that the Government reverse…

  • British manufacturing to remain slow: HSBC

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    Future manufacturing may remain sluggish in India due to declining output and new order flow, including from overseas and fall in order-to-inventory ratio while robust capital goods growth is a glimmer of hope, says HSBC Purchasing Manufacturers Index (PMI) released….reports Asian Lite News. India manufacturing PMI fell to 51.3 in June from May’s 52.6 as…

  • Birmingham airport urges Govt caution on Heathrow

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    Paul Kehoe, CEO of Birmingham Airport, has today urged the Government to take a cautious response to the Airports Commission’s recommendations, as regional airports like Birmingham Airport continue to thrive….reports Asian Lite News. The Airports Commission, led by Chairperson Sir Howard Davies, has spent the past three years looking into the future of UK aviation…

  • Mukesh Ambani commits millions for ‘Digital India’

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    Reliance Industries Chairman Mukesh Ambani committed an investment of Rs.250,000 crore on “Digital India” and said he expected the group’s initiatives under it will create over 500,000 direct and indirect jobs….reports Asian Lite News. “I believe digital India will be a huge success because of the adoption of technology by the youth of India,” Ambani…

  • Modi to launch Digital India Week

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    Prime Minister Narendra Modi will launch the Digital India Week on July 1 here aiming to encourage involvement and creating awareness about the field, Communications and IT Minister Ravi Shankar Prasad said . “Many dignitaries will join us on that with their investment plans for the sector. We expect investments of billions of dollars from…

  • Engineers call for review on cost increase in Network Rail

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    Philippa Oldham, Head of Transport at the Institution of Mechanical Engineers, said in response to the Network Rail upgrade delays announced…..reports Asian Lite news. “It is disappointing that so much of the vital work needed to upgrade the UK rail network is being delayed. “Passenger numbers continue to rise and we need to address the…

  • Ramadan boosts Britain’s big supermarkets sale

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    With an uplift of £100million as Muslims prepare ‘iftaar’ Britain’s biggest supermarkets have been boosted with a £100million sales thanks to Ramadan…reports Asian Lite. Three million Muslims in the UK will break their fast with lavish sundown meals during the Islamic holy month which ends with the Eid celebration on July 18 this year. According…

  • White leadership on Board rises, says research

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    A groundbreaking study by Green Park of the top 10,000 executives in Britain’s most important firms reveals a deep “diversity deficit” that could put UK companies at a serious disadvantage in both domestic and global markets….reports Asian Lite.   It is reported that the number of board members from ethnic minorities is falling despite a drive to…

  • Small firms back PM’s bid to reform EU

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    Britain’s biggest business organisations will today urge David Cameron to secure EU reform. Mr Cameron rejected Tory calls to publish his demands for reform as he prepares to open negotiations with European leaders this week. And the British Chambers of Commerce (BCC) will today come out in support of the Prime Minister’s strategy reports Daily…

  • Facebook worth more than Walmart!

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    Believe it or not, Facebook is now worth more than the world’s largest retailer, Walmart. In just three years as a public company, Facebook has pipped Walmart in terms of net worth. Over the last year, Facebook’s stock has jumped roughly 30 percent and the climb has added more than $65 billion to its market…

  • Infosys investors up in arms

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     Many investors of global software major Infosys Ltd were up in arms against its board at the 34th annual general meeting here for various reasons. A woman investor from Mumbai grabbed the mike and shouted through vide-link that the board did not give female shareholders an opportunity to speak with its members at the AGM.…

  • Murthy rules out Infosys return

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    Infosys co-founder N.R. Narayana Murthy ruled out returning to the company as he did in June 2013, three years after retiring in August 2011….reports Asian Lite News. “There is no need for anybody to get get back from outside to lead Infosys, as a very good set of people, headed by chief executive Vishal Sikka,…

  • Europe’s Largest SA Film Event returns!

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    This year The Bagri Foundation London Indian Film Festival to be held between July 16-23 will kick off with Sundance winner Umrika and the hard-hitting cricket documentary Death of a Gentleman to close festival…reports Asian Lite. The London Indian Film Festival (LIFF) has unveiled yet another promising line-up for the 2015 edition of the hugely…

  • Spain offers some smart ideas for India

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      By Rashmi Saksena   Prime Minister Narendra Modi´s headline-grabbing promise to build smart cities in India has attracted wide attention of experts in Spain’s principal city which hosts the International Smart City Expo every year. Barcelona has the distinction of being one of the world’s top 10 smart cities. The vast potential and unique challenges…

  • BRICS bank not to replace global institutions: Putin

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    By Hardev Sanotra  Russian President Vladimir Putin says that the BRICS Bank set up by five countries with a capital of $100 billion will not challenge the existing multilateral institutions…..reports Asian Lite News. Putin, who was interacting with a dozen visiting wire service reporters said, the intention behind the bank and the reserve currency pool…

  • Russian seeks tie-up on Indian high-speed rail

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    By Hardev Sanotra  Russian officials are in talks with their Indian counterparts to help the country set up high-speed railways projects, a top railway official said here. Vladimir Yakunin, president of Russian Railways, said they were keen to tie up with Indian Railways for the planned high-speed rail links, as the country has expertise in…

  • Ofcom will review Royal Mail ‘monopoly’

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    The Royal Mail is set for Ofcom investigation over claims of monopoly on national post service after Whistl withdraws from deliveries …reports Asian Lite News.    The withdrawal of Royal Mail’s only national rival, Whistl, has prompted an Ofcom review into whether the 499-year-old postal service has a monopoly on the national post market. Media…

  • Micromax launches world’s ‘slimmest’ phone

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    Micromax, a Indian-bred phone manufacturer, launched its flagship smartphone Canvas Sliver 5 here. The company says the device is the slimmest and lightest in the world. The 97 gram device will ship with a 5.1 mm thick body. The device, which has LTE support and a Sony Exmos CMOS chip-attached camera with Blue Filter, will…

  • Motor insurance premiums to increase

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    Premiums are likely to start rising over the next 12 months, according to Deloitte, the business advisory firm…reports Asian Lite, leading newspaper among British Asians. Average premiums fell by 12% between 2012 and 2014 but the trend is likely to reverse as insurers made only modest underwriting profits last year. They paid out £99 in…

  • Silent revolution of Indian Railways

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    Amit Kapoor  The railways sector has seen some activity in the past few months. Not only are operational changes being brought about but a long-term strategic view seems to be in sight. The operation changes in ‘tatkal’ remuneration in respect to cancellation as well as the choice to upgrade to a domestic airline in case…

  • Kerala IT exports touch Rs.10,000 crore

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    With Information Technology exports from Kerala for the 2014-15 fiscal touching Rs.10,000 crore, time was ripe for ‘ghar wapsi’ (home return) of Kerala IT professionals working outside the state and the country, an official said…. reports Asian Lite News. IT exports from the southern Indian state grew from Rs.7,000 crore in 2013-14 to touch the…

  • Spices exports from India touch $2.43bn

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    Despite having stiff global competition, Indian spices maintained their robust demand in the international market with exports touching a whopping Rs.14,899 crore in 2014-15 as compared to Rs.13,735 crore a year ago…. reports Asian Lite News. Chilli, mint and mint products, cumin, spice oils and oleoresins, pepper, turmeric, coriander, small cardamom, curry powder/paste and fenugreek…

  • Ambani seeks early revision of gas prices

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    Reliance Industries sought an early revision of gas prices and urged the government to quickly resolve what it termed as “legacy issues” over its production-sharing contracts for discovered hydrocarbon….reports Asian Lite News. Pointing out that Reliance Industries was a pioneer in deep-water production of oil and gas, chairman Mukesh Ambani told shareholders here that the…

  • Mad rush to deposit in UK based Indian banks

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    UK based Indian banks have gatecrashed the best buy savings tables in recent months, with three major subcontinental banks dominating the top spots. Three Indian banks are topping the best savings rates tables With savings rates plunging to depressing lows – the average instant access account pays just 0.77% – foreign banks have grabbed the…

  • British punk legends on Virgin Money credit cards

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    British punk legends Sex Pistols will feature on new credit cards from financial services Virgin Money that is backed by British billionaire Richard Branson, whose Virgin Records signed them 38 years ago, the company said….. reports Asian Lite News The group, which revolutionised Britain’s music scene in the 1970s with their provocative behaviour and anti-establishment…

  • HSBC to cut 8000 jobs in UK

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    HSBC, is planning to cut 8,000 jobs in the UK as it tries to reduce costs and simplify its business. The bank has 48,000 UK workers and will make cuts in both its retail and investment banking operations reports BBC. A total of 25,000 jobs could be axed globally, meaning close to 10% of HSBC’s…

  • Tata steel workers in Britain to go on strike

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    Tata Steel workers across the Britain will go on strike later this month in a row over British Steel pension scheme, British trade unions have announced. The action would take place on June 22, while a ban on overtime and work-to-rule will be carried out next week, BBC reported. The dispute was over proposed changes…

  • Yahoo to shut down Maps

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    US internet giant Yahoo has announced that it will shut down Yahoo Maps, eight years after it was launched, and other services in different countries, Efe news agency reported. Yahoo Maps will shut down around the end of June. However, it will continue to be used by the company’s search engine and photo-sharing website Flickr,…

  • Mitsubishi motors UK sales double

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    Sales of Mitsubishi vehicles in the UK have more than doubled compared to the same period last year, according to SMMT figures released today. For the calendar year through May 2015, Mitsubishi Motors (UK) passenger car sales are up 133 per cent, against an overall increase in the market of 5.7 per cent. The company…

  • The Royal Mint unveils Signature Gold

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      The Royal Mint  launched Signature Gold, a brand new addition to its bullion trading service, reports Asian Lite. Opening up the world of gold trading to everybody, Signature Gold guarantees customers full ownership over their gold, and the entry-level is just £20. Signature Gold allows customers to purchase and own a fractional amount of…

  • Meet India’s Battery King

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      Amara Raja Group basedin Hyderabad seeks to dominate battery business in Indian Ocean Rim…reports Sharon Thambala for Asian Lite, Best newspaper for British Asians  Becoming the No.1 battery player across the Indian Ocean Rim countries is the future goal of Amara Raja Group, its chairman Ramachandra Naidu Galla said. “Our target is Indian Ocean Rim,…

  • US requests Cuba to open its markets

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    The US Undersecretary of Commerce for International Trade Stefan Selig has invited Cuba to open its market and make reforms as part of the process of normalisation with the US at the inauguration of a conference on the island’s economic future. Selig said if Cuba opens its economy and begins the necessary reforms it will…

  • RBI marginally lowers lending rate

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     Giving in to overwhelming demands for an easing of the monetary policy, the Reserve Bank of India lowered its short-term lending rate by 25 basis points in a move that could potentially reduce the cost of borrowings on personal and corporate loans. In his bi-monthly monetary policy review for the current fiscal year at the…

  • Uncertainty clouds RBI rate hikes

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    Biswajit Choudhury writes in UK’s largest Asian newspaper Asian Lite about the uncertainty of rate hike by RBI As the Reserve Bank of India (RBI) prepares for its bi-monthly monetary policy update here, uncertainty remains over Governor Raghuram Rajan cutting interest rates, despite requests to do so from stakeholders — right from the government to…

  • Housing registrations are rising

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    A number of new homes registered across the UK continue to outperform 2014 levels, reports Asian Lite best newspaper for British Asian families. According to NHBC report, for the rolling quarter (February – April), registrations increased by 20% compared to the same period last year (41,307 in 2015; 34,451 in 2014). This follows the strong…

  • India can’t do without coal

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    Amit Bhandari writes in Asian Lite, Britain’s leading Asian newspaper on India’s addiction with coal.  Coal generates over 75 percent of India’s electricity and is among the cheapest energy sources available. Its main advantage over other feasible alternatives is that it is largely immune to interference from nature — quakes, floods, droughts-economic vagaries and artificial accidents. India…

  • New housing registrations rise: NHBC

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    The number of new homes registered across the UK continues to outperform 2014 levels, according to NHBC. For the rolling quarter (February – April), registrations increased by 20% compared to the same period last year (41,307 in 2015; 34,451 in 2014). This follows the strong Q1 growth reported by NHBC earlier this month. The private…

  • Indian students bring $3.3 billion to the US economy

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    Last year alone Indian students in the US contributed $3.3 billion to the US economy. US Ambassador Richard R. Verma said Indian students played an important role in helping build closer ties between the two countries. “You are doing this for maybe your individual career pursuits, but I also want to tell you how important…

  • India needs explore deeper into Latin America

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    By Deepak Bhojwani  Prime Minister Narendra Modi has set a crackling diplomatic pace for his government. Barely two months after being sworn in, he was in Brazil in July 2014, where he met 12 Latin American leaders on the sidelines of the BRICS Summit. This triggered a more active engagement with a region benignly ignored…

  • Ryanair profits soar by 66%

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    Ryanair has reported a 66% hike in net profits in the last year. It saw its profits after tax increase by two-thirds from €523m (£370m) to  €867m (£613.6m)  in the 12 months to March. The number of customers also rose by 11% over the period from 81.7 million to 90.6 million, which generated a 12% increase in revenue. Meanwhile,…

  • The feel good factor of the Indian economy

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     Biswajit Choudhury and Aparajita Gupta writes on the Indian economy in Asian Lite the leading asian newspaper in UK Recent reviews of global institutions and the prevailing investor confidence suggest a striking change in the perception about the Indian economy cover the past year. Yet, some crucial agenda remains for Prime Minister Narendra Modi’s government as…

  • Delhi the mall capital of India

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    By Aparajita Gupta With 95 operational malls in an around Delhi, the National Capital Region has emerged as the mall capital of India but only 12 of them are successful as people used its air-conditioned confines not just for shopping but often only to escape the heat, says a study. There are around 255 operational…

  • India create a million jobs in green energy

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    By Chaitanya Mallapur   As India, the world’s third-largest emitter of greenhouse gases but 127th in terms of per capita emissions, ponders over an energy-balanced growth, jobs creation and environment protection in the future, there is encouraging news. The renewable energy sector, a particular focus of attention for Prime Minister Narendra Modi, has generated 400,000 jobs…

  • Britain should remain in EU: Osborne

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    Britain’s Chancellor of the Exchequer George Osborne said in a keynote speech that he wants Britain to remain in the European Union (EU) — but doesn’t want to see the country run by Europe. Speaking at the 50th anniversary annual dinner of Britain’s leading business organisation, the CBI, Osborne fired the first salvo in what…

  • Asia largest investor destination: Unctad

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    Asia has become, for the first time, the world’s largest investor region with $440 billion invested in 2014, followed by North America ($390 billion) and Europe ($286 billion), according to a report releasedby the UN Conference on Trade and Development (Unctad). The global investment trend monitor published by Unctad showed that among the 20 largest…

  • UK inflation turns negative

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    The measure of UK inflation turned negative in April for the first time, with the rate falling to -0.1%. It is the first time Consumer Price Index (CPI) inflation has turned negative since 1960, based on comparable historic estimates, the Office for National Statistics said. The biggest contribution to the fall came from a drop in…

  • EU membership is vital to national interest – CBI

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    Businesses should speak in favour of remaining in a reformed European Union, the president of the Confederation of British Industry says. Sir Mike Rake will argue at the group’s annual dinner that firms “must be crystal clear that membership is in our national interest” reported BBC. There are “no credible alternatives” to EU membership, Sir Mike…