UBS chief executive Oswald Gruebel has resigned over a $2.3 billion rogue trading loss, the bank said on Saturday. The move ends days of speculation about whether Mr. Gruebel could retain his position following the latest scandal to hit Switzerland’s biggest bank. UBS Europe chief Sergio P. Ermotti will take over immediately as interim chief [...]
Cisco has revealed in a study that one in three college students and young professionals consider the Internet to be as important as fundamental human resources such as air, water, food and shelter. This study is based on the second annual Cisco Connected World Technology Report that examines the relationship between human behaviour, the Internet [...]
Top corporates and banks, including Bharti Airtel, Maruti Suzuki, SAIL and SBI, have paid lower advance taxes during the July-September quarter, reflecting the impact of slowdown. Slowdown impact The other large companies, which have paid lower taxes during the second quarter, include Indian Oil, Bharat Petroleum, National Aluminium, Hyundai Motors, Rashtriya Ispat Nigam and Bosch. [...]
BSH Bosch and Siemens Home Appliances Group (BSH), which is the largest manufacturer of home appliances in Europe and one of the leading companies in the sector worldwide, on Wednesday announced the launch of Bosch Home Appliances in India through its 100 per cent subsidiary BSH Home Appliances Pvt. Ltd. This is marked by the [...]
Air India on Wednesday announced the extension of its short-term promotion scheme, Silver and Platinum Pass, aimed at providing air travel at competitive and affordable rates. The Silver and Platinum Pass being offered in two variants for unlimited travel in the economy and executive class on the domestic sectors of the national carrier will now [...]
Union Coal Minister, Sriprakash Jaiswal on Wednesday said the Coal ministry had given in-principle approval for allotment of five coal blocks to four NTPC thermal power plants in Uttar Pradesh, Karnataka, Orissa and Madhya Pradesh. “We have in principle approved to allocate five coal blocks to NTPC. The identification of the coal blocks is still [...]
Bharat Sanchar Nigam Ltd. (BSNL) has reported a loss of around Rs.6,000 crore in 2010-11, which is up three times compared to Rs.1,822 crore reported in 2009-10, while its total revenues also declined to Rs.28,876 crore, a dip of around 10 per cent from Rs.32,072 crore. According to unaudited results of BSNL, the loss for [...]
HALCON, a joint venture working group between Hindustan Aeronautics Ltd. (HAL) and Container Corporation of India (Concor) along with terminal operator Clarion Solutions, on Tuesday announced the commencement of air cargo services at the Ojhar airport in Nashik in Maharashtra. The airport is owned by HAL, which has invested around Rs.70 crore in developing the [...]
The Dubai-based Varkey group’s Gems Education, with over five-decade experience in education, will join India’s education solutions provider Everonn Education as strategic investor. Headed by NRI entrepreneur Sunny Varkey, Gems Education will join Everonn with the latter’s board approving a preferential allotment of 12 per cent stake. The directors of Everonn Education has approved the [...]
Finland Government plans to open an innovation network centre in New Delhi next week. It will be the fifth centre for Finland Government across the globe. The other centres are located in U.S., Russia, China and Finland. The India centre will generate ideas and innovations across all fields and mainly in the area of education, [...]