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Company in India

  • Indian film star Sushmita Sen played a part in the launch event for Huawei’s P9 smartphone in New Delhi last month

    CHINA, 2016/09/29 The world’s third-largest smartphone maker by shipments—behind Samsung Electronics Co. and Apple Inc.—said Friday that it will work with the Indian arm of contract manufacturer Flex International Ltd. to assemble smartphones for the local market starting next month. Huawei Technologies Co. is making a renewed push into India’s fast-growing smartphone market, manufacturing locally and broadening its distribution network. By the end of next year, the plant in Chennai will have the capacity to make 3 million phones annually, Huawei said. The Chinese technology giant is also expanding its distribution network in India by teaming up with more than 50,000 retail outlets by the end of this year.
  • Firm realigns strategy after spare parts business earned Rs1,800 crore in revenues in 2014-15

    INDIA, 2015/05/07 India’s major two-wheeler manufacturer, aims to generate as much as Rs.6,000 crore, or about 10% of its annual revenue, through sales of auto parts by 2020, three people familiar with the development said, requesting anonymity. The company started selling motorcycle components in 2013. It later announced a plan to set up a world parts centre (GPC) in Rajasthan with an investment of Rs.1,050 crore. “The business has received tremendous response. In 2014-15, revenue from the parts business reached Rs.1,800 crore,” said a person familiar with the development, who declined to be named. “We aim to grow it to Rs.6,000 crore as we grow our sales and expand to various markets across the globe.”
  • China and India get iPhone 6 models

    CHINA, 2014/10/18 iPhone fever hit China afresh as the 6 and 6 Plus handsets officially went on sale there on Friday. Software security concerns raised by government regulators had delayed their launch in the world’s major smartphone market. Apple won approval to sell the phones next it reassured Beijing they do not have security “backdoors” through which US intelligence agencies could access users’ data.
  • Singapore Airlines has chosen Airbus’ A320 to launch its new Indian joint venture with Tata Sons,

    INDIA, 2014/01/10 Singapore Airlines has chosen Airbus’ A320 to launch its new Indian joint venture with Tata Sons, scoring a victory over rival Boeing as the airline market Asia’s third biggest economy shows signs of a revival. Sources familiar with the decision said a project team picked the European plane in preference to Boeing’s 737 — the aircraft ordered by low-cost operator SpiceJet to expand its fleet in a transaction reported by Reuters on Tuesday. The demise of Kingfisher Airlines in 2012 marked an end to the bitter competition that led to low ticket prices for Indian consumers and high levels of losses for its airlines.
  • Official: Kingfisher Airlines failed to pay taxes amounting to Rs 3,500,000,000

    INDIA, 2013/12/16 The Gain Tax department has attached all assets of cash-strapped Kingfisher Airlines for failing to remit taxes amounting to Rs 3,500,000,000, a senior official said on Sunday. "We have attached all assets of Kingfisher Airlines and are in the process of recovering its dues by sale and attachment of properties of the defaulter company," IT official Lokesha said in a statement here.
  • Finland keen to invest despite Nokia’s tax issues

    INDIA, 2013/10/19 Despite Nokia’s woes with Indian tax authorities, Finland is keen to invest in India as it finds tremendous business opportunities here. However, Finland has taken up Nokia’s tax dispute with the Centre, and hopes to resolve it at the earliest. “I am hopeful that it (Nokia’s tax dispute) will be resolved any minute at this time. Of course it is part and parcel of the investment climate, and international investors will not come down if they feel that a particular company like Nokia or Vodafone has not been rightly treated. Again there will be quick thumbs down, and it will lead to loss of foreign direct investment (FDI),” Alexander Stubb, Minister for European Affairs and Foreign Trade, Government of Finland, told The Hindu.
  • Indian carrier SpiceJet

    INDIA, 2013/07/20 Indian carrier SpiceJet saw its shares surge 8.1 % this week, despite the airline denying a news statement from vccircle.com that Gulf carrier Kuwait Airways was looking to pick up a nearly 25 % stake in the budget airline. "The news statement suggesting that a stake sale in SpiceJet is being considered to induct Kuwait Airways as a strategic partner is totally untrue and without any substance," SpiceJet said in an emailed statement. SpiceJet had said in January it received some interest from potential investors, but it would be premature to discuss the possibility of any concrete investments, Reuters reported.
  • Indian carrier SpiceJet

    INDIA, 2013/07/20 Indian carrier SpiceJet saw its shares surge 8.1 % this week, despite the airline denying a news statement from vccircle.com that Gulf carrier Kuwait Airways was looking to pick up a nearly 25 % stake in the budget airline. "The news statement suggesting that a stake sale in SpiceJet is being considered to induct Kuwait Airways as a strategic partner is totally untrue and without any substance," SpiceJet said in an emailed statement. SpiceJet had said in January it received some interest from potential investors, but it would be premature to discuss the possibility of any concrete investments, Reuters reported.
  • Indian automotive manufacturer Tata Motors

    INDIA, 2013/07/03 Indian automotive manufacturer Tata Motors will launch six vehicle models to the Indonesian market starting in September. “The six models will be commercial and passenger vehicles. Other models will be introduced in the next phase,” Tata Motors Indonesia CEO Biswadev Sengupta said as quoted by Antara.
  • Ecobank’s CEO Thierry Tanoh

    INDIA, 2013/04/10 Pan-African lender Ecobank Transnational has signed a memorandum of considerate (MoU) to partner with India’s second-major bank, ICICI, to make itself a hub for Indian investment into Africa, Ecobank’s CEO said on Monday. CEO Thierry Tanoh told the Reuters Africa Investment Summit that a similar alliance with South Africa’s Nedbank had helped it gain better access to markets in southern Africa.