"We're really happy with how that (manufacturing facility in India) is going. So we're bringing all our energies to bear there...and so I'm very, very bullish and very, very optimistic about India"
Apple CEO Tim Cook
Renault-Nissan are Now World No. 1
The alliance of Renault and Nissan has emerged as the number one car maker in the world in the first half of the year. It beat German group Volkswagen. The Renault-Nissan alliance sold 5,268,079 vehicles compared to 5,155,591 by Volkswagen. Toyota came third with 5,129,000.
Indigo to shed sale-and-leaseback model
IndiGo, the countrys most profitable airline, is planning to change the traditional sale-and-leaseback model for financing aircraft. It will now opt for outright purchases. The model is popular in the industry as it lowers the upfront equity that promoters have to put in an airline. The airline said this would reduce ownership costs.
BSE Gets New Chairman
The Bombay Stock Exchange (BSE) said the Securities and Exchange Board of India has approved the appointment of Dhirendra Swarup as its new chairman. Swarup, a public interest director at the BSE, will replace Sudhakar Rao.
RBI Cuts Repo Rate
The Reserve Bank of India's monetary policy committee has cut the repo rate by 25 basis points to 6 per cent in response to fall in inflation. However, more importantly, it kept the policy stance neutral, citing risks to inflation.
IIT vacancies at four-year high
Vacancies at IITs have touched a four-year high this admission year. A total of 121 seats were unfilled even after seven rounds of admission. The 23 IITs have 10,962 seats.