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News Podcast: Maruti to move factory out of Gurgaon, says R C Bhargava

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RBI pulls back rupee from the brink by selling dollars

The rupee slumped to a historic low of 72.91 in morning trade on Wednesday forcing the RBI to sell US dollars in the market through public sector banks to bring the Indian currency back from the brink. The government also issued a statement that the rupee would not be allowed to crash to an unreasonable level which further bolstered sentiments and enabled the rupee to climb back to 72.18 vis-a-vis the US dollar at the end of the day to settle at 51 paise higher than the previous day's close.
 
Govt approves procurement policy worth Rs 15,000 crore to ensure remunerative prices to farmers

Ahead of the 2019 polls, the government Wednesday announced a Rs 15,053-crore procurement policy allowing states to choose a compensation scheme and rope in private agencies for procurement to ensure a profitable price to farmers. The new umbrella policy 'Pradhan Mantri Annadata Aay SanraksHan Abhiyan' (PM-AASHA) was approved in the Cabinet meeting, headed by Prime Minister Narendra Modi, held here.

Apple iphones get larger and pricier, watch technology turns health conscious

Apple has launched three new Apple iPhones for the year 2018. All three iPhones come with the same notched display as iPhone X. This year, Apple opted for a cheaper iPhone XR which starts at $749. The Apple iPhone XS is the same size as last year's iPhone X and starts at $999. The biggest iPhone XS Max comes with a massive 6.5-inch OLED display and starts at $1099. In India, the devices will be sold in the second phase of the launch. iPhone XS and iPhone XS Max will start selling in India from September 28. iPhone XR will come to India on October 26 along with its global launch.
 
Walmart and Flipkart employees can switch between companies
 
Global retail giant Walmart has informed its employees through an internal communication that they have an option to work on various projects at online marketplace Flipkart. A similar communication has been sent at Flipkart, seeking employees' interest in working at Walmart to learn more about how the retail giant functions, as reported by the Business Standard. The move might help both companies and their employees. While Flipkart management hopes its employees would learn to handle grocery segment, Walmart can  more about the logistics, delivery side of business as well as about the technology behind running an e-commerce marketplace.
 
Vijay Mallya extradition hearing: London court reserves decision for December 10

The Westminster Magistrates' Court has reserved its decision over extradition of Vijay Mallya to India for December 10. The bench heard the closing arguments in the extradition proceedings as well as reviewed the prison cell which has been prepared for the embattled business tycoon in Mumbai's Arthur Road jail. Defending his case, Mallya's lawyer argued that the Indian government has failed to provide any substantial evidence to form a 'prima facie' case of fraud against him, justifying his extradition, said a Reuters report.
 
Maruti to move factory out of Gurgaon, says R C Bhargava

The relocation of Maruti Suzuki's plant in Gurgaon to a less inhabited area is inevitable, company chairman R C Bhargava has said. The thirty-five-year-old plant was the company's first manufacturing facility and has a capacity to make about 700,000 cars every year. The move is being made due to the congestion issue faced by the residents on a daily basis. More than 4,000 trucks enter and leave the company's two plants in Haryana every day, leading to traffic hassles for residents as reported by the Business Standard
 
Industrial output grows at 6.6% in July as manufacturing, capital goods shine

India industrial production grew at 6.6 per cent in July on the back of good performance by the manufacturing sector and higher offtake of capital goods and consumer durables. Factory output measured in terms of the Index of Industrial Production had expanded by just 1 per cent in July last year, according to the data released by Central Statistics Office
 
Apple Watch Series 4 launched at $399 with ECG, healthcare features

Apple has announced the new Apple Watch Series 4, the first to feature a built-in ECG scanner. Apple has always envisioned the Apple Watch 4 as a health device, and along with tracking electrocardiogram, it can also detect a fall, and even detect the heart rate when it is too low.