BUSINESS
Jack Ma’s Alibaba to shut down music app Xiami, speculations rife over company scaling down businesses
Alibaba’s music arm announced that Xiami music platform’s services will be halted from next month onwards. This shutdown will translate into a major setback for Alibaba as its plan to enter the Chinese entertainment industry will take a hit. "Due to operational adjustments, we will stop the service of Xiami Music from February 5,” the music arm of Alibaba said in a statement.
Hotel occupancy levels improved to 35% in November 2020: JLL
According to JLL, occupancy levels have grown month-on-month since September 20 to cross 35 per cent sector-wide in November 2020 (as per STR or Smith Travel Research data), which is the highest since the beginning of the nationwide Covid-19 lockdown in March 2020.
Microsoft Azure helps IRCTC chatbot boost user experience by 70%
Developed by conversational AI platform CoRover, the virtual assistant uses technologies like artificial intelligence (AI), machine learning (ML) and natural language processing (NLP) to answer passenger queries. Following the success of AskDISHA, IRCTC is partnering with CoRover to co-sell and re-sell AI products and services to government and private organisations across industries, the company said in a statement.
Buying on Dips: Markets bounce back after initial slide, IT stocks shine
The market's up-move comes after global cues subdued investors' sentiments. Subsequently, investors dived into the market to buy stocks in decline which triggered another uplift. Amongst sectors, some losses were witnessed in the Metal, Auto and Realty indices. However, IT, Banking and Financial Services spaces traded in the green. Besides, FIIs continued their buying streak, at the same time, DIIs continue selling.
India witnessing V-shaped recovery since June: Finance Ministry Report
The Monthly Economic Recovery for December by the Department of Economic Affairs (DEA) also noted that the impending vaccination is set to spur the momentum in economic activity globally. The agricultural sector remains the bright spot of Indian economy, with healthy year-on-year growth of 2.9 per cent in rabi sowing, accelerating tractor sales, and reservoirs' live storage at 122 per cent of decadal average.
Replace Commercial Director Meenakshi Malik as she faces conflict of interest: Air India pilots
Air India pilots have asked the management to immediately replace the airline's Commercial Director Meenakshi Malik who is heading a consortium bidding for the national carrier.
FCA India to expand local product line-up with $250 mn investment
Accordingly, the all-new local vehicle line-up includes the 2021 made-in-India Jeep Compass, a locally produced and global-first three-row Jeep SUV, the Jeep Wrangler, and next generation Grand Cherokee flagship, which will both be locally assembled in FCA's joint venture manufacturing facility in Ranjangaon.
L&T lowest bidder for Rishikesh-Karnaprayag railway project, to bag Rs 3,000 crore contract
The scope of this engineering and construction project includes completing tunnel work by Tunnel Boring Method (TBM) and New Austrian Tunnel Method (NATM) with formation, construction shaft and ancillary works from Chainage 47+360 to 63+117 Km in the Himalayan State of Uttarakhand.
Kirin Holdings to invest $30 mn in 'Bira' maker B9
The investment comes as a major boost for the beer maker amid the severe impact of the pandemic. The company has reported losses in the recent year. B9 expects this investment to help the company reach break-even in the upcoming financial year.
First ever Indian rice purchase by Vietnam comes after decades
Contracts have been made with Indian traders to export 70,000 tonnes of 100% broken rice for January and February shipments at around $310 per tonne on a free-on-board (FOB) basis, the industry officials said. "For the first time, we are exporting to Vietnam," B.V Krishna Rao, president of the Rice Exporters Association, told Reuters on Monday.
Don't Miss
Advertisement