Auto Expo 2018: New Maruti Suzuki Swift 2018 launched at Rs 4.99 lakh
The third-generation Maruti Suzuki Swift was launched at the Auto Expo 2018. One of the most-awaited hatchbacks of the year, the new Swift was launched in India with a starting price of Rs 4.99 lakh (ex-showroom price Delhi). With reformed design, better fuel efficiency and improved safety, the 2018 Maruti Suzuki Swift is expected to recreate the success of preceding generations. This is the first time Swift has undergone radical design changes since its India launch in 2005.
Hyundai to launch 9 products in 3 years
India's second-largest carmaker Hyundai Motor India is looking at a product blitzkrieg, bringing in nine products in the next three years that include a possible comeback of the Santro later this year as well as its first electric vehicle (EV) and a compact SUV next year. The aggressive push comes against the backdrop of a growing clamour for electric vehicles and intensifying competition with the entry of its affiliated firm Kia Motors next year.
FM Jaitley defends LTCG tax
Finance Minister Arun Jaitley has defended the imposition of the long-term capital gains (LTCG) tax on listed stocks. He said the Budget proposal was to tax the wealthiest sections of society. He also said that the Budget, in these challenging times, provided Rs 120 billion relief to the middle class, including pensioners and senior citizens. Commenting on accusations of the tax spooking the market, he said the market movement was due to global cues.
Google penalised for alleged unfair practices
India's antitrust regulator has imposed a fine of Rs 136 crore on Google Inc. for unfair business practices in the local market for online search. Passing the order on complaints filed in 2012, the Competition Commission of India (CCI) said the penalty is being imposed on Google for "infringing anti-trust conduct". Globally, this is one of the rare cases where the world's favourite search engine has been penalized for unfair business practices. It was alleged that Google abused its dominant position in online search through practices leading to search bias and search manipulation, among others.
Dow Jones down again: Asian stocks plummet after Wall Street's over 1000 points slide
Asian stocks tumbled to two-month lows on Friday after Wall Street shares suffered yet another big slide in the face of rapidly-rising bond yields, with perceived havens such as the yen and Swiss franc in demand amid the turmoil. Japan's Nikkei sagged 3.3 percent, en route for a weekly loss of 8.9 percent.