TNM

IEA says Iran’s oil exports rise above sanctions limit

IEA says Iran’s oil exports rise above sanctions limitThe International Energy Agency has said in its monthly report that the total export of oil from Iran has risento their highest in 20 months, which is higher than 1 million barrel-per-day limit set by western powers as sanctions on the Islamic republic.

CPO prices not to face downward pressure, research

CPO prices not to face downward pressure, researchAccording to a new research, the price of Crude palm oil (CPO) may not face downward pressure due to the increased production of palm oil.

Kenanga Research said that the fall might be limited and due to weak exports. The research institute said that extra supply is expected to be taken by Indonesia's biodiesel mandate and the lower exports will be a short term phenomenon. Experts said that the effect of a bumper soybean harvest from South America is expected to remain only for a month.

Pattison to step down as CEO of Wal-Mart's S.African unit

Pattison to step down as CEO of Wal-Mart's S.African unitGrant Pattison, the chief executive officer of the South African unit of Walmart called, Massmart, has indicated that he is planning to step down from the top job.

The head of the retail giant said that he will step down this year, the company said on Friday. Pattison has been heading the company since previous seven years, when the company recorded a steady growth. He also oversaw the sale of a majority stake to U. S. retailer Wal-Mart Stores.

SPH records 7.5% rise in second quarter profits

SPH records 7.5% rise in second quarter profitsSingapore Press Holdings (SPH), the leading  Media and property company has said that it has recorded a 7.5 per cent rise in its net profit during the second quarter of the year.

The company's earnings were boosted by a one-off gain arising from a partial divestment of its stake in a regional online classifieds business. The company has said that its net profit for the three months till 28 February, 2014 recorded an increase to S$81.3 million compared to the same quarter of the previous year.

NZ records fall in house sales

NZ records fall in house salesAccording to the latest figures released, the total housing sale has fellen in New Zealand market.

The data also showed that the median price of homes are increasing in the country. The Real Estate Institute of New Zealand said that the sale of houses in the Western Bay fell during the month of March.

Figures showed that Tauranga housing sales fell 21 per cent to 127 from 163 a year ago. However, the median price increased 11.8 per cent to $388,000 from $347,000. The sales in Mount Maunganui-Papamoa fell 17.9 per cent from 123 to 101 and the median prices increased 5.9 per cent to $450,000 from $425,000.

BoC appoints Carolyn Wilkins as deputy governor

BoC appoints Carolyn Wilkins as deputy governorCanadian central bank, the Bank of Canada has appointed Carolyn Wilkins as its senior deputy governor on Friday.

The bank has said that it is promoting an insider with experience with financial markets.

The senior banker also has credibility as the second in command at the central bank. Wilkins has been working for more than a decade with the bank and has been working as the adviser to the governor.

Packer to reach settlement with Lachlan over One.Tel

Packer to reach settlement with Lachlan over One.TelIt is believed that James Packer and Lachlan Murdoch are nearing a settlement over their dispute over their conduct as directors of dotcom bomb One. Tel.

Some have indicated that the long running dispute might be over soon. Officials indicated that the settlement discussions are revolving around the payments the two sides will make to settle the dispute. The settlement amount could be in the range of between $40 million and $50 million.

Jaguar sales jump 19.4%, Land Rover’s slip 1.1%

Jaguar sales jump 19.4%, Land Rover’s slip 1.1%While Tata Motors' Jaguar segment enjoyed an impressive seasonally adjusted year-on-year rise of more than 19 per cent in sales in March this year, Land Rover segment saw a considerable decline in its worldwide sales during the same month.

Jaguar Land Rover (JLR), the UK-based luxury car arm of Tata Motors, reported that sales of its Jaguar vehicles jumped 19.4 per cent year-over-year in March, while Land Rover sales slipped 1.1 per cent.

Google executive explains Android to Apple vs. Samsung jury

Google executive explains Android to Apple vs. Samsung juryIn a bid to prove that Samsung devices didn't copy Apple products, the South Korea-based smartphone maker on Friday brought up an Android executive in the ongoing patent trial to verify that certain controversial features were created by Google, and not Apple.

Hiroshi Lockheimer, vice president of Android Engineering, explained Android to the Apple vs. Samsung jury in California. He spent a good deal of time explaining the differences between Google's Android and Apple's iOS.

Car sales expected to marginally increase this fiscal

Car sales expected to marginally increase this fiscalAfter suffering decline in sales for two years in a row, Indian car industry is expected to see a marginal increase in sales this fiscal on the back of improvement in the third largest Asian economy.

The industry is hopeful that improvement in economic activity over the recent months and potential economic rebound after the formation of new government will provide a boost to car sales this fiscal.

Zee and Star dissolve their channel distribution JV MediaPro

Zee and Star dissolve their channel distribution JV MediaProEntertainment giants Zee Turner Ltd. and Star Den Media Services Pvt. Ltd. have decided to dissolve their channel distribution joint venture MediaPro in order to meet market regulator's new regulations.

Under the Telecom Regulatory Authority of India's new regulations, TV channel distribution companies can not bundle up channels of multiple broadcasters in one package.

In a recent filing with the Bombay Stock Exchange (BSE), Zee said their decision to dissolve the JV was pursuant to the change in regulations declared by the regulator.

Infosys may announce new CEO within next 3-5 months

Infosys may announce new CEO within next 3-5 monthsInfosys has confirmed that its CEO S. D. Shibhulal has requested the board to relieve him in January 2015, ahead of his scheduled retirement, fuelling speculation that the software firm's search for the new CEO is nearly over.

Mr. Shibulal has requested Infosys board to relieve him on January 9, 2015, or when his successor is ready to take charge, whichever is earlier. That date is almost a year before of Mr. Shibulal's scheduled retirement in March 2016.

U.S. federal court overturns hacker Andrew Auernheimer’s conviction

Andrew AuernheimerA U. S. federal appeals court on Friday overturned the conviction of computer hacker Andrew Auernheimer, ruling that putting him on trial in New Jersey was improper as his alleged hacking had taken place elsewhere.

Auernheimer was convicted in 2012 for hacking into AT&T's website and stealing nearly 120,000 e-mail addresses of iPad users, including then-New York Mayor Michael R. Bloomberg and Hollywood executive Harvey Weinstein, and give them to the website Gawker.

Amazon preparing to launch Kindle smartphone: report

Amazon Kindle phoneAfter gaining a considerable share of the global tablet market, Amazon is preparing to introduce a smartphone of its own, according to a fresh report published in the Wall Street Journal (WSJ).

Citing anonymous sources, the WSJ reported that Amazon recently demonstrated versions of its purported Kindle smartphone to developers in its hometown Seattle and San Francisco.

The report added that the e-commerce giant has plans to introduce the smartphone by July and start shipping it by the end of September this year.

Researcher finds Chrome bug that can allow hackers to snoop on conversations

Researcher finds Chrome bug that can allow hackers to snoop on conversationsAn Israel-based researcher claimed to have uncovered a security hole/ vulnerability in Google Chrome web browser that can reportedly allow an attacker to snoop on the targeted person's conversations.

Guy Aharonovsky said that the security hole could allow a hacker to listen in on someone, even if the targeted person turns access to their microphone in the Chrome settings off. He added that he discovered the hole in Chrome while experimenting with a voice recognition feature of the browser.

Symphony Teleca to acquire Bangalore-based Aditi Tech

Symphony Teleca to acquire Bangalore-based Aditi TechAmerican technology firm Symphony Teleca Corporation (STC) has confirmed that it will acquire Bangalore-based Aditi Technologies, which will keep on operating as a new unit of STC with no changes in leadership.

STC will use Aditi Tech's design and cloud expertise as a strategic growth lever to complement its engineering, mobile as well as analytics abilities. The American firm said the acquisition was aimed at developing its capabilities to deliver Systems of Engagement (SOE).

Toyota to introduce new series of fuel-efficient engines

Toyota to introduce new series of fuel-efficient engines Japan-based Toyota Motor Corp. has announced its plans to introduce a new series of fuel-efficient engines that will cut fuel costs for vehicle owners and help manufacturers meet tighter emissions regulations.

Toyota said it would introduce a total of 14 engine models in the new series fuel-efficient engines over the next couple of years.  The new series start off with 1.0 and 1.3 litre gasoline engines.

Tata Motors’ shares jump on strong JLR sales

Tata Motors’ shares jump on strong JLR salesStock in Tata Motors gained 0.64 per cent to Rs 433.50 a share in early morning trade on Friday on the Bombay Stock Exchange, after the company's UK-based luxury car arm Jaguar Land Rover (JLR) reported strong Q1 sales.

JLR on Thursday announced that its sales jumped 8 per cent to 124,776 units in March quarter of 2014 over the same quarter of the previous year. JLR sales rose 3% to 55,183 units in March 2014 over March 2013.

In the month of March alone, JLR sales jumped 3 per cent year-on-year to 55,183 vehicles.

India’s GJEPC signs MoU with Russian diamond producer Alrosa

GJEPCIndia's Gem & Jewellery Export Promotion Council (GJEPC) has signed a memorandum of understanding (MoU) with Russian diamond mining firm Alrosa to share information on diamond trade between the two nations.

The MoU, signed by GJEPC Chairman Vipul Shah and Alrosa President Fyodor Andreev in Moscow on Thursday, will allow the two sides to share trade as well as statistical data on the diamond trade between the two nations.

Modi can have obstacles in attracting investments if doesn’t get big mandate

Narendra ModiGujarat received huge investments during the reign of Narendra Modi because he has run the state like a CEO and not like a CM, an expert market observer said.

Hong Kong-based chief equity strategist Christopher Wood, of CLSA Asia-Pacific Markets, commended Mr. Modi for his ability and efforts to attract investments into the western state. However, he cautioned that he will have obstacles in attracting investments on the national level if he does not get a big mandate to run the country.




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