QBiz: Maruti to Phase Out Diesel Cars From April 2020 & More

1. Maruti to Phase out All Diesel Cars from April Next Year

Maruti Suzuki, the country’s largest vehicle manufacturer, today announced that it will stop manufacturing diesel vehicles from April 1, 2020 when the new BS 6 emission norms will be introduced. The high cost of upgrading existing diesel engines to the BS 6 norms propelled the company to take such a decision.

The company will try to focus on compressed natural gas (CNG) and hybrid technology driven vehicles to compensate the vacuum created by the phasing-out of diesel vehicles.

(Source: Livemint)

Also Read: Maruti Suzuki to Stop Selling Diesel Cars from April 2020

2. Tata Steel’s Net Profit Falls 84% to Rs 2,295 Crore in Q4

Tata Steel, India’s largest private sector steel producer, posted a 84% drop in fiscal fourth quarter consolidated net profit mainly because the year-earlier profit was boosted by a one-time gain.

Tata Steel’s consolidated net profit figure for Q4 FY19 is not directly comparable to Q4 FY18 as it does not include NATSteel Holding and Tata Steel Thailand as they are classified as Asset Held For Sales.

(Source: Livemint)

3. Microsoft Edges Toward $1 Trillion Valuation on Results Beat

Microsoft Corp.’s cloud computing business fueled quarterly sales and profit that topped analysts’ estimates, boosted by several new deals with large corporate clients.

The company’s shares rose as much as 5.1% Thursday morning in New York, briefly pushing its valuation across $1 trillion before pulling back slightly. The move nosed the software maker ahead of Apple Inc. as the world’s most valuable company. The two tech giants, along with Amazon.com Inc., are all within striking distance of the symbolic $1 trillion mark as their stocks have rallied this year.

(Source: Livemint)

Also Read: Microsoft Unveils the Disc-Free Xbox One S Console for Rs 17,670

4. RBI Deputy Governor BP Kanungo Bats for Capital Account Liberalisation

Reserve Bank of India (RBI) Deputy Governor B P Kanungo has argued in favour of revisiting India’s capital control regime and letting companies invest overseas more freely to secure the country’s energy and economic needs.

While the rupee can freely be converted on the current account, the central bank imposes limits in the case of the capital account. This means one cannot take out the rupee beyond a particular limit to use it overseas.

(Source: Business Standard)

5. WhatsApp Pay Being Tested in India, but Have No Timeframe: Mark Zuckerberg

Facebook is betting big on the growth of digital payments in India and is in the process of a full-fledged launch of WhatsApp Pay soon. The move would put the Menlo Park, California-based social media giant in direct competition with players like Alphabet’s Google Pay, Walmart owned PhonePe, Amazon Pay and Alibaba-backed Paytm which are already locked in a fierce battle to dominate the digital payments space in the country.

(Source: Business Standard)

Also Read: WhatsApp Won’t Let You Take Screenshots When Fingerprint Enabled

6. Government Department Discuss Draft Bill to Ban Cryptocurrencies

The government has kicked off inter-ministerial consultations on a draft bill to ban cryptocurrencies and regulate official digital currencies.

The “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019" draft has been circulated to relevant government departments, a government officials aware of details told ET.

(Source: The Economic Times)

7. India Alleges Big Multinationals Pocketed Gains from GST Rate Cut

Indian tax authorities have alleged that a number of big multinational companies have not passed on benefits from a tax cut to customers, a senior government official told Reuters.

The official said, for example, that the tax authorities have alleged that U.S. consumer goods maker Procter & Gamble did not pass on more than $35 million in tax benefits which were meant to have gone to its customers.

(Source: The Economic Times)

Also Read: The Rampuri Chaaku Wallas on GST, DeMo & LS Polls

8. India May See Policy Uncertainty in Oil and Gas Sector If UPA Wins; Fitch Solutions Explains Why

A victory of opposition UPA alliance in the general elections could bring “considerable uncertainty” to India’s policymaking environment and disappointment on oil and gas reforms, Fitch Solutions said Thursday.

“Given our core scenario for Prime Minister Narendra Modi’s National Democratic Alliance (NDA), led by the Bharatiya Janata Party (BJP), to secure the most number of seats in the upcoming Lower House elections, we expect to see policy continuity in India’s oil and gas sector over the coming years,” it said in a note.

(Source: Financial Express)

9. PepsiCo Wants to Save Lay’s Potato, Sues Farmers for Growing It; Twitterati, Activists Back Farmers

FMCG giant PepsiCo has sued farmers for growing the potato variety which the company uses to make its Lay’s chips. With this, PepsiCo has landed itself in massive backlash from Twitterati. In what is reminiscent of previous HUL controversy where people demanded a boycott of ‘videshi’ company, PepsiCo is also being called out for being a foreign company which is trying to take undue advantage of farmers. The hearing of the case is due tomorrow ie 26 April 2019 in Ahmedabad court.

(Source: Financial Express)

Also Read: Ex-Pepsico CEO Indra Nooyi Being Considered to Lead World Bank

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