Weekly NEWS(6th Sept to 10th Sept) By: Nitin Kochhar MBA 2C
Apple’s new iWatch can be worn on wrist Apple launched new iPod “iWatch”. The smallest music player in the market, weighs a mere 21 grams which can be worn on the wrist. Functions similar to iPod & iPhone having a ‘multi-touch’ screen.
MTS to launch 20 new models within 6 months MTS, the mobile telephony services brand of SistemaShyam Teleservices Ltd would be launching 20 new models of smart phones. Provides direct access to at least 15 social networking sites including Facebook & Twitter. Three handsets ‘Buzz’, ‘Alive’ & ‘Ivory’ are to be launched will be priced at Rs 4999, Rs. 5999 and Rs. 12000 respectively.
Banks may get to fix interest rates on savings a/c RBI has moved a step forward to deregulate interest rate on savings a/c. Deregulation would mean that banks would have the freedom to set the interest rate on savings accounts based on their needs for funds. Currently, interest rate on savings account mandated by RBI is 3.5%
HC says Vodafone must pay tax on Hutch buy The high court ruled that Vodafone must pay a capital gains tax on its $11 billion acquisition of a controlling stake in mobile phone operator Hutchison Essar, completed in 2007. $2 billion tax liability is estimated on Vodafone.
Reckitt-BhartiWalmart brand battle on Reckitt Benckiser has served a legal notice on BhartiWalmart. Reckitt Benckiser has demanded that BhartiWalmart should withdraw its Great Value toilet cleaner as it infringes upon the ‘bottle design cap’ of Reckitt’sHarpic brand.
SBI likely to extend teaser rates beyond Sept. SBI offers home loans at 8% for the first year, 9% for second & third year and 1.75% above base rate from fourth year for loans up to Rs. 50 Lakhs. SBI’s base rate 7.5% HDFC is the prime competitor . HDFC provides home loan of up to Rs. 30 lakhs at 9.25% a year and loans above Rs. 50 lakhs at 9.75% p.a.