Office Leasing Stays Flat
The leasing of office space remained flat at 41.7 million sq ft last year, a report said.
Quoting a survey by Knight Frank India, it said that average rental rose three per cent during the year. Office space absorption stood at 41.6 million in 2016 in the report, it said. The seven cities tracked in the survey are Pune, Mumbai, Delhi-NCR, Chennai, Bengaluru, Hyderabad and Ahmedabad.
Samsung Eyes Online Push
Samsung India is planning an all-out push to gain leadership in online space, intensifying its war with Chinese phone maker Xiaomi, a report said.
The South Korean company will launch new smartphones specifically for the online space and it will be priced around 5,000 to 15,000 rupees. Both Samsung and Xiaomi are leaders in the Indian market.
Smooth Ride For Auto Industry
The automobile industry is set to register a rise in local sales this year, a report said.
The Society of Indian Automobile Manufacturers has forecast that sales of passenger vehicles will increase 9% and commercial vehicles 13%. The sale of two-wheelers will expand 12%.
India Down In Broadband Speed
India has slipped on the mobile broadband speed rankings by four places, ranking 111 in December last year, according to a report.
This puts the country’s average speed below Pakistan (88), Sri Lanka (101) , Myanmar (84) and Kazakhstan (64), according to statistics of Speedtest by Ookla.
Jeans Maker Looking For Buyer
Pepe Jeans is seeking a buyer for its Indian arm as investors of the global brand try to monetise part of their holdings, a report reveals.
The Barcelona-based firm is seeking 2,000 crore rupees for its 100% stake in the Indian unit, sources said. The sale may attract financial investors.
Hyundai Launches Sedan Variants
Hyundai Motors has launched two new variants of its premium mid-sized sedan Verna, says a report.
The Verna with a 1.4 litre petrol engine is priced at 7.79 lakh rupees and 9.09 lakh rupees ex-showroom Delhi. The regular model has a 1.6 litre petrol engine and diesel powertrains.
Whirlpool To Lift Production
Whirlpool is planning to invest 182 crore rupees to boost production of single-door refrigerators, says a report.
The home appliance maker is seeking to increase the capacity of single-door refrigerators from the current 21 lakh units by six lakh units per annum. It said.
Value-Meals On The Menu
Fast food chains Burger King, Kentucky Fried Chicken and Carl’s Jr. are aggressively selling value-meals to capitalise of the space vacated by McDonalds in the north and east of India.
The void has been created after the local unit of McDonald’s got into a dispute with its global parent. About 80% of the fast food giant’s outlets have been shut over the last two weeks.
A Sweet Touch To Eveready
Dry cell batteries maker Eveready Industries India is entering the confectionary business as part of its plans to diversify its business, a report reveals.
It will launch Jollies in the fruit-chew segment, which is estimated to be worth 400 rupees and is expected to grow at a rapid pace.