Tata Motors isn’t first in the Indian automotive industry to sign a wage agreement with factory workers that is performance linked — it is a common practice in the two-wheeler industry — however, with the recent wage settlement at Pune, the company has definitely set a precedent for others. Experts feel this paves way for better industrial relations, and a younger workforce is likely to feel more aligned to such an approach.

On Tuesday, Tata Motors and the Pune Workers' Union, which covers around 6,400 employees, signed a wage settlement for three years effective September 1, 2015. It will be valid through August 31, 2018.

The Supreme Court's decision to disallow the sale and registration of BS-III vehicles from April 1 will not only impact auto makers but also other stakeholders, according to Vinod K Dasari, managing director of Ashok Leyland and president of Society of Indian Automobile Manufacturers (SIAM).

Dasari also said that companies will find ways and means to address the challenge, including looking at export markets and converting the vehicles to BS-IV. The latter could see the cost of the vehicles increase by 8-10 per cent.

Mumbai: Royal Dutch Shell Plc’s India unit and Bharat Petroleum Corp. Ltd (BPCL), the country’s second largest fuel retailer, may team up to help the latter set up an energy trading unit in Singapore, two officials aware of the development said.

A Singapore office has been in the works for BPCL to expand its global reach and participate in trading of crude oil, natural gas and energy derivatives, the two said on condition of anonymity.

More than 3,100 fresh foreign portfolio investors (FPIs) registered with capital markets regulator Sebi in the April-February period of the current fiscal, indicating that India remains an attractive destination.In comparison, about 2,900 FPIs had received approval from the Securities and Exchange Board of India (SEBI) in the entire last financial year (2015-16). The number of FPIs with Sebi’s approval rose to 7,428 at the end of February from 4,31 at the end of March 31. The number of FPIs with Sebi’s approval rose to 7,428 at the end of February from 4,31 at the end of March 31, 2016, reflecting an addition of 3,117 such investors, according to the latest data from SEBI.

Kotak Mahindra Bank’s board on Thursday approved raising capital by issuing 6.2 crore equity shares, amounting to about Rs 5,500 crore at the current market price, to facilitate pursuing acquisition opportunities, tap into the business of stressed assets and support the lender’s organic growth.

The company plans to raise the capital through rights issue, public issue or private placement, including QIP (Qualified Institutions Placement) or through any other permissible means, it said in a statement.

Microsoft Philanthropies today said it has contributed a total of over USD 10 Million towards community development in India during 2016. It said the contribution includes both cash and technology investments to transform the way nonprofits deliver impact in India, offer educational opportunities to empower the next generation and extend support during humanitarian crises. Globally, Microsoft Philanthropies has committed more than USD 650 million in 2016 and impacted lives of more than 15 million youth across 58 countries, it said in a release.

State-run power equipment maker BHEL today said it has commissioned the second 800-MW unit of Yeramarus thermal plant in Karnataka. The company had commissioned the first unit of 2×800 MW Yeramarus thermal power station located in Raichur district of Karnataka in March last, BHEL said in a statement. The project has been developed by Raichur Power Corporation Limited (RPCL), a joint venture with equity participation from Karnataka Power Corporation Limited (KPCL) and BHEL.

A day after Supreme Court's ban on non-BS-IV compliant vehicles, two-wheeler companies are giving heavy discounts to clear inventories. Discount level is going as high as upto Rs 12,500.

While requesting anonymity, two wheeler-companies have confirmed high discounts are offered at dealerships to clear the stocks.

New Delhi: The civil aviation ministry on Thursday awarded first-ever regional flights based on a new subsidy model to five airlines that will expand flights to many new airports in the country.

Air India, Air Deccan, SpiceJet, Air Odisha and Turbo Megha have got rights to fly 128 routes which will require them to cap half the seats at about 50% of the fare.

Berlin: Mercedes-Benz is accelerating its rollout of electric cars in a race to meet tighter emissions rules as European buyers turn away from fuel-efficient diesel cars.

In a €10 billion ($10.8 billion) project, the world’s largest luxury-car maker intends to release 10 new electric vehicles by 2022, three years earlier than a target announced at the Paris auto show in September. The expedited time frame reflects the urgency facing manufacturers as they brace for a shift away from traditional automotive technologies.

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