Companies & Sectors
Diesel car ban cost auto industry Rs 4,000 cr in 8 months: SIAM
New Delhi: Society of Indian Automobile Manufacturers (SIAM) here on Wednesday said the auto industry has lost about Rs 4,000 crore in last eight months after the ban on diesel vehicles in Delhi-NCR.
 
"The auto industry has lost Rs 4,000 crore in the last eight months. I feel everyone wants to regulate the auto industry," said SIAM President Vinod K. Dasari at its 56th annual convention.
 
The ban was lifted by the Supreme Court earlier this month on diesel vehicles above 2,000 cc with one per cent environment cess.
 
Dasari said, the cess, however, will not deter people from buying the diesel vehicles and is unlikely to have any effect on pollution.
 
Union Minister for Heavy Industries Anant Geete, who was also present at the conference, said that the ministries were discussing the issue of pollution.
 
"The auto industry has the government's backing but the court's order must be respected," Geete said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Uttarakhand HC stays Rakesh Roshan's arrest
Nainital : The Uttarakhand High Court has stayed the arrest of Bollywood producer-director Rakesh Roshan till September 19, an official said on Wednesday.
 
A Dehradun-based writer Roop Kumar Sonkar had lodged an FIR against Roshan for copyright violation and accused him of using some parts of his novel in his movie Krish-3 which stars his actor son Hrithik Roshan.
 
Roshan had requested the court to quash the FIR, which Justice U.C. Dhyani refused to do, asking the police not to act against him till September 19.
 
The court on Tuesday said it will take a decision on September 19 if the producer should be arrested or not.
 
The Krish series maker said the script was his original and that there was no copyright violation.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Microsoft sells MSN China operations
Beijing : US tech giant Microsoft has sold MSN China -- a Chinese edition of its global web portal -- to its local partner Xichuang Technology (Beijing) Co. Ltd founded by the portal's top executive.
 
Microsoft said on its official blog that it had signed an agreement to sell MSN China, effective from September, reported Chinese website caixin.com.
 
The financial terms were not disclosed.
 
Xichuang Technology was co-founded late in 2015 by Liu Zhenyu, MSN China's former General Manager.
 
According to the report, Microsoft's MSN China portal never took off owing to government regulations and stiff competition from local rivals.
 
MSN China has strong rivals like Sina and Tencent but according to Microsoft, China is still one of its strategic markets.
 
"After selling off the unpopular unit, Microsoft will continue to invest in China in other businesses, including computing and cloud services," the statement said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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