The spree of reduction in interest rates on term deposits continued, with ICICI Bank on Tuesday cutting rates on one- and two-year retail deposits by 10 basis points (bps) to 6.9% and 7%, respectively. The bank also slashed the rate on three-year deposits by 25 bps to 6.75%.

ICICI Bank’s interest rate for one-year money is now at par with that of State Bank of India (SBI).

Over the weekend, ITC made price hikes in Gold Flake Regular and Premium (69mm) and Navy Cut (74mm) brands. The price for Gold Flake (69mm) has been increased to Rs 90/pack of 10 cigarettes (vs Rs 79 earlier) and for Navy Cut the price has been increased to Rs 89/pack of 10 cigarettes (vs Rs 78 earlier). We had highlighted earlier in our channel check note that some of the channel partners were anticipating the price hike in these brands. We maintain Outperform with a TP of Rs 304.

Wipro has taken an interesting approach towards digital through Wipro Digital, a unit that is branded separately and focuses entirely on business outcomes using strategy, design and technology as the enablers. Acquisition of Designit has been a shot in the arm. We maintain our reduce stance on Wipro noting multiple business headwinds but would keep a close eye on its aggressive and interesting approach to play catch-up in digital.

Reliance Industries has announced the commissioning of the first phase of its Paraxylene (PX) plant at Jamnagar, Gujarat.

The plant with capacity of 2.2 million tonnes per annum is built with state-of-the-art crystallisation technology from BP which is highly energy efficient and environment friendly.

The Sensex wiped off all its gains on Wednesday to end in the red with a minuscule fall at 26,211 as cautious investors took profit at higher levels ahead of the monthly derivatives expiry amid a mixed trend overseas. Besides, the rupee depreciated 18 paise intra-day against the dollar, to 68.24, which had a negative impact too. But volumes were thin during the session as most foreign investors are away on a vacation in a year-end holiday season and other participants chose not to widen their bets.

India overtook the US to become the largest country in terms of interest in mobile developer courses in 2016, Google India said on Tuesday search queries in mobile development courses from India saw 200 per cent (year-on-year growth) in the last two years. Karnataka, Tamil Nadu and Maharashtra led with bulk of Search queries for mobile developer courses.

“We have seen tremendous response across mobile developer courses from India, with 16,500 students enrolling every month, taking up Android development, mobile web development and learning new cloud-based technology courses,” said Peter Lubbers, Head, Google Developer Training, in a statement.

In a bid to tackle the call drop menace, Government has launched an Integrated Voice Response System (IVRS) system at multiple locations including Delhi and Mumbai to obtain direct feedback from subscribers on call quality. The feedback will be shared with operators so they can take corrective steps in the problem areas and address the issue of call drops. The IVRS system will be extended to the entire country shortly, an official release said.

NEW DELHI: Twitter and ICICI Bank announced a partnership on Wednesday that is aimed at integrating additional digital customer care support features to benefit customers with direct online response to their queries and feedback in real-time, Twitter said in a statement. The social networking platform said ICICI Bank is the first bank in India to implement the new features to its Twitter account @ICICIBank_Care for social customer care.

DUBAI: Hinduja Group flagship Ashok Leyland has launched Oyster staff bus in Saudi Arabia, the third product from India's second largest commercial vehicle manufacturer in the kingdom in six months.

The automaker had launched Falcon 66 seats and 56s school bus in July, Oyster midi-41 seater school bus in November and now come up with Oyster 33 seater staff variant.

ED has arrested a manager of a Kotak Bank branch here in connection with its money laundering probe in a criminal case of detection of nine alleged fake accounts with deposits worth Rs 34 crore post demonetization.

Officials said the agency arrested the manager of the bank's branch in the K G Marg area here, late last night after questioning.

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