Business News

Now rediscover your city like never before with 'AskLocal' from Jugnoo

Now rediscover your city like never before with 'AskLocal' from Jugnoo

New Delhi [India], Apr 20 : Hyper-local startup Jugnoo has announced AskLocal - a Geo-location based hyper-local content platform for users where they can access locally relevant information.

With this, Jugnoo is introducing a new way to connect within cities based on relevant content, reviews, and recommendations.

Just like Facebook and Twitter, which are friends-based and events-based content networks respectively, the AskLocal vertical offers a location-based content network. The feature will be Geo-location based, allowing users to view local feeds for their city.

It is part of the bouquet of hyper-local services offered by Jugnoo that includes rides, meals, fresh, and menus.

Musical contest #FindYourBeat opens on social media

Musical contest #FindYourBeat opens on social media

New Delhi [India], Apr 20 : #FindYourBeat, the online musical challenge, launches today on Facebook and Twitter.

#FindYourBeat is a one-minute social, musical challenge to engage and reward people through their love for music. The contest starts on 20th April and will run for a period of three days, ending on 22nd April 2017.

Myntra acquires Bengaluru-based technology platform 'InLogg'

Myntra acquires Bengaluru-based technology platform 'InLogg'

New Delhi [India], Apr 20 : E-commerce portal Myntra on Wednesday announced that it has acquired InLogg, a Bengaluru-based technology platform that provides end to end logistics solutions for the ecommerce sector.

As part of the acquisition, the team at InLogg has been inducted into Myntra, making it an acqui-hire that will further strengthen and expand Myntra's supply chain capabilities.

Hotstar registers over 100 million downloads on Play Store

Hotstar registers over 100 million downloads on Play Store

New Delhi [India], Apr 20 : Online video platform Hotstar on Wednesday crossed another milestone by becoming the first local service to register over a 100 million downloads on Google Play Store.

The 'Make in India' video platform raced ahead of other consumer internet companies in India, including e-commerce services like Amazon India and Flipkart, taxi ride services like Ola and payment apps like Paytm, among others.

Almost all of Hotstar's downloads have come from India. The service reached this milestone within just 2 years of its launch in 2015.

Across the Play Store, App Store and other Android app stores cumulatively, Hotstar has crossed more than 200 million downloads since launch.

Asset Vantage expands operations, acquires Santa Clara-based Financial Navigator

Asset Vantage expands operations, acquires Santa Clara-based Financial Navigator

New Delhi [India], Apr 20 : Asset Vantage Inc., a leader in cloud/mobile-based asset management, accounting and reporting system on the market on Wednesday acquired Santa Clara-based Financial Navigator Inc., a leading provider of integrated general ledger and portfolio tracking software focused on the wealth management in the United States market.

With the addition of Financial Navigator, Asset Vantage will further its expansion into the wealth management accounting software market in North America while gaining a seasoned team of developers and customer support personnel anchored in Silicon Valley. The two companies have a combined customer base exceeding 300 families globally.

Vahdam Teas witnesses growth; to expand footprints to more than 80 countries

New Delhi [India], Apr 10 : Global direct-to-consumer vertically integrated e-commerce tea brand Vahdam Teas on Monday announced receiving of investment worth USD 650,000 from a clutch of eminent angel investors including Kanwaljit Singh's Fireside Ventures, Singapore Angel Network and Mumbai Angels, who have consolidated their market position.

The company which earns its business online, as of today, has grown five

times in the last six months and plans to use the funding to invest in tea preservation technology along with a warehouse in its top market business in USA in the second half of 2017.

Broadband labelling crucial to empower consumer experience: TRAI

Broadband labelling crucial to empower consumer experience: TRAI

New Delhi [India], Apr. 8 : CUTS International on Friday organised a conference in the India International Centre, New Delhi on designing a nutrition label for broadband services in India.

Such a label will enable complete information disclosure by the Broadband providers on Quality of Service (QoS), in a standard format to consumers, which may result in safeguarding consumers from misleading advertisements, unfair contractual terms, practice of non-disclosures and most importantly, help them choose between services.

Droom, Uber joined hands for #LoveSuperbikes campaign

Droom, Uber joined hands for #LoveSuperbikes campaign

New Delhi [India], Apr 8 : Droom and Uber on Saturday announced the launch of a joint campaign called #LoveSuperbikes, which brought the thrill of speed to the users of the Uber app for a 15-minute experience of a lifetime.

Aditya Birla Health Insurance launches #JumpForHealth

Aditya Birla Health Insurance

New Delhi [India], Apr 8 : Aditya Birla Health Insurance Company Ltd. (ABHICL) launched a unique campaign '#JumpForHealth' on the occasion of World Health Day to reinforce its belief in empowering people to live a healthy lifestyle.

Through the JumpForHealth initiative, Aditya Birla Health Insurance is creating a movement that will get people up and on their feet through the power of jumping.

The month long campaign, starting from April 07, 2017, aims to donate one prosthetic leg to a person in need for every 10,000 jumps in association with the Sadhu Vaswani Foundation. A total of 100 prosthetic legs will be donated to people in need on achieving one million jumps.

Global tea production trends, favorable demand prospects likely to lead to an upward price trajectory in CY2017: ICRA

Global tea production trends, favorable demand prospects likely to lead to an up

New Delhi [India], Apr 8 : In the current year, tea realizations are expected to remain buoyant following higher demand for tea, particularly given the expected supply side issues in both Sri Lanka and Kenya.

However, buying patterns across tea segments, which had witnessed a considerable change in CY2016, will remain a key determinant of the overall price trajectory in the current year as well.

Despite the buoyancy in prices though, continuing cost pressures, with the increase in wage rates, are likely to keep the margins and debt coverage indicators of bulk tea producers under check. Nonetheless, the capital structure of large companies in the sector is expected to remain favorable.

Ola launches 'Ola Baasha Mela' in Chennai

Ola launches 'Ola Baasha Mela' in Chennai

New Delhi [India], Apr 7 : Taxi aggregator Ola on Friday announced organizing of India's first ever and largest Auto Driver Partners' Mela - 'Ola Baasha Mela' in Chennai from April 8th to 10th April 2017.

Ola has put together a three-day event that will introduce the city's potential Auto Driver Partners to Ola's platform, and give them the opportunity to purchase auto rickshaws at subsidized rates as well as avail several benefits such as free vehicle insurance, and garage services.

The first ever Mela will give many existing auto rickshaw Driver Partners the opportunity to become micro-entrepreneurs by adding autos to their fleet at a lower cost, and with a plethora of benefits. The same subsidies and benefits will also be extended to the new Driver Partners at the Mela.

Jugnoo Delivery successfully completes 4000 orders per day

Jugnoo Delivery successfully completes 4000 orders per day

New Delhi [India], Apr. 7 : Auto rickshaw aggregator Jugnoo registered phenomenal growth for its B2B delivery vertical- Jugnoo Delivery. Catering to 4000 orders per day from 2000 delivery orders in November 2016, Jugnoo Delivery has managed to proliferate in Tier I, Tier II and Tier III markets.

Jugnoo Delivery successfully serviced everything between industry bigwigs to the local merchants and restaurants in some of the top cities of the country. With 600 daily active merchants and 1500 weekly active merchants, the local merchants and restaurants have instigated major growth in Jugnoo's delivery segment.

SaleBhai launches international delivery of products, to cater to 195 countries

SaleBhai launches international delivery of products, to cater to 195 countries

New Delhi [India], Apr 7 : SaleBhai.com, an e-commerce marketplace that caters specifically to the Indian diaspora in India and abroad has announced the launch of international delivery of all products exclusively available on its platform.

The service will be available for both the Indian diaspora community and foreign nationals, giving them a chance to experience authentic Indian food products.

The international delivery service will allows consumers to easily find regional products sourced directly from Indian vendors across the country. It will be available across 195 countries, with special focus on the U.S., West and South Africa, Middle East, Australia, and the U.K.

Hindustan Power contributes 10 pct of Bihar's installed solar capacity

Hindustan Power contributes 10 pct of Bihar's installed solar capacity

New Delhi [India], Apr 7 : The clean energy arm of Hindustan Power commissioned a 10 MW solar plant at Shergati, Gaya in Bihar to power the cumulative solar capacity in Bihar to ~ 100 MWs.

The plant commissioned at an investment of Rs. 81 crore is spread over 56 acres of land using 34920 modules has been generating 45000 units of clean energy per day, since its commissioning in November 2016.

The PPA for the 10 MW project has been signed with Bihar State Power Holding Corporation Ltd. and the power is evacuated to 33 kV Sherghati Substation.

Uflex, Fiinovation to roll out natural resource conservation initiatives in Bhind

Uflex, Fiinovation to roll out natural resource conservation initiatives in Bhin

New Delhi [India], Apr.7 : Surging ahead in its endeavor towards creating sustainable ecosystem, India's largest multinational flexible packaging materials and solution company Uflex Limited has extended its existing partnership with Fiinovation (a global CSR consulting company) for natural resource conservation and optimization initiatives in Bhind District of Madhya Pradesh.

RBI holds repo rate but hikes reverse repo at 6 percent; projects inflation at 4.5 pct

RBI holds repo rate but hikes reverse repo at 6 percent; projects inflation at 4

New Delhi [India], Apr 6 : The Reserve Bank of India (RBI) on Thursday kept its repo rate unchanged at 6.25 percent, but made changes in the reverse repo rate at 6 percent after all the six members of the monetary policy committee (MPC), headed by Reserve Bank of India Governor Urjit Patel, voted in favour of the decision.

"For 2017-18, inflation is projected to average 4.5 percent in the first half of the year and 5 percent in the second half," said Reserve Bank of India (RBI) Governor Urjit Patel.

He said that the MPC believes that the inflation developments have to be closely and continuously monitored, with food price pressures kept in check so that inflation expectations can be re-anchored.

Patel further added that there is scope for transmission of rates.

Snapdeal, Government of Andhra and University of California tie-up for 'Smart Village Project'

Snapdeal, Government of Andhra and University of California tie-up for 'Smart Vi

New Delhi [India], Apr 6 : India's largest online marketplace Snapdeal on Thursday announced a partnership with University of California, Berkeley for the Andhra Pradesh government's Smart Village Project.

With the objective of discovering economical and infrastructural barriers faced by artisans in these villages, UC Berkeley and Snapdeal are aiming to create viable solutions through digitization and new-age services.

Under the partnership, Snapdeal will provide local handloom weavers, direct market access to buyers across the country, through its platform.

Products crafted by these artisans and associations will be curated and listed on a special page on Snapdeal. The company has currently on-boarded the handloom association of Meri Podu village as a seller.

RBI to announce fiscal's first bi-monthly monetary policy today

RBI to announce fiscal's first bi-monthly monetary policy today

New Delhi [India], Apr.6 : Reserve Bank of India (RBI) Governor Urjit Patel, along with the Monetary Policy Committee (MPC), will announce their first bi-monthly monetary policy of the current financial year today.

In its last policy review of the previous fiscal in February, the RBI kept its key policy rate or the repo rate unchanged at 6.25 percent for the second time in a row with marginal standing facility rate, reverse repo rate and the bank rate unchanged.

In October, Urjit Patel's first policy review as the RBI Governor, which was also the maiden review of the MPC, the repo rate was reduced by 0.25 percent to 6.25 percent.

Since then, the repo rate has been retained at 6.25 percent. However, since January 2015 the RBI has cut repo by 1.75 percent.

Madhabi Puri Buch joins SEBI as Whole Time Member

Madhabi Puri Buch joins SEBI as Whole Time Member

Mumbai (Maharashtra) [India], Apr. 6 : Madhabi Puri Buch took charge as Whole Time Member of Securities and Exchange Board of India ( SEBI) in Mumbai on Wednesday for a tenure of three years or until further orders.

Buch will handle the Market Regulation Department, Market Intermediaries Regulation and Supervision Department, Integrated Surveillance Department, Department of Economic and Policy Analysis, Office of Investor Assistance and Education, National Institute of Securities Markets and Information Technology Department.

Prior to joining, Buch served as the Consultant to the New Development Bank in Shanghai and as the Head of the Singapore office of the Private Equity Firm, Greater Pacific Capital.

PayU India launches online deferral payment facility 'LazyPay'

PayU India launches online deferral payment facility 'LazyPay'

New Delhi [India], Apr 5 : PayU India on Wednesday announced the launch of a first-of-its kind premium deferral payment facility for consumers 'LazyPay' aimed at those who transact digitally for any amount between Rs. 500 and 2500, and is an option to pay later.

The aim of the product is to drive faster purchase experiences and convenience by reducing friction on online checkouts and achieving a zero drop situation for online payments.

It is a convenience product for anyone to pay later and the facility could extend for amounts from Rs. 3,000 and even up to Rs. 10,000, depending upon customer behaviour.




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