Business News

India to make available more soft loans for new infrastructure projects in Nepal: Jaitley

India to make available more soft loans for new infrastructure projects in Nepal

New Delhi [India], Mar 3 : Union Finance Minister Arun Jaitley, who is attending the Nepal Investment Summit 2017 at Kathmandu, has stated that New Delhi is Kathmandu's largest partner in trade and investment with more than two-third of the country's trade being with India, accounting for nearly 40 percent of total FDI in Nepal.

"Nepal is well poised to attract further FDI from India by creation of a conducive legal and regulatory framework," said Jaitley while addressing the Nepal Investment Summit.

While sharing his views on India's experience in reforming its economy and attracting Foreign Direct Investment (FDI), Jaitley said that India and Nepal have wide ranging engagement in trade and investment.

Industry upbeat to expand business with IORA, says FICCI survey

Industry upbeat to expand business with IORA, says FICCI survey

New Delhi [India], Mar 3 : The Indian Ocean has been a fulcrum of Indian diplomacy. According to the Government of India, maritime trade accounts for about 75 percent value and more than 90 percent of volume of Indian trade.

Possessing a population of two billion people with nine percent of world GDP, 12 percent of global exports and 18 percent of global investment flows, the IOR region has enormous economic potential to expand and grow.

Ramasita posing as a doctor in Apollo Hospitals and spreading false rumors about former CM's death, arrested

Ramasita posing as a doctor in Apollo Hospitals and spreading false rumors

New Delhi [India], Mar 3 : Apollo Hospitals today confirmed that on 24.02.2017, the Hospital filed a Criminal Complaint against the woman going by the name "Ramasita" who was posing as a doctor in the Hospital and making false and fabricated statements about the Former CM's Death.

"Ramasita" had alleged during a public meeting held recently in R.K. Nagar that she was on duty at the hospital when Late Tamil Nadu Chief Minister was brought to the hospital, and that she was brought dead.

A video recording of her speech was widely circulated on Social Media, TV channels and in News Print. This caused tremendous turmoil, damaged the Hospital's image in the minds of people and considerable distress amongst its patients.

Online partnerships driving growth for FreeCharge; fuel and food categories leading way in offline partnerships

Online partnerships driving growth for FreeCharge; fuel and food categories lead

New Delhi [India], Mar 2 : Amidst increasing digital payments push and awareness amongst consumers, FreeCharge today announced that it is witnessing a major chunk of its transactions coming through online partners.

Nearly 20 percent of the wallet transactions happening on the platform are on either one of the online merchant partners. This is closely followed by offline partnerships wherein fuel and food are the top two categories driving adoption and transaction.

GST to be implemented on July 1: GSTN

GST to be implemented on July 1: GSTN

New Delhi [India], March 2 : The Goods and Services Tax Network (GSTN) will comply with the deadline set by the Ministry of Finance regarding the official implementation of the much-awaited GST Bill scheduled for July 1, 2017.

GSTN CEO Prakash Kumar claimed that all necessary arrangements for timely implementation of the GST have been made.

"The Reserve Bank of India ( RBI) had already approved 30 banks for payment regarding the GST. Apart from these banks, the payment can be made via other banks through the National Electronic Fund Transfer (NEFT) or Real Time Gross Settlement (RTGS)," Kumar told ANI.

Snapdeal, Truecaller partner to make your shopping experience frictionless

Snapdeal, Truecaller partner to make your shopping experience frictionless

New Delhi [India], Mar 2 : India's largest online marketplace Snapdeal has partnered with Truecaller, one of the leading communication apps in the world to enhance consumer experience by integrating Truecaller Priority in the company's IVR and order confirmation numbers.

Customers with Truecaller app installed on their mobiles will be able to easily identify and filter IVR or delivery verification calls when shopping on Snapdeal.

Any calls received by users who have placed an order on Snapdeal, while be clearly marked as 'Snapdeal Order Team' or 'Snapdeal Delivery Team', and color coded in purple; thus, assuring the users that the call is important and from a reliable source, not spam.

Wydr to launch virtual trade fair for wholesalers, retailers in India

Wydr to launch virtual trade fair for wholesalers, retailers in India

New Delhi [India], Mar 2 : E-commerce wholesale app, Wydr, announced the launch of a virtual live trade-fair for wholesalers and retailers across India, as it completes one year of operations.

Wholesalers and manufacturers from across India will get a platform to showcase their product portfolio at the E-Fair, which goes live from March 7 to 9, 2017. It will also enable them to interact live with retailers and other bulk buyers.

"The USD 400 bn Indian Wholesale segment is seeing a huge shift to online sales. By bringing to India the first of its kind online trade exhibition for independent retailers, Wydr is changing the way buyers and sellers discover each other," said Devesh Rai, Founder and CEO, Wydr.

Air passenger traffic continues strong growth trajectory; records 20 pct increase: ICRA

Air passenger traffic continues strong growth trajectory; records 20 pct increas

New Delhi [India], Mar 1 : Credit rating agency ICRA on Wednesday said that the December 2016 air passenger traffic in the country stood at 24.3 million, exhibiting a substantial growth of 20 percent over December 2015.

The report further added that during FY2017, the passenger traffic has reported a y-o-y growth of 19 percent, aircraft traffic has grown by 15 percent and cargo traffic has grown by nine percent.

"The passenger growth in December has been primarily driven by significant y-o-y increase in domestic traffic, which constitutes 77 percent of the passenger traffic in the country and has reported a 24 percent y-o-y growth in December 2016 as against 22 percent growth in November 2016," said vice president and sector head for corporate ratings ICRA, Harsh Jagnani.

MAN Trucks India expands reach in Maharashtra with Pune dealership

MAN Trucks India expands reach in Maharashtra with Pune dealership

New Delhi [India], Mar 1 : MAN Trucks India Pvt. Ltd. a 100 percent subsidiary of MAN Truck and Bus AG, Germany, the world's leading manufacturer of trucks and buses in association with M/s Bhagyodaya Automotive, today inaugurated a new state of the art dealership for its commercial vehicle brand in Pune.

The new dealership is spread over an area of 55000 sqft and is equipped with state-of-the-art equipment, eight service bays and sophisticated infrastructure.

Droom unveils five new categories to woo buyers

Droom unveils five new categories to woo buyers

New Delhi [India], Mar 1 : India's pioneering online automobile transactional marketplace Droom has announced its latest offering in the form of five categories namely 'Mint vehicles,' 'VIP numbers', 'Odd-Even numbers', 'Hard-To-Find' and 'Old-Is-Gold', which cater to a wide spectrum of exclusive customer desires which might sometimes be just the element that makes your vehicle transcend from good to exceptional.

Vehicles belonging to the Mint Vehicles category are in actuality used vehicles which are in pristine, almost brand-new condition. Supercars and superbikes, doctor-driven vehicles, motorcycles etc. which, are in a condition that is equal, if not better than, any new vehicle are offered to the buyers.

Adda52.com unveils new software upgrade for enhanced game play

Adda52.com unveils new software upgrade for enhanced game play

New Delhi [India], Mar 1 : The largest poker site in India, Adda52.com, has upped the stakes in the online poker world by bringing forth its upgraded poker platform with a plethora of new and advanced features. The poker site now features the desktop version 3.0 software that promises an enhanced game lobby with a refreshing design.

The UI of the desktop browser had moved from a flash based software to HTML in 2015 and now, the site is once again improving the software by migrating to Angular JS. Adda52 3.0 brings many benefits to the players from the lobby itself and here are some of the key features.

RBI releases 'Quarterly Statistics on Deposits, Credit of Scheduled Commercial Banks for December 2016'

RBI releases 'Quarterly Statistics on Deposits, Credit of Scheduled Commercial

New Delhi [India], Mar 1 : The Reserve Bank of India ( RBI) on Wednesday released its quarterly statistics on Deposits and Credit of Scheduled Commercial Banks (SCBs) as on December 31, 2016.

On a year-on-year (y-o-y) basis, aggregate deposits grew at an accelerated

pace in all population groups (except in metropolitan areas) and for all bank groups; on the other hand, however, bank credit decelerated across all population groups and bank groups.

Term deposits constituted the highest share in aggregate deposits in all population groups, except in rural areas where savings deposits (53.4 percent) recorded the major share.

Metropolitan bank branches continued to contribute the largest share of aggregate deposits (51.6 percent) and total bank credit (65.6 percent).

GDP estimates imply minimal impact of demonetization, says SBI report

GDP estimates imply minimal impact of demonetization, says SBI report

New Delhi [India], Mar 1 : The State Bank of India's Economic Research Department in its report on GDP estimates noted that the Q3 FY17 estimates are crucial in the sense that it should have given the impact of what happened in the economy during those two months of demonetization.

The report further added that despite the upward revision of Q1 FY16 and Q2 FY16, the GDP estimates for Q1 FY17 and Q2 FY17 have been revised upwards indicating improvement in economic activity in first half of current fiscal.

Lower than expected levels of domestic production to sustain sugar prices at high levels, says ICRA

Lower than expected levels of domestic production to sustain sugar prices at hig

New Delhi [India], Feb 28 : Credit rating agency ICRA expects the domestic sugar prices to remain firm in the near term, given the deficit situation in the domestic and international markets.

The agency in its report says that the moderate cane price increase seen for the current sugar year across most states, augurs well for profitability in the near-term.

"With recent Government estimates pegging a more than 15 percent decline in the sugar production for SY2017 as compared to last year, sugar prices are likely to remain firm over the next two to three quarters," said head Corporate Ratings ICRA, Sabyasachi Majumdar.

Platinum Jewelry sparkles at the 89th Annual Academy Awards

Platinum Jewelry sparkles at the 89th Annual Academy Awards

New Delhi [India], Feb 28 : The world's most elegant and notable celebrities sparkled in platinum jewelry at the "89th Annual Academy Awards" and related parties this evening. Large diamond stud earrings, cuff bracelets and cocktail rings were the top platinum jewelry trends on the red carpet.

Platinum Guild International is pleased to share that leading red carpet jewelry brands such as Lorraine Schwartz, Neil Lane, Tiffany and Co., Harry Winston, Chopard and Fred Leighton chose to style A-list celebrities in rare and enduring platinum.

The following stars chose to wear platinum jewelry to celebrate their achievements:

Hailee Steinfeld in Platinum by Neil Lane

-Wearing USD 750,000 worth of platinum jewelry

-Stud earrings with diamonds (10 carats), set in platinum

Forever 21 expands national footprint with its 15th store in India

Forever 21 expands national footprint with its 15th store in India

New Delhi [India], Feb 28 : Forever 21, a leading fast fashion brand from Aditya Birla Fashion and Retail Ltd. strengthens its foothold in Mumbai with the launch of its 4th store, taking the total count to 15 stores in India.

The brand has gained immense popularity among the young and fashion conscious consumers and is bullish on retaining its position as the most preferred fashion destination.

Koenig becomes India's first authorized training provider and channel partner of ISACA

Koenig becomes India's first authorized training provider and channel partner

New Delhi [India], Feb 28 : Koenig Solutions, the leading IT training organization serving a global clientele for technical skill development, recently became ISACA Authorized Training Partner.

This means that Koenig Solutions Pvt. Ltd. is now officially authorized to run cyber-security courses to cater to the booming industry.

Koenig is now officially approved and authorized channel partner to run courses of cyber-security offered by ISACA's CSX.

Network security has attained unparalleled importance with the rise of new technologies and increase in usage of connected devices. With this has also come the threat of hacking and other forms of cyber-attacks, and the result is the need for cyber-security connoisseurs.

PDM University collaborates with IBM Corporation

PDM University collaborates with IBM Corporation

New Delhi [India], Feb 28 : One of the premier hubs of education in Bahadurgarh, (Delhi-NCR), PDM University has collaborated with multinational technology company, IBM Corporation through its IBM Career Education program to introduce and launch co-branded specialized engineering and management programs.

The joint initiative is aimed to make students from the university employment ready when they graduate.

A Memorandum of Understanding (MoU) has been signed between IBM and PDM University, in this regard with a aim to build skills in the area of cloud computing and big data analytics and develop sufficient industry needed skills for manpower on cloud computing, big data and analytics.

Jaypee Group inks MoU with Kazakhstan's export and investment agency Kaznex Invest

Jaypee Group inks MoU with Kazakhstan's export and investment agency Kaznex

New Delhi [India], Feb.28 : Noida, Uttar Pradesh-based infrastructure and energy-based conglomerate -- The Jaypee Group - has signed a Memorandum of Understanding (MoU) with Kazakhstan's national agency for export and investment KAZNEX INVEST this week for collaboration in several areas of mutual interest.

An Embassy of Kazakhstan release said the MoU was signed during the visit of a delegation of the Jaypee Group led by Managing Director Sunny Gaur and other key officials such as D.P. Goyal, the group director in charge of the company's power division.

American Express launches 'Buyer Initiated Payments' to eliminate cheque, draft payments

American Express launches 'Buyer Initiated Payments' to eliminate cheque

New Delhi [India], Feb 27 : Global leader in payment solutions American Express on Monday announced the launch of Buyer Initiated Payments (BIP), an electronic payment platform linked to corporate card that reduces processing costs and offers extended payment terms compared to traditional invoice payments.

BIP enables companies to increase the Days Payable Outstanding ( DPO) while still paying vendors on time. This web-based tool linked to Corporate Card fits and works within existing processes and includes reconciliation reporting that simplifies tracking vendor payments. BIP also helps organizations and their vendors to participate in the trading cycle digitally thus avoiding payments through cheques and drafts.




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