Business News

SBI, CREDAI sign MOU towards development of Real Estate Sector

SBI, CREDAI sign MOU towards development of Real Estate Sector

New Delhi [India], Mar. 16 : The State Bank of India (SBI) and the Confederation of Real Estate Developers' Associations of India (CREDAI) on Wednesday inked a Memorandum of Understanding (MOU) to jointly conduct various initiatives towards the development of the Real Estate Sector for a period of three years.

SBI and CREDAI have a common objective of providing housing for all.

Each of them will leverage their individual strengths and collaborate in areas which will be beneficial to the sector and the consumers at large.

The MOU was exchanged between Rajnish Kumar, Managing Director SBI and Geetambar Anand, President CREDAI at the CREDAI National Conclave held in Delhi on March 6 and March 7.

Union Minister Venkaiah Naidu was also present for the occasion.

LG's #KarSalaam initiative achieves a 'Guinness World Records' title

LG's #KarSalaam initiative achieves a 'Guinness World Records' title

New Delhi [India], Mar 15 : LG creates a 'Guinness World Records'® feat for its #KarSalaam initiative launched at the start of this year. The initiative involved the whole nation to come forward and send in their good wishes to the Indian Armed Forces for their undying spirit of bravery.

With this campaign, LG breaks the Guinness World Records by getting more than 114741 handwritten messages from the Indian citizens.

Through this initiative, LG salutes the soldiers' spirit of generous contribution and service towards the nation. The company aims to stand in gratitude for the Indian Armed Forces for assuring that we lead a fearless and safe life in this country while they protect our borders.

OLX releases new brand campaign; urges India to take six-month break-up challenge

OLX releases new brand campaign; urges India to take six-month break-up challeng

New Delhi [India], Mar 15 : OLX, India's number one classifieds announced the launch of its latest brand campaign today that has gone live on television and digital, and will be amplified across radio, social media, and out-of-home in the coming weeks.

The campaign, known as the 'Six Months Break-Up Challenge' urges people to sell pre-owned goods that they haven't used for at least 6 months. The campaign is based on the insights gathered from CRUST (Consumer Research on Used-Goods and Selling Trends), OLX's annual consumer survey to understand user behaviour towards used goods, as well as other consumer trends.

A Campaign Derived Research Insights:

Inflation soars to 3.65 per cent in February

Inflation soars to 3.65 per cent in February

New Delhi [India], Mar. 15 : Retail inflation rose to a four-month high of 3.65 per cent in February this year, mainly due to an increase in the prices of food items.

Inflation measured in terms of the Consumer Price Index had stood at 3.17 per cent in January this year. Retail inflation was 5.26 per cent in February last year.

According to data released by the Central Statistics Office, retail inflation in food items rose to 2.01 per cent in February, from 0.61 per cent in January.

But prices of vegetables declined by 8.29 percent and of pulses by 9.02 per cent.

The increase in prices may weaken the case for an immediate interest rate cut by the RBI, which had kept lending rates unchanged at the last review in February, citing risks to inflation. (ANI)

India Innovation Growth Programme (IIGP) 2.0 to support Industrial and Social Innovations

India Innovation Growth Programme (IIGP) 2.0 to support Industrial and Social

New Delhi [India], Mar 14 : Strengthening its commitment to foster innovation and entrepreneurship, the Department of Science and Technology launched the India Innovation Growth Programme 2.0 on Saturday.

The programme has been running since 2007 with the support of Lockheed Martin Corporation and has supported close to 500 innovators, start-ups, creating an economic value of approx. USD 900 million.

The programme has been administered by the Indo-US Science and Technology Forum and implemented by the Federation of Indian Chambers of Commerce and Industry (FICCI).

Through a wide outreach campaign undertaken by FICCI over the last 10

Sales leader appointed to head up Alcatel-Lucent Enterprise APAC Sales

Sales leader appointed to head up Alcatel-Lucent Enterprise APAC Sales

New Delhi [India], Mar 14 : ALE, operating under the Alcatel-Lucent Enterprise brand, today announced the expansion of its senior leadership team in Asia Pacific, a key region for the company, with the appointment of Pierre Samson as Vice President of Sales. Pierre will assume his role effective immediately and will be based from Singapore. He will report to Matthieu Destot, Executive Vice President, Global Sales and Marketing, ALE.

Pierre has over 12 years of experience in the industry and has held senior leadership positions as Head of the Unified Communication and Collaboration Business Unit for Large Accounts at Orange Business Services and most recently as Chief Operating Officer and Chief Sales Officer at Lexsi, a cyber security specialist which was acquired by Orange in 2016.

Air Freight Bazaar launches services globally; aims at meeting all needs

Air Freight Bazaar launches services globally; aims at meeting all needs

New Delhi [India], Mar 14 : India's first global Air Cargo aggregator platform Air Freight Bazaar has announced the launch of its services in India here today.

The platform is world's first air freight aggregator that provides freight forwarding rates and information related to the overall air cargo industry in real-time. Air Freight Bazaar's unique, single, global platform aims at addressing all the needs and requirements of the air cargo Industry bringing transparency, simplicity and efficiency into the process.

BSA appoints Venkatesh Krishnamoorthy as Country Manager

BSA appoints Venkatesh Krishnamoorthy as Country Manager

New Delhi [India], Mar 14 : The Software Alliance BSA on Tuesday announced the appointment of Venkatesh Krishnamoorthy as its Country Manager, India.

Venkatesh will lead all BSA activity in India with initiatives aimed at furthering BSA's policy priorities relating to software, managing software licensing compliance programs, and related enforcement strategies.

As Country Manager for India, Venkatesh will work closely with BSA

members to invest in areas that promote the continued progress of technology innovation so that India can capitalize on the opportunities of both today and tomorrow.

February WPI inflation rises 6.55 percent against 5.25 percent

February WPI inflation rises 6.55 percent against 5.25 percent

New Delhi [India], Mar 14 : The Wholesale Price Index (WPI) or inflation for the month of February rose by 0.5 percent to 185.5 (provisional) from 184.6 (provisional) for the previous month.

The annual rate of inflation, based on monthly WPI, stood at 6.55 percent (provisional) for the month of February, 2017 (over February, 2016) as compared to 5.25 percent (provisional) for the previous month and -0.85 percent during the corresponding month of the previous year.

Primary articles index rose by 0.9 percent to 258.1 (provisional) from 255.7 (provisional) for the previous month.

SBI announces 'SBI Infra Management Solutions' for estate matters

SBI announces 'SBI Infra Management Solutions' for estate matters

New Delhi [India], Mar 11 : The State Bank of India (SBI) on Saturday announced the incorporation of SBI Infra Management Solutions Pvt. Ltd. (SBIIMS Pvt. Ltd.) - a wholly owned subsidiary of SBI to manage premises and estate related matters of SBI.

The new subsidiary will be responsible for handling transaction management or advisory services, project management, facility management and implementation of policies and initiatives.

The decision to incorporate separate entity is implemented to save time of banks' executives who were involved in managing this non-core business so that these executives can instead focus on core Banking Services.

Mother Dairy to hike prices for Delhi NCR from today

Mother Dairy to hike prices for Delhi NCR from today

New Delhi [India], Mar 11 : Mother Dairy has announced price hike of all its variants in the Delhi NCR region with effect from today, i.e. March 11.

The milk manufacturer has announced the hike for its poly pack milk variants and bulk vended milk ( BVM) commonly referred as Token Milk.

The last consumer price revision in Delhi NCR for poly pack milk was taken in July 2016. Since then the consumer milk prices have been retained despite significant increase in raw milk purchase prices.

The milk prices which in a normal year comes down during winter months have gone up substantially. It is important to note that Mother Dairy has increased its farm prices by about Rs. 2.5 to Rs. 3/kg over July and compared to last year the prices are up by Rs. 5 to Rs. 6/kg.

Paytm to introduce new features to prevent credit card misuse in add money

Paytm to introduce new features to prevent credit card misuse in add money

New Delhi [India], Mar 10 : Paytm has announced that it is going to introduce new features to prevent the misuse of credit cards in adding money to the Paytm Wallet.

The company in a statement said that millions of customers and merchants have adopted Paytm as a part of their everyday life that includes paying at offline stores, shopping for groceries, paying for travel and paying their utility bills.

Opteamix recognized as a 'Dream Company' to work for by World HRD Congress

Opteamix recognized as a 'Dream Company' to work for by World HRD Congress

New Delhi [India], Mar 10 : Opteamix LLC (Opteamix), a global technology firm, today announced that they have been recognized by World HRD Congress as one of the Dream Companies to Work for in 2017.

Opteamix was ranked 46th in this category which hadover750 companies from multiple industries across India. In addition to the Dream Company ranking, Opteamix was also recognized and ranked 8thfor"Innovative HR Practices" and 3rdin the category of "Corporate Social Responsibility Practices."

Opteamix was awarded these three prestigious awards at the 25thWorld HRD Congress that was presented in association with Times Ascent in Mumbai on February 15, 2017.

Dharmesh Arora appointed as new Managing Director, FAG Bearings India

Dharmesh Arora appointed as new Managing Director, FAG Bearings India

New Delhi [India], Mar. 10 : Dharmesh Arora, who is currently the President and CEO of the Schaeffler Group in India (parent company of FAG Bearings India Ltd), has taken charge as the Managing Director of FAG Bearings India Limited, effective March 6, 2017. He will also continue to be the Managing Director of INA Bearings India Pvt Ltd, another group company of Schaeffler in India.

"Arora is a veteran of Automotive Industry having worked with Maruti Suzuki, General Motors and with Schaeffler Group in various leadership positions across geographic regions of the world. We welcome him to this new position to steer the organization to greater heights," said Avinash Gandhi, Chairman of FAG Bearings India Ltd.

India, Belgium sign protocol enabling mutual assistance in collection of taxes

India, Belgium sign protocol enabling mutual assistance in collection of taxes

New Delhi [India], Mar. 10 : In order to strengthen the Centre's fight against the menace of black money stashed in offshore accounts, India and Belgium have signed a Protocol amending the existing agreement and protocol between the two countries for Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income.

The protocol was signed by Chairman Central Board of Direct Taxes (CBDT) Sushil Chandra and Ambassador of Belgium to India Jan Luykx.

The protocol will broaden the scope of the existing framework of exchange of tax related information. This in turn will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes.

Current account deficit to widen to USD 30 billion in FY2018, says ICRA

Current account deficit to widen to USD 30 billion in FY2018, says ICRA

New Delhi [India], Mar 9 : Credit rating agency ICRA in its report noted that it expects higher oil and gold imports to enlarge India's current account deficit to ~USD 30 billion (1.2 percent of GDP) in FY2018 from ~USD 20 billion in FY2017 (0.9 percent of GDP), arresting the trend of moderation recorded for four consecutive years since FY2014. However, the pressure related to the financing of a larger current account deficit would abate with the resumption of NRI deposits in FY2018.

Betting big on Geo Analytics; Jugnoo reveals its secret tool of success 'Data Loops'

Betting big on Geo Analytics; Jugnoo reveals its secret tool of success

New Delhi [India], Mar 9 : Enthused by the profitable and effective tryst with 'Data Loops', Jugnoo unveils this best in breed technology for its fellow business owners and marketers. Primarily a Geo Analytics technology, 'Data Loops' is a terminology used for a continuous, iterative process of capturing and analyzing data, getting valuable insights, translating into action items and 'looping' the process all over again.

It is a Software Development Kit (SDK) and interested businesses can avail this service through Tookan, a B2B product from Jugnoo.

Alibaba's UCWeb enhances focus on content; launches 'We-Media Reward Plan 2.0'

Alibaba's UCWeb enhances focus on content; launches 'We-Media Reward Plan 2.0'

New Delhi [India], Mar 9 : Leading the user-generated content ecosystem in India, Alibaba Group's UCWeb Inc has announced the launch of We-Media Reward Plan 2.0, a self-creating content platform in India with an initial investment of 50 Million INR. The internet major is investing 2 Billion INR for driving content distribution in India over the next 2 years. UCWeb's content distribution platform UC News, launched in June 2016, has registered a new milestone by becoming one of the fastest growing apps in the country with a Monthly Active Users (MAUs) of over 80 Million in India (as of February 2017).

Ashiana Dwarka honored as "Budget Apartment Project of the Year"

Ashiana Dwarka honored as "Budget Apartment Project of the Year"

New Delhi [India], Mar 9 : Ashiana Housing Ltd., one of the renowned real estate developers in India, bags another accolade in its kitty.

Ashiana Dwarka, the 8.8 acre project situated in Jodhpur has been declared as " Budget Apartment Project of the Year" in Tier two cities by NDTV Property Awards, one of the most coveted real estate accolades.

GST Bill likely to be tabled before Cabinet on March 22

GST Bill likely to be tabled before Cabinet on March 22

New Delhi [India], Mar 8 : Maintaining the tempo for the much-awaited Goods and Services Tax (GST) against the backdrop of the crucial Uttar Pradesh Assembly elections, sources in the Finance Ministry on Wednesday said the bill will be presented before the Cabinet on March 22.

The government, which is leaving no stone unturned to lose its sight on the biggest tax reform, has said that the Central GST Law, Integrated GST Law, State GST Law and Union Territory GST and Compensation Law will be put together for the Cabinet's approval on March 22.

However, the Finance Ministry has said that it will table the CGST, IGST and Compensation Law before the Parliament on March 27.




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