Feb 26, 2016 - Vedanta, Hindalco to continue with cost rationalization

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Sree Vijaykumar From the Editor's Desk For all those wondering what all this blabbering about machines taking over humans is about, here's a rather long, but valuable primer on why Artificial Intelligence is something that deserves more of our attention. 3 fundamental points: Human progress has been exponential (think of the time durations between stone age to industrialization to the internet). It's about to get crazy exponential as we get closer to mimicking the human brain (some estimates say by 2030). With hardware (the limitation when it comes to the human brain) becoming cheaper faster and faster, along with self-learning software that becomes exponentially smarter, we are moving from ANI (Artificial Narrow Intelligence, eg: Siri, Google Search, the landing system on your flight) to AGI (Artificial General Intelligence - when computers have all-round intelligence like humans). This jump from ANI to AGI is tricky, and requires a significant increase in computational power. But again, exponential growth means AGI could creep in on us sooner than we think - Comment Vedanta, Hindalco to continue with cost rationalization India’s biggest producer of aluminium Vedanta has already gone in for job cuts Advt: Vivafit is seeking to appoint franchisee partners in all major cities & towns in South India. Vivafit is the European leader in women-only fitness with a mission to help women lead healthier lifestyles through exercise & nutrition.   Bad loans: Banks will need deep, preventive surgery? Banks have been witnessing the rise of bad loans to the above-danger mark for a while- and they are likely to stay at that level for some more time. Bank of India’s accounting change saves over Rs 1,000 crore A small change in the accounting practice — which is within the rules — helped Bank of India save over Rs 1,100 crore in the third quarter. Indian Railways: faith-based budgeting The highlight of railways budget is the scaling up of capital expenditure to Rs1.2 trillion for the next fiscal year, which is commendable, but believing the big numbers requires a leap of faith RBI gives banks more time to exit SDR assets Banks can upgrade an asset to the standard asset category if they divest at least 26% of the stake to the new promoter within 18 months Times Internet partners with Investopedia to deliver trusted financial content to India These initiatives will reinforce Investopedias status as the worlds largest financial educational website in India leveraging Times Internets 150 million monthly unique users. Sebi relaxes mutual fund norms on unclaimed investor money The money from unclaimed redemptions and dividends was allowed to be parked only in call money market or money market instruments Sensex set for worst year-to-budget slide since 2007 Railway budget failed to cheer market participants, whose sights are trained on Monday’s Union budget Inditrade to scale up operations in agri financing Sudip Bandyopadhyay, the new promoter of the company, said there is huge opportunity in lending against agri commodities. Reliance Capital to transfer commercial finance business into separate firm Reliance Capital today said it will transfer its commercial finance division into a separate company to unlock the value through stake sale. RBI warns banks: ensure promoters don’t buy back seized assets Concerns arise of promoters using shell entities to buy back assets seized by banks at much lower prices Resonance Eduventures delays IPO; PE investors eye stake sale Private equity funds look to sell stakes in Kota-based coaching and tutoring firm in Rs500 crore secondary transaction Engie to sell stake in Meenakshi plant Engie will sell its majority stake in the 1,000 MW Meenakshi Energy thermal plant in Andhra Pradesh to India Power Corp. Ltd RBI to buy Rs12,000 crore of government bonds Amid rising bond yields, RBI to infuse liquidity via OMO liquidity infusion Anti-corruption law for private banks too: SC In a significant judgment expanding the scope of the Prevention of Corruption Act, the Supreme Court on Tuesday brought all private bank employees within the ambit of the anti-graft law, which had so far been applied only against corrupt government officials. Protesting Snapdeal employees approach labour department Snapdeal employees intensified their protest by moving a plea to the labour department to intervene in the matter and help them get their jobs back. Etail giants like Snapdeal, Amazon lose market share in 2015; small etailers emerge as real winners While Flipkart maintained its No. 1 slot and increased its share, the combined market share of Indias top three ecomm cos fell. Kishore Biyani, Hong Kong-based billionaire shelve JV plans Plans shelved as there was little interest by Chinese wholesalers/exporters to participate in the trading model Amazon India on hiring spree as it looks to consolidate its gains Amazon has hired former Citibanker Sriraman Jagannathan to lead its payments business, according to two people privy to the development. LeEco to foray into TV segment, to commence sales through brick-and-mortar stores Print Live Your local store can give you a multi-million valuation, learn from Magicpin There is an app called Magicpin that is luring students, in Delhi University, to take endless number of selfies. The precise number is 4,00,000 selfies, wh Google India launches AMP for faster web access on mobiles Technology giant Google has rolled out a new open source initiative, Accelerated Mobile Pages that will allow web pages on mobile phones. 4G handset queries up 200% in India in 2015: Google's report According to a report with the coming of 4G services, there was a massive 200% spike in searches for devices compliant with the high speed data network in 2015 Better opportunities ahead in India: Huawei The company, however, has not decided if it will also start manufacturing of mobile handsets in the country even as it aims to have a huge growth in s.. Vodafone, Airtel, China Mobile, SoftBank partner for 5G In India, Bharti Airtel has launched 4G service on both the technologies. Reliance Jio Infocomm too has spectrum to deliver 4G services using both these technology but it is yet to launch its services. Aircel and State-run BSNL have launched 4G service on small scale using TD LTE technology. Mobile growth shaping India's internet usage: Google India report With over 200 Million mobile internet users in the country, mobile captured 60% share of all shopping related queries and over 50% share of all travel.. Government distances Make in India from Freedom 251 The government has clarified that its Make in India initiative does not back or support Freedom 251, the world's cheapest smartphone launched on Febru.. Norwegian telecom firm Telenor to launch 4G in India within 6 months Norwegian telecom firm Telenor on Tuesday said it will launch 4G services in 5-8 cities in India within 6 months and is in talks with other operators to increase its spectrum holding through trading. Government stand on internet calls after Trai submission Trai this month issued a regulation which bars telecom operators from levying discriminatory tariffs based on content and service accessed using Internet. Trai wants Aadhar cards must for new mobile connections Trai has put forth recommendations to the Department of Telecom (DoT) to allow electronic KYC of Aadhaar as one of the valid documents for getting a new mobile connection. Saurabh Srivastava quits as chief marketing officer at Jabong in less than five months of joining the online fashion portal Saurabh Srivastava has quit as chief marketing officer at Jabong in less than five months of joining the online fashion portal. After cofounder Mukesh Bansal, Myntra's finance head Prabhakar Sunder quits Sunder's exit comes soon after Mukesh Bansal, head of commerce at Flipkart and cofounder of Myntra, announced his plans to leave the firm. Flipkart to spend more on technology, to increase tech team headcount by 50% As Flipkart goes into overdrive to improve online experience, it is also looking to leverage newer technologies such as big data and machine learning. Will Digital India be a $1-trillion business opportunity? The Modi government, Prasad said, is building a robust broadband infrastructure for digital delivery of services, including e-education and ehealth. Indian IT services sector results confirm signs of slowdown While the expectations were running low, the actual performance turned out to be even weaker India's ibibo group raises $250 million in travel startup funding Each week we create a roundup of travel startups that have received or announced funding that week. The total amount raised this week was $280.6 million. H How India's 163-year-old railways is using technology to modernise itself? ​Here's a glaince into all technology-related announcements made in the Budget 2016. Microsoft acquires software tools company Xamarin to expand mobile presence Microsoft has acquired Xamarin which works towards creating software tools for making mobile apps for Android, iOS and Windows platforms. TradeBriefs Publications are read by over 10,00,000 Industry Executives India Business Brief | India Retail News | India Food Brief | India Telecom Brief | India Finance Brief | India Software Brief | India Digital Brief | India Ecommerce Brief | India Franchise Brief | India HR Brief | India Logistics Brief | India Construction Brief About Us  |  Advertise Privacy Policy    Unsubscribe You are receiving this mail because of your subscription with TradeBriefs. Our mailing address is GF 25/39, West Patel Nagar, New Delhi 110008, India