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Friday, April 22, 2016

Apr 22, 2016 - Ujjivan expects modest growth on way to becoming a small bank

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
What are Facebook's ambitions? This Economist article takes a stab at this question. Facebook has become more like a holding company for popular communications platforms than a social network. But even that description understates Mr Zuckerberg's ambitions. He is making big bets on the future of communication, mainly messaging services, artificial intelligence and virtual reality. "There were three existential threats to Facebook: WhatsApp, Instagram and Snapchat," says Jeremy Philips of Spark Capital, a venture-capital firm. "Zuckerberg bought two of them for a little more than 10% of Facebook's market cap." Aside from the blockbuster acquisitions a little-noticed deal has also proved shrewd. Facebook's bought Onavo, an Israeli startup involved in mobile analytics, for a rumoured $120m in 2013. Onavo helps Facebook track which apps are becoming popular and could be worth purchasing - Comment

Ujjivan expects modest growth on way to becoming a small bank

The company will be focusing on growing its individual loan portfolios, mainly the micro SME funding and the housing segment.




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1/2/3 BHK apartments, starting from Rs 35 Lacs.

 

Property Listing: Godrej Infinity, Keshav Nagar, Pune
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Luxury 2/3 BHK apartments, from Rs 38 Lacs - Rs 92 Lacs.

 


Investors can expect flurry of share buybacks from cash-rich firms

Though retail investors may face some issues with buybacks, large investors would be happy with the buybacks as they save on taxes.



Blackstone planning to exit Sonalika Tractors partially by selling shares

Sonalika International Tractors Ltd, backed by the New York-headquartered investment firm, is looking to raise as much as Rs 2,000 crore through an Initial Public Offering (IPO).



Banks classify Bhushan Steel loans as non-performing assets

With debt of more than Rs40,000 crore, Bhushan Steel has been among the larger stressed accounts for banks



Why Equitas valuation better than existing NBFC's?

Unlike SKS which is a pure play micro-finance company Equitas has a diversified portfolio which includes vehicle financing, MSME financing and home loans.



Vodafone invites banks to pitch for India initial public offer mandate

Vodafone Group has set the ball rolling for its long-awaited India IPO by inviting banks, including Citigroup, Goldman Sachs and Morgan Stanley, to submit pitches to manage it, people with direct kno



Matrix Partners raises $110-112 million as part of its second fund

The fund would close at around $400 million by the second half of 2017 and would be dedicated to new investments



Current valuations do not alter the India opportunity: Deepak Shahdadpuri

The DSG Consumer Partners founder and MD investment says good firms always have an eye on the cash balance while looking to build a product and launch a business



Govt sets up panel to lay out plan for doubling farm incomes

Panel aims to find ways to diversify risks in farming, examine how integrated farming can boost incomes



Three more Housing.com co-founders decide to quit

Abhishek Anand, Ravish Naresh and Sanat Ghosh, co-founders of real estate portal Housing.com, quit the company two weeks ago to start their own venture



India to become $10 trillion economy by 2032: Amitabh Kant

To shift from the ideation stage to implementation on the eight themes with apple linkages with sustainable development goals for growth with equity and employment generation and poverty reduction as focus points.



Big banks can breathe easy ahead of Q4 results

Banking shares rallied sharply on Thursday with State Bank of India, ICICI Bank and Axis Bank climbing as much as 8%.



RBI allows NBFC sponsored infra debt funds to raise money via short-term bonds

The move could bring down cost of borrowing for infrastructure debt funds



Government working wholeheartedly to revive economy: Minister

New Delhi, April 21 (IANS) Union Minister for Communications and Information Technology Ravi Shankar Prasad on Thursday said the government was "wholeheartedly" working towards reviving the economy.



Need level-playing field for high frequency trades, Sebi tells brokers

The move would help investors as the procedure for brokers is same with regard to equities and commodity derivative trading activities.



RBI permits IDFs to issue less than 5-year tenure bonds

RBI today allowed Infrastructure Debt Fund (IDF) to raise resources through bonds and commercial papers of less than five-year maturity.



Finance Ministry looks to expedite clearances to FDI proposals

Finance Ministry looks to expedite clearances to FDI proposals - FDI into the country increased by 40% to USD 29.44 billion during April-December of 2015-16.



Indusind Bank goes online for loan disbursals; expects auto and construction to fuel lending

Consumer loans including vehicle loans now consist 44% of IndusInds loan book up from 41% in March 2015. Sobti said the bank will ensure that the corporate to retail loan ratio is 50-50.



Banks cannot seek details about my foreign assets: Vijay Mallya

Vijay Mallya offers Rs1,590 crore to Supreme Court as intent to pay debt



UK ready to buy 25% stake in Tata Steel assets

British govt willing to offer support worth millions of pounds to potential buyers of the steel maker’s UK assets



Economic reforms will make India a global manufacturer: Singapore Minister Goh Chok Tong

In support of Make in India campaign, India should boldly venture beyond and strive to be a " global manufacturer", Goh Chok Tong said



SoftBank investors call for internal probe of Nikesh Arora

SoftBank denies that Nikesh Arora has done anything wrong, calls the letter ‘unsubstantiated allegations’ from ‘unidentified shareholders’



Tech-driven logistics firm Rivigo on road to be largest platform by 2020

Backed by sound technology and innovation, 18-month-old logistic company Rivigo is eye


Mother Dairy retains prices; raises payout to farmers by Rs 2 per litre

Mother Dairy is also exploring to extend their association with cricket tournament organised by Delhi Daredevils in Delhi schools, both private and government-run.


After Delhi, H&M and Zara to fight it out in Mumbai

H&M, the Swedish fashion retailer, has already announced that it will open its maiden stores in Mumbai this autumn while Zara is adding four more stores


Looking to develop retail assets at Delhi airport land: GMR

In a regulatory filing, GMR Infrastructure said DIAL has initiated a two-stage international competitive bidding process for "development of retail as..


Put down the phone, that hoax call is not funny
Put down the phone,  that hoax call is not funny - India Today
A Mumbai-bound Jet Airways flight was grounded at Ahmedabad’s Sardar Patel International Airport on Wednesday morning following a bomb threat.



Indian telecom, allied services industry to generate 10 lakh jobs in 3 years: India Skills Report 2016
Indian telecom, allied  services industry to generate 10 lakh jobs in 3 years: India Skills Report 2016 - ETTelecom.com
The India Skills Report 2016 is a result of a joint initiative of PeopleStrong, Wheebox, in collaboration with Confederation of Indian Industry, Linke..



Google abused mobile app market with Andriod: EU
Google abused mobile  app market with Andriod: EU - Times of India
The stakes are higher in the Android case for Google which made about $11 billion from ad sales on Android phones with Google apps such as Maps, Search and Gmail last year.



After WhatsApp, Viber Also Encrypts User Conversations
After WhatsApp, Viber  Also Encrypts User Conversations - Huffington Post India
NEW DELHI -- Days after WhatsApp introduced the long awaited end-to-end encryption to all users, instant messaging and Voice over IP (VoIP) app for smartphones, Viber has also decided to encrypt user



Mobile Accounts for Rising Share of Ad Spend in India
Mobile Accounts for  Rising Share of Ad Spend in India - eMarketer
eMarketer estimates that about a quarter of digital ad spending in India will be mobile this year. Other estimates are less bullish on mobile’s share of the total, but more positive about overall spending levels.



Chinese investors like Tencent, Cheetah Mobile and Baidu look to fund India's internet companies
Chinese investors like  Tencent, Cheetah Mobile and Baidu look to fund India's internet companies - ETtech.com
Chinese firms are dragging potential funding into companies until they can see the kind of sales growth that can fuel their ambitious expectations, th..



Delhi HC restrains Snapdeal's arm Unicommerce from using data derived from sellers on Paytm

The court also directed Unicommerce to pull down its YouTube advertisement and/or modify it to remove the Paytm logo.


Flipkart-owned Myntra all set to diversify into home furnishing, personal care segment

Myntra had restricted its presence to apparel and accessories, but will now take on focused players in the space such as Urban Ladder, Pepperfry, Nykaa and Bluestone.


Nazara Games acquires 26% stake in Mastermind Sports; looks to create and publish games developed in the sports category

Mobile game publisher and developer Nazara Games has acquired a 26% stake Mastermind Sports, the company confirmed to MediaNama. Through this investment, Nazara


Department of Industrial Policy and Promotion asks the online supermarket Big Basket to offer more clarity on its model

Big Basket's e-commerce model under FDI scanner - Department of Industrial Policy and Promotion has asked the online supermarket to offer more clarity on its model


LogiNext to cater blended orders across e-commerce, food delivery, grocery products

Considered a pain point for large delivery companies as well, last-mile delivery has seen multiple players emerge over the last year.


Google looking at other big bets apart from Search to grow further

A Google empire built on search shifted attention on Thursday to high-speed Internet networks, 360-degree video broadcasting and "other bets" as parent company Alphabet logged disappointing earnings.



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