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Thursday, February 23, 2017

Feb 23, 2017 - Is it time for RBI to go for a rate hike?

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
China has overtaken the United States to become the world leader in deep learning research, a branch of artificial intelligence (AI) inspired by the human brain. Deep learning algorithms are modeled on biological neural networks and enable machines to learn and mimic human-like responses. They're rapidly becoming part of everyday life. Think: smartphone assistants answering your questions, or Amazon recommending products based on your search and purchasing history. The White House has released two reports that aim to help prepare the US for the growing role of artificial intelligence in society. The National Artificial Intelligence Research and Development Strategic Plan lays out the strategy for AI funding and development in the US. It shows that since mid-2013 China has been contributing more journal articles to the field of deep learning research and has more studies cited by other researchers than the US. Interesting! More here.

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Is it time for RBI to go for a rate hike?

The ingredients are all there—a stubborn inflation, likely US Fed interest rate hike, rising commodity prices. But will RBI’s monetary policy committee take the plunge?

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How Flipkart got back in the game

Sceptics had not long ago written off Flipkart but under Kalyan Krishnamurthy, it has clawed its way back and is now looking at a $1.5 billion fundraising

Banking data leads taxmen to corrupt officers

Banking data gathered post demonetization is being used to launch a crackdown on corrupt bureaucrats. In one such case, an income tax search was conducted on Tuesday on a forest service officer in Odisha who did not file his response to the information uploaded by the department on its website, where bank deposits in his accounts were shown to the tune of Rs 1.48 crore.

NSE said to be redrafting its algorithmic trading policy

NSE has also hired consulting firm EY to audit the systems that facilitate algorithmic trading for stockbrokers

Reliance AIF to raise Rs1,000 crore fund

The new fund—Reliance Yield Opportunity AIF Scheme 1—is targeting to raise Rs250 crore, with a greenshoe option of Rs750 crore

Sheenlac Paints may buy out Jenson and Nicholson’s stake in JV

Sheelnlac Paints CEO Sridhar Krishnamoorthy says may buy out Jenson and Nicholson stake once the joint venture scales revenue to Rs350 crore in 5 years

Private equity firms spot big promise in logistics

Foreign investors, including Chinese, Japanese and Korean, have shown a lot of interest in industrial development projects in the backdrop of implementation of the GST.

Made large cash deposits? Brace for tough income tax scrutiny

As part of Operation Clean Money, income tax department is seeking documents such as bank statements, passbooks, land records to track black money

Indians don't have a private equity mindset, says Viswanatha Prasad

If we go to an Indian HNI they assume it means lower returns for them

Softbank looks to pick up stake in the proposed Vodafone-Idea combine

Among other challenges for the merger are operational and management control of the merged entity, along with the outstanding tax matter of Vodafone, it noted.

DHFL to raise Rs 1,500 crore via NCDs

This is following a special resolution passed by the shareholders of the company at the 32nd Annual General Meeting held on July 20, 2016, it said

SEBI allows MFs more room to invest in housing bonds

While it aids Prime Minister Narendra Modis promise of “Housing for All” by 2022; this should help deepen the market for such debt securities.

Vice said to hire banks to raise fund for scripted programmes

Vice, which already produces a slew of unscripted programmes, plans to distribute shows in more than 80 countries by the end of this year

Digitisation drive to lure venture capital funds in Fintech sector: KPMG

According to KPMG, corporate interest in financial technology (fintech) is also expected to increase in India over the next year.

Low penetration, regulatory push augur well for debt capital market: Icra

Corporate debt grew at a CAGR of 12% during the above period from Rs 14.2 lakh crore as on March 31, 2011 to Rs 27.9 lakh crore as on December 31, 2016.

Venture capital investments in India decline to $216 million in 2016: KPMG

Venture capital investments in India witnessed a significant decline in 2016, with just $216 million in funding, compared to $1.6 billion in the previous year, says a KPMG International report.

SC asks industrial units to set up effluent treatment plants within 3 months

Supreme Court also asked states to construct common effluent treatment plans in three years

Urban Ladder looks at 'sustainable, profitable business' after logging 3x rise in revenues at Rs 56 cr

Online furniture store Urban Ladder is looking at a topline growth of 60% in FY17 to reach Rs 90 crore. For the fiscal ended March 2016, the company had registered a three-fold rise in revenues at Rs 56 crore and a three-fold rise in losses at Rs 175 crore.

Note ban effect: Amazon dials down on Platinum Sellers

Cuts count of mobilephone Platinum Sellers by 70% as sales dip post demonetisation

Midas touch: Retail stocks zoom, ride piggyback D-Mart's impending IPO

D-Mart, promoted by R K Damani, has whipped up a frenzy in the grey market where its shares are quoting at 25-50 per cent premium to the expected IPO price.

Amazon lowers free shipping minimum to match Wal-Mart

Over Presidents Day weekend, Amazon quietly lowered to $35 from $49 the minimum spend required to get free shipping.

Myntra to manage Mango in India; curate 25 retail stores

This is the first time that an e-commerce player will manage the omni-channel strategy for a global fashion brand.

Warehousing and retail realty catch PE firms' fancy

Foreign investors have specifically shown a lot of interest in industrial development projects in the backdrop of implementation of Goods & Services Tax.

Transforming the FMCG experience through augmented reality

The channelized audiences can be presented with a surprising tangible experience, via Augmented Reality, making it an easy task to convert sales for a brand or marketer cutting across a plethora of competitive brands.

H&M plans proper pay structures, worker committees in garment factories by 2018

The clothing firm was aware of the exploitation of workers in the garment industry and was working on several initiatives with its main suppliers to i..

India telecom operators to offer 8.9% salary increase in 2017: Aon Hewitt

Indian telecommunication services providers are expected to offer 8.9 percent increase in annual salary in 2017, said Aon Hewitt India in the 21st edition of its annual Salary Increase Survey. The salary increase in Hi Tech/Information Technology will be 9.7 percent, while the salary increase in ITeS sector is expected to be 9.9 percent. Consumer …

Telecom Commission to pull up TRAI for 'jeopardising' sectoral health

A September 2008 order specifies that telcos must disclose details of promotional offers, which in any case shouldnt exceed 90 days.

PM for accountability to improve telecom services

New Delhi, Feb 22 () Clearly unhappy over poor telecom services, Prime Minister Narendra Modi today pressed for efficiency and accountability at all levels to bring about a visible change in the situation at the earlest.

Satya Nadella showcases cloud, mobile technologies in India

Microsoft CEO Satya Nadella today announced a Skype Lite application designed for Indian mobile users at the Future Decoded event.

Telecom industry relieved that Jio will start charging: COAI

Jio consumers, according to him, make more than 200 crore minutes of voice and video calls, and the telco has become largest mobile video networks glo..

India will embrace 5G technology very quickly: Aircel CTO Sameer Dave

Dave said that at least 40% of the overall voice calls will be on VoLTE by 2020, but traditional voice service will continue to dominate in the Indian..

5 things that will impact Indian telecom operators after Jio

Indian telecom operators – Airtel, Idea Cellular, Vodafone, Reliance Communications and Tata Teleservices – are going to face challenging market conditions in the coming months due to special data and voice offers from Reliance Jio. All the telecom operators are already facing the heat. Bharti Airtel’s net profit fell 55 percent, while Idea Cellular posted loss …

Indian telecom products and services should become the number one choice for ASEAN countries: Manoj Sinha

(MENAFN - KNN India) New Delhi, Feb 21 (KNN) For ASEAN countries Indian telecom products and services should become the number one choice as they accelerate the digital connectivity initiatives,

Flipkart launches 'smart fulfillment solutions' in Bengaluru, Delhi, Hyderabad, eyes quicker delivery turnaround

In an attempt to further its turnaround time in deliveries, home grown e-commerce major Flipkart is expanding the initiative of providing its in-house built warehouse technology solution for sellers to more locations in the country.

Jharkhand govt approves retail sale of liquor

Liquor shop owners, whose licences were to lapse on March 31, have been allowed a four-month extension.

Average increments across India Inc likely to be 9.5%, a drop from 10.3% last year: Aon Hewitt

While its a marginal decrease from the 2016 spends, it show that India Inc. has held its own amidst global and Indian economic and political events.

BREAKINGVIEWS-Unilever may be tempted by artificial sweeteners

Shares of Unilever (UN and UL) are up 3.8% today after it said it could sell businesses as it reviews costs and profitability.Shortly after rejecting a $143 takeover bid from Kraft Heinz (KHC), Unilever said Wednesday it would conduct a "comprehensive" review to "capture value. READ MORE>>

Cash ban affected only 1% of revenue of consumer cos: Anand Rathi

Those with greater exposure to wholesale channels, rural markets and Northern and Eastern India were the more hurt, it said.

Rice basmati softens on tepid demand

In a restricted activity, rice basmati prices fell by Rs 100 per quintal at the wholesale grains market today due to subdued demand against sufficient stocks position. However, other grains remained steady in thin trade. Traders attributed the

When will Godrej Agrovet go public?

Godrej Agrovet’s business verticals include agri-inputs, animal feeds, oil palm manufacturing, and consumer brands in dairy and poultry

ChrysCapital to sell 14% in CavinKare

Mumbai/Chennai: Personal care products company CavinKare is set to buy back 14% stake held by India's oldest private equity house, Kunal Shroff-led ChrysCapital, for around Rs 500 crore, people directly aware of the matter said.

Five key focus areas for Tata Sons' new boss, N Chandrasekaran

As N Chandrasekaran takes over the reins of the Tata group on Tuesday, his immediate task will be to manage perceptions and mitigate business challenges, while identifying new areas of growth for the conglomerate

Myntra to foray into offline retail segment with Mango brand

The ecommerce major had earlier unsuccessfully tried to acquire the store network of US brand Forever 21, which it lost to Aditya Birla group.

Snapdeal cuts workforce as India's ecommerce market becomes unforgiving

Payments unit Freecharge's CEO Govind Rajan has also quit, while the online marketplace aims to become more focused on becoming profitable

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