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Thursday, March 30, 2017

Mar 30, 2017 - GST will eliminate burden of tax on tax; boost India's economy, GDP: Shaktikanta Das

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From the Editor's Desk
Ms. Kirsten Green is an unorthodox venture capitalist for several reasons. Apart from having never worked at a venture capital firm before starting her own in 2012, she is also a woman in a male-dominated field. (Of the top 20 venture investors this year, only two were women.) And unlike many generalist venture investors, who work in a range of areas, Ms. Green focuses specifically on commerce and other retail-related start-ups. In one of her first moves as a venture capitalist, she was part of a $1 million investment into Dollar Shave Club, then a tiny company, which sells razors to consumers online. Later, she invested in, an e-commerce start-up that was vocal about wanting to take on Amazon. Last year, both those start-ups hit the jackpot: Unilever bought Dollar Shave Club for $1 billion, while Walmart purchased for $3.3 billion. More here

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GST will eliminate burden of tax on tax; boost India's economy, GDP: Shaktikanta Das

GST will completely transform the way our economy functions. Importantly, it will also bring in greater transparency, greater accountability and widen the tax net, said Shaktikanta Das, Secretary-Economic Affairs, GoI.

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RIL inches higher on completion of stake sale in African company

The scrip was trading 0.61% up at RS 1,262.40 around 10.10 am (IST).

Why is NSE bogged in negatives? Maybe it needs to put protocol first

NSE has had a history of ignoring good corporate governance practices and its senior management has a penchant for opaque decision making, enquiries reveal.

Blackstone wins CCI nod to buy stake in K. Raheja’s commercial office portfolio

Blackstone has been the front-runner to buy 15% stake in the K. Raheja Corp’s commercial real estate business for $250-300 million

Future Lifestyle Fashions to raise Rs450 crore by diluting stake in investee brands

Over the years, Future Lifestyle Fashions has invested in multiple brands at an early entrepreneur stage, acquiring stakes ranging from a minority to a majority

The Indian rupee: Flirting with overvaluation

The RBI has not intervened in the currency market because it is already battling excess liquidity in the financial system

Bank unions agree to govt’s financial goals to recapitalize weak banks

The employee unions and Uco Bank management have signed an MoU for a turnaround plan, which will decide the future course of action in the bank’s recapitalization

Rajya Sabha forces 5 amendments to Finance Bill

Among the 40 amendments present in the Finance Bill 2017 are those that make key changes to the Income Tax Act.

Kotak Mahindra Bank to focus on building stressed asset business

Kotak Mahindra Bank MD Uday Kotak says the large opportunity in stressed asset space in Indian banking would prove to be a good business opportunity

PE exits rose 2% in value terms in 2016: Bain and Co. report

The Bain and Co report said private equity exits in India rose 2% in value terms to $9.6 billion in 2016, up from $9.4 billion in 2015

I Squared Capital seeks to raise up to $4 billion for second fund

I Squared Capital has hit the market again to raise its second infrastructure fund of up to $4 billion to invest in infrastructure assets globally and in India

Banking sector needs ₹4 lakh crore towards loan-loss provisioning: Uday Kotak

Two or three large, well-capitalised ‘bad banks’ can help resolve the stressed assets problem, says Kotak Bank MD

Axis Bank ties up with Wells Fargo for Inward remittances

Under the arrangement, members of the Indian diaspora with an account with Wells Fargo will be able to transfer money to their relatives back home.

Grameen Koota gets Rs 250 crore capital from CreditAccess Asia

Grameen Koota managing director Udaya Kumar told ET that it received Rs 50cr in form of fresh equity and the balance Rs 200cr in the form of compulsory convertible debentures.

Walmart okay with selling only Made-in-India products: India CEO

We are okay with selling only ‘Make in India products because even in our cash-andcarry stores, imported items make up for only 5% of our total products, said Krish Iyer.

Multi-designer store formats starting to debut in Kolkata

. The store would have collections from 15 odd designers like You Ensembles, Mathili's, Greenways C.P, Pranati & Sahib, Prihana by Neeru Bhasin, Akshay Raj etc.

PVR eyes Rs 4000 crore revenue in 5 years

"We are about 570 screens and in next four to five years we would double screen count and cross 1,000 screen," said PVR Chief Financial Officer Nitin ..

Future Lifestyle's FreeJeansDay garnered huge response

Future Lifestyle Fashions said, the campaign was part of their omni-channel marketing strategy where customers were holistically engaged on both onlin..

Retailers eye IoT, AI and automation to boost growth: Study

New Delhi, March 29 (IANS) Retailers in the Asia-Pacific region are fast adopting Internet of Things (IoT), artificial intelligence and automation strategies to boost growth, a new study has said. -

ShopX Achieves Rs 2.7 crore GMV in a single day

ShopX - India’s fastest growing digital offline platform, has achieved the landmark of Rs 2.7 crore GMV in a single day. With the integration of technology and human touch, ShopX has strengthened i

Flipkart bets on exclusive smartphone deals, cashbacks to fight competition

Turns its attention towards higher-priced phones to improve margins

Trai to reject Bharti Airtel, Vodafone India and Idea Cellular claims that calls can't be priced less than 14 p/min

Citing claims as a classic example of the pot calling the kettle black, an official said countrys three largest telcos were already pricing voice calls lower than 14p.

Phone maker Oppo sacks Chinese employee for 'throwing' Indian flag in dustbin

Mobile phone maker Oppo has decided to keep its assembling unit shut till Friday after a Chinese employee allegedly tore the Indian flag and threw it in the dustbin, triggering...

73 mobile manufacturing factories have come up in India in last 2 years, says IT minister

Minister of Electronics and IT Ravi Shankar Prasad on Tuesday asked the neighbouring countries to take a cue from the Indian model of improving governance and empowering the poor through digital initiatives.

China demands protection of its firms, nationals after flag row at Oppo factory

The incident wasn’t covered in detail in Chinese media but it did come to the notice of a few hundred users of China’s Twitter, Weibo.

Idea Cellular investor Providence exits India with $1bn assets ...

Providence will not pursue new investments locally, and look at divesting the current India portfolio-Indus Towers, UFO Moviez, Hathway Cable and Shop..

Telecom sector: Data war churns consolidation

In an analyst presentation made early March, Reliance Jio said it expects to gain over 50 per cent of revenue market share based on huge expected data..

Truecaller enters mobile payments in India

A new service called Truecaller Pay lets Android users in India send or receive money securely over their mobile phone thanks to a partnership with ICICI Bank

Airtel sells 10.3% stake in Bharti Infratel to KKR, Canada's CPPIB, others

Airtel has sold 10.3% stake in its mobile tower company Bharti Infratel to a consortium of funds, including KKR and CPPIB, to raise Rs6,193.9 crore

Route Mobile set to launch USD 300,000 e-sports league in India

The founder of Route Mobile Rajdip Gupta is planning his eSports venture – COBX Gaming – that will invest $10 million to promote eSports in India.

GST closer to reality, Lok Sabha clears four related bills

The Lok Sabha will take up the Goods and Services Tax (GST) Bill for discussion and passage during the budget session of Parliament on Wednesday.

Jio, Emami, Dettol and Complan ads found to be misleading: ASCI

ASCI upheld complaints against 95 out of 125 commercials in December

Rice basmati edges up; wheat slips on adequate stocks

Rice basmati edges up; wheat slips on adequate stocks - Rice basmati prices firmed up by upto Rs 300 per quintal at the wholesale grains market today following pick up in demand.

P G moves Delhi HC in appeal against airing of 'disparaging' shampoo ads by HUL

The brands in question are HUL’s Clinic Plus shampoo and P&G’s Head & Shoulders shampoo

Amazon's Different Standards for Indian Consumers

Moneylife is an online resource for news and opinions on personal finance, banking, finance and industry sectors from India.

Tata ties up with Alibaba to take Tetley tea bags to China

Tata Global Beverages has entered a tie-up with Alibaba Group Holding to sell Tetley tea bags through the latter’s TMall online retail channel

E-commerce logistics is at a tipping point in India as Delhivery raises over US$100M from Carlye, Tiger Global

Founded in 2011, Delhivery provides express logistics services in over 600 cities and in more than 8,500 ZIP codes in India

Jabong adds Aropostale, to its product portfolio

The New York based retailer of casual apparel and accessories for teen will be available on Jabong for women and men in more than 600 variants across categories.

Amazon Is Pushing Grocery Shopping With Innovations In India And Abroad

Amazon likely to launch grocery stores in India soon.

GoDaddy launches new website builder for small businesses in India

GoDaddy's new Website Builder enables users to design a professional looking website by simply typing in their name and industry or an idea and get a ..

No international law to bar sale of items carrying Indian flag image

There are laws and rules in the country which allow authorities to initiate legal proceedings against such e-commerce portals with commercial activiti..

Paytm pulls out of Snapdeal buyout talks, leaves ball in Flipkart's court

Paytm has pulled out of talks to acquire Snapdeal leaving the ball in the court of Flipkart's major investors, sources close to talks, told Moneycontrol.

Is Bengaluru losing its charm as the startup hub of India?

Bengaluru has housed some of the biggest and most successful startups India has seen in the past decade. Flipkart, Big Basket, Swiggy, Ola are just a few examples. However, a recent study by Startup Genome, which was widely reported on, points out that Bengaluru’s position in the Global Startup Ecosystem Ranking 2017 has slipped five places down to the 20th position, from the previous year. Cities like Beijing, Shanghai and Stockholm have raced ahead of Bengaluru.

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