May 11, 2017 - GST rollout in India is a bonanza for global accounting firms

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Sree Vijaykumar From the Editor's Desk Increasing urbanization seems to be a given. Not all cities have the luxury of a Central Park (New York city). So how can the increasingly populated cities of the world be given a breath of fresh air. Enter 'Vertical forests' - high-rise buildings covered with trees and plants - they absorb carbon dioxide, filter dust from pollution and produce oxygen. They're also an ingenious way of planting more trees and creating habitats for wildlife in cities that are squeezed for space. China, a nation experiencing rocketing urban growth and an air pollution crisis, is set to get its first vertical forest. The project in the eastern city of Nanjing is the brainchild of the Italian architect Stefano Boeri and his team, who built Milan's Bosco Verticale (vertical forest), consisting of two residential high-rises at 110 and 76 meters with around 900 trees and over 20,000 smaller plants and shrubs. Visualization of this spectacle and more here. Advertisers of the day TradeBriefs: World of Hyatt - A new loyalty program for you Shriram Properties: Shriram Properties presents premium apartments in the heart of Ecity Phase 1- Shriram Summitt  Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails (B2B Decision-Makers, B2C Decision-Makers, TradeBriefs Premium). GST rollout in India is a bonanza for global accounting firms With 7 weeks to go before the goods and services tax (GST) rollout, Indian companies are rushing to bring in experts to help prepare the accounting and IT systems Advt: Lending solutions for all your long-term business needs No company starts big. They grow over time. Standard Chartered will be your companion in this growth journey, giving you solutions that fit your needs at every stage (Know More) Advt: Work for the best employer - Yourself Advantages - Best B2B audience in India, no hard-selling or up-front costs involved, access to our content repository and air-tight agreements with instant gratification. RBI looks forward to juggling exchange rate and liquidity Latest data from RBI shows that the central bank has an outstanding forward position of $10.38 billion SBI's merger could see the banking behemoth leapfrogging into the global top 50 The merged banks are expected to reach the efficiency of the parent. SBIs current cost-to-income ratio is 49%, compared with 52% for subsidiaries. 'Banks do not have the capital to take haircuts' Mumbai: For HSBC, India was the third-largest market in terms of profit after Hong Kong and China in 2016 with a profit of $743 million. Bharti Airtel to invest $2.5 billion in FY18, with focus on building 4G capacity Bharti Airtel CEO Gopal Vittal says will invest $2.5 billion in India in FY18, the biggest chunk of which will be used to build 4G capacity, even at the cost of ARPU World Bank's IFC to invest $200 million in HDFC World Bank’s investment arm International Finance Corp. (IFC) says will invest $200 million by buying five-year non-convertible debentures (NCDs), or masala bonds As start-ups flounder, investors take over control from founders The talks of Snapdeal sale to Flipkart led by SoftBank is only one of several instances (Ola, Paytm) where the investors are taking control of start-ups Credit app EarlySalary raises $4 million from IDG Ventures, DHFL Short-term loans start-up EarlySalary will use the funding from IDG Ventures and DHFL towards product development, customer acquisition and expanding the team Banks don't need to wait 90 days to start loan recovery Under Reserve Bank of India rules, a loan becomes non-performing if the interest or instalment of principal remains overdue for more than 90 days. HDFC Bank raises Rs 8,000 crore via perpetual bond sale HDFC Bank has raised about Rs 7,500-8,000 crore by selling perpetual bonds to marquee institutional investors through the electronic bidding process on NSE. Kotak Mahindra Bank to launch $867 million share sale as early as this week: IFR Kotak Mahindra Bank received shareholder approval to sell up to 62 million shares, worth about Rs5,600 crore What makes a fund manager quit his job? Some fund managers end up setting up their own portfolio management service after leaving the mutual fund industry. We look at why they may be doing it Sharing note ban process details will affect India's economic interests: RBI RBI was asked to provide a copy of the minutes of the meetings held in its office during which the decision to demonetise Rs 500 and Rs 1,000 notes was taken. How Kerala’s cooperatives are planning to take on big banks IIM professor M.S. Sriram lays down the roadmap for Kerala govt’s plan to merge state cooperative banks into one bank called Kerala Co-operative Bank Tata Group explores ready-to-eat food market The ambitious entry into the ready-to-eat market was a bone of contention between former chairmen Cyrus Mistry and Ratan Tata, ET had reported in December. Amazon Great Indian Sale Starts May 11: Five Things to Do if You Want the Best Deals The Amazon sale will come with a number of great offers, so follow these tips to ensure you don’t miss out on any great deals. The iconic India Coffee House brewing plans for revamp, expansion Coffee Board seeks inputs from private players on new business model Personal care products dominate online purchases: Survey Personal care products still rule the roost in online purchases, a survey has revealed. As temperature soars, waiting period for AC and fridge increases Kim Ki-Wan, India managing director, LG Electronics, said the company has missed out on an additional sales opportunity since no one foresaw such high demand. Bharti Airtel to focus on cost control, higher 4G device share to combat Reliance Jio Airtel has embarked on an aggressive cost-optimisation drive through a mix of fibre-sharing and active-infrastructure sharing measures to improve fina.. Made in India Iris-Enabled Aadhaar Mobile OS to Debut Soon The mobile OS will offer Aadhaar-integrated services, linking them to the UIDAI server.  SoftBank records $1.4 billion loss from India investments SoftBank had invested 900 million dollars in Snapdeal. It is currently trying to convince Kalaari Capital and Nexus Venture Capital, other major investors in Snapdeal, to agree to the sale. ZTE brings its 5G innovations to Indian Telecom partners As network data traffic is rapidly growing in these years, network requirement for new service and large capacity has greatly increased. Oracle introduces GST-compliant ERP Cloud in India In compliance with the government's GST regime, US-based tech major Oracle on Tuesday announced the availability of Enterprise Resource Planning (ERP).. Jio's 4G footprint driving consumers to choose future-ready smartphone: IDC The aggressive fourth generation (4G) technology expansion of telcos led by Mukesh Ambani-owned Reliance Jio is driving consumers to choose 4G-enabled.. FMCG firms cut middlemen in run-up to GST FMCG firms cut middlemen in run-up to GST - The note ban which affected volumes growth led the companies to restructure distribution Restaurants and companies fret over proposed fat tax The product list includes deep fried Indian and western snacks, desserts and confectioneries that are sweet, fatty and salty. Tata Group explores ready-to-eat food market The ambitious entry into the ready-to-eat market was a bone of contention between former chairmen Cyrus Mistry and Ratan Tata, ET had reported in December. Patanjali eyes Rs 1 lakh-crore turnover in next 5 years "Our turnover was Rs 10,561 crore last (fiscal) year. Now, we are targeting to achieve a turnover of Rs 1 lakh crore in the next five years," said Ramdev. “Pink” actor Tapsee Pannu in new Fruits Up TV commercial Acclaimed Hindi film “Pink” actor Tapsee Pannu’s first television commercial (TVC) has Returns on rice: The making of India's biggest basmati exporter Anil Mittal's family business KRBL is reaping the benefits of its decision to penetrate the domestic market with new brands and varieties of basmati, while maintaining a strong export business PepsiCo's Vipul Prakash on celebs, Mirinda, slumping CSD sales and the way forward In a candid conversation with Brand Equity, Vipul Prakash – senior vice president - beverages, PepsiCo talks about Mirinda going purpose driven, Pep.. Flipkart hikes Myntra's annual budget by 25 per cent “This year we got 25% extra money from the Flipkart board,” said Ananth Narayanan, chief executive of Myntra that was acquired by Flipkart for $300 million in 2014. Amazon trounces rivals in battle of the shopping 'bots' Losing access to Amazon.com Inc's data was no small matter. Like most big retailers, Wal-Mart relies on computer programs that scan prices on competit.. SoftBank logs Rs 9000 cr valuation loss from Ola, Snapdeal SoftBank said in its earnings statement, "Highly competitive e-commerce market in India has made a trend of the company's business performance lower than initially anticipated." SoftBank records $1.4 billion loss from India investments SoftBank is the largest private investor in India's startup ecosystem. The Masayoshi Son-led giant has pumped in over $2 billion here till date. 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