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Wednesday, May 17, 2017

May 17, 2017 - L T Tech to hire 2,500 Indians in FY18, step up US hiring

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
Barred from driving in a country with non-existent public transport, Saudi women are a profitable prospect for ride-hailing companies. Careem, a firm valued at $1bn that is based in Dubai and operates across the Middle East, north Africa and South Asia, set up shop in 2013. Uber followed in 2014. Both see the Saudi market as one of the most lucrative in the region. Around four-fifths of their respective customers are women. More here

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L T Tech to hire 2,500 Indians in FY18, step up US hiring

L&T Technology Services will hire 2,500 Indians across verticals in the financial year ending March 2018

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World's rich confident they can scale wall of global risk: Survey

A survey of more than 2,800 millionaires show worry about global financial system.

Are electronic imports the new gold for the Indian economy?

At $4.4 billion, electronic imports outpaced gold imports of $3.8 billion in April

Breaking up banks: Trump is all noise

The biggest US banks want him to relax capital requirements that limit their leverage.

Paytm to start payments bank operations from 23 May

Paytm will transfer its wallet business, with over 218 million mobile wallet users, to the newly incorporated entity, Paytm Payments Bank

IDFC counts on country roads to take it home

Results show that net profit almost doubled to Rs 71 crore in the year ended March 2017 from Rs 37 crore in March 2016.

Mere paas scale hai: SBI to bank rivals

SBI is giving up to 35 basis points concession on loans for construction to builders of the affordable housing segment.

IFC to invest $40 mn in Tata Cleantech

International Finance Corporation plans to invest $40 million (Rs 260 crore) in Tata Cleantech Pvt. Ltd, the World Bank’s private-sector arm said in a disclosure. IFC said it will invest in the Tat…

NBFCs cash in on Indian banks' bad loan pain

With their share of total credit rising, new players and new investors have piled into the NBFC market

Small businesses suffer as India's bruised banks sit on deposits

A mountain of bad debt in India’s banking system has led to a prolonged credit crunch that is inflicting most pain on small- and medium-sized enterprises

How e-commerce firms will gain in the GST regime

GST should end numerous hurdles that state governments put up against online retail firms, such as Amazon and Flipkart, to protect offline retailers and state revenue

Non-bank finance firms cash in on Indian lenders' bad loan pain

Indian banks' struggles with bad loans over the past three years have opened an opportunity to ramp up lending for so-called non-banking financial companies (NBFCs), which are not as strictly regulated as banks.

Unethical business conduct a major reason for Indian startups' failure: IBM

Private equity and VC funds have infused more than $22 billion of capital into India since 2006, according to startups analytics firm Tracxn.

Gender discrimination defines India's economy

Improving the gender balance in labour force participation, entrepreneurship and growth is an important first step for India’s development

Edelweiss in talks to invest Rs450 crore in JM Baxi Group

JM Baxi Group is raising capital primarily for its asset-heavy businesses such as port terminals and container handling facilities such as inland container depots

Kotak Mahindra to seek shareholders’ nod to raise Rs5,000 crore via NCDs

NCDs will be valid for a period of one year, Kotak Mahindra Bank says in disclosure to stock exchanges

BanyanTree buys stake in Kanakadurga Finance

BanyanTree said to have invested close to $10 million from BanyanTree Growth Capital Fund II in Kanakadurga Finance for a significant minority stake

Apollo group’s logistics unit in talks to raise Rs300 crore

Apollo LogiSolutions plans to use the funds to primarily expand its warehousing capacity and for small acquisitions

IFC to invest $40 million in Tata Cleantech bonds

IFC will subscribe to a senior debt instrument, structured as a green bond, to be issued by Tata Cleantech Capital in one or more tranches

SBI says no impact on ATMs from WannaCry

The country's leading commercial lender State Bank of India would tap various opportunities to raise the credit-deposit ratio in West Bengal which was now as low as 45 per cent

India's current credit rating does not reflect the stability of the economy

International ratings play an important role for governments and companies in emerging countries like India to raise capital in the international financial market.

Forced mergers, sacking on cards as RBI gets tough with misfiring big banks

Banks having losses for 2 years on run, with over 6% bad loans, and those unable to meet minimum cap requirement, will be subject to RBI's new action plan.

Sale season might be over, but aggressive Amazon not done with discounts yet

The development does not seem to have pleased Flipkart although a company spokesperson said the ongoing sale is a success with sellers running out of stock on top products.

Future Group inks MoU with Omani firm to open 'fbb' outlets

New company will be named KR Future Fashions LLC

Kishore Biyani-led Future Group announces international operations

It has entered into a joint venture with Oman-based Khimji Ramdas LLC to open fbb stores and strengthen exports and distribution of its food and FMCG brands internationally

Government panel to assess telcos' financial stress

The inter-ministerial group, which will submit its recommendations within three months, will comprise five senior officials from DoT, and three joint secretaries from the departments of economic affairs, financial services, and revenue.

India's mobile payments are 'five years ahead of the US,' says Ezetap CEO

Ezetap is leading India's digitalization of its banking and finance industries.

Jio impact continues to weigh on Vodafone

The Indian operations has dragged the group's performance, with Vodafone Group Plc. posting a loss of $6.71 billion for March ended fiscal year.

On World Telecom Day, BIF lauds ISRO's GSAT 9 launch

NEW DELHI: Broadband India Forum (BIF) on Tuesday lauded Indian Space Research Organisation (ISRO) for launching the Regional Communication Satellite for South Asia - GSAT 9 to fulfill the vision of Prime Minister Narendra Modi.

How much are you spending on mobile data?

More and more people are spending larger part of their mobile bills on data services

Britain's Vodafone reports net loss of 6.1 billion euros

Compnay's organic service revenue growth slowed to 1.5% in the final quarter from 2.1% in the third

Lenovo becomes the most used Chinese mobile brand in India

LOVE brands should explore Tier II states and cities for market expansion to find out the new Smartphone users.

Ransomware attack: Banks, airports, telecom services on high alert in India

While India's cybersecurity unit CERT-In is yet to receive a formal intimation of any major attacks, it has reached out to all government agencies and public utilities to stay alert.

Future Group ties up with Khimji Ramdas group in fashion sector

Kishore Biyani-led Future Group on Tuesday said it will foray into the international market for fashion and consumer products through a 50:50 joint venture with Oman-based Khimji Ramdas (KR).

Patanjali toothpaste makes Dabur smile

MUMBAI: Patanjali Ayurved's Dant Kanti toothpaste has drilled holes into market shares of multinationals Colgate-Palmolive (India) and Hindustan Unilever.

Colgate’s hold over the oral care market slips

Colgates share in India had consistently increased in the previous five years, but FY17 has been particularly bad for the Indian unit as its annual volume shrunk due to price hikes.

FSSAI to take strict action against food adulteration

The regulator unveiled a food smart consumer portal for registering grievances in order to strengthen its redressal system.

Advertisements for products being reworked after ASCI puts onus of benefit-based claims on celebs

The guidelines say all endorsements or representation of opinions must reflect genuine, reasonably current opinions of individuals.

Future Group goes overseas with joint venture for Oman market

Kishore Biyani has finally decided to test international waters. The Future Group has signed a JV with Khimji Ramdas Group of Oman to retail jointly in the fashion and food categories in the UAE. The new established JV company will be called KR Future Fashions LLC. “For the first time we were thinking of spreading our wings in

WINIT launches route optimisation soln for FMCG, retail firms

WINIT launches route optimisation soln for FMCG, retail firms

Neil George appointed as MD, Nivea India

MUMBAI: Nivea India, the subsidiary of Beiersdorf AG, Germany has appoints Neil George as the new managing director following the elevation of Rakshit Hargave to senior VP, India, Sub Sahara Africa & head sales Beiersdorf Near East.

Future Group ties up with Oman-based Khimji Ramdas Group for fashion, consumer products

The 50:50 joint venture will be called KR Future Fashions with an investment of Rs 75 crore each, Future Group CEO Kishore Biyani said

Jeera Sip: Manpasand Beverages forays into traditional drinks ...

The company is focusing on strategic tie-ups with QSR, popular food chains, and modern retails to make the product more widely available across India

FDI rules in food retail may be changed to allow sale of some FMCG ...

After approving 100% foreign direct investment (FDI) in food processing, the Centre is preparing to further relax rules to allow foreign retailers and e-commerce companies to sell...

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