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Wednesday, May 03, 2017

May 3, 2017 - Real Estate Act puts developers on notice to clean up act or go to jail

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
I know you heard about Shah Rukh Khan's TED talk in Vancouver, and probably searched for it online and couldn't find it. Well, I've got something even better for you - Here's a link to Elon Musk's interview by Chris Anderson at the same TED conference. The wide ranging interview starts with his plans to create high speed underground lanes. Here's the cool 1 minute concept video for 'The Boring' company and how it will ease traffic woes. Elon talks about his new electric semi-truck which maneuvers like a sports car and the next steps for Spacex (space tourism), Tesla, Solar roofing and the Gigafactory producing lithium-ion batteries which will make all this possible. Whew!

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Real Estate Act puts developers on notice to clean up act or go to jail

Developers who don’t comply with the new Real Estate Act will have to face up to three years in jail


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Smaller players bank more on government’s Digital India push

IDFC Bank was the first to launch Aadhaar-enabled biometric payment even before Prime Minister Narendra Modi flagged it off on April 14.

Narendra Modi govt will soon loosen purse strings: Deutsche Bank

The Narendra Modi government will certainly want to quicken the pace of job creation before he faces voters in 2019

NBFCs in a sweet spot and poised to build: Ravi Bubna, ECL Finance

Liquidity is likely to cushion yields and borrowing rates given the neutral monetary policy.

Bhushan Steel's lenders reject its loan recast plan

Rising steel prices would make the company financially healthy and improve its ability to service loans.

Super-rich private equity stars rue 'lousy' reputation, say they are misunderstood

Super-rich private equity stars rue 'lousy' reputation, say they are misunderstood - Ultra-wealthy private equity managers lamented their reputation as 'lousy' corporate profiteers at a plush Beverly Hills hotel on Tuesday, arguing their value to society was greater than the public realized.

Time to revisit the idea of public sector banks

Lending directed by the state has meant that Indian banks have slipped into crisis mode at the end of every business cycle

Bank merger to gather pace

The finance ministry is gearing up for a fresh wave of consolidation among state-run banks, buoyed by the smooth merger of the State Bank of India with its associate banks.

Goldman Sachs eyes stake in Manipal Integrated Services’s hostel business

Goldman Sachs is expected to invest about Rs250-300 crore to acquire around 45-49% stake in Manipal Integrated Services’s hostel business

MT Educare raises Rs110 crore debt from Xander Finance

MT Educare, known as Mahesh Tutorials, will use the funds to refinance existing loans and fund expansion

Jack Ma-backed Yunfeng Capital, Temasek invest in WuXi NextCODE

Jack Ma-backed Yunfeng Capital and Temasek co-led a $75 million Series B round of financing in contract genomics organization WuXi NextCODE

SoftBank takes Snapdeal closer to Flipkart sale but yet to seal terms

Snapdeal board meeting sees three key shareholders remaining at odds with SoftBank on the terms of a possible sale of Flipkart

Bitcoin soars above $1,400 to all-time high

Bitcoin surged to an all-time high above $1,400, after more than tripling in value over the past year, with its most recent rise attributed to strong demand in Japan

Indian Bank to raise Rs 5,000 crore to fund infrastructure, housing

The bank's board of directors will take up the proposal to raise money at its meeting to be held next week.

ATMs have become an attractive site of attack from cyber criminals globally: Aleks Gostev, Kaspersky Labs

Aleks Gostev, the chief security expert at Kaspersky Labs explains the looming threat on the Indian banking system and what should be done to prevent a major financial loss.

Fitch retains India's sovereign rating at stable investment grade level

The rating firms that India's sovereign ratings balance a strong medium-term growth outlook and favourable external balances with a weak fiscal position and difficult business environment.

ICICI Bank to create 500 more digital villages

The villages are spread in 17 states across the country.

It's time to privatize banks

Government banks have become the weak underbelly of the economic system and need to undergo privatization as soon as possible

Consumer electronics business is now top grosser for Reliance Retail

In financial year 2017, the consumer electronics business — that runs Reliance Digital chain — accounted for 34% of the total turnover of the company.

Amazon to double storage capacity, hire 5000 people on Tuesday said that it would double its storage capacity this year, adding

Titan eyes Rs 600 crore topline from MontBlanc JV by 2020

Titan and European luxury firm Maison Montblanc, which has a joint venture to open latter's retail outlets here, is looking at a turnover of up to Rs 600 crore over the next four years. The joint venture has seven boutique stores across Mumbai, New

Virtuous Retail South Asia acquires North Country Mall for 700 cr

Virtuous Retail South Asia (VRSA) has acquired Chandigarh-based North Country Mall fro

Walmart to open 50 new stores in India

Global retail giant Walmart will set up 50 new stores across India, including 10 in Telangana, over the next three to four years, a top company official said on Saturday.The US retailer signed a M

Telecom disparity: US spectrum 9 times cheaper than India even though auction revenue was double

Our spectrum management has caused much harm to the public interest by stifling mobile broadband and data growth. We need tremendous political will to ensure true discovery of spectrum market.

Phased manufacturing programme may boost mobile handset manufacturing to $500 billion: Government

Alternatives such as reimbursement to companies through the ministry of electronics and IT or at the state level are also being considered.

Tata Sons to invest Rs 2000 crore more in telecom arm

Funds will be raised via non-cumulative preference shares issued to Tata Sons on rights basis

Layoffs in Tata Teleservices, around 600 employees impacted

As many as 500-600 employees have been impacted by the lay offs in sales and other related functions, two people familiar with the matter said.

Strong market share means more margins to telecoms in Asia

UBS Securities, in its research report, said there is a strong co-relation between margins and revenue market share (RMS) of telecom operators in Asia. The UBS report analyzed Bharti Airtel, Idea Cellular and Vodafone India, the top three telecom operators in India in terms of revenue. Bharti Airtel, the leading telecom operator in India, has …

WhatsApp now allows users to pin chats, also introduces VoIP calling interface

The new WhatsApp calling interface brings it close to the material design guidelines for the calling interface on Android.

Mobile Number Portability requests in India decline 9% to 5.67M in February 2017,

Porting requests were submitted for 5.67 million connections in the month of February 2017, according to the Indian Telecom regulator TRAI. This is down 9.08% from 6.23 million porting requests reported in January 2017. For the month of February, the maximum number of requests in Zone-I (North an

In a competitive telecom market, how India's first MVNO Aerovoyce plans to create its own space

Aerovoyce is a Mobile Virtual Network Operator (MVNO) which launched its services last month in Tamil Nadu, covering cities like Salem, Coimbatore, Thanjavur, Cuddalore and Kanyakumari. MVNO's essentially buy different services (data, voice, messaging etc) in bulk from different telecom operators, a

SoftBank to invest $1.4 billion in India's Paytm in bet on demand for mobile money

You have cookies turned off To use this website, cookies must be enabled in your browser. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Bro…

Hindustan Unilever wins scholarship advt case

HUL had launched Surf Excel 1010 contest in August 2006 to promote education among children, thereby offering Rs 5 lakh scholarship to the winners of the contest. Under the scheme, in each Surf excel pack, there was a box containing a stained cloth (swatch) having certain score between 110 to 1010 hidden.

Amazon India To Add 4000 Jobs As E-Commerce Turf War Heats Up

The US-based company, has committed an investment of $5 billion in the Indian market.

Coca-Cola India's profit surged over 40% in the past four years

Coca-Cola’s outgoing India and South-West Asia president Venkatesh Kini said in his parting email to employees ‘we could have achieved more’

Modern Food eyes acquisitions, non-bread segment for Rs 1,000 crore revenues by FY21

Apart from the proposed acquisitions, the company said it will also launch several products in the non-bakery segments to drive the revenue growth.

Cargill Foods seizes stocks of fake oil brand : PTI feed, News

Cargill Foods seizes stocks of fake oil brand

Coca-Cola's Ludhiana bottling plant commission 100 KW Solar powerplant

By using best-in-class technology and upgradation of infrastructure they have been able to reduce ratio amount of energy used for producing a litre of beverage.

Patanjali Research Institute: Narendra Modi to inaugurate Baba Ramdev's institute in Haridwar tomorrow

Patanjali is a fast growing Fast-moving consumer goods (FMCG) whose net sales for the financial year 2015-16 stood at Rs 5,000 crore. The company aims to steal the march over multinational firms manufacturing consumer products in the near future.

Wheat, rice basmati slide on reduced offtake | Business Standard

Weak conditions prevailed at the wholesale grains market today as prices of wheat and rice basmati drifted lower by up to Rs 300 per quintal due to reduced offtake by flour mills and stockists against ample stocks position. A few other bold grains

PepsiCo to roll out zero-sugar cola

PepsiCo is in the process of rolling out Pepsi Black, a zero-sugar cola in cans, to counter Coke Zero, reflecting the shifting consumer preference towards less sugary drinks in India.

Jet Airways To Launch SME E-Marketplace In India

Jet Airways will be India’s first airline to launch a B2B eCommerce portal for SMEs.

Snapdeal investor Nexus remains obstacle to Flipkart deal, seeks higher stake

Snapdeal held a board meeting on Tuesday, where founders Kunal Bahl and Rohit Bansal gave their nod to the deal and agreed to the compensation terms.

Amazon to add 7 new warehouses in India, hire 4000 people

Amazon, which is locked in an intense battle with local rival, Flipkart, has been pumping in funds to expand infrastructure and technology platform in..

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