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Thursday, July 27, 2017

Jul 27, 2017 - Online drug marketplace 1mg raises $15 mn from existing investors

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
A little over century ago, most of the economy was devoted to producing food. A half century later, the economy had shifted to making and consuming things: the golden age of mass production. Today, we live in an economy that primarily produces services. So, what's next? Signs point toward an unlikely commodity: stories. Like traditional commodities, stories require labor to produce and can be bought and sold. But story production will shape our economy in new and different ways. More here

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Online drug marketplace 1mg raises $15 mn from existing investors

Gurgaon-based 1mg Technologies Pvt. Ltd, operator of the online drug marketplace 1mg, said on Thursday it has raised $15 million (Rs 96.7 crore) in a Series C round of funding from its existing inv…

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Yes Bank turns tide on bad loans, powered by one account

With asset quality normalizing, Yes Bank’s strong core growth will be the focus and here the lender has fired on all cylinders

New India Assurance, GIC set to file for IPO in next three weeks

The IPOs of New India Assurance and GIC of India will see the government divest 10% stake in each of the state-run insurance companies

HDFC’s gilt-edged loan book dims as bad loans tick up

HDFC’s gross non-performing asset (NPA) ratio as of 30 June was 1.12%, up from 0.75% a year ago and 0.79% at the end of the previous quarter

SBI transaction charges: Behemoth PSB lags Airtel Payments Bank, India Post

After State Bank of India (SBI) waived charges on some low-value electronic transactions, the lender now is earning less on some such transactions compared with three of the four payments banks launched so far.

How can Sebi moderate India’s derivatives cholesterol?

Derivatives are like cholesterol in the human body—useful in moderate amounts, dangerous in excess

Tata Industries raises Rs 250 crore via corporate bonds to refinance debt

Tata Sons as well as other Tata Group companies have demonstrated their support to Tata Industries in the past by subscribing to its rights issues.

Essel Group may raise $1 billion to refinance offshore debt

Essel Group may use most of the proceeds of the proposed bond sale towards refinancing debt of infrastructure business

Vedanta to raise up to $1 billion in dollar bonds

When Vedanta raised $1 billion six months ago, the 10-year benchmark US paper yielded at around 2.50 per cent, compared with 2.30 per cent now.

Indian banks most at risk among South, SE Asian peers: Moody's poll

It said the govt has appeared reluctant to increase capital injection into PSU banks despite the limited ability of these lenders to access equity markets for the much-needed capital.

Redefining the basics of goal-based investing

The rules created for institutional investors are usually applied to individual investors, whereas they need their own sets of investing rules and matrices

Axis Bank set to buy Freecharge from Snapdeal for up to Rs400 crore

Freecharge sale to Axis Bank will give Snapdeal much-needed breathing space while in talks to sell itself to larger rival Flipkart

Bankers ditch fat salaries to chase digital currency riches

From Hong Kong and Beijing to London, accomplished financiers are abandoning lucrative careers to plunge into the murky world of digital currency

After Amazon, Grofers gets govt nod to open 'food only' outlets

Grofers become the latest online player to receive permission from the government to open fully-owned brick and mortar stores to sell food products. The government allowing the same for global tech giant Amazon this month worth $515 million.

Mondelez India reduces inventory pipeline with distributors

Maker of Cadbury Dairy Milk creates specific, bundled offerings for e-commerce

'Swiggy lying to restaurants for higher commissions'

Blog post says the firm plans to increase fee from 25% to an average of 30%

Hind Coca-Cola Beverages elevates Dinesh Jadhav as supply chain head

Hindustan Coca-Cola Beverages Pvt Ltd (HCCB), the bottling arm of Coca-Cola India P

Rocking Deals to expand its footprint with 75 retail stores pan India

Used phones seller in India, Rocking Deals has announced its foray into distribution of pre-owned certified mobile phones as the company plans to set up its retail stores across India.With a customer base of more than a million customers now,

Reliance Industries wants digital arm to be a Rs 40000 crore entity by 2020

The electronics retailing business achieved around Rs 11,200 crore sales last fiscal year, making it the largest contributor to revenue at Reliance Retail.

Will Trai end the IUC debate in India once and for all?

Trai has held discussions on the latest IUC consultation paper, including a special workshop on the costing model each telco has, and an open house discussion.

Google encourages, empowers SMBs to harness power of digital

Earlier this year, Google and KPMG had conducted a joint study, "Impact of internet and digitization on SMBs in India".

Reliance's 'free' JioPhone shakes up cheap end of India's billion dollar-strong market

Reliance Industries waded into India's cut-throat telecoms industry last year with its $30 billion bet on Jio, upending the sector with its cheap smartphones and data plans.

Declining telecom income may impact government's revenue: Manoj Sinha

"If the declining trend continues, the License Fee and the Spectrum Usage Charges are likely to be impacted adversely during the current financial year," govt said in parliament.

The Feature Phone that could change Indian Telecom

RIL has a knack for surprising people during its annual general meetings (AGMs). Consider the evidence. During the 2016 AGM, RIL had announced the commerci

Airtel 4G VoLTE Services Pan-India Rollout to Be Completed by March 2018: Vittal

Vodafone India on Tuesday announced a 70 GB 4G data plan for its new costumers in India. The offer reported by The Economic Times is priced at Rs 244 provides 70 GB of high-speed 4G data for 70 days and also offers unlimited calling facility to the users. The data pack is limited to 1 GB per day.

The next recharge after the first subscription is over will offer 70 GB data for 35 days. The company has reduced the validity for the subsequent recharges but will offer the same amount of data at the same price.

Reliance Jio offers similar data packs to its subscribers. One of the data pack offered by Jio provides 56 GB of data for 56 days with a recharge of Rs 309.  Another data pack by the company offers 84 GB for 84 days at Rs 399 in India. Both the data packs have  a 1 GB limit for a day and the internet speed decreases to 128 kbps after the maximum limit is reached for the day.

Reliance Industries Limited chairman and managing director Mukesh Ambani recently announced a free Jio phone with a security deposit of Rs 1,500 in India. The Jio phone will be available for pre-booking from 24 August 2017 and will be shipped to costumers in September this year.

The phone features a 2.4-inch QVGA display, FM radio, a microSD card slot and a torch. The owner of will also get a unlimited data and calling at a recharge of Rs 153. The user will also be able to do digital transaction by linking their bank account to the digital payment apps such as UPI.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

Telecom M As mean better spectrum utilisation, services: Govt

Declining telcos revenue may impact govt collections: Sinha

Telecom M As mean better spectrum utilisation, services: Government

On the planned merger of Vodafone India and Idea Cellular, the minister said that the scheme of merger and approval by NCLT has not yet been submitted.

Comment: Reliance Industries' telecom-media play fascinating, but complex challenging too

“This breakthrough and revolutionary device named JioPhone, along with Jio's disruptive tariff, will unleash the power of Digital Life in the hands of 1.3 billion citizens of the largest democracy in the world,” Mukesh Ambani told a gathering of about 2,000 at Reliance Industries’ 40th AGM in Mumbai last week even as thousands round the world followed his announcements online, “Jio will be the greatest accelerator of the Bharat-India connectivity. Indians even in the remotest villages will now have the same access to digital entertainment, digital learning, e- healthcare, e-banking, e-governance and real-time information that are enjoyed by those in cities like Mumbai or Delhi.”

As new tech enables cheaper voice, it's ridiculous for telcos to ask for higher IUC

IUC is important not only from the perspective of operators as it gives them a revenue stream, but it is also a key component of voice tariffs and, therefore, also has a bearing on consumers’ monthly bills.

E-commerce sites to disclose food expiry date, MRP

Ordering packaged food from e-commerce sites has increased many folds, but the absence of manufacturing and expiry dates on such products often led to..

Parle eyes confectionary business again

The Rs 10,000 crore organised confectionary market, currently growing at 12%, has the potential to grow at 15-20% because the category remains under-penetrated, said Parle.

GST impact: Cheaper to eat sweets at shop counter than seated at table

If you have the sweet at the counter and walk out after paying the bill, many mithaiwalas will charge 5% GST. But if you decide to enjoy it after asking a waiter to get it, the shop may ask you to pay 18%, if it’s air-conditioned. It is the same for dhokla, the favourite Gujarati snack.

Note ban, GST hit sales, says Coca-Cola

Beverage makers' bottling operations declined in the June quarter

Nestle India profit up 10% at ₹263 cr

Nestle India said the board had declared a second interim dividend of ₹15 per equity share for 2017.

Mondelez India, Amazon tie up to sell chocolates online

Amazon India Director, FMCG, Saurabh Srivastava said has over 20 lakh products under the FMCG category for consumers to choose.

After lizard found in food, RK Caterers set to lose Poorva Express contract

After the incident, the Divisional Railway Manager (DRM) of Danapur Kishor Kumar and other officials took stock of the issue, inquired about the health of the passenger and gave him the requisite medicines.

A French chef who loves Indian spices

The chef has a specialty of combining French techniques with Indian flavours in order to create what he calls 'Indo-French cuisine'.

Mondelez India, Amazon tie up to sell chocolates online

The Chocolate & Sweet Store will focus on the gifting segment and tailor offerings for individual consumers – enhancing its gifting portfolio.

Amazon says Prime Day saw big boost for Indian sellers shipping to overseas buyers

Indian sellers shipping their ware to international customers saw their sale-day volumes nearly double, the ecommerce giant reports

In-store Associates at the heart of enhanced shopper experience

Technology plays an important role in shaping the customer experience in-store. And the in-store associate is at the heart of the unique shopping experience that retailers want to provide their customers. Technology needs to enable in-store sales associates to go beyond merely assisting shoppers and become product experts, while increasing brand visibility and offering better customer experience.

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