Feb 23, 2016 - HSBC facing probe for ‘abetting' tax evasion

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Sree Vijaykumar From the Editor's Desk In today's age of urbanization and nuclear families, many people lead busy but lonely lives. Help has come from an unexpected quarter in China - Uber. Yes, some upper middle class Chinese are signing up as drivers for Uber to meet new people and go to new places. The short duration of the taxi ride keeps the interaction low stress, while keeping the option to meet again open. This fascinating article follows the lives of a few Uber drivers in China and the non-monetary benefits they get from the job. I wonder if Kalanick had ever imagined his company would help solve the loneliness problem - Comment Complimentary Report :Convergence, Competition, Commotion- Insights from the Global C-suite Study - The CMO perspective As customer experiences take center stage, the role of the CMO is expanding into new territory. The study investigates how the top 6% of CMOs are successfully taking the reins. Read on to know more as to how a modern day CMO embraces creative destruction by enriching the arc of engagement and Increasing the digital acumen. Freshdesk buys Framebench, its fourth acquisition in seven months With its acquisitions, Freshdesk is looking to plug gaps in its product portfolio, and augment its offerings without having to build technologies Where does the long-term investor hide? Owning parts of superior businesses with expanding consumer franchises and cost and technology leadership in growing markets is the place to be Advisers backed Raghuram Rajan on policy status quo Four out of the five external members recommended status quo at the review, RBI said in a statement Kevin Rudd: Bringing India's growth online Observers will be looking for signs that India, today the world's fastest expanding economy, will continue to grow at pace, and help shore up a slumping global economy RBI cancels Bajaj Auto, IDFC Finance, and 24 others' NBFC registration RBI cancels Bajaj Auto, IDFC Finance, and 24 others' NBFC registration - The Reserve Bank can cancel a certificate of registration granted to a non-banking financial institution on various grounds including when a company ceases to carry on the business of an NBFC in India. Government seeks to raise Rs5,000 crore from 5% stake sale in NTPC The government has set a floor price of Rs122 per share for the sale that will help raise a little more than Rs5,000 crore How Indian households borrow IHDS data shows that marriage in the family is one of the main reasons for borrowing, both in urban and rural areas Budget 2016: Tax wish list for the private equity sector Characterisation of income from the sale of securities as business income or capital gains has created tax uncertainty for investors over a long period of time. Competition Commission of India approves Reliance Communications-Sistema Shyam merger The transaction will add high data users to RCom's client base and give the companyairwaves to move its CDMA customers and free up existing airwaves for trading. Will bank bad assets affect your deposits? The RBI has been conducting asset quality reviews across banks and governor Raghuram Rajan has stressed on better NPA recognition to ensure that the problem is addressed well in time rather than stretched or swept under the carpet India market ripe to start buying based on Warren Buffett's principle of investing The Indian market might be in a bear phase, but experts are already advising investors to buy into fear. This is in line with Buffetts style of investing. World Bank arm IFC eyes Rs 170-crore investment in Lenskart IFC is looking to invest up to $25 million or Rs 170 crore in Lenskart Solutions according to a disclosure on the firms website. Paytm plans to launch ecommerce platform for luxury products; ropes in Gucci, Furla and Burberry Paytm has roped in marquee luxury brands like Gucci, Fendi, Furla and Burberry for its mobile luxury platform Anasa and is courting more brands. Patanjali Ayurved injects new life into herbal market, helps rivals sell more personal care products In shampoos, sales of Ayurvedic brands more than doubled to 194 per cent, while for MNCs, it declined to 15 per cent from 21 per cent earlier. Have Biyani and friends slowed e-retailers? Offline retailers have reported strong earnings in the Dec-ended quarter, while online retailers continue to bleed. But the business case for e-retail remains strong Heritage Foods eyes Rs 1000 crore turnover by FY19 City-based Heritage Foods Ltd is targeting Rs 1,000 crore turnover from its retail business by FY19. The company which is also into dairy and several other businesses clocked Rs 495 crore turnover in retail last fiscal through its 105 operational Heritage Fresh stores and plans to reach Rs 600 crore mark this fiscal. It has also drawn plans to invest Rs 20 crore. We haven't seen a slowdown in rural markets: PepsiCo India CEO Shiv Shivakumar - Shiv Shivakumar speaks to Ashish K Tiwary on why Make In India is critical for the country. Freedom 251 mobile: Similar 3G smartphone would cost Rs 2300-Rs 2400, DoT says Freedom 251 mobile: After a sensational launch, Ringing Bells Freedom 251 mobile has run into accusations of scam and worse, with questions being raised over the price of Rs 251 that has been advertised for this 3G handset by its chief Mohit Kumar Goel. Stepping in to clear the rumours, the Telecom Ministry says that it has found that a device with similar specifications to Freedom 251 would be priced at about Rs 2,300 - many have pointed out that the phone's price should be anything between Rs 4,500 to Rs 3,500 if the company does not want to run into losses. Wipro, Verveba Telecom join hands over mobile RAN solutions The partnership brings together Wipro’s expertise in telecom sector and Verveba’s award winning Mobile Radio Network Optimization technology with services, intellectual property and solutions of both organizations. 5G: How world's fastest mobile network is being built Researchers and world's biggest tech companies are collaborating to offer mobile Internet speeds more than 100 times faster than anything now available. CCI okays RCom's acquisition of Sistema's Indian telecom unit Sistema Shyam Teleservices Ltd, a unit of Russia-based Sistema, operates under the MTS brand in India. Facebook Telecom Infra Project launched to help boost internet connectivity Facebook has announced a new Telecom Infra Project as part of its overall Internet.org mission. Here's what the mission seeks to do. Did Budget 2015 help India's incentive-starved Telecom Sector? The Finance Ministry has long acknowledged the significance of the telecom sector in the growth of the economy. However, many of the sector's growth centric Mobiles making India less cash conscious A generational shift is taking place in the way Indians make payments Fund transfers through mobile are growing much faster than other payment modes and payments through cheques continue to fall. Bangalore-based BabyBerry secures $1 million in angel funding, led by businessman Nitin Bagamane with participation from Vinay Goyal, Founder of Instavans Bangalore-based BabyBerry, a mobile app that gives advice and information on kids aged 0-3 years, has secured $1 million in angel funding Infosys rolls out delayering exercise : Reverses the organizational pyramid CEO Vishal Sikka who refers to this model as the “reverse pyramid” elaborated on the model at the Kotak Institutional Equities Investor Conference — Chasing Growth 2016 in Mumbai. TCS, Infosys and multiple players vie for Paytm’s Rs 125-crore IT deal Oracle, Infosys and TCS are in the running for core banking services for payments, while Wipro and TCS are in the fray for being the system integrator. Govt plans to use software and cyber cell to counter 'negative' online news Every time a negative narrative surfaces, a possible counter would be initiated — through press releases, briefings or press conferences, depending on the intensity or standing of the post,” said sources. Cisco, Edugild sign MoU to support education tech startups in India Edugild, the country's first edtech start up accelerator completed its three-day boot camp at the Maharashtra Institute of Technology (MIT) in city. Global Internet population grows to 3.2 billion, says study The number of people worldwide with Internet access reached 3.2 billion at the end of 2015, but the remaining 4.1 billion still could not get online, a Facebook-sponsored study showed. Government launches EDF under 'Digital India' to fund ideas Here is the funding you've been waiting for! India decides to disallow software patents The patent office’s announcement follows its stay on the revised guidelines which were published last August Vishal Sikka bets on virtual reality : Wants Infosys to cut bench and increase automation Reiterating his vision of making Infosys a $20 billion company by 2020, Sikka for the first time spoke about some of Infosys' futuristic work. Intel and AT&T join hands to test drone technology Wireless provider AT&T said on Monday it will partner with chipmaker Intel to test the functionality of drones on its high-speed LTE wireless network. 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