Aug 1, 2016 - Banks set to launch schemes to tap pay commission bonanza

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Sree Vijaykumar From the Editor's Desk This fascinating piece titled 'How Jerry Yang killed Yahoo, by Saving it', discusses how ironically, the Yahoo sale became an inevitability not in spite of Yang's amazing Alibaba heist, but because of it. Here's Bloomberg View's Matt Levine's comments on it. ".. what is much more shameful is that the whole point of Yahoo as a company right now is to not pay taxes on Alibaba. I realize that seems a bit hyperbolic, but just look at those numbers. Those Alibaba taxes are worth at least two and a half times the value of Yahoo's entire business. If there was a way to avoid paying taxes on the Alibaba shares that involved burning all of Yahoo's actual businesses to the ground, Yahoo should do that all day long, and then do it again the next day. It would still add shareholder value". Read the full article here. Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails. Banks set to launch schemes to tap pay commission bonanza “We will launch SBI Privilege to suit the needs of the borrowers who will be benefiting from the pay commission,” said SBI managing director Rajnish Kumar. Healthkart raises Rs80 cr from Sequoia, Kae Capital, others Firm will use funds to enhance marketing initiatives and offline expansion, says founder Sameer Maheshwari Blackstone may invest Rs300 crore in Paranjape unit Talks at due diligence stage; move highlights PE firm’s intentions to get into development of real estate projects Where are the key figures in the NSEL saga now? We take a look at the key people in the NSEL drama and what they are doing now Fulcrum Ventures plans to raise up to `800 crore for new fund Fulcrum to raise funds from both domestic and overseas LPs, with more than half the money coming from overseas Maini Precision seeks to raise up to Rs500 cr from PE funds Maini Precision Products likely to drop IPO plans; funds raised to be used for a new manufacturing facility and other capex to increase capacity Bad loan problem at ICICI Bank far from over The rise in bad loans took its toll on income growth, as widely expected, with net interest income rising a mere 0.9% year-on-year Government open to deliberation on merger of state-owned oil firms: Dharmendra Pradhan Government open to deliberation on merger of state-owned oil firms: Dharmendra Pradhan - In the wake of falling crude oil prices, the profits and margins of state-owned E&P (exploration and production) firms ONGC and Oil India were getting eroded. DLF rental arm stake sale likely to be concluded by September Blackstone, GIC and Abu Dhabi Investment Authority shortlisted for deal which is estimated to fetch around `12,000 crore for DLF EXIM bank raises $1 bn by selling bonds to overseas investors Initially announced for USD 500 million, the issue was upsized to USD 1 billion based on strong demand from the investors, Exim Bank said in a statement. Future Lifestyle to raise Rs500 crore to fund fashion retail business Future Lifestyle looks to raise the said amount by issuing non-convertible debentures ‘One nation, one tax’ to eliminate corruption: Arun Jaitley on GST Arun Jaitley says the ‘one nation, one tax’ regime will reduce the taxation levels and also eliminate corruption 1% saving in corporate debt market will be huge boost to economy: Experts No losses of job, salary in SBI merger: Arundhati Bhattacharya Banking operations across the country were hit on Friday as nearly a million employees of private and state-run banks struck work for a day to protest. India is going to be a services-driven economy: Nilekani CHENNAI: THE path to India’s growth, unlike other countries, cannot be fostered through export but will be led by thousands of small businesses, believes Nandan... By July 31, 15 banks to roll out unified payment interface Customers can have a single virtual identity for a bank account through which they can make and receive payments digitally. ICICI Bank sets up top team to track loans, sound 'NPA' alert The group will be separate from existing loan-monitoring teams and is a result of suggestions by consultant McKinsey, Kochhar said. LeEco starts offline sales, targets local production from September Chinese firm LeEco eyes bigger chunk of India’s smartphone market, also close to finalizing the location for its local manufacturing unit Excited about hyper-local business, says Amazon Amazon India today said it is excited about the hyper-local e-commerce segment and hinted at expanding its 'Amazon Now' service beyond Bengaluru despite existing players facing multiple challenges. Competition Commission dismisses complaint against e-retailers Rejecting the complaint, Competition Commission of India also said it appears allegations are regarding abuse of collective/ group dominance. Coca-Cola Q2 volumes up 3% Competition from healthier, functional drinks in urban markets and low discretionary spending in rural areas also impacted sales, an industry official.. E-commerce troubles: CXO salaries lose steam Many who got swept up during the boom of 2014 and 2015 are getting back to lower-paying but stable jobs at half their previous salaries in some instances. No plans to shut jewellery business: Reliance Retail Mukesh Ambani-led Reliance Retail may soon exit its jewellery business in the face of stiff competition from regional players. The company operates a chain of jewellery stores under Reliance Jewels brand with more than 50 outlets under its belt. E-commerce to help add 12 million jobs in next 10 years: Pranjul Bhandari, Chief India Economist, HSBC We are actually just seven years behind where China has been in terms of ecommerce and we are at a point from where China really took off very rapidly FIPB nod for Tommy's e-tail biz, own stores American fashion apparel major Tommy Hilfiger received Foreign Investment Promotion Board (FIPB) approval to run own stores and start e-commerce in India. The approval, granted earlier this week, came nearly four years after its Indian arm, Tommy Hilfiger Arvind Fashion, first moved the application, said a source directly familiar with the matter. French luxury label Longchamp plans to open six stores in India Longchamp owns more than 300 exclusive stores globally and retails from another 1,500 points of sale and has a workforce of around 3,000. PC Jeweller raising $38mn from Fidelity Delhi-based jewellery retailer PC Jeweller Ltd is raising Rs 257 crore($38.2 million) from US-based investment firm Fidelity to support its expansion through small sized and franchised stores. The firm said on Wednesday that its board has approved the preferential allotment of compulsorily convertible preference shares to several investment entities under Fidelity. It did not share further details. But based on last traded price of PC Jeweller a day ahead of the announcement, Fidelity run funds would pick around 3% stake, as per VCCircle estimates. Telcos seek uniform GST rate across India, cap at 15 per cent A higher GST rate, they said, would drive up cost of provisioning services, and in turn, hurt both prepaid and postpaid consumers by way of higher phone bills. Modi's call to celebrate festival of freedom  Prime Minister Narendra Modi today asked people to send him ideas for his upcoming Independence Day speech. 'Woman's phone was active till 2pm' The cellphone of the woman who was found murdered at Lohia Vihar colony in Indiranagar has given first set of clues to police team working on the case. Telecom industry to fuel India's growth Twenty years and counting, India's mobile telecom industry is still going strong and has been one of the most dynamic sectors that has not only evolved with time but has also played a crucial role in shaping India's vibrant economy. Right from the days of the bulky luggable handsets to this age of 4G, India's mobile telecom industry has certainly been a vital cog in the wheels of its development. Corning gears up for 'Gorilla Glass' war in India Sees rising market in sync with booming smartphone usage Kashmir: pro-India politician resigns after boycott call Srinagar: A senior leader of National Conference called it quits and joined people in Anantnag, the epicenter of ongoing wave of protests in Kashmir. The NC l Kuwait's Zain telecom Q2 profits rise 14% Kuwait City, July 31, 2016 (AFP) -Kuwaiti telecom giant Zain's net profits in the second quarter rose 14 percent despite currency losses and its operations in conflict zones, the company said Sunday. Zain said it posted a net profit of 45 million dinars ($149. Death toll in Kashmir clashes rises to 49; curfew continues Mobile Internet services continued to remain snapped in the Valley where the postpaid mobile telephony services have been restored across all networks. Nasscom, Vodafone foundation launch 'Mobile for Good Awards ... Vodafone Foundation announced launching of the sixth edition of its 'Mobile for Good Awards 2016' in partnership with Nasscom Foundation. Mobile thief falls into well, dies 193 words Coast rejects total bandh call over Mahadayi issue Normal life was hit in Karnataka on Saturday following a bandh called by pro-Kannada and farmers organisations, protesting the Mahadayi Water Dispute Tribunals interim order rejecting the states petition seeking 7.56 tmcft for drinking water projects. Mobile connectivity may soon get better in Delhi Spending a few hundred crores may get you an address in Delhis prestigious LBZ (Lutyens Bungalow Zone), but not mobile connectivity. Golf Links, Jor Bagh, Moti Bagh, Chanakyapuri, Connaught Place, Bengali Market and practically the entire New Delhi have been suffering a cripplingly bad network issue for decades. Experts call for scrapping of Eamcet citing loopholes At a time when the government is bracing itself to spend another Rs 2.5-3 crore to conduct Eamcet-II for the second time, experts are questioning the very existence of the entrance exam. Infosys elevates Rajesh Krishnamurthy as president Infosys has elevated Rajesh Krishnamurthy, executive VP and head of energy and utilities, and telecommunications, as president.This takes the overall number of presidents in the company to four. Mobile cancer detection unit camps in Pondy Mobile cancer detection unit camps in Pondy Separatists extend shutdown call to Aug 5 Separatists extend shutdown call to Aug 5 Xiaomi Redmi 3S India launch in August: Budget phone coming in two variants Xiaomi Redmi 3S will be unveiled in India by baking a fingerprint sensor and a battery with fast charging support at a budget price. Don't call dance songs item numbers: Aditi Who ever gave the term 'item number' to a dance accompanied by a catchy song in Bollywood films with suggestive side glances... These startups pushing augmented reality forward in India With smartphones getting smarter, augmented reality (AR) mobile games like Pokemon Go are trending among the gadget freaks across the world. India gets 'big mention' at Amazon's earning's call Amazon founder & CEO Jeff Bezos singled out India for a specific and elaborate mention in the second quarter results announcement. India found a mention in Pichai's address during Google's earning call, listen in to what he had to say India found a special mention during Google-owned multinational conglomerate Alphabet's earnings call this week. India-born Google CEO, Sundar Monetizing the mobile in 2016 Since the 80’s, the Indian telecom sector has grown in distinct phases. Phase 1 (1980-89) was the Pre-liberalization era of providing basic services. 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