The Securities and Exchange Board of India (SEBI) has initiated talks with the Reserve Bank of India (RBI) to allow foreign portfolio investors into the commodity derivatives market. “We are already in talks with the RBI on this matter,” SEBI Chairman U.K. Sinha said on the sidelines of an event on the completion of one year of merger of Forward Markets Commission (FMC) with SEBI. Read more
At a time when Baba Ramdev’s Patanjali Ayurved has been advancing rapidly in the FMCG market, Dabur India claims it is seeing customers returning to its fold after “flirting” with lower priced products from rivals. “Honey was the only category that was impacted by Patanjali. There too, we are now seeing consumers, who had flirted with cheaper honey, return to Dabur. Read more
US-based retail corporation Wal-Mart Stores Inc is in talks to buy a minority stake in Flipkart, two sources familiar with the matter said, as the world’s biggest retailer aims to get a slice of a fast-growing online retail market. One of the sources said the US retailer was looking to invest between $750 million and $1 billion in Flipkart, but the final value and size of the stake would depend on the outcome of talks about the e-tailer’s overall valuation. Read more
Japanese auto major Nissan has launched Datsun redi-Go Sport, a limited edition variant of its recently launched hatchback redi-Go, priced at Rs 3.49 lakh (ex-showroom Delhi). The new variant, which comes with various additional features like rear parking sensor and black interiors, will be available for sale during the festive season.
The company named Olympics medal winner Ms.Sakshi Malik as the brand ambassador of the redi-Go Sport. Read more
Of the 650 million users expected to be using Internet in India by 2020, a whopping over 61 per cent will be accessing it in local language, forming majority of the online population, according to technology giant Google. At its “Google for India” event, the US-based firm said the number of internet users in India will jump 85 per cent from 350 million in 2016 to 650 million by 2020. Read more
India has risen rapidly among all countries in the global competitive stakes by climbing 16 notches to the 39th position during the past year in the WEF’s Global Competitiveness Index. According to the World Economic Forum’s (WEF) latest Global Competitiveness Report for 2016-17 this marks the biggest scale of improvement in competitiveness among all countries and is the second year in a row India has gone up 16 ranks in the WEF index. Read more
Five states -- Gujarat, Rajasthan, Karnataka, Uttarakhand and Chattisgarh – signed 86 MoUs worth close to Rs.15,000 crore during the recently concluded Incredible India Investors’ Summit. Read more
For the last one-and-a-half years, India has been the fastest growing air traffic market in the world. In July, domestic air travel in India grew 26.2 per cent with China being the second-fastest growing domestic market (10.2 per cent traffic growth), according to the International Air Transport Association (IATA). Read more
Many Yahoo users rushed on Friday to close their accounts and change passwords as experts warned that the fallout from one of the largest cyber breaches in history could spill beyond the internet company’s services. Read more
Chinese smartphone Huawei on Friday announced that it will start to manufacture smartphones in India from next month, in partnership with Flex. "Starting from first week of October 2016, the Flex manufacturing plant in Chennai will manufacture one of the Honor smartphones models," the company said. Read more
Stressing that the new indirect tax regime is a major tool for improving ease of doing business, Minister of State for Finance Arjun Ram Meghwal today said the government will be able to implement Goods and Services Tax (GST) from April 1, next year. Read more
The Centre has notified the scrapping of toll tax collections on small road stretches and bridges developed at a cost of less than Rs.100 crore. Analysts, however, expect only marginal relief for commuters as such road stretches are few and far between. Read more
Chinese technology conglomerate LeEco on Thursday launched its new flagship “superphone” Le Pro3 which is world’s first device to sport Qualcomm Snapdragon 821 chipset which works 10 per cent faster than its predecessor. Le Pro3 has four variants: 4GB+32GB, 6GB+64GB, 4GB+64GB and 6GB+128GB. Read more
Ending a 92-year-old tradition, the Union Cabinet on Wednesday decided to merge the Railway budget with the General budget and agreed in principle to advance the date of its presentation in Parliament. Read more
The Federal Reserve is keeping its key interest rate unchanged but signalling that it will likely raise rates before year’s end. The Fed said in a statement ending its latest policy meeting Wednesday that the U.S. job market has continued to strengthen and economic activity has picked up. But it noted that business investment remains soft and inflation too low and that it wants to see further improvement in the job market. Read more
The digital classified industry is projected to grow three times to $1.2 billion, on the back of growing smartphone penetration and Internet user base, according to a joint-report by Google and KPMG.
The industry was pegged at $150 million in 2011 and is estimated to have been about $400 million in 2015. Read more
The Union Cabinet has approved the long-pending compensation of Rs.1,250 crore for state-run Bharat Sanchar Nigam Ltd. (BSNL) for the deficit incurred in operating rural landline connections installed before April 1, 2002. Read more
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