Page 21 - Companies

StoreHippo launches vertical marketplace solution for brands to strengthen online presence

New Delhi, Apr 24 (ANI): StoreHippo, the leading SaaS e-commerce platform launches vertical marketplace solutions for single brand enterprises to build and grow their own online brand presence. This addition to StoreHippo, offers enterprise businesses a strong alternative to selling on popular horizontal marketplaces. With this latest offering, the flexible ecommerce platform comes to the rescue of brands that opt for selling on public marketplaces lured by instant boost in sales and integrated supply chain. StoreHippo's powerful vertical marketplace solution supported with B2B features has been successfully implemented by a number of single brand enterprises. It has helped them overcome the challenges they faced on the popular horizontal marketplaces.

Recruitment growth eases to 3% in March '18

New Delhi, Apr 22 (ANI): A recent report published by online job portal, Naukri.com, reported a three percent hike in hiring activity in March, down from six percent in the previous month. As per the Naukri JobSpeak Index, hiring in March was pegged at 2,129, marking a three percent increase from March last year. Furthermore, a quarterly comparison of hiring activity indicated a seven percent rise in Q4 2017-18 compared to the corresponding quarter in the previous fiscal. The growth in hiring was led by metro cities, with Mumbai and Kolkata registering a growth 11 and 20 percent respectively in Q4 2017-18, compared to the same period last year. The report also highlighted a 32 percent rise in hiring across jobs requiring production and maintenance as a key skill in the fourth quarter.

IOB inks information utility pact with NeSL

New Delhi, Apr 21 (ANI): Indian Overseas Bank (IOB), one of the leading public sector banks, on Friday entered into an agreement for information utility services with the National E-Governance Services Limited (NeSL). The NeSL became India's first information utility (IU) for bankruptcy cases under the 'Insolvency and Bankruptcy Code (IBC) 2016' in October 2017. With this agreement, the IOB branches will be able to provide high-quality, authenticated information about debts and defaults; which will have more transparency in maintaining the list of borrowers, debtors, creditors and loan defaulters.

Is cash crunch affecting printing machinery business?

New Delhi, Apr 21 (ANI): When asked about whether the alleged cash crunch in the country is also affecting the printing machinery business, deputy managing director Sangam Khanna from Komori, the company which is among the top two companies worldwide engaged in providing currency printing machines, said that their business supplies the equipment as and when asked by the Reserve Bank of India (RBI).

Lemon Mobiles to set up manufacturing unit in Noida

New Delhi, Apr 20 (ANI): Lemon Mobiles, a home-grown mobile brand from Lemon Electronics Limited, announced the establishment of a new manufacturing unit for mobile phones and LED TVs at Noida. With an estimated investment of Rs 150 Cr, the proposed facility will be equipped to produce one million mobile handsets and 60K LED TVs per month. After the plant comes into operations in 2020, the company aims to hit Rs.1000 crore top line in the next three years. It also plans to set up an R and D and Testing Lab facility in Shenzhen, China to design the next-generation mobile handsets.

Amazon stock up as the company reaches 100 million Prime subscribers

New Delhi, Apr 20 (ANI): Amazon's shares rose after CEO Jeff Bezos told shareholders that it has more than 100 million Amazon Prime members globally. That rise came on top of more than a 70 percent upturn in the last 12 months. Prime Now, a service that offers free delivery within two hours, is now available in more than 50 cities spanning nine countries.

World Bank predicts 7.3% growth for India in 2018

New Delhi, Apr 17 (ANI): The World Bank on Monday noted that the Indian economy has recovered from the effects of demonetisation and the Goods and Services Tax (GST) and predicted a growth rate of 7.3 percent for the country in 2018. Further, the apex international financial institution forecasted a rate of growth of 7.5 percent for 2019 and 2020. The World Bank in its twice-a-year South Asia Economic Focus report said that the growth is expected to accelerate from 6.7 percent in 2017 to 7.3 percent in 2018, and will subsequently stabilise, supported by a sustained recovery in private investment and private consumption. The report also noted that India should strive to accelerate investments and exports to take advantage of the recovery in global growth.

National Anti-Profiteering Authority goes online

New Delhi, Apr 15 (ANI): In a bid to ensure timely grievance redressal for consumers, the National Anti-Profiteering Authority (NAA) launched the 'Anti Profiteering' online community in association with a citizen-engagement platform, LocalCircles. The platform, comprising over 60,000 active Indian citizens, was launched in a bid to help users report cases of profiteering at the earliest, thereby ensuring timely redressal of the same.

CBDT invites comments to improve transparency in tax rulings

New Delhi, Apr 14 (ANI): The Central Board of Direct Taxes on Saturday invited comments on draft notification proposing amendment to Rule 44E, Form 34C, 34D and 34DA as per Base Erosion and Profit Shifting (BEPS) Action 5, for improving transparency in tax rulings. Under BEPS Action 5, exchange of rulings on Permanent Establishment (PE) by authority for advance rulings is required to be done with the country of residence of the immediate parent company and the ultimate parent company. To bring greater transparency in cross national transactions, Form 34C and 34D (Forms for Advance Rulings) are required to be modified.

5 student-friendly platforms to help you plan your career

New Delhi, Apr 14 (ANI): Lack of awareness and guidance among students on new career avenues often leads to confusion. Choosing the right career is about understanding the pool of choices available to an individual. Here are some platforms for students to help them plan their career ahead: BYJU's: The learning platform offers training for preparation of different entrance and competitive examinations like CAT, JEE, IAS, GRE, and GMAT. MakeMeStudyAbroad: It is a one-stop, digitally-driven platform to facilitate education planning and documentation for students planning to study abroad. Mindler: One of the most-advanced website for online career assessment, career guidance and career counselling in India, Mindler is designed for school students and graduates.

GoWork to set up 50 co-working centers across India in next 5 years

New Delhi, Apr 14 (ANI): Collaborative co-working ecosystem, GoWork, has announced its plans to establish co-working centers in Delhi and Bengaluru to cater to the rising demand in these areas. The co-working space provider, which owns the world's largest and second largest co-working campuses in Gurugram, aims to open the Delhi center for its clients by June and the Bengaluru one by the end of this year. Since its inception GoWork has become a revolution within the co-working culture in India and focuses on providing the best work-life balance to its clients.

Synup launches CoinFriendly, World's largest repository of Bitcoin-friendly businesses

New Delhi, Apr 12 (ANI): Synup, a provider of Software as a service (SaaS) based location intelligence announced the launch of a new website, CoinFriendly. The website is the single largest repository of local businesses that accept cryptocurrency for transactional purposes. It has10,717 Bitcoin-accepting businesses listed on CoinFriendly. The new website will allow Bitcoin users across the globe to identify these stores and services in 20 countries including North America, Europe, Asia, Australia and South America. There has been an increase in Bitcoin adoption rates and therefore the number of businesses that are now open to accepting any form of cryptocurrency has been soaring.

Ola continues its Australian expansion

New Delhi, Apr 12 (ANI): Following successful launches in Perth and Sydney earlier this year, ride hailing platform Ola announced the launch of operations in Melbourne. In lieu of this, Ola is offering passengers free rides from Thursday, for a limited period of time. Following the launch of operations in Australia, Ola has been positively received and achieved 15,000 registrations across the region. Ola offers driver-partners a market low 7.5 percent introductory commission rate and daily payments, helping them earn more money and access it easily. Over the coming months, Ola is working with local stakeholders to continue its rollout in Australia, with future launch cities including Brisbane and the Gold Coast, Canberra, Adelaide, Darwin and Hobart. The company is also developing a number of new initiatives for its customers and driver-partners. These include updates to the Ola app and building its local support team that will help build a better ride share experience.

SBI adopts Odisha village for digital payments

Bhubaneswar (Odisha), Apr 11 (ANI): The Kalinga Nagar branch of State Bank of India adopted a village in Purba Medinipur district of the state to familiarise the residents with cashless transactions. Following the vision of Prime Minister Narendra Modi to promote cashless economy, the bank took the initiative at Bhagabanpur to make all residents of the village to transact digitally. In their first attempt, the SBI distributed android phones with a USB based fingerprint capture device to the shopkeepers to usher in digital transactions. SBI official Praveena Kala said the initiative will make people more empowered.

Tenneco to acquire Federal-Mogul for $5.4 bln

New Delhi, Apr 11 (ANI): Auto parts maker Tenneco is buying Federal-Mogul, a maker of powertrain components, from Icahn Enterprises LP for $5.4 billion. The billionaire investor Carl Icahn's Icahn Enterprises owns a controlling stake in Federal-Mogul. Icahn's company will get $800 million in cash and $29.5 million shares of Tenneco. The deal is set to close in the second half of this year. Tenneco will then split its combined businesses into two independent publicly traded companies in 2019, one focusing on powertrains and the other part, on ride performance and replacement parts.

Axis Bank's CEO seeks shorter term, to step down in December

New Delhi, Apr 10 (ANI): Axis Bank's CEO Shikha Sharma will exit the bank on December 31, 2018, after the bank reduced her term to six months from three years at her request. Sharma has been at the bank's helm since June 2009. Her re-appointment as the managing director and CEO of the bank was revised from June 1, 2018, up to December 31, 2018. On December 8, 2017, the board had informed of its decision to re-appoint Sharma as the MD and CEO, for a period of three years with effect from June 1, 2018. The move comes amid controversy surrounding Sharma's tenure and in the wake of mounting non-performing assets (NPA) in the bank.

SBI to invest Rs 80 billion in hydropower project of Nepal

New Delhi, Apr 09 (ANI): The State Bank of India (SBI) will be investing a total of Rs 80 billion in the Arun III hydropower project of Nepal, which has 900 megawatts (MW) electricity production capacities. The SJVN, which has been awarded with the construction of the mega power project of Nepal, has made an informal agreement with the SBI to acquire the investment as loan and soon will make the formal agreement. With the completion of the project, Nepal will get 21.9 percent of the total electricity produced in a year i.e., 197 MW electricity with 86 crore unit for free in a year. The Indian Government on the other hand has made the approval of 92 billion rupees that is to be invested by SJVN. With this the SJVN will invest 25 billion of its own for the mega-project and will take the charge for 25 years excluding the time for the construction of infra. The mega project is targeted to be completed by 2022's September.

ixigo expands footprint; launches product development center in Bengaluru

New Delhi, Apr 09 (ANI): ixigo, a travel marketplace, expanded its footprint in India with the inauguration of a new product development center in Bengaluru. The center will focus on research and development of technology solutions to enhance the direct-selling capability of travel suppliers. The company also announced the appointment of Chandramouli Gopalakrishnan as the new vice president - Special Projects. "ixigo has been at the forefront of travel technology in India for the last decade. With Chandramouli leading our Bengaluru team, we will work towards developing innovations to augment capabilities of travel suppliers, and co-create cutting-edge travel technology to enhance the supplier-direct growth of our partners," said ixigo CEO and co-founder, Aloke Bajpai. ixigo has also initiated a recruitment drive to onboard designers, UI/UX engineers, backend and research engineers, thereby facilitating the expansion of the company's 120-member workforce.

7 books you should read before starting a business

New Delhi, Apr 09 (ANI): Starting a new business is not a cake walk and one needs proper and professional advice on where to start, what pitfalls to anticipate and how best to spend your time and funds. While classes, training sessions, and seminars, are a good way to get familiar with the field, nothing can beat the knowledge that books impart as they are the most accessible and affordable way to start learning. 'The Art of the Start 2.0: The Time-Tested, Battle-Hardened Guide for Anyone Starting Anything' is written by Guy Kawasaki. 'The Founder's Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup' is written by Noam Wasserman. 'Become Your Own Boss in 12 Months: A Month-by-Month Guide to a Business That Works' is written by Melinda F. Emerson. 'The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses' is by Eric Ries. 'Will It Fly? How to Know if Your New Business Idea Has Wings...Before You Take the Leap'

India's forex reserves hit life-time high

New Delhi, Apr 07 (ANI): India's foreign exchange reserves hit a life-time high of 424.361 billion US dollars, the Reserve Bank of India confirmed on Saturday. The forex reseves rose by 1.828 billion dollars in the last week of March. Earlier, the reserves had touched a record high of 421.914 billion dollars on February 9. The reserves had been fluctuating since September 2017 when it had hit the record highs for the first time. The gold reserves, however, remained unchanged at 21.614 billion dollars.