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How to set up a Chinese company as a foreigner

10Jan By AnkitaNo Comments

CHINA

How to set up a Chinese company as a foreigner

Every country has its own set of rules and regulations when it comes to setting up a business. China is no exception, but what are some of the challenges for foreigners setting up a business in China? Michael Michelini, will tell you how? A, 34 years, old Shenzhen-based American internet dude helping western companies leverage Chinese social media for business. Michelini is also the author of Destination China: Entrepreneurs’ Journey from Wall Street to business in China. What are some of the difficulties a foreigner faces opening and operating a business in China? Michelini: It’s a lot more difficult as a foreigner to open a company in China, it’s not the same as a Chinese person opening a company in China. Also maintaining a business is harder than for Chinese companie...

China’s Drone Maker Comapny Ehang Unveils First Passenger-Carrying Drone

8Jan By AnkitaNo Comments

CHINA, Tech

China’s Drone Maker Comapny Ehang Unveils First Passenger-Carrying Drone

LAS VEGAS, United States, Jan. 6 (Xinhua) -- Chinese drone maker Ehang on Wednesday, unveiled the world's first drone capable of carrying one passenger, which might help achieve the long-standing dream of automated short-to-medium-distance everyday flights. The electrically powered Ehang 184, unveiled at the 2016 Consumer Electronics Show in Las Vegas, can carry a single passenger weighing up to 100 kg for a 23-minute flight at sea level at a speed of 100 km per hour, the company said. After setting a flight plan, passengers only need to send two commands: "take off" and "land," each controlled by a single click on an accompanying tablet, it said. There's no need for a runway because the drone takes off and lands vertically. "Due to the 184's fully automated navigation, made possibl...

5Jan By AnkitaNo Comments

INDIA

Digital India – Har ki Pauri and Ajmer Sharif Will connect with Free Wi-Fi Soon

Har ki Pauri and Ajmer Sharif, religious places of India are set to be the part of Digital India campaign. Very Soon the tourists and residents will be able to access free wi-fi services at those religious places, Thanks to BSNL. The state run operator will offer free Wi-Fi for first 30 minutes for consumers and then it will be charged at Rs 30 per hour there on. BSNL in association with Trimax (Trimax IT Infrastructure and Services), an IT services provider has put the required infrastructure at Har Ki Pauri and Ajmer Sharif to offer free Wi-Fi service. Trimax is installing nine Wi-Fi access device at each location so that subscribers can get quality coverage. Har ki Pauri Har Ki Pauri is a famous ghat on the banks of the Ganges in Haridwar. It is believed that it is a preci...

4Jan By AnkitaNo Comments

INDIA

Indian Minister Nitin Gadkari to Automakers: Develop Tech For Engines

New Delhi- (PTI) Calling upon automakers to develop homegrown technologies to build environment-friendly car engines under the Make in India drive, Union Minister Nitin Gadkari today said encouraging such endeavours will help them save on huge royalty costs. "Even today despite more than 90 per cent indigenisation some of our car manufactures have been paying royalties for technology of over Rs 4,000 crore every year. They will not be required to do so if they develop indigenous technologies," Road Transport and Highways Minister Gadkari told PTI. The automakers should encourage indigenous technologies under Make in India drive, the minister said while stressing that nation is battling with the problem of pollution and this could be their contribution to check it. Citing example o...

31Dec By AnkitaNo Comments

Story

Video: The Story Of O2O (Online to Offline) Market In China

Online to Offline is a rather new but hugely popular concept in China’s E-commerce scene. Consumers place an order and make the payment online to receive offline goods or services. Now, this Internet-based business model is reshaping the home renovation market. Office worker of China, Mr. Ke Yong plans to renovate his apartment. Instead of going through the hassle of visiting different renovation companies for help, he has chosen a mobile app called Huizhuang to find a contractor. O2O renovation has become an increasingly popular option for renovation customers in China, with more economical, convenient, and transparent services, a reputation not so often associated with the traditional renovation industry. Part 2: Riding the O2O tide Liu Yuxi established Huizhuang in May 2013...

29Dec By AnkitaNo Comments

CHINA

Due to string of fraud cases in recent years, China Central Bank introduced rules on online payment

BEIJING, (Xinhua) -- China's central bank released detailed regulations of online payment services by non-bank institutions on Monday in the latest effort to contain possible risks in the booming Internet finance industry. The new rules require real-name registration for all non-bank payment accounts and classifies them into three categories depending on the security levels. The size of payments allowed through such accounts will then range from 1,000 yuan (155 U.S. dollars) to 200,000 yuan per year. Transactions through banking payment platforms would not be restricted by the regulation, the central bank said.. The aim of the policy is partly to avoid large sums of money being deposited in third-party payment accounts, which are beyond the protection of bank deposit insurance and...

What Google and Richard Branson Can Teach Us About Success

28Dec By AnkitaNo Comments

INSPIRATIONAL, Story

What Google and Richard Branson Can Teach Us About Success

It’s all about seizing opportunities. The Entrepreneur Insider network is an online community where the most thoughtful and influential people in America’s startup scene contribute answers to timely questions about entrepreneurship and careers. Today’s answer to the question “What’s something you wish you knew before starting your business?” is written by Alexander Goldstein, founder and CEO of Eligo Energy. The main thing to remember whenever you decide to become an entrepreneur is that, at some point, your idea and your business will grow far beyond you while simultaneously taking over your entire life. It sneaks up on many aspiring entrepreneurs, and they’re left wondering how it all happened so fast. One day you have a great idea, and the next you’re on your way to become the next Ri...

25Dec By AnkitaNo Comments

ANALYSIS

Analysis: Expedia Vacation Deprivation Report 2015

New Delhi, Delhi, India - Business Wire India Expedia, one of the world's largest full-service online travel sites, today released the results of the 2015 Vacation Deprivation study, an annual study of vacation habits across multiple countries and continents. The survey highlights that India is the fourth most vacation deprived nation globally, with 65% of Indians saying they feel very or somewhat vacation deprived, and 20% saying they are very vacation deprived. “Vacations play a critical role in creating a work-life balance as it reenergizes people to be more focused at work (53% Indians agree). According to Expedia’s 2015 Vacation Deprivation Survey, 54% of Indians would prefer more vacation days over a pay rise, the highest globally. Although, the cost of taking a vacation is often w...

JustRide in Google Launchpad list, to get equity-free seed funding

25Dec By AnkitaNo Comments

News

JustRide in Google Launchpad list, to get equity-free seed funding

Self-drive car rental aggregator JustRide will get up to $50,000 (around Rs 3.3 million) in equity-free seed funding from Google as part of being selected for the internet giant’s startup accelerator programme, Google Launchpad. Google Launchpad is specifically for mobile startups in India, Brazil and Indonesia. The Launchpad accelerator provides a two-week mentorship programme, up to $50,000 in equity-free seed funding and a further $250,000 of assistance including access to Google’s products such as Maps and Adwords and financial assistance for office space. The accelerator programme kicks off on January 18 in Silicon Valley with its first batch of companies. JustRide is currently in the process of raising Series A round of funding which it plans to use to scale services to o...

Dr Lal PathLabs sees blockbuster listing on BSE; stock up 31%

23Dec By AnkitaNo Comments

News

Dr Lal PathLabs sees blockbuster listing on BSE; stock up 31%

Shares of India's biggest diagnostic chain Dr Lal PathLabs listed with a strong premium of almost 31% over the issue price of Rs 550 on Tuesday. On BSE, Dr Lal's stock opened at Rs 717, up 30.36% as against the issue price. Within minutes of trade, it touched a high of Rs 747 and a low of Rs 715.50. The stock listed at Rs 720, a steep gain of 30.9% on NSE. The company commands a market valuation of Rs 6,142.16 crore. Dr Lal's IPO was a big success with 33.41 times over-subscription. In the IPO, the qualified institutional buyers (QIBs) part was subscribed 63.56 times and non-institutional investors saw 61.28 times subscription. The retail investors category was subscribed 4.24 times. Prior to Dr Lal's IPO, Alkem, S H Kelkar, VRL Logistics, Power Mech Projects and Syngene Intern...

Softbank Q2 FY2015 Results: Snapdeal 4x sales, “Ola +1 million booking requests and Inmobi 1 billion” per day users

23Dec By AnkitaNo Comments

Story

Softbank Q2 FY2015 Results: Snapdeal 4x sales, “Ola +1 million booking requests and Inmobi 1 billion” per day users

As we reported 4 months back, Ola received 750k bookings per day requests and covered 80% market in India. Now the Softbank Q2 report shows Ola has touched 1 million bookings per day. Even more eye-popping result is "InMobi 1 billion" per day users". Have a look on some more points in this Q2 report, Alibaba's Revenue > China's GDP In reports, the most revenue in the Internet world for Softbank group, still comes from Alibaba. Alibaba's YOY 2015 in 32%, which is far more than China's GDP. Snapdeal Sales increases 4X rate - Ola touched 1 Million booking Requests per day - InMobi "The winner" have 1 billion active users and used across 190 countries

Accel Partners sells fractional stake in Flipkart to Qatar Investment Authority for $100 million

21Dec By AnkitaNo Comments

News

Accel Partners sells fractional stake in Flipkart to Qatar Investment Authority for $100 million

Accel Partners has sold a fractional stake in Flipkart to Qatar Investment Authority for $100 million (about Rs 650 crore), in a deal that values India's biggest online marketplace at $15 billion, according to two people aware of the transaction. Accel, the first venture investor in Flipkart, remains the second-largest shareholder in the e-commerce company behind New York-based hedge fund Tiger Global Management. Qatar Investment Authority, the sovereign wealth fund of the Arab nation, was one of five new investors in Flipkart in December 2014 when the online retailer raised $700 million at a valuation of $11 billion. Flipkart, in a recent regulatory filing, posted a loss of about Rs 2,000 crore for the fiscal year ended March 2015. Valuations of Indian internet companies are be...