Press Trust of India | Pixr8 News

Burrp Revenues Will Touch 150 Crores in 2019

10Apr By Press Trust of IndiaNo Comments

News

Burrp Revenues Will Touch 150 Crores in 2019

Food and restaurant recommendation platform Burrp aims to garner revenues of Rs 150 crore by March 2019 as it expands services like events and offers a more personalised search experience to users. The food-tech company, which competes with the likes of Zomato, is also aiming to facilitate transactions worth Rs 1,000 crore through its platform in the same period. "Burrp earlier led the industry but then things didn't go as per plan. One of the errors was to become a listings platform for everything... Cut to 2015, we have revamped our product with enhanced features like dish discovery, an events section and trending restaurants," Burrp co-business head Abhishek Chhajlani told PTI. These additional features will make it easier for users to search for their favourite food or rest...

Lulu group to Invest Rs 5,000 Crore in India in Next 4 Years

10Apr By Press Trust of IndiaNo Comments

BUSINESS

Lulu group to Invest Rs 5,000 Crore in India in Next 4 Years

United Arab Emirates-based Lulu Group, which runs a retail chain of over 120 hypermarkets in the Middle East, has decided to invest Rs 5,000 crore in India over the next four years, largely for setting up shopping malls. The group, promoted by Indian businessman Yusuff Ali M A, has already zeroed in on constructing mega shopping complexes in Chennai, Hyderabad, Bengaluru and Thiruvananthapuram. "We are planning to invest Rs 5,000 crore in India over the next four years," said Ali, who is also managing director of the group which has operations in over 30 countries. Ali, who hails from Kerala, also said his company has decided to open 12 hypermarkets in Saudi Arabia at an investment of Rs 2,700 crore in the next few years. The Lulu group currently owns 14 hypermarkets in Saudi Arabia. ...

It’s Appraisal time: Average hike of 12% likely; top talent to get 25%

10Apr By Press Trust of IndiaNo Comments

ANALYSIS

It’s Appraisal time: Average hike of 12% likely; top talent to get 25%

It is appraisal time again and employees can look forward to an average hike of 10-12 per cent, while top performers can eye as much as 25 per cent, but this once-a-year evaluation norm may change as firms are shifting to a more regular feedback culture, say experts. Most companies have a bell curve system of management in place, which compares employees' performance relative to others and puts them in different rankings - top, average and bottom performers - with the vast majority being treated as average performers. HR experts believe however that times are changing and more and more companies are planning a revamp of their appraisal systems, opting for a more regular feedback based review systems. "Eliminating bell curve/forced distribution or going 'rating less' is undoubted...

9Apr By Press Trust of IndiaNo Comments

INDIA

Defence Ministry of India To Promote Startups: Manohar Parrikar

Defence Minister Manohar Parrikar on Friday said his ministry was in the process of formulating a special programme to promote startups. "The defence ministry will start a programme to promote startups. The ministry has never done something like this before but is going out of the way into (doing) something different," Parrikar said at the inauguration of a business incubation centre here. Parrikar, a former Goa chief minister, said he was keen on offering defence ministry-related research and development projects to the coastal state. "There is an open offer to the Goa government... in another month or two, we can work out a mechanism to ensure that the talent among the Goans doesn't go waste," the minister said. Lamenting the brain drain from Goa, Parrikar said: "All ...

US-Based Korn Ferry Hay Group to Support 100 Startups in India

9Apr By Press Trust of IndiaNo Comments

News

US-Based Korn Ferry Hay Group to Support 100 Startups in India

Bullish on India, US-based global management consultancy giant Korn Ferry Hay Group has embarked on an ambitious plan to support for free 100 startups from the country that have potential to grow big, its CEO Stephen D Kaye said on Friday. Kaye also said he is seeing emergence of a "more global India" that has a tremendous talent base and the consultants working with the Group here are capable of servicing some of the most prestigious clients around the world. "We see a very capable and bullish India market. India is now a country that is living up to its potential, growing quickly with world class companies," Kaye told PTI in an interview here. The group, whose clients include governments, public sector companies, family-owned enterprises as well as listed private sector companies f...

8Apr By Press Trust of IndiaNo Comments

News

Housing.com to Spend Up to $7 million on Ads This Year

Realty portal Housing.com plans to spend up to USD 7 million on advertisements this fiscal as it looks to strengthen its brand equity. Softbank-backed company, which today announced the launch of its first ever TV campaign, will be releasing a slew of ads on electronic, digital and social media platforms targetting consumers in the age range of 25-40. "We have just launched the first ever television ad to strengthen our brand and establish deeper emotional connect with our consumers. We are looking at a marketing spend of USD 5-7 million in 2016-17 for advertisements on TV, digital and social media," Housing.com CMO Nikhil Rungta told PTI. The first ever TV campaign would be launched during this IPL. The media outreach will include channels across GECs, Sports, News, Movies and...

E-commerce Policy is Unlikely to Change The Discounting Model of Online Retailers- Source

7Apr By Press Trust of IndiaNo Comments

News

E-commerce Policy is Unlikely to Change The Discounting Model of Online Retailers- Source

The recently introduced e-commerce policy is unlikely to change the discounting model of online retailers in the near-term, says India Ratings and Research (Ind-Ra). According to the ratings agency, further clarity is essential for the successful regulation of the sector, implementation of the policy and achieving the desired objective to bring about a level playing field between offline and online retailers. Ind-Ra also said the traditional offline retailers are unlikely to benefit as the policy is directed towards defining and limiting the scope of operations of e-commerce business. The policy aims to define and ring fence the marketplace operation activity of e-commerce players (e-tailers) and to distinguish the scope of marketplace and inventory based model as the Foreign Dire...

Oracle to Set Up Startup Incubators in India

7Apr By Press Trust of IndiaNo Comments

News

Oracle to Set Up Startup Incubators in India

To mentor budding entrepreneurs and help the emerging companies access best technology, IT major Oracle will set up nine startup incubators across the country. "Our goal is to make it extremely easy for people to access the Cloud and we want to make it accessible not just to big companies, but also to every person who has an idea for a business that can transform this country," Oracle President Thomas Kurian today. Mentoring is a key part of the initiative and the incubator will facilitate the companies to learn from venture capital funds and also former chief executives of successful startups, he said at a company event here. Even though the company works with the software ecosystem across the world, this is a global first of having dedicated incubators, Kurian added. ...

6Apr By Press Trust of IndiaNo Comments

INDIA

Now, This Indian State to Impose Tax on E-commerce Shipments

Himachal Pradesh has become the latest state to impose tax on e-commerce shipments with the state Assembly today passing a bill providing for levying tax on all online purchases to check revenue loss caused by online trading. Major states like Gujarat, Madhya Pradesh Rajasthan and Uttar Pradesh have already announced imposing tax on online purchases to protect local traders. The HP Assembly passed the Himachal Pradesh Tax on Entry of Goods (Amendment) Bill 2016, that provides for levying tax on all online purchases to check revenue losses caused by online trading. The bill was passed without any discussion as the BJP members were protesting on some other issue when the bill came up for discussion. As per Excise and Taxation Minister Parkash Chauhdary, the Bill includes provisions to...

IRCTC Aims at 1 Lakh Meal Order Online Per Day

3Apr By Press Trust of IndiaNo Comments

News

IRCTC Aims at 1 Lakh Meal Order Online Per Day

NEW DELHI: On the back of rapid growth of e-business, IRCTC has set its sights high and aims at achieving the target of one lakh online meal orders per day. Currently, only about 3000 meals are being booked online every day with 193 stations and 1516 trains covered under the e-catering policy. The online food order on trains and at stations is catching up as passengers are evincing interest in opting for e-catering during train journey, said a senior IRCTC official. Launched in September 2014 in a few selected trains as a pilot project, e-catering was extended to more trains the next year. In October 2015, station-based e-catering was started at 45 stations. As per the plan, e-catering will be extended to 409 major stations and almost all mail/express trains in a phased man...

Voot Video-on-Demand Service Launched in India

30Mar By Press Trust of IndiaNo Comments

News

Voot Video-on-Demand Service Launched in India

Media and entertainment major Viacom18 Tuesday launched its advertising-led video-on-demand platform Voot. Voot, a 50:50 joint venture between Viacom Group and the Mukesh Ambani-led Reliance Industries, will have a large repository of original content and roll out shows in both long and short formats across genres like comedy and drama. The platform will have kids characters from across networks, from Nick characters like Dora, Spongebob, Motu Patlu to external popular characters like Chhota Bheem and Pokémon. It will also move its content library including Colors, MTV and Nick to be digitally available only on Voot. "This market is at the cusp of a digital boom with over 400 million Internet users and over 200 million smartphone users spending significant amount of tim...

Uber launches Bike Taxi “UberMOTO” in Gurgaon

30Mar By Press Trust of IndiaNo Comments

News

Uber launches Bike Taxi “UberMOTO” in Gurgaon

After Bengaluru, taxi-hailing app Uber today launched a pilot of its bikesharing product "uberMOTO" in Gurgaon. "Uber today announced a pilot of Uber's bikesharing product - uberMOTO in Gurgaon... This follows our agreement with the government of Haryana to introduce technology based ride-sharing services in the state," it said in a statement. The company has set minimum fare at Rs 15, followed by Rs 3 per km and Rs 1 per min of ride-time charges. The minimum fare is Rs 20. It will compete with companies like Baxi. "UberMOTO works towards the vision of reducing congestion by helping fill every empty seat on the bikes on road. It enables riders to push a button and share a motorbike ride within minutes," Uber Delhi General Manager Gagan Bhatia said. It's a great way for people t...