Press Trust of India | Pixr8 News

SoftBank Undecided on Selling its 22% Stake in Flipkart

11May By Press Trust of IndiaNo Comments

News

SoftBank Undecided on Selling its 22% Stake in Flipkart

New Delhi: SoftBank founder Masayoshi Son yet not decided to sell its 20-22% stake in Flipkart to Walmart Inc., sources close to the company told to Pixr8 News. After seeing the valuation of the company, Masayoshi Son is in dilemma and will take a call in the next 7-10 days on whether to exit India’s biggest online retailer or stay invested for a long time. If SoftBank decides not to sell its stake then Walmart left with about 55% stake of Flipkart. All other significant shareholders like Naspers, venture fund Accel Partners and eBay had confirmed selling their shares in Flipkart to Walmart. Though on Wednesday, Us retail giant Walmart Inc has announced that it will pay about $16 billion to buy 77% stake in Flipkart. A statement issued by Walmart identified Flipkart co-founder Binny B...

23Apr By Press Trust of IndiaNo Comments

ANALYSIS

IPL Merchandising a Huge Opportunity to Monetise Your Brand: Survey

The Indian Premier League (IPL) and its franchisees can emulate other global sporting events to exploit the brand value for increasing their revenue collections through merchandising, according to global valuation and corporate finance advisor Duff & Phelps. Unlike the global sports events, the premier T20 cricket hasn't been able to monetise at a large scale through merchandising despite its huge popularity, but this could change in the next few years, it said. "Merchandising, which has not picked up as anticipated, is a huge opportunity for IPL and the franchisees to monetise the brand, and we hope to see IPL replicating the global sporting events' success in monetising their brands through merchandising," Duff & Phelps India Managing Director Santosh N told PTI. Globall...

Apple Data Centre in China Will Open by 2020

4Feb By Press Trust of IndiaNo Comments

News

Apple Data Centre in China Will Open by 2020

The construction work of Chinese data centre for the US tech giant, Apple Inc, will begin later this year and it is expected to open by 2020, sources close to the project has said. The communications administration of southwest China's Guizhou Province, where the centre will be built, provided the timetable. With an investment of USD 1 billion, the data centre will cover 67 hectares in Guian New Area and it will offer iCloud services on the Chinese mainland. Starting February 28, iCloud services on the Chinese mainland will be operated by a local partner, Guizhou-Cloud Big Data Industry Co, Ltd. Before the data centre begins operations, the Chinese company will rent servers from China's three major telecom operators to provide iCloud services, the state-run Xinhua news agency repo...

Budget 2018: Instead of Increasing Tax Exempted Income to 3 lacs, Govt. Implied Standard Deduction To Reward Honest Taxpayers

2Feb By Press Trust of IndiaNo Comments

News

Budget 2018: Instead of Increasing Tax Exempted Income to 3 lacs, Govt. Implied Standard Deduction To Reward Honest Taxpayers

Tax-free income for salaried class and pensioners has been raised to Rs 2.9 lakh by way of a Rs 40,000 standard deduction and not by hiking exemption limit as the government wanted the benefit to accrue to honest tax payers, Finance Secretary Hasmukh Adhia said today. The standard deduction, which replaces tax-free transport allowance of Rs 1,600 per month (Rs 19,200 a year) and medical expense reimbursement of Rs 15,000 per annum, will accrue automatically to salaried class and pensioners without the requirement of furnishing proof like medical bills that is in vogue now. The provision, which forms part of the Budget for 2018- 19, will apply from April 1 after Parliament approval. Finance Minister Arun Jaitley chose the standard deduction route rather than raising tax exemption l...

Ola Now Plans To Expand To Australian Market

30Jan By Press Trust of IndiaNo Comments

News

Ola Now Plans To Expand To Australian Market

Indian cab aggregator Ola is set to go international with the launch of its operations in Australia in the coming weeks, a move that will further intensify its battle with US-based rival Uber. The SoftBank-backed firm is now onboarding private hire vehicle owners onto its platform in Sydney, Melbourne and Perth, Ola said in a statement. Ola plans to launch its services in Australia in early 2018, it added. It will share further details of the commencement of commercial operations -- subject to necessary regulatory approvals -- later. "We are very excited about launching Ola in Australia and see immense potential for the ride-sharing ecosystem which embraces new technology and innovation," Ola co-founder and CEO Bhavish Aggarwal said. He added that the company aims to "create...

23Jan By Press Trust of IndiaNo Comments

INDIA

India Means Business: Modi Tells Global CEOs

Prime Minister Narendra Modi today told top CEOs here that India means business and presents exciting opportunity for the global businesses. Addressing a roundtable before a dinner meet, Modi narrated Indias growth story. He was accompanied by top government officials including Vijay Gokhale, Jai Shankar and Ramesh Abhishek. Under the tagline of "India means business", the roundtable was attended by 40 CEOs of global companies and 20 from India. After the meeting, MEA spokesperson Raveesh Kumar tweeted about Modi narrating Indias growth story and presenting exciting opportunities for global business in India at Davos. The spokesperson also tweeted that the prime minister "hosted a roundtable meeting with CEOs of top global companies". Modi, who arrived in Davos on Monday ...

19Jan By Press Trust of IndiaNo Comments

INDIA

India Tops in Producing Bachelor in Science and Engineering

India accounts for one-fourth of the estimated 7.5 million bachelor in science and engineering degrees awarded across the world in 2014, a report has said. However, its the US that tops the charts in research and development spending, according to the annual Science and Engineering Indicators 2018 report of the National Science Foundation has said. China's growth in science and engineering field continued at an exceptional pace, the report said. The US is the global leader in science and technology (S&T). However, its global share of S&T activities is declining as other nations -especially China- continue to rise. According to the most recent estimates, in 2014, the US awarded the largest number of S&E doctoral degrees (40,000) of any country, followed by China (34,...

Reliance Jio to Host India Digital Open Summit on January 19

15Jan By Press Trust of IndiaNo Comments

News

Reliance Jio to Host India Digital Open Summit on January 19

Telecom operator Reliance Jio will host India Digital Open Summit 2018 on January 19 with focus on opportunities and building digital ecosystem. "The January 19th, 2018 event marks the inaugural India Digital Open Summit, a meeting of the top technologists, academia, startups, and industry leaders focused on how open source networking systems and platforms would transform and foster innovation and leadership across the entire digital ecosystem," the company said in a statement. The company is organising the event in partnership with Linux Foundation and supported by Cisco Systems. ALSO READ: Reliance Jio Live: Mukesh Ambani Releases Data And Announced New Offers "Open source is being embraced by leading organisations globally, not only due to its cost advantage, but to ...

UIDAI Allows Airtel Aadhaar Based Verification till March 31

15Jan By Press Trust of IndiaNo Comments

INDIA

UIDAI Allows Airtel Aadhaar Based Verification till March 31

Aadhaar-issuing authority UIDAI has extended the temporary permission given to Bharti Airtel for using the biometric identity for re-verification of its mobile customers till March 31. It had last month allowed Airtel to use Aadhaar for re-verification of its mobile customers till January 10 with stiff riders after the company returned ₹138 crore LPG subsidy that allegedly flowed into unsolicited payment bank accounts. The Unique Identification Authority of India maintained however that Airtel Payments Bank’s eKYC licence will remain suspended till final enquiry and audit report, sources privy to the development told PTI. When contacted, an Airtel spokesperson said: “We can confirm that the UIDAI has permitted Bharti Airtel to continue Aadhaar based e-KYC till March 31, 2018, subj...

Shoppers Stop Allots 179.26 Crore Shares to Amazon

14Jan By Press Trust of IndiaNo Comments

News

Shoppers Stop Allots 179.26 Crore Shares to Amazon

Retail chain Shoppers Stop today said it has allotted 5 per shares worth Rs 179.26 crore to Amazon.com NV Investment Holdings LLC, an investment arm of Amazon.com. According to a BSE filing by the company, it has issued of 43,95,925 equity shares of Rs 5 each at a price of Rs 407.78 per equity share, aggregating around Rs 179.26 crore, to Amazon.com NV Investment Holdings LLC. The private placement committee of Shoppers Stop at its meeting held on January 12 had approved the allotment of the equity shares. The company had entered into an agreement with Amazon.com Investment Holdings LLC in September for the purpose of issuing equity shares on a preferential basis. As part of the deal, Shoppers Stop will have an exclusive flagship store on the Amazon marketplace. The two comp...

No Intentional Wrongdoing in Satyam fraud: Price Waterhouse

11Jan By Press Trust of IndiaNo Comments

News

No Intentional Wrongdoing in Satyam fraud: Price Waterhouse

Price Waterhouse today said there has been no intentional wrongdoing by its firms in the Satyam case and expressed confidence of getting a stay on the Sebi order. The audit major also said it has learnt the lessons from Satyam case and invested heavily over the last nine years in building a robust and high quality audit practice. Finding Price Waterhouse guilty in the multi-crore Satyam scam, Sebi has barred its network entities from issuing audit certificates to any listed company in India for two years. Besides, the watchdog has ordered disgorgement of over Rs 13 crore wrongful gains by the audit major and its two erstwhile partners who worked on the IT major's accounts. "As we have said since 2009, there has been no intentional wrongdoing by PW firms in the unprecedented man...

11Jan By Press Trust of IndiaNo Comments

News

Narayana Murthy’s Son-in-law in UK Govt

Rishi Sunak, the son-in-law of Infosys chief Narayana Murthy, is among two new Indian-origin MPs to be inducted into the UK government by British Prime Minister Theresa May following the recent reshuffle of her team of ministers. Sunak, 37, a Conservative party MP for Richmond (Yorkshire), has been appointed the new parliamentary under- secretary of state in the Ministry of Housing, Communities and Local Government as part of a New Year reshuffle this week. Sunak is joined by fellow pro- Brexit campaigner, Goan- origin Suella Fernandes, who takes charge as parliamentary under-secretary of state in the Department for Exiting the European Union (DExEU). Sunak and Fernandes, who take charge of their junior ministerial roles as part of May’s team, were among the prominent Indianorigin...