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China’s Richest Man Will Develop $10 Bln Industrial Park in India
BUSINESS

China’s Richest Man Will Develop $10 Bln Industrial Park in India

Chinese conglomerate Dalian Wanda Group said on Friday it would develop a $10 billion industrial park in northern India, its first project in the country. The company owned by China's richest man Wang Jianlin said it would be the lead investor in the project's initial infrastructure and also ask Chinese firms to take part. Construction on the first phase of the 13 square km park in Haryana state is due to start this year, the company said. "Haryana State will provide Wanda with the most preferential policies," it added in a statement. Dalian Wanda is aggressively spending on projects and acquisitions ranging from entertainment to financial services in a bid to diversify away from its core, but slowing, domestic real estate operations. The conglomerate which posted $44 billio...
First Store Chain in Japan to Use China’s Online Payment Solution Alipay
BUSINESS

First Store Chain in Japan to Use China’s Online Payment Solution Alipay

Japanese department store chain Kintetsu announced on Monday that it will introduce China's online payment solution Alipay in four of its department stores in Osaka so as to attract more Chinese tourists. According to Kintetsu, it would be the first department store chain in Japan to use Alipay, though the well-known Chinese online payment solution has already been used by the discount chain store Don Quijote and the consumer electronics retailer Yamada Denki in Japan since last year. "Alipay is a payment platform with over 400 million users in China. Chinese customers will be able to use the Alipay app on their cellphones to pay for the commodities they have bought in our department stores, which will be very convenient for them." said Aki Shokyoku, foreign business dire...
China’s Baidu in talks with Indian e-commerce start-ups for funding
BUSINESS, News

China’s Baidu in talks with Indian e-commerce start-ups for funding

Baidu Inc, a Chinese web services company, is in talks to invest in Indian e-commerce start-ups including Zomato, BookMyShow and BigBasket, a spokesman for China's top online search provider said on Wednesday. "The Indian market represents an enormous opportunity for us to connect more people with services, and we plan to put more resources there in the future," the spokesman told Reuters by email. Baidu declined to comment on possible investment amounts or time frames. India's technology start-up market is booming as more and more people shop online, in a country where about 20 percent of a population of 1.3 billion are connected to the Internet. The e-commerce market could grow in terms of the value of goods sold to $220 billion by 2025 from $11 billion in 2015, Bank of America Merr...
First of Its Kind: Indian Oil Tie Up With Logistics Start-up Firm Fortigo
BUSINESS

First of Its Kind: Indian Oil Tie Up With Logistics Start-up Firm Fortigo

Chennai: Country's largest oil marketing company Indian Oil on January 11, announced its partnership with logistics start-up firm http://www.fortigo.com/Fortigo, aimed at providing technology based solutions to small truck owners. Fortigo is funded by various venture capitalists including Infosys co-founder Nandan Nilenkani. The partnership between Indian Oil and Fortigo, a first-of-its-kind in the industry, would help small truck owners to manage the inventories and plan operations effectively saving time and reduce transportation costs, a company statement said. Small truck owners with small fleets can manage logistics issues. The tie up with Fortigo would also help Indian Oil to tap fuel business from fleet operators covered under the Fortigo platform, it said. During the current ...
BUSINESS

Indian firms raised Rs 68,608 crore through equities in 2015

Indian firms mopped up over Rs 68,608 crore through the equity market route in 2015. This is 76 percent higher than Rs 39,067 crore raised through the equity market in 2014. Out of the total Rs 68,608 crore raised, fresh capital accounted for only Rs 25,964 crore, with the remaining Rs 42,644 crore coming from offers for sale. "The year could have been even better but for the deferment of several PSU offerings. The year, of course, fell short of Rs 97,746 crore, the highest amount which has ever been raised (in 2010)," Prime Database Managing Director Pranav Haldea said.     The highest-ever mobilisation through initial share sale plans was in 2010 at Rs 37,535 crore. In comparison, five IPOs had hit the capital market to garner just Rs 1,201 crore in 2014. The year 20...
Sandhar Technologies gets Sebi nod for IPO
BUSINESS

Sandhar Technologies gets Sebi nod for IPO

Automotive components firm Sandhar Technologies has received market regulator Sebi's approval to raise at least Rs 300 crore from an initial public offering. The company had filed the draft red herring prospectus (DRHP) with Sebi on September 29, seeking permission for an IPO. The Securities and Exchange Board of India (Sebi) has cleared the proposed initial share sale and gave its final observations on the IPO on December 21. The initial public offer (IPO) consists fresh issue of equity shares aggregating up to Rs 300 crore and offer for sale of up to 51.15 lakh shares by GTI Capital Beta at a face value of Rs 10 each. The funds garnered from the IPO will be used for setting up a new manufacturing facility at Hosur in Tamil Nadu, repayment/pre-payment, in full or part, of cert...
What kind of Startup Services a “Bikaneri Sweet Shop” Owner Needs?
BUSINESS

What kind of Startup Services a “Bikaneri Sweet Shop” Owner Needs?

Recently India has popped out as a huge market for the startup world. It is yet developing and is attracting not only corporates but local vendors and distributors. It is not to be reminded how companies, that were started just in a room have now achieved a huge success that used to take centuries to expand to such an outreach within a year or so. Trying to compete and cope up with the market, and bring about a change in his father’s business Mr. Ishan Goel, a 25-year-old, who is well known as the owner of two shops named as “Aggarwal Bikaneri Sweets” both in Sec-16 Noida plans to reach out to it. Mr. Ishan Goel has been in the food industry for 9 years now and has been operating in various fields such as manufacturing, retail, wholesale and commercial retail. He has done his former edu...