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Alibaba’s Ma, Tsai to buy back $500 million in shares

29Feb By reutersNo Comments

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Alibaba’s Ma, Tsai to buy back $500 million in shares

Alibaba Group Holding Ltd said on Monday Chairman Jack Ma and Vice Chairman Joe Tsai have agreed to buy back a combined $500 million in company shares, part of a $4 billion stock repurchase scheme announced in August. The buyback comes as the e-commerce firm's shares languish at $66.91, more than a dollar off their IPO price of $68, and as it struggles with slowing growth and a gloomy outlook for the Chinese economy. Sina News reported that Ma and Tsai had signed an agreement to use their private funds to repurchase shares worth $500 million. An Alibaba spokesman confirmed the news but declined to give details. In August, Alibaba announced the $4 billion share repurchase programme which would take place over two years and was aimed at offsetting the impact of its share-based compe...

Soon, Differently-Abled Can Avail Rail Travel Concessions Online

28Feb By AnkitaNo Comments

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Soon, Differently-Abled Can Avail Rail Travel Concessions Online

The Indian Railways is fulfilling its social obligations towards Divyang, senior citizens and women travellers, Union Railway Minister Suresh Prabhu said on Thursday while presenting the rail budget in the Lok Sabha. Prabhu said that for Divyang (differently-abled), the railways have introduced one-time registration for availing concessions while booking tickets online, online booking of wheelchairs and Braille-enabled new coaches. Also, the quota of lower berths has been increased for senior citizens and women. "In the coming financial year, the railways is increasing the senior citizen quota per coach by 50 percent, resulting in almost 120 lower berths per train for senior citizens," he said. The minister said that in pursuance of the objectives of Accessible India campaign,...

Facebook Introduces ‘Canvas’ to Empower Advertisers With More Space

27Feb By AnkitaNo Comments

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Facebook Introduces ‘Canvas’ to Empower Advertisers With More Space

Social networking giant Facebook has introduced a new innovative product called 'Canvas which allow advertisers to combine video, still images and copy in an ad. "We're committed to building great mobile experiences for people and doing so also opens up new creative possibilities for advertisers. We've invested in engaging experiences like video and the carousel format to empower advertisers with more creative space to share their brand and products on mobile," the California based company said in a blog post. The social media giant said that the aim is to achieve any objective by giving advertisers a fully customisable space to build multimedia stories. "We made the creative community a priority when we designed and built Canvas. It's a product that represents our commitment to c...

Alibaba in Talks With Several Banks For Up to $4 Billion Loan

26Feb By reutersNo Comments

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Alibaba in Talks With Several Banks For Up to $4 Billion Loan

Chinese e-commerce giant Alibaba Group Holding Ltd (BABA.N) is in talks with several banks to borrow up to $4 billion to fund expansion plans, including acquisitions, the Wall Street Journal reported on Friday, citing people familiar with the matter. The loan is expected to be finalized next month, one of the people told the Journal. Alibaba has been picking up stakes and buying companies in China and abroad. The company has also been expanding in other areas such as online video and local services as volume growth in core online shopping business slows. Alibaba shares were up 2.2 percent at $68.13 in premarket trading on Friday. Up to Thursday's close of $66.66, the stock had fallen about 18 percent this year.

Flipkart Shuts It's Groceries Delivery App Nearby

26Feb By PriyankaNo Comments

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Flipkart Shuts It's Groceries Delivery App Nearby

A month later, Mukesh Bansal and Ankit Nagori resignation India’s largest e-commerce firm Flipkart shuts it's groceries delivery app, Nearby. The company Nearby was five months old. Paytm, operated by One97 Communications Ltd, also closed its grocery service in June because of poor demand. The Nearby app was launched as an experiment by Flipkart in Bengaluru in October. The company promised to deliver fruits, vegetables, soaps and other staples from supermarkets to customers within an hour of receiving an order. On 11 January, Flipkart named co-founder Binny as CEO, replacing Sachin Bansal, in a move that it claimed would strengthen its management bandwidth as it seeks to combat archrival Amazon India and kick off preparations for an expected initial public offering (IPO) over the...

India Attracting More and More Technologists, Expert

26Feb By AnkitaNo Comments

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India Attracting More and More Technologists, Expert

India is more attractive than the other emerging markets for international technology groups, given the huge growth potential of domestic demand, a senior security industry official said today. "Today, India is the most suitable market to adopt technologies in every sphere of the economy including defence sector," said Richard Wileman, director of business development in international markets at UTC Aerospace Systems, a leading global corporation. Noting India has opened foreign investment in the defence industry, Wileman said there was much more the Indian government can gain by adopting technologies, which eventually can be manufactured in whole or in parts in the country. "The 'Make in India' is an attractive initiative and allowing Foreign Direct Investment in the defence sect...

Now, “React” When Simply Liking A Post On Facebook Is Not Enough!

25Feb By RishabhNo Comments

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Now, “React” When Simply Liking A Post On Facebook Is Not Enough!

A lot of emotions are shared daily on Facebook. Some are the happy ones, or thought-provoking or sad or depressing. People have always been suggesting Facebook to add a button for “dislike” or do something so that people can also express them grieves. People have been looking for a mid-way between “Like” and “Comment” feature of the Facebook. (more…)

IRCTC Partners With 'OYO Rooms' to Deliver Real-time Hotel Bookings

25Feb By PriyankaNo Comments

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IRCTC Partners With 'OYO Rooms' to Deliver Real-time Hotel Bookings

Continuing its recent streak of partnering with innovative start-up ventures, Indian Railway Catering and Tourism Corporation (IRCTC) has tied up with OYO Rooms, India's largest branded network of hotels, to offer standardized accommodation and a convenient booking platform to rail travelers. The partnership symbolizes the growing leverage of synergies between the government and homegrown Indian businesses to drive the next wave of innovation. OYO Rooms will power the IRCTC hotel-booking page, offering their inventory and promise of standardized amenities to train passengers. Commenting on the tie-up, IRCTC CMD Dr. A.K. Manocha said, "We are committed to drive efficiencies and enhance our service through innovation. OYO Rooms has propelled the hotel market in India towards new horizon ...

Ola To Create Entrepreneurship Opportunities in UP, Signs MoU Govt

24Feb By AdityaNo Comments

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Ola To Create Entrepreneurship Opportunities in UP, Signs MoU Govt

Mobile app for transportation, Ola has signed a Memorandum of Understanding (MoU) with the Government of Uttar Pradesh in order to generate entrepreneurship opportunities along with skill development for 50,000 men and women across the next five years. Ola will also work with the state government to introduce innovative and customised mobility solutions like Ola Auto, Ola Share and Ola Shuttle across the state in the coming months. By bringing more transportation solutions onto its app using technology, Ola is looking to serve citizens across Uttar Pradesh, giving them instant access to reliable and convenient mobility. "The state of Uttar Pradesh is growing as an economic centre for the country faster than ever before. The compounded annual growth rate of UP in the last three years ha...

SimplyFest, Celebrating The Entrepreneur In You!

24Feb By Sonia MotwaniNo Comments

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SimplyFest, Celebrating The Entrepreneur In You!

It was a weekend with inspiring talks at Zorba Delhi. Talks led by successful entrepreneurs who’ve built their own companies from scratch. Students, to be entrepreneurs, investors; anyone in the business of learning about, or starting a new venture were present at the beautiful lawns on 20th Feb. The list of storytellers across these two days represents some of India’s most sought-after enterprises with collaborators across venture capitalists, incubators, knowledge institutions, social platforms, business groups, business dailies and technology companies. The event was organized by SimplyHR, India’s leading HR consultancies based out Delhi. “With SimplyFest, we want to help pass on their wisdom to the next wave of innovators who have the potential to start the hottest startups of tomorro...

Chinese Company LeEco Will Provide Mid Day Meals To Indian Childrens

23Feb By PriyankaNo Comments

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Chinese Company LeEco Will Provide Mid Day Meals To Indian Childrens

In a gesture befitting a socially conscious corporate, LeEco, the internet and technology conglomerate has joined hands with Akshaya Patra to support a mid-day meal for two children for every Le Superphone sold (Le 1s and Le Max) on LeEco Day on February 25, 2016. The initiative is part of a program that helps Akshaya Patra feed over a million children, who have the zeal to learn and the potential to contribute to India's social and economic development. LeEco, which recently entered the Indian market has become consumers' favourite brand in a short span of time. Having created a flurry of industry records with its Le Superphones, the corporate's LeEco Day with its bounty of benefits and offers worth Rs. 8 crores, is touted as one of the largest and most attractive shopping carnivals...

Aditya Birla Retail To Offer Mobile Wallet ‘Paytm’ Across 500 Stores

23Feb By NitishNo Comments

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Aditya Birla Retail To Offer Mobile Wallet ‘Paytm’ Across 500 Stores

Indian multinational conglomerate, Aditya Birla Group has tied up with Paytm to offer its customers an easily accessible prepaid wallet to make payments for their food and grocery purchases at across 500 stores. The tie-up will be active across 'More' stores operational at 137 cities. The tie up will enable shoppers to save time with faster shopping experience, use their reward points easily and enjoy Paytm's cashbacks in addition to More's own offers and promotions. Vishak Kumar CEO, Aditya Birla Retail Limited said, "We are happy to announce our association with Paytm. Now our customers can shop with ease and convenience through the use of their Paytm Wallets and also earn attractive discounts and cash-backs at our stores across the country. "We are delighted to partner with ' More'...