Sunday, December 22

Tag: business

Online Food Delivery Startup Foodpanda Reported 64% Jump In Profit
29Nov By PriyankaNo Comments
BUSINESS

Online Food Delivery Startup Foodpanda Reported 64% Jump In Profit

Indian food delivery startup Foodpanda has reported its latest revenue figures FY 16-17 which reflect a 64 percent jump in the revenue over the last years. The food-delivery company earned Rs. 62.16 crores in FY 16-17 compared to Rs. 37.81 crores in FY 15-16 owing to strong order growth in key markets. Wrapping up a strong year for the brand, foodpanda India also registered an impactful 69 percent dip in losses at Rs. 44.81 crores from Rs. 142.64 crores in FY15-16. The company has been running profitable since 2015 and is still investing in its tech and services to strengthen its services across the country. Also Recommended Could Maggi Be Banned Again? Ash Content Beyond Permissible Limits Found     Bitcoin Tops $10,000, Taking 2017 Gains To 940 Percent     ...
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Economic Growth Likely To Pick Up In Q2, Say Experts
28Nov By Press Trust of IndiaNo Comments
ANALYSIS

Economic Growth Likely To Pick Up In Q2, Say Experts

Indias economic growth is likely to show a significant improvement for the September quarter of the current fiscal over the previous three months, when the GDP slipped to a 3-year low of 5.7 per cent, say experts. The Central Statistics Office (CSO) is scheduled to come out on Thursday with the estimates of the second quarter gross domestic product (GDP). The data will also capture the impact of the Goods and Service Tax (GST), which was implemented from July 1. Based on a survey of economists, industry body Ficci expects that the economic growth would rebound to 6.2 per cent in the second quarter, a significant improvement over the April-June numbers. "The slowdown in the economy due to demonetisation and the adjustment impact of GST implementation seems to be bottoming out and ...
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Sovereign Wealth Funds Pull $3.7B From Global Stock, Bond Markets In Q3
24Nov By reutersNo Comments
BUSINESS

Sovereign Wealth Funds Pull $3.7B From Global Stock, Bond Markets In Q3

Sovereign wealth funds (SWFs) withdrew more money from global stock and bond markets in the third quarter of 2017, albeit at a slower pace with net outflows of $3.7 billion, data from research firm eVestment showed on Thursday. This was down from the second quarter’s $7.7 billion of redemptions and the first quarter’s whopping $22.7 billion, but it still marked the 13th straight quarter of withdrawals. Oil-backed sovereign funds have been under pressure since oil prices tumbled from their mid-2014 highs of $115 a barrel to below $30 a barrel in January 2016, forcing governments to dig into their coffers to fill budget gaps. Oil prices have since stabilized and currently trade around $60 a barrel. Some of the worst-hit governments have also tapped global bond markets for cash, reli...
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Qualcomm Draws Up Plans To Rebuff Broadcom’s $103B Offer: Sources
13Nov By reutersNo Comments
News

Qualcomm Draws Up Plans To Rebuff Broadcom’s $103B Offer: Sources

U.S. chipmaker Qualcomm Inc is making preparations to reject rival Broadcom Ltd’s $103 billion bid as early as this week, four people familiar with the matter said on Sunday, setting the stage for one of the biggest-ever takeover battles. Qualcomm’s board of directors could meet as early as Sunday to review the unsolicited acquisition offer and decide on its strategy, the sources said. The preparations for the board meeting indicate that Qualcomm is poised to rebuff the bid as insufficient as early as Monday, although it may decide to spend a few more days this week to prepare its full response to Broadcom, the sources added. Qualcomm Chief Executive Steven Mollenkopf has spent the past few days soliciting feedback from Qualcomm shareholders, and feels that Broadcom’s $70-per-share b...
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India More Attracted To Biz Than WB Ranking Index Suggests
8Nov By Press Trust of IndiaNo Comments
INDIA

India More Attracted To Biz Than WB Ranking Index Suggests

Observing that the recent increase in Indias ease of doing business ranking by the World Bank was long overdue, a top Indian American economist today said the country as a place for business is a lot more attractive than its ranking suggests. Investors usually go where the environment is the best and not where the World Bank collects its data, Arvind Panagariya, professor at the prestigious Columbia University, told PTI in an interview. "Our best investment destinations do significantly better than the latter," said the former vice chairman of NITI Aayog. "I have often said that India as a place to do business is a lot more attractive than the World Bank ranking suggests. This is because the bank collects its data in Delhi and Mumbai, not in the states with the best business environ...
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2018 Will Be A Better Year For Indian IT: Report
23Oct By Press Trust of IndiaNo Comments
ANALYSIS

2018 Will Be A Better Year For Indian IT: Report

With the US economy doing well, Indian IT companies can look forward to a better year in 2018 on the back of growing tech spend and demand from clients, according to senior industry figures. Noting that the largest market for Indian IT companies is the US, former CFO of Infosys V Balakrishnan said their ability to grab growth opportunities is critical. "The US economy is doing extremely well. I think they are still growing 2-2.5 per cent, good growth for that economy," he told PTI. "If you look at the Gartner report, they talked about overall IT spend going up by 4-4.5 per cent this year. I think there is growth. The ability of the company to take on growth is critical. I think growth opportunities are there," added Balakrishnan. He said if the world's largest economy is doing well...
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Indian Economy On ‘Very Solid Track’: IMF Chief Lagarde
15Oct By Press Trust of IndiaNo Comments
INDIA

Indian Economy On ‘Very Solid Track’: IMF Chief Lagarde

IMF chief Christine Lagarde has said the Indian economy is on a "very solid track" in the mid-term, days after the International Monetary Fund lowered its growth forecast for the current and the next year. Describing the two major recent reforms in India - demonetisation and Goods and Services Tax (GST) - as a monumental effort, Lagarde said it is hardly surprising that there "is a little bit of a short-term slowdown" as a result. The IMF last week lowered India's growth projection to 6.7 per cent in 2017, 0.5 percentage points less than its previous two forecasts in April and July, attributing it to demonetisation and introduction of the GST. RELATED Indian Government Makes Changes in GST, Relief to SMEs and Exporters It also lowered the country's growth for 2018 to 7....
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IPOs Raise Record Rs 27,000 Cr In Apr-Sep This Year
3Oct By Press Trust of IndiaNo Comments
BUSINESS

IPOs Raise Record Rs 27,000 Cr In Apr-Sep This Year

Indian companies raised a record close to Rs 27,000 crore through initial public offerings in the first half of the current fiscal and an impressive pipeline is already in place for coming months. "Besides, over a dozen firms, including New India Assurance Company, Reliance Nippon Life Asset Management and HDFC Standard Life Insurance Company, have lined up their IPOs to raise funds totalling Rs 35,000 crore in coming months," Dinesh Rohira, founder and CEO at 5nance.com, said. Adding to the depth of the IPO market, companies from diverse sectors like insurance, healthcare, education, bank, cable TV and shipping have made their way to the IPO space during the period under review. According to the latest data compiled from stock exchanges, 19 companies garnered over Rs 26,720 crore thr...
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