Saturday, May 11

Tag: business

This Is Probably The End Of Bitcoins In China
5Sep By reutersNo Comments
CHINA

This Is Probably The End Of Bitcoins In China

China on Monday banned individuals and organizations from raising funds through initial coin offerings (ICO), or launches of digital currencies, saying the practice constituted illegal fundraising. ICOs have become a bonanza for digital currency entrepreneurs, globally and in China, allowing them to raise large sums quickly by creating and selling digital “tokens” with little or no regulatory oversight. Individuals and organizations that have completed ICO fundraisings should make arrangements to return funds, said a joint statement from the People’s Bank of China, the securities and banking regulators and other government departments, that was posted on the central bank’s website. The prices of bitcoin and ethereum, two of the largest cryptocurrencies, slumped after the announcem...
Read More
The Advantages of the GST
4Jul By AnkitaNo Comments
ANALYSIS

The Advantages of the GST

The launch of GST has left most businesses in a tight spot. Here are 10 advantages of GST that will uplift your impressions about the biggest tax reform of India since its Independence.   Price Reductions It is advantageous for companies as people will purchase more regularly due to price reductions.   One Time Transaction Transaction will only occur a single time at Revenue Neutral Rate (RNR).This has been settled by both the Central and State Goods and Services Tax departments, (CGST and SGST).   Employment and Exports The Central and State governments will be benefitted by GST as it is set to increase industrial activities, exports and employment opportunities.   Unified Tax GST makes the revenue process less complicated. It will b...
Read More
VIVO Retains IPL Title Sponsorship in Massive Deal
27Jun By Press Trust of IndiaNo Comments
BUSINESS

VIVO Retains IPL Title Sponsorship in Massive Deal

New Delhi, Jun 27 (PTI): Mobile manufacturers VIVO today retained the Indian Premier Leagues title sponsorship for the next five years with a whopping Rs 2,199 crore bid, a mammoth 554 per cent more than the previous contract. "The premium global smartphone manufacturer bid Rs. 2199 crores, which is a 554 per cent increase over the previous contract. In the upcoming five IPL seasons (2018 - 2022), Vivo and IPL will have extensive cooperation in terms of sports events, on-ground activations and marketing campaigns," the BCCI said in a statement. The annual break-up of the deal works out a nearly Rs 440 crore per year. The Board had last month invited bids for the title sponsorship of the cash-rich and glitzy event for the period between August 1, 2017 and July 31, 2022. VIVO had he...
Read More
Impact of GST on Startup and Businesses
27Jun By AnkitaNo Comments
ANALYSIS

Impact of GST on Startup and Businesses

Goods & Services Tax (GST) is a consolidated, consumption based tax which will be levied on the supply of goods and services at a national level. It will combine major taxes like excise duty, CST, octroi, service tax, and VAT (value added tax) etc. into a single tax called GST, which will come into effect starting July 1st, 2017. Here are some of the ways startups and other common businesses will be impacted by GST-   Small traders with an annual turnover of up to Rs. 20 lakh won’t be required to register the new GST Act, and with the north-east States, the exemption threshold is Rs.10 lakh. This would save many small scale traders and service providers from undertaking GST agreements and reduce a substantial weight off the shoulders of tax authorities.   The GST in...
Read More
TATA Group is Looking To Acquire Air India
22Jun By PriyankaNo Comments
BUSINESS

TATA Group is Looking To Acquire Air India

Tata group is believed to be discussing buying a stake in debt-laden Air India amid the government looking at various options, including full or partial privatisation, to revive the national carrier, sources said. When contacted, a Tata group spokesperson said, "We dont comment on speculations." Tata's already have two airline joint ventures Vistara and AirAsia India. Staying afloat on taxpayers money, Air India has been in the red for long and various proposals, including government think-tank Niti Aayog suggestion for complete privatisation, have been made. Sources said Tata group is evaluating options on buying stake in Air India. In this regard, there have been internal meetings as well as meetings with government representatives, sources added. There was no official word f...
Read More
Magicbricks Posts 20% Growth in Revenue in 2016-17
13Jun By Press Trust of IndiaNo Comments
BUSINESS

Magicbricks Posts 20% Growth in Revenue in 2016-17

Realty portal Magicbricks today reported 20 per cent growth in revenue during last fiscal at Rs 132.6 crore. It posted 30 per cent growth in revenue during the fourth quarter at Rs 36 crore, Magicbricks said in a statement. "While there has been short-term pressure on the pace of growth post demonetisation, we saw search queries recovering strongly in the fourth quarter of 2016-17, indicating consumer sentiment revival. We beat the slowdown through a series of initiatives across product innovation, traffic growth, channel initiatives and partnership alliances," Magicbricks CEO Sudhir Pai said. In the ongoing fiscal, the company plans to launch a series of new business lines around commercial real estate, the rental segment, luxury and NRI segments. It will also integrate produc...
Read More
Asus Aims 5% Share in Indian Smartphone Market
25May By AnkitaNo Comments
Tech

Asus Aims 5% Share in Indian Smartphone Market

Taiwanese handset maker Asus today said it is looking to achieve 5 per cent share in the countrys smartphone market. "Our first milestone is to achieve 5 per cent share in the smartphone market. From our side we are pushing all the measures to achieve it...," Dinesh Sharma, Director ? Mobile Product Centre for ASUS India, said after launching 4G enabled Zenfone Live for Rs 9,999 a unit. Sharma, however, did not disclose any fix timeline for achieving the 5 per cent market share target. He said the company sells handsets in almost all price segments starting from Rs 7,000 and going up to Rs 60,000. "We have products available which meet the need of customers in that segment. We want to get in hearts and minds of Indian consumers. Given the intensity of competition, our growth h...
Read More