Monday, May 27

Tag: Growth

BLOGS

‘Fake it until you make it’ Attitude May Backfire at Work

According to a study, Faking a positive attitude to elicit benefits may backfire when used with co-workers and making an effort to communicate the felt emotions can be more productive. The study, published in the Journal of Applied Psychology, surveyed working adults in a wide variety of industries including education, manufacturing, engineering, and financial services for two types of emotion regulation surface acting and deep acting. "Surface acting is faking what you're displaying to other people. Inside, you may be upset or frustrated, but on the outside, you're trying your best to be pleasant or positive," said Allison Gabriel, study co-author. "Deep acting is trying to change how you feel inside. When you're deep acting, you're actually trying to align how you feel with how...
OYO Expects to Double Down on Growth in its Home Market
BUSINESS

OYO Expects to Double Down on Growth in its Home Market

OYO Hotels & Homes is “well-capitalised” and will be doubling down on growth in its home market of India. From the ongoing funding round, it plans to invest a fifth, or $200 million, in Asia’s third-largest economy. The SoftBank-backed company, which is in the process of raising $1 billion (Rs 7,000 crore) from a clutch of investors, doesn’t have any plan to raise further capital. “Today, we are committing to invest $200 million in India, with the focus on building strong capabilities that will help us further improve the quality of customer experience in India. We will cross leverage this in other markets as well,” he said. The communique suggests a shift in OYO’s strategy from focusing on profitability — last fiscal year it had cut losses by a third to pushing gr...
San Jose-based GlobalLogic Looks Forward to Active Acquisitions
BUSINESS

San Jose-based GlobalLogic Looks Forward to Active Acquisitions

San Jose-based GlobalLogic, an engineering services company has reported that it will now actively look forward to acquisitions in cybersecurity, retail, medtech and automotive sector. The idea behind this is to grow to a $2 billion business in the next five years. The IT outsourcing firm is on track to clock $650 million in revenue for the current fiscal and is growing at over 24% organically. In the current fiscal, the company recorded 5 percent sequential growth in the first two quarters of the current fiscal. “Organically at 23-25% organic growth, I can achieve the $1 billion mark. I want M&A not for my numbers,” said Shashank Samant, chief executive of GlobalLogic. “At present we are working on three areas where we need to get further advantage: a security company, a company i...
Digital Lending in India Expected to Grow to $100 Billion by 2023
INDIA

Digital Lending in India Expected to Grow to $100 Billion by 2023

A joint study by Omidyar Network and Boston Consulting Group (BCG) has reported that digital lending to micro, small and medium enterprises (MSME) in India can grow upto 7 lakh crore by 2023, a 15x increase in annual disbursements. “As of 2018, most of the credit demand for $600 billion is being met through informal sources,” said Roopa Kudva, partner and managing director, India at Omidyar Network. “Digital lending has the potential to propel the productivity of India’s MSMEs, disrupt the status quo in financial services, and offer a meaningful market opportunity for both innovative startups as well as traditional lenders,” he added. India’s 60 million MSMEs - businesses with annual revenue up to Rs. 250 crore (approximately $35 million) –make an enormous contribution both to India’s...
BigBasket Aims 40% Revenue from Private Labels Next Fiscal
BUSINESS

BigBasket Aims 40% Revenue from Private Labels Next Fiscal

The online grocery player BigBasket that aims to be a billion-dollar company by the next fiscal year, is expecting 40 percent of its projected revenue to come in from its private labels. The company is expecting to clock Rs 3,500 crore in sales this fiscal year, up from Rs 2,000 crore last year. "Private labels are around 34 per cent of our business now and we plan to scale this to 40 per cent in about a year. The incremental 6 percentage points of revenue will come from non-fruits and vegetables and non-staples," said BigBasket co-founder and chief executive Hari Menon. The Bengaluru-based company is also looking to add a lot of categories to the private labels vertical. BigBasket said that the FMCG sales overall (food and non-food) contributes over 50 per cent of its business...
China’s AI Industry has Embraced Growth
CHINA

China’s AI Industry has Embraced Growth

China's AI industry has embraced rapid growth in recent five years. China's large population created advantages in big data, which is the key driver for AI ecology today represented by deep learning. "At the basic scientific level, there is still a gap between China and the United States. While at the application level, China is able to become the world's leading experimenter," Wang said. Beijing-based Sogou, which went public on the New York Stock Exchange in November last year, runs China's most popular input method and the second-largest search engine and Sogou browser. Sogou's language-centered AI technologies have been widely applied in providing daily and simultaneous interpretation services in various scenarios. Sogou launched the world's first virtual anchor technology on t...
Do You Know India’s First Profitable E-commerce Company Lost its 71% Value in One Day
Market

Do You Know India’s First Profitable E-commerce Company Lost its 71% Value in One Day

Indian internet and e-commerce conglomerate Infibeam which is one of the most important companies in the country has lost 71 percent of its market value on a single day after a WhatsApp message circulating among traders raised issues about the e-commerce company’s accounting practices. The stock of the company collapsed as much as 73 percent before closing 71 percent lower at 58.45 rupees on Friday. The WhatsApp message was sent a few months ago by an Equirus analyst to some clients. This was told by people familiar with the matter asking not to be revealed as they aren’t authorized to speak on the matter. The fall in the valuation induced the company to make a voluntary clarification or explanation to the exchanges stating that there was no pending information or announcement tha...
China’s Software and IT Sector Witnesses Faster Growth
CHINA

China’s Software and IT Sector Witnesses Faster Growth

China’s software and IT sector are reportedly witnessing faster growth in terms of both revenue and profit in the first eight months of the year. According to the Ministry of Industry and Information Technology (MIIT), the total revenue of the sector was around $574.19 billion (3.95 trillion yuan) in January-August, increased from 14.8 percent from the last year, quickening from 13.8 percent in the same period a year ago. Combined profits in the sector marked 492.4 billion yuan, up 13.7 percent year-on-year. These picked up the pace from 12.1 percent a year ago and 13.5 percent in the first seven months. Along with this, the MIIT data also showed faster export growth and increases in both, the number of employees and the average salary level as well. China's software and IT sector wi...
San Francisco-Based Stripe Secures $245 million to Fuel Growth
FUNDING

San Francisco-Based Stripe Secures $245 million to Fuel Growth

US fintech startup Stripe has reportedly raised funds amounting to $245 million in a financing round. The funding round has valued the company at $20.25 billion, a dramatic surge from its most recent $9.2 billion valuation in 2016. The funding round was led by billionaire investor Chase Coleman's hedge fund Tiger Global Management, and also saw participation from DST Global and Sequoia. The funds raised through this round are being planned to be used to fuel growth in key overseas markets such as Southeast Asia and India, where it plans to tap into the growth of the e-commerce industry to expand its payments products. The company also claimed that more than 500 million people in Southeast Asia and India are expected to become online customers in the next three years. Along with th...
IoT Market in China is Witnessing Rapid Growth
CHINA

IoT Market in China is Witnessing Rapid Growth

The internet of things (IoT) market in China reached more than 1 trillion yuan ($146 billion) last year, and is expected to maintain rapid growth in the next few years. In China, IoT has enjoyed a compound annual growth of more than 25 percent from 2009 to 2017, and the IoT cloud platform has become the key to ignite competition in the field. IoT basically refers to the connection of various electronic devices to the internet via technologies such as wireless sensor networks. A report known as the Annual IoT Industry Development Report of China stated that the nation's IoT market will hit 1.5 trillion yuan by the end of this year. "Fueled by the government's supportive policies, forward-thinking domestic internet and tech titans, the country's IoT sector has actually entered a new stag...
IT Firm Hexaware Technologies Profit Up 25.4%
BUSINESS

IT Firm Hexaware Technologies Profit Up 25.4%

Hexaware Technologies, an IT services firm recently reported a profit after tax of Rs 153.6 cr for the second quarter of 2018, up 14.3% sequentially and 25.4% year on year. The revenues reported by the company are of Rs 1136.7 cr, up 8.4% sequentially and 15.4% YoY. In dollar terms, constant currency revenue was at $169.8, up 4.7% QoQ, and PAT at $22.7M; up 9.5% QoQ, 19.5% YoY Hexaware Technologies is an information technology and business process outsourcing service provider company based in Navi Mumbai, India. Founded in 1990, the company provides software services in, -Banking -Financial Services -Capital Markets -Healthcare -Insurance -Manufacturing -Retail -Education -Telecom -Professional services (Tax, Audit, Accounting and Legal) -Travel -T...
India More Attracted To Biz Than WB Ranking Index Suggests
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...