India | Pixr8 News

14Jun By Gauri SinghNo Comments

Market

Danish Brewer Carlsberg Plans India IPO

The popular beer manufacturer Carlsberg is working out on a local initial public offering (IPO) of its Indian business. The Danish brewer is reportedly looking for potential i-bankers for the share sale over the next few weeks. The Carlsberg Group is a Denmark-based company that is one of the leading brewery groups in the world today. The company is mainly known for its large portfolio of beer. It started its operations in India in 2007 but the Indian customers have been consuming its beer much before that. The credit of the success of Carlsberg’s products globally and in India can be given to the quality consciousness and the technological proficiency developed by the breweries. And because of these attributes, Carlsberg has been positioned on the third rank among the world’s largest b...

Paytm Claims to Fetch Over 30 Lakh Rural and Semi-Urban Users

11Jun By Gauri SinghNo Comments

News

Paytm Claims to Fetch Over 30 Lakh Rural and Semi-Urban Users

With 186 million users as of December 2017, India’s most popular digital payments platform Paytm has witnessed an increase in the customers from semi-urban and rural parts of the country. Paytm believes that the rural people are using its service more than in metro cities or urban regions. The digital company Paytm that works on cashless transactions through its smartphone application and QR code solutions claims to have its strong influential existence in more than 3 lakh villages in the country. It also affirms to have engaged over 30 lakh merchants accepting digital payments across villages and small towns like Kangra, Angul, Unnao, Kakkanav, Chitra Durga, Giri Nagar, Virudhu Nagar and many more. The company said that the digital payments usage in these areas was 20% more than in ...

9Jun By Gauri SinghNo Comments

CHINA

What is SCO Summit? How It Will Help Countries Like India, China & Russia

The Shanghai Cooperation Organisation (SCO) is an organization of countries which was introduced on 15th June 2001 in Shanghai, China. The organization was inaugurated by the leaders of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan. It came into force on 19th September 2003. Currently, an SCO summit is organized in Qingdao, China which is ought to be attended by representatives of all the member countries along with our country’s Prime Minister Narendra Modi. Modi on Saturday morning departed for China to attend the two-day long 18th Shanghai Cooperation Organisation (SCO). WHAT IS SCO? The Shanghai Cooperation Organisation (SCO) is an international alliance that consists of 8 member states and 3 observers from Eurasia. SCO was born for collaboration between...

ED’s Questioning to Raj Kundra for Bitcoin Scam Brings Out Other Celebrity Names

8Jun By Gauri SinghNo Comments

News

ED’s Questioning to Raj Kundra for Bitcoin Scam Brings Out Other Celebrity Names

Popular Bollywood actress Shilpa Shetty’s husband and businessman Raj Kundra was questioned by the Enforcement Directorate (ED) for eight hours Tuesday against being a witness in the act of concealing the origin of illegally obtained money related to the Rs 2,000 crore bitcoin scam in Maharashtra. Kundra was cited at the ED office in Mumbai in the morning and asked questions in this regard. The founder of GainBitcon, Amit Bhardwaj, who was the mastermind behind this fraud had earlier been arrested along with his brother Vivek in April for a criminal case under the Prevention of Money Laundering Act (PMLA) against cheating more than 8,000 people for Rs 2,000 crore. Kundra's name turned up in the report following alleged links with Bhardwaj. This isn’t the first time that Kundra has faced...

Temasek and Ascendas-Singbridge to Invest 2000 Crore in India

7Jun By Lavina TolaniNo Comments

BUSINESS

Temasek and Ascendas-Singbridge to Invest 2000 Crore in India

Global Investment Company Temasek and Singapore's Ascendas-Singbridge are looking forward to investing Rs. 2000 crore in India's industrial real estate and logistics sector. It is interesting to note that Ascendas-Singbridge has launched an "Ascendas India Logistics Programme" which has Temasek as its principal investor. Speaking of the latest development, Ascendas said in its official statement, Temasek and Ascendas-Singbridge Group have jointly committed Rs 20 billion (approx Singapore dollar 400 million) to invest in logistics and industrial real estate in key locations in India. The investment strategy for the programme will be executed by "Ascendas-Firstspace" which is a platform established by Ascendas-Singbridge and Firstspace Realty in 2017. Interestingly, India's indust...

6Jun By Gauri SinghNo Comments

BUSINESS

McDonald’s Running its Indian Business Amid all The Losses

The world’s largest fast-food chain McDonald’s is reportedly facing a huge amount of loss in India. McDonald’s India has announced its biggest loss amounting to INR 305 crore in the financial year ending in March 2017, after canceling the investments in Connaught Plaza Restaurants (CPRL) which ought to be its licensee partner. All this was because of a five-year-old official disagreement with CPRL. In this regard, McDonald’s India said, “Considering that CPRL is having significant accumulated losses as of date and considering that the company has terminated all its franchise arrangements in favour of CPRL, the management feels that its investments in CPRL are impaired and accordingly a provision of Rs 198.20 crore has been considered in the financial statements of the company for diminu...

5Jun By Gauri SinghNo Comments

INDIA

India Imports the Cheapest LNG Cargo from Russia : Know what is LNG

India has received its very first consignment of the cheapest Liquefied Natural Gas (LNG) under a longstanding contract with Russia. The gas has been imported into the country at a price of around $7 per million British Thermal Unit (mmBtu) by the Russian supplier Gazprom. Russia is the largest crude oil and second-largest gas producer in the world. The amount at which India has received LNG from Russia is far much cheaper ($1.5 per mmBtu cheaper) than that of Qatar, which is India’s biggest and oldest exporter of LNG. Our country is the fourth largest importer of LNG and its objective is to create a gas-based economy and bring diversification in the energy imports, which is currently intimidated by oil and coal. The LNG cargo was received at the port in Mumbai and according to the r...

Walmart Sells 80% Stake in its Brazilian Business

5Jun By Gauri SinghNo Comments

USA

Walmart Sells 80% Stake in its Brazilian Business

The American Multinational Retail Corporation Walmart Inc. has announced to sell the majority of its stake that is 80% stake in its Brazilian business operations to a private equity company Advent International Corp. decreasing its existence in countries where it is battling and struggling for profitability. Walmart is a US-based retail company which is the world’s largest firm in terms of revenue generation. The company is now on the tracks of exploring and expanding overseas by selling assets in lower-growth markets and investing in high-profit opportunities like India and China. Walmart expects to keep a 20% stake but, the terms and financial details of the deal have not been revealed as of now. The retail company, however, has expressed an expectation of recording a non-cash net ...

Ikea To Wage a “Price War” with its First Store in India

2Jun By Lavina TolaniNo Comments

BUSINESS

Ikea To Wage a “Price War” with its First Store in India

Swedish Furniture Making company Ikea could bring in a price war in India as it is all set to open its Hyderabad store, a first in the country, offering about 15% of its product at Rs. 200 or less, as informed by a company spokesperson. Per Hornell, Ikea Market Manager for Maharashtra said, We are very confident that we will enter the market with the lowest possible prices. There will be 1,000 products at prices below ₹200 when we open our store. However, the company is not much in hurry to expand its operations in India and will open its Mumbai store, its second in country tentatively by 2019. Ikea, known for its famous blue box stores has fleeting a digital presence that specialises in a range of do-it-yourself (DIY) products. Currently, it has 403 stores spread across 49 markets...

31May By Lavina TolaniNo Comments

INDIA

Niti Aayog to Push “Make in India” for Medical Devices

Government policy think tank, Niti Aayog is all geared up to boost production of medical devices in India. In its meeting held on Wednesday, the organisation discussed mull measures like tax-based incentives and caps on distributor and retailer margins, as reported by sources. The meeting was held under the chairmanship of regulatory body's CEO Amitabh Kant. A person concerned with the matter informed that the Niti Aayog is currently working on proposals o incentivise domestic manufacturing of medical devices following orders from the Prime Minister's Office. Another crucial matter discussed in the meeting was to bring down prices of medical devices as opposed to capping their maximum retail prices. One of the sources said, The government is looking at amending the Drug Prices Con...

Uber Records Eye-Dropping Profits That Will Be Reinvested in India

25May By Sheldan RungasamyNo Comments

BUSINESS

Uber Records Eye-Dropping Profits That Will Be Reinvested in India

Uber is currently facing a lot of competition with India-based cab aggregator rival Ola, in Australia. However, the global leader in the ride-hailing market’s CEO, Dara Khosrowshahi, reportedly stated that the company will keep investing in its products and technology in emerging markets such as India and Middle East. In an email sent to his employees, the recently appointed CEO stated that the company’s core business has been achieving well and saw the number of trips on the platform increase by 43% while bookings also rose by 55% to $11.3 Bn year-on-year. He further expressed that the company’s net revenue grew by 67% to reach $2.5 Bn while it was able to cut losses by half compared to the previous year. We are deliberately reinvesting our profits. Even with these impressive results,...

This Indian Startup is Solving the Problem of Indian E-commerce Space

17May By AnkitaNo Comments

Story

This Indian Startup is Solving the Problem of Indian E-commerce Space

With the rise of the e-commerce industry in India, parallelly there has been the continuous rise of problems related to online shopping. Problems like comparing prices of different websites, returns & exchanges, expert guidance, logistics, unawareness regarding new latest offers have become common for every online shopper. But now there is one startup named “Sabse Sasta Dukaan” which is solving all these issues by creating stores in every street & putting an Online shopping expert in it. The startup is an assisted e-commerce retail store where people can rely on online shopping experts to shop on their behalf & solve their issues. This innovative startup was founded by first-generation entrepreneur friends Mr. Anish Agarwal & Anant Jain of Kolkata in the year 2016. This r...