Here are the Business Headlines as on 11th April 2017:
- Nalco readies Rs 25,000-crore investment for expansion.
- 25,000 petrol pumps to shut shop on Sundays. A section of petroleum dealers said they would shut their retail outlets every Sunday starting May 14. Many see this as a tactic to pressure government for higher commission.
- Flipkart has raised $1.4 billion in funding, the largest so far in this space, from Chinese internet giant Tencent, along with US majors Microsoft and eBay. As part of the deal, the India unit of San Jose-based e-commerce corporation eBay will come under the Flipkart fold.
- Cybertheft attempt on Union Bank of India resembles Bangladesh heist.
- Brands to get a ticket to ride on Indian Railways. To boost revenues, the Indian Railways will soon be inviting bids for vinyl-wrapped advertisements on trains. The move is likely to cover 10,000 trains, garnering an additional revenue of Rs 2,000 crore for the national carrier.
- RP-Sanjiv Goenka Group, operator of CESC and Spencer’s Retail, is set to enter the consumables business by launching packaged snacks on the advice of consulting firm McKinsey.
- Tesla passes General Motors to become America’s most valuable carmaker. The turnabout shows the extent to which investors have bought into Tesla CEO Elon Musk’s vision that electric vehicles will eventually rule the road.
- The appointments of B. Venugopal and Sunita Sharma as managing directors of LIC brings back the top management to full strength.
- GST Rate – Following a four-tier structure of GST, it is expected that about 70% of all goods could fall in the 18% bracket. This would mean savings for consumers.
- Benefit of competition to consumers for retail banking services.Saving rate of upto 7.25% on offer.
- Hooq, with 1m subscribers through its partnerships with telecom operators and internet service providers, now wants to enter as OTT player or app targeting subscribers of video services directly.
- Super bikes Triumph, Indian and Harley-Davidson are all enthused by the growing numbers and target sales of above 1500 units each for the year.
- Gionee books Rs.150 crore orders for A1 selfie phone.
- Ninjacart, a business to business agri marketing platform, raises Rs.37 crore from Mistletoe.
- Treebo, chain of budget hotels, owned by Ruptub Solutions, has delisted all its properties from Makemytrip and Ibibo platforms.
- Omnify, a software-as-a-service platform (SAAS), raises Rs.97 Lakh from Google India MD, Rajan Anandan & others.
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