Here are the Business Headlines as on 22nd May 2017:
- GST : Hotels have asked for clarification if the GST will be applicable on Published rate or the rate of actual sale as hotels keep offering discounts based on the travel season.
- State Bank of Hyderabad (SBH) has moved liquidation of Nimbus Communications, promoter of sports channel Neo due to loan default of more than Rs.38 Crores. Nimbus is working on restructuring and a one-time settlement offer to the bank.
- Discounts upto 10% on mobile phone brands may be offered before expected price hike due to GST.
- Tata Cliq, the etail arm of Tata Industries, is expected to outgrow the brick-and-mortar business”Trent” which clocked sales of about Rs.2400 Crores during fy 15-16.
- GSP (GST Suvidha Provider) License has attracted many interests and 34 have already been shortlisted including Tally, EY, etc.. Flipkart with its focus on small and medium sellers is also in the fray as simplifying the taxation for suppliers shall aid Flipkart’s growth.
- Delhivery, valued at approx. Rs.4800 crore, has received a tranche of Rs.200 Crores from Chinese firm Fosun International as part of a larger round of around Rs.1000 Crores.
- Jones Lang LaSalle Residential (JLLR) will hire about 650 brokers to expand both its online and offline presence in housing brokerage market. An investment of Rs.150 Crores is also planned.
- IT firms Wipro, TCS and Infosys are trying hard to meet expenses as revenue from their old businesses is falling and there’s not enough revenue from new digital businesses like Data Analytics.
- SoftBank Vision Fund has received $93 billion in cash for its new $100 billion fund for investments in tech start-ups in the US, Europe and Asia including India. It will invest in and acquire both listed and private technology firms and start-ups in areas such as artificial intelligence, robotics, mobile applications & computing, consumer Internet and financial technology.
- FlexiLoans, a digital lending platform, has acquired CreditPeriod.com which operates in the business of supply chain financing.