Today’s Business News Headlines – 7th June 2017 –

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Here are the Business News Headlines as on 9th June 2017:

  • H1B Visa approval for top 7 Indian IT Companies in US including TCS, Wipro, Infosys dropped by 37 percent (5436 nos.) in 2016 compared to last year. With the Trump Government further tightening the visa norms, the numbers are expected to drop more.
  • Reebok India has applied for permission to set up single brand retail stores in India. Currently Reebok sports shoes and clothes are being sold by Adidas AG.
  • GST update : With GST all set to roll on 1st July, Industry bodies such as CAIT and RAI are organising countrywide classes to teach small businesses the nitty-gritty of GST and helping them become GST compliant.
  • Lightbox, a VC firm, which has backed start-ups such as Faasos, Embibe, Furlenco and Droom, having a corpus of $100 million shall invest in another 4-5 companies over the next 12-18 months before raising new fund next year.
  • Quiklo, a financial technology start-up providing loans to students for buying consumer durables such as phones and laptops, has launched an education finance service. As part of the new service, students can avail loans to pay course fees or even test preparation fees.
  • Spinny, online platform for buying and selling pre-owned cars, has raised $1 million in seed funding led by Blume Ventures. The fund shall be invested in technology platform and opening retail hubs.
  • NEC, Japanese Technology firm, is setting up an Analytics Centre in Noida with an expected revenue of $100 million within the first three years. The firm would focus on telecom, manufacturing and BFSI verticles.
  • Flipkart is gradually entering the Online Advertising and Performance Marketing space for BFSI, consumer durables and fashion products. This follows current trend in the market where online retailers are trying to increase revenue by additional streams.

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