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Amazon Sees Future Growth In Medicine, Consumer Goods

Amazon Sees Future Growth In Medicine, Consumer Goods

NEW DELHI – FMCG will continue to be a growth driver for Amazon India, which indicated it may include medicines as a new product category given greater legal clarity is in place.
“FMCG has grown by 165 per cent last year and 250 per cent in 18 months. All segments of Amazon are growing and I [...]

March 4th, 2017 | Posted in Business | Read More »

Reliance Jio Crosses 100 Million Subscribers, Says Chairman Mukesh Ambani

Reliance Jio Crosses 100 Million Subscribers, Says Chairman Mukesh Ambani

NEW DELHI – Reliance Industries chairman Mukesh Ambani announced on Tuesday that his telecom company, Jio, will start its tariff plans from April 1.
“Reliance Jio has crossed 100-million customers mark in just 170 days,” he said at a press conference in Mumbai.
India’s richest businessman thanked his subscribers and promised that his company will provide the [...]

February 27th, 2017 | Posted in Business | Read More »

Kraft Heinz Withdraws $143 Billion Bid To Buy Unilever

Kraft Heinz Withdraws $143 Billion Bid To Buy Unilever

LONDON – The US food giant Kraft Heinz has dropped its bid to buy Unilever days after it rejected a $143 billion buyout offer, the companies said today.
Kraft Heinz had signalled on Friday that it would press ahead with its campaign after the British-Dutch consumer products manufacturer said the initial proposal “fundamentally undervalues” its worth.
However, [...]

February 27th, 2017 | Posted in Business | Read More »

Indian Economy To Reach $ 5 Trillion By 2025: Morgan Stanley

Indian Economy To Reach $ 5 Trillion By 2025: Morgan Stanley

NEW DELHI – India’s millennial population is a massive disruptive force and driven by this supportive demographics along with government’s policy action, Indian economy is likely to reach $ 5 trillion by 2025, says a report.
India’s $ 2.2 trillion economy makes it the seventh largest in the world in terms of nominal GDP (and the [...]

February 27th, 2017 | Posted in Business | Read More »

65% Indian Startup Leaders Believe The Sector Is In A Tech Bubble

65% Indian Startup Leaders Believe The Sector Is In A Tech Bubble

MUMBAI – Nearly 65% of startup executives and founders believe that the Indian startups are in a technology bubble, while 18 per cent feel that the bubble was close to bursting soon, a study by venture debt and specialty lending business, InnoVen Capital, said.
The India Startup Outlook Report 2017 highlights the perspective with responses from [...]

February 18th, 2017 | Posted in Business | Read More »

Boardroom Tussle At Infosys May Lead To Big Changes

Boardroom Tussle At Infosys May Lead To Big Changes

BENGALURU – The Infosys founders’ discontent with matters of governance at the company could lead to changes on the board, according to several analysts that TOI spoke to.
This could be one major step towards also resolving the ongoing tussle in the firm.
The promoters have sought the appointment of a co-chair and replacement of the head [...]

February 18th, 2017 | Posted in Business | Read More »

Competition From Reliance Jio Pushes Idea Cellular Into Huge Losses

Competition From Reliance Jio Pushes Idea Cellular Into Huge Losses

NEW DELHI – Telecom operator Idea Cellular on Saturday logged a consolidated net loss of Rs 383.87 crore for the December 2016 quarter compared to a net profit of Rs 659.35 crore in the year-ago period, hurt by newcomer Reliance Jio’s free voice and data promotions.
Total income also has decreased to Rs 8,706.36 crore for [...]

February 18th, 2017 | Posted in Business | Read More »

Rupee To Weaken To Record Low Over The Coming Year

Rupee To Weaken To Record Low Over The Coming Year

NEW DELHI – India’s rupee will reverse recent gains and sink to a record low in the coming year on expectations for a rise in the dollar even though U.S. President Donald Trump has made clear his dislike of a strong currency, a Reuters poll found.
The rupee has appreciated more than 1% so far this [...]

February 11th, 2017 | Posted in Business | Read More »

Raees And The Tale Of Gujarat’s Rs 25,000 Crore Illegal Liquor Business

Raees And The Tale Of Gujarat’s Rs 25,000 Crore Illegal Liquor Business

MUMBAI -  The film Raees, starring Bollywood superstar Shahrukh Khan, in a way is a blow on the governance, and questions the ability of the Gujarat government to put an end to the state’s illegal liquor trade.
In the movie, the prologue pegged the illegal liquor business in the state at Rs 25,000 crore, and went [...]

February 11th, 2017 | Posted in Business | Read More »

Some Disgruntled Facebook’s Investors Want CEO Mark Zuckerberg Removed

Some Disgruntled Facebook’s Investors Want CEO Mark Zuckerberg Removed

Facebook CEO Mark Zuckerberg might soon face a Steve Jobs moment in his life as some shareholders of the company have filed a plea to remove him from the company’s board of directors.
NEW YORK – In what can only be called a Steve Jobs and Apple moment, some shareholders of social network Facebook have filed [...]

February 11th, 2017 | Posted in Business | Read More »