business

How Reliance Jio choke-slammed its telecom competitors

Mukesh Ambani’s announcement of Reliance Jio services turned out to be a nightmare for other telecom operators. Soon after Ambani’s announcement of Jio, shares of Bharti Airtel and Idea sunk by 9% and 11% respectively and together they lost Rs 15,600 crore. Shares of other telecom companies also fell on the Bombay[Read More…]

Telecom war on: Ambani announces Reliance Jio services

The much awaited Reliance Jio is here to offer you some unbelievable plans. Reliance Industries chairman Mukesh Ambani on Thursday formally announced the start of Reliance Jio services across India. Ambani announced free voice calling within the country, zero roaming charges and cheaper data tariffs for Jio customers. Shares of[Read More…]

Hike raises $175 million in funding, to take on WhatsApp in India

Instant messaging application Hike raised $175 million (₹1,200 crore) from China’s Tencent and Taiwanese firm Foxconn, marking one of the biggest transactions in the Indian startup industry this year. Its existing investors, Tiger Global, Bharti Enterprises and SoftBank Group, also participated in the round of funding. This takes the valuation of[Read More…]

Ola shuts TaxiForSure, lays off 700 employees

App-based aggregator Ola has ended its TaxiForSure operations, laying off around 700 employees in the process. Ola acquired its domestic rival a year and a half ago to take on Uber. The acquisition, which cost $200 million, was to increase Ola’s market share. Since the merger, Ola has been integrating[Read More…]

The curious case of money siphoning in GIFT city project

Finance Minister, Arun Jaitley in the latest budget approved various tax exemptions to Gujarat International Finance Tech-City (GIFT City) which is country’s first International Financial Services Centre (IFSC) being established between Ahmedabad and Gandhinagar. The project received the much-required recognition from the finance minister despite the fact that the clouds[Read More…]

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