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  • India Ratings and Research revises country’s FY17 GDP growth to 7.8%

    In a major boost to economic growth for 2017, the India Ratings and Research (Ind-Ra) has revised its gross domestic product (GDP) growth forecast for Fiscal Year (FY17) upwards to 7.8% from its earlier forecast of 7.7%. The upward revision has been prompted by the progress of monsoon and the[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…]

  • ‘Apple of China’ Xiaomi loses the market to its rivals in China

    Xiaomi which has the image of ‘Apple of China’ for the kind of stylish phones it delivers is losing the Chinese market to its rivals. According to new data from research firm IDC, Xiaomi’s sale dropped in China by 38% in the second quarter of 2016. Xiaomi which was launched[Read More…]

  • Ebix CEO Robin Raina rings opening bell at the Bombay Stock Exchange

    Robin Raina, CEO of Ebix, Inc. rang the opening bell of the Bombay Stock Exchange (BSE) on Wednesday, underlining the company’s expansion plans in the Indian market. BSE Managing Director and CEO Ashish Kumar Chauhan felicitated Raina with a BSE memento to mark this occasion, as Raina lit the welcome[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…]

  • 6 things you should know about the much debated GST bill

    Ahead of the long-delayed Goods and Service Tax (GST) bill being taken up by the Rajya Sabha, the government has circulated to the MPs the amendments it has proposed in the GST bill. There has been a lot of debate over the GST; here we have simplified what the bill[Read More…]

  • 5 things the Uber-Didi Chuxing deal tells us

    Ride-hailing app Uber has decided to merge its China business with market leader Didi Chuxing. Uber global will receive 5.89 percent in the combined company that would be valued at $35 billion. Chairman of Didi Cheng Wei, will join the board of Uber while Travis Kalanick, Uber Chief Executive, will[Read More…]

  • Flipkart adds Jabong, becomes the biggest fashion destination in India

    Flipkart announced its acquisition of Jabong from Global Fashion Group for an undisclosed amount on Tuesday. Other competitors which wanted to take over the fashion portal included Future Group, Snapdeal and Aditya Birla’s Abof. This makes Flipkart the biggest fashion shopping destination in India. Co-founder of Flipkart Sachin Bansal took[Read More…]

  • Verizon buys Yahoo for $4.8 billion

    Yahoo has agreed to sell its core website business to Verizon Communications for $ 4.8 billion, according to multiple reports. On February 3, Yahoo had announced that it is open for a bid to explore other strategic alternatives. After months of wait, Verizon bought the staggering company at lowest price[Read More…]

  • Hero MotoCorp launches its first indigenously developed bike – Splendor iSmart 110

    New Delhi: For Pawan Munjal, Chairman and CEO, Hero MotoCorp Ltd. it was a proud moment to launch Hero’s first indigenously developed and designed motorcycle – Splendor iSmart 110 on Thursday here. Splendor iSmart 110 will be priced at INR 53,000 (Ex-showroom Delhi). The bike is powered by the new110 cc[Read More…]

  • India has solved the coal problem and is on the way to become a coal exporter

    Union Power Minister Piyush Goyal proudly announced on Tuesday that Coal problems are now history and the government will further boost domestic production to cut down on the imports that will result in savings to the tune of Rs 40,000 crore this year. “Last year, the reduction in imports of[Read More…]

  • Cairn Energy seeks $5.6 billion from India

    Cairn Energy filed a case against India in an international arbitration court seeking compensation of $5.6 billion for raising a retrospective tax demand of ₹29,047 crore on a 10-year old internal reorganisation of its Indian unit. The firm says India has not given its investments “fair treatment” as expected under[Read More…]

  • Who’s more ‘desi’: Uber or Ola?

    Acrimony among unicorn startups is the latest trend. Gone are the days when companies made their dissent for the competition known in hushed circles. Today’s startups are far more aggressive. After several Twitter repartees between online e-tailers, Snapdeal and Flipkart, the latest fight is between taxi aggregators, Ola and Uber.[Read More…]

  • The fault in our startups

    Just six months after firing over 300 people and facing mass backlash over the layoffs, restaurant search and discovery service, Zomato is again hiring people. As Newsd discovered, the company website is proudly carrying the “We’re Hiring!” advertisement on its homepage. (see image) This periodical cycle of hiring and firing[Read More…]

  • India ranks at low 105th out of 130 countries on worldwide Human Capital Index

    India has been ranked considerably low at 105th position globally on a worldwide Human Capital Index, which measures countries’ ability to nurture, develop and deploy talent for economic growth and was topped by Finland. WEF in its report said that the country has optimized just 57 per cent of its[Read More…]

  • Bisleri, Aquafina, Kinley under FSSAI scanner in India

    According to media report, the Food Safety and Standards Authority of India (FSSAI), the body which regulates the food and water in the country, has put some of the biggest names in the packaged water manufacturer market under the scanner for not operating with proper licenses. According to the report,[Read More…]

  • Flipkart ranked no 1 followed by Amazon in Linkedin India’s most preferred employers

    The Linkedin Professional networking site that recently announced the Top Attractors report across the countries. These companies are the companies who hire the top talent and regards to be the most attractive in the Industry. Several tech companies are listed in the survey which includes apart from India several countries like[Read More…]

  • After ‘cheapest smartphone’, Ringing Bells to launch ‘cheapest HD LED TV’

    Ringing Bells, the makers of the “cheapest smartphone” Freedom 251, are now planning to take on the TV market by storm. They plan to launch the “cheapest” HD 32-inch LED TV called the Freedom in the first week of July for under ₹10,000. Offering a big-size TV for the price of a[Read More…]

  • SoftBank President Nikesh Arora quits

    President and chief operating officer of Japan’s SoftBank Corp. Nikesh Arora, will step down from the telecom giant effective June 22, the company said on Tuesday. Arora was the third-highest-paid executive in the world last year, according to Bloomberg. He earned about 16.6 billion yen ($135 million) between joining the[Read More…]

  • In war-mode, Ola offers outstation, rental deals

    Ola is introducing outstation rides and rental deals this month. The outstation facility will allow customers to book a cab two hours in advance for intercity travel while rental enables customers to rent a car on an hourly basis. Facing stiff competition from Uber, the taxi-hailing app may launch self-drive[Read More…]

  • Centre to fund initiatives from unclaimed PF money

    Niti Aayog is considering using unclaimed provident fund money to the tune of ₹43,000 crore to fund government initiatives like Swachh Bharat Abhiyan and Housing for All—these are delayed due to insufficient funds. While this money can be fuelled into any scheme, it needs to be secured as it can[Read More…]

  • No invites needed for OnePlus3 purchase, to launch on 14 June

    Amid all the rumours and hype building around the OnePlus3, the company is all set to launch its fourth smartphone on June 14. As the launch date approaches closer, the company’s co-founder Carl Pei has said that the OnePlus 3 will be sold invite-free, right from the day of launch.[Read More…]

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