Indian e-commerce giant Flipkart announced a collaboration with Adani Group on April 12 to expand its supply chain base. Under the strategic and commercial partnership, Adani Logistics Limited will help Flipkart in strengthening its supply infrastructure and will construct a logistics hub in Mumbai. The collaboration is likely to generate 2,500 direct and thousands of indirect jobs. Additionally, Flipkart will open a data centre at… read-more
Google extended the deadline for free storage to February 2022, rather than June 2021, as initially expected. Though, this update is only applicable to the current WorkSpace and GSuite Google Docs, Sheets, Slides, Drawings, Forms, or Jamboard images. Users of personal Google accounts will appear to be subject to the June 2021 deadline. According to Google, the majority of the users will not be affected by this change.
Courtesy: India Today
South Korea-based electronic giant LG on April 5 announced its departure from the smartphone market, citing heavy loss. The company had earlier revealed of suffering $4.5 billion loss in the past six years. Interestingly, in the smartphone market, now led by Apple and Samsung, LG had become the third-largest player in 2013 due to its innovations. With the exit, LG aims to focus on electric vehicles, artificial intelligence and smart-homes.… read-more
To give rise to innovative solutions across all spheres of business, GMR Group has released its new business vertical on April 3. Through the 'GMR Innovex', the infra major aims to instill innovation and entrepreneurship spirit by partnering with startups, corporates and research institutions. Besides offering range of solutions, it launched an innovative facility at Hyderabad Airport. Notably, the GMR airports were the first ones to launch e… read-more
Courtesy: The Economic Times
As India enters the second wave of Coronavirus, reports have observed that a second lockdown will adversely impact the businesses with the service sector becoming the worst sufferer. Reports also suggested that contact-based services might slip and nominal GDP growth may suffer if situation persists. According to a recent data released by the Centre, business output of eight core infrastructure sectors in February reduced to 4.6%, while it… read-more
Courtesy: News 18
The Union government gave a nod for a Production Linked Incentive scheme worth Rs 10,900 crore in the food processing sector. The scheme will generate over 2.5 lakh jobs by 2026-27 and enlarge the food processing capacity. Moreover, incentives worth Rs 2 lakh crore have been approved for 13 sectors. Besides, the scheme will fulfil the need for organic foods and ready to eat foods from India in the global market.
Courtesy: The Times of India
Union Finance Minister Nirmala Sitharaman on April 1 announced the roll back of recent orders related to the slashing of interest rates on small saving schemes. Taking to Twitter, the FinMin stated that "the rates which existed in the last quarter of 2020-21" shall be continued. Earlier, on March 31, the government had slashed the interest rates on small schemes, including PPF and NSC, by up to 1.1%.
Courtesy: Hindustan Times
A recent study by Boston Consulting Group (BCG) has suggested that 87% of Indian businesses are preferring a flexible work model through video conferencing solutions. The COVID-19 employee sentiment survey showed that 70% of managers preferred remote working models if compared to the pre-pandemic times. Interestingly, the survey expects over a third of employees to work remotely in the post-pandemic time as well. The survey considered… read-more
Courtesy: Live Mint
The Centre and the Japan International Cooperation Agency (JICA) have signed a deal worth Rs 3,717 crore for the second phase construction of Bangalore Metro. JICA, which earlier had granted loans for Delhi, Chennai, Kolkata, Mumbai, Ahmedabad and the first phase of Bangalore metro, will now fund the second-phase construction covering line R6, phase 2A and 2B. The construction of part 2A and 2B covering 80+ kilometres is expected to be… read-more
Courtesy: Hindustan Times
The closure of its six debt schemes in April 2020 has bagged Rs 15,272 crore for Franklin Templeton Mutual Fund till March 15. The amount received has been credited to maturities, coupons and pre-payments. The Net Asset Value (NAV) of the shut schemes is also estimated to be more than the last year. Forced to shut the schemes due to liquidity crunch, the company got assistance from SBI Funds Management for liquidating its schemes.
Courtesy: Business Standard