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Ola aims to double scale of business in Oz, NZ by 2021

Ola aims to double scale of business in Oz, NZ by 2021

A company source said the firm is looking to double the scale of business across parameters such as revenue, customers, driver-partners and the number of rides. Ola said it is "set to launch in 11 new locations each in Australia and New Zealand, taking its total presence across 33 cities in the region".

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CG Power: Mails show deliberate attempt to deny info

CG Power: Mails show deliberate attempt to deny info

A mail seen by IANS, shows that Omkar Goswami, an independent Director of the company suggested his colleagues to desist from sharing the minutes of meetings from Aprl 1, 2015 at "one go" to ousted Chairman Gautam Thapar. Thapar and other accused have blamed the current management of not providing the required documents sought by them to defend themselves.

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India beats West Windies by six wickets in first T20

India beats West Windies by six wickets in first T20

Kohli hit six sixes and accelerated just when the team needed to help India chase down a 208-run victory target with eight balls to spare at Hyderabad's Rajiv Gandhi International Stadium. KL Rahul, Kohli's collaborator in a century stand, made 62 but the India captain completed a clinical chase, going run-a-ball in his first 20 deliveries before plundering 74 in his next 30.

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US-China trade pact 'still close': White House

US-China trade pact 'still close': White House

"The deal is still close," National Economic Council Director Larry Kudlow told CNBC. "It is probably even a wee bit closer than when I first made that statement in November." He described the talks underway with Beijing as "intense," adding that they occur almost daily. Wall Street has moved up and down with officials' commentary on the chances of sealing a deal.

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View: Let’s get some direction on GPS

View: Let’s get some direction on GPS

In other countries, GPS devices have been used for the last two decades by the supply chain industry to improve operational efficiencies. India has been a slow follower. But the govt is finally trying hard to play catch-up, & it is imperative that this endeavour is successful. Ensuring success, however, is very challenging. A change in perspective could make all the difference.

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Apple iPhone 2021 to be 'completely wireless': Analyst

Apple iPhone 2021 to be 'completely wireless': Analyst

According to analyst Ming-Chi Kuo , the purported iPhone will be launched in the second half of 2021 and offers a completely wireless experience, without any USB-C port either. The wireless version is likely to be the highest-end model, MacRumours reports. Kuo also predicted that Apple will also launch a possible 'iPhone SE 2 Plus'.

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France rejects 'optional' US digital tax proposal

France rejects 'optional' US digital tax proposal

France has been at the forefront of efforts to tighten taxation of digital giants and parliament infuriated the administration of President Donald Trump in July by adopting a law taxing digital firms like Google, Apple, Facebook and Amazon for revenues earned inside the country.

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Bajaj Auto brings Husqvarna motorcycle brand to India

Bajaj Auto said it will launch Husqvarna in India as a part of its Probiking Business Unit that handles the company's premium motorcycle vertical. The Husqvarna Svartpilen and Vitpilen 250 will start retailing from February 2020 onwards. KTM showrooms will be upgraded to sell both KTM and Husqvarna high performance motorcycles, Bajaj Auto said.

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Retail onion prices now as high as Rs 165 per kg

Retail onion prices now as high as Rs 165 per kg

Onion prices have been ruling high for past few weeks due to fall in production of the Kharif crop following unseasonal rainfall in key growing states, including Maharashtra. The price of onion was ruling at around Rs 120/kg in Mumbai, Chennai and Kolkata, while it was around Rs 100/kg in Delhi on Friday, as per the latest data.

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US gains a robust 266,000 jobs; unemployment falls

US gains a robust 266,000 jobs; unemployment falls

The healthy job gain runs against a widespread view that businesses are struggling to find workers with unemployment so low. Persistent hiring should help keep consumers spending - a key engine of growth as businesses have cut their investment spending and exports have stalled.

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25 billion reasons: Why Saudi is listing its crown jewel

25 billion reasons: Why Saudi is listing its crown jewel

Despite its almost unimaginable oil wealth, Saudi Arabia's finances have sagged along with the price of crude, causing its budget deficit to balloon. It still has around $500 billion in fiscal reserves run by the country's central bank and some $250 billion managed by the public investment fund (PIF), the kingdom's main investment vehicle.

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Forex kitty continues to swell, scales past $451 bn mark

Forex kitty continues to swell, scales past $451 bn mark

Announcing the fifth bi-monthly monetary policy on Thursday, governor Shaktikanta Das had said the reserves touched USD 451.7 billion as of December 3, an increase of USD 38.8 billion since April.

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NSE appoints Girish Chandra Chaturvedi as chairman

NSE appoints Girish Chandra Chaturvedi as chairman

Leading stock exchange NSE on Friday said it has appointed Public Interest Director Girish Chandra Chaturvedi as its new chairman. The appointment comes following the approval of the markets regulator Securities and Exchange Board of India (Sebi). The position was vacant since Ashok Chawla resigned as the chairman of the National Stock Exchange(NSE) in January.

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NEFT transactions to be made 24x7 from December 16

NEFT transactions to be made 24x7 from December 16

Bank customers will be able to transfer funds through NEFT around the clock on all days including weekends and holidays from December 16, the Reserve Bank of India announced on Friday.

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'Zomato to raise up to USD 600 mn by next month'

'Zomato to raise up to USD 600 mn by next month'

The company is making all efforts to achieve its mission, 'Better Food for Everyone', Zomato founder Deepinder Goyal said. We started 11 years ago and now present in 550 cities in India and we serve around 48 million people every month. The hardest part of this journey has been to actually hire the number of people that the company has hired, he added.

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How hackers stole $1mn fund meant for Israeli start-up

How hackers stole $1mn fund meant for Israeli start-up

The Chinese venture capital firm was alerted by their bank earlier this year that there was an issue with one of their recent wire transactions. A few days later, the Israeli start-up realised they have not received their funding. Both sides got on the phone and quickly found out that their money was stolen.

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Retailers, services more open to hiring apprentices

Retailers, services more open to hiring apprentices

"The government has taken multiple initiatives like easing FDI norms, to boost retail sector, which have led to an increase in retail activity by way of expansion of local chains and malls. The only way to create workforce for this industry is through apprenticeship," TeamLease Skill University said in the report.

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IIT Delhi students receive 700+ job offers in five days

IIT Delhi students receive 700+ job offers in five days

The total number of job offers to IIT Delhi students stand over 750. The students selected are from undergraduate, post graduate and PhD programmes. Some companies who made domestic job offers include Microsoft with 30 offers including 2 international offers, Societe Generale - 13 offers, Mastercard - 11 offers, Standard Chartered - 10 offers among others.

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Rlys retires 32 officers before normal date of retirement

Rlys retires 32 officers before normal date of retirement

The only time in recent history when the railways undertook such a move was in 2016-17 when four officers were prematurely retired.

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China's national alcoholic spirit Baijiu enters India

China's national alcoholic spirit Baijiu enters India

About 1.2 billion cases of baijiu, a heritage white spirit from China made with sorghum at an ABV (alcohol by volume) of about 40%, are sold each year globally making it the world’s top selling spirit followed by whisky. While the global baijiu market was valued at about US$ 110 billion, the global whiskey market at US$ 56.7 billion in 2018.

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ET Wealth Wisdom: Safeguard against Karvy-like frauds

ET Wealth Wisdom: Safeguard against Karvy-like frauds

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File FDI compliance report annually: Govt to e-tailers

File FDI compliance report annually: Govt to e-tailers

"Against Sl. No. 15.2.3, for entry (p), the following entry shall be substituted, namely-(p) e-commerce marketplace entity with FDI shall have to obtain and maintain a report of statutory auditor by 30th of September every year for the preceding financial year confirming compliance of the e-commerce guidelines," the gazatte notification said

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Parl panel to take call on massive dues of coal PSUs

Parl panel to take call on massive dues of coal PSUs

The Standing Committee on Coal and Steel in a report tabled in Parliament on Friday also noted that huge amount of dues are outstanding from the state and other utilities for years.

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ET Daily Rundown: A dismal week

ET Daily Rundown: A dismal week

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Why this fund manager is betting against consumption

Why this fund manager is betting against consumption

We are cautious on the consumer space, where we think valuations are stretched specifically with the consumer staples pack. Between the consumer staples and consumer discretionary pack, there is still some upside left on the consumer discretionary side. But we are fairly cautious on the staples pack. On the consumption basket, we continue to be cautious on the auto sector.

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Axis Bank CFO Jairam Sridharan resigns

Axis Bank CFO Jairam Sridharan resigns

The private sector bank said Sridharan would like to pursue other career opportunities.

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Postmen may soon start selling insurance policies

Postmen may soon start selling insurance policies

The IPPB, which is a corporate agent, can seek permission from Irdai for sponsoring postmen and grameen dak sevaks of Department of Posts (DoP) to act as Point of Salesperson (PoS), Irdai said. ln case the authority grants permission, IPPB shall be responsible for all acts of omission and commission of the persons appointed as PoS, it added.

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Maruti recalls 63,493 units of Ciaz, Ertiga, XL6

Maruti recalls 63,493 units of Ciaz, Ertiga, XL6

"The company will inspect 63,493 vehicles of petrol SHVS of Ciaz, Ertiga and XL6 for a possible issue with the Motor Generator Unit (MGU)," MSI said in a statement. A possible defect may have occurred in the MGU during manufacturing by an overseas global part supplier, it added. The vehicles were manufactured between January 1, 2019 to Nov 21, 2019.

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Major US, global cities slowing amid worldwide slump

Major US, global cities slowing amid worldwide slump

Nine of the top 10 biggest global cities will slow next year, Oxford Economics researchers found in a report.

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NPAs have come down, not gone up: M&M Finance

NPAs have come down, not gone up: M&M Finance

We would definitely see H2 turn out to be much better than what we have seen in the past. The festival season was good and even November was good in retail sales. December seems to be promising. We do not have any major issues as far as growth is concerned -- in terms of volumes as well as AUM going forward.

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Why sugar price may not rise much despite lower output

Why sugar price may not rise much despite lower output

The government has been helping us. If this benign policy continues and which in all likelihood it should, in the next 2-3 years we should hopefully be on an even keel. I do not see the inventory being breached because of MSP. Right now, it is about Rs 32-32.5 a kg. It goes up to Rs 34 a kg.

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Haier makes a Rs 775 crore bet on Indian arm

Haier makes a Rs 775 crore bet on Indian arm

The infusion came after the local subsidiary, Haier Appliances India, more than doubled its authorised share capital to Rs 4,000 crore from Rs 1,900 crore, as per the latest regulatory filings made with the Registrar of Companies (RoC).

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NCLAT directs ED to file affidavit in BPSL matter

NCLAT directs ED to file affidavit in BPSL matter

A two-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya also asked the ED to clarify about its role after the attachment of assets of Bhushan Power and Steel Ltd (BPSL). The NCLAT has directed to list the matter on December 12 for the next hearing. The appellate tribunal was hearing a batch of petitions, against the attachment of BPSL assets.

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Stocks that have jumped up to 200% from 52-wk lows

Stocks that have jumped up to 200% from 52-wk lows

Data showed 127 of BSE200 stocks have hit their one-year lows this quarter.

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China most likely to become sole global power: Romney

China most likely to become sole global power: Romney

"First, China becomes the sole global superpower -- economically, militarily and geopolitically -- by the middle of this century. Second, China's ascension will be disrupted and halted by internal turmoil," he said.

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Tech firms are looking beyond traditional hubs

Tech firms are looking beyond traditional hubs

American headhunters also say that cities like Austin and Seattle are becoming technology hubs.

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5 stocks global brokerages are bullish on in Indian mkt

5 stocks global brokerages are bullish on in Indian mkt

Global brokerages are bullish on select blue chips and midcaps.

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Best large cap mutual funds to invest in 2019

Best large cap mutual funds to invest in 2019

Large cap mutual fund schemes, as the name suggests, invest in stocks of very large companies, or top 100 stocks with the largest market capitalisation.

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Banks gave USD 745 billion to new coal power plants

Banks gave USD 745 billion to new coal power plants

The report's release comes as world leaders met this week in Madrid for a 12-day UN climate summit, where they are expected to hammer out some of the details of the 2015 Paris agreement. But the report released by environmental groups on Thursday cites more than 1,000 new coal power stations or units in the pipeline.

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BNY Mellon to expand work done out of India

BNY Mellon to expand work done out of India

A few of its technology initiatives are already led out of India, especially around digital transformation; bank planning local CoE too. Accounting is one such area where Panicker expects its Indian operations to start doing more end-to-end work. The company relies on a mix of campus and lateral hires, focusing on training existing employees on new skills.

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Gates-backed startup is preventing newborn deaths

Gates-backed startup is preventing newborn deaths

In an era where technology has made healthcare easier, faster, and cheaper, maternal healthcare is still expensive and riddled with issues. Arun Agarwal’s low-cost portable device which measures fetal heart rate and uterine contractions is the need of the hour.

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Sales at microbreweries face a dry run for the first time

Sales at microbreweries face a dry run for the first time

About 170 microbreweries mushroomed in the past decade as the country’s high population of millennials showed keen interest in craft beer, a niche segment that still accounts for just 2-3% of the beverage consumption. Packaged craft beer brands such as White Owl and Geist are feeling the impact of the economic slowdown as well.

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JSPL hopeful of getting Gare Palma coal block: MD

JSPL hopeful of getting Gare Palma coal block: MD

In the October to December quarter (Q3), we will be surpassing all our records.

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SoftBank will have last laugh with WeWork: Bernstein

SoftBank will have last laugh with WeWork: Bernstein

Chris Lane of Sanford C. Bernstein says WeWork can have a bright future if SoftBank overhauls the biz plan.

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Panel to assess assets mortgaged by PMC borrowers

Panel to assess assets mortgaged by PMC borrowers

The bank is currently undergoing a forensic audit the report for which will be finalised by the end of this month. But simultaneously, other assets and mortgages are also being identified by investigation agencies and the banking regulator to get back the bank’s dues.

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UK’s Triumph Motorcycles retail sales up 10% in India

UK’s Triumph Motorcycles retail sales up 10% in India

While the slowdown hasn’t shown a significant impact on Triumph's sales, weak consumer sentiment did result in the motorcycle maker deferring its dealership expansion plan by six months. The company plans to have 20 dealerships in the country in the next 18 months. It has identified Guwahati, Goa and two unspecified locations in the northeast and the south for the upcoming dealerships.

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RBI monitoring NBFCs to prevent systemic shocks

RBI monitoring NBFCs to prevent systemic shocks

Central bank’s watching the top 50 NBFCs much more closely and is making deep dive into their books, their balance sheets and other numbers wherever necessary, says Governor Shaktikanta Das. He said that RBI has a fairly good idea of where the vulnerabilities lie. It is holding periodic discussions with the management and promoters of NBFCs.

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DHFL insolvency process starts, investors' claims sought

DHFL insolvency process starts, investors' claims sought

The move comes ahead of the Supreme Court hears a group of investors who have moved it on the matter, and barely three days after the National Company Law Tribunal's Mumbai bench admitted the RBI's application for initiating insolvency proceedings against the cash-strapped firm, and permitted it to go ahead in the matter.

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Growth a national objective: Shaktikanta Das

Growth a national objective: Shaktikanta Das

Das, while speaking at the postpolicy press conference on Thursday, said at a critical juncture where growth was slacking, it was of paramount importance that monetary policy and fiscal policy work in coordination to achieve the best results in the national endeavour to revive growth. The career bureaucrat entered the RBI headquarters last December.

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India's air passenger traffic grows 3.6% in Oct: IATA

India's air passenger traffic grows 3.6% in Oct: IATA

The International Air Transport Association (IATA), a grouping of more than 280 airlines worldwide, on Thursday said growth in India lags the robust 2018 outcomes. Globally, Revenue Passenger Kilometre (RPK) rose to 3.4 per cent in October compared to the year-ago period. RPK is a measure of demand.

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