Tuesday, December 8, 2015

December 8, 2015 - CarDekho parent firm Girnar Software hires ex-Zomato CFO Umesh Hora as finance head

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
Amongst India's seemingly obstructionist statements and negative position at the recent Paris climate change summit, was lost Prime Minister Modi's laudable initiative 'International Solar Alliance'. Initially suggested by him at the India-Africa Summit last month, the initiative already has 100 countries interested, including 50 which will participate at the official launch. While the agenda is fairly nebulous at this point, the steering committee will deliberate every Wednesday on areas of co-operation, including training, building institutions and promoting common standards for solar energy use. Renewable energy is looking increasingly viable as an option for the common man, as costs drop and grid connectivity improves. Case in point is Uruguay, which has quietly transformed to the point where 95% of its energy needs are now provided by renewable sources. It has also smartly diversified between wind, solar and biomass, all using market mechanisms and good governance - Comment


Digital
CarDekho parent firm Girnar Software hires ex-Zomato CFO Umesh Hora as finance head
Jaipur-based Girnar Software Pvt Ltd, the company behind auto portal CarDekho and BikeDekho, has roped in Zomato’s former finance head Umesh Hora as its chief financial officer (CFO).


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Digital
Music streaming app Saavn appoints former PepsiCo exec Gaurav Wadhwa as VP
Music streaming app Saavn (South Asian Audio Video Network) has appointed Gaurav Wadhwa, former senior marketing consultant at PepsiCo India, as vice president of entertainment and original content.


Digital
Fashion e-tailer Myntra closed $500 million GMV: CEO
Online fashion retailer Myntra closed the second quarter of the financial year with annualized gross merchandise value (GMV) of around $500 million and 66 per cent growth in top line, helped by lower discounts, the CEO of the Flipkart unit said on Monday.


Digital
Pune-based food tech startup Faasos gets $30 million from Ru-Net at a valuation of $130-160 million
Pune-based food tech startup  Faasos gets $30 million from Ru-Net at a valuation of $130-160 million - Iamwire
Faasos Food Services, which owns restaurant chain Faasos, has raised $30 million in funding round led by Russian investment firm ru-Net at …


Digital
Hyderabad-based logistics startup Cargo Exchange in talks to raise $2 million
Hyderabad-based  logistics startup Cargo Exchange in talks to raise $2 million - Iamwire
Hyderabad based logistics service provider, Cargo Exchange is in final talks to raise $2 million from a group of investors whose names have …


Retail
23 Flipkart Internet employees draw more than Rs 1 crore salary annually
23 Flipkart  Internet employees draw more than Rs 1 crore salary annually - Economic Times
Flipkart Internets employee benefit expenses swelled threefold to Rs 476 crore, according to its filing with the Registrar of Companies.

Retail
Ecommerce companies want government to keep aggregators out of GST
Ecommerce  companies want government to keep aggregators out of GST - Economic Times
Indias rapidly expanding ecommerce companies are lobbying the government to keep aggregators that run marketplaces out of the proposed GST net.

Retail
Faasos raises Rs 200 crore in fresh funding at a time of gloom for on-demand food startups
Faasos Food Services has raised $30 million (about Rs 200 crore), managing to secure funds at a time when several of its competitors are forced to sca..

Retail
SelectCity Walk takes on etailers with home delivery service
“Today, we handle 20-25 deliveries without any marketing with a very small team and investment, but we know the number would be quite large once it ..


Telecom
Telcos Set to Ride on 4G Band for the Next Wave of Growth
KOCHI: The mobile revolution in India was swifter than internet penetration, thanks to the entry of global telecos and availability of affordable mobile handset...


Telecom
DoT set to club 4G airwaves in 1800 MHz band for seven circles
DoT set to club 4G airwaves in  1800 MHz band for seven circles - Economic Times
The Department of Telecommunications (DoT) will soon start consolidating airwaves in the 1800 MHz band in seven circles, including Delhi and Kolkata.


Telecom
Mobile app payments: Paytm to MobiKwik, the digital wallet is expanding
Mobile app  payments: Paytm to MobiKwik, the digital wallet is expanding - The Indian Express
As mobile app payments grow in India, with apps like Paytm, MobiKwik, PayUMoney, the digital wallet is expanding in a big way.


Telecom
Gionee P5W announced with 4G, reportedly coming to India
Gionee P5W announced with 4G,  reportedly coming to India - The Mobile Indian
Considering its features, if launched in India, the Gionee P5W would be priced in the low end segment..



Finance
Banks, financial firms game for India Post venture
Banks, financial firms game for  India Post venture - Business Standard
With India's postal department receiving the Reserve Bank's nod to set up non-lending payments banks in August 2015, the UK-based Barclays PLC BCS.


Finance
How you can make short term gains in tax-free bonds
How you can make short term  gains in tax-free bonds - Economic Times
Though tax-free bonds are long duration products, there is no need for ‘short and medium term investors to shy away from them, for there are several trading opportunities here.


Finance
Bulk of StanChart's India business unaffected by bad loans, says William Winters
Bulk of  StanChart's India business unaffected by bad loans, says William Winters - Livemint
Group CEO of Standard Chartered William Winters and regional head Ajay Kanwal on how India is a key market, renewed focus on retail lending and bad loans affecting the banking system


Finance
GST rates: Will India be competitive?
GST rates: Will India be  competitive? - Livemint
Standard tax rate of 17-18% suggested by the Arvind Subramanian panel under proposed GST is lowest when compared with suggestions by various panels




Software
Cybercriminals using fake LinkedIn accounts to scam users: Symantec
Cybercriminals  using fake LinkedIn accounts to scam users: Symantec
Scammers copy information from real LinkedIn profiles to pose as recruiters and attract new connections, it added.


Software
Global PC market woes show no sign of easing
Global PC market woes show no  sign of easing
The market is "expected to stabilize by the end of 2016 and grow slightly" in the following three years, helped by replacement of older machines, IDC said.


Software
Infosys to create 250 new technology jobs in Ireland
Infosys to create 250 new  technology jobs in Ireland
The new roles are in addition to more than 250 employees that are already working for Infosys in Ireland. The new project has been supported by the Department of Jobs through IDA Ireland.



Ecommerce
Ola poaches Flipkart executive Joy Bandekar to join its core leadership team as corporate president to head its new initiatives arm
Prior to Flipkart, Bandekar worked at eBay Inc and had stints with Reliance Industries, Maxworth Orchards and Atcom Technologies

Ecommerce
Messaging-based delivery startup MagicTiger acqui-hires its peer Instano for an undisclosed amount
Messaging-based delivery startup  MagicTiger acqui-hires its peer Instano for an undisclosed amount - MediaNama.com
Messaging-based delivery startup MagicTiger has acquired its peer Instano for an undisclosed amount, reports TechCircle. Instano is a chat-based ecommerce

Ecommerce
Myntra to roll out offline experience zones in the next 12-18 months to provide customers with a touch-and-feel experience of products
Myntra to roll out offline  experience zones in the next 12-18 months to provide customers with a touch-and-feel experience of products - Economic Times
Mobile application only fashion retailer Myntra has tentative plans to roll out offline experience zones in the next 12-18 months, its chief executive Ananth Narayanan said.



HR

HR
Mandating CSR spends akin to taxation: Ratan Tata
Mandating CSR spends akin to  taxation: Ratan Tata - Economic Times
Tata was speaking to reporters on the sidelines of an event to announce tie-up with online education platform Khan Academy.


HR
Need to Enhance Skill Devolopment, Says CM
KOCHI: The activities of ‘Naipunya’ (skill development), aimed at linking skills with labour, have instilled new hope among job-seekers, said Chief Minister Oom...


HR
How the state can foster innovation
How the state can foster  innovation - Livemint
Innovation requires sustained support, and short-term perspective for financial markets is not conducive for the growth of innovation-driven start-ups



Logistics
Indian markets take a fall after GST panel recommends 40% tax
Indian stocks fell for the fourth session on Monday after the value of shares of cigarette marker ITC went down when a panel to review the Central Government’s policy on Goods and Services Tax suggested a 40 per cent tax on tobacco products such as pan masala and tobacco.

 


Logistics
Air India doubles revenue to Rs 213 cr in Fy14/15 from Star Alliance, who brought 150,000 passengers in 2014/15 compared to 66,000 the previous year
Air India doubles revenue to Rs  213 cr in Fy14/15 from Star Alliance, who brought 150,000 passengers in 2014/15 compared to 66,000 the previous year - Livemint
Star allows member-airlines to sell tickets jointly, earn and burn miles, use common infrastructure and coordinate flight schedules to improve passenger feeds


Logistics
Competition Commission of India imposes penalties on three major airlines for cartelisation on fixing fuel charges; Jet, Indigo and Spice face and Rs 151, 63 and 42 cr respectively
Competition Commission of India  imposes penalties on three major airlines for cartelisation on fixing fuel charges; Jet, Indigo and Spice face and Rs 151, 63 and 42 cr respectively -  Lexology (registration)
The Competition Commission of India (“CCI”) by its recent (“Order”), levied penalties of `1,516,900,000 (Indian Rupees One billion five hundred…


Logistics
Delhi's move to reduce air pollution by allowing either odd or even numbered cars to ply on alternate days is good but public transport must improve:Beijingers
Delhi's move to reduce air  pollution by allowing either odd or even numbered cars to ply on alternate days is good but public transport must improve:Beijingers - Niticentral
"Half of the cars (in Delhi) will not be on roads. The Delhi transport system capacity is not capable of ferrying so many people," Congress member Pramod Tiwari said.



Construction
Overhang of equity dilution stays for GMR Infra
Overhang of equity dilution  stays for GMR Infra - Livemint
After the deal with Kuwait Investment Authority, concerns are that there would be another dilution following the FCCB conversion at Rs18 per share


Construction
GST looks a step closer to reality; experts bullish
GST looks a step closer to  reality; experts bullish - ET Realty
According to official estimates, GST implementation can bring in positive effect of 1.0-1.5% in GDP, depending on the GST rate


Construction
Should you buy or rent a house?
Should you buy or rent a house?  - ET Realty
The Urgency-to-Buy ratio indicates the extra payment one has to make every month in order to buy a property instead of renting it


Construction
Smart city: Rs 8,000 crore proposal for Bhopal gets final touches
Smart city: Rs 8,000 crore  proposal for Bhopal gets final touches - ET Realty
After incorporating suggestions on financial model, the proposal would once again be reviewed on Monday



Marketing
Amagi expands TV ad network to international markets : Report
Amagi expands TV  ad network to international markets : Report - Indiantelevision.com
Indian advertisers can reach more than 200 million viewers worldwide on B4U Network and Zee Bangla across to US, Europe, Asia, GCC, Canada, Africa and Australia.   MUMBAI: Amagi has expanded its India ad network to key international markets like North America, Canada, Africa, Australia and Asia. Amagi will now offer an advertising platform to Indian advertisers with B4U Network and Zee Bangla in these international markets. The company’s move will now enable Indian advertisers to reach more than 200 million viewers on these channels.   | Amagi expands TV ad network to international markets | Indian Television Dot Com


Marketing
Islands of hope in the sexist world of startup advertising : Report
Islands of hope  in the sexist world of startup advertising : Report - Quartz
Two startups have finally shown how to move beyond sexist clichés and capture the pulse of modern, young India.


Marketing
Facebook to partner telcos, OEMs for customized advertising : Report
Facebook to  partner telcos, OEMs for customized advertising : Report - Times of India
Facebook to team up with Bharti Airtel, Vodafone, and mobile phone manufacturers like Micromax Informatics and Samsung to offer them customized advertising.


Marketing


Politics
Lessons from PM Modi’s Pakistan diplomacy menu: Serve it cold, keep it bland and bar media from the table
Lessons from PM Modi’s Pakistan diplomacy  menu: Serve it cold, keep it bland and bar media from the table
Kudos to the Modi government for taking diplomacy back to shadowy, discreet chambers, and away from media spotlights and studios.


Politics
Parrikar wanted OROP but was pressurised by corrupt people in Cabinet, says Ram Jethmalani
Parrikar wanted OROP but was pressurised by  corrupt people in Cabinet, says Ram Jethmalani
Defence Minister Manohar Parrikar was in favour of granting 'One Rank, One Pension' (OROP) to ex-servicemen but pressure was exerted on him by his cabinet colleagues on the issue, legal luminary Ram Jethmalani on Monday claimed even as he launched a scathing attack on Prime Minister Narendra Modi.


Politics
‘Judiciary should be made accountable’: Lok Sabha MPs disapprove of SC’s decision to scrap NJAC Act
‘Judiciary should be made accountable’:  Lok Sabha MPs disapprove of SC’s decision to scrap NJAC Act
Members of the Lok Sabha on Monday came out strongly against the scrapping of the National Judicial Appointments Commission (NJAC) Act by the Supreme Court and pitched for accountability of judges.


Politics
It’s a deal: Congress, NCP join hands for Maharashtra Legislative Council polls
It’s a deal: Congress, NCP join hands for Maharashtra  Legislative Council polls
The Nationalist Congress Party will contest the forthcoming Maharashtra Legislative Council polls in alliance with the Congress, a senior party leader said on Monday.



Sports
Ind vs SA, 4th Test, Stats: India register biggest Test win
Ind vs SA, 4th Test, Stats: India register biggest Test win
India eclipsed the 320-run win over Australia under Mahendra Singh Dhoni's leadership at Mohali in 2008-09.


Sports
Virat Kohli, Ajinkya Rahane, Ravi Ashwin dedicate series win to people of Chennai
Virat Kohli, Ajinkya Rahane, Ravi Ashwin dedicate  series win to people of Chennai
Ajinkya Rahane among other Indian cricket team stars remembered Chennai victims after the match.


Sports
I’m unbeaten and intend to stay that way: Vijender Singh on his next bout
I’m unbeaten and intend to stay that way: Vijender  Singh on his next bout
Vijender Singh sailed through his first two professional opponents, beating Sonny Whiting and Dean Gillen.


Sports
Ajinkya Rahane is probably one of the most important player in our middle order: Virat Kohli
Ajinkya Rahane is probably one of the most important  player in our middle order: Virat Kohli
Virat Kohli shared a 154-run stand with Ajinkya Rahane and said batting with him was more satisfying than his own knock.



Entertainment
Rohit Shetty reveals all the action behind the scenes of Shah Rukh Khan’s ‘Dilwale’
Rohit Shetty reveals all the action behind the scenes of  Shah Rukh Khan’s ‘Dilwale’
In a video titled, 'Heart behind Action', Rohit Shetty talks about the hard work and commitment that goes behind filming action scenes.


Entertainment
Confirmed! Deepika Padukone will work with Vin Diesel in the new XXX film
Confirmed! Deepika Padukone will work with Vin Diesel in  the new XXX film
Deepika Padukone's "Piku" co-star Irrfan Khan confirmed the news of the actress signing 'XXX' opposite Vin Diesel by congratulating the her.


Entertainment
Never made remarks against Tamil Nadu government: Kamal Haasan
Never made remarks against Tamil Nadu government: Kamal  Haasan
Kamal Haasan denied making any remarks against the Tamil Nadu government with regards to the flood relief activities in the state.


Entertainment
Anoushka Shankar, Asif Kapadia earn Grammy nominations
Anoushka Shankar, Asif Kapadia earn Grammy nominations
Sitarist Anoushka Shankar and 'Amy' director Asif Kapadia are among the Indian origin names featuring in the nominees list at the 58th Grammy awards.




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