editor - The Purbottar

27 Feb

Australian Resources Delegation explores opportunities in Eastern India

editor0 CommentsBusiness

A 16 member Australian Resources delegation is currently in Kolkata as a part of Australia-India Business Exchange 2020 (AIB-X). The delegation is exploring collaboration opportunities with the Indian mining industry in Eastern India. Panel Discussion on India’s Mining Industry Coinciding with the visit of the Australian Resources delegation, a panel discussion titled “India’s mining industry – Targets, Reforms and Roadmaps” was organised in Kolkata today by the Australian Trade and Investment Commission (Austrade), Australian Government. The panel included business leaders from Indian industry associations, steel majors and other infrastructure experts, discussed the current scenario of the mining industry, national production…

26 Feb

Samsung launches New 2020 Air Conditioners (West Bengal)

editorNorth East

Samsung, India’s largest and most trusted consumer electronics and smartphones brand, today launched its new 2020 air conditioners line-up in West Bengal, introducing models across segments and at very competitive price points, thereby becoming a full range player in the AC category. With this new line-up Samsung is aiming to double its AC business in West Bengal. The new line-up of 41 models, aesthetically designed and priced to suit every home, comes with attractive floral patterns and premium strip design. Samsung has also expanded its copper condenser range to 32 models to match customer demand across the country, in each…

25 Feb

Facebook Invests In Indian Education Startup Unacademy

editor0 CommentsNorth East

Social media giant Facebook on Wednesday joined General Atlantic, Sequoia India and others for a fresh $110 million round of funding into one of India's fastest growing education technology start-up Unacademy.This is the second investment by the social networking giant in India. Last year, Facebook made its first minority investment in a local startup called Meesho, a social-commerce venture empowering first-time entrepreneurs, especially women in small towns."We thank General Atlantic and Facebook who have joined us in this journey and our existing investors who continue to be a part of the journey by supporting us. Our goal is to democratise…

25 Feb

Increase In Public Float To 35% May See Action Next Fiscal

editor0 CommentsNorth East

With the 2019-20 fiscal coming to an end soon, the Budget proposal to consider raising the public float in listed companies to 35 per cent may see some action in the next financial year, officials said on Tuesday.It needs examination of impacts and trends, and also seek stakeholders' views that takes time, they said, adding that there could be action on this front in the next fiscal.Market regulator SEBI has to submit a report to the Finance Ministry on the current Budget proposal to consider raising the current threshold of 25 per cent to 35 per cent.

25 Feb

Rupee Settles 13 Paise Higher At 71.85 On Easing Crude Prices, Weak Dollar

editor0 CommentsNorth East

The rupee recovered 13 paise to close at 71.85 against the US dollar on Tuesday, provisional market data suggests, amid easing crude oil prices and weakening of the dollar in overseas market.Forex traders said that weak dollar and easing crude oil prices supported the rupee, but losses in domestic stocks and foreign fund outflows weighed on the domestic currency and limited its upmove.At the interbank foreign exchange market, the rupee had opened on a positive note at 71.84, and touched a high of 71.78 and low of 71.90 during the day.The rupee cut short its three-day losing run, with today's…

24 Feb

Mukesh Ambani’s Big Revamp Of TV Business Before Potential Stake Sale

editor0 CommentsBusiness

Reliance Industries Ltd., controlled by Indian billionaire Mukesh Ambani, is merging its media and distribution businesses spread across multiple entities into Network18 Media & Investments Ltd. to help simplify the structure of the assets.The broadcasting business, TV18 Broadcast Ltd., will be housed in Network18, while the cable and internet services will be folded under two separate wholly owned units of Network18, Reliance Industries said in a statement late Monday.Under the recast, the share exchange ratio would be:92 shares of Network18 for every 100 shares of TV1878 shares of Network18 for every 100 shares of Hathway Cable & Datacom Ltd.191 shares…

24 Feb

Pay Hikes In India To Fall To Decade Low In 2020

editor0 CommentsBusiness

A new survey report on Tuesday said that India will see the lowest salary increase in a decade this year and even the real estate and transport sector -- the top national job generators -- will witness lowest pay hikes in 2020.The sharpest drop in pay hikes was projected in the auto sector, reflecting its stress; e-commerce sector was seen giving a double-digit pay hike -- among the highest across 20 sectors -- surveyed by on Plc, a human resource consultancy firm ."The vehicle manufacturing industry reported the biggest drop, from 10.1 per cent in 2018 to 8.3 per cent…

24 Feb

Sensex, Nifty End At Two-Week Lows; Telecom Stocks Plunge

editor0 CommentsBusiness

The S&P BSE Sensex and NSE Nifty 50 indexes fell for fourth day in a row to close at lowest level in two weeks on Tuesday weighed down by weakness in HDFC, Reliance Industries, Bharti Airtel, IndusInd Bank and Maruti Suzuki. Telecom shares were among the worst hit in trade a day after telecom firms Bharti Airtel and Vodafone Idea partly paid the adjusted gross revenue dues as directed by the Supreme Court. The Sensex fell as much as 445 points to hit an intraday low of 40,610.95 and the NSE Nifty 50 index broke its psychological important level of…

24 Feb

Lonely Planet: Bhutan the best country to visit in 2020

editor0 CommentsEntertainment, Lifestyle, Sikkim, Travel

THIMPHU: Bhutan is named the best country to visit in 2020, above England and North Macedonia, in the Lonely Planet’s travel guide book, “Best in Travel 2020.” Lonely Planet is an international travel guide book publisher. Best in Travel is Lonely Planet’s annual publication highlighting the top 10 countries, cities, regions and best value destinations. The country’s low impact tourism policy, its rich culture and tradition, and sustainable practices are the reasons why Bhutan hit the publisher’s top list. When it comes to sustainability, being the first carbon-negative country in the world, the country leads the pack, according to Lonely…

22 Feb

After Amazon, Walmart’s Flipkart Challenges Antitrust Probe

editor0 CommentsNorth East

Walmart's Flipkart has filed a legal challenge against an antitrust investigation ordered against the company in India, a court filing seen by Reuters showed, following a similar petition by its rival Amazon.com Inc.The Competition Commission of India (CCI) in January ordered a probe into alleged violations of competition law and certain discounting practices by the two e-commerce giants, but a state court put the investigation on hold last week following a challenge by Amazon.Flipkart's legal filing was aimed at signalling the company is aggrieved by the CCI's probe order, a person familiar with the matter said.