Jul 29, 2016 - Banks sell less number of stressed assets, see silver lining in economy

View online   Advertise              Unsubscribe from TradeBriefs Business Daily

Sree Vijaykumar From the Editor's Desk This fascinating piece titled 'How Jerry Yang killed Yahoo, by Saving it', discusses how ironically, the Yahoo sale became an inevitability not in spite of Yang's amazing Alibaba heist, but because of it. Here's Bloomberg View's Matt Levine's comments on it. ".. what is much more shameful is that the whole point of Yahoo as a company right now is to not pay taxes on Alibaba. I realize that seems a bit hyperbolic, but just look at those numbers. Those Alibaba taxes are worth at least two and a half times the value of Yahoo's entire business. If there was a way to avoid paying taxes on the Alibaba shares that involved burning all of Yahoo's actual businesses to the ground, Yahoo should do that all day long, and then do it again the next day. It would still add shareholder value". Read the full article here. Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails. Banks sell less number of stressed assets, see silver lining in economy Given the rising economic activity, banks believe the price at which ARCs were willing to buy those stressed assets may not be worth selling. DHFL to raise Rs 4,000 crore from bonds linked to inflation The core issue size is at Rs 1,000 crore while the company will retail oversubscriptions up to Rs 3,000 crore, totalling Rs 4,000 crore. Finance Ministry warns tax officials on resolution against revenue dept The government has made it clear to all field functionaries that no such unfair means will be used for jacking up achievement, the official said. Punjab National Bank: the devil is in the details The road to recovery for Punjab National Bank is a long one because maintaining this pace of recovery and upgrades would be a key challenge going ahead Entrepreneurship can’t be outsourced Rocket Internet’s Jabong sale shows that you can’t buy entrepreneurship, and if you are attempting to, make sure that it’s aligned well New funds look to raise $2 billion by leveraging 'emerging India' About two dozen private equity sector executives who have launched new funds are looking to capitalize on rising investor interest o3 Capital is raising a $150 million fund focused on hospitality The investment banking firm will target assets nearing completion that need last-mile funding to become operational After Max Life merger deal, Axis Bank ties up with LIC Axis Bank has signed an agreement with Life Insurance Corporation to distribute policies of the country’s largest life insurer. Oracle to buy NetSuite for $9.3 billion to gain cloud computing clout The deal will quicken Oracle’s move towards a cloud computing model even as software licensing business struggles Jet Airways to raise $185 million loan from West Asian banks Jet Airways is in discussions with Dubai-based Mashreqbank PSC for raising the money in collaboration with other leading banks in West Asia such as Abu Dhabi Commercial Bank and First Bank Foreign capital flow into emerging market climbs to $25 billion Inflows were dominated by EM (emerging market)Asia, followed by Latin America, while EM Europe and Africa, Middle East saw modest outflows. NBFCs cashing in on unmet demand by banks: Morgan Stanley According to the financial services major, though private sector banks are leading the charge in retail sector, non-banking finance companies (NBFCs) are quite close on their heels. SoftBank’s tab for Nikesh Arora’s 2-year tenure at $300 million SoftBank booked 6.8 billion yen in expenses arising from Nikesh Arora’s resignation, on top of 24.6 billion yen he received in compensation over his tenure Modasta raises $1.5 million from Mauritius-based HNIs Modasta will use the funds for business growth, upgrading technology, talent acquisition and marketing outreach activities Why are PE funds interested in Indian labour rooms? More than `600 crore has been deployed in Indian maternity clinics in the last eight months by private equity investors Excited about hyper-local business, says Amazon Amazon India today said it is excited about the hyper-local e-commerce segment and hinted at expanding its 'Amazon Now' service beyond Bengaluru despite existing players facing multiple challenges. Competition Commission dismisses complaint against e-retailers Rejecting the complaint, Competition Commission of India also said it appears allegations are regarding abuse of collective/ group dominance. E-commerce troubles: CXO salaries lose steam Many who got swept up during the boom of 2014 and 2015 are getting back to lower-paying but stable jobs at half their previous salaries in some instances. No plans to shut jewellery business: Reliance Retail Mukesh Ambani-led Reliance Retail may soon exit its jewellery business in the face of stiff competition from regional players. The company operates a chain of jewellery stores under Reliance Jewels brand with more than 50 outlets under its belt. E-commerce to help add 12 million jobs in next 10 years: Pranjul Bhandari, Chief India Economist, HSBC We are actually just seven years behind where China has been in terms of ecommerce and we are at a point from where China really took off very rapidly FIPB nod for Tommy's e-tail biz, own stores American fashion apparel major Tommy Hilfiger received Foreign Investment Promotion Board (FIPB) approval to run own stores and start e-commerce in India. The approval, granted earlier this week, came nearly four years after its Indian arm, Tommy Hilfiger Arvind Fashion, first moved the application, said a source directly familiar with the matter. French luxury label Longchamp plans to open six stores in India Longchamp owns more than 300 exclusive stores globally and retails from another 1,500 points of sale and has a workforce of around 3,000. PC Jeweller raising $38mn from Fidelity Delhi-based jewellery retailer PC Jeweller Ltd is raising Rs 257 crore($38.2 million) from US-based investment firm Fidelity to support its expansion through small sized and franchised stores. The firm said on Wednesday that its board has approved the preferential allotment of compulsorily convertible preference shares to several investment entities under Fidelity. It did not share further details. But based on last traded price of PC Jeweller a day ahead of the announcement, Fidelity run funds would pick around 3% stake, as per VCCircle estimates. Reliance Jio set to rev up 4G in India Bharti Airtel is “very concerned” about slowing data revenues and feels only a sharp reduction in smartphone prices to the sub-Rs 1,000 level can .. United Arab Emirates can now fine you for using a VPN Better think twice before firing up your favorite virtual private network in the United Arab Emirates, you could be fined up to $545,000 USD. Does India Need a Telecom Ombudsman? Trai Wants Your Opinion Aiming to address customer grievances at a faster pace, the telecom regulator on Thursday issued a consultation paper where it sought opinions from stakeholders on whether setting up an ombudsman will help in the redressal mechanism. India's digital transformation and the role of Mobile Commerce in it Digitalisation has slowly replaced other means of communication, with the advent of Facebook and other social networking websites. You get to cover a large base in a lesser time. iPhone market prices in India may go up from August 1: Report Earlier in April, Apple allegedly asked retailers to increase the prices of older iPhones by up to 29 per cent because possible older iPhones were harming iPhone SE sales. It seems Apple is going to do it again as iPhone 7 is going to launch Your voice new key to phone banking A new measure introduced by some private banks makes the process of authentication adopted for phone banking much easier for users. In what will come as a major relief for users who frequently use phone banking, banks have now introduced a voice recognition Call drop a black spot in Indian telecom story: Telecom Minister New Delhi, July 27 (IANS) The telecom story in India, generally speaking, has been a "success story" the vexed issue of "call drop" has hit it like a black spot, new Telecom Minister Manoj Sinha told parliament on Wednesday Flipkart laying off underperforming staff The move, is reflective of the times for the online retail industry, which is attempting to find a balance between saving costs and chasing growth. Semi-branded is big sell LatestOne.com takes a look at the branded vs grey mobile accessories market in India Our daily transacting users exceed Flipkart, Amazon put together: Snapdeal The co, claims to have grown 1.9x in shipment volumes in just the last 1 year and has set a target of achieving 20 mn daily transacting users by 2020. Big dreams for Big Basket: Aiming to double turnover to Rs 1200 cr in 2016 "Grocery is not an easy category to work with. Delivering perishable items, managing same-day delivery targets for a wide range of products and providing uninterrupted inventory supply becomes the key to building the right kind of customer satisfaction in this business." Amazon expands office footprint Leases spaces in Gurgaon and Hyderabad, in line with its India investment plans Flashback: All that happened in Indian fashion e-commerce space in past year The fashion e-tailing market in India has boomed over the past year, as new e-commerce companies enter and existing ones sharpen their focus more on a segment Flipkart CEO Binny Bansal writes letter to employees on Jabong acquisition "The acquisition of Jabong further strengthens Flipkart Group's position as the undisputed leader in Fashion and Lifestyle segment in India," wrote Bansal. Smartphone sales slowed down in June quarter, says report The Indian smartphone market grew 15% year on year in the quarter ended June, sharply lower from the 23% growth seen in the previous quarter. Bharti Airtel worried about sluggish growth in data revenue The key objectives for Airtel for now will be boosting data penetration and accelerating data revenues without worrying too much about realisations. Technology loaded tablets changing students perceptions about 'tough' mathematics For the first time tablets have come in handy to the rural students of border belt in solving math puzzles along with learning by fun using internet and technology in classrooms after a border area's school Great India Presidency School (GIPS) introduced learning app tablets from class 1st to 6th students. Cognizant acquires Idea Couture for an undisclosed amount Cognizant Digital Works combines human insight, strategy, design, technology and industry expertise to create innovative solutions at enterprise scale. Yahoo launches a redesigned Yahoo Messenger for desktop yahoo: By Austin Shoemaker, Senior Director, Product Management Since we launched the new Yahoo Messenger at the end of last year, you’ve enjoyed an energized messaging experience built around groups. Our new platform provides you with a fast and easy way to send (and unsend) not only messages, but also photos and animated GIFs. Today, we’re delighted to announce that you can enjoy all of these features you’ve grown to know and love in our brand-new Yahoo Messenger desktop app for Windows and Mac. Want to share photos from your latest vacation or simply spice up a message? Save precious time with our drag and drop feature to share multiple photos at once. Then, spread the love by “liking” any posts or images that stand out to you. If you’d rather reply with a GIF, you can easily search and send GIFs to your heart’s content. Pro tip: play GIF roulette and type /gif + any search term. With Messenger’s desktop notifications, you can multitask at your computer without having to worry about missing an important message from family, friends, or coworkers again. We are also introducing the unsend button – one of our most beloved Messenger features now on desktop. Sent that message too soon or caught a last-minute typo? Now you can take back a message, photo or GIF (yes, even after you’ve pressed send)! You can find out more about this exciting feature here. The Yahoo Messenger desktop app is available for download today on Windows and Mac! Friendly reminder: If you’re using the old version of the Yahoo Messenger desktop app, don’t forget to update it by August 5 as the legacy Yahoo Messenger app will no longer function as we move forward! And if you have any questions while you’re transitioning to our new platform, simply head over to our help page.  TradeBriefs Publications are read by over 10,00,000 Industry Executives India Business Brief | India Retail News | India Food Brief | India Telecom Brief | India Finance Brief | India Software Brief | India Digital Brief | India Ecommerce Brief | India Franchise Brief | India HR Brief | India Logistics Brief | India Construction Brief About Us  |  Advertise Privacy Policy    Unsubscribe You are receiving this mail because of your subscription with TradeBriefs. Our mailing address is GF 25/39, West Patel Nagar, New Delhi 110008, India

Jul 28, 2016 - HDFC, Axis Bank and other private banks' unsecured retail lending portfolio rising

View online   Advertise              Unsubscribe from TradeBriefs Business Daily

Sree Vijaykumar From the Editor's Desk IoT is a term that has been misused and misunderstood as many times as 'cloud computing' or now 'AI'. This Economist article takes a quick look at the current state of IoT and how China stands to benefit. GE has just announced a 'digital foundry' in Shanghai. Siemens, HP, Honeywell, Cisco are all rushing in. Local Chinese companies are not far behind. China, as the manufacturing capital of the world, is well poised to take advantage of IoT to make its factories more efficient. Sensors (which are already made in China) combined with software, can ensure that billions of machines are better utilized. Industrial IoT, with relatively fewer variables, is likely to progress faster than the consumer version of it (eg: your refrigerator contacting the supermarket to restock itself). Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails. HDFC, Axis Bank and other private banks' unsecured retail lending portfolio rising Personal and credit card business comprised 5 per cent of HDFC banks total retail book which stood at over Rs 3.2 lakh crore. Blackstone and 2 others selected to sell DLF's stake in office rental arm Last October, DLF, one of Indias largest real estate developer, had said that its promoters led by KP Singh and family would sell their 40 per cent stake. PSU employees may be able to buy more shares of their company NTPC employees bid for more than 85 per cent of the over 2 crore shares offered to them at a 5 per cent discount to the price at which the government sold. SBI to refinance new entity’s Rs 28,000cr debt in the RCOM-Aircel merger RCom will separate its wireless business and merge it with the existing unlisted Aircel, with promoters of both sides owning 50% each in the combined entity. Government raises foreign shareholding cap in stock exchanges to 15% The cabinet also moves to cut red tape around PSU defence firms forming joint ventures with private ones Chatterjee Group to acquire 90% stake in Mitsubishi Chemical’s India unit Mitsubishi Chemical says it was scaling back investments in commodity chemicals such as PTA, a precursor to polyester, to focus on other businesses Sebi may let investors buy mutual funds with digital wallets Sebi in talks with RBI to frame regulations allowing such transactions, in an effort to expand access to such investment products Should RBI issue a new digital Bharatcoin? RBI should strive to be at the cutting edge of thinking on digital currencies GST bill: Cabinet clears key amendments to push reform through Parliament 1% additional levy on supply of goods scrapped, full compensation proposed to states for five years for revenue loss; changes pave way for tabling of bill in Rajya Sabha RBI slaps Rs 27-crore penalty on 13 banks for FEMA violations UCO Bank in a BSE filing said that RBI has "imposed a penalty" of Rs 2 crore on the Bank on account of "few lapses in adherence to KYC/AML guidelines". SBI kick-starts merger operations, appoints external parties Public share holdings in SBBJ, SBT and SBM are in the range of 10-25%, while the parent bank fully owns the State Bank of Hyderabad and State Bank of Patiala. Edutech start-up Byndr raises $700,000 in seed funding Byndr will use this money to expand its sales and development teams and build on the product to give more access to educational content for students Aadhar Housing Finance to raise Rs 200 crore from banks Aadhar Housing, a Dewan Housing Group company, aims to disburse Rs 2,100 crore this fiscal, more than double of last year's disbursal of Rs 1010 crore. How can India bridge the gap between its middle and median class? Middle class income levels are still a luxury for majority of India’s population Shinzo Abe’s plan for $265 bn in stimulus puts pressure on BoJ to ease Shinzo Abe’s announcement pressures the Bank of Japan to match his big spending plan with additional monetary easing at its rate review ending on Friday Sahara rejects $1.3 billion offer for three overseas hotels Sahara group rejects offer from a group of investors for its three overseas hotels, terms it as a ‘devious attempt’ to lower the price PSU banks’ share of market cap much lower than their share of business The market cap of public sector banks which stood at 56.72% of total industry market cap in 2008-09 nearly halved to 29.02% in 2015-16 Canara Bank gets shareholders nod to raise up to Rs 2,000 crore In a filing, Canara Bank said RBI has imposed a penalty of Rs 2 crore on it for violation of anti-money laundering norms. Mezi raises $9 million from Nexus Venture, Saama Capital, others The investment will be used to support the company’s growth and accelerate Mezi’s product and artificial intelligence technology development RBI’s forex war chest gears up for uncertainty RBI parked 5.8% of its forex reserves in commercial bank deposits as of March 2016, data shows Deutsche Boerse shareholders back London Stock Exchange merger Frankfurt, July 26, 2016 (AFP) -The Frankfurt stock exchange Deutsche Boerse on Tuesday said its shareholders had backed a planned merger with the London Stock Exchange (LSE) to create a new global player. Goldman sued over 1MDB links in Malaysian bank merger Goldman Sachs Group Inc was sued on Tuesday by a major shareholder of a Malaysian bank it once advised, and which accused the Wall Street bank of fraudulently shortchanging it in a merger to curry favor with that country's prime minister. New banking entrants to help improve credit culture: RBI Mumbai, Jul 26 () Reserve Bank's newly appointed deputy governor N S Vishwanathan today said the entry of new players in banking space should improve the credit culture. "Competition is very important... We have licenced 11 payments banks, 10 small finance banks. DBS Bank eyes Indian SME sector Hopes to increase its SME customer base by 30-40% in the current year French luxury label Longchamp plans to open six stores in India Longchamp owns more than 300 exclusive stores globally and retails from another 1,500 points of sale and has a workforce of around 3,000. Real, Slice push fizzy drinks Coca-Cola and Pepsi out of top 5 beverage brands in modern trade Healthier drinks are growing much faster than the aerated drinks segment that continue to post mid-single-digit growth of 4-6 per cent. Post GST, logistics business will improve: Abhik Mitra of Spoton “Logistics business will change quite dramatically following GST,” Abhik Mitra, Ma Bonita targets Rs 100 cr turnover; to open 25 exclusive stores: JMD Umang Srivastava Home Utility product maker Bonita India has made its strong foothold in India as well as abroad with its presence over 25 countries including USA and UK. In his interaction with Akash Sinha, Bonita India’s JMD Umang Srivastava talks about company’s revenue to future plans. Excerpts: Apple to open retail stores in India soon: CEO Tim Cook The remarks assume significance since Apple was studying the changes in norms for single brand retailers announced last month to set up stores in the country. Is India ready for a branded player in the $40 billion religion market? Now, startups provide services ranging from arranging a puja and pandit, besides offering consultations in astrology, numerology, and Vastu. US-based mutual fund hikes Flipkart valuation Several of Flipkart’s other investors such as Morgan Stanley, Valic Co I, T Rowe Price and Vanguard have reduced the e-tailer’s valuation over the last six-to-seven months. CXO salaries lose steam after 2 years of ecommerce-fuelled boom, pay for new hire also slips Many who got swept up during the boom of 2014 and 2015 are getting back to lower-paying but stable jobs at half their previous salaries in some instances. SpiceJet sets up unit for consumer merchandise business No-frills airline SpiceJet today said it has incorporated a subsidiary that will focus on consumer merchandise and goods business. Flipkart buying Jabong shows that fashion e-retail in India is a bloodbath full of opportunity Garment portals are growing quickly, but many are still making losses. ShopFilo.com launches lightest mobile app for enhanced shopping experience India's first virtualized supermarket store on internet ShopFilo.com announced launch of its new light-weight mobile app to bring on-board the mobile internet users, who are located in low connectivity zone or are still using 2G Amazon ahead of Flipkart in retail app downloads in India Amazon Prime is available in India, but what does it mean for Flipkart First Subscription? We compare the two services. Ananth Narayanan Replaces Sanjeev Mohanty as the New CEO of Jabong In a letter which is address to employees, Sanjeev Mohanty told all the employees that they should remember this day as this as the " birthing of a giant"., , jabong, myntra, flipkart, Jabong's acquisition TradeBriefs Publications are read by over 10,00,000 Industry Executives India Business Brief | India Retail News | India Food Brief | India Telecom Brief | India Finance Brief | India Software Brief | India Digital Brief | India Ecommerce Brief | India Franchise Brief | India HR Brief | India Logistics Brief | India Construction Brief About Us  |  Advertise Privacy Policy    Unsubscribe You are receiving this mail because of your subscription with TradeBriefs. Our mailing address is GF 25/39, West Patel Nagar, New Delhi 110008, India