Wednesday, June 1, 2016

June 1, 2016 - Govt rejects Apple's plea for exemption from local sourcing; seeks more info from LeEco

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
Ok, so 2 stories for today. Entrepreneurs live in their businesses so much that it often leads to identity crises, especially when things go bad. This article examines this issue with some examples. Founders are advised to read it for empathy. The second story is about how boards with women are less likely to try to buy other companies, and when they do, the deals are smaller. And this is a good thing! Full story here.


Retail
Govt rejects Apple's plea for exemption from local sourcing; seeks more info from LeEco
Govt rejects Apple's plea  for exemption from local sourcing; seeks more info from LeEco - Economic Times
This lack of a clear definition has the government concerned about the element of discretion being used by officials in deciding which company qualifies as ‘cutting-edge.

Retail
Xiaomi doesn't want waiver of norms for retail outlets; its Make in India to involve 30% local sourcing
Xiaomi doesn't want waiver  of norms for retail outlets; its Make in India to involve 30% local sourcing - Financial Express
Chinese smartphone maker Xiaomi, which had earlier sought an exemption from the mandatory 30% local sourcing norms to set up its own retail outlets in India, has now said it doesn’t need the waiver any more, department of industrial policy and promotion (DIPP) secretary Ramesh Abhishek said on Monday.

Retail
India's e-commerce start-ups are setting a dangerous precedent
India’s hottest new companies are busy losing money by the fistfuls, even as they continue to grow

Retail
Blueair announces leadership changes for West and South Asia
Blueair announces leadership  changes for West and South Asia - Economic Times
Blueair has announced a new structure and leadership for the west and south Asia region, encompassing India, Bangladesh, Sri Lanka and the Middle East by appointing Girish Bapat as the region's sales director.

Retail
Flipkart introduces India's first 'No Cost EMI' option for online buyers
Flipkart introduces India's  first 'No Cost EMI' option for online buyers - The Tech Portal
The Tech Portal
Flipkart introduces India's first 'No Cost EMI' option for online buyersThe Tech PortalIn a bid to better the overall customer experience on its platform. Flipkart has today introduced a simple and easy financing option for its online buyers -- 'No Cost EMI'. Under this option, customers can buy high-cost products on Flipkart through EMI ... articles 

Retail
Apple plant in India to benefit retail sector: Google official Nitin Bawankule
Apple plant in  India to benefit retail sector: Google official Nitin Bawankule - Economic Times
"Now, whether it will impact online or offline it doesn't matter, I think, but if Apple decides to set up one such plant, it's great for the industry," he said.

Sports
Saina Nehwal enters Rd 2, Manu Attri-Ashwini Ponnappa duo loses in Indonesia Open
Saina Nehwal enters Rd 2, Manu Attri-Ashwini Ponnappa duo  loses in Indonesia Open
Manu Attri and Ashwini Ponnappa lost 14-21 25-27 to Terry Hee and Wei Han Tan in a 30-minute match.


Sports
Euro 2016 squads: All the final squads for summer’s tournament
Euro 2016 squads: All the final squads for summer’s  tournament
Euro 2016 squads: Final rosters for all 24-teams for the four week extravaganza in France that commences on June 10.


Sports
After winning Ironman title 13 times, Dr Kaustubh Radkar is the fastest at Comrades Marathon
After winning Ironman title 13 times, Dr Kaustubh Radkar is the  fastest at Comrades Marathon
The Comrades Marathon is the world's largest and oldest race, and run annually in the KwaZulu-Natal province of South Africa.


Sports
Rio Olympics: Ravinder Khatri qualifies for Greco-Roman wrestling
Rio Olympics: Ravinder Khatri qualifies for Greco-Roman  wrestling
Ravinder Khatri won eight bouts and lost two to qualify for the Rio Olympics.



Entertainment
Pope Francis honours George Clooney, Richard Gere, Salma Hayek
Pope Francis honours George Clooney, Richard Gere, Salma  Hayek
Pope Francis honoured Richard Gere, George Clooney and Salma Hayek with the Olive Medal of Peace in an event to promote the Scholas Occurrentes foundation.


Entertainment
Amitabh Bachchan, Anupam Kher mourn producer Vikas Mohan’s death
Amitabh Bachchan, Anupam Kher mourn producer Vikas  Mohan’s death
Amitabh Bachchan, Karan Johar and Satish Kaushik on Tuesday mourned the death of producer and trade analyst Vikas Mohan.


Entertainment
Udta Punjab’s story is told through music: Amit Trivedi
Udta Punjab’s story is told through music: Amit Trivedi
Amit Trivedi says the dark and trippy music of Udta Punjab is the character extension of its lead Shahid Kapoor.


Entertainment
A R Rahman to get top Japanese culture prize
A R Rahman to get top Japanese culture prize
Music maestro A R Rahman has been announced as the recipient of Grand Fukuoka Prize 2016.



Politics
Madhya Pradesh Government Wants Transferred IAS Officer To Explain 'Anti-Modi' Post On Facebook
Madhya Pradesh Government Wants Transferred IAS Officer To  Explain 'Anti-Modi' Post On Facebook
Days after IAS officer Ajay Singh Gangwar was transferred, following a Facebook post in which he praised Jawaharlal Nehru, the Madhya Pradesh government has sought an explanation from him over his com


Politics
Dadri Lynching: Meat Sample Belongs To Cow Or Its Progeny, Says Forensic Report
Dadri Lynching: Meat Sample Belongs To Cow Or Its Progeny,  Says Forensic Report
NEW DELHI -- Eight months after a Muslim man was lynched by a mob alleging that he had slaughtered a calf, and six months after the preliminary report said that the sample of meat recovered from his h


Politics
India Tops Global Slavery Index With 18.35 Million People Enslaved
India Tops Global Slavery Index With 18.35 Million  People Enslaved
India has the dubious distinction of having the highest number of people in the world trapped in modern slavery with 18.35 million victims of forced labour, ranging from prostitution and begging, acco


Politics
It's Up To Us All to End Child Labour
It's Up To Us All to End Child Labour
A young boy named Kalu, who had been rescued from a carpet-weaving unit in Bihar, once raised a compelling and very significant question when he met then-President Bill Clinton. In conversation with t



Telecom
Indian telecom sector clocking single digit growth due to high digital illiteracy rates : COAI
Indian telecom sector clocking  single digit growth due to high digital illiteracy rates : COAI - Digit
According to the industry body, 90% of Indians remain digitally illiterate, which is also a big reason for the telecom industry's declining revenues.


Telecom
India's GDP could be $1 trillion more by 2020 if all citizens go online
India's GDP  could be $1 trillion more by 2020 if all citizens go online - Scroll.in
The report, titled "Connecting the world: Ten mechanisms for global inclusion", is based on a study done by PricewaterhouseCoopers for Facebook.


Telecom

Telecom
Call drops: COAI says telcos are not using RLT tech to cheat customers
Call drops:  COAI says telcos are not using RLT tech to cheat customers - Times of India
Industry body COAI today rejected allegation of "inappropriately" using the Radio Link Timeout (RLT) technology for masking call drops. It is used globally by all operators to ensure optimal customer experience.




Finance
Govt wants cash-rich CPSEs to buy back shares from market
Govt wants cash-rich CPSEs to  buy back shares from market - Livemint
Department of Investment and Public Asset Management, or DIPAM, releases guidelines on capital restructuring, in a move to help the govt achieve its disinvestment target


Finance
Efforts to link bank accounts with Aadhaar gather steam
Efforts to link bank accounts  with Aadhaar gather steam - Livemint
The government’s efforts are primarily geared towards fixing leaks in the direct benefit transfer schemes and ensure people got the funds in a secure manner


Finance
IRDAI warns Sahara India Life Insurance on non-compliance
IRDAI warns Sahara India Life  Insurance on non-compliance - Economic Times
IRDAI has warned Sahara India Life Insurance Co for non-compliance of 'Expenses of Management' (EoM) norms, and asked it to bring the expenditure levels within the limits by 2016-17-end.


Finance
Inability to raise capital will hurt PSB market share: Fitch
Inability to raise capital will  hurt PSB market share: Fitch - Economic Times
In a note titled ‘India Bank Credit Profiles at Risk Under Heavy Losses Fitch said public sector banks balance sheets could become unstable if they cannot raise more capital.



Ecommerce
Volatile environment, huge pressure to perform drive startup employees into depression
Volatile environment, huge  pressure to perform drive startup employees into depression - Economic Times
The young and restless ecosystem is turning dreams into nightmares. A Psychologist says the number of patients from startups has gone up two-fold in the last six months.

Ecommerce
Jabong's revenue up 14% at Rs 243.78 crore for Q1 of 2016
Jabong's revenue up 14% at  Rs 243.78 crore for Q1 of 2016 - Economic Times
Rival of Myntra, Voonik and Koovs, is now planning to shed several low-margin brands, including three-fourth of its private labels, in a bid to cut losses.

Ecommerce
Nextbit Robin pre-orders exhausted on Flipkart before sale
Nextbit Robin pre-orders  exhausted on Flipkart before sale - The Indian Express
The company has run out of units of Nextbit Robin, and will be available on Flipkart within a week.

Ecommerce
Love shopping online? Now, Flipkart introduces the 'No Cost EMI' option
Flipkart's 'No Cost EMI' entails zero processing fee, zero down payment and zero interest for customers.


Software
Why Mobile developers in e-Commerce enjoy twice the salary compared to others?
Why Mobile  developers in e-Commerce enjoy twice the salary compared to others? - Firstpost
A new report dubbed India Mobile Talent 2016 released along with Belong, a data-driven talent acquisition platform, has revealed some interesting insights about mobile developers in e-commerce space across the nation.


Software
Internet-based calls like Whatsapp, Skype may soon become the norm of Telecom players as well
Internet-based calls like  Whatsapp, Skype may soon become the norm of Telecom players as well
Internet-based calls offered by the likes of Skype and Whatsapp at sharply lower costs than telcos was the trigger for the net neutrality debate in India.


Software
Chinese smartphone maker Xiaomi withdraws request for exemption to 30% local sourcing rule
Chinese smartphone maker Xiaomi  withdraws request for exemption to 30% local sourcing rule
The Chinese smartphone maker is learnt to have removed the specific demand since its local manufacturing will include sourcing as per the government norms.


Software
Microsoft CEO Satya Nadella pitches skype for 'Aadhar'
Microsoft CEO Satya Nadella  pitches skype for 'Aadhar'
This is Nadella's third visit to the country since he took over as Microsoft CEO in February 2014. In December, he was in Mumbai and had also visited THub in Hyderabad.



Digital
Uber official meets Nirmala Sitharaman and discusses its issues, including Karnataka's latest regulations on cab aggregators
Uber official meets Nirmala  Sitharaman and discusses its issues, including Karnataka's latest regulations on cab aggregators - TOI
According to reports, the transport authorities had said that many aggregator companies have not obtained licensed from authorities and violating norms.


Digital
Online drug marketplace 1mg raises funds from Swiss investor HBM Healthcare
Online drug  marketplace 1mg raises funds from Swiss investor HBM Healthcare
Online drug marketplace 1mg, operated by Gurgaon-based 1mg Technologies Pvt Ltd, has secured funding from Swiss investment firm HBM Healthcare Investments in an addition to its recently closed Series B round. This is HBM’s first direct investment in a digital health company in India, 1mg said in


Digital
Equalization levy for online advertisers likely to increase costs for Indian units of global firms
Equalization levy for online  advertisers likely to increase costs for Indian units of global firms - Livemint
The finance ministry has notified that the equalisation levy (popularly known as Google tax) introduced in this budget, will come into force from June..


Digital
Rocket Internet-backed fashion e-commerce Jabong revenue grows in Q1 as losses shrink
Rocket  Internet-backed fashion e-commerce Jabong revenue grows in Q1 as losses shrink
Rocket Internet-incubated fashion e-commerce venture Jabong that hit a speed bump in the second half of 2015 has begun the new year with a marked improvement in performance while simultaneously cutting down operating loss. The firm posted its best transaction volumes, net revenue and gross mercha



Logistics
Chennai Port becomes the deepest port for container ships in India
CHENNAI: Chennai port is now the deepest port among the 12 major ports in India and can now handle large ships, according to the Chennai Port chairman, Cyril Ge...


Logistics
New airline 'POP', of Stansted's proposes long-haul routes to Amritsar and Gujarat
New airline 'POP', of  Stansted's proposes long-haul routes to Amritsar and Gujarat - The Independent
A new airline launching a direct route not served by any other airline out of London is pretty newsworthy stuff. But multiply that by a factor of two, sprinkle in a crowdfunded launch proposition and a generous dose of philanthropy – the airline has committed to donating 51 per cent of its profits to funding social projects – and you have "POP", a new low-cost airline that plans to rev up its engines for flights out of Stansted before the end of the year.


Logistics
Road rage: Uber cabbie stabbed to death in Noida
Road rage: Uber cabbie stabbed  to death in Noida - Hindustan Times
An Uber driver, Gaurav Chauhan (23), was killed in Noida around Sunday midnight after an argument with another motorist and three bikers in what looks like a case of road rage, but police are not ruling out personal enmity as reason for the murder.


Logistics
Centre plans to limit air fare surge during peak travel season ot during calamities
Centre plans to limit air fare  surge during peak travel season ot during calamities - Times of India
Domestic air travellers may soon be protected from the sharp surges in fares during peak travel seasons or in times of calamities, both natural and man-made.



Construction
Thomas Cook India and Vista Rooms enter into a partnership
Thomas Cook India and Vista  Rooms enter into a partnership - ET Realty
The partnership provides customers online booking options via thomascook.in covering standalone accommodation, and as inclusions in the company's holi..


Construction
Tirupati gearing up for smart city competition
Tirupati gearing up for smart  city competition - ET Realty
Tirupati stood at 22nd place in the first round, falling short of just two ranks to be selected in the top 20 smart cities list


Construction
DLF to sell 32 screens to PVR for revised price of Rs 433 crore
DLF to sell 32 screens to PVR  for revised price of Rs 433 crore - ET Realty
In June last year, PVR had announced the acquisition of DT Cinemas for Rs 500 crore after aborting from a similar deal in February 2010.


Construction
Robert Vadra gets Sonia's support on 'owning' benami property in London
Robert Vadra  gets Sonia's support on 'owning' benami property in London - ET Realty
This is also a political conspiracy. What do you mean by Congress-mukt Bharat? Everyday they give excuses and level wrong allegations, said Sonia Gand..



HR
Boost productivity to make most of population edge -- Indian finance minister
Boost  productivity to make most of population edge -- Indian finance minister - Nikkei Asian Review
TOKYO -- Enhancing productivity across the region would help to ensure the coming years are "Asian decades," Indian Finance Minister Arun Jaitley said


HR
IT Sector in India is likely to produce 10.5 lakh jobs till 2020
IT Sector in India is likely to  produce 10.5 lakh jobs till 2020 - India Today
In the coming years,if all goes well, India is capable of excellent job opportunities in the IT Sector.


HR
Geological Survey of India is hiring, apply before July 28
Geological Survey of India is  hiring, apply before July 28 - India Today
All the candidates can now apply for various posts at The Geological Survey of India, Kolkata.


HR
The Indian Jobs Machine Is Faltering, And Here's How To Fix It
The Indian Jobs Machine Is  Faltering, And Here's How To Fix It - Swarajya
Without growth, jobs won’t come but without jobs, growth itself will falter.




Marketing
Regulatory framework for online media, calling and messaging? : TRAI’s new Net Neutrality pre-consultation paper
Regulatory framework for online  media, calling and messaging? : TRAI’s new Net Neutrality pre-consultation paper - ET
Internet apps providing Internet telephony (VoIP) services and Instant Messaging pose a threat for customer privacy and national security, the Indian telecom regulator TRAI (pdf) has said in a pre-consultation paper. The TRAI suggests a need for a detailed regulatory framework for VoIP and messa


Marketing
Leo Burnett's digital agency company photo to merge with Publicis iStrat : Report
Leo  Burnett's digital agency company photo to merge with Publicis iStrat : Report - Economic Times
Indigo iStrat will have more than 300 employees with headquarters in New Delhi, and will work with all Publicis Communications companies in India.


Marketing

Marketing
Google tax for businesses advertising online in India from June 1
India's Central Board of Direct taxes today released a notice announcing details of a new 6 percent tax that will be imposed on payments made to nonresidents for online advertising beginningr . . .






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