The Department for Promotion of Industry and Internal Trade (DPIIT) is expected to soon issue a clarification on the issues raised by certain stakeholders over the government‘s decision to permit 26% FDI in digital media sector, according to sources. Certain industry players and experts have stated that the move to cap foreign direct investment (FDI) […]
Archives for 2019
Aramco CEO says Saudi-Kuwaiti accord paves way for resumption of oil production
Saudi ARAMCO said on Wednesday a new agreement between Saudi Arabia and Kuwait paves the way for the resumption of oil production in the Neutral (partitioned) Zone shared by the two countries.
Internet shutdown leaves UP at a net financial loss
The internet shutdown in parts of Uttar Pradesh due to the protests over the Citizenship Amendment Act has hit banking services, including movement of cash and branch operations. Bankers told ET that transactional services had come to a halt, and merchants were finding it hard to conduct business. “We have seen our business in certain […]
Foodpanda losses widen to Rs 756.4 crore in FY19
Foodpanda, owned by ride-hailing company Ola, has posted a wider loss of Rs 756.42 crore for FY19 compared to the previous fiscal, as per regulatory documents. Pisces Eservices, which operates Foodpanda, had registered loss of Rs 227.95 crore in FY2017-18, documents filed with the Corporate Affairs Ministry and accessed by business intelligence platform Tofler showed. […]
Payments banks’ FY19 losses swell to Rs 626 crore
Payments banks — including those floated by Paytm, Reliance Jio, Airtel and Fino — saw their aggregate losses mount 21% to Rs 626 crore during fiscal 2019 from Rs 516 crore in the previous year. “The limited operational space available to them and the large initial costs involved in setting up of the infrastructure imply […]
RBI introduces new Prepaid Payment Instrument for your daily grocery payments
The Reserve Bank of India has given Indian consumers a new option to make their daily payments at local shops and retail outlets for the purchase of daily household goods and services. In a bid to give increased impetus to small ticket digital payments RBI on Tuesday has introduced a new Prepaid Payment Instrument (PPI) […]
Digital-first brands took just three years to hit Rs 100 crore revenue
Digital-first brands such as BoAt, WoW Skin Sciences, MamaEarth and LifeLong have hit Rs 100 crore in revenue run rate within 24-36 months of launch, a milestone that used to take at least five years earlier, investors said. The brands — in the personal care, FMCG, electronics and appliances sectors — achieved traction quickly as […]
RBI sees corporate governance ‘fault lines’ at some lenders
Growing problems of corporate governance are emerging at India’s private banks and all lenders are at risk of rising default rates even though asset quality has improved overall, the Reserve Bank of India said on Tuesday.
Stocks set to add to year-end rally in shortened Christmas Eve session
U.S. stock index futures pointed to a slightly higher start on Tuesday, building on gains in the record-setting rally into the year-end. Futures on the Dow Jones Industrial Average were up about 20 points, pointing to a higher open of more than 8 points. Futures on the S&P 500 and Nasdaq Composite were higher too. […]
Beauty brands tap TikTok influencers for holiday campaigns
In a TikTok video with the hashtag #awesomekiss, viral teen star Charli D’Amelio uses an eos Products lipbalm before kissing the screen and transforming into a dancing, costumed Santa in an ad for her 12 million followers. Just over a year after TikTok officially launched U.S. brand partnerships, major brands are tapping influencers on the […]