Mar 23, 2016 - Multinational foreign banks like RBS, HSBC exiting India to protect profitability

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Sree Vijaykumar From the Editor's Desk The Concorde failed for a variety of reasons: expensive tickets, sonic booms that nixed overland travel, the slowdown in air travel after Sept. 11. In the years since, the other couple of efforts to build a supersonic commercial jet fizzled, and the conventional aerospace wisdom is that such projects are too expensive and risky. Enter Boom Technology, a Denver based startup that promises to fly you from New York to London in 3.4 hours, at less than business class fare. Using carbon-fibre composite instead of aluminium and advanced software that reduces testing costs, the all-star team (Pratt & Whitney, NASA, Lockheed Martin) might just be able to bring super-sonic travel back - Comment Multinational foreign banks like RBS, HSBC exiting India to protect profitability Bankers say this pullout from India is an indication of the demise of global banking as we knew it at the turn of the century. Tata Sons buys over 1% stake in Titan for around Rs312 crore In its filing to stock exchanges, Tata Global Beverages said it has sold 9.25 million shares of Titan through a block deal transaction executed on BSE Sebi imposes interim ban on Sharepro, promoters Market regulator finds lapses in share transfer, dividend encashment services offered by the agent in some cases BigBasket raises $150 million in fresh funds Investors include The Abraaj Group, Sands Capital and IFC; BigBasket can use the investment to fund expansion or growth in existing markets Ola acquires mobile payments firm Qarth Qarth, which runs a mobile payments app called X-Pay, is Ola’s second investment in the mobile payment space HSBC's Hitendra Dave to take charge of corporate banking along with markets Sunil Sanghai has been re designated as vice chairman and head of investment banking in charge of mergers and acquisitions. Edelweiss to buy JPMorgan’s mutual fund business in India With assets worth Rs7,501 crore, JPMorgan MF is almost five times bigger in size than that of Edelweiss Uber alleges Ola is trying to sabotage its business using fake accounts Uber says Ola’s employees are creating fake accounts which have been used to book and make cancellations on Uber’s platform, leading to loss of revenue to the company Post offices pip SBI to have largest core banking footprint, says Ravi Shankar Prasad Prasad added that the number of ATMs in post offices has increased from 4 when he took over as the minister to 850 today. State-run oil companies to set up start-up fund: Dharmendra Pradhan The move is in line with the government’s idea of promoting entrepreneurship, innovation and self employment India's balance of payments swing to modest surplus India's balance ofpayments swung to a surplus in October-December, marking amodest upturn in its financial position that analysts believemay prove resistant to global economic fragility. What the new green norms for thermal power plants imply According to industry estimates, firms need to spend anywhere between Rs0.5 crore and Rs1.5 crore per megawatt to meet the new emission norms Why CBI and banks must work together in times of the present crisis As commercial organizations, banks can ill afford to call up loans at the first sign of account distress Mukesh Bansal, Ankit Nagori to launch healthcare start-up Mukesh Bansal and Ankit Nagori will register the firm over the next month and have started the process of hiring engineers for their start-up IT, Manufacturing, Retail Hold the Key to Job Creation The New Indian Express The New Indian ExpressCHENNAI: IT, manufacturing and retail sectors are likely to become top job providers, with 60% of recruiters projecting creation of new jobs in January-June 2016 period. As per Naukri Hiring Outlook Survey, 40% recruiters indicated that maximum jobs ...sp;» Snapdeal appoints BBH as creative agency While there was no formal pitch, BBH has been engaging with Snapdeal for the last couple of months while the ecommerce company. McDonald's, Pizza Hut Cook Up New Plans for India India’s once seemingly insatiable appetite for fast food has hit a wall at McDonald’s, Pizza Hut, KFC and other global brands, deflating optimism that untapped demand in the 1.2 billion-person market will offset slumping consumption in the West and China. Priced at Rs 39000, new iPhone SE disappoints Indian fans Grey market traders have naturally spotted an opportunity for arbitrage but they say the small iPhone with high specs hasnt generated the usual interest. The food route to healthy profits Travel Food Services has shown that making money in the aviation sector needn’t always be difficult, writes Varun Aggarwal BigBasket raises $150 million from UAE's Abraaj Group, others Abraaj also said BigBasket is continuing to deliver strong growth, with a five-fold increase in monthly revenues over the last 18 months. Six daughters of industrialists who are making their own space under the Sun They are 21st century Indian princesses, born with the metaphorical silver spoon in their mouths. With staggering personal wealth and doting dads and moms, these ladies rarely want for anything. PVR set to open India's largest multiplex in Noida, earmarks Rs 130 crore capex for FY17 The Rs 45 crore Superplex will take the total number of screens for PVR to 516 across the country and help it cement the position of the market leader. Here's What People Drunk-Shop For On Friday Nights Late-night shopping patterns involve ample shoes and lingerie, according to Lyst. National Optical Fibre Network project: Fast internet, slow implementation National Optical Fibre Network project hits speed breakers as limited resource deployment by institutions, issues in co-ordination and mobilisation pushes deadline by nine months. From roads to telecom, the state of India's infrastructure Five top government officials speak on infrastructure in India at the ‘Infra Ministerial’ event organized by CNBC TV 18 and Mint The next big thing in phones may not be a phone Nearly a decade after the iPhone broke the mould for mobile phones the question is now being asked whether the evolution of the smartphone has finally come to an end as even Apple now treats older, smaller 4-inch screens as something new. 4G-LTE networks not immune to privacy leaks Nullcon 2016 speaker, Altaf Shaik has found multiple security-related weaknesses in 4G-LTE networks. A Ph.D. student in Security in the Telecommunications Final views on net neutrality soon: Telecom watchdog Growth in broadband subscriber base in India is a reason to cheer. But the growth comes with significant challenges for both broadband users and telecom network operators. India’s broadband subscribers soared 60 percent to 136.53 million at the end of December 2015, from 85.74 million a year earlier, according to Telecom Regulatory Authority of India India attracts over Rs 1.28 lakh crore in electronic manufacturing The government has also made it clear that it will stand by Internet as a medium to empower underprivileged and remain open and non discriminatory. The iPhone SE costs $200 more in India and I'd still buy it Shortly after Apple announced the all-new 4-inch iPhone SE with a reasonable $399 (Rs. 26,600) price tag, fans in India were annoyed to learn that the devi Microsoft India hosts Open Hack challenge for Azure To create specific solutions for issues related to women's safety, transport and other key areas on Azure cloud platform, Microsoft India has tied up .. Quixey Appoints Industry Leader in Search Rajat Mukherjee as Chief Technology Officer MOUNTAIN VIEW, Calif., March 22, 2016 /PRNewswire/ -- . With 20 years... JLL India announces a tie-up with online marketplace Snapdeal to sell homes, as it seeks to tap the growing e-commerce business in India Property consultant JLL India today announced a tie-up with online marketplace Snapdeal to sell homes as it seeks to tap the growing e-commerce business in India. Pepperfry hopes to report profit by the end of this year helped by sharp growth in home decor Online furniture and home decor store Pepperfry aims to be profitable by the end of this year joining a number of single category online retailers. Cookware brand Wonderchef looking to raise Rs 100 crore ($15 million) to expand its distribution network as well as beef up product line and marketing Founded in 2009 by Kapoor and former Sodexo Pass India managing director Ravi Saxena, the company sells premium kitchen appliances, cookware and bakeware. 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