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Times of India | Business News

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RIL chief Mukesh Ambani outlines plan to take on Amazon, Flipkart

Jio and Reliance Retail will launch a commerce platform to empower its 12 lakh small retailers in Gujarat. The retail arm operates nearly 10,000 outlets across 6,500 Indian cities which will come aboard through Jio’s apps. Last month, India tightened rules that will disallow foreign-owned online retailers and will benefit local enterprises such as Reliance.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/ril-chief-mukesh-ambani-outlines-plan-to-take-on-amazon-flipkart/articleshow/67589369.cms

Wipro Q3 profit jumps 32%; announces dividend

Net profit of the IT major stood at Rs 2,545 crore in the three months to December 31, from Rs 1,930 crore in the same period a year earlier. The Bengaluru-based company's revenue increased by 10.2 per cent in Q3, while revenue from its IT services grew 13 per cent.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/wipro-net-profit-jumps-32-in-q3-announces-dividend-bonus-issue/articleshow/67588621.cms

Tesla to cut jobs, says 'road ahead is very difficult'

"Higher volume and manufacturing design improvements are crucial for Tesla to achieve the economies of scale required to manufacture the standard range (220 mile), standard interior Model 3 at $35k and still be a viable company," the electric carmaker said.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/international-business/tesla-to-cut-workforce-by-7-says-road-ahead-is-very-difficult/articleshow/67588011.cms

Sensex, Nifty end higher for fourth straight day

On the BSE index, Reliance Industries, Kotak Mahindra Bank, HCL Tech, ONGC, Asian Paints and Vedanta were among the major gainers with their stocks surging as much as 4.34 per cent. On NSE, except for Nifty IT, all other sub-indices finished in red with Nifty Pharma losing the most, down 2.70 per cent.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/sensex-nifty-end-higher-for-fourth-straight-day/articleshow/67587639.cms

Toyota to start transition to BS-VI ahead of schedule

The company believes that early migration to the stricter emission norms will help it maintain a smooth transition to the new regime, especially as it is almost a certainty that older version cars will not be allowed to sell after March 31, 2020.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/toyota-to-start-transition-to-bs-vi-ahead-of-schedule/articleshow/67590121.cms

RIL chief urges PM to take steps against data colonisation

Stressing that, in this new world, data is new wealth, Ambani said, "India's data must be controlled and owned by Indian people and not by corporates, especially global corporations." "Gandhiji led India's movement against political colonisation. Today, we have to collectively launch a new movement against data colonisation," he said.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/ril-chief-mukesh-ambani-urges-pm-modi-to-take-steps-against-data-colonisation/articleshow/67585819.cms

Root of onion glut: Cultivation doubled in 4 years

The crop area in Nashik, a major onion supplier to Mumbai, Delhi and many parts of north India, increased from 1.24 lakh hectares in 2013-14 to 2.28 lakh hectares in 2017-18.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/root-of-onion-glut-cultivation-doubled-in-4-years-after-price-rise/articleshow/67583768.cms

Interim Budget may go beyond vote-on-account

Finance minister Arun Jaitley on Thursday gave a strong indication that the February 1 interim Budget may not necessarily be a vote-on-account, emphasising that the government could deviate from an election-year convention to meet challenges confronting the economy, like the one facing the farm sector.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/interim-budget-may-go-beyond-vote-on-account-hints-arun-jaitley/articleshow/67580036.cms

India sees fastest app download growth

The latest annual data from App Annie, an independent agency that collates data on apps, shows downloads in India (across Android and iOS) growing by 165% in this period. In China, which accounts for almost 50% of all the downloads in the world, it grew by 70%. Indonesia followed at 55%. In food delivery, India saw a dramatic 900% spike in downloads.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/india-sees-fastest-app-download-growth/articleshow/67581119.cms

Banks plan Rs 8.2k cr Jet debt restructuring

State Bank of India (SBI) on Thursday said that lenders are considering a restructuring plan — an acknowledgement that the loan is not viable in the present form. RBI norms require lenders to make at least 15% provisions on their exposure once a loan is restructured.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/banks-plan-to-recast-jet-airways-debt-may-take-big-hit/articleshow/67581073.cms

IL&FS’ contract to build Zojila tunnel scrapped

The work on Z-Morh tunnel in J&K, which was also bagged by the troubled infrastructure major, has been stuck since last July. The state-owned National Highways and Infrastructure Development Corporation, which is responsible for building highways in hill states and north-east, has served a termination notice to the IL&FS for no progress in this 6-km tunnel project.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/ilfs-contract-to-build-zojila-tunnel-scrapped/articleshow/67584939.cms

In first for pvt co, RIL crosses Rs 10k cr in quarterly profit

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/in-first-for-pvt-co-ril-crosses-rs-10000-cr-in-quarterly-profit/articleshow/67581091.cms

Philips to shut UK plant in '20, 400 jobs at risk

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/international-business/philips-to-close-its-uk-factory-in-2020-with-loss-of-400-jobs/articleshow/67577615.cms

India may see double-digit salary growth in '19

According to global consulting firm Korn Ferry, as a result of rapid economic growth, India continues to enjoy the highest overall salary increases and real-wage growth in Asia. Salaries in India are expected to increase 10% in 2019 as compared to 9% last year and inflation-adjusted real-wage hikes are likely to rise to 5% from 4.7% in 2018.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/employees-in-india-may-see-double-digit-salary-growth-this-year-report/articleshow/67572408.cms

Here's how interim budget works: Key facts

Convention demands that the outgoing administration present an interim budget to secure Parliament’s approval for expenses until a new govt is in place. The rules also allow for the spending plan to be passed by Parliament’s lower house without any discussion.Watchers are waiting to see if PM Modi will betray convention and announce tax concessions.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/lame-duck-or-populist-heres-how-interim-budget-works/articleshow/67569954.cms

RIL net profit jumps nearly 9% in Q3

Net profit of the Mukesh Ambani-led company stood at Rs 10,251 crore in Q3 against Rs 9,420 crore in the same period a year earlier. Analysts polled by Reuters had expected a profit of Rs 9,648 crore in Q3. In the refining and petrochemicals unit, which contribute around three-quarters of overall revenue and profits, revenue rose 47% and 37% respectively.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/reliance-industries-net-profit-jumps-nearly-9-in-q3/articleshow/67574390.cms

India a 'lab' to US cos for reinvention: Expert

"India is becoming a laboratory for US companies, not only to explain their presence there but also to reinvent themselves in sustainability and disruptive-technology," Djordjija Petkosk, lecturer and senior fellow at Wharton Legal Studies & Business Ethics, University of Pennsylvania and advisor to World Bank, said.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/india-becoming-lab-for-us-companies-to-reinvent-themselves-says-us-expert/articleshow/67572315.cms

'E-comm curbs could hit sales by $46bn by 2022'

Under the changes, e-commerce firms in India will from February 1 not be able to sell products via companies in which they have an equity interest or push sellers to sell exclusively on their platforms.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/e-commerce-curbs-could-hit-online-sales-by-46-billion-by-2022-report/articleshow/67571912.cms

'May need more currency as GDP size increasing'

Following demonetisation in November 2016, when the government junked high value currency notes of denominations 500 and 1,000, there was a shrinkage in currency in the system. Now, with the growth in Gross Domestic Product (GDP), "there may be a need for more currency in the system," the RBI official said during an interactive session here.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/may-need-more-currency-as-gdp-size-increasing-rbi-official/articleshow/67570855.cms

From 2020, pre-filled I-T returns, refunds in a day

The Cabinet on Wednesday cleared an ambitious Rs 4,242-crore project for integrated e-filing and centralised processing. The project will reduce the return processing and refund time from the current average of 63 days, railway minister Piyush Goyal said. The project, which will be implemented by Infosys, will take around 18 months.

Click here to Read full Details Sources @ https://timesofindia.indiatimes.com/business/india-business/from-2020-pre-filled-i-t-returns-refunds-in-a-day/articleshow/67565007.cms


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