BUSINESS
Stricter e-commerce norms to come in, flash sales may be history
As per the new draft regulations, no e-commerce entity shall allow any display or promotion of misleading advertisements, whether in the course of business on its platform or otherwise. Further, if the norms come into effect, every e-commerce shall establish an adequate grievance redressal mechanism having regard to the number of grievances ordinarily received by such entity from India.
CCI okays Heineken's additional stake acquisition in United Breweries
The proposed transaction, however, is subject to the outcome of certain court proceedings, according to a combination notice filed with the anti-trust body. In a tweet on Monday, the CCI said: "Commission approves proposed acquisition of additional equity stake in United Breweries Limited by Heineken International B.V."
Industry, govts and civil society must work as a coalition: Mukesh Ambani
Addressing the Qatar Economic Forum, Ambani spoke about the biggest challenges for the industry as the world emerges from the Covid-19 pandemic. "Well, I think that one of the challenges is to make sure that we get rid of the vaccination divide. It is critical that bulk of the developed world will be vaccinated by the end of the year.
Stock Talk: Top 5 Construction Stocks Comparison
According to a survey by CBRE on India’s construction cost trends, the industry is likely to witness increased investment in technology oriented construction such as use of prefabricated and modularised components including others.
Reprieve for cash deposits made by housewives during demo 2016
The Tribunal was considering an appeal filed by a housewife, the assessee who deposited the cash of Rs 2,11,500 in the bank account during the demonetization period. It was the case of the assessee that she had collected/saved the above-said sum from her previous saving, given by her husband, son, relatives for the purposes of her and her family's future, the report said.
'FDI to developing Asia defied pandemic, grew by 4% in 2020'
"Despite the pandemic, FDI to and from the region remained resilient in 2020. Developing Asia is the only region recording FDI growth, accounting for more than half of global inward and outward FDI flows," said UNCTAD's director of investment and enterprise, James Zhan. "FDI prospects in 2021 for Asia are more favourable than the global average, because of recovery in trade, manufacturing activities and a strong GDP growth forecast," he added.
Maruti Suzuki to hike prices in next quarter
In a regulatory filing, the company said that over the past year the cost of the company's vehicles continued to be adversely impacted due to increase in various input costs. "Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price rise," it said.
Increased competition, lack of bidding may create stress in road sector
According to a ICRA report, with the entry of new players in the road sector, competition had heated up with bidders quoting a discount of as high as 30-35 per cent to the NHAI's base price. The BOT (HAM) has also witnessed heightened competition resulting in average premium to NHAI cost reducing to around 15 per cent from 25-30 per cent earlier and even negative O&M bid in some cases.
Progcap raises $25mn funding from Sequoia Capital and Tiger Global
The company will deploy these funds to enhance its services and expand the brand's presence across existing geographies. The firm will also use the capital to scale up the team, strengthen the technology differentiation and diversify into new product offerings to fortify its vision of building a full stack digital platform for last mile retailers.
Retail business likely to be RIL's next growth engine
A Goldman Sachs report noted that after growing 5x over FY16-FY20, RIL's core retail revenue growth has taken a pause in FY21 due to Covid related macro headwinds. "However, we believe retail business (including e-commerce) is set to be the next growth engine for RIL, with potential for retail EBITDA to grow 10x over the next 10 years," it said.
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