Miscellany

Miscellany

Millennials prefer travelling with family

Going on a solo travel would be a fad among the millennials globally. But Indian millenials are more family-oriented. Majority like travelling with their family members who belong to different generations, finds a study.
Over 50 per cent of Indian millennials want to spend quality time travelling with their multi-generational fa­m­ily and 42 per cent enjoy travelling with their partner. Friends and parents come next in the list and only 7 per cent enjoy travelling alone, finds the survey by online travel company Expedia.

SEBI sets up panel to improve corporate governance

Securities and Exchange Board of India (SEBI) has set up a committee to help improve corporate governance of listed companies, it said on Friday, in the light of recent high-profile corporate tussles.

Apart from helping ensure the independence of independent directors, the panel will also advise the market regulator on resolving issues related to accounting, auditing and board’s disclosure practices, SEBI said in press release.

RCom gets 7 mths to service debt; to cut burden by 60%

Debt-laden Reliance Communications today said its lenders have agreed to a strategic restructuring plan under which it will get a 7-month standstill to service loans amounting to Rs 45,000 crore.
In a damage control mode following credit rating downgrades, RCom chairman Anil Ambani held a press conference to announce that the debt burden will be reduced to Rs 20,000 crore with two deals by September, before the December deadline given by the lenders at a meeting with them earlier in the day.

International House of Pancakes opens in Gurugram

DineEquity, one of the US’ largest full-service restaurant company, on Thursday announced the opening of International House of Pancakes (IHOP), its first restaurant in India at the DLF Cyber Hub in Gurugram, Haryana. Launched under franchisee Kwal’s Catering Private, a multi-unit franchise organisation, the chain plans 19 more outlets in the next 10 years.
“With the ongoing growth of IHOP and introduction of this world-famous dining experience in India, this is a proud moment for us,” said Gary Moore, regional VP and GM at International DineEquity Inc, IHOP's parent company.

Tougher US visa vetting, including social media checks

The Trump administration has rolled out a new questionnaire for US visa applicants worldwide that asks for social media handles for the last five years and biographical information going back 15 years.
The new questions, part of an effort to tighten vetting of would-be visitors to the United States, was approved on May 23 by the Office of Management and Budget despite criticism from a range of education officials and academic groups during a public comment period.

Vinay Dube to be CEO of Jet Airways

Jet Airways has appointed Indian American Vinay Dube (in pic), a senior executive with Delta Airlines, as its chief executive officer. Currently, Dube is the senior vice-president (Asia Pacific) with Delta Air Lines and has been associated with the US-based carrier since 2007. There has been no full-time CEO at Jet Airways since Cramer Ball quit in February 2016.
"As the CEO of Jet Airways, Dube will be responsible for strengthening the airline's overall business performance and its position in the domestic and international markets," the airline said.

Android creator unveils ceramic phone

Andy Rubin created the software that powers hundreds of millions of Android devices around the world. Now he has two gadgets of his own: the Essential Phone and the Essential Home.

India grants tax concessions to Apple to expand production

India has offered to allow Apple to import mobile handset components intended for use in local manufacturing tax free, a top government official said on Tuesday. The tax concessions will be subject to the condition of increasing local value addition over a period of time.

No pending dues to sellers:Snapdeal

Refuting charges of non payment, e-commerce major Snapdeal today said it has no outstanding dues towards sellers on its platform.
The statement comes after e-sellers' representative body All India Online Vendors Association (AIOVA) alleged that the city-based online marketplace has not settled dues with many sellers. Snapdeal said payments to sellers are made 6-10 times a month and typically, sellers receive their payments within 3-5 days of the sale of their goods.

Rupee gets stronger, may cause job losses in IT sector

The rupee has gained more than 5.5 per cent since January 2017 on back of improving macro economic indicators that make foreign investors confident to pump more and more money in the local equity market. Though a stronger rupee hurts exporters and manufacturers, the government wants a stronger rupee as it focuses on attracting more foreign capital. A stronger rupee would attract more foreign capital. Forex experts said that exporters have begun hedging their positions since March, when the rupee was trading at 65 levels.

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