Chennai

PwC a mouthpiece of e-comM giants: traders

Traders have alleged that Pricewaterhouse Coopers(PwC) is a mouthpiece of global e-commerce giants and that it was misleading the policy makers. It also asked PwC to prove the veracity of the figures mentioned in a "draft analysis report" which had reportedly estimated the impact of the FDI curbs on the sector. However, PwC denied the existence of any such report and termed media reports as incorrect.

Kumbh Mela sends hotel tariffs to sinful heights

The room tariffs in and around the Kumbh Mela site has gone up by more than 100 per cent, as the supply is not able to meet the huge demand for inventory.

Almost 14 crore pilgrims come over the 49 days of celebrations that started this week in Prayagraj. Travel service providers say too limited inventory is available, as the celebrations occur only once in six years. More visitors are expected this time compared to the last Kumbh, as better air, rail and road connectivity is supporting arrivals.

90% of wood for paper grown by farmers in India

Paper industry has always been criticised for destroying forests and precious trees. However, 90 per cent of the demand for wood in India for the paper industry is met with farm forestry or using trees specifically planted for the industry.

According to Indian Paper Manufacturers Association, the wood for manufacturing of paper comes from cultivated trees grown by farmers. Paper Industry in India is not a forest-based industry, but an agro-based industry, providing jobs and income to lakhs of farmers.

Ananth Narayanan resigns from Myntra

After months of speculations, Ananth Narayanan has decided to step down as CEO of Myntra and Jabong.  Amar Nagaram, who was vice president, consumer shopping experience of Flipkart has been named as Head of Myntra and Jabong and he will be reporting to Kalyan Krishnamurthy, CEO of Flipkart Group.

Traders consolidate as one vote bank to up bargaining power

Traders’ associations are launching a massive national campaign from February 1 to consolidate the trader community votes under the slogan, ‘One Nation-One Trader-One Vote.’ The campaign, they believe, will enhance their bargaining power with governments and political parties.

Co-living to be a $2b market in four years

The tech enabled co-living market is poised to leap forward and grow multi-fold from a meagre $120 million to $2.2 billion in the next four years.  Well-funded players are expanding fast in top cities, providing higher yields to property owners and reasonably priced rental accommodation for millennials. 

Macro economic factors to drive gold demand: WGC

Increased market uncertainties, expansion of protectionist policies, Federal Reserve’s neutral stand and its impact on dollar, inversing yield curve and increasing investments in gold ETFs will positively impact gold’s demand in 2019, finds World Gold Council. These trends will be relevant for gold’s short and long-term price behaviour.

Kohli top celebrity endorser, SRK loses brand value

Cricketer Virat Kohli remained the top celebrity endorser and increased his brand value to $170 million in 2018, while actor Shah Rukh Khan lost value and slipped to fifth position from second in 2017.

Deepika Padukone grabbed the second slot with brand value of $102 million and her husband and actor Ranveer Singh too moved up to the fourth position with a brand value of $63 million. Akshay Kumar, who moved up to the third position was valued $67 million.

Total brand value of the top 20 celebrities stood at $877 million.

Asirvad to secure PE funding; aims for IPO, Rs 10,000 crore AUM

Asirvad Microfinance, the micro-lending subsidiary of Manappuram Finance, is going for a major capital infusion to achieve an AUM of Rs 10,000 crore by FY22. It is in talks with private equity firms to raise Rs 500-600 crore this year and by FY21 it plans to go for IPO.

Snapdeal lands in trouble for selling sex stimulant drug

The e-pharma industry had just got a breather from the court, that online sale of drugs has come once again under the scanner affecting the reputation of the industry.

The Karnataka government issued an order permitting authorities to initiate prosecution proceedings against Snapdeal and its seller for “unlawfully selling drugs”.

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