Pune to float Municipal Bonds
Pune is among 14 cities which will float municipal bonds to raise money from the market for key urban development projects, a report said.
The Centre will also provide an interest subsidy of Rs 400 crore to make the proposal more attractive. Pune and Ahmedabad will be the first cities to float such bonds.
Vodafone WiFi Offer
Vodafone is offering WiFi services to small, medium and large enterprises to strengthen its enterprise services portfolio, a report says.
The telecom firm will offer the SuperWi-Fi to corporates in a bid to overcome hurdles faced in its retail business which facing pressure from Reliance Jio. The new service will offer high-speed and wireless network access to employees and customers across their sites with 24×7 remote monitoring and management, the report adds.
Passenger Vehicles Up
The sale of passenger vehicles has surged 14.7 per cent to 2,77602 units in April, an industry body said.
The Society of Indian Automobile Manufacturers said that this increase could be linked to the economic growth picking up and the prediction of early monsoon.
Funds to be Raised
Bajaj Finance is planning to raise $150 million from the International Finance Corporation (IFC), according to reports.
The consumer and enterprise financing company will issue non-convertible debentures which will be subscribed by the IFC which would be used by the World Bank’s financing arm for on-leading to small and medium enterprises.
The base variant of Renault’s SUV Duster sold in India has failed a crash test conducted by Global NCAP, says a report.
The tests conducted by the UK-based vehicle safety group showed the model recorded zero stars for adult occupant protection. It revealed that that due to lack of airbags, driver injuries would be very high.
Focus on Cost Cuts
Telecom company Bharti Airtel is planning to reduce costs in a bid to take on the challenge posed by Reliance Jio Infocomm, a top company official said.
According to a report, company managing director (India and South Asia) Gopal Vittal also added that Airtel was aiming to gain a major share of the Indian 4G market with its data network. It also plans to spend $2.5 billion in capex to stave off competition from Jio, he added.
Online firms have focused more on exclusive products and brands for their big sales, says a report.
Amazon’s big sale offers deals on such products while Flipkart’s is doing the same, industry executives said. The brands are passing on their distribution savings directly to customers during such sales, they said. The brands also have a strategy in place for such sales so that they do not hit brick-and-mortar stores.
Salary Hike Delayed
Infosys has delayed salary hikes to July and for senior employees even later of the company, a report said.
The company, while playing down fears of job cuts, said that there may be some performance-based exits as done in the past, a senior official said.
Not a Load of Bull
A new form of renewable energy using a bull is being studied by Baba Ramdev and his associate Acharya Balkrishna from Patanjali, according to a report.
Research has been conducted for more than a year and the bull power has had initial success. A prototype has been designed and is currently being tweaked.