Office Rentals Rise
Pune is third in lease rentals in the office property market, posting a growth of 7.1 per cent until March end this year, a report reveals.
Navi Mumbai came first and Bengaluru second in the JLL India study. The growth in Bengaluru and Pune office rentals is attributed to lower vacancy of 3.2pc and 5.6pc respectively. Property developers in both cities have not overbuilt commercial complexes in recent times and this move has helped them to get better rentals for existing assets.
More Skills Call
IT professionals must acquire new age machine learning skills to keep up with the use of open source tools which are dominating the analytical landscape, says a report.
According to the Bengaluru-based Jigsaw Academy, given the current scenario of layoffs in the IT sector, acquiring analytics skills will help the IT professionals secure their careers.
Setback for Startups
Unethical business conduct is a major cause for startups failing in India, according to a report.
An IBM study reveals that 64 per cent of 100 venture capital investors polled felt this was the main reason. However, industry experts and entrepreneurs claim that the failure of startups could be pinned down to poor corporate governance due to lack of experience.
Key Joint Venture
Indian retailer Future Group has signed an equal joint venture deal with Oman-based Khimji Ramdas Group to sell garments and grocery in the Gulf, according to a report.
The joint venture, KR Future Fashions, will open four to five Fashion at Big Bazaar stores in Oman beginning next year. The investment will be about Rs 75 crores. Future Group is also mulling possibilities to sell its own personal care and food brands in the UAE, it said.
HTC Plan
HTC is planning to unveil VoLTE smartphones in the second half of this year in a bid to make a mark in the Indian market, says a report.
The new phones, under the Device range, will be priced above Rs 10,000. The firm feels that India is a strategic and growing market for its smartphones.
Esprit Eyes Stores
Hong Kong-based fashion brand Esprit is planning a comeback into India by opening brick-and-mortar stores in the country, says a report.
Esprit exited India some four years ago amid weak sales. Now it is in talks with online fashion retailer Myntra to open Esprit stores. The two firms already have an online deal.
Growth Push
Shoppers Shop is seeking to boost growth through a stronger online presence as slowing sales bites into its growth, according to a report.
The online move will be driven by exclusive brands and private labels, it said. The company also posted weak fourth quarter results.
GM Factory to Operate
General Motors (GM) will continue production in India at its Talegaon facility near Pune despite its plan to stop all sales of vehicles in India, says a report.
Vehicles made at the Talegaon facility will be exported to Central and South American markets, according to the company. The Detroit-based carmaker was forced to pull out of the Indian market after failing to make a mark two decades after its entry.
LG Going Online
LG Electronics is planning to go online with its TV, refrigerator and washing machines by selling it exclusively on its e-commerce portals, according to a report.
The company will also add smartphones to the list. The South Korean giant is seeking to partner Amazon, Flipkart and Paytm under its sales strategy.
Cheaper Phones
Consumers can expect more discounts from mobile phone companies before the rollout of the Goods and Services Tax (GST), according to a report.
These companies will seek to dispose all their old stock at lower prices because mobile phone prices are set to climb 4-5 per cent after the GST comes into force.
Firms join Facebook
About 800 Indian companies have joined Facebook’s workplace version, putting the country in the top five for the enterprise communication app, says a report.
Workplace by Facebook is a subscription product unlike the advertising-led revenue model. Bharti Airtel, Godrej and Jet Airways are among the many companies to sign up.
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