Boost for Startups:
A new subsidiary has been set up by the Pune Smart City Development Corporation (PSCDC) which will be a big boost for startups in the city.
The Pune Idea Factory Foundation (PIFF) will be a one-stop-shop for startups and will address all issues related to them. Maharashtra Chief Minister Devendra Fadnavis wants to make Pune the number one destination for startups by 2020.
IT Industry at Crossroads:
New restrictions on travel and immigration by major overseas markets will force IT companies to come up with new strategies to do business, it was reported.
The curbs on IT engineers will disrupt the outsourcing model which has been an engine of growth over two decades. The US and UK account for more than 60 per cent of Indian IT services revenues.
Mumbai branch:
A top global boutique merchant bank is planning to open an office in Mumbai as part of its expansion plans, it was reported.
The Raine Group, which focuses on technology, media and communications, has hired former UBS investment banking head Gaurav Mehta as its managing director for India. The group has played a vital role in major global deals.
Connoisseur Edition:
A connoisseur edition of its flagship model S Class has been launched by top German carmaker Mercedes-Benz.
It is priced at Rs 1.32 crore, ex-showroom Pune. The new car is available in both the S 350d and S 400 at Rs 1.21 crore and Rs 1.32 crore ex-showroom Pune respectively, says a report.
Fund-Raising Plan:
Online grocer BigBasket is in talks with investors to raise Rs110-Rs150 million for its expansion plan.
The firm plans to boost its warehousing and cold chain facilities. The new fundraising will double’s BigBasket’s valuation to nearly $1 billion, says a report.
Ticketing Offices Shut:
Abu-Dhabi-based Etihad Airways has shut its ticketing and reservation offices in India, according to a report.
The shutdown of the 11 offices comes in the wake of the airline pulling out the A30 Superjumbo from its operations to India. It will be replaced by the A340. The airline asked its customers to contact through its 24×7 call centre or visit its website etihad.com for queries.
Amazon Tops Offers:
Amazon is the top recruiter in the final placements at Tata Institute of Social Sciences (TISS) in Mumbai, a report said.
It offered a top salary of Rs28.5 lakhs a year. About 65 students from the two-year post-graduate programme in human resource management and labour relations participated in the placements.
Career Over Ethics:
At least 41 per cent of Indians would be prepared to forego ethics in pursuit of career enhancement or to enhance their salaries, a survey found.
The EY survey said uncertainties in the work environment, financial pressures and the desire to achieve unprecedented career growth was one of the main reasons for such behaviour. A total of 44 per cent of Indians said they would not report a fraud, bribery or corruption if it helped their careers. About 32 per cent said it was acceptable to offer cash payments to win business.
Call Drop Review:
The Telecom Regulatory Authority of India (TRAI) is planning to issue revised parameters for quality of service to improve the call drop situation in the country.
The new parameters will take into account the new technologies being used for voice and data services at a granular level in order to boost services, a report said.
Limited Appeal:
Though social media advertising has a high reach in India, when it comes to brand impact, it has lower capability to appeal to the age group 20-45 years, according to a report.
The Kantar Millward Brown survey finds that social media drives better reach and brand impact for those in the age group 15 to 19. The report said that television remains the best medium to gain impact over all age groups.
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