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Zhou-Qunfei, an entrepreneur from China is the richest self-made woman worth 7.8 billion dollars.
She had to take up a job in a factory at the age of 16 when her mother died. She made glass covers for smartphones.
2018 has a list of record 255 women who are the self-made billionaire, forming 67% of the list of which 72 self-made women are really worth emulating.
Infamy Nirav Modi flees to the United Kingdom, finding ways to seek political asylum based on Indian and British rules for an asylum. British officials have not sent out any official disclosure about the arrival of Nirav Modi in London, the fraudster is on the run seeking help to avoid extradition to India. On cheating the Punjab National Bank over 2 billion.
India's National Airliner- Air India's disinvestment process has been on the radar for some time as the debt-laden has no bidders to put their neck into the infamous national carrier. Mr.Suresh Prabhu, Civil Aviation Minister said that the future of Air India will be decided by the group of Ministers, other options would be discussed by the AISAM- Air India Specific Alternative Mechanism headed by Union Finance Minister Arun Jaitley.
Flipkart owned digital payments start-up had overtaken paytm to become the largest consumer payments company in the country in terms of total payment volume(TPV). The Bangaluru based firm had hit $20 billion in TPV annual run rate, making it the largest player in terms of transaction value. Phonepe had also crossed 100-million user mark.
“That is what we believe based on the understanding we have... we are the largest consumer payments [company] in the country today,” said Rahul Chari, co-founder and chief technology officer of PhonePe.
IndiGo brings back the fuel surcharge due to the rising of oil prices and aviation turbine fuel (ATF). The surcharge will be applicable on domestic trips and it will be effective from the midnight of May 29, 2018. Passengers will be levied Rupees 200 on routes less than 1,000 km and Rupees 400 for routes longer than 1,000 km. Aviation experts say that it is possible that other airlines may follow the decision.
IndiGo.
The issues of the proposed mega free trade deal will be discussed soon by the Chinese officials in a visit to India. The discussions started in Cambodian Capital Phnom Penh in 2012. Mega-regional trade deals are a fragile global economy. These trade deals are seen as a means to insulate economies from market uncertainties in an environment of falling aggregate demand. The mega-deal aims to cover goods, services, investments, economic and technical cooperation, competition and intellectual property rights.
The looming trade war between U.S.A and China has been put on hold. Markets rose after the US said it reached an agreement with China to ease trade imbalances between the world’s two largest economies.
The Treasury secretary, Steven Mnuchin, said on Sunday that “We’re putting the trade war on hold, right now, we have agreed to put the tariffs on hold while we try to execute the framework, We have made very meaningful progress and we agreed on a framework”.
The printing of 500 rupees notes has been ramped- up to about 3,000 crores every day to take care of the extra demand, Economic Affairs secretary Subhash Chandra Garg said. He said the cash situation in the country was "quite comfortable" and the extra demand was being fully met.
-courtesy by "The Hindu"
Oil and Natural Gas Corporation Limited is going to increase the oil production by 17% and gas output by 24% from 2019 as it starts to commercially produce petroleum from deepwater block in the Krishna Godavari(KG) Basin.
Sashi Shankar, ONGC chairman said”We have seen around 7% growth in gas production in 2017-18 over the previous year.We will increase oil production by 17% and gas production by 24% from 2019 onward, in a phased manner.”This development happened when oil production hit a 7 year low while gas production increased after 6 years.
The Securities Appellate Tribunal(SAT) has asked The Securities and Exchange Board of India(SEBI) to review the regulations for underwriting of a public issue.This model agreement was framed in 1993 and has in operation since then.
In underwriting,the merchant banker gives an undertaking when an initial public offer(IPO) remains undersubscribed and the banker can subscribe to unsold shares.The underwriting clause which is mandatory in all SME IPOs, ensures the issue will not fall down because of the low demand from the investors.
Google now informed that they will monitor startups that deals with the local problems of India.The “solve for India” programme is now enacted to deal with problems in fields like agriculture,healthcare,retail and education by utilising artificial intelligence(AI) and machine learning(ML).
This programme was introduced last year to bring out the best of Google expertise across product and user experience design and interface by accessing technologies like AI and ML.
The US has imposed an additional tax on Indian steel and aluminum, India would file a trade-dispute with WTO against the U.S if it fails to grant exemption on the metals.
"India has no other choice to seek exemption citing discrimination by the U.S if they refuse to grant the exemptions", stated by the Indian representatives at New Delhi. The Indian government has submitted a proposal to the U.S government which is pending in the court.
"India is absolutely core market, now, in near future and next decade, Uber's success is hardcoded to India's success. We are doubling down on our investments in India like never before", Barney Harford, Chief Operating Officer 'Uber', who is on a visit to India.
'Uber' services have established their network in most of the Indian Cities, India is one of the top three markets for Uber in the world.
Indian Domestic air traffic carried 9.04 million passengers in 2016-17, it went up by 28 percent taking the passengers movement to 11.5 million in 2017-18, according to the data by Director General of Civil Aviation, New Delhi.
The overall growth in the air traffic by 28 percent is the reflection of affordability and connectivity throughout length and breadth of India by and for the domestic passengers, which was unseen during earlier years. One of the reasons for the spurt of domestic tourism is the change of mindset of people intend to travel to new tourism destinations.
Indian Domestic air traffic carried 9.04 million passengers in 2016-17, it went up by 28 percentage taking the passengers movement to 11.5 million in 2017-18, according to the data by Director General of Civil Aviation, New Delhi.
The overall growth in the air traffic by 28 percentage is the reflection of affordability and connectivity, length and breadth by domestic passengers, which was unseen during earlier years. One of the reasons for the spurt of domestic tourism is the change of mindset of people intend to travel to new tourism destinations.
Surging demand for UV driving Cars in India: sales at a record.
The demand for the Utility Vehicles like passenger cars increased nearly into 21% to more than 9.21 lakh units during March & April. According to the data released by the Society of Indian Automobile Manufacturers (SIAM), this growth of domestic passenger vehicles cumulatively stood at 32.87 lakhs during the last year.
Yesterday nifty opened on a positive note and showed a consolidated trade throughout the trading. In the opening hour, nifty showed a gap up open around 10400 zones and closed flat. The open interest over 10400 PE has been increased with an eventual increase in open interest over 10500 CE. This is an indication that the Nifty would be in a range of 100 points in the forthcoming days of trading. At the closing bell, the BSE Sensex stood higher by 92 points (up 0.3%) and the NSE Nifty closed up by 23 points (up 0.2%).
India's Maruthi Suzuki Alto cars sold have exceeded the landmark 3.5 million, making it the most popular car among the middle-class Indians. Its modern design, cost of the vehicle and good mileage, make it the most popular car for 14 consecutive years.
It has two versions Maruthi 800 and K-10 version in 2014. AGS or auto gear shift with two pedals system became a hit among the middle-aged. Hatchback models of Suzuki have remained popular and affordable since its inception in 2000.
No more a poor country, India in producing billionaires, Mukesh Ambani leads Indian's list of ultra-rich, worth 40 billion US Dollars. 19 billionaires added to the list making it to 121 this year. Forbes prepared the latest, the list is published every year.
It is unlikely that US administration would back off the H 1B spouse's work permits of high-skilled workers from a foriegn country may not lead to any change of plans till the end of the program
"I am too busy with my business," says Nirav Modi to the summons issued by the Central Bureau of Investigation. The audacity of the person to the summons in his reply gives enough hint of long drawn battle to bring him to books by the Indian government.
CBI had sent the summons through emails to Nirav Modi.In reply he has not even mentioned the country he is in and doing business, simply a vague reply he is too busy with his business abroad, hence unable to join the investigation team.
Central Cabinet is to bring a farmore stringent law against the economic offenders fleeing the country without repaying the huge loans taken by them.
This bill is conceived after Nirav Modi and Mehul Choksi, their companies cheated Rs.12,622 crores, fleeing the country without repayment of the loan made the government wake up.
