Flipkart has named Amar Nagaram as the new head of Myntra and Jabong : Bulletin: Business Today
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Flipkart has named Amar Nagaram as the new head of Myntra and Jabong

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January 15, 2019

India's first electric taxi service launched in Delhi-NCR

Gensol Mobility said it has launched India's first electric vehicle (EV) taxi fleet, BLU-SMART, in Delhi-NCR with about 70 cars that will be ramped up to 400 vehicles by the end of March 2019. The company, which is in talks with various car companies such as Tata Motors, Mahindra & Mahindra and Nissan for procuring EVs, has also invested over Rs 50 crore to set up charging infrastructure in various parts of the city.

Govt working on new policy to provide credit guarantee, interest subsidy on loans for electronic manufacturers

The government is considering credit guarantee for term loans of up to Rs 100 crore as well as interest subsidy on loans up to Rs 1,000 crore for electronic manufacturing companies under the new policy in works. According to the proposal, the government will provide up to 50 per cent guarantee cover of the sanctioned loan amount, the source said.

'Right time to move on, Myntra's future is bright,' says outgoing CEO Ananth Narayanan

Flipkart-owned fashion retailer Myntra today announced the exit of its CEO Ananth Narayanan after speculations ranging for nearly two months. Flipkart has now named Amar Nagaram as the new head of Myntra and Jabong, who will be reporting to the group CEO Kalyan Krishnamurthy. Amar, who recently moved to Myntra, is a Flipkart veteran, who has donned the roles of vice president, consumer shopping experience and director of mobile and web engineering

Ola raises $21 million from Sachin Bansal at a valuation of $5.7 billion

India's No. 2 most valued desi startup, Ola, has a new name among its impressive list of investors: Flipkart co-founder Sachin Bansal.Bansal has invested $21 million (around Rs 150 crore) in the cab hailing platform as part of an ongoing Series J round.

Govt launches eMarketplace initiative to enable women entrepreneurs sell products on its platform

The commerce ministry Monday said Government eMarketplace (GeM) has launched an initiative to enable women entrepreneurs and self-help groups to sell different products on the platform. The initiative - Womaniya on GeM - seeks to develop women entrepreneurship on the margins of society to achieve gender-inclusive economic growth

Apple sees worst performance since 2014 in India; iPhone sales dip up to 50%

At a time India is holding sway as one of the fastest growing smartphone markets worldwide, Apple's grip on the country seems to be slipping if its iPhone sales figures are anything to go by. From a 50% jump year-on-year to 2.6 million iPhone shipments in India in 2016, the past year saw the numbers plunging. Apple's India shipments are pegged at 1.6-1.7 million in 2018, up to 50% lower than the 2017 level.

Trump says trade deal with China likely

President Donald Trump said Monday he expects to be able to reach a trade deal with China, which is feeling the impact of US tariffs. Chinese officials said the next round of negotiations would be held in Washington between January 30 and 31. Trump and Chinese leader Xi Jinping agreed on December 1 to a three-month truce in the escalating spat.

PM to inaugurate Kollam bypass in Kerala today

Prime Minister Narendra Modi will inaugurate Kollam bypass, built at a cost of Rs 352 crore, in Kerala today. The project will ease traffic congestion around Kollam town and reduce the travel time between Alappuzha and Thiruvananthapuram.

OYO aims at 1mn rooms to become world's "largest" hotel chain

Hospitality firm OYO Hotels and Rooms on Monday said it is working on a roadmap for 1-million room inventory from the existing count of 4.6 lakh. This will help OYO to become the "world's top player from number three now", said Aditya Ghosh, OYO CEO, India and South Asia. The company has set a target of 2.5 million rooms by 2023, its promoter Ritesh Agarwal said.







 



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