Future Retail on Saturday said it has missed the due date for payment of Rs 3,494.56 crore to banks and lenders as it could not sell assets due to its ongoing litigation with amazon, impacting its monetisation plans. Future Retail had last year entered into a one-time restructuring (OTR) scheme for COVID-19 hit companies with a consortium of banks and lenders and was to discharge "an aggregate amount of Rs 3,494.56 crore" on or before December 31, 2021. Kishore Biyani-led Future group firm would be "co-operating for completing the monetisation of the specified business within next 30 days" as per directions of the banks to resolve the current situation, said a regulatory filing by Future Retail.
Future Retail Ltd (FRL) on Wednesday said it is "committed" to reversal of takeover of its stores by Reliance Retail and will take all such action as may be necessary to seek value adjustments. The Kishore Biyani-led firm also said the action of the Reliance Group has come as a "surprise" to it. Moreover, the action of taking possession of its stores has "complicated" the positive scenario which had started building up after a CCI order in December 2021, FRL said in a regulatory filing.
Because summer is already upon us!
According to eBay, the percentage of transactions during the festival season declined marginally in Delhi, Mumbai, Bengaluru and Chennai.
This is all you need for your summer fashion fix.
'Umran is a super exciting talent. Seeing him in the Indian international scene is an amazing rise'
The two obvious best choices are to combine OTT viewing time with some good eating, because Joe, Rishi and Co don't have to be the only ones dining well.
As the second season of The Night Manager hits the OTT screen, Deepa Gahlot looks back at the top spy thrillers on streaming platforms.
The company has pointed at the possibility of fines and financial penalties.
E-commerce firms and sellers including Amazon and eBay have made recommendations to the government for a differentiated policy framework for e-commerce in the revised Foreign Trade Policy (FTP) which is expected to come into effect from April 1, 2021. This is because the existing policies on exports have catered largely to traditional, offline and business-to-business exports. Suggestions have been made to the government that through the FTP, it is important to create a conducive policy framework for e-commerce exports that lowers the entry barrier for small businesses to start exporting, according to the industry sources.
Food delivery apps Zomato and Swiggy reported a nationwide outage on Wednesday. Both the platforms witnessed technical glitches and were unresponsive for almost an hour. Downdetector, a platform that collects status reports from a series of sources, recorded about 3,619 reports of outage against Zomato at 2:05 PM and about 771 reports of outage against Swiggy at around 2:21 PM. According to the sources, the outage was caused by Amazon Web Services (AWS), a cloud-services platform, which runs both platforms. Though Swiggy and Zomato are working now, some customers reported that the issue has not been solved completely and they are not able to place orders and there are payment related issues.
Cultivate a thirst for knowledge, explore online courses, attend workshops and network with peers. Embrace opportunities to learn new skills and stay updated about industry trends to remain relevant and future-proof your career, advises Manu Saigal, director-general, staffing, Adecco India.
PhonePe said on Tuesday it has launched a service that will allow the fintech firm's Indian users traveling abroad to pay foreign merchants using Unified Payments Interface (UPI). 'UPI international' supports merchant outlets in UAE, Singapore, Mauritius, Nepal and Bhutan that have a local QR (quick response) code. Users will be able to make direct payments in a foreign currency from their Indian bank, like they do with international debit cards.
The government on Thursday said 18,600 toys have been seized in the last one month from major retail stores, including those of Hamleys and Archies, at airports and malls across India for lack of BIS quality mark and use of fake licences. Meanwhile, consumer protection regulator CCPA has also issued notices to three major e-commerce players -- Amazon, Flipkart and Snapdeal -- for alleged violation of toys quality control order, it said. Since January 1, 2021, the government has made it mandatory for toys to conform with safety norms specified by the Bureau of Indian Standards (BIS), a national standard setting body.
'A lot of what you see on screen, particularly the night of the massacre, is pretty close to what really happened as it is based on survivor stories.'
Some companies are already seeking review of the new norms.
Every competitor is eyeing the top slot that Flipkart holds.
'We audition for 99 projects, and get rejected 98 times!'
As of December 2021, Netflix India stood at an estimated 5 million subscribers against 46 million for Disney+Hotstar and 19 million for Amazon Prime Video.
Who rocked the designer's creation better -- the model on the ramp or the celebrity off the ramp.
The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65. She is the second woman to serve in an 'economic regulator' role after Madhabi Puri Buch, who was appointed chairperson of the Securities and Exchange Board of India last year and the first woman to head the country's chief national competition regulator.
A day after getting permission to raise its Unified Payments Interface (UPI) user base to 100 million, WhatsApp on Thursday said it has plans to make significant investments in 'payments on WhatsApp' across India, including India-first features and driving adoption. The company, however, did not share details of its plans. The Meta-owned messaging app got its first greenlight for its payments service from the National Payments Council of India (NPCI) in November 2020 with a cap of 20 million users. A year later, in November 2021, the limit was raised to 40 million users.
'New bunch, new guys with a lot of excitement and energy'
The expansion into smaller towns is coming at a time when the online retail space has not only seen consolidation but is actually looking to collaborate with physical stores. Abhineet Kumar reports.
Action, drama, thriller and rom-coms, this week has a lot of entertainment coming up on OTT as well as in theatres.
Reliance Jio has suggested an alternative plan to the The Telecom Regulatory Authority of India (Trai) under which spectrum required by non-geostationary orbit satellite (NGSO) operators to run their gateway terminals should be auctioned geographically, based on districts, rather than circles as done for mobile services. For spectrum which would be required to connect user terminals (like individual homes), Jio has suggested it should be auctioned frequency-wise and exclusively to an operator at a pan-India level. The move is significant as the auctioning of satellite space spectrum has been vehemently opposed by low earth orbit satellite operators (satellites which circle at low altitudes of 200-2000 km).
Walmart is rumoured to be looking to listing Flipkart in a few years. At that stage, we'll get a better sense of what's going on in retail, says Devangshu Datta.
E-commerce firms like Amazon, Flipkart, Myntra and others witnessed successful festive season sales this year, Experts say e-commerce adoption in the country is accelerating by multiple years or what it would have looked like in 2025.
Joginder Tuteja looks at the 10 Web series and movies (in alphabetical order) that have made the most impression.
Oscar tips for Priyanka Chopra!
Promising new seasons of beloved shows, provocative stories and action packed dramas, Sukanya Verma says it's all there on OTT this week.
Blockbusters of the year, serial killer of Bollywood movie critics, goth teen queens discovering psychic powers and Groot in holiday mood, it's all there on OTT this week.
The launch of Koel Puri's Clearly Invisible In Paris, in Mumbai, last Friday, revealed Suhana's star power.
Will open radio access network technology (O-RAN) disrupt the way 5G networks roll out in the country? After all, it promises to offer a substantially lower capital cost, enables the choice of an array of vendors, and provides more network flexibility - all very important for telcos who expect to invest over Rs 60,000 crore to roll out a pan-India 5G network and that's without spectrum costs. But more importantly, it counters the stranglehold of global telecom gear makers such as Ericsson, Nokia, and Samsung over telcos to whom they sell propriety technology and bundled hardware and software.
The second season of Raj and DK's popular Web series will now be aired in June!
The FDA Maharashtra on Friday lodged an FIR against Snapdeal.
For those who enjoy stand up comedy, Comicstaan 3 makes amusing viewing, enough to lift the monsoon gloom, applauds Deepa Gahlot.
