Besides Jeff Bezos-led Amazon, Walmart-owned Flipkart is also facing a threat from Asia's richest man and RIL chairman Mukesh Ambani, who is also betting big to grab a share of the country's e-commerce market.
The identity of the new investor could not be ascertained.
E-commerce major Amazon has written to Sebi yet again, apprising the market regulator of the formation of the arbitration tribunal at SIAC while urging it to suspend the review of the Rs 24,713 crore Future-RIL deal. It has also filed an appeal with the division bench of the Delhi high court against the December 21 order of the single member bench, according to sources.
The top five most trusted brands are Samsung Mobiles, Sony, LG, Nokia and Tata.
Another report by Oxfam had found that eight billionaires, including Bill Gates, from around the globe have as much money as the 3.6 billion people who make up the poorest half of the world's population.
How should one billion Indians, for whom deprivation has become an inescapable way of life, join us in celebrating 75 years of Independence? And where do we go from here? asks Kalyan Singhal.
'The BJP has shown signs lately of returning to its trader mindset.' 'Several strong emotions get meshed in this: Nationalism, protectionism, mercantilism, and arrogance,' points out Shekhar Gupta.
Pune-based entrepreneur's unlisted company is already the largest vaccine manufacturer in the world and the networth has been helped by vaccine distribution and manufacturing potential of his business, it added. Recentrly, Serum struck an agreement with AstraZeneca to manufacture 1 billion doses of coronavirus vaccine being developed by Oxford University.
India has the third highest number of billionaires in the world after the US and China, according to a new list by the prestigious Forbes magazine, which said Reliance Industries chairman Mukesh Ambani reclaimed his spot as Asia's richest person, dethroning Chinese business tycoon Jack Ma who was the richest person in the region a year ago.
As Indians scrambled to exchange the banned notes for new currency, Paytm, Sharma's digital payments startup, went on a promotional spree, inviting Indians to start using Paytm's digital wallet to pay for everyday goods and services.
Bill Gates specifically complimented India's Aadhaar identity system and the country's performance in the financial services and pharma sectors.
Walmart CEO Douglas McMillon came first in the CEOWORLD magazine's global ranking of the best chief executives across all industries for 2019.
Google's Larry Page has emerged as the 'business person of the year' for 2014, edging past the likes of Alibaba co-founder Jack Ma and Facebook CEO Mark Zuckerberg, according to Fortune magazine.
Its latest member is a Frenchman. Bernard Arnault's fortune is now estimated at $100.4 billion.
This was only four days after many aggrieved buyers chose social networking sites to attack Flipkart's 'Big Billion Day' discount this Monday (October 6), followed by an apology from the company's co-founders, Sachin and Binny Bansal.
The development of the constitution of the tribunal comes at a time when the Delhi high court in December 2020 refused to restrain Amazon from interfering in Future Retail's deal with Reliance Retail by writing to statutory authorities.
The order follows a complaint filed by Delhi Vyapar Mahasangh which accused the e-commerce firms of anti-competitive practices like preferential listing, exclusive tie-ups and private labels.
The caste census has already become a hot-button issue. Unless settled earlier, it will echo loudly in the coming assembly elections and eventually in the 2024 parliamentary poll, notes Virendra Kapoor.
Will space tourism with a niche market of serving only the uber-rich ever be profitable, asks Kumar Abishek.
Last year in January at Amazon's flagship event Smbhav, Infosys Co-founder N R Narayana Murthy had to shorten his keynote speech from 20 minutes to about five because the event was delayed by 1.5 hours. "I will try to finish it in five minutes, because I am not used to delays," said Murthy, while addressing hundreds of micro, small and medium enterprises (MSMEs) about building businesses that last. In the audience was Amazon founder Jeff Bezos. Murthy referred to Bezos' prediction that the 21st century will be the Indian century. "That confidence enhances our enthusiasm," said Murthy. The relationship between Murthy and Bezos dates to 2014, when Prione, a 49:51 joint venture (JV) between Amazon and Murthy's venture capital company Catamaran, was formed.
In India, Amazon has taken an open cheque policy by sinking in over $2 bn to grow its business and tried to build local innovations to help it score over local players Flipkart and Snapdeal.
The Chinese President dethroned Russian President Vladimir Putin as the most influential person on the planet.
Industrialist Mukesh Ambani remains India's richest person with a sharp surge of 30 per cent in his net worth to $26 billion.
The Orwellian surveillance State is here. And here to stay, asserts Virendra Kapoor.
The company announced the deal earlier on Monday, a move that would end the Graham family's 80-year ownership of one of the US' most influential publications.
Fortune's third annual 'World's 50 Greatest Leaders' list features men and women from across the globe from the fields of business, government, philanthropy and the arts who are "transforming the world and inspiring others to do the same."
Zara co-founder Amancio Ortega has toppled Bill Gates to become the world's richest person four times. A peek into the life of the 81 year old even Jeff Bezos can't keep up with!
Amazon also upgraded its 7-inch and 8.9 inch Fire tablets.
The new jobs - created both directly and indirectly - will be across industries, including IT, skill development, content creation, retail, logistics, and manufacturing.
Reliance chairman Mukesh Ambani has moved 2 ranks ahead this year on the most powerful list.
Pope Francis has been named Time magazine's Person of the Year for 2013.
Nadella has been ranked fifth among 50 global corporate heads by Fortune Magazine in its annual 'Businessperson of the Year' compilation, followed by CEO of Milwaukee-based maker of water heaters A O Smith Ajita Rajendra on the 34th spot, HDFC Bank's Managing Director Aditya Puri on the 36th position and Banga on 40th.
Three Indians - Mukesh Ambani, Azim Premji and Dilip Shanghvi - have made it to a global list of 50 wealthiest people that is topped by Bill Gates.
Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore to buy a 1.4 per cent stake in Reliance Industries Ltd's retail arm -- the billionaire Mukesh Ambani-led firm's third such deal in less than two days.
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
Amazon's fresh investment in its India entities come at a time when the Seattle-based firm has faced losses in several of its business entities in India, such as seller services, wholesale, transportation services and digital payments, for the 2018-19 financial year.
While the talks are still at a preliminary stage, sources said major retail players had held discussions with Amazon
'As the 1991 experience showed, the solution to a large trade deficit may be to open up the economy, not putting up protective walls,' points out T N Ninan.
Global e-commerce company Amazon has said it sees "substantial uncertainties" in interpretation of Indian laws, which could impact its business in one of the world's fastest-growing multi-billion dollar online shopping market.
The case may drag for a few years, experts say, as CAIT and DVM have said they will appeal against the interim relief granted to Amazon.
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