Alibaba founder bats for easier rules for e-commerce

Jack Ma, the founder of global e-commerce giant Alibaba, has urged WTO members to facilitate adoption of easier rules for e-commerce globally. Speaking at the 11th Ministerial Conference of the World Trade Organisation (WTO), Ma emphasized the imperativeness of simpler rules as it would help in mainstreaming of small businesses. “E-commerce is future…it is the solution for small business,” he said. He categorically stated that e-commerce policies need to be significantly improved to make it more inclusive. “The problem with globalisation is that its benefits have not been made available…

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Allcargo chief hints acquisitions to touch Rs 12000 cr topline

In an exclusive conversation with ET Now channel on wedenesday, Allcargo Logistics chief Shashi Kiran Shetty has indicated a spate of acquisitions in the near to medium run to touch a topline level of Rs 12,000 crore by 2020. The company is expecting to clock a turnover of Rs 6500 crore at the end of the present fiscal. “In future, both organically and inorganically, — in our existing business and also diversify into more products offering in the global market by getting into the full container load business and the…

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FedEx Delivery Manager launched in India

FedEx Express has launched FedEx Delivery Manager in India. The new interactive e-commerce delivery solution allows retailers to provide extra flexibility to their customers in India by allowing them to customize the timing and location of their deliveries at no extra cost. Recipients expecting deliveries to their residence will receive a notification by email from FedEx when their package is shipped. The recipient can choose to change the delivery instructions in a few simple steps via a secured website. This is available for both international and domestic shipments. “E-commerce, is…

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Asian Paints expect demand improvement in second half

Paint major Asian Paints is expecting better demand conditions in the second half of the current fiscal. According to a news agency report, the company which is slated to invest Rs 5000 crore in new expansion plans, has maintained in its investor presentation that the second half would not be as challenging as the first half of the current fiscal wherein sluggish demand condition was the key trend in the market. “There are signs of some recovery towards the latter part of FY18. Coupled with a good monsoon and settling…

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OBOPAY secures a pre-paid instrument license from RBI

OBOPAY, the global mobile payment solutions company, has secured a license for Prepaid Payment Instrument (PPI) from the Reserve Bank of India to operate a semi-closed loop wallet in the country. The company will also be using the license in propelling the business in its B2B operations by co-branding the prepaid instrument with a partner brand. Using the PPI license, OBOPAY will solve various payment related problems for their partner clients – bringing efficiency and transparency to the payments process, improving reporting, and reducing turnaround times for funds transfers. Commenting…

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MCX – SLCM to ensure smooth delivery of Mentha Oil Stock

Multi-commodity Exchange of India Ltd. (MCX), the Exchange and Sohanlal Commodity Management Pvt. Ltd. (SLCM), the Warehouse Service Provider (WSP) have amicably resolved their differences on the terms of continued storage of Mentha Oil stock at SLCM Warehouses. “MCX and SLCM would hereby like to clarify that they are committed to resolving any outstanding issues. It is also clarified that in the meantime there will be no hindrance or impediment in lifting of Mentha Oil stocks from SLCM Warehouses or the deliveries thereof on the MCX Exchange platform as per…

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NHAI targeting to construct over 3500 km in the current fiscal

National Highways Authority of India (NHAI) has invited bids for projects of 4,900 km till November, 2017, while bids for another 3,500 km are likely to be invited by December end, taking the total upto 8400 km. Further projects for bidding during Jan-March, 2018 will be identified around the 4th week of December , 2017. Projects costing Rs. 22,100 crore and covering 1170 Km have already been awarded so far. In FY 2017-18, NHAI has completed 1566 km length of the projects under implementation till November, 2017 (5,060 lane km).…

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DCI-NHAI join hands to facilitate supply of sand for highways construction

An MoU was signed between Dredging Corporation of India (DCI) and National Highways Authority of India (NHAI) early this week for facilitating the supply of sand for highways construction work. Concessionaires working on highways projects have been facing a shortage of sand at many sites. The MoU aims to fill this gap by facilitating the availability of sand for these concessionaires. DCI intends to do dredging operations at locations in South East Asia, generating large volumes of sand. This dredging will be done for the purpose of obtaining sand. As…

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Lufthansa Group airlines change rules for Miles offering

The airlines of Lufthansa Group are changing how award miles are credited to participants in the frequent flyer and reward program Miles & More. Beginning in March 2018, the number of award miles that are credited will be based on the price of the flight, i.e the price of the ticket plus any additional fees charged by the respective airline, and on the frequent flyer status of the participants in the program. Under the old system, booking class or rather booking class and the length of the route determined the…

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After 47 years, Walmart goes back to its original name

Global retail giant Walmart has decided to adopt its original name Walmart Inc. replacing the existing name Wal-Mart Stores. Billed as a legal course correction, the move is believed to be company’s way of telling its millions of consumers across the globe that it is not only restricted to stores selling but has formidable omni-channel presence including online. The change in name will become effective from Feb. 1, 2018. “Our customers know us as Walmart and today they shop with us not only in our stores but online and with our…

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