June 23, 2015 - ICICI Bank, Alibaba join hands to offer easier trade finance for Indian SMEs

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Digital ICICI Bank, Alibaba join hands to offer easier trade finance for Indian SMEs ICICI Bank, India's largest private sector bank, has announced its association with Chinese e-commerce giant Alibaba.com for the launch of a trade facilitation centre, a single window facility to provide easier trade finance to the small and medium enterprises (SMEs) in India. Digital Mumbai-based food tech startup Holachef raises Rs 20 crore from Kalaari Capital and India Quotient Holachef, an online restaurant which brings cuisines right to user's doorstep, has raised $3.1 Million (INR 20 crore) in fresh round led by Kalaari Capital. Existing investor India Quotient also participated in this round. Digital Online education services marketplace EduKart.com raises $1 million from Yuvraj Singh and United Finsec The Delhi-based startup will use the proceeds from the latest round of fundraising–– which also saw Dave McClure-led seed stage accelerator and fund 500 Startups invest in the venture. Digital Online recruitments startup Belong gets $5 million from Matrix, Snapdeal founders Looking to tap into the online job opportunity market, Belong has raised a US$5 million round led by Matrix Partners. Blume Ventures, and leading angels like Snapdeal co-founders Kunal Bahl and Rohit Bansal, with redBus co-founder Phanindra Sama also participated in the funding round. Retail Flipkart set to boost its GMV to Rs 76000 crore in 9 months to a year Indias most valuable online marketplace is adding high-margin categories such as furniture, homes and travel booking and sharpening its strategy. Retail What's The Hold Up For IKEA Stores In India? The Swedish retail giant IKEA entered India 28 years ago to source products for their stores around the world. But they still don't have a storefront presence in the country – and don't anticipate one until 2017. So what's the hold up? Retail Amazon turns down Karnataka Tax dept's reworked formula While Amazon has no problem with the first demand, it has declined the second, senior government officials said, declining to be identified. Retail 21% of retail sales influenced by digital: Deloitte report A Deloitte report has found out that retail sales in brick-and-mortar stores are increasingly getting influenced by e-commerce, thanks to Internet and smartphones. Telecom Intense competition has helped Indian telecom users enjoy some of the world's lowest tariffs Auctions have raised prices of spectrum to unacceptable levels. This is bound to hurt rollout if the auctions are designed to maximise revenues instead of consumer good Telecom Reliance Jio's news a sentimental booster; much more hinges on crude prices fluctuations ​I really do not see global oil prices increasing very significantly because of global growth remaining anemic, says Hazari. Telecom RCOM, MTS India merged entity will have third largest mobile Internet users base Reliance Communications (RCOM) and the Indian telecom business of Sistema Shyam Teleservices Ltd (SSTL), MTS India, recently entered into discussions for a Telecom SoftBank, Foxconn mulls electronic manufacturing joint venture for India Foxconn will lead the new joint venture while SoftBank will support the former for the same, Masayoshi Son, Chairman & CEO of SoftBank told ET. Finance SoftBank, Bharti & Foxconn join hands for renewable energy JV; may invest $20 bn SoftBank owns majority stake in the JV. Finance Lenders including Bank of India ask Sakthi Sugars to sell assets or equity to repay debt The move comes in the backdrop of the Reserve Bank of India nudging banks to leave no stone unturned in recovery of dues. Finance How smart brokers are diversifying income into new businesses Smart ones have diversified earning 70% of their income from new biz like loan against property, gold refining and health cards. Finance RBI opposes finance ministry plan to use gold deposits as bank CRR Gold as CRR will weaken its effectiveness as monetary policy tool and may expose RBI's reserves to risk from commodity prices, RBI has told finance ministry. Food/FMCG Does HUL need to fret over the Maggi fiasco? Packaged foods is a fast growing promising category for HUL. The segment delivered a strong 15 per cent turnover growth last financial year. Food/FMCG Future Group, Reliance Retail ask food companies to deliver products within 5 days of manufacturing Products usually take an average of at least 10 days to reach store shelves from the plants, except for perishables such as dairy products. Food/FMCG In a re-birth, Future Group to transform into FMCG major Kishore Biyani's three-pronged strategy targets ₹20,000-cr sales from consumer products by 2021 Food/FMCG Why diversification alone won't be enough to perk up Tata Global Beverages Tea remains its main business, contributing 75% of its revenues, coffee earning around 18% and water and plantation businesses adding the rest... Software Why India's traditional outsourcing companies may fall behind in developing tech ? Outsourcing companies were the pioneers of India's technology industry but they aren't using acquisitions to add much-needed new technologies to their arsenal. Software Vishal Sikka shows tremendous respect for Infosys co-founders : Hails them for coding an iconic company Seven co-founders of Infosys Ltd, led by N.R. Narayana Murthy, were hailed for their singular contribution in coding an iconic IT behemoth by its first non-founder chief executive Vishal Sikka. Software Hello Curry acquires tech start up firm Fire42 to compete with bigger rivals Hello Curry acquires tech firm Fire42. City-based fast food chain Hello Curry has acquired technology startup, Fire42, for in a cash and stock deal an undisclosed sum. Also based out of Hyderabad, the three-year-old firm developed cloud and mobile-based restaurant management systems. Software Tech professors turning entrepreneurs : IITs become fertile ground for faculty startups Dozens of faculty members from IITs in Bombay, Delhi, Madras, Kharagpur and Hyderabad are working on startups either by themselves or with students. Ecommerce Amazon turns down a workaround offered by Karnataka's Commercial Taxes department to end the year-long deadlock over its tax woes in the state While Amazon has no problem with the first demand, it has declined the second, senior government officials said, declining to be identified... Ecommerce Former Myntra senior executives' Treebo raises $6 million in their first round of funding co-led by Matrix Partners India and SAIF Partners Former Myntra senior executives Sidharth Gupta and Rahul Chaudhary, along with Kadam Jeet Jain, who founded the branded budget hotel chain Treebo earlier this year, have raised $6 million, or Rs 38 crore, in their first round of funding co-led by Matrix Partners India and SAIF Partners. Ecommerce Snapdeal partners with the Himachal government to launch a 'special e-commerce zone' for facilitating sale of local handicraft and other products Snapdeal will set up an online store dedicated to local handicrafts and traditional products made by artisans of the area. Franchise Franchisee Journey: From Division 3 baseball back to Slim Chickens franchisee Franchisee Bill Hooks says he's learned that you coach restaurants, you don't really manage them. HR Here's what Infosys is doing to better engage with its employees Infosys has started to seek feedback from its trainees in a bid to make itself a better employer, starting from its Mysuru campus where all its recruits are trained HR Panel Headed by Rajan Shortlists 11 for PSU Banks Managing Director Post It is expected that the Cabinet headed by Prime Minister Narendra Modi may finalise names of five successful candidates in a month or so, after requisite procedures are fulfilled, sources said. HR Odisha aims to create 3 lakh jobs in next four years The Odisha government has set up an ambitious target of generating three lakh jobs in the next four years by boosting manufacturing sector. "Chief Minister Naveen Patnaik has asked the Industries department to prepare a road map aiming generation HR Snapdeal launches India's First Special E-commerce Zone from Himachal Hill PostAcknowledging the efforts taken Virbhadra Singh said, "I am delighted that Snapdeal has taken the initiative to create employment and entrepreneurial opportunities by creating a special e-commerce zone. Logistics Indian Railways to arrange special trains for illegal Bangladeshi immigrants to go back to celebrate historic cricket win with their loved ones; 2 trains daily with tatkal reservations The historic win of Bangladesh over India has sent a wave of euphoria among the illegal Bangladeshi immigrants in India, many of whom now wish to celebrate with Logistics Indian Railways has a strategic shift of mind: Loco-free Train Sets to be Maintained by Private Player Indian Railways has already floated global tenders for the Rs 2500 cr project involving procurement-cum-maintenance contract for 15 Electrical Multiple Unit (EMU) Train Sets. Logistics Indian Navy rescues crew off India after night long battle to save ship; 9107 dwt general cargo vessel, Jindal Kamakshi Indian crew of general cargo vessel airlifted off sinking ship by navy helicopter after night long battle to save vessel Logistics 'Civil aviation, railways have potential for Russia-India cooperation' Russian companies have felt echoes of the "Make in India" concept with the economics minister saying that the Rusian government was in the process of "modernising the intergovernmental agreement to encourage and mutually protect investments." Construction Unrealistic aspirations and poor execution put India's infrastructure on high debt Financial Times India infrastructure: Built on debtFinancial TimesWhat was meant to be the crowning achievement of Jaypee Group and Jay Prakash Gaur, its 85-year-old patriarch, has become a monument instead to unrealistic aspirations and poor execution on the one hand and a shortfall in growth, the high cost of Construction Steep cost of construction puts kedarnath construction a costly affair Agency Involved In Reconstruction Purchasing Tile & Brick Making Machines To Keep Costs Down Construction Constructing green buildings are technically feasible and economically viable, Many hotel developers are going green way 'Constructing green buildings are technically feasible and economically viable'HospitalityBizIndiaSome of the key drivers for hotel developers to go the green way, include, significant reduction in operating costs right from day one, enhanced brand image and reputation, growing preference of guests for eco-friendly hotels. Today, hotels in India Construction New condition for private steel, cement companies to participate in coal auction Ministry is considering restricting cos from bidding for coal more than 100% of their plants' needs... Marketing Out of Home is the New Indoor by Rajesh Chakrabarti, Ex CMO & Chief Innovation Officer, Reliance ADAG : DMAi Video From Outdoors to OOH has been an interesting and insightful journey for this industry. Come hear & learn from experts what it takes to continually strive for product level innovations beyond the mundane to stay alive and kicking and the extremely exciting cross play of creativity, innovation and design that will decide its future from here! Lets hear it from Nabendu Bhattacharya, MD & CEO, Milestone Brandcom and Rajan Mehta, Founder and CEO, LiveMedia exclusively at #DMAi Screen at #GMAW15 Marketing Facebook eating into YouTube's video ads pie : Report Facebook is gaining ground on Google's YouTube as an outlet for big companies to market their products via online videos, the fastest growing category of internet ads. Marketing AirAsia Faces Red Tape and Tough Competition in India : Report New York Times AirAsia Faces Red Tape and Tough Competition in IndiaNew York TimesAfter its first year in operation, AirAsia India has just 1 percent of the country's domestic passenger market, and the carrier is retooling its strategy. While initially focusing mainly on smaller, underserved cities in south India, the airline has Politics Lalit Modi Visa Controversy: Nitin Gadkari Meets Vasundhara Raje, Says BJP 'Strongly Supports Her' JAIPUR — Amid the raging row over Lalit Modi's linkages with Rajasthan Chief Minister Vasundhara Raje, Union Minister Nitin Gadkari on Monday met her in Jaipur and said the BJP and the Uni Politics Lanka opposition asks government to act on US report on LTTE Politics NDA alliance RLSP wants quick call on CM candidate for Bihar Politics Mumbai Hooch tragedy: Congress demands Excise Minister Eknath Khadse's resignation Sports Mustafizur Rahman: Boy with posters to poster-boy The jubilant Bangladeshi press corps were hanging about in the lobby trying to get hold of the players on Monday morning. Sports Causes of Bangladesh series loss in post-mortem report: Fatigue, IPL, lack of coach The administrative manager for the series Biswarup Dey is likely to highlight these three issues in his report to BCCI president. Sports Finch hit on chest, taken to hospital Aaron Finch was taken to hospital after been hit on the chest by a delivery while playing for Yorkshire's 2nd XI on Monday Sports India coach should not be appointed in a hurry, says MS Dhoni Dhoni said that the BCCI must not get itself into a hurry for finding a brand new coach for the national team. Entertainment Varun Dhawan's 'ABCD 2′ is the highest opening weekend grosser, collects Rs. 46.35 cr Varun Dhawan - Shraddha Kapoor starrer ABCD 2 collected a total of Rs. 46.35 cr in the opening weekend. Entertainment 'Veer' producer slaps Rs 250 cr defamation case on Salman Khan Vijay Galani, who had produced Salman Khan's 'Veer' in 2010, has filed a defamation case against the actor. Entertainment Madhuri Dixit Nene not returning for 'Jhalak Dikhhla Jaa 8′ Bollywood diva Madhuri Dixit Nene is not returning as judge for the eighth season of "Jhalak Dikhhla Jaa 8". Entertainment Mohalla Assi hurts religious sentiments, degrades women, say BJP men, file complaint Based on writer Kashi Nath Singh's book, Kashi Ka Assi, the film has Deol playing the role of a Sanskrit teacher, actress Sakshi Tanwar his loud-mouth wife and Ravi Kishan a tourist guide. TradeBriefs Publications are read by over 10,00,000 Industry Executives India Business Brief | India Retail News | India Food Brief | India Telecom Brief | India Finance Brief | India Software Brief | India Digital Brief | India Ecommerce Brief | India Franchise Brief | India HR Brief | India Logistics Brief | India Construction Brief About Us  |  Advertise Privacy Policy    Unsubscribe You are receiving this mail because of your subscription with TradeBriefs. 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