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Closing Bell: Sensex soars 190.66pts, Nifty at 10,739.35

Mumbai, Apr 30 (ANI): Market indices ended positive on Monday evening, backed by fresh global cues and correction in prices of crude oil. The BSE's Sensex ended 190.66 points higher at 35,160.36, while Nifty inched closer to 10,800 at 10,739.35 in closing trade. Marico, Vijaya Bank, Bombay Dyeing and Jet Airways gained up to eight percent, while InterGlobe Aviation, PC Jeweller and IDBI Bank traded under pressure and incurred losses of up to 19 percent. All sectoral indices traded in green, with FMCG, IT, PSU Bank and Realty indices rising over one percent each. Meanwhile, HDFC gained nearly two percent after reporting a 39 percent rise in profits.

Sprint, T-Mobile agree to $26 billion merger

New Delhi, Apr 30 (ANI): T-Mobile and Sprint announced on April 29 that they had agreed to a $26 billion all-stock deal as they aim to fight top competitors Verizon Wireless and ATandT. Those two stand well ahead of Sprint and T-Mobile in preparing for 5G technology, which is expected to have speeds necessary to power drones and self-driving cars. The $26 billion all-stock deal gives T-Mobile majority owner Deutsche Telekom 42 percent of the company and control of the board. The New York Times reports the new firm will retain the T-Mobile name and be run by its current CEO John Legere. Japan's SoftBank Group, which controls Sprint, would own 27 percent of the merged firm and have four board seats.

5 platforms to help every woman with that extra penny!

New Delhi, Apr 26 (ANI): A homemaker has a sum of endless roles and often these roles are overlooked as women automatically recourse their responsibilities towards the kitchen. But with evolving time, the participation and partnership of both women and men are being considered integral. Today, each woman has started spending their leisure time in doing something that she loves, so that she can refill and restore her own soul and be equipped to pour into the lives of the family.

India, World Bank to improve MP's rural road network

New Delhi, Apr 25 (ANI): The Government of India, the Government of Madhya Pradesh and the World Bank signed a 210 million dollar loan agreement for the Madhya Pradesh Rural Connectivity Project. The project is expected to improve the durability, resilience, and safety of the gravel-surfaced rural roads and enhance the capacity of the state to manage its rural roads network. The new joint project will cover 10,510 km stretch of rural roads in Madhya Pradesh that fall under the Chief Minister's Gram Sadak Yojana (CMGSY) program. Of this, 10,000 km will be upgraded from existing gravel to bituminous surface roads, while 510 km of new roads will be built to the same bituminous surface standard. The project will also strengthen road safety management systems with the objective of reducing fatalities and serious injuries from road accidents. The focus will be on improving road accident data collection and analysis at central and state levels through implementation of the Road Accident Datab

Shaktikanta Das endorses formation of 'holding company' for PSBs

New Delhi, Apr 25 (ANI): Former economic affairs secretary Shaktikanta Das claimed that it was time to set up a 'holding company' for public sector banks (PSBs), in the wake of the recent economic reforms. Das said "It is my personal opinion that the government should make a holding company for public sector banks. There are around 21 such banks. I feel that around ten should be retained as it is, and the rest should be merged or taken over. The creation of a holding company will allow shares of these PSBs to be transferred."

Cash Suvidha to disburse Rs 400 cr loan to 50,000+ borrowers in FY' 18-19

New Delhi, Apr 24 (ANI): Cash Suvidha, a fintech startup that began its operations in May 2016 by extending business loans to SMEs, MSMEs, and personal and women entrepreneurs has added another feather to its cap. It has disbursed around Rs 122 crore of loans in the Financial Year 2017-2018 and targets to disburse Rs 400 crore loan amount by the end of March 2019. In the last financial year, the maximum loan disbursement i.e., nearly 70 per cent of the total loans was provided to the SME sector which generally finds it difficult to obtain credit or working capital from the banks owing to a number of reasons. "India today boasts of nearly 50 million firms that can be classified under the SME category and are innovatively pacing themselves up to cater to the ever-increasing needs of the growing population. In addition, the number of women entrepreneurs in India is also growing at a fast pace. In such times, Cash Suvidha is playing a significant role in empowering SMEs, MSMEs, individuals

E-way bill to rollout in four states on April 25: Centre

New Delhi, April 24 (ANI): The Centre on Monday stated that the e-way bill system for intra-state movement of goods will be rolled out in four more states and one union territory on Wednesday. As per the Ministry of Finance, the e-way bill system is being introduced to four states starting April 25, namely Arunachal Pradesh, Madhya Pradesh, Meghalaya, and Sikkim, and will also be rolled out in Puducherry. It also noted that as on April 22, more than 1,84,000 e-way bills have been successfully generated, which includes more than 22,00,000 e-way bills for intra-state movement of goods.

StoreHippo launches vertical marketplace solution for brands to strengthen online presence

New Delhi, Apr 24 (ANI): StoreHippo, the leading SaaS e-commerce platform launches vertical marketplace solutions for single brand enterprises to build and grow their own online brand presence. This addition to StoreHippo, offers enterprise businesses a strong alternative to selling on popular horizontal marketplaces. With this latest offering, the flexible ecommerce platform comes to the rescue of brands that opt for selling on public marketplaces lured by instant boost in sales and integrated supply chain. StoreHippo's powerful vertical marketplace solution supported with B2B features has been successfully implemented by a number of single brand enterprises. It has helped them overcome the challenges they faced on the popular horizontal marketplaces.

Recruitment growth eases to 3% in March '18

New Delhi, Apr 22 (ANI): A recent report published by online job portal, Naukri.com, reported a three percent hike in hiring activity in March, down from six percent in the previous month. As per the Naukri JobSpeak Index, hiring in March was pegged at 2,129, marking a three percent increase from March last year. Furthermore, a quarterly comparison of hiring activity indicated a seven percent rise in Q4 2017-18 compared to the corresponding quarter in the previous fiscal. The growth in hiring was led by metro cities, with Mumbai and Kolkata registering a growth 11 and 20 percent respectively in Q4 2017-18, compared to the same period last year. The report also highlighted a 32 percent rise in hiring across jobs requiring production and maintenance as a key skill in the fourth quarter.

IOB inks information utility pact with NeSL

New Delhi, Apr 21 (ANI): Indian Overseas Bank (IOB), one of the leading public sector banks, on Friday entered into an agreement for information utility services with the National E-Governance Services Limited (NeSL). The NeSL became India's first information utility (IU) for bankruptcy cases under the 'Insolvency and Bankruptcy Code (IBC) 2016' in October 2017. With this agreement, the IOB branches will be able to provide high-quality, authenticated information about debts and defaults; which will have more transparency in maintaining the list of borrowers, debtors, creditors and loan defaulters.

Is cash crunch affecting printing machinery business?

New Delhi, Apr 21 (ANI): When asked about whether the alleged cash crunch in the country is also affecting the printing machinery business, deputy managing director Sangam Khanna from Komori, the company which is among the top two companies worldwide engaged in providing currency printing machines, said that their business supplies the equipment as and when asked by the Reserve Bank of India (RBI).

Lemon Mobiles to set up manufacturing unit in Noida

New Delhi, Apr 20 (ANI): Lemon Mobiles, a home-grown mobile brand from Lemon Electronics Limited, announced the establishment of a new manufacturing unit for mobile phones and LED TVs at Noida. With an estimated investment of Rs 150 Cr, the proposed facility will be equipped to produce one million mobile handsets and 60K LED TVs per month. After the plant comes into operations in 2020, the company aims to hit Rs.1000 crore top line in the next three years. It also plans to set up an R and D and Testing Lab facility in Shenzhen, China to design the next-generation mobile handsets.

Amazon stock up as the company reaches 100 million Prime subscribers

New Delhi, Apr 20 (ANI): Amazon's shares rose after CEO Jeff Bezos told shareholders that it has more than 100 million Amazon Prime members globally. That rise came on top of more than a 70 percent upturn in the last 12 months. Prime Now, a service that offers free delivery within two hours, is now available in more than 50 cities spanning nine countries.

World Bank predicts 7.3% growth for India in 2018

New Delhi, Apr 17 (ANI): The World Bank on Monday noted that the Indian economy has recovered from the effects of demonetisation and the Goods and Services Tax (GST) and predicted a growth rate of 7.3 percent for the country in 2018. Further, the apex international financial institution forecasted a rate of growth of 7.5 percent for 2019 and 2020. The World Bank in its twice-a-year South Asia Economic Focus report said that the growth is expected to accelerate from 6.7 percent in 2017 to 7.3 percent in 2018, and will subsequently stabilise, supported by a sustained recovery in private investment and private consumption. The report also noted that India should strive to accelerate investments and exports to take advantage of the recovery in global growth.

National Anti-Profiteering Authority goes online

New Delhi, Apr 15 (ANI): In a bid to ensure timely grievance redressal for consumers, the National Anti-Profiteering Authority (NAA) launched the 'Anti Profiteering' online community in association with a citizen-engagement platform, LocalCircles. The platform, comprising over 60,000 active Indian citizens, was launched in a bid to help users report cases of profiteering at the earliest, thereby ensuring timely redressal of the same.

CBDT invites comments to improve transparency in tax rulings

New Delhi, Apr 14 (ANI): The Central Board of Direct Taxes on Saturday invited comments on draft notification proposing amendment to Rule 44E, Form 34C, 34D and 34DA as per Base Erosion and Profit Shifting (BEPS) Action 5, for improving transparency in tax rulings. Under BEPS Action 5, exchange of rulings on Permanent Establishment (PE) by authority for advance rulings is required to be done with the country of residence of the immediate parent company and the ultimate parent company. To bring greater transparency in cross national transactions, Form 34C and 34D (Forms for Advance Rulings) are required to be modified.

5 student-friendly platforms to help you plan your career

New Delhi, Apr 14 (ANI): Lack of awareness and guidance among students on new career avenues often leads to confusion. Choosing the right career is about understanding the pool of choices available to an individual. Here are some platforms for students to help them plan their career ahead: BYJU's: The learning platform offers training for preparation of different entrance and competitive examinations like CAT, JEE, IAS, GRE, and GMAT. MakeMeStudyAbroad: It is a one-stop, digitally-driven platform to facilitate education planning and documentation for students planning to study abroad. Mindler: One of the most-advanced website for online career assessment, career guidance and career counselling in India, Mindler is designed for school students and graduates.

GoWork to set up 50 co-working centers across India in next 5 years

New Delhi, Apr 14 (ANI): Collaborative co-working ecosystem, GoWork, has announced its plans to establish co-working centers in Delhi and Bengaluru to cater to the rising demand in these areas. The co-working space provider, which owns the world's largest and second largest co-working campuses in Gurugram, aims to open the Delhi center for its clients by June and the Bengaluru one by the end of this year. Since its inception GoWork has become a revolution within the co-working culture in India and focuses on providing the best work-life balance to its clients.

Synup launches CoinFriendly, World's largest repository of Bitcoin-friendly businesses

New Delhi, Apr 12 (ANI): Synup, a provider of Software as a service (SaaS) based location intelligence announced the launch of a new website, CoinFriendly. The website is the single largest repository of local businesses that accept cryptocurrency for transactional purposes. It has10,717 Bitcoin-accepting businesses listed on CoinFriendly. The new website will allow Bitcoin users across the globe to identify these stores and services in 20 countries including North America, Europe, Asia, Australia and South America. There has been an increase in Bitcoin adoption rates and therefore the number of businesses that are now open to accepting any form of cryptocurrency has been soaring.

Ola continues its Australian expansion

New Delhi, Apr 12 (ANI): Following successful launches in Perth and Sydney earlier this year, ride hailing platform Ola announced the launch of operations in Melbourne. In lieu of this, Ola is offering passengers free rides from Thursday, for a limited period of time. Following the launch of operations in Australia, Ola has been positively received and achieved 15,000 registrations across the region. Ola offers driver-partners a market low 7.5 percent introductory commission rate and daily payments, helping them earn more money and access it easily. Over the coming months, Ola is working with local stakeholders to continue its rollout in Australia, with future launch cities including Brisbane and the Gold Coast, Canberra, Adelaide, Darwin and Hobart. The company is also developing a number of new initiatives for its customers and driver-partners. These include updates to the Ola app and building its local support team that will help build a better ride share experience.