Technology 

India’s online sellers to appeal against competition commission’s Flipkart ruling

The logo of Flipkart is seen on the company’s office in Bengaluru, India, May 9, 2018. REUTERS/Abhishek N. Chinnappa MUMBAI (Reuters) – A group representing online sellers in India will appeal against the Competition Commision of India’s (CCI’s) ruling in favour of Walmart-owned Flipkart, the group’s lawyer Chanakya Basa said in a release on Saturday. All India Online Vendors Association (AIOVA), which represents more than 3,500 online sellers, had complained that Flipkart was using its dominant position to favour select sellers. The CCI had rejected this argument in November. The…

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Technology 

India’s Infosys raises revenue guidance, but third-quarter profit misses estimate

FILE PHOTO: The logo of Infosys is pictured inside the company’s headquarters in Bengaluru, India, April 13, 2017. REUTERS/Abhishek N. Chinnappa/File Photo (Reuters) – Indian IT services company Infosys Ltd raised its full-year revenue growth forecast on Friday, but reported a larger-than-expected drop in third-quarter profit, due to higher expenses. The country’s second-biggest software services exporter by market capitalization reported a 29.6 percent fall in attributable profit for October-December to 36.09 billion rupees ($511.94 million). That compared with the 41.31 billion rupees average of 25 analyst estimates compiled by Refinitiv…

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Technology 

India’s Tata Consultancy Services posts record quarterly profit

Tata Consultancy Services (TCS) Chief Executive Officer Rajesh Gopinathan attends a news conference announcing the company’s quarterly results in Mumbai, India, January 10, 2019. REUTERS/Francis Mascarenhas (Reuters) – Tata Consultancy Services Ltd (TCS.NS), India’s biggest listed company by market capitalization, reported a record quarterly net profit, helped by gains in Banking, Financial services and Insurance (BFSI) segment. In a seasonally weak quarter for Indian IT firms due to year-end holidays, TCS posted a profit of 81.05 billion rupees ($1.15 billion) for the Oct-Dec period, up from 65.31 billion rupees a…

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Top stories 

Behind India’s construction boom: ‘We risk our lives to build your homes’

Image copyright Ankit Srinivas Image caption Ram Bhavan has been working as a construction worker for 10 years It was an early morning in November when Mir Hasan arrived at a construction site in Noida – a suburb of India’s capital Delhi – to start his daily shift. He drank a bottle of water and began work right away – this was his routine every day. But a few hours later, he fell from the high-rise building and died. He should have had a harness, a good protective helmet, boots…

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Technology 

India’s tightens e-commerce rules, likely to hit Amazon, Flipkart

NEW DELHI/MUMBAI (Reuters) – India will ban e-commerce companies such as Amazon.com and Walmart-owned Flipkart Group from selling products from companies in which they have an equity interest. A shipment moves on a conveyor belt at an Amazon Fulfillment Centre (BLR7) on the outskirts of Bengaluru, India, September 18, 2018. REUTERS/ Abhishek N. Chinnappa In a statement, the government also said that the companies will be prevented from entering into exclusive agreements with sellers. The new rules will be applicable from February 1. “An entity having equity participation by e-commerce…

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Lifestyle 

Bollywood, Beyonce and bling as daughter of India’s richest man set to marry

(Reuters) – U.S. singer Beyonce will perform at the wedding of the daughter of India’s richest man, Mukesh Ambani, along with Bollywood stars, and guests will be flown in on 100 chartered flights in lavish marriage celebrations. Construction workers install glass on the exterior of Gulita, a bungalow which according to local media will be the marital home of Isha Ambani, daughter of the Chairman of Reliance Industries Mukesh Ambani, in Mumbai, India, December 7, 2018. REUTERS/Francis Mascarenhas Isha Ambani, 27, will marry Anand Piramal, 33, in the financial capital…

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Top stories 

India’s richest family caps year of big fat weddings

Image copyright Getty Images Image caption Mukesh Ambani (left) is worth more than $40bn. His daughter Isha (third from left) will marry on 12 December India is still recovering from two back-to-back celebrity weddings but it’s already time for the next one. This time it’s the children of two Indian billionaires, who are all set for what promises to be the next level of big fat Indian weddings. Isha Ambani, the daughter of India’s richest man, Mukesh Ambani, will marry Anand Piramal, the son of another billionaire industrialist on 12…

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Science 

India’s Earth observation satellite among 31 sent into space

NEW DELHI (Reuters) – India fired a rocket carrying 31 satellites into space on Thursday, including its own advanced earth observation satellite among the other smaller ones launched for eight countries. The rocket launched from the southern state of Andhra Pradesh carried the Hyper-Spectral Imaging Satellite (HysIS) with high resolution, digital-imaging equipment to map the earth, the Indian Space Research Organisation (ISRO) said. Satellites from Australia, Colombia, Malaysia and Spain were also carried for the first time by an Indian rocket, the state-run ISRO said on its website. This latest…

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Top stories 

Is India’s Ayodhya Hindu-Muslim dispute simmering again?

Image copyright Getty Images Image caption Some 100,000 people from Hindu right-wing groups are demanding the construction of the Ram Temple The northern city of Ayodhya has been a key point of tension between Hindus and Muslims in India. In the last few months, there have been renewed calls to build a temple on the spot, where a 16th Century mosque was demolished by Hindu mobs in 1992. The BBC explains why the holy site is back in the news. Why are people gathering in Ayodhya? Some 100,000 Hindus are…

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Technology 

India’s Flipkart Group fashion unit chief denies he is quitting

MUMBAI (Reuters) – The chief of Flipkart Group’s Myntra-Jabong fashion business on Friday denied a media report that he will quit after a reshuffle in the ranks following the ouster of group CEO Binny Bansal. The logo of Flipkart is seen on the company’s office in Bengaluru, India, May 9, 2018. REUTERS/Abhishek N. Chinnappa “I’m very excited about Myntra,” Ananth Narayanan, the CEO of the business, told Reuters in an interview. “I certainly intend to continue.” But he did say that there would be some job cuts in the Jabong…

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