India

The World is Facing Sugar Shortage Until at Least 2017, Caused by El Niño

El Niño is hitting on cane productions especially in Asia, leading to a global shortage and the rise in prices. This would be the first year of sugar shortage after years of surplus. The shortage is projected to be prolonged to at least next year.

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CarDekho's Parent Girnar Software Secured New Funding Round Led by Google Capital, Aims to Expand Services

CarDekho.com and CarBay.com's parent company Girnar Software has received a late-stage funding round led by Google Capital. The new fund will be allocated to further improve the company's car portals' technology as well as expanding services.

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India's New Jewelry Tax Poses Major Threat To Gold Market, Sparks Protest From Jewellers

India’s gold market is threatened as the government revealed a new jewelry tax regulation, requiring a 1 percent sales tax on gold jewelry. Import taxes has not been changed, even though jewellers have expected the government to eliminate the 10 percent import duty.

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Kingfisher Airlines, Grant Thornton India Under SFIO Probe Over 'Inflated Valuation'

Serious Fraud Investigation Office (SFIO) has been probing on Vijay Mallya's Kingfisher Airlines and Grant Thornton India regarding the 'inflated valuation' that reached over Rs 4,000 crore. The valuation came out just as the airline company is dealing with a cash crunch with previous loans considered to be non-performing assets.

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ICICI Bank Ltd. Funds Increased as World Asset Management Inc. and Other Hedge Funds Added Stakes

World Asset Management Inc increased its stakes in ICICI Bank Ltd thus increasing the bank’s fund. The bank will now have sufficient funds to lend to eligible borrowers who want to have their own business and houses.

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India's Former Famous Smartphone, Micromax Now Scrabbles

Micromax has been the popular smartphone company in India but with the introduction of other cheaper smartphones from other companies, Micromax is now struggling to keep pace with its competitors. It is now seeking partnership for expansion to produce television and tablets outside its home country.

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Nestle India's Maggi Failed Sample Tests in Uttar Pradesh

A sample test conducted by Uttar Pradesh food safety officials found that Nestle’s Maggi noodles contain more percentage of ash than permitted by the regulations. However, the company has denied the accusation, stating that the claim is based on the wrong standard.

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Silicon Valley on India: Striking The Iron While It's Hot

There is a saying "Strike while the iron is hot". That is what Silicon Valley is doing - investing big in India where the economy grows faster.

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Bharti Airtel and Idea Cellular is Predicted to Face Challenge in 2016

Two of India's largest telecom operators Bharti Airtel and Idea Cellular have an increase revenue market share in 2015. However, Morgan Stanley predicted the companies will face substantial challenge in 2016.

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India to Infuse $3.65 Billion of Capital Into Government-Run Lenders

India is about to fund $3.56 billion of capital to govrnment-run lenders because of bad and restricted loans. Banks felt relief as the government is ready to help them when they need the capital.

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India's Budget Focuses on Rural Development

With the release of the yearly budget many are hopeful that their lives will change for the better especially for those who live in the rural areas. The allocated budget focuses mainly on the agrarian sector, health and social and infrastructures that could help alleviate sufferings and give comfort for the less fortunate.

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United Spirits Chairman Resigned, Taking Diageo’s Offer of £53m to Walk Out

The King of Good Times, or Vijay Mallya, reached an agreement with spirits giant Diageo to leave the booze business. He is resigning his position as United Spirits Ltd chairman while Diageo takes full management ownership of the company.

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1955 Capital Firm Raised $200 Million Fund Targeting China

Former Hong Kong music popstar turned venture capitalist Andrew Chung established his own firm 1955 capital. With a $200 million fund, he expects to bring clean technology to China.

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Unemployment, The Main Factor of High Drug Abuse in Punjab

Punjab drug consume is one of the higest in India. The main reason of this is unemployment and frustrated economic expectations. Another factor that plays an important role is the easy access to drugs.

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Mobile Startup Jana Gets $57 Million From Verizon Ventures for Expansion

Mobile startup Jana has a new influx of cash and an old industry hand as a new adviser. It recently nabbed a $57 million funding from Verizon Ventures for expansion in developing countries.

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