Future group demand $10 millions from Flipkart for exclusive e-tail rights

ET reported that before signing partnership with Amazon India, Future group has ongoing negotiation with Flipkart to sell its in house brands on the number one eCommerce site in India and Future group demanded a whopping $10 million for that exclusive online retail rights that it will grant to Flipkart and also wanted to pay a lower commission to Flipkart. This sky high demand led to the breakdown in discussion.

It is amusing to learn that Future group actually demanded that much money when it should be Flipkart demanding that money from them to enable them to sell their wares online. They are just getting too damn greedy and as if the in-house brands of the Future group are in so desperate demands by Indian consumers.

Wonder how much Amazon India, in its desperate attempt to compete with Flipkart, paid the Future group.

Ebay India, I also have some inhouse brands that I came up with just now, and how much are you going to pay me for the exclusive rights to list it on your site to sell? ;)

SEBI banned DLF promoters from securities market

ET reported that Sebi has barred DLF, promoters and few employees from securities markets for three years. And this means that DLF itself will also be prohibited from issuing equities and other instruments such as REITs and debentures.

The reasons SEBI gave for the ban,
- the company is found guilty of "active and deliberate suppression" of material information at the time of its public offer.

This is bad news for the investors and will have a really bad impact on their investment since this will impact the company and retail shareholders far more than it will on the promoters group. Sometimes I feel SEBI need to punish the promoters group running the company far more without affecting the company but it seems the regulations might not be in place to do so.

It looked like that there is indeed a governance issues at this company, since recently there is a number of wrong doings by the company in question,
- Punjab and Haryana High Court's cancellation of 350 acres of land allocation at Wazirabad in Gurgaon and
- CCI's penalty of Rs 630 crore on the company.

Xiaomi released OTA update to address redmi 1s heating and ram issues

Xiaomi announced the release of an OTA update which it said will address the heating and ram issues plaguing the Redmi 1S so far. These issues are particularly caused by the heavy MiUI custom interface which required a lot of RAM to run and so it doesn't run every efficiently on a device with only 1 GB of RAM.

India's inflation falls, rbi to sit tight?

India wholesale price inflation rate fall to a five year low of only 2.38% on back of decline in price of vegetables, milk, eggs, meat, fish, sugar, edible oils, beverages, cement.

Retail inflation is also at a low of 6.46%.
Food inflation falls to a two and a half years low of 3.52%.

RBI which has long declared its unending fight against the rising inflation despite repeated request from various corners of the industries to cut the high rates which are stifling investment and borrowings for much need infrastructure development in the country, should now have not much reason not to take another look at cutting the high interest rates to spur economic growth.

It is time the RBI work in tandem with the Government to spur economic growth, such high interest rates are not sustainable. It is advisable not to oppose for the sake of show of independence.

HK police took down barricades to clear road

source:cnn.com

I have a feeling that the pro-democracy supporters who considered the fight for freedom of choice to be in HK welfare actually seemed to be being undemocratic in their demands. That's the irony of it all. CNN reported that Hong Kong police have taken steps to cut ties used to bind together metal fences, signs, wooden pallets and recycling boxes which the protesters had assembled to block traffic through Admiralty, a main thoroughfare in Hong Kong. There were no reported resistance to the police action. Protestors are free to protest but they shouldn't block the main road to disrupt other people's lives, Don't they know that what they are doing are just the opposite of what they are trying to achieve? If it is indeed for the good of the Hong Kong people then why bring them down to achieve your demands?

For more photos, check out CNN post.

Reliance to sell Eagle Ford stake - A Positive for the company

Reuter reported that Reliance has appointed Citigroup, Bank of America and Merrill Lynch to look for a buyer for its 45% stake in Eagle Ford Basin which it bought for USD 1.2 billions in 2010. Reliance is looking for a valuation of USD 4.5 billions for its stake according to people in the know that such a move is being initiated. If it managed to get such a valuation, it will be a positive for the company who will be investing huge amount in providing pan India 4G which is expected to be launched in 2015

Honda UNI-CUB Personal Mobility Device

This personal mobility device is especially great for people who has problems walking and standing for long hours.

Amazon is reportedly interested in buying Jabong

ET report suggested that Amazon is in initial talks to buy Jabong and that Jabong is holding out for a higher valuation of at least $700 millions.
However FDI in online multi-brand retail is still not yet allowed, it would be impossible for Amazon to buy Jabong directly and this is something that need to be considered in the face of such a report.

India August IIP comes in at a disappointing 0.4%

India's Index of Industrial Production, representing factory output, comes in at a disappointing 0.4%
This shows that the "good days" as envisaged by the new Govt of India will take far more longer to achieve and so the judgement will probably has to be done by the end of next year.

Details of the August IIP data,
-   1.40% Manufacturing
-   6.90% Consumer goods
- 15.00% Consumer durable
-   0.90% Consumer non durable
- 11.30% Capital goods
+  2.60% Mining
+12.90% Power generation
+   9.6% Basic goods
+   0.3% Intermediate goods

Malala Yousafzai and Kailash Satyarthi win Nobel peace prize 2014

Pakistani teenager Malala Yousafzai and Indian children’s rights activist Kailash Satyarthi beat Edward Snowden, Chelsea Manning, the Pope and Vladimir Putin to the prestigious prize.

The winners were awarded £690,000 (8m kronor or $1.11m) prize by the chairman of the Nobel committee - Norway’s former prime minister Thorbjoern Jagland - on Friday morning.
Congrats to the winners.

Tata Global Beverages to go green with the aim to be pesticide free

According to TOI report, Greenpeace India welcomed the announcement made by Tata Global Beverages Ltd, which highlights its vision to promote ecological agriculture and Non Pesticide Management (NPM) in tea cultivation, under the project Sustainable Plant Protection Formulation (S-PPF). It would be a great move by Tata Global Beverages as it is a major concern for tea drinkers worldwide.

Facebook completed Whatsapp acquisition for $22b

Facebook has completed the acquisition of Whatsapp for a whopping $22 billion USD. Whatsapp has monthly users base of 600 millions so that roughly translate to 36 million per user if I didn't messed up the calculations.

HK stocks rises after protest ease

Hong Kong stocks rises the most in a month on Monday after tension ease. Hong Kong stocks have suffered significant losses ever since the protest for free direct democratic election of its leader erupted and threaten the region economy. Pro-democracy supporters started withdrawing from the protest zones with tension easing which is a good sign for the stock market and the local economy and since the protest happened during the long holiday week in China, it would have affected the tourism sector and others in a big way.

Facebook testing mobile payment and money transfer in its app

Facebook is found testing mobile payment and money transfer in its app, Facebook Messenger. TechCrunch report said a Stanford University student came across the payment feature on Facebook Messenger while using a developer tool called Cycrypt to study the app's iOS code via his jailbroken iPhone.

HP will split into two

Hewlett Packard HP will be splitting its hardware and services business into two separate listed companies to enable it to focus on more profitable business and enable it to sell some of its business more easily.

China new home buyers protest against cut in price after they have bought the home

When you buy any house/apartment in any location, if the market price of the said house/apartment fall within days, can you do anything about it or can you complain against the person/group who sold you the house/apartment?

Some homebuyers want to block an expressway in Ningbo, Zhejiang province, on the evening of May 4. About 400 homeowners broke into the sales office of property company Baoyi Real Assets and smashed it up as developers slashed home prices without compensating earlier buyers
src: chinadaily.com.cn

In China, we are seeing reports of protest against the actions of property developer there who drop price by as much as 25% within 5 days of many home buyers having purchased the house/apartment from them, well the property developer are doing it in order to spur sales of remaining units.

If property prices can go up, it can also go down. One can imagine the mayhem, it will cause if China property market were to spiral out of control and crash, however it is unlikely as the Government keep a close control over the property prices in recent years for fear of a hard landing for the housing market and the economy in general. It is time for the Govt concerned to educate people about the risk of such property investment, nothing goes up forever, it has to come down sooner or later.

A Chinese girl use fake prada bag to beat up her boyfriend

On 23 August 2014, an exhibition was organized about the authenticity of luxury goods and there are stalls to check the authenticity of the luxury goods, so a Chinese girl whose foreign white boyfriend has bought a Prada bag for her from abroad decided to have her bag checked by the appraiser there but to her surprise, she was told the bag was a fake one, she insisted on the appraiser to make sure as it was bought from abroad. She was told again that it is indeed a fake one, so she turned around and use the bag to hit her boyfriend in front of everyone and throw the bag at him.

Others also lined up to check their luxury items to see if it is authentic or not.

Probably verifying the bag gifted to them by boyfriends, husbands or relatives and friends

People lining up to get their  products verified

The expert in the process of verifying the authenticity of the products

Jackie Chan discuss with friends how to save his son Jaycee Chan

According to netease media report, Jackie Chan is pictured here discussing with friends how to save his son Jaycee Chan and how to deal with the current predicament he is in at the moment.
People should look at the case and see how your mistakes can put not only yourself but your entire family into a lot of heartbreak.