Online hospitality service provider Airbnb has announced its expansion to more than 1000 destinations, including Easter Island, Tasmania and Iceland, in 2018. The expansion is a result of the company witnessing a 2500 percent growth in experience bookings, and a 25 fold growth in Homes in 2017. Additionally, the company also announced the launch of four new passion categories - Airbnb Concerts, Social Dining, Adventures - and expanding Social Impact Experiences. In ten years, we've seen Airbnb hosts drive magical travel at unprecedented scale. And since launching Trips in November 2016, we've shown that this doesn't just apply to Homes.
February 24, 2018 07:08 UTC
H1B visa programme offers temporary US visa that allow companies to hire highly skilled foreign professionals working in areas with shortages of qualified American workers. Washington: The new H1B visas policy memorandum is part of the effort by the Trump Administration to protect the wages and working conditions of both American and non-immigrant workers and prevent any fraud or abuse, the US Citizenship and Immigration Services (USCIS) said on Friday. The H1B programme offers temporary US visas that allow companies to hire highly skilled foreign professionals working in areas with shortages of qualified American workers. “The USCIS is simply clarifying existing regulations and policy for third-party worksite H1B petitions,” its spokesperson told PTI. “Therefore, in order to protect the wages and working conditions of both US and H1B non-immigrant workers and prevent any fraud or abuse, the USCIS seeks to ensure officers properly interpret and apply the statutory and regulatory requirements that apply to H1B petitions involving third-party worksites,” the USCIS spokesperson said.
February 24, 2018 07:07 UTC
Therefore, the valuations base is almost priced in and with Rs 22 EPS for FY19 and Rs 28 for FY20, it is almost 21 times for FY20. It is fairly valued but on the pharma space, Aurobindo Pharma is much better placed in terms of valuation and the growth prospects. We are very much bullish on Aurobindo Pharma as with Sun Pharma but on the valuation front, Aurobindo Pharma is much better placed.For next week, metal could be the sector to watch. We would, of course, prefer JSW Steel, but for next week, Vedanta could be the one to follow. Price correction has not been so visible in this stock even when metal price index has gone down.
February 24, 2018 07:07 UTC
"Lot still needs to be done in Make in India and focus on defence manufacturing will go a long way in doing that," NITI Aayog CEO Amitabh Kant said. Kant, who has been the man behind the Make in India programme, was speaking at a session on Make in India at the Economic Times Global Business Summit on Saturday.According to Kant, enforcement of contracts is one of the weak areas of doing business in India and this needs to be improved. "India has shown significant improvement in nine out of 10 parameters of ease of doing business. "By apeing the West we are not making in India. For the first time in 2017, India move up 30 positions to be among top 100 nations after persistent efforts over the last three years to improve upon ease of doing parameters.
February 24, 2018 06:54 UTC
On Friday, the Supreme Court had rejected IndiGo’s plea challenging a Delhi HC order to shift its operations partially from T1 of Delhi’s IGI Airport to T2. On Friday, the apex court rejected IndiGo’s plea challenging a Delhi high court order to shift its operations partially from Terminal 1 (T1) of Delhi’s IGI Airport to Terminal 2 (T2). The SC has given IndiGo and SpiceJet time till 3 March to approach airport operator Delhi International Airport Limited (DIAL) for suggesting which of their flights can be shifted from T1 to T2. “IndiGo deferentially accepts the decision of the apex court and shall implement the order in the coming weeks, in close coordination with Delhi International Airport Limited,” the airline said in a statement today. Following this, DIAL will inform IndiGo, which will have to comply with the same within ten days.
February 24, 2018 06:45 UTC
NEW DELHI: Finance minister Arun Jaitley said that the decision to tax Vodafone Group retrospectively, taken by the UPA 2 government, was 'erroneous' and that the present government will not be going down that path. "I always felt Vodafone tax decision was an erroneous decision... This govt will not be taking any retrospective decision," Jaitley said, talking to a packed house at the Economic Times Global Business Summit 2018 on Saturday.The comment came in response to questions from the audience about stability of policy, rules and regulations, a key ask from overseas investors, who have seen the Vodafone tax case play out for nearly a decade.Jaitely added that if any investor chooses another destination over India, it can't be for the Vodafone tax issue but about other issues.The government at that time had raised a tax demand of Rs 11,000 crore raised by the government related to Vodafone’s USD 11 billion acquisition of Hutchison Telecom stake in 2009.The government had said then, that the Hutchison-Vodafone deal was liable for tax deduction at source ( TDS ) under the Income Tax (IT) Act, and since Vodafone had not deducted the tax at source, the government raised the demand, which has expanded to Rs 20,000 crore including interest and penalties.While the Supreme Court subsequently quashed the demand on January 20, 2012, the government amended its IT Act retrospectively, putting the liability back on Vodafone Group.Consequently, Vodafone Group, through its Dutch subsidiary - Vodafone International Holdings BV (VIHBV) – in April 2012 invoked arbitration under India-Netherlands BIPA and then issued notice of arbitration of in April, 2014.While proceedings under India-Netherlands BIPA were pending, it initiated a second arbitration under the India-UK BIPA in January, 2017, which was challenged by the Indian government on the grounds that two claims were based on the same cause of action and sought identical reliefs but from two different tribunals constituted under two different investment treaties against the same host state.In the hearings in the Supreme Court last year, the Centre argued that disputes encompassing tax demands raised by a host state were beyond the scope of arbitration provided under the BIPA as taxation was a sovereign function and could only be agitated before a constitutional court of the host state.The apex court had said on December 14 last year that the chairman or presiding arbitrator can be appointed so that the tribunal is set up, but it should not commence hearing till the Delhi High Court decides the pending matter. The hearing in this matter is still going on.
Launching 5 daily flights connecting Chennai to Bangalore and Bhubaneswar #noweveryonecanfly #Chennai @AirAsia," he tweeted.The Bengaluru-headquartered air carrier also announced the induction of Airbus A320 into the fleet taking the total to 15.From today, the airline will operate three daily flights to Bengaluru and two to Bhubaneswar from Chennai making it as the 17th destination. "We are launching Chennai in the 17th destination in the network. Starting with four flights, three direct. It is daily", he said.To a query, he said, the airliner is "reintroducing the flights on the route" as the time was ripe. Today the new aircraft operations will begin.
A Jammu-bound GoAir flight, with 112 passengers and crew members on board, returned to the Leh airport today shortly after take off due to some " technical snag ", officials said.The Delhi-Leh-Jammu flight left the Leh airport in the Ladakh region for Jammu at 9.20 am, but returned within 10 minutes, an official of the GoAir said.He said the flight developed some "technical snag" after going air-borne, forcing the pilot to return to the airport.All the passengers and crew members, comprising two pilots and four other staff, are safe, he saidThe official said the flight has been grounded and a team of engineers are reaching Leh from Delhi for inspection and necessary repairs.If given a clearance, the flight might leave for its destination only tomorrow, he said, adding that the airline was working to accommodate the passengers in other flights to ensure their departure today itself.
The film entered the coveted Rs 100 crore club with a collection of Rs 138.88 crore at the Indian box office. Here’s looking back at the box office collection of Sonakshi Sinha’s last five Bollywood releases:1. Force 2: In this sequel to the 2011 Force, Sonakshi Sinha played the role of a RAW agent KK aka Kamaljit Kaur. As a result, the film failed to do business at the box office and earned a meagre Rs 35.74 crore. The Arjun Kapoor and Sonakshi Sinha starrer minted Rs 39.26 crore at the box office.
February 24, 2018 06:45 UTC
The Dwarka Das Seth International availed various credit facilities from Oriental Bank of Commerce between 2007-12, which swelled to Rs389 crore during the period. Photo: MintNew Delhi: After Nirav Modi and Mehul Choksi, the Central Bureau of Investigation (CBI) has registered a case against a Delhi-based diamond jewellery exporter for an alleged bank loan fraud to the tune of Rs389.85 crore towards Oriental Bank of Commerce. The CBI has booked Dwarka Das Seth International Pvt Ltd for the alleged fraud. Six months after the public sector bank filed a complaint with the CBI, the agency booked the company, and Sabhya Seth, Reeta Seth, Krishna Kumar Singh, Ravi Singh — all directors of the firm — and another company named Dwarka Das Seth SEZ Incorporation. The company has availed various credit facilities from OBC between 2007-12, which swelled to Rs389 crore during the period.
February 24, 2018 06:33 UTC
As the colour green signifies peace and harmony, how about gifting a potted plant or terrarium as a gift? (Source: File Photo) As the colour green signifies peace and harmony, how about gifting a potted plant or terrarium as a gift? Add colours to your gifting options like a green plant, a gold coin or orange sweets like gujiya, suggest experts. * Yellow: In India, gifting gold jewellery and idols is considered auspicious for celebratory occasions. * Blue: As the colour blue signifies calm, gift your friend or a family member a travel gift card.
February 24, 2018 06:24 UTC
HYDERABAD: Promoters of homegrown mobile handset firm Celkon floated a multi-brand retail chain for mobile handsets and accessories. Guruswamy Naidu and Retineni Murali Krishna plan to invest around Rs 400 crore in the chain that will operate under the Celekt brand. “Hence, we see good growth in organised longform retail channels for mobiles and accessories,” he said.Celekt, the founders said, would be the first mobile retailer to have a pan-India presence. The investments will be met through institutional borrowings and promoter’s equity. Half the proposed 1,000 stores will come up over the next two years, while the balance will be set up in the second phase.
February 24, 2018 06:22 UTC
Union Finance Minister Arun Jaitley asked regulators to keep their “third eye” open to keep a watch on their sectors. Regulators have to have a third eye, which is perpetually open and which keeps looking at the sector. But unfortunately in the Indian system we politicians are accountable, the regulators are not,” he said.Jaitley did not mention any specific regulator, but spoke about “inadequate supervision right at the top, from supervisory agencies”. When asked if there was a case for strengthening regulation, Jaitley said, “Where regulation is lacking, it needs to be strengthened.”Jaitley was harsh on auditors and bank managements. On the issue of strategic disinvestment, he said NITI Aayog has prepared a list of companies that are meant for strategic disinvestment and the schedule is there.
February 24, 2018 05:58 UTC
SAN FRANCISCO: Taking on Apple and Google Microsoft and Chinese electronics major Xiaomi have signed Memorandum of Understanding (MoU) to develop Artificial Intelligence (AI)-powered budget speakers and smartphones.The companies would work closely in Cloud computing, AI and hardware. Since they have chosen to sign a memorandum, their partnership is not legally binding and it is unclear if any financials are involved, the Verge reported late on Friday.Microsoft is planning to allow Xiaomi to use its Cloud computing products, including Azure, to develop upgraded phones, laptops and smart devices.At the same time, the partnership will also give Microsoft more reach and access to the Chinese market.According to the Chinese player, it stands to benefit from "Microsoft's globally leading technologies in Cloud computing and AI. "Xiaomi might also integrate Microsoft Cortana with the Mi AI speaker -- a budget speaker with a modern look.So far, Microsoft has only developed one Cortana smart speaker "Harman Kardon Invoke" that has struggled to compete with other popular digital assistant speakers from Amazon , Google and Apple.Microsoft and Xiaomi are also in talks about projects that will use several Microsoft AI technology, including conversational AI and speech and services like Bing, Edge and Skype, the report said.Microsoft and Xiaomi have ties that date back to 2015, when they signed a deal to test Windows 10 on Xiaomi devices.Last year, Xiaomi was the world's fifth most popular smartphone company, shipping 92.4 million phones, trailing the likes of Apple, Samsung and Huawei , according to numbers released by market research firm International Data Corporation (IDC).
February 24, 2018 05:37 UTC