Citizens' Issues
Walmart to open 10 cash and carry stores in Karnataka
Bengaluru : Retail giant Walmart India on Thursday announced it had signed an agreement with Karnataka government on Thrusday to set up 10 cash and carry stores in the state.
 
"Today (Thursday), we signed an agreement with Karnataka government to open 10 cash and carry stores in Karnataka," said compnay's CEO Krish Iyer at panel discussion 'Promoting Women Entrepreneurship' at the Invest Karnataka 2016 Global Investors Meet (GIM).
 
Citing Walmart's goals of promoting and encouraging women entrepreneurs in a big way, he invited them to approach Walmart team for evaluation to enroll as a vendor.
 
"We are running a women entrepreneurship development programme on demand and supply side. Demand side includes developing women entrepreneurs who can open kirana stores or small hotels, restaurants and dhabas to whom we will supply at low costs," he said.
 
Supply side opportunity is much bigger at Walmart where it already sources merchandise from 30 women-owned businesses and services from 35 women-owned businesses.
 
In 2011, Walmart launched the global Women Economic Empowerment Programme aimed at doubling the current $20 billion worth merchandise sourcing from women entrepreneurs across the globe.
 
Iyer said other important global goals for Walmart are to promote diversity and inclusion in the existing supplier mix from both merchandise and professional services and empower nearly one million women globally.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Nifty, Sensex may rally – Thursday closing report
If Nifty closes above 7,450, there are chances of a strong rally
 
We had mentioned in Wednesday’s closing report that Nifty, Sensex were under pressure and that Nifty has to close above 7,420 for the downtrend to end. The major indices of the Indian stock markets rallied after three days of losses and closed with small gains over Wednesday’s close. The trends of the major indices in Thursday’s trading are given in the table below:
 
 
The National Association of Software and Services Companies (Nasscom) on Thursday revised the growth forecast for the software services sector to between 10-12% for the financial year 2015-16, a statement said. The exports revenue of the industry grew by 12.3% and domestic revenue grew by 10% in 2015-16. The earlier growth projection by the IT software industry body for the present financial year was in the tune of 12%-14%. “Amidst a growth of 0.4% in the global IT-BPM in 2015, the industry is expected to reach an estimated $143 billion in FY2016, doubling its revenue over the last six years and crossing the $100 billion milestone in export revenues,” the statement said. “In addition, e-commerce contributed $17 billion revenue boosting digital consumption. India continues to gain market share in the global sourcing sector and emerges as the largest, most diversified and scalable destination,” it added. “Amidst a volatile global economic environment, the industry has been able to set new benchmarks by growing from strength-to-strength and sustaining its double-digit growth,” BVR Mohan Reddy, chairman, Nasscom said. With an increase in technology spending estimated by global technology analysts, industry expects the double digit growth story to continue in 2016-17. “The IT-BPM industry export revenue is expected to grow by 10%-12% in 2016-17 reaching revenues of $119-121 billion. The industry is expected to add a net employment around 2 lakh,” the statement added. The S & P BSE Information Technology Index closed at 11,179.77, up 0.92% on the BSE.
 
The government has approved seven infrastructure projects in road and port sectors envisaging an investment of Rs.9,672 crore, an official statement said on Wednesday. "The Public Private Project Appraisal Committee (PPPAC) and the Empowered Committee (EC) both chaired by Secretary, Department of Economic Affairs met on February 2, 2016, and cleared six road projects and one ports sector project with estimated project cost totalling Rs.9672.12 crores," a finance ministry statement said. "Quick clearances given," Economic Affairs Secretary Shaktikanta Das said in a tweet. The projects include four national highway projects, one each in Maharashtra and Himachal Pradesh and two in Uttar Pradesh, and one port project in the coastal state of Goa. Besides, two road projects in Uttar Pradesh have been cleared for Viability Gap Funding (VGF), under which the government gives support to infrastructure projects.
 
The Adani group would invest about Rs.21,000 crore in Karnataka to expand its power station, and set up a solar project for renewable energy and a sea port on the state's coast, group founder Gautam Adani said on Wednesday. "We are setting up two 800 Mega Watt (MW) plants at our Udupi Power Corporation Ltd. station at Rs.11,500 crore, and a 1,000 MW solar power project at Rs.7,000 crore and a greenfield seaport at Tadadi at Rs.2,000 crore on the coast," Adani said at the state's global investors meet (GIM). Tadadi is in Uttara Kannada district of the state, about 500 km from Bengaluru. The $17.5-billion Ahmedabad-based conglomerate had bought the 1,200 MW Udupi thermal project from Lanco group at Rs.6,300 crore in April 2015. The power plant is located near the temple town of Udupi in the coastal district of Dakshina Kannada, about 400 km from Bengaluru. "As the Udupi plants run on imported coal, we are setting up a captive dredge at the New Mangalore Port Trust at Rs.500 crore to handle about 10 million tonnes of coal per annum. The jetty will create 600 jobs," Adani asserted. The additional investment in the power project will make it the largest independent power producer in the southern state and provide energy to about 20 million homes when 1,600 MW will be added to the grid.
 
The top gainers and the top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 

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Most Android users in India do not get latest updates: Report
New Delhi : Over 70 percent of android smartphone users in India do not receive an update to the latest Android operation system (OS) or its latest features at the time of purchase, says a latest report.
 
According to the report released on Thursday by the market research firm CyberMedia Research (CMR), 64 percent of Android smartphones shipped in India in 2015 featured the ageing Android KitKat OS, which is nearly three years old. 
 
The study was conducted across 158 different smartphone brands and covered 1,476 device models.
 
"With increase in commoditisation of hardware features owing to competitive pressures, Smartphone vendors will need to start focusing on creating differentiation through user experience enabled by OS and software features," said Faisal Kawoosa, lead analyst (telecoms) CMR.
 
"Typically, a consumer nowadays needs to purchase a premium-priced smartphone to access the latest Android OS or software-enabled features," he added.
 
The key reason for the delay in sending updates to existing Android smartphones is that handset vendors prefer to launch new models, rather than focus on updating existing ones to provide a consistent user experience. 
 
"While iOS (Apple) users lead with 96 percent users updating the OS at least once, Android lags behind at an abysmal 38 percent," the findings showed. 
 
Interestingly, the major drivers for OS update are that 77 percent users seek performance improvements and 57 percent users want to explore new features.
 
The report titled "State of Mobile Operating System Adoption in India" was jointly released by CMR and CREO -- a Bengaluru-based consumer technology company.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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