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Top 10 business news today: Akshay Kumar’s Airlift tax free in UP, 20 smart city list unveiled, Mukesh Ambani and Azim Premji among world’s wealthiest, Ford Mustang to debut in India, more

Fri January 29 2016, 12:55 pm
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    1. 'Airlift' becomes tax free in UP: Bollywood superstar Akshay Kumar-led "Airlift" has been announced tax free in Uttar Pradesh. Akshay, 48, shared the news on his Twitter account and also thanked the UP chief minister Akhilesh Yadav. "Just been informed the Uttar Pradesh Govt. has declared #Airlift as Tax Free.Thank you to the young & progressive team led by @yadavakhilesh." The film, based on evacuation of Indians based in Kuwait, opened last week to rave reviews from critics and fans. (Image Source: Bollywood Hungama)

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    2. NDMC area to get Rs 500 cr funding for Smart City initiative: The New Delhi Municipal Council (NDMC) area, which is home to the high and mighty in the country, has been selected among the 20 cities of the Union Urban Development Ministry's Smart City initiative, enabling it to receive a funding of Rs 500 crore for various projects. Making its cut through a rigorous competition, NDMC area is among the 20 cities which were announced winners of the Smart City Challenge. However, NDMC consists of only 3 per cent of the area and population of the national capital. (Image Source: PTI)

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    3. Mukesh Ambani, Azim Premji, Shanghvi among world's 50 wealthiest: Three Indians - Mukesh Ambani, Azim Premji and Dilip Shanghvi - have made it to a global list of 50 wealthiest people that is topped by Bill Gates. According to a new list by Wealth-X in collaboration with Business Insider, Mukesh Ambani was ranked at the 27th place on the list with a net worth of USD 24.8 billion, while Azim Premji and Dilip Shanghvi were ranked at the 43rd and 44th place with assets worth USD 16.5 billion and USD 16.4 billion respectively. The list of top 50 wealthiest people in the world have a combined fortune of USD 1.45 trillion, nearly equal to the GDP of Australia, the report noted.

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    4. Ford Mustang to debut in India in 2nd quarter of 2016: US car major Ford plans to launch its iconic sedan 'Mustang' in India in the second quarter of this year. The company, which is present in India via a wholly-owned subsidiary, currently sells models like EcoSport and Endeavour in the country. "First time in 50 years we have right handed Mustang. We will launch this iconic model in India in second quarter of 2016," Ford India Managing Director and President Nigel Harris told reporters here. (Image Source: Reuters)

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    5. Reliance Retail starts sale of its 4G LYF devices: Reliance Retail has started selling three models of its own 4G smartphone brand LYF to compliment group firm Reliance Jio's services that are expected to be launched by March-April. The three devices -- LYF Earth 1, LYF Water 1 and LYF Water 2 -- have been priced in a price range starting from Rs 15,499 per unit to Rs 25,800 per unit. The three devices are also available at Reliance Digital stores. Earlier, Reliance Retail had launched the devices exclusively for RIL group employees in December. (Image Source: Reuters)

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    Air India: In a departure from its current practice, state-owned carrier Air India has decided that in the future, it will hire all pilots on contract, thus doing away with the permanent-employee status for them. Sources said that the airline is set to hire 532 pilots in the future and of these, 200-250 will be recruited in the current year. The practice of hiring pilots on a contractual basis was started last year when Air India recruited 70 pilots who are currently undergoing training. Now, the airline has decided to institutionalise this practice. [15-02-2016]

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    7. BlackBerry unveils Android-powered smartphone for Rs 62,990: BlackBerry on Thursday unveiled its first Android-powered handset 'Priv' in India for Rs 62,990, as it attempts to make a comeback in the highly-competitive domestic smartphone market. First unveiled in October, Priv combines BlackBerry's productivity, security and privacy features with Google's app store. The smartphone went on sale in the US in November for USD 699 (about Rs 47,000). (Image Source: Reuters)

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    The Amarillo Police Department released a statement today saying officers are now inside the store and that there is "no shooting ongoing at this moment (Reuters)

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    9. Flipkart partners with Udacity to hire graduates: E-commerce giant Flipkart on Thursday announced a partnership with online learning company Udacity to hire graduates based on capabilities they have built through Udacity's Nano degree programs. With the partnership, Flipkart would redefine the hiring process in the software industry based predominantly on personal interviews and referrals, the company said. Flipkart hired students based on their Nano degree projects and Udacity profiles, it said, adding, there were no in-person interview or group exercises.(Image Source: Reuters)

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    10. Facebook's market value surges $38 bln as mobile ad sales soar: Facebook Inc's market value soared by $38 billion in morning trading on Thursday, vaulting the company ahead of Amazon.com Inc, after the social networking service's quarterly results blew away expectations on every key measure. Facebook's stock jumped more than 14 percent to $107.95 after the company reported a blockbuster quarter on Wednesday, pushing the company's market capitalization over $300 billion. That made it the fourth most valuable technology company, overtaking Amazon, which was valued at about $290 billion ahead of its results later on Thursday. (Image Source: Reuters)

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