Moody's: Rules curbing profit in alcoholic drinks market </br><br> Restrictive regulations, including progressive taxation and pricing controls are curbing profit growth in alcoholic beverages market, while keeping high barriers for new entrants in the country, says a report. Global research major Moody's in a report said the ongoing high barriers for new entrants would favour European beverage makers already established in India. "We believe India's alcoholic beverage market has strong long-term growth potential for European producers. This is supported by a number of factors, including our expectation that India's economic growth will continue to outperform that of its peers in 2015-16," Moody's Investor Service said. In India, alcohol production, distribution and sales are regulated by each state. The different regulations and existence of central state tax (CST) payable on goods moving from one state to another are the biggest limit on growth, it said. Moreover, states set rules on alcohol consumption, set the drinking age and also control distribution and pricing. (PTI) (29/07/2015) 
Will not endorse fairness products, says Anushka Sharma </br><br> At a time when some well-known names in Bollywood have no qualms about endorsing fairness creams, actress Anushka Sharma says she would never promote such products. "I would not endorse products that propagate racist and sexiest (beliefs)….and propagate social taboo. I don't want to endorse products that propagate fair skin and all. I will not propagate anything that says this is right or wrong," Anushka told reporters at an event here this evening. Leading shampoo brand Pantene has appointed Anushka as their brand ambassador and the 27-year-old actress is happy and proud to be associated with the hair care product owned by FMCG major Procter & Gamble. (PTI) (29/07/2015) 
Smartphone users spend 169 mins daily on their devices: Vserv </br><br> Smartphone users in the country spend an average 169 minutes (about three hours) per day on their devices, a report by mobile advertising company Vserv said today. The smartphone user persona report (SUPR) by Vserv is based on an automated usage data collection from over 12,000 smartphone users in India, over a three month period. According to the report, the Indian smartphone user base is growing at a 26 per cent CAGR to reach 234 million by 2017 from 74 million in 2013. The boom in the Indian smartphone market, is primarily being propelled by Indians under the age of 25 years, with the report highlighting that 63 per cent users fall in that age bracket. (PTI) (29/07/2015) 
Maruti Suzuki DZire crosses 10 lakh sales mark in India </br><br> Country's largest carmaker Maruti Suzuki India (MSI) today said sales of its compact sedan DZire have hit the 10 lakh mark in the domestic market. Launched in 2008, Maruti Suzuki DZire has been a category leader and has helped MSI strengthen its presence in the entry sedan segment. With this milestone, Swift DZire now enters the elite million club comprising models such as Alto, Swift and Wagon R, the company said in a statement. Commenting on the development, MSI Executive Director, Marketing and Sales, R S Kalsi said: "DZire is a complete package. Its refreshed looks, rich equipment list, enhanced fuel efficiency, have been warmly received by customers and have enabled us to strengthen sales and enhance share in a tough market." (PTI) (29/07/2015) 
Maggi noodles ban brings first loss in 30 years to Nestle India </br><br> Hit by ban on its Maggi instant noodles, FMCG major Nestle India today reported a standalone loss of Rs 64.40 crore for the second quarter ended on June 30, 2015 — its first quarterly loss in over three decades (rpt) three decades. The company had posted a net profit of Rs 287.86 crore during the April-June quarter of financial year 2014-15, Nestle India said in a statement. The company's total income from operations during the period under review declined 19.52 per cent to Rs 1,957.01 crore as against Rs 2,431.97 crore in the same period of previous year. "Net sales for the quarter have decreased by 20.1 per cent largely due to the impact of the Maggi noodles issue. Net domestic sales decreased by 20.6 per cent," Nestle India said. "We have not posted a loss in over three decades," a company spokesperson said. (PTI) (29/07/2015) 
Gold may plunge to Rs 20,500 level: Ind-Ra </br><br> Gold prices in the country may even dip to Rs 20,500 per ten grams, a level last seen about 5 years ago, in case of a rate hike by US Federal Reserve later this year, according to India Ratings and Research (Ind-Ra). Maintaining the negative outlook on gold prices for the current fiscal, the rating agency said domestic rates may decline and range between Rs 20,500-Rs 24,000 per 10 grams if the US Fed hikes interest rates, as widely expected. It also added global prices of the precious metal could drop and stay in the range of USD 900-1,050 per ounce. "Till such time the uncertainty around global growth is reduced, the chances of international gold prices falling below USD 900 ounce corresponding to pre-2009 levels are remote," Ind-Ra said. The prices of gold, which is considered a hedge against an economic uncertainty, may weaken with the expectation of an increase in the US real interest rates. (PTI) (29/07/2015) 
Magicbricks-Google online homes sale fetches over 500 bookings </br><br> Realty portal Magicbricks today said it has achieved a sales booking of over 500 residential properties worth about Rs 300 crore in its 10-day online home festival organised in collaboration with Google. The 'Great Online Homes Festival' (GOHF) was organised by Magicbricks, Google and Group M. "The 10-day property fare generated more than 50 lakh visits," it said, adding that the event generated a total 9 million page views, resulting in property sales of Rs 300 crore and 500-plus bookings. (PTI) (29/07/2015) -
Representative Image: GM spokesman Jim Cain said that the company would continue to defend the remaining claims.(Reuters)
Delhi-NCR housing sales drop 50%; new launches fall 68% </br><br> Housing sales in Delhi-NCR fell by 50 per cent during first six months of this year to 14,250 units on low demand due to high prices and uncertainty over project delivery, property consultant Knight Frank said today. New home launches fell by 68 per cent to 11,360 units in January-June 2015, from 35,500 units in the first half of last year. Unsold inventories in Delhi-NCR stood at nearly 1.9 lakh homes, which will take real estate developers 5 years to offload at current sales velocity. "NCR residential market stares at free fall. Performance has been dismal. NCR is the worst market with 5 years of unsold inventories," Knight Frank India Executive Director, North and Capital Markets Rajeev Bairathi told reporters while releasing half yearly report on Indian real estate market. On housing prices, he said the average rates have increased by a nominal 3 per cent, but the effective price of transactions have gone down considering inflation as well as freebies and staggered payment plan offered by the developers. (PTI) (29/07/2015) 
Cabinet approves Rs 20,000-cr infra investment fund </br><br> The Union Cabinet today approved creation of a Rs 20,000-crore National Investment and Infrastructure Fund (NIIF), a sort of sovereign fund, for development of infrastructure projects, including the stalled ones. The decision to set up the fund was taken at the meeting of the Cabinet headed by Prime Minister Narendra Modi, sources said. The NIIF, sources said, is being established with an aim to maximise "economic impact" mainly through infrastructure development in commercially viable projects, both green field and brown field, "including stalled projects". The fund could also consider funding nationally important projects in the manufacturing sector. The initial authorised capital of NIIF would be Rs 20,000 crore, which will be raised from time to as decided by the Finance Minister. The government would contribute 49 per cent of the subscribed capital of NIIF. The Fund would also solicit equity participation from strategic anchor partners.(PTI) (29/07/2015)
e-Aadhaar app launch in India: Update your date of birth, address and phone number instantly with the upcoming all-in-one app soon
