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<b>Maggi noodles ban sent disturbing message to investors: Swiss envoy</b>: The ban on Maggi noodles sent out a "disturbing message" to Switzerland's enterprises, raising questions about the implementation of India's regulatory framework, Swiss Ambassador Linus von Castelmur said. Maggi noodles is manufactured by Swiss MNC Nestle. It was banned for allegedly containing lead beyond the permissible limit. When asked about Maggi noodles ban, Castelmur said, "I think the ban was not justified, clearly. It could not be substantiated very clearly. That is something that is disturbing potential investors". (Reuters) (17/11/2015)
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<b>Ola provides ferry service in water-logged Chennai for free</b>: Taxi operator Ola has deployed boats along with professional rowers to rescue people in the waterlogged areas of Chennai to safer places. "Ola deployed boats in waterlogged and partially submerged areas on the basis of information from the Fire and Rescue department", Ola said in a statement. The boats were manned by professional rowers and also fishermen to rescue people and to provide food and drinking water free-of-cost. "We are working closely with local stakeholders to help ferry those stranded in water-logged areas.", Ola Business Head (Tamil Nadu), Ravi Teja said. (Twitter photo) (17/11/2015)
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<b>Porsche says Fast and Furious star Paul Walker was responsible for own death</b>: Two months after Paul Walker's daughter Meadow filed a wrongful death lawsuit against Porsche, the car company has revealed the actor was responsible for his own death. Porsche averred, "that Mr Walker knowingly and voluntarily assumed all risk, perils and danger in respect to the use of the subject 2005 Carrera GT, that the perils, risk and dangers were open and obvious and known to him, and that he chose to conduct himself in a manner as to expose himself to such perils, dangers and risks, thus assuming all the risks involved in using the vehicle. "Mr Walker's voluntary assumption of the risk should bar the plaintiff's recovery or, in the alternative, should reduce the plaintiff's right to recovery from PCNA in an amount equivalent to Mr Walker's fault." Meadow suit alleged that if the seatbelts were not flawed, Paul Walker may have been able to exit the vehicle before it caught fire." (Reuters) (17/11/2015)
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<b>India to have 402 mn Internet users by Dec-end: IAMAI</b>: The number of Internet users in India is expected to reach 402 million by December 2015, registering a growth of 49 per cent over last year, says a report by industry body IAMAI. About 306 million of these will access Internet from their mobile devices, up from 276 million in October this year, according IAMAI and IMRB. "While Internet in India took more than a decade to move from 10 million to 100 million and 3 years from 100 to 200 million, it took only a year to move from 300 to 400 million users," the report said. This number is expected to further surge to 462 million by June next year. The total Internet userbase stood at over 300 million in December last year, which grew to 375 million by October this year. (Reuters) (17/11/2015)
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<b>Hiring on a roll, 88% Indian cos to ramp up headcount: Survey</b>: The job market is gaining traction around the world, including India, as 88 per cent employers in the country are planning to up their headcount, a survey by recruitment firm Antal International says. According to the latest Antal Global Snapshot on hiring and firing trends covering more than 9,500 organisations in 30 key countries, job prospects for professionals and managers are continuing to improve. In India, 63 per cent of companies are currently hiring, up 10 per cent over last year, indicating that an improving Indian economy is fueling demand for qualified managers and professionals. Higher recruitment levels came as a big positive, with 88 per cent of organisations looking to increase their headcount. (Reuters) (17/11/2015)
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<b>CAD to be 1% of GDP in FY'16: Citi</b>: India's current account deficit (CAD) is likely to be about 1 per cent of the GDP in the current fiscal because of low crude prices and contained gold imports, says a Citigroup report. According to the global financial services major, CAD is likely to be about USD 20.6 billion (1 per cent of GDP) in 2015-16, as against USD 28 billion (1.4 per cent of GDP) last year. "Though it's still early to call the bottom on export contraction, we maintain our view of India's current account deficit narrowing to around 1 per cent of GDP in FY16 due to low crude prices and contained gold imports," Citigroup said in a research note. (Reuters) (17/11/2015)
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Under the new arrangement, sellers on Snapdeal, Shopo and Freecharge will be able to access working capital in a time efficient and cost effective manner to grow their businesses.
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<b>Videocon to raise Rs 641 crore through FCCBs</b>: Videocon Industries will raise USD 97.20 million (about Rs 641 crore) through five year Foreign Currency Convertible Bonds (FCCBs) due in 2020. In a BSE filing, Videocon said it has "launched issue of Foreign Currency Convertible Bonds convertible into ordinary equity shares, in exchange of a part of outstanding amount of existing USD 200,000,000 6.75 per cent." It further said: "Convertible Bonds due 2015, subject to the acceptance of the exchange offer by the requisite majority of the bond holders and subject to other statutory approvals." (17/11/2015)
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<b>Rs 242 cr AMRUT plan to address water logging in 25 cities</b>: Taking steps to tackle the problem of water logging, Kerala, Madhya Pradesh, Gujarat, Odisha and Mizoram propose to invest Rs 242 crore in construction of storm water drains for discharging flood waters in 25 cities in these states. The works would be undertaken under Atal Mission for Rejuvenation and Urban Transformation (AMRUT) action plans for 2015-16, according to a UD Ministry statement. The five states account for 82 Atal Mission cities.Other mission cities would be covered in subsequent years. (AP) (17/11/2015)
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Mutual Fund (MF) is an investment vehicle that pools funds from many entities for investing in securities……
