BookMyShow looks for Flipkart’s backing to combat Alibaba

A minority stake in BookMyShow to give Flipkart a play in the fast-growing online ticketing space and also an access to a high-spending loyal customer base

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Amid competition from deep-pocketed global players like Alibaba, India’s leading online ticketing platform BookMyShow is looking for a backing in its space from Flipkart, the country’s largest internet company.

While Flipkart BookMyShow Deal has been one of the few profitable internet companies in India, with a profit of Rs 3.1 crore on a revenue of Rs 248 crore in the year that ended March 2016, competition from rivals like Paytm has caused sales growth to slow.

To shield itself from cash-burning rivals, BookMyShow will sell a minority stake to Flipkart, a behemoth with a cash reserve of $4 billion. For the e-commerce major, a stake in BookMyShow will give it a play in the fast-growing online ticketing space and also an access to a high-spending loyal customer base.

Also Read : Latest Current Affairs

According to Livemint, which reported the story first on Monday, Flipkart is interested in outright ownership of BookMyShow, but talks have largely steered towards purchase of a minority stake in the company. Both companies have a common investor in Accel Partners, one of the oldest and reputed early-stage VCs in the country.

Flipkart has been an active investor in other internet businesses and its acquisitions like Myntra, Jabong and PhonePe have borne fruit. Myntra says it will become profitable at an earnings before interest, tax, depreciation and amortisation (Ebitda) level by March 2018, while PhonePe says it is the largest digital payments player on UPI.

While Flipkart is looking at categories like groceries to get customers to buy from it more often, the model will take time and significant investments over the next few years. On the other hand, online ticketing, already an established market in India, will give Flipkart the desired repeated purchases on its platform. Read More

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India appoints Gautam Bambawale as new ambassador to China

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Bambawale appointment comes at a time when India and China are trying to put behind the Dokalam stand-off

Seasoned diplomat Gautam Bambawale, India’s high commissioner to Pakistan, was today appointed as the country’s next envoy to China.

This was announced tonight by the external affairs ministry.

A 1984 India Foreign Service (IFS) officer, Bambawale is expected to take up the assignment shortly, the ministry said. He will replace Vijay Gokhale.

A deft hand in Sino-India relations, Bambawale opted to learn Mandarin Chinese as his foreign language and served in Hong Kong and Beijing between 1985 and 1991.

He was first the desk officer for China in the Ministry of External Affairs and served as director in the Americas Division of the ministry, responsible for relations with the US and Canada (1993-94).

He has also functioned as the Deputy Chief of Mission of the Indian Embassy in Beijing.

His appointment comes at a time when India and China are trying to put behind the Dokalam standoff and work on a “forward-looking” approach in their ties.

Aarushi murder case: Allahabad High Court to decide Talwars’ fate today

The court will pronounce its verdict on Rajesh and Nupur Talwar’s plea challenging their conviction by a CBI court for the murder of their daughter and domestic help in 2008

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The Allahabad High Court will on Thursday deliver its verdict on an appeal filed by Rajesh and Nupur Talwar challenging a Central Bureau of Investigation (CBI) court order convicting them for the murder of their daughter Aarushi and domestic help Hemraj in 2008.

A special CBI court in Ghaziabad had convicted the couple in the case on November 26, 2013, and awarded them life sentence the next day.

While the high court is likely to decide the fate of the Talwars in this high-profile case today, we look at the timeline of events in the Aarushi Talwar double Aarushi Murder Case since 2008 leading up to now:

2008

May 16: Aarushi Talwar, 14, daughter of a dentist couple Rajesh and Nupur, is found dead with her throat slit in her bedroom at their Noida home. The family’s missing domestic help, Hemraj, becomes the prime suspect.

May 17: Hemraj is found dead on the terrace of the Talwars’ flat. The door of the terrace is found to be locked from inside.

Also Read : Latest Current Affairs

May 18: Noida police’s preliminary investigation suggests the murders were conducted with surgical precision. An inside job is suspected.

May 23: Investigating agencies suspect a case of honour killing. Rajesh Talwar is arrested for the double murder.

May 31: The Noida Police hands over the case to CBI.

June 13: Rajesh Talwar’s compounder Krishna is arrested. The domestic help of Rajesh Talwar’s friend and his neighbours are called for questioning.

June 20: CBI conducts Lie detection test on Rajesh Talwar.

July 12: Ghaziabad court gives bail to Rajesh Talwar after CBI fails to provide evidence. CBI calls it a “blind case”.

2009

September: Forensic reports show most of the evidence taken from the crime scene were tampered with. Read Full Story >>>

This is what makes Amitabh Bachchan the hot brand that he is, even at 75

Even as he turns 75 today, Amitabh Bachchan is one of the richest actors and one of the most in-demand endorsers in Bollywood

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Everyone is looking for the Don — the original one in Bollywood. And that is with good reason. In the fickle business of stardom, Amitabh Bachchan, who turns 75 today, has managed to remain relevant, anchoring Kaun Banega Crorepati, starring in films, and endorsing products.

Currently, he is one of the busiest actors in the country. After he is done shooting for KBC for Sony TV, he will be on the sets of 102 Not Out — a feature film in which he plays Rishi Kapoor’s father. It is expected to hit the screens next year. According to the latest Forbes’ list of richest actors in the country, he is ranked nine, with earnings of $9 million. This puts him ahead of Ranbir Kapoor (earning $8.5 million). He is the only one on the list above 60 years of age.

While his last film Sarkar 3 (2017) bombed, producers believe he can still hit the jackpot if the content of a film is good, such as Piku (2015) or Pink (2016). That’s the reason he still commands an attractive fee of Rs 7-10 crore per film, according to analysts.

Age is no impediment to his work as an endorser, either. Bachchan is the first choice for many corporate brands and also for governments looking to push social messages. Currently, he endorses 10 brands — ranging from inner wear (Lux Cozi), mobile phones (One Plus), jewellery (Kalyan Jewellers), air conditioners (LLoyd), to e-commerce sites (Just Dial), to name a few.

Bachchan is also the brand ambassador for the goods and services tax.

Companies are happy to fork out Rs 2 crore a day (most companies generally hire him for three to five days), because they know his magic will work. So what makes him tick at 75, when most stars are content with a Lifetime Achievement Award? (He has already got the coveted Filmfare Lifetime Achievement Award.)

Sam Balsara, chairman of Madison World, one of the leading advertising firms in the country, said, “He (Bachchan) brings two key elements to the brand: Statesmanship and maturity through his iconic status, which no other cricket or Bollywood celebrity can match. He brings credibility to the brand. Read More

No firecrackers in Delhi-NCR this Diwali as SC bans sale until Nov 1

The bench said they wanted to see the impact of a cracker-free festivity at least in one Diwali

Photo: Shutterstock

Latest Current Affairs : The Supreme Court on Monday ruled that there will be no sale of firecrackers during Diwali, as it restored a November 2016 order banning the sale of firecrackers and stocking of firecrackers in Delhi and National Capital Region.

A bench headed by Justice A K Sikri, while restoring the order, said: “We should see at least in one Diwali the impact of a cracker-free festivity.”

However, the court said that the September 12, 2017 order lifting the ban on the sale and stocking of firecrackers in Delhi NCR will be back into effect from November 1.

Asus Zenfone 4 Selfie: A mid-range smartphone with good dual front cameras

Priced at Rs 14,999, the phone is superb for selfie lovers, but its overall performance and battery disappoint

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The concept of front camera in phones dates back to the time when mobile phone makers were toying with the idea of internet-enabled devices with video call features. But the front camera’s journey has come a long way since: What used to be a video camera with pixelated output is now much more advanced and packed with robust features to meet millennials’ growing demand for tools that help them stay updated on social media platforms.

Taiwanese electronics giant Asus is among the smartphone makers that have taken the front camera game very seriously and are innovating to make it even better. With the announcement of the Zenfone 4 Selfie series, the company has brought to the table two smartphones with dual selfie cameras – the Asus Zenfone 4 Selfie Pro and Asus Zenfone 4 Selfie (dual camera). Also announced recently was an entry-level smartphone with software-based enhancements for the front camera.

Business Standard reviewed the dual-front-camera variant of the Zenfone 4 Selfie to test its camera capabilities, besides the overall smartphone performance. Here are our observations:

Row over Amit Shah’s son: Rs 100-cr defamation suit and 10 developments

The Congress, CPI(M), and the AAP have sought an inquiry into allegations against Jay Shah

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A political storm hit the Narendra Modi-led government and the Bharatiya Janata Party (BJP) after a news website reported that a company run by party chief Amit Shah’s son, Jay Amit Shah, recorded a 16,000-times increase in turnover in only a year after Modi became the Prime Minister and the senior Shah the party president. In a statement that the BJP released on Sunday evening, Jay said he would be filing civil and criminal defamation cases against the news website’s owners, editor, and the author of the article in Ahmedabad, where he runs his business, and sue them for Rs 100 crore in damages.
The Congress, CPI-M, and the AAP on Sunday sought an inquiry into allegations against Jay Shah and a company linked to him. (Read all about the political storm kicked up by the report on Amit Shah’s son.
Responding to the article, the BJP rubbished the allegations and Jay Shah issued a statement saying the article carried by the website, The Wire, had made “false, derogatory and defamatory imputations” against him. (Read more about how BJP responded to the article)
These developments came over a report, written by Rohini Singh in The Wire, detailing the growth of Jay Shah’s company, Temple Enterprise Private Ltd, from revenues of Rs 50,000 in 2014-15 to Rs 80.5 crore in 2015-16.
The controversy comes at a politically significant moment with election to the Gujarat Assembly barely 60 days away, and the winter session of Parliament scheduled to start in the first half of November.
Here are the top 10 developments
 
 
1) Shah Jr accuses website, author of defamation: Jay Shah on Sunday refuted the story alleging that his private business rose to an astronomical level after the BJP came to power at the Centre and called it “false and derogatory”. In a press statement issued hours after the website, The Wire, released the story, Jay Shah said: “The article makes false, derogatory and defamatory imputation against me by creating in the minds of right-thinking people an impression that my business owes its ‘success’ to my father Shri Amitbhai Shah’s political position.”