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Here’s how companies can withstand digital disruption

New Delhi: In an increasingly digital world, making incremental changes to long-standing business models may not be enough. Established companies can win by addressing digital strategy’s dual imperatives – building new digital businesses while digitising legacy operations, suggests new research from McKinsey & Company. Digitised incumbents – companies that are more than 20 per cent digital and are launching new …

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Paytm invests Rs 250 crore to boost its travel business

New Delhi: Digital payments firm Paytm on Thursday announced to invest Rs 250 crore in its travel business over the next six months to scale up product and technology team and set up new business verticals. According to the company, owned by One97 Communications, it has sold over 100 million tickets within just three years of operations. “We continue to …

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BIZ SCAN

Handloom mela at Mapusa Panaji: Rajasthan Grameen Mela Fair an exhibition of handicrafts textiles and handloom from various parts of India is held at Mapusa Residency from Sept 13 to 29.  The exhibition contains many handlooms items such as Banaras Silk sarees, Lucknow Chikan work, Kantha work Silk Sarees, Cotton sarees, Pouchanpalli Handloom, Bahalpur Silk and material, Kalamkari works, Crosia …

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Apple’s communications head Steve Dowling quits

San Francisco: Apple communications head Steve Dowling is leaving the company in October after 16 years of service. According to a memo obtained by the Vox, Dowling has informed his staff at Apple that Phil Schiller will be managing the communications team on an interim basis. Dowling will be the third top C-Suite executive to have left Apple this year. …

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No rise in Ambani’s stake

New Delhi: Reliance Industries on Thursday clarified that promoter and chairman Mukesh Ambani has not acquired any new shares in the company and that his stake has not increased. This statement comes after the company had on September 17 through a ‘Disclosure under Reg/29(2) of Sebi (SAST) Regulations, 2011’ said that Reliance Services and Holdings Ltd (controlled by Petroleum Trust …

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GST charged on restaurant services should be delinked from room rates: TTAG

Panaji: Ahead of the two day Goods and Services Tax Council meeting schedule to begin from Thursday at a starred hotel in Kadamba Plateau, Travel, and Tourism Association of Goa (TTAG) have urged the government to ‘delink’ Goods and Services Tax (GST) charged on restaurants in-house to hotels from room rates. “Since November 15, 2017, restaurants in hotels having room …

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Saudi Arabia to restore output by end-September

Singapore : Oil prices extended their losses from the previous session on Wednesday, after Saudi Arabia’s energy minister said the Kingdom will restore lost oil production by the end of the month. But investors remained cautious of potential tension in the Middle East after the United States said it believes the attacks that crippled Saudi Arabian oil facilities last weekend …

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LIC assets over Rs 31,11,000 Cr

Panaji: On September 1, 2019 LIC entered 64th Year of its incorporation. LIC has grown from strength to strength be its customer base, Agency Network, Branch Office Network or New Business Premium. LIC is Serving 29 Crore Policies through 4851 Offices (Including 2048 Branches) 1,12,000 employees and 11,80,000 agents. Starting with initial capital of Rs 5 Cr. In 1956, LIC …

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TTAG delegation meet Union Tourism Minister

Panaji: TTAG delegation met the Union Tourism Minister Shri Prahlad Singh Patel and gave a representation which included demands like reduction in GST, problems faced by charter operators in obtaining landing slots and operational issues at the airport and CRZ relaxation from 200 meters to 100. The TTAG also suggested that the government should organise an international travel mart to …

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Govt scraps import duty on open cell TV panel

New Delhi: The government has scrapped import duty on open cell TV panel used to make television sets, as it aims to boost local manufacturing by lowering input costs for TV makers who have been complaining about a slump in demand. The decision to remove 5 per cent customs duty will help reduce manufacturing cost by around 3 per cent …

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