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By Hita Gupta Published: August 2, 2017 Brick-and-mortar retailers such as Puma, Ray-Ban, Max, Fossil, Arrow and Flying Machine are expanding into the $20 billion Indian e-commerce industry to build their presence in the online market. This calls for specialisation in integration of online and offline commerce and a seamless supply chain. Ace Turtle, an omni-channel commerce enabler for such businesses, launched its operations in 2013 to help these brands with online-offline solutions. Ace Turtle ensures consistent supply across online and offline retail channels for its clients. With optimised omni-channel fulfilment, retailers have the liberty to choose if an order should be picked up from the retailer’s offline store or its warehouse, Nitin Chhabra, co-founder and CEO, Ace Turtle said. It allows optimisation that reduces complexities and logistics costs for omni-channel distribution. Rubicon, Ace Turtle’s proprietary platform, gives clients an overall view of the their inv...

By:  FE Bureau  | New Delhi |   Published: August 2, 2017 The Central government on Tuesday told the Supreme Court that it has set up a 10-member committee to look into the data protection framework in the country. The panel, headed by former SC judge BN Srikrishna and also comprising UIDAI CEO Ajay Bhushan Pandey and Vidhi Legal founder and research director Arghya Sengupta as its members, will identify key data protection issues, evolve principles on it, recommend methods of addressing them and will also suggest draft data protection Bill. The panel was set up to ensure growth of the digital economy as the government felt keeping personal data of citizens secure and protected is of utmost importance, additional solicitor general Tushar Mehta told a nine-judge constitution bench headed by Chief Justice JS Khehar.Mehta, who was appearing for UIDAI, said the government has notified setting up the panel a day ago. The ASG, appearing for UIDAI, maintained that...

By:  FE Bureau  | Ahmedabad |   Published: August 2, 2017 The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Tuesday admitted the insolvency petition against ABG Shipyard filed by ICICI Bank under the Insolvency and Bankruptcy Code (IBC). The bench has appointed Sundaresh Bhat of BDO India, as the interim resolution professional (IRP).The company owes banks close to `10,000 crore, of which ICICI Bank alone had loaned about Rs 4,500 crore. With the NCLT admitting ICICI Bank’s petition against ABG Shipyard, the company’s board of directors will be dissolved. Under IBC, the IRP gets 180 days to submit a restructuring plan for the company and the timeline can be extended by another 90 days. If the company fails to come up with a solution within the specified time, it would be liquidated. The resolution plan will have to be approved by the committee of creditors by a 75% majority and submitted to the NCLT. ABG Shipyard is part of the 12 larg...

Boby Kurian  Aug 2, 2017 Tuhin Parikh waited for last decade's real estate party to go bust before investing big dollars to create the largest ownership of office buildings globally. Since then, the 44-year-old senior managing director at Blackstone — the world's biggest private equity firm and the most influential real estate investor — has aggregated a 100-million-sqft portfolio in India, which is almost 12 times the size of the Bandra-Kurla Complex or 16 times bigger than Nariman Point, both business hubs in the country's commercial capital, Mumbai.  Parikh struck acquisitions, joint ventures and made strategic investments to build the India portfolio that dwarfs goliaths like Boston Properties and Vornado Realty in the US. Parikh and Blackstone virtually scripted a gold rush into the country's rent-yielding office spaces, which saw blue-chip investors and sovereign wealth managers like Brookfield Asset Management and Qatar Investment Authority stream in....

By Harmeet Shah Singh, Rahul Kanwal Aug 01, 2017 India's intelligence establishment is moving swiftly to choke off every source of support to perpetrators of trouble in the Kashmir Valley, zeroing in on suspected conduits for terrorist funding, highly-placed officials said. According to most-senior intelligence officials, the probe into the bankrolling of the unrest has widened following India Today's scathing expose of the Hurriyat's Pakistani financing. Seven separatist leaders have already been arrested. Under the radar now are various ISI-backed businesses funnelling funds to separatists and terrorists. A Srinagar businessman, Zahoor Watali, tops the list of alleged financers of Kashmiri troublemakers, highest-ranking intelligence officials told India Today. A mover and shaker of Kashmir's high society, Watali is resident of Srinagar's Baghat Barzulla neighbourhood. He's known for his proximity to political leaders across the spectrum, ...

Written by  Praveen Swami  New Delhi | Updated: August 2, 2017 Four weeks before he was shot dead in the small southern Kashmir village of Harkipora that had been his home for five years, a poem hailing the Lashkar-e-Taiba’s seniormost commander in the state appeared on online jihadist chat groups: “on the day of judgment”, it reads Urdu arguably more fired by passion than skill, “your face will shine like the moon, and the roads will be paved with a carpet of eyelids”. Emblazoned over Abu Dujana’s image, the panegyric hailed the Karachi jihad commander’s decision to join breakaway Hizb-ul-Mujahideen operative Zakir Bhat, also known as Zakir Musa, in forming the organisation just announced to be  also known as Zakir Musa, in forming the organisation just announced to be al Qaeda’s fledgling unit in the state. For the most part, media accounts of Dujana have focused on his career in the Lashkar, with which his relationship had irrevocably broken by the time of his killi...

By:  Reuters  | Singapore | Published:August 2, 2017 7:54 am Oil fell on Wednesday, with rising US fuel inventories pulling US crude back below $50 per barrel, while ongoing high supplies from producer club OPEC weighed on international prices. US West Texas Intermediate (WTI) crude futures were at $48.85 per barrel at 0046 GMT, down 31 cents, or 0.6 percent, from their last settlement. That came after the contract opened above $50 for the first time since May 25 on Tuesday. Brent crude futures, the international benchmark for oil prices, were trading down 30 cents, or 0.6 percent, at $51.48 per barrel. The American Petroleum Institute (API) said late on Tuesday that US crude stocks rose by 1.8 million barrels in the week ending July 28 to 488.8 million, hitting hopes that recent inventory draws were a sign of a tightening US market. In global markets, prices were weighed down by a survey this week that showed production by the the Organization of the Petroleum Exporti...