Ecommerce growth slugfest: Amazon claims 66%, Flipkart asserts 80%
Ecommerce growth slugfest: Amazon claims 66%, Flipkart asserts 80%
Homegrown e-commerce major Flipkart said the company has recorded over 80% growth in gross merchandise value (GMV) between April and September this year, in response to Amazon India’s claims of a h…

 
Venture Catalysts buys 10% stake in Chai Break for Rs5 crore
Venture Catalysts buys 10% stake in Chai Break for Rs5 crore
After the Venture Catalysts funding, Chai Break will look to expand to at least 10 more cities in east India with 15-20 outlets, say founders Aditya Ladsaria and Anirudh Poddar

 
DHL's e-commerce logistics arm to start India operations soon
DHL's e-commerce logistics arm to start India operations soon
DHL eCommerce, which has made investments in India since 2014 through parent DPDHLs Blue Dart Express subsidiary, will now have its own presence in Mumbai now.

 
'There is strong momentum in gold and jewellery sales'
'There is strong momentum in gold and jewellery sales'
Joy Alukkas, Chairman and Managing Director, Joyalukkas

 

 
Westlife Development gains as McDonald's to decide on east India partner soon
Westlife Development gains as McDonald's to decide on east India partner soon
Following the report, the stock rose 6.1 per cent to hit a high of Rs 388.80 on BSE.

 
How Indian ice cream brands are adopting coolest strategies as competition heats up
How Indian ice cream brands are adopting coolest strategies as competition heats up
The $1.5-billion domestic ice cream industry is now serious business, with popular homegrown brands showing up on the big boys radar.

 
What's in store for India's organised retail?
What's in store for India's organised retail?
Indian retail is likely to be characterised by key developments such as a GST-induced transition in favour of organised retailers and co-survival of offline and online players, among others.

 

Ports, Shipping & Oil cos losses to mount despite cut in bunker fuel GST to 5%; topline of shipping firms to fall by 2%

Despite the cut in GST for bunker fuel to 5% from earlier 18%, Indian shipping, oil marketing companies and ports will continue to feel the heat, as the fuel price would still be higher by 2-3% compared with Sri Lanka, Dubai and Singapore. Bunker fuel sales have already dropped by 50-60% for oil marketing companies between July and November, experts said. Shipping companies in India that are already under severe stress of economic meltdown of 2008, that took the Baltic Index and the charter rates to drop to an all time low - and never improved after that - see the 5% GST on bunker fuel as the last nail in the coffin. Read On ..

When the GST was implemented in India on July 1, bunker fuel was placed under the 18% bracket, which shocked the industry and led Sri Lankan bunker fuel sales to rise to 85,000 metric tonne/month in September compared with 72,000 metric tonne per month in August and around 65,000 metric tonne in July. Before July the sales in Sri Lanka ranged between 50,000-55,000 metric tonne/month.

The worst fears of Indian ports were proven right, that increase in fuel prices would force foreign run vessels to opt out to other countries located en-route to Trincomalee in Sri Lanka, Singapore or Fujairah (UAE) diminishing the marine bunker fuels demand at Indian ports.

Under the previous value-added tax regime that preceded the GST, bunker sales to foreign-bound vessels in India were deemed as exports. Only a few states taxed bunker sales to export vessels, even so, at 1.5-2% levels. To that extent bunkering at Indian ports are still costlier compared to the previous tax-regime and even after reduction from the 18% levels under GST.

Sri Lanka, UAE, Singapore or any other country in Asia levies no tax on bunker fuel oil.

According to data issued by Platts, after the 18% GST was imposed on July 1, Mumbai bunker fuel prices moved from a $15/meric tonne discount to Colombo price in June to $20.30/ metric tonne in July, and $23.64/metric tonne in August. The Mumbai-Colombo 380 CST bunker fuel spread hit a high of $29/ metric tonne in September, before it plunged to $4.35/metric tonne in October.

Anoop Kalavath, partner, indirect tax, at Deloitte India said, The shipping firms already facing losses are likely to see their topline affected by around 2% and their losses widened, if the GST on bunker fuel is not brought down to zero level. The impact is equally felt by the Ports, oil marketing companies their joint venture partners, who are also the global contractors, and the small and medium scale enterprises involved in the last mile connectivity work for the supply of the bunker fuel at the sea. Freight constitutes 40-45% of Any shipping companies total cost. An increase of 5% would impact the margins drastically.

"The reduction in tax to previous levels should not be seen from the tax collection point of view alone, but also its impacts on the industry in terms of job creation and job displacement. Bunker fuel sales for Indian marketing companies has already gone down by 60% and now the joint venture partners are also evaluating options. It will further shift the jobs to other ports outside India," Kalavath said.

India's GST Council has reduced the tax on the bunker fuel sales after the October 6 meeting in Guwahati to 5% from 18% earlier, however, the industry still wants it to be reduced to the pre-GST level to save the suffering Ports, oil marketing companies and even the shipping companies already under sever operational stress.

"Shipping companies margins are likely to be hit by 40-50% with an increase in 5% in GST on bunker fuel," an industry official said on conditions of anonymity.

- TradeBriefs Bureau


 


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The future arrives in the Gulf as the Future Cities Show season kicks off


The region is expected to see the launch of new, futuristic technologies at the Future Cities Show, to be held from April 9-11, 2018, that will change the way people live and work in urban environment

Dubai, UAE


The second edition of the Future Cities Show, that will take place in Dubai, UAE, from April 9-11, 2018, will set the tone for smart cities through the three pillars – sustainability, innovation, happiness and showcase the future of urban life. With a theme of achieving sustainability through innovations, the show will showcase the cities of the future by highlighting the latest and the most innovative technologies that will change the future.

 

As the worldwide smart cities movement gains momentum, Future Cities Show reflects and also presents the transformation of urban societies, infrastructure and environment that currently hosts more than 54 per cent of the 7.5 billion people and uses 75 per cent of the power generated.

 

A recent white paper, Evolution of Smart Cities and Connected Communities, co-sponsored by the Consumer Technology Association and the United Parcel Service (UPS), says, market value of smart cities is expected to jump from $14.85 billion in 2015 to $34.35 billion by 2020, representing a compound annual growth rate of over 18 per cent.

 

The white paper found that a key driver of smart cities growth is the ongoing trend of global urbanisation. “With 70 per cent of the World’s population forecast to live in cities by 2050, the need for sustainable, liveable world cities is essential for a prosperous future,” said the report.

 

More than 250 smart city projects are currently underway across 178 cities around the world, according to a new report from market research company Navigant Research, while hundred other cities are preparing to join the smart city movement.

 

Future Cities Show focuses on education, wellbeing, knowledge sharing, collaboration among government-private-universities-society, user-driven innovation, livability discussions, sustainable energy solutions, sustainable economic development and sustainable societal development to drive the wellbeing of all nations.

 

The three-day event, takes place within six months of the UAE’s announcement of the launch of a new cabinet portfolio – the Ministry of Artificial Intelligence and Saudi Arabia’s granting of ‘citizenship’ to Sofiya – a robot – the first country to make this move.

 

Earlier, Dubai set up the World’s first functional 3-D printed office in front of the Emirates Towers Hotel – marking the beginning of Dubai city’s journey towards becoming a smart city. The emirate will host the Museum of the Future by 2019 that will offer a glimpse of future technologies and products.

 

On top of these milestones, the introduction of electric vehicles, testing of driverless cars and the testing of the first flying taxi in Dubai marks the beginning of a new journey towards reinforcing & strengthening Dubai’s status as the smartest city in the world.

 

Soon, Dubai might become the first city in the Middle East to allow flying taxis to carry passengers from one point to the other – that could influence architects and engineers design buildings with multiple landing balconies or landing pads for flying taxis and transport regulators to design safe air routes for flying taxis to avoid head-on collisions.

 

Future Cities Show will be full of activities that include an exhibition that showcases innovative technologies and sustainable solutions as well as a conference that will discuss future technologies and how cities will be retrofitted with new sensors, energy saving systems, processes and change management.

 

Dawood Shezawi, Chairman of the Organising Committee of the Future Cities Show – says, “The testing and introduction of robots, drones and flying cars indicate one thing – the future has arrived. We will see unprecedented changes, disruptions and challenges as well as innovative solutions emerging that will create a completely new urban environment where technologies will dictate our life, work and activities.

 

“Future Cities Show will display, test, demonstrate and discuss future technology, Internet of Things and how they change the urban environment, systems and processes and help all stakeholders including – urban planners, architects, master-planners, engineers, scientists as well as consumers – see the future unfolding in front of their eyes.

 

“As we witness the unfolding of the Fourth Industrial Revolution (Industries 4.0) in front of our eyes that is fast disrupting traditional industries, systems and processes and paving way for internet, artificial intelligence, virtual reality, augmented reality and cloud-based solutions, it is important to understand how the future cities will shape up and more importantly, how lives will evolve in the smart or future cities.

 

Future Cities Show activities are based on the 17 Sustainable Development Goals (SDGs) set by the United Nations and adopted by 193 countries in September 2015. The show also incorporates the 10X Dubai directives which were set by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai. This is a radical programme that seeks to establish “X Labs” in every government entity and position Dubai 10 years ahead of the rest of the World.

 

Editor’s Note:

About Future Cities Show 

The second edition of the Future Cities Show is set to take place from the 9th to the 11th of April 2018 in Dubai, UAE. The show highlights the latest and the most innovative technologies, which could change the future.

 

The first edition of the Future Cities Show attracted 30 exhibitors and a large chunk of the 19,000 visitors visiting a number of exhibitions taking place concurrently at the Dubai World Trade Centre from over 141 countries.

 

The Future Cities Show is a great platform for local and international institutions from various industries to showcase their latest technologies which redefine the way we live. The show focuses on three pillars which are sustainability, innovation, and happiness.

 

Sustainability accounts for ‘what can be done now to ensure that the future generations can see the present that we live in’. This can be done via innovation as it is the key to bringing sustainable change in the working of the world. The combination of factors will lead to greater happiness in the society.

 

Future Cities Show 2018 brings together environmentalists, sustainability leaders, innovators, solution providers, healthcare practitioners, security vendors, energy consultants, manufacturers, builders, urban developers, architectures, investors, mayors, mobility players and students under one roof to interact, discuss and showcase solutions for a smart sustainable future.

 

For further information, kindly contact us:

Crissy Balatbat

Media & Marketing Manager

Annual Investment Meeting

PO Box            : 10161, Dubai, United Arab Emirates

Cell       : + 971 56 4034048

Tell       : + 971 4 3923232

Fax       : + 971 4 3923332

Email    :  crissy@aimcongress.com

Website: www.aimcongress.com

 

Mariam Mikhail

Public Relations Account Manager

Pan Asian Group

PO Box            : 39865, Dubai, UAE

Tel        : +9714-2281021

Cell       : +971562228535

E-mail   : m.mikhail@panasian1.com

 

The AEONIAN 2017 - Now an Unique Startup Event - Register Now

The AEONIAN 2017 with its rescheduled dates is getting overwhelming response. The event enables all startup attendees to meet leading SMEs aswell that complements the occasion. We would like to announce our association with #startupindia, Digital India, MSME Ministry that recognizes and rewards the startup community in India.

The AEONIAN will now be a 3 day event aiming at bringing all stakeholders of the startup ecosystem, all under one roof. From investors to companies, from seed funded to IPO startups, from students to startup founders, they will all be present across the 5 major categories of sub-events. The AEONIAN 2017 will be a combination of Startup Expo - AEONIAN Spotlight - StartUp Pitch - Conference & Awards in association with Deloitte India, NDTV and various media partners, StartUp ecosystem partners, Angel Investors, VCs, Incubators and accelerators. The event will be held at WTC, Mumbai on 22-24 February 2018.

A footfall of 3000+ startups, 300+ Investors, 200 exhibitors, 50 Startup Pitch Sessions and over 350 delegates for the Awards night are expected.

  • Startup Awards : 14 Categories x 4 segments (Seed, Series A, B & C) = 56 Startup Awards
  • Special Awards : 4 Awards
  • Total 60 Awards

Please note the dates for The AEONIAN Campaign schedule:



Event Format
  • 22 Feb 2018 : The AEONIAN 2017 ( Startup expo, Awards finalist presentation & Conference) + SME Expo
  • 23 Feb 2018 : The AEONIAN 2017 ( Startup expo & Pitch & Awards) + SME Expo
  • 24 Feb 2018 : Small Enterprise Business Awards 2017 ( SEBA - SME Expo, Conference & Business Awards) + Startup Expo

The expo Area will have 2 sections - the major section Hall 1 and 2 for the Startup booths and Hall 3 for SME stalls.

Startup Exhibitors will be allowed to exhibit FREE on the 3rd day - a value add to network with more investors and explore business opportunities from peer startups and corporate companies.

REGSITER NOW