Budget 2018-19

Current half-bn users can order rides if they downloaded the app before Sunday China’s cyberspace regulator ordered app stores to remove Didi Chuxing, dealing a major blow to a ride-hailing giant that just days ago pulled off one of the largest US initial public offerings (IPOs) of the past decade. The Cyberspace Administration of China announced the ban Sunday, citing serious violations on Didi Global’s collection and usage of personal information, without elaborating. That unusually swift decision came two days after the regulator said it was starting a cybersecurity review of the company. That effectively requires the largest app stores in China, operated by the likes of Apple and smartphone makers Huawei Technologies and Xiaomi, to strike  Didi App  from their offerings. But the current half-billion or so users can continue to order up rides and other services so long as they downloaded the app before Sunday’s order. The surprise probe and rapid decision by China’s po...

  Amazon internal documents show 35 of more than 400,000 sellers in India accounted for around two-thirds of its online sales in early 2019 It was early 2019, and senior Amazon.com Inc executive Jay Carney was preparing for an important meeting. The former press secretary to U.S. President Barack Obama, Carney was scheduled to talk with India’s ambassador to the United States in Washington, D.C. In Delhi, the Indian government had just announced foreign direct investment regulations that threatened to disrupt Amazon’s business in the world’s second most populous country. Before the meeting, Amazon employees prepared a draft note for Carney. The note, reviewed by Reuters, advised Carney what to say – and what not to say. He should highlight the fact that Amazon had committed more than $5.5 billion in investment in India and how it provided an online platfForm for 400,000-plus Indian sellers. But he was cautioned not to divulge that some 33 Amazon sellers accounted for about a third ...

  RedSeer said the first few days of this year’s online sale season saw a more explosive start compared to the last year- and is on track to meet its forecast of $4 billion by end of the event E-commerce giants Amazon, Flipkart, and Snapdeal have witnessed blockbuster festive season sales. The pandemic accelerated the shift to e-commerce, with an increasing number of consumers shopping online at a higher frequency. The online festive sales received a strong response from October 15-19. New estimates by RedSeer Consulting on Wednesday showed that $3.1 billion (Rs 22,000 crore) of goods were sold from brands and sellers in the first 4.5 days of the event. This means 77 per cent of RedSeer’s projected online sales were already achieved during the said timeframe. The firm had earlier projected total festive sales of e-commerce firms to cross $7 billion. RedSeer said the first few days of this year’s online sale season saw a more explosive start compared to last year — and was on track ...

  The fast-fashion player is encroaching on the territory of more established rivals like Zara and H&M MADRID/BEIJING (Reuters) – China’s Shein may be the biggest shopping site you’ve never heard of. The fast-fashion player is encroaching on the territory of more established rivals like Zara and H&M. It has become the largest, purely online, fashion company in the world measured by sales of self-branded products, according to Euromonitor. Nanjing-based Shein, founded in 2008, is aiming squarely at the “Gen Z” social-media generation, using influencers on Instagram and TikTok, and discount codes, to attract younger shoppers in an increasingly crowded fashion market. It offers low-cost styles, uploading hundreds of new designs to its app every week. The price for a dress is around half that of Zara, according to a recent Societe Generale price survey. “You can save money, which is important when buying clothes as the fashions change so quickly,” said Rebeca Rondon, a 23-year-...