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Muthoot Group to expand its education business

Aiming to expand its education business, gold loan company Muthoot Group today said it will open a school in the city.

The new institution in Delhi, Paul George Global School, will be ready for the academic session 2015, Muthoot Group said in a statement.

Set up under the aegis of St George’s Education Society, admissions process will begin from December 2014 for the academic year 2015.

Commenting on this, Muthoot Group chairman M G George Muthoot said the establishment of the school is another step taken by the group towards attainment of its mission of spreading the cause of progressive and value-based education.

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Zomato to enter delivery business soon

In an attempt to boost its revenues, online restaurant discovery site Zomato is planning to start delivering food soon.

According to sources, Zomato plans to start the service in another few weeks and has carried out some third party transactions on a pilot basis.

At present, Zomato allows consumers to read menus across restaurants in 24 Indian cities but a consumer has to still make phone calls to the restaurant to place an order.

Deepinder Goyal, Founder of Zomato, was not available for a comment. In the past, Goyal had always maintained that the company will never enter into online food ordering business. The reason was lack of customisation, technological issues and poor logistics. However, India has witnessed the emergence of several online food ordering platforms such as Foodpanda, Tastykhana, JustEat and JustDial. These portals have not only been able to bring on platform thousands of restaurants and consumers but have also attracted a few international investors thus proving that such a model would work among the Indian consumers.

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Zee Entertainment, United Spirits in focus on Nifty rejig

Zee Entertainment Enterprises will replace United Spirits in the 50-share CNX Nifty index from 19 September 2014.

Reliance Industries (RIL) annnounced that the Shale Gas industry, in North America has grown exponentially in the past 5 years. As a result Ethane has become the dominant feedstock for crackers replacing liquids. Reliance’s investments in Shale Gas and its existing crackers portfolio in India are a natural fit for sourcing Ethane from North America and shipping it to India to attain long term feedstock competitiveness.

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Asia shares slip as China PMI disappoints

Asian shares came under pressure on Thursday as a disappointing survey on Chinese manufacturing stoked concerns about the regional giant and overshadowed better news from Japan.

The HSBC/Markit Flash China Manufacturing Purchasing Managers’ Index (PMI) fell to 50.3 in August from July’s 18-month high of 51.7, badly missing a Reuters forecast of 51.5.

Investors reacted by selling the Australian dollar, often a used as a liquid proxy for bets on China, while shares in Shanghai dropped 0.5%.

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SpiceJet flies past Jet to number two rank

Fuelled by a slew of discount offers and in spite of an increasing financial burden, low-cost carrier (LCC) SpiceJetbeat Jet Airways to become the second-largest domestic airline in July. Its share of the market in the month stood at 20.9 per cent, compared with the Jet Airways-JetLite combine’s 19.6 per cent.

The price war playing out in Indian aviation space and the impact of SpiceJet’s frequent discount offers on other LCCs could be gauged from the fact that the market share of leader IndiGo also declined marginally to 30.7 per cent in July from 31.6 per cent the previous month. The share of GoAir, another LCC, also saw a slight decline, from 10.1 per cent to 9.2 per cent.

In occupancy, SpiceJet’s 79.4 per cent (against 67.9 per cent in July last year) was at least 10 percentage points higher than those of GoAir and IndiGo.

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Aussies starting to switch off from work technology

AUSTRALIANS are starting to put limits on the intrusion of work technology into their private lives, according to new research.

Microsoft and Ipsos has released a white paper entitled ‘Life on Demand’ that suggests while technology’s march into every aspect of our lives continues unabated, we are now consciously setting limits.

Interestingly the cyber generation, the so called millennial’s aged between 18-35 years who have grown up with the internet are spearheading the call for a new phase of tech-etiquette and reinstating some balance in their lives.

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