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Tag: business

Discount brokers expand business on data, Aadhaar KYC

Discount brokers expand business on data, Aadhaar KYC

Finance
CHENNAI/MUMBAI: Discount brokers — the low-cost, no-frills broking houses — have seen a phenomenal growth in the last two years on the back of the Aadhaar-enabled e-KYC process, launch of high-speed data services at low cost by Reliance Jio, and the five-year old bull market. The growth has been so strong that, as of fiscal 2018-end, Zerodha — an eight-year-old tech-driven startup in the broking space — became the third-largest in India in terms of number of customers, behind ICICI Securities and HDFC Securities. It ranked 16th on the list two years ago, and 34th five years ago. In the league table, it’s ahead of D-Street’s old horses like Sharekhan, Axis Securities, Kotak Securities, Angel Broking and Motilal Oswal Securities. Zerodha and peers like Upstox, Samco and SAS Online have seen
Economists, business owners hopeful after inter-Korean summit

Economists, business owners hopeful after inter-Korean summit

World
SEOUL, April 29 (UPI) -- South Korean economist have cast rosy prospects for the future, after the two Koreas reached a landmark agreement on Friday to pursue the full denucearization of the Korean Peninsula, an end to war, and improved relations between the two sides.A survey conducted by Maeil Business Daily on 50 economy and business experts found 82 percent viewed the inter-Korean summit positively. Nearly half of them said the results were good, and 36 percent said the results were "Very good." Only three experts were disappointed with the outcome of the summit.While the two Koreas agreed to cooperate for the peaceful and prosperous co-existence of the South and North, through easing military tensions and various government and civilian exchanges, the agreement did not include economi...
Business groups welcome customs union pledge

Business groups welcome customs union pledge

Business
Business groups have broadly welcomed Jeremy Corbyn's backing for a customs union with the EU after Brexit - but remain sceptical about the Labour leader's wider agenda.The CBI said Mr Corbyn's position put "jobs and living standards first", though it remains troubled by the prospect of the nationalisation of key industries should Mr Corbyn enter Downing Street.Other private sector organisations also welcomed - with their own caveats - Mr Corbyn's pledge to negotiate a "new and strong relationship with the single market that includes full tariff-free access".The position outlined by the Labour leader piles pressure on Theresa May as she faces a potential rebellion from members of her own party who oppose her commitment to leaving the union.It also earned a sharp response from former Chance...
The World Bank’s “ease of doing business” report faces tricky questions

The World Bank’s “ease of doing business” report faces tricky questions

Finance
HOW many days does it take to correct a misleading newspaper interview? Four, in the case of Paul Romer, the World Bank’s chief economist. On January 12th a surprising article in the Wall Street Journal alleged that one of the bank’s signature reports—on the ease of doing business around the world—may have been tainted by the political motivations of bank staff. The story was based on an interview with Mr Romer, who pointed out that Chile’s ranking in the yearly report had dropped sharply during the presidency of Michelle Bachelet, a left-leaning politician who took office for the second time in 2014. Chile sank so heavily not because doing business had become harder, but because the bank had repeatedly changed its method of assessment.That method mostly entails answering measurable questi
Russia’s dysfunctional funeral business gets a makeover

Russia’s dysfunctional funeral business gets a makeover

Finance
THE calls began shortly after Yulia’s grandmother died. The undertaker offered help arranging the funeral, for 47,000 roubles ($ 800) in cash. She then travelled to Moscow’s Khovanskoe Cemetery, where she was offered a discount on a gravesite—150,000 roubles off—if she could bring cash within three hours and sign a receipt saying she had paid half that amount. Yulia (whose name has been changed) and her family gave in. “We knew we were paying a bribe, but what else could we do?”To bury a loved one in Russia often means entering an underworld of corruption and red tape. The myriad goods and services needed, from preparing the body for burial to funeral arrangements to carving a headstone, all represent opportunities for extortion in a largely informal market. “Instead of a funeral as a comm