Wednesday, January 23News That Matters

India

India’s oil demand growth rate to eclipse China’s

India’s oil demand growth rate to eclipse China’s

India, Market
India's oil consumption is expected to 7-8 per cent this year, outpacing China's demand growth for the third consecutive year, as impact of demonetisation is likely to be short-lived, according to Platts. LPG and transport fuels demand will rise, while new petrochemical projects would a boon for naphtha demand. "The dramatic rise in India's oil demand shows no signs of faltering... the country will remain a driver of Asian growth in 2017. The cash crunch following move to demonetise 86 per cent of currency is expected to "temporarily dampen the country's appetite for oil products in the first quarter, or maybe a little longer," it said. "But gains in oil demand that the country is set to achieve from the 'Make in India' initiative -- which aims to raise the share of manufacturi...
Amazon seeks government permission to run mystery wireless tests in rural washington

Amazon seeks government permission to run mystery wireless tests in rural washington

Business & Corporate, India
Amazon is preparing to test experimental wireless communications technology, including mobile devices and fixed-base stations, in rural Washington and Seattle, the company disclosed in government filings this week. The filings do not specify what the tests would be for, but they hint at a new type of technology or wireless service, noting that the project would involve prototypes designed to support "innovative communications capabilities and functionalities." Even more intriguing is that Amazon listed Neil Woodward as the main contact on the filings. Woodward, a retired NASA astronaut who joined Amazon in 2008, is now a senior manager for Prime Air, the team in charge of Amazon's drone-delivery effort, according to his LinkedIn page. That suggests the tests could involve some kin...
Air India reserves seats for women

Air India reserves seats for women

India, Tours & Travels
The Press Trust of India (PTI) reports that the national carrier will set aside six seats per aircraft for women on all its domestic routes from next week. The third row of economy class – three seats either side of the aisle – would be designated for female travellers. This applies to the airline’s domestic flights operated using its fleet of Airbus A320 aircraft. The move comes into force on 18 January 2017. The policy only applies to solo female travellers, and not to women travelling with other family members.
Paytm’s founder is on a mission to change the banking business

Paytm’s founder is on a mission to change the banking business

Business & Corporate, India, Market
“The mobile wallet will become a part of our payments bank business,” Vijay Shekhar Sharma told this reporter in December. Sharma is perhaps the biggest beneficiary of prime minister Narendra Modi’s demonetisation business. Paytm from a payments startup spiraled up to become a household name as India faced its biggest ever cash crunch. To its user’s respite, the Paytm mobile wallet has become the biggest alternative for cash. Millions of small merchants and first time users downloaded the Paytm app, and used it to buy everything from tea, grocery, vegetables and fill fuel in cars. But, Sharma is far from being content. In fact, he sleeps less, works over 16 hours in a day, holds more meetings, and is already preparing for his next big “bang”. In the next five days, in its bigge