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Solar doom for Indian firms, boon for Chinese entities

Some of India’s biggest solar equipment makers are facing financial collapse, priced out by Chinese competitors as prime minister Narendra Modi’s government prioritises cheap power over local manufacturing despite his ‘make in India’ push.
Though president Donald Trump is pulling the United States out of the Paris accord on climate change, India is sticking to its huge renewable energy programme. That has created a multi-billion-dollar market for Chinese solar product makers, who are facing an overcapacity at home and steep duties in Europe.

Modi e-car push to boost SoftBank

SoftBank Group is in talks with the Indian government to facilitate the use of renewable energy like solar to charge electric vehicles in the country, a senior executive at the Japanese group’s local unit told Reuters.
India is considering electrifying all its vehicles over the next 15 years, a plan that could boost SoftBank’s solar ambitions in the country if the government adopts renewable energy to charge the vehicles.

Travel packages to be sold on social media

For the travel industry, social media is becoming a significant lead generator and content provider. With airline companies going big on social commerce, soon travel packages will be available on social networking sites.
Social media sites like Facebook, Twitter and Pinterest are getting bigger in social commerce, travel providers hope that social media will soon have a larger role to play in selling travel packages.

Millennials prefer travelling with family

Going on a solo travel would be a fad among the millennials globally. But Indian millenials are more family-oriented. Majority like travelling with their family members who belong to different generations, finds a study.
Over 50 per cent of Indian millennials want to spend quality time travelling with their multi-generational fa­m­ily and 42 per cent enjoy travelling with their partner. Friends and parents come next in the list and only 7 per cent enjoy travelling alone, finds the survey by online travel company Expedia.

SEBI sets up panel to improve corporate governance

Securities and Exchange Board of India (SEBI) has set up a committee to help improve corporate governance of listed companies, it said on Friday, in the light of recent high-profile corporate tussles.

Apart from helping ensure the independence of independent directors, the panel will also advise the market regulator on resolving issues related to accounting, auditing and board’s disclosure practices, SEBI said in press release.

RCom gets 7 mths to service debt; to cut burden by 60%

Debt-laden Reliance Communications today said its lenders have agreed to a strategic restructuring plan under which it will get a 7-month standstill to service loans amounting to Rs 45,000 crore.
In a damage control mode following credit rating downgrades, RCom chairman Anil Ambani held a press conference to announce that the debt burden will be reduced to Rs 20,000 crore with two deals by September, before the December deadline given by the lenders at a meeting with them earlier in the day.

International House of Pancakes opens in Gurugram

DineEquity, one of the US’ largest full-service restaurant company, on Thursday announced the opening of International House of Pancakes (IHOP), its first restaurant in India at the DLF Cyber Hub in Gurugram, Haryana. Launched under franchisee Kwal’s Catering Private, a multi-unit franchise organisation, the chain plans 19 more outlets in the next 10 years.
“With the ongoing growth of IHOP and introduction of this world-famous dining experience in India, this is a proud moment for us,” said Gary Moore, regional VP and GM at International DineEquity Inc, IHOP's parent company.

Tougher US visa vetting, including social media checks

The Trump administration has rolled out a new questionnaire for US visa applicants worldwide that asks for social media handles for the last five years and biographical information going back 15 years.
The new questions, part of an effort to tighten vetting of would-be visitors to the United States, was approved on May 23 by the Office of Management and Budget despite criticism from a range of education officials and academic groups during a public comment period.

Vinay Dube to be CEO of Jet Airways

Jet Airways has appointed Indian American Vinay Dube (in pic), a senior executive with Delta Airlines, as its chief executive officer. Currently, Dube is the senior vice-president (Asia Pacific) with Delta Air Lines and has been associated with the US-based carrier since 2007. There has been no full-time CEO at Jet Airways since Cramer Ball quit in February 2016.
"As the CEO of Jet Airways, Dube will be responsible for strengthening the airline's overall business performance and its position in the domestic and international markets," the airline said.

Android creator unveils ceramic phone

Andy Rubin created the software that powers hundreds of millions of Android devices around the world. Now he has two gadgets of his own: the Essential Phone and the Essential Home.