3 top Flipkart execs quit a day after CEO change

Three top-level executives have decided to leave India's largest online retailer Flipkart even as new chief executive officer Kalyan Krishnamurthy is beginning to build his team, which comprises mostly company veterans. This comes just a day after a top level restructuring that took place in the Bengaluru-based company. E-tailer supply chain unit Ekart's head Saikiran Krishnamurthy, senior vice-president (product) Surojit Chatterjee and chief marketing officer Samardeep Subandh are leaving the company.

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Accor Hotels to add 9 hotels in India by year-end

"We plan to open up to nine hotels in India this year. We will have 55 hotels in India by the end of this year with over 10,000 rooms," AccorHotels, COO India and South Asia Jean-Michel Casse told PTI. Out of the new hotels that the company is planning to open this year, the majority will be under Novotel and ibis brands, he added. "Today the majority of our hotels are between Novotel and ibis brands. Around 50 per cent of our hotels are under these two brands and rest are in the other eight brands," Casse said.

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Karnataka funds start-ups to promote tourism

Karnataka has provided funds to eight local start-ups that presented ideas to promote tourism in the state. Karnataka government’s start-up policy aims to nurture 20,000 technology-based start-ups and 6,000 product-based firms. The policy intervention of the government along with the support of industry and investors is helping us achieve this target. I’m confident that ‘Idea2POC’ initiative along with the new-age incubation network of the state government will encourage innovation and entrepreneurship Chief Minister Siddaramaiah said.

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Real estate worth $121 billion to benefit from REIT opportunity in India

The Real Estate Investment Trust (REIT) is an investment vehicle that invests in rent-yielding completed real estate properties. REIT holds the potential to transform the Indian real estate sector to a large extent, especially with respect to inculcating an asset light model in the business, helping unbundle the development and investment activities of the property development business. rough REIT, the developers can exit from the completed asset, and focus alone on development activity, which has a different risk-return profile. 

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