JioMart gets ready for its festive sale debut amidst tough competition from Amazon and Flipkart

  • The barely one-year old JioMart will pose a tough competition to Amazon and Flipkart’s years of experience.
  • JioMart has recently forayed into fashion, consumer electronics while it continues to bet on the grocery segment.
  • But it’s experiments come right before the festive season – with Diwali and Dussehra around the corner.

Mukesh Ambani’s JioMart has many things in its favour – billions of funding, technological prowess backed by Facebook and Google, and Reliance’s already existing reach across 6,700 cities in India. But during this festive season, the barely one-year-old JioMart will try to give a tough competition to Amazon and Flipkart’s years of experience.

JioMart has recently forayed into fashion, consumer electronics while it continues to bet on the grocery segment. And it’s experiments with fashion come right before the festive season – with Diwali and Dussehra around the corner.

With the year having seen tepid retail sales so far,

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POLL-China home prices to rise faster in 2020, but growth seen slowing as Beijing talks tough

By Lusha Zhang and Ryan Woo

BEIJING, Sept 29 (Reuters)China’s home prices are expected to rise slightly more this year than expected, though at a slower pace than last year, as Beijing shifts to de-leverage the sector amid an economic recovery, a Reuters poll showed.

The pick-up could offer much-needed support to the country as it emerges from a coronavirus-induced economic slump. But policymakers are conscious of a property bubble risk, with new restrictions rolled out recently to prevent sharp price rises and control financing activity by developers.

Average residential property prices are estimated to rise 4.8% in 2020, according to 13 analysts and economists surveyed from Sept. 21-29.

The forecast was firmer than a 3.75% gain found in a June survey, but down from 6.6% growth in 2019. Home prices are seen slowing to 3% in the first half of 2021.

Daniel Yao, head of research

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Spain says ‘tough weeks’ ahead as Madrid hit hard by virus

MADRID – Health authorities warned Madrid residents Thursday to brace for tough weeks ahead as a sustained coronavirus spread that is hitting the Spanish capital hard brought the country’s total infections over the 700,000 mark.

With over 10,600 new infections confirmed on Thursday, in line with the average for the past week, Spain’s total tally reached 704,209. There were also 84 new confirmed fatalities, raising the overall death toll to 31,118.

Because of limited testing, among other factors, the figures don’t capture the true extent of the pandemic.

The extended region around Madrid, comprising a population of 6.6 million, is struggling to control outbreaks that have hit harder in high-density working-class areas.

“Tough weeks are coming for Madrid,” Health Minister Salvador Illa told a press conference. “We have to act with determination to bring the pandemic under control.“

The region’s government is set to announce Friday new restrictions in the

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