RECENT NEWS

As his venture capital firm increasingly invests in other artificial intelligence firms, including those building on top of OpenAI’s products, LinkedIn co-founder Reid Hoffman is leaving the board of ChatGPT creator OpenAI.Hoffman published a message on LinkedIn. Hoffman is on the boards of both Greylock Partners and Microsoft Corporation, which purchased LinkedIn in 2016 and … Continue reading Reid Hoffman, the co-founder of LinkedIn, is resigning from the board of OpenAI.

South Bihar Electricity Distribution Company Ltd. Has awarded Bajaj Electricals’ EPC division a contract worth 564.87 crore rupees, the company announced on Saturday (SBPDCL).According to the company’s regulatory filing, the contract is for the delivery of products and services by South Bihar Power Distribution Company Ltd (SBPDCL), a domestic entity, under the Revamped Distribution Sector … Continue reading South Bihar electricity distribution co awards a contract worth Rs. 565 crore to Bajaj electricals.

On Friday, Apple Inc. said that it would support the creation of data- and analytics-driven approaches to better manage and preserve water in India in collaboration with the non-governmental organization (NGO) Frank Water, which has its headquarters in the United Kingdom.The relationship will begin with a pilot project in the Bengaluru neighborhood of Anekal, where … Continue reading Apple and a UK NGO collaborate to enhance India’s water management

With its current credit line of more than $1 billion with Indian banks, Vedanta Resources, owned by Anil Agarwal, is dependent on them for its future refinancing.After deducting the cash component of $3.5 billion, the group’s net debt comes to about $11.8 billion.In order to assist the business restructure its debt in the upcoming months, … Continue reading Vedanta Group, led by Anil Agarwal, plans to utilise a billion-dollar credit line with Indian banks that has been lying idle.

According to the Bloomberg Billionaires’ Index, Gautam Adani has a total net worth of $39.9 billion. Nonetheless, the struggling businessman is ranked 37th in Forbes’ Real-Time Billionaires Index and has a net worth of $33.7 billion. The distance between Adani and Mukesh Ambani, head of competitor Reliance Industries, is growing. Mukesh Ambani’s wealth is almost … Continue reading Gautam Adani’s net worth has decreased to below $40 billion, moving him up to position 30 on the world rich list

The nation’s top watch and jewellery manufacturer, Titan Company, has set an ambitious goal to double its revenues from the watches and wearables segment in the following three years. A key executive from Titan Ltd claims that the Bengaluru-based company is prepared to accelerate its expansion after successfully overcoming the obstacles brought on by COVID.Due … Continue reading In three years, Titan wants to sell watches and wearables for Rs 10,000 crore.

According to OYO CEO Ritesh Agarwal, the hotel chain is Indonesia’s largest provider of hospitality technology. According to him, there are more than 2,500 upscale OYO hotels spread over more than 180 locations.“Milestone alert: We have over 2,500 exclusive hotels accessible for booking across 180+ locations, making us the largest hospitality tech platform in Indonesia! … Continue reading According to CEO Ritesh Agarwal, OYO is currently Indonesia’s largest hospitality digital platform.

FMCG major Hindustan Unilever Limited (HUL) on Friday announced that it has signed an agreement for the sale of its atta and salt business carried out under the brands ‘Annapurna’ and ‘Captain Cook’ for Rs 60.4 crore. The brands are being sold to Uma Global Foods Pte Ltd., and Uma Consumer Products Private Ltd. Which … Continue reading HUL is going to sell the Annapurna and Captain Cook brands for Rs. 60 Crores.

Disney+ Hotstar is already feeling the effects of losing the IPL’s streaming rights to JioCinema, owned by Viacom18. Analysts predict that it may lose 30–40% of its subscribers.At the end of October 2022, Disney+ Hotstar had 61.3 million members, but over the final two months of the year, it lost a few million of them. … Continue reading After losing the IPL rights, Hotstar lost 3.8 million subscribers in the December quarter.

PepsiCo’s net sales in the division for Africa, the Middle East, and South Asia (AMESA), which includes India, increased 5.9% to USD 6.43 billion from USD 6.07 billion, mainly due to effective net pricing and organic volume growth.PepsiCo, a large international food and beverage company, reported on Thursday that its Indian division achieved “double-digit organic … Continue reading According to PepsiCo India, revenue will climb by double digits in 2022.

The government was granted equity shares worth Rs 16,133 crore on Tuesday, making it the largest stakeholder in Vodafone Idea with a 33.44 percent interest in the business. Vodafone Idea is a debt-ridden telecom provider.According to the company’s regulatory filing, the shares have been given to the government in lieu of conversion of interest dues … Continue reading Following equity allocation, the government acquires 33.44% of Vodafone Idea.

Boeing Co. informed the Seattle Times newspaper on Monday that it anticipates eliminating around 2,000 white-collar employees in finance and human resources this year through a combination of layoffs and attrition.The Virginia-based corporation revealed this month that it would eliminate certain support roles while adding 10,000 new employees by 2023.Boeing said at the time that … Continue reading Boeing will eliminate around 2,000 white-collar employees in HR and finance.

In response to rumors that Viacom18 is planning to combine its leading OTT platform Voot with JioCinema in order to live stream the Indian Premier League in 2023, Viacom18 has stated that no official announcement has been made in this regard and that it expects the two platforms to remain independent. “We haven’t released any … Continue reading There are currently no plans to merge Jio Cinema or combine it with Voot: Anil Jayaraj of Viacom18

The Maharashtra government informed the Supreme Court that it is contemplating a new program for the state’s bike-taxi aggregators.On Tuesday, the Supreme Court declined to grant Rapido relief from the Maharashtra government’s prohibition on bike aggregators. Rapido’s activities in Maharashtra have halted, therefore the highest court referred the company back to the Bombay High Court … Continue reading Rapido’s appeal of the Maharashtra ban on bike aggregators is denied by the SC.

On Wednesday, Walt Disney Co. announced a significant restructuring in an effort to save $5.5 billion in costs and turn its streaming business profitable. As part of the restructuring, 7,000 jobs will be lost. The 7,000 job losses will represent around 3.6% of Disney’s whole workforce.As Disney changes its attention to its core brands and … Continue reading As streaming subscription numbers drop, Disney makes 7,000 job cuts.

Ikea, a Swedish furniture store, has reduced the cost of several of its over 9,000 items available in India. The price reductions in several product categories range from 16 to 39%.According to Susanne Pulverer, chief executive and chief sustainability officer of Ikea India, the price reductions were made possible through improvements in sourcing, design, product … Continue reading Ikea lowers product pricing in India by 16–39%

According to Chief Minister Basavaraj Bommai on Wednesday, the southern Indian state of Karnataka is in serious discussions with Taiwan’s Foxconn about prospective investment plans, perhaps positioning it to become the third state in India to host Foxconn.Without offering any other information, the state’s investment promotion agency also tweeted that representatives met at the business’s … Continue reading Talks on investing in Karnataka by Foxconn

A new round of layoffs at edtech unicorn BYJU’s resulted in the dismissal of over 1,000 employees. 30% of the engineering staff was sacked during the last round of layoffs. This time, 15% more people have been let go, according to an employee at the edtech company.The company said in October that it had let … Continue reading 1,000 jobs are lost overall as BYJU’s dismisses 15% of its engineering team personnel.

In San Francisco, during a live worldwide event, Samsung unveiled its S23 flagship series. At the same time, the Indian tech media received its first glimpse at the smartphones that would define the Android world in 2023 and set the bar for how top-tier phones should function at the Opera House in Bangalore.As previously, the … Continue reading Samsung introduces its flagship S23 smartphones.

In an effort to counter the worldwide race to control sky-high inflation, the Bank of England raised interest rates tenth time in a row on Thursday.At a regular meeting, the Monetary Policy Committee of the central bank decided to raise its interest rate by 0.5 percent to 4.0 percent, the highest level since late 2008.Further … Continue reading Tenth consecutive increase by the Bank of England in interest rates, upto 4%

In order to relieve congestion at the Mumbai international airport, the Adani Group has planned to implement a twin-airport strategy for the Mumbai and Navi Mumbai airports. The first step involves moving operations of turboprop aircraft to Navi Mumbai airport. By moving small aircraft operations to Navi Mumbai, which is anticipated to start operations by … Continue reading Adani to prepare a twin-airport strategy for the airports in Mumbai and Navi Mumbai.

Elon Musk requested that a U.S. judge dismiss a case, claiming that his delayed disclosure of a sizable position in Twitter Inc. misled shareholders who, as a result of being kept in the dark, sold Twitter stock at artificially low prices.Investors accused Musk of delaying disclosing his purchase of 5% of Twitter’s stock by 11 … Continue reading Elon Musk seeks to resolve the dispute over the delayed disclosure of his Twitter investment.

Consumer Products Limited (RCPL), the FMCG division and a fully owned subsidiary of Reliance Retail Ventures Limited (RRVL), announced on Tuesday a strategic alliance with Maliban Biscuit Manufactories, which has its headquarters in Sri Lanka.Maliban is a heritage brand and well-known household name in Sri Lanka. It is a pioneering biscuit manufacturer with a long … Continue reading Reliance Consumer establishes a strategic partnership with the Sri Lankan biscuit company Maliban

International Holding Company (IHC) of Abu Dhabi stated on Monday that it would invest $400 million through its subsidiary Green Transmission Investment Holding RSC Limited in Adani Enterprises’ 20,000 crore follow-on public offer (FPO).As the business strives to diversify its portfolio, this is IHC’s first investment of the year.Through its subsidiary Green Transmission Investment Holding … Continue reading Adani Enterprises FPO receives a $400 million investment from Abu Dhabi IHC.

Manu Kumar Jain, global vice president and the previous head of Xiaomi’s Indian division, announced his retirement on Monday after serving the firm for around nine years.The development takes place in the middle of the current legal dispute between Xiaomi and the Enforcement Directorate about suspected violations of the Foreign Exchange Management Act (FEMA) by … Continue reading Manu Jain, VP of Xiaomi Global, leaves the business

Sanjay Shah, a 26-year company veteran, announced his retirement and was replaced as the CEO of India by Arun Kohli, who was appointed by Morgan Stanley.Kohli, who is now the EMEA chief operating officer, will be in charge of the US bank’s operations in the nation, according to a memo obtained by Bloomberg News. From … Continue reading Arun Kohli is appointed by Morgan Stanley as the new country head for India.

The market capitalization of Intel Corp was reduced by roughly $8 billion on Friday as a result of the US chipmaker’s gloomy earnings forecasts, which stoked concerns about a decline in the personal computer industry.The company anticipated a first-quarter surprise loss and forecasted revenue $3 billion below projections as it simultaneously battled declining growth in … Continue reading The “historic collapse” of Intel reduces market value by $8 billion.

As part of a bigger strategy to establish environmentally friendly and sustainable mining techniques, Mahanadi Coalfields Limited (MCL), a subsidiary of Coal India, has established an Eco-Park and constructed a Coal Museum.The CPSE, which reports to the Ministry of Coal, is working to embrace cleaner and more effective mining techniques while also attempting to boost … Continue reading In Odisha, a subsidiary of Coal India builds an eco-park and a coal museum.

Samvardhana Motherson Worldwide Ltd, formerly known as Motherson Sumi Programs Restricted, announced that it would pay 207 crores for a 51% ownership in Saddles Worldwide Automotive and Aviation Interiors Pvt Ltd.According to a change submission, the companies intend to complete the acquisition within three to four months following the deal’s signing.Changes for debt, debt-like objects, … Continue reading 51% of Saddles International to be purchased by Samvardhana Motherson for 207 crore.

According to two industry insiders, Air India will finalise the first part of a multibillion dollar order for 495 planes with Boeing, General Electric, and CFM International on Friday as its new owner aims to revitalise the airline and compete with much larger rivals.On the day that marks one year since Tata Group acquired control … Continue reading Tata’s Air India will complete the order for half of a jumbo jet .

Go FIRST has been fined 10 lakh rupees by the Directorate General of Civil Aviation, the governing body of Indian civil aviation, for leaving behind 55 passengers in the passenger coach on January 9 at Bengaluru Airport.The airline’s responsible management had received a show-cause letter from the regulator asking them to justify why no enforcement … Continue reading Go FIRST fined 10 lakh by the DGCA for leaving passengers at the airport.

Zomato Instant, a 10-minute delivery service offered by food aggregator Zomato Ltd., will be rebranded by the firm.According to Zomato, the company is developing a new menu and will keep all of its finishing stations in place. According to the company, this choice will not have any effects on any individuals or employees.Launched in March … Continue reading The 10-minute delivery service Instant to be rebranded by Zomato.

IIMA (Indian Institute of Management Ahmedabad) announced on Monday that professor Bharat Bhasker has been named IIMA’s director for a five-year term beginning on March 1, 2023.Bhasker is currently an Information Technology and Systems professor at the Indian Institute of Management (IIM) Lucknow. Arindam Banerjee has been chosen by the Board of Governors to serve … Continue reading Bharat Bhasker to take over as the new director of IIM Ahmedabad

A particular batch of the rabies vaccine ChiroRab from Hyderabad-based Bharat Biotech is being voluntarily recalled as a result of theft of many of its vials, the company announced on January 23.The company noted that even though only a portion of the package was taken and the cold chain storage conditions for that portion are … Continue reading Due to the theft of numerous vials, Bharat Biotech recalls a batch of their rabies vaccine.

With its unprecedented purchase of 495 aeroplanes, Air India is prepared to order 235 single-aisle aircraft from Airbus.A total of 425 single-aisle aircraft, including 235 Airbus A320neo-family aircraft and 190 Boeing 737 MAX aircraft, are expected to be covered under the agreement, which is approximately split with rival Boeing.According to the sources, the purchase will … Continue reading As part of Air India’s restart, 235 single-aisle jet orders will go to Airbus.

A 46-room, four-star luxury facility has been opened in Haridwar under the Udman Hotels brand, which is owned by the gift company Ferns N Petals. In addition to a future hotel in Sariska, Rajasthan, Udman Hotels & Resorts by FNP now manages five properties throughout the Delhi NCR. In addition to managing the hotels on … Continue reading In Haridwar, Udman Hotels by Ferns N Petals opens a four-star premium boutique hotel.

Reliance Industries (RIL), which is funded by billionaire Mukesh Ambani, released its financial results on Friday (Q3FY23). The board of directors of RIL has also given the go-ahead for non-convertible debentures to raise 20,000 crore.These NCDs will be sold in a private placement and in one or more tranches.RIL spent around $4.5 billion on capital … Continue reading Reliance plans to issue non-convertible debentures to raise 20,000 crore rupees

The Adani Green Energy division said on Wednesday that it would pay Essel Infraprojects 15 crore to buy 50% of the equity in Essel Saurya Urja Company of Rajasthan Ltd. According to a regulatory filing by Adani Green Energy, its renewable division Adani Renewable Energy Holding Two Ltd. and Essel Infraprojects Ltd. signed into a … Continue reading 50% of Rajasthan’s Essel Saurya Urja Company to purchased by Adani Green Energy.

On January 18, Hindalco Industries Ltd. launched the public offering of non-convertible debentures (NCDs) in the amount of Rs. 700 crore.According to a regulatory filing, the capital raising committee has approved the private placement of 70,000 rated, listed, unsecured, redeemable, non-convertible debentures (NCDs) worth $1,000,000. This represents an annual interest rate of 7.60 percent.According to … Continue reading Hindalco Industries launches a 700 crore NCD public offering.

Karthik Nagarajan has been named the CEO of Hogarth’s Indian operations, a creative production business owned by WPP. He will answer to Mark Wong, the CEO for Asia Pacific at the corporation, in this capacity. At GroupM India, Wavemaker India, and Nielsen, Nagarajan had previously held executive positions. He has held a variety of positions … Continue reading Hogarth India names Karthik Nagarajan as CEO

JSW Energy announced on Thursday that Solar Energy Corp. of India had awarded letters of award (LoA) to its step-down subsidiary, JSW Renew Energy Five Ltd., for 500 MW/1,000 MWH standalone battery energy storage systems (SECI). Two projects totaling 250 MW/500 MWH each will receive the award. With this, the company will be eligible to … Continue reading SECI awards JSW Energy a 500MW battery energy storage deal.

Jubilant Foodworks, a major operator in the food services industry, released its short- to medium-term outlook on Thursday. In the upcoming 12 to 18 months, the business intends to open 250 Domino’s restaurants in India. Jubilant also has aspirations to grow the nation’s Popeyes franchise. Additionally, the corporation has 900 crore in CAPEX scheduled for … Continue reading 250 Domino’s outlets will open by Jubilant Foodworks in the upcoming 12 to 18 months, with a 900 crore CAPEX.

Vedanta Ltd., headed by Anil Agarwal, announced on Thursday that Hindustan Zinc Limited would purchase the company’s Zinc International assets for $2,981 million in cash. The company’s board of directors approved the sale of its Zinc International assets held by THL Zinc Ventures Ltd (Mauritius), a wholly owned Vedanta subsidiary, through THL Zinc Ltd. at … Continue reading Hindustan Zinc to buy the assets of Zinc International from Vedanta for $2.98 billion.

Microsoft Corp. has invested in Darwinbox, an Asian provider of human resources software, as more businesses look for ways to attract and keep outstanding employees. According to a statement released by the startup on Tuesday, the US tech giant made an undisclosed equity investment as a follow-up to Darwinbox’s Series D round, which valued the … Continue reading Microsoft finances a software unicorn for human resources -Darwinbox 

A person with knowledge of the situation stated that the independent directors of Nissan Motor Co. have consented to move through with a proposal to rebalance the Japanese automaker’s 20-year partnership with Renault SA. The person, who asked to remain anonymous because the specifics aren’t yet available, said that final negotiations are underway for Renault … Continue reading Nissan and Renault  on track to finish their restructuring agreement.

A subsidiary of the South Korean company Lotte Confectionary Ltd., Havmor Ice Cream, announced on Tuesday that it plans to invest 450 crore over the course of five years to increase capacity in the nation. Havmor Ice Cream will establish a new manufacturing facility at MIDC Talegaon in Pune as part of the investment. This … Continue reading In order to increase capacity in India, Havmor Ice Cream to invest 450 crore.

For the production and maintenance of 9000 HP electric freight locomotives, Siemens, India has been awarded a contract of Rs.26,000 crore, excluding taxes and price variation. Over the course of 11 years, approximately 1,200 high-horsepower electric locomotives (9000 HP) will be produced, and the maintenance time will be 35 years. The Indian Railways factory in … Continue reading The Railways Ministry and Siemens enter into a contract for a locomotive project totaling Rs.26,000 cr

Google-backed delivery platform Dunzo has announced the layoff of 3% of its personnel, citing reorganisation, joining the long list of Indian businesses that have been reducing their workforces to reduce costs. There are 3,000 employees at Dunzo, according to data found on LinkedIn, therefore the business has let go of about 90 of those workers. … Continue reading 3% of the staff at Google-backed Dunzo  fired.

The Reserve Bank of India has given Paytm Payments Bank final approval to function as a Bharat Bill Payment Operating Unit, the company announced on Monday (BBPOU). A BBPOU is permitted to provide bill payment services for electricity, phone, DTH, water, insurance, gas, loan repayments, FASTag recharge, tuition, credit card bills, and municipal taxes under … Continue reading RBI gives final approval for Paytm Payments Bank to function as Bharat Bill Payment Operating Unit 

The National Company Law Tribunal (NCLT) allowed the winning bidder more time to pay the creditors’ debts after approving the sale of bankrupt Jet Airways to the Jalan Kalrock consortium on Friday. Recent decisions have been made regarding two petitions that the consortium filed. The first petition asked for permission to transfer ownership, and the … Continue reading Jalan Kalrock consortium receives NCLT approval for the purchase of Jet Airways.

In order to replace Brian Humphries as the company’s new CEO and board member, Cognizant Technology Solutions Corp. has named Ravi Kumar S. with immediate effect. In October, Kumar resigned from Infosys and began working for Cognizant as president of Cognizant Americas. Many observers at the time believed he was a front-runner for the CEO … Continue reading Former Infosys president Ravi Kumar named as CEO of Cognizant.

Ola Cabs, a taxi aggregator, has reduced its workforce as part of a reorganisation effort. The number of employees and the industries that saw layoffs were not disclosed by the corporation. The change, however, comes after the business declared a halt to its September plan to fire 200 software employees as part of internal reorganisation. … Continue reading In an effort to streamline, Ola removes employees.

On Thursday, the world’s largest IT business, Infosys Ltd, announced the appointment of Govind Vaidiram Iyer as a new, independent director. Beginning on January 12, 2023, the appointment will take effect. The Nomination and Remuneration Committee of the Infosys Board recommended this appointment, which is for a five-year term. At Egon Zehnder, Govind Vaidiram Iyer … Continue reading Govind Iyer  appointed by Infosys as an independent director for five years.

Apple Inc. is developing touch displays for its Mac computers, a move that would break with long-standing business tradition and embrace a design philosophy previously dubbed “ergonomically terrible” by co-founder Steve Jobs. According to insiders familiar with the project, Apple engineers are actively working on it, which suggests that the corporation is seriously considering creating … Continue reading Apple to make Macs with touch screens.

The merger of the top two multiplex chains in the nation, PVR Limited and INOX Leisure, was allowed on Thursday by the Bombay Bench of the National Company Law Tribunal (NCLT). According to an earlier merger announcement, the combined firm, to be known as PVR-INOX, will operate 1,546 screens across 341 facilities in 109 cities, … Continue reading Mumbai NCLT approves the merger of PVR and Inox 

On Wednesday, Reliance Jio said that it had begun offering 5G services in Uttarakhand, starting in Dehradun. In addition to the current expenditure of 4,950 crores, the business would invest over 650 crore in the deployment of a standalone 5G network in Uttarakhand. The business announced that subscribers in Dehradun will begin receiving the Jio … Continue reading Reliance Jio rolls out 5G in Uttarakhand.

As part of its defence against claims that its services are detrimental to teenage users, Meta, the company of Instagram and Facebook, announced on Tuesday that it will stop allowing marketers to target ads to teens based on gender. The social media announced in February that from that point forward, advertisers—the main source of the … Continue reading Meta prohibits advertisements that target teenagers based on gender 

Hindustan Unilever, an FMCG firm, revealed on Wednesday that it had successfully acquired 51% of Zywie Ventures Pvt Ltd. For the first tranche of the transaction, the corporation has finished buying 51% of Zywie Ventures for 264.28 crore. Focusing on markets with high demand for lifestyle protein, hair and beauty supplements, and women’s health, Zywie … Continue reading Zywie Ventures 51% owned by Hindustan Unilever.

The installation of India’s first 3x platform Wind Turbine Generators (WTG) in Gadag, Karnataka, was announced today by ReNew Power (“ReNew”), the country’s largest renewable energy firm by operational capacity. The WTGs are 128-140m tall with nameplate capacities ranging from 3.3 to 3.465 MW. Compared to the types that have been deployed in India up … Continue reading India’s First 3X Platform Wind Turbine Generators Installed by ReNew Power 

Flipkart Internet, the Walmart-backed company’s online marketplace division, has received a funding injection from its Singapore subsidiary of $90 million (nearly 722 crore). This is the first investment this year in the marketplace division of the large e-commerce company. According to reports, on December 29, 2016, the decision to inject cash was accepted. Two Singapore-based … Continue reading Over 700 crores  invested in Flipkart Internet by the parent company in Singapore.

According to a source with knowledge of the situation, Adani Goodhomes Pvt. is getting closer to purchasing Radius Estates and Developers Pvt. for 98% less than what the company’s creditors were asking for. The insider, who asked to remain anonymous because the information is confidential, claimed that Adani proposed to pay financial creditors 319.7 million … Continue reading At a 98% discount, Adani about to buy a bankrupt Mumbai builder.

On Monday, RS Sodhi, the managing director of Amul, resigned from his position with the business. The duty has been temporarily assigned to Jayen Mehta. The new MD, Jayen Mehta, has spent the last 31 years working for Amul. He currently serves as its chief operating officer (COO). The federation made the decision to terminate … Continue reading Jayen Mehta succeeds outgoing Amul MD RS Sodhi.

The firm said on Monday that social media platform Meta has recruited Vikas Purohit as Director of Global Business Group in India to oversee the strategy and execution of the charter that is targeted at the top advertisers and agency partners in the nation. Purohit will answer to Director and Head of Ads Business for … Continue reading Former Tata CLiQ CEO Vikas Purohit hired by Meta to lead its global business group in India.

Torrent Investments has now offered to make its complete Rs. 8,640 crore bid for Reliance Capital in cash up front (RCap).  This is consistent with the bid the corporation quoted during the e-auction under the IBC framework’s net present value (NPV). In the meantime, it is also believed that the Hinduja Group revised its belated … Continue reading In a novel move, Torrent provides the complete $8.640 billion bid amount as upfront payment.

The second stage of the strategic interest sale in IDBI Bank by the state-owned Life Insurance Corp. of India (LIC) and the Indian government is about to begin.The government received numerous expressions of interest (EoI) for the divestiture of IDBI Bank, according to the DIPAM secretary’s statement on Saturday. Together, the government and LIC want … Continue reading Government and LIC to carry the IDBI Bank strategic sale into the next phase.

According to reports, Paytm Payments Bank has received RBI permission to name Surinder Chawla as its new CEO.At the moment, Chawla is in charge of branch banking at RBL Bank. According to a report, Chawla’s appointment as CEO of Paytm Payment Bank has been anticipated for some time, and he has also been transitioning roles … Continue reading RBI approves the appointment of Surinder Chawla as the new CEO of Paytm Payments Bank.

On Friday, Tesla Inc. reduced the price of its Model 3 and Y electric cars in China once more while also introducing the higher-end Model S sedan and Model X to better capture the high-end EV market there. According to the company’s Chinese website, the starting price for the locally produced Model Y sports utility … Continue reading Due to price reductions, Teslas now over 40% cheaper in China than in the US.

Amazon, an e-commerce business, intends to terminate over 1,000 employees in India as part of its largest global restructuring effort. One percent of Amazon’s 1 lakh employees in India will be impacted by the move. Due to the deteriorating economic climate, the e-commerce company Amazon has announced the elimination of almost 18,000 positions globally. On … Continue reading Around 1,000 employees would be let go by Amazon India.

Sebi  JG Chemicals, a manufacturer of zinc oxide, informed Sebi on January 6 that it had submitted preliminary paperwork to raise money through a preliminary public offering (IPO). The IPO incorporates contemporary difficulties fairness shares with a maximum value of 202.50 crore and an offer-for-sale (OFS) of 57 lakh fairness shares by its current promoter … Continue reading JG Chemicals, a manufacturer of zinc oxide, submits initial documents to Sebi

cr. Godrej Properties said on Thursday that 870 units in its Ahmedabad, Gujarat, housing project had been sold for a total of 435 crore. According to a regulatory filing, Godrej Properties announced that it has sold more than 1 million square feet of space at the beginning of a new phase of its project “Celeste,” … Continue reading 870 units in a project in Ahmedabad sold by Godrej Properties for $435 cr.

GoldenPi Technologies, which is sponsored by Zerodha, is the first company to offer an online bond platform to be granted a debt brokerage licence by market regulator Sebi. The Bengaluru-based fintech company anticipates that this move would increase investor confidence in the online bonds and debentures investment market. The CEO and co-founder of GoldenPi, Abhijit … Continue reading Sebi grants a debt broker licence to a fintech company funded by Zerodha.

As the India regional managing director, talent solutions provider Allegis Group hires Venkat Shastry, a former partner at executive search firm Heidrick & Struggles in India. Pravin Tatavarti, who left the position at the end of 2022, is replaced by Shastry. Venkat will oversee Allegis’ overall operations in India with a focus on revenue, profitability, … Continue reading Allegis Group welcomes Venkat Shastry as India MD.

An important government lawyer declared on Wednesday that the Indian government would maintain its demand for a 10% increase in its portion of the profits from the Barmer oil and gas block owned by Indian giant Vedanta (VDAN.NS). A dispute between Vedanta and the federal government for an extension of the production-sharing contract for the … Continue reading India maintains its quest for a larger percentage of the Vedanta oil block.

The tourism ministry has received a representation from the hospitality organisation Federation of Hotel & Restaurant Associations of India (FHRAI) outlining the concerns lodged by hotels regarding the holdup in classifying or reclassifying 1, 2, and 3 star hotels in Gujarat and Chhattisgarh. India has roughly 1.5 lakh branded hotel rooms, according to industry estimates. … Continue reading Gujarat and Chhattisgarh hotels’ star ratings postponed by 6 months.

Switch Mobility, JBM Auto, and PMI Electro Mobility, supported by commercial vehicle maker Ashok Leyland, are believed to have won the state-owned Convergence Energy Services Ltd (CESL) tender for the sum of 30 billion (about $362.40 million). These businesses had taken part in CESL’s September 21, 2022, tender for the delivery of 465 e-buses for … Continue reading In CESL’s $30 billion electric bus tender, Switch Mobility and JBM Auto among the potential likely winners.

The historic offshore drilling rig “Sagar Samrat” owned by the state-run ONGC now serves as a mobile production unit and began operations last month, the company announced on Tuesday. The rig, which had passed its expiration date, was renovated into a mobile offshore production unit (MOPU), which can bring oil and gas discovered beneath the … Continue reading Oil and gas production in the Arabian Sea begins with ONGC’s “Sagar Samrat”.

Sourav Ganguly, a cricket player and the bank’s brand ambassador, is featured in an integrated marketing campaign developed by Bandhan Bank.  According to the corporation, the “Jahaan Bandhan, Wahaan Trust” campaign highlights the “trust” that the brand has been able to build in its seven years as a bank and during the past 20 years … Continue reading Sourav Ganguly and Bandhan Bank unveil a new branding campaign.

Engineering and construction powerhouse Larsen & Toubro (L&T) announced on Tuesday that the Government of Madhya Pradesh has placed additional orders for its Water & Effluent Treatment Business. The business stated in a statement that it has been given the go-ahead to carry out two lift irrigation projects to irrigate 2,05,000 Ha of culturable command … Continue reading The MP government awards contracts to L&T Construction for the water and effluent treatment industry.

With the introduction of “InCred Money,” InCred Capital intends to penetrate the retail wealth-tech market. InCred Money has begun operations after the business acquired Orowealth in an all-cash purchase, the company stated on Monday. Through the acquisition, InCred Money will have assets under management (AuM) of more than 1,100 cralong with a strong technological foundation … Continue reading With the advent of InCred Money, InCred Capital purchases Orowealth to enter the retail wealth-tech market.

The SEZ unit of Indo Shell Mould Ltd, which is located in SIPCOT, Erode in Tamil Nadu, will be acquired by Bharat Forge’s step-down subsidiary JS Auto Cast Foundry, the firm announced without disclosing the price at which the deal was reached. According to the Bharat Forge release, JS Auto Cast Foundry India and Indo … Continue reading Indo Shell Mould’s SEZ operation to be acquired by Bharat Forge’s arm.

A 27.14% increase in retail sales to 4,187 units in India for the German luxury automaker Audi was revealed on Monday. In 2021, the business sold 3,293 units. Even while supply chain issues and a shortage of semiconductors continue to limit development, Audi India stated its performance in 2022 was boosted by a solid product … Continue reading Sales of Audi India rose 27.14% to 4,187 cars in 2022.

According to a statement released by Maruti Suzuki India on Sunday, the company’s overall wholesale sales decreased by about 9% in December 2022 to 1,39,347 units from the same month the previous year. The results show that sales of mini cars like the Alto and S-Presso decreased from 16,320 units in the same month last … Continue reading Dec 2022 wholesale sales for Maruti Suzuki India decreased by 9%.

According to investors and industry participants, the National Geospatial Policy, 2022, which was announced last week, can aid India in creating a private startup environment. The policy’s objectives, such as building India’s National Digital Twin, developing highly accurate topographical models, encouraging the blue economy, etc., may assist boost private entrepreneurs in the near future. The … Continue reading New geospatial regulations to support startup ecosystem.

According to a senior official of the company, Sajjan Jindal’s conglomerate JSW Group is thinking about getting into the production of electric automobiles. A million tonne per year (MTPA) steel facility is owned and run by JSW Group company JSW Steel in Salem, Tamil Nadu. The business produces auto-grade steel at its plant in Salem … Continue reading JSW Group considers manufacturing 4-wheelers and venturing into electric vehicles.

Meta Platforms Inc., the company that owns Facebook, has agreed to pay $725 million to settle a class-action lawsuit accusing the social media behemoth of granting access to user data to outside organisations, such as Cambridge Analytica. The long-running case brought on by allegations in 2018 that Facebook had permitted the British political consulting firm … Continue reading The Cambridge Analytica case will be resolved for $725 million by Facebook parent company Meta

On Friday, the appellate tribunal maintained the Competition Commission of India’s (CCI) decision to impose a fine of 751.83 crore on United Breweries, the company that makes Kingfisher beer. The competition watchdog allegedly discovered cartel activity at United Breweries Ltd (UBL), Carlsberg India Pvt., and SABMiller India Ltd. According to CCI, the corporations participated in … Continue reading NCLT affirms United Breweries’ ₹751 crore CCI order.

On Friday, Vedanta Ltd. said that it had been selected as the “preferred winner” for the block I of the Bicholim mineral block in Goa. “The Company has been declared as ‘Preferred Bidder’ in respect of e‐ auction of Block I ‐ Bicholim Mineral Block based on highest Final Price Offer of 63.55%submitted by the … Continue reading For the Bicholim mineral block in Goa, Vedanta named as the “preferred winner.”

According to an internal communication, Aloke Singh, the CEO of Air India Express, would be in charge of Air India’s low-cost airline division as of January 1st, 2023.AirAsia India and Air India Express will be the Low Cost Carrier (LCC) division’s carriers. According to the internal communication, Sunil Bhaskaran, the current CEO of AirAsia India, … Continue reading Beginning on January 1, Aloke Singh will be in charge of Air India’s low-cost airline division

To equip its drones with cutting-edge digital capabilities, drone startup Garuda Aerospace in Chennai and IT giant Cognizant have inked a memorandum of understanding (MoU).The alliance aims to provide scaled-up modern choices for businesses seeking more agility, productivity, and high return on investment (RoI). Together, Cognizant and Garuda Aerospace are focusing on a wide range … Continue reading Cognizant and Garuda Aerospace sign an MoU to integrate cutting-edge technology and analytics into drones.

The Serum Institute of India (SII) has applied for market authorization for its COVID-19 vaccine, Covovax, which is intended to be given as a booster dose to anyone 18 years of age and older who have already received two doses of Covishield or Covaxin. On October 17, Prakash Kumar Singh, director of government and regulatory … Continue reading Serum Institute requests permission from the medicines authorities to put its Covid vaccine on the market as a booster dosage.

The first-ever, national price index to reflect the benchmark pure gas price for India was unveiled on Wednesday by the Indian Gas Exchange (IGX), which is a subsidiary of the Indian Energy Exchange (IEX). With the IGX Price Index, a single price for the country will be determined that is in line with international benchmarks … Continue reading India’s first gas pricing index is released by IGX.

The capital markets regulator Sebi fined Reliance Commercial Finance Ltd (RCFL) 10 lakh on Wednesday for breaking disclosure rules. Due to the fact that Reliance Commercial Finance’s debt securities are listed on stock markets, the penalties must be paid within 45 days. In accordance with Sebi’s decision, RCFL failed to inform the stock exchange at … Continue reading Reliance Commercial Finance Ltd. is penalised by Sebi with a fine of 10 lakh for breaking rules.

On Wednesday, Bharti Airtel announced the opening of super-fast 5G services in Gujarat’s Ahmedabad and Gandhinagar. The business also disclosed the beginning of 5G services in Imphal, the capital of Manipur. In a press release announcing the rollout of 5G services in Ahmedabad and Gandhinagar, the company noted that the services are already accessible in … Continue reading Expanding its 5G network, Airtel now offers services in Ahmedabad, Gandhinagar, and Imphal

Vedanta Ltd, an internationally diversified natural resources corporation, established its EV Policy for employees across all locations as a significant step toward sustainability. According to a statement, the corporation is offering discounts under the new policy to all of its employees, with incentives ranging from 30% to 50% for different employee grades for the purchase … Continue reading Vedanta introduces an electric vehicle policy for all staff members.

Domino’s Pizza today introduced 20-zone pizza delivery inside 20 minutes. The company is set up to give customers a wonderful pizza-eating experience. It has continuously prioritised a variety of factors, including product innovation, flavour, affordability, and customer service, in order to achieve this. Domino’s became a market leader in the quick service restaurant industry by … Continue reading In 20 Indian zones, Domino’s cuts the time it takes to deliver pizza to 20 minutes.

Shyam Metalics, an Indian metal company, hopes to complete the acquisition of Mittal Corp. so it may expand into the stainless steel/wire rod & bar mill industry, which will help it diversify its metal offerings. In order to map out the company’s growth trajectory, Shyam Metalics claimed to have started using a “diversification technique” in … Continue reading With a purchase of Mittal Corp, Shyam Metalics enters the stainless steel industry.

The Life Insurance Corporation of India (LIC) has raised its ownership share in the Indian Railway Catering and Tourism Corporation (IRCTC). The ownership has increased from 5.005 to 7.278 percent. According to LIC’s corporate filing, the purchase of shares occurred between October 17 and December 16 at an average price of rupees 692.28. IRCTC is … Continue reading LIC ups its investment in IRCTC by 2%, bringing its holding to 7.27%.

On Monday, Wipro Consumer Care revealed that it has purchased Kerala’s Nirapara. By purchasing one of Kerala’s top-selling traditional food brands, the firm enters the packaged food and spice market. With this acquisition, Wipro Consumer Care joins FMCG companies that already have a presence in the spices sector, including Dabur, Emami, Tata Consumer Products Ltd., … Continue reading Nirapara, a packaged food and spice brand from Kerala, acquired by Wipro Consumer Care.

Yes Bank, a private sector lender, announced on Monday that it had transferred stressed assets totaling 48,000 crore to JC Flowers Asset Reconstruction Pvt Ltd, clearing the bank’s books of all subpar assets. Technical write-offs and non-performing exposures make up this pool of stressed assets. According to Yes Bank, it is by far the biggest … Continue reading Yes Bank transfers a pool of distressed assets to JC Flowers ARC.

On December 17, IDFC FIRST Bank announced ZERO Fee Banking for savings accounts as well as the elimination of fees for 25 frequently used banking services. Savings account services like cash deposits and withdrawals at branches, third-party cash transactions, demand draughts, IMPS, NEFT, RTGS, check books, SMS alerts, interest certificates, insufficient balance for ATM transactions, … Continue reading Zero-fee banking for savings accounts announced by IDFC FIRST Bank.