US-based marquee investors Tiger Global and Dragoneer Investment Group have pumped fresh capital into Unacademy, valuing it at $2 billion. In less than two months, the edtech startup’s valuation has shot up by over 40% as online education companies continue to attract strong investor interest aided by pandemic-induced demand for e-learning.
The Tata Group is considering a rejig of the business portfolio of Tata Industries, best known for incubating new ventures for the conglomerate. The plan, though in early stages, involves a possible merger of its health services, e-commerce, ready-to-eat food and digital classroom content businesses with sister Tata companies having a play in similar categories.
Lineless, cashless and cashierless stores are coming close to you. Online grocery BigBasket is planning to roll out unmanned convenience stores in Bengaluru sometime early next year as part of a pilot project that seeks to replicate an Amazon Go-like shopping experience.
The government is giving a fresh push to improve India’s ranking in various global indices to reflect the changes taking place in the country. As part of the efforts, being spearheaded by the Cabinet secretary, various ministries have been asked to ensure swift and updated data to help improve rankings.
Accenture has rolled out bonuses to a majority of its two lakh employees in India and plans a significant level of promotions in the December cycle. The biannual bonus payout in November was at 75% of the target amount, which sources said is higher than what was paid in May.
The government has extended suspension of scheduled international flights till December 31, 2020. However Vande Bharat Mission and scheduled flights under the travel bubbles India is creating with several countries like US, UK, Germany and France will continue and people eligible as per government norms can fly to and from India on them.
Indian economy has exhibited stronger pick up in momentum of recovery than expected, said Reserve Bank of India governor Shaktikanta Das on Thursday. Addressing the 4th Annual Day of Foreign Exchange Dealers’ Association of India (FEDAI), he cited that a multi-speed normalisation of activity in Q2FY21, after the country witnessed a sharp contraction in GDP … Continue reading Eco exhibited stronger than expected pick up: Das
While 70% of HR executives believe that the sector needs to be redefined through HR 3.0 – which deals with personalisaiton, skills and data-driven decision making – only 10% companies have achieved it globally, says a study by IBM along with Josh Bersin Academy.
Veteran industrialist Ratan Tata, who headed Tata group and whose iconic hotel in Mumbai was one of the sites of the 26/11 terror attacks, on Thursday penned a heartfelt tribute saying the wanton destruction that took place 12 years ago will never be forgotten. “The wanton destruction that took place 12 years ago today will … Continue reading Ratan Tata pens heartfelt note on 26/11 anniversary
India, he said, is uniquely positioned to move ahead in this era as the government’s Digital India mission has ceased to be another regular initiative but a way of life that has impacted people directly. He referred to the direct benefit transfer scheme, the rapid growth of online payments, and Ayushman Bharat.
Air India is offering a one-time free rescheduling to its passengers who could not reach Delhi airport on Thursday to catch their flights, due to closure of the capital’s border in wake of the farmers’ protest march. Security personnel were deployed at Delhi borders to prevent farmers protesting against recent farm laws from marching to … Continue reading Farmers’ protest: AI offers free rescheduling for flyers
Tech giant Google saw its India revenues grow 34.8 per cent to about Rs 5,593.8 crore in 2019-20 over the previous financial year, as per regulatory documents. Google India’s total income was at Rs 4,147 crore in the financial year ended March 31, 2019, according to Registrar of Companies filing shared by market intelligence firm … Continue reading Google India FY20 revenue rises 35%, profit up 24%
India’s fast moving consumer goods (FMCG) industry displayed signs of recovery in the third quarter of 2020 with a 1.6% growth (versus Q3 ’19), after an unprecedented decline of -19% in the April-June (Q2’20) quarter.
India has the potential to surpass even China in low-cost manufacturing if the government and industry work in a cohesive manner, Maruti Suzuki India (MSI) chairman RC Bhargava said on Thursday.
Flipkart Wholesale on Thursday said it is in final stages of consolidating Walmart India within its operations, and has extended offers to all employees of Walmart India’s home office to join the digital business-to-business (B2B) marketplace.
Niti Aayog CEO Amitabh Kant on Thursday said digital infrastructure has become indispensable to the functioning of society and India can create $1 trillion of economic value using digital technology by 2025.
Faqir Chand Kohli, who sowed the seeds of the $190-billion IT industry, has passed away on Thursday. He was 96. The sector’s largest company TCS, of which he was the founding chief executive, announced the death of Kohli and said it was the insistence of JRD Tata which got Kohli to join the Tata Group, … Continue reading Indian IT industry pioneer FC Kohli dead
A day ahead of its merger with the Indian arm of Singapore-based DBS Bank, the debt-ridden Lakshmi Vilas Bank (LVB) on Thursday has written off bonds worth Rs 318.20 crore as per the existing provisions. As per the effective date of merger notified by the Reserve Bank of India (RBI) on Wednesday, LVB will lose … Continue reading LVB writes off bonds worth Rs 318cr ahead of merger
Universal access to electricity, the government’s “commitment and conviction” to fight climate change along with plans to rapidly expand renewable energy capacity will generate business prospects worth $20 billion, or Rs 1.5 lakh crore, every year, prime minister Narendra Modi said on Wednesday urging investors to join India’s renewable energy programme.
International air travel could come booming back next year but with a new rule: Travellers to certain countries must be vaccinated against the coronavirus before they can fly.
Wall Street busted through its latest milestone Tuesday, when the Dow Jones Industrial Average topped 30,000 for the first time. The Dow rose 454.97 points, or 1.5%, to close at 30,046.24.
Global technology investment firm DST Global, which has backed Indian startups like Swiggy, Udaan, Ola and Byju’s, is leading a $200-million funding in Cars24. This would make the online platform for selling used cars the latest entrant to the much coveted unicorn club — those with a valuation of over $1 billion.
As businesses reopen, the job market is showing recovery and the competition for open vacancies is easing, and the opportunities gap between those with and without digital skills is narrowing.
Tesla’s market value soared to more than $500 billion on Tuesday ahead of its listing on the S&P 500, with its stock finishing up 6.4 per cent or by nearly $32 billion in 24 hours.
The national retail policy will aim to ease compliance burden and reduce the number of licences needed to open a retail outlet, a senior government official said on Tuesday. “First one is ease of doing business,” said Anil Agrawal, joint secretary at the department for promotion of industry and internal trade (DPIIT).
Janet Yellen became an economist at a time when few women entered the profession and fewer still rose in a male-dominated environment. Her expected nomination would come as rebuilding a US economy battered by the coronavirus pandemic and saddled with high unemployment presents a central challenge for President-elect Joseph Biden’s administration.
China resolutely opposes India’s measures to ban more Chinese mobile applications over national security concerns, its embassy said on Wednesday. India banned 43 of the apps on Tuesday, including Alibaba Group Holding Ltd’s e-commerce app Aliexpress, in a new wave of web sanctions amid continued tension at the border.
The government on Wednesday approved merger of crisis-ridden Lakshmi Vilas Bank (LVB) with DBS Bank India Ltd (DBIL) and removed restrictions on withdrawal of deposits by depositors.
Google on Wednesday clarified that users in India will not have to pay any fee for money transfers on its payment platform, and that the charges are for users in the US.