business

Intel to acquire 0.39% stake in Jio Platforms for Rs 1,895 cr; will be 12th firm to invest in Reliance Industries' digital arm
india

Intel to acquire 0.39% stake in Jio Platforms for Rs 1,895 cr; will be 12th firm to invest in Reliance Industries' digital arm

The Intel deal values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

At 8.5 percent, unemployment rate falls to pre-lockdown levels, suggests CMIE data; rural employment likely to see 'bigger gains' in coming months
business

At 8.5 percent, unemployment rate falls to pre-lockdown levels, suggests CMIE data; rural employment likely to see 'bigger gains' in coming months

India’s unemployment rate reduced to pre-lockdown levels at 8.5 percent during the week that ended on 21 June, Centre for Monitoring Indian Economy (CMIE) said.

Google Pay says all transactions are fully protected by redressal processes laid out by RBI, NPCI
business

Google Pay says all transactions are fully protected by redressal processes laid out by RBI, NPCI

The statement comes against the backdrop of social media buzz that issues that might arise while transferring money through Google Pay cannot be redressed under law as the app is unauthorised.

SEBI comes out with operational framework for transactions in defaulted debt securities, to be implemented from 1 July onwards
business

SEBI comes out with operational framework for transactions in defaulted debt securities, to be implemented from 1 July onwards

Markets regulator SEBI allowed transactions in defaulted debt securities and put in place operational framework for such transactions

Indian economy contracts 7.5% in July-September quarter amid COVID-19 outbreak
business

Indian economy contracts 7.5% in July-September quarter amid COVID-19 outbreak

The GDP had expanded by 4.4% in the corresponding July-September period of 2019-20, according to NSSO data

Flipkart Group and Amazon corner 88 percent market share in festive sales: Report
business

Flipkart Group and Amazon corner 88 percent market share in festive sales: Report

Flipkart and Amazon record combined sale of $7.3 billion as online shopping gets a boost due to pandemic.

Amazon Pay, Paytm, PhonePe and 16 other companies become NPCI shareholders
tech

Amazon Pay, Paytm, PhonePe and 16 other companies become NPCI shareholders

National Payments Corporation of India brings onboard new members as part of its shareholding party.

Google India financial year 2019-2020 revenue rises 34.8 percent to Rs 5,593.8 crore
tech

Google India financial year 2019-2020 revenue rises 34.8 percent to Rs 5,593.8 crore

Google India's net profit rises by 23.9 percent to Rs 586.2 crore for FY20 from Rs 472.8 crore in the previous year, reports Tofler.

Bollywood actor Sonu Sood's Pravasirojgar gets Rs 250 Cr funding from Temasek-backed GoodWorker
business

Bollywood actor Sonu Sood's Pravasirojgar gets Rs 250 Cr funding from Temasek-backed GoodWorker

Bollywood actor Sonu Sood partners with Singapore based GoodWorker in a bid to drive Pravasirojgar forward.

India's IT and business services market to reach $13 billion by December 2020: IDC
business

India's IT and business services market to reach $13 billion by December 2020: IDC

IDC expects India's IT and Business Services market to recover and grow after the decline as a result of the pandemic.

Bengaluru-based Unacademy raises new funds from Tiger Global Management and Dragoneer Investment Group
business

Bengaluru-based Unacademy raises new funds from Tiger Global Management and Dragoneer Investment Group

Unacademy raises new funds for the third time this year taking its valuation to $2 billion.

Laxmi Vilas Bank, DBIL merger effective from 27 Nov, says RBI after Cabinet nod
business

Laxmi Vilas Bank, DBIL merger effective from 27 Nov, says RBI after Cabinet nod

The moratorium imposed on the crisis-ridden lender will be removed on Friday and depositors of LVB will be able to operate their accounts as customers of DBS Bank India from that day, said the Central bank

Mindtree Limited partners with the Nordex Group in a bid to drive digital transformation
business

Mindtree Limited partners with the Nordex Group in a bid to drive digital transformation

Mindtree Limited and The Nordex Group partner to upscale their company's digital transformation and growth plans respectively.

Bengaluru based space-tech startup Astrogate Labs bags Pre-Series A funding led by Speciale Invest
business

Bengaluru based space-tech startup Astrogate Labs bags Pre-Series A funding led by Speciale Invest

Speciale Invest joined by Anicut Angel Fund and others as it pitches in into Astrogate Labs' vision of space heritage and more.

Cars24 raises $200 million in Series E funding round led by DST Global taking it's valuation over the $1 billion mark
business

Cars24 raises $200 million in Series E funding round led by DST Global taking it's valuation over the $1 billion mark

The funding round also saw the participation of existing investors like Exor Seeds, Moore Strategic Ventures and Unbound.

WhiteHat Jr gets respite from court against Pradeep Poonia who accused it of malpractices, misleading ads
business

WhiteHat Jr gets respite from court against Pradeep Poonia who accused it of malpractices, misleading ads

The court order restricts Poonia from accessing WhiteHat Jr's internal communication channels or making any of its information public until 6 January.

India likely to have current account surplus this fiscal, says CEA Subramanian
business

India likely to have current account surplus this fiscal, says CEA Subramanian

India identified the nature of the coronavirus crisis and treated it differently from other economic crises of the past, he noted while addressing a virtual conference organised by industry body CII

Bharti Airtel chairman Sunil Mittal says telecom tariff hike needed as pricing is 'unsustainable'
business

Bharti Airtel chairman Sunil Mittal says telecom tariff hike needed as pricing is 'unsustainable'

Mittal, who has time and again drawn attention to the high taxes and levies in the sector, said it is important for the telecom industry to be sustainable as it is "high capital-intensive"

India is losing Rs 75,000 cr in taxes per year due to tax abuse by MNCs, evasion by individuals, says report
business

India is losing Rs 75,000 cr in taxes per year due to tax abuse by MNCs, evasion by individuals, says report

The State of Tax Justice report said $10.3 billion, or 0.41 percent of the country's $3 trillion GDP, is lost in taxes every year due to global tax abuse