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Even one rejection may leave us cracked and crumbling, so imagine the plight of this man whose idea was shot down many times over. He would leave the chambers of venture capitalists with rejection slips pinned on his chest but that didn’t break his resolve. Today, this man from Mumbai, Harsh Jain, is a proud […]
Billionaire Gautam Adani-controlled Adani Group has completed a $3.5 billion funding package to refinance loans taken for last year’s acquisition of ACC Ltd and Ambuja Cement. At least 18 global banks have agreed to join the consortium led by Barclays, Deutsche Bank and Standard Chartered among others, for refinancing the debt that helped fund the […]
The phrase ‘India growth story’ doesn’t quite sit well with the alarming rates of job cuts in recent times. This month, a national daily revealed that 23 techies, on average, lose their jobs every hour. Recent data from a tech-focussed hiring firm TopHire indicated that approximately 100,000 employees have been given the pink slip in […]
Shares of Orient Cement climbed 8 per cent on Wednesday amid a media report suggesting promoter CK Birla has approached Gautam Adani to sell his stake in the listed cement company. It suggested that the industrialist had rejected initial offers from peers for failing to meet his valuation demand. As per the report, the senior […]
With the golden run of the Indian IT industry long been over, layoffs have become the new normal. India’s top three IT companies have seen more than 25,000 net employee exits in the six months to September, driven by cost-saving measures, unfilled job openings, and hiring curbs. Companies and recruiters expect the labour market to […]
The beleaguered dairy sector of Sri Lanka has got a shot in the arm with Indian firms drawing up the revival path for the country, which imports 60% of its milk and milk products requirement. It is to be noted that the island nation is facing its worst-ever economic crisis and much of its industrial […]
The International Olympic Committee (IOC) and the Olympic Museum have joined hands with the Reliance Foundation to build on the success of the Olympic Values Education Programme (OVEP) and foster the promotion of Olympic values through sports among the youth. The partnership was formalized during a visit to the Reliance Foundation Young Champs (RFYC) football […]
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has directed Swan Energy to make a payment of Rs 250 crore as part of the resolution plan for the bankrupt Reliance Naval and Engineering Limited (RNEL). Led by Nikhil Merchant, who is managing director of the company, Swan Energy had bid successfully for RNEL […]
Ambuja Cements has incorporated three fully owned subsidiaries — LOTIS IFSC Private Limited, Ambuja Concrete North Private Limited and Ambuja Concrete West Private Limited, the company informed the Indian stock market bourses. Ambuja Cements, an Adani group company, said in its declaration, “Pursuant to Regulation 30 of the Listing Regulations read with Part A of […]
India’s semiconductor dream sees another leap as Taiwanese tech giant Foxconn Technology Group is reported to be exploring a partnership with STMicroelectronics NV to build a semiconductor factory in India. Reports say Foxconn and Franco-Italian STMicro are applying for PLI incentives for a 40-nanometer chip plant. The government has asked Foxconn for more details about […]
Adani Energy Solutions Ltd, formerly known as Adani Transmission Ltd is set to capture the spotlight as market watchers eagerly await the unfolding of the company’s groundbreaking initiatives. The anticipation arises from an official announcement made by a senior representative from its wholly-owned subsidiary, Adani Electricity Mumbai. The subsidiary revealed plans to infuse more than […]
In an apparent move to stem Chinese hegemony in the electronics sector, the Centre has ‘restricted’ imports of personal computers, laptops, palmtops, automatic data processing machines, microcomputer/ processors and large/ mainframe computers with immediate effect. In a notification, the Directorate General of Foreign Trade (DGFT) said imports of computers and other items under the seven […]
You need a job and the offers that come to you are from Air India, TELCO and TISCO. You would pinch yourself. Is it real? But one man rejected all these offers. Instead, he decided to work at the Indian Institute of Management (IIM) Ahmedabad as a chief system programmer. Reason? His quest for learning. […]
The British broadcaster BBC has informed the income-tax department that it would like to modify some of its prior income that may have been underreported during the required filing of returns for its activities in India. The development takes place in the wake of the tax department’s three-day survey of the organisation’s Delhi offices in […]
Be it a move to calm political spotlight on its business acquisitions or a step towards winning back investor trust, but the Adani Group has now announced “that it will not take on additional debt until it lowers the existing one.” Added, the conglomerate is expected to report a 20% rise in earnings before interest, […]
Foreign travel packages will be more expensive to book beginning July 1, 2023. The tax collected at source (TCS) rate for overseas remittances under the Liberalised Remittance Scheme (LRS) has been increased from 5 per cent to 20 per cent in Budget 2023. As a result, TCS on remittances for booking overseas travel packages will […]
Apple is set to open its first retail stores in India this week, with the first store to be located in Mumbai, followed by a second in Delhi. The move brings the Cupertino-based company closer to one of the world’s youngest populations, as India’s economy is expected to see solid growth with its 1.4 billion […]
The Adani group is trying to win back investors’ confidence following Hindenburg’s allegations of inappropriate use of offshore tax havens and stock manipulation. It’s communicating to investors that top European and Japanese banks have shown confidence in the group. A report by a business daily claimed that the group, through a series of roadshows from […]
The startup euphoria is due for a reality check. A dry spell of funding has slowed the growth of startups, with many humble businesses opting for belt-tightening measures. According to a report published by a national daily, small businesses are feeling the aftereffects of the recession, with funding dipping to below $30 billion last year […]
RS Sodhi, who retired as managing director of Gujarat Cooperative Milk Marketing Federation (GCMMF) earlier this year, is now joining Reliance Retail, according to media reports. The 65-year-old Sodhi will be joining Reliance with the responsibility of building the grocery vertical, which consists of fruits and vegetables. The top management of GCMMF has always been […]
