News

Vedanta & Foxconn To Build India’s First Chip Plant

Vedanta & Foxconn To Build India’s First Chip Plant

India’s diversified mining company Vedanta Ltd. and Taiwan’s Foxconn signed a deal to set up a $20 billion semiconductor project in Gujarat. The project is intended to produce chips and displays near Ahmedabad. Bhupendrabhai Patel, the Chief Minister of Gujarat, said that the establishment of this manufacturing unit would create more than 100,000 jobs, and…

Navi Technologies Gets Approval From SEBI For IPO

Navi Technologies Gets Approval From SEBI For IPO

Sachin Bansal’s Navi technologies get the nod from the Security and Exchange Board Of India (SEBI) for an Initial Public Offering (IPO), providing the Flipkart co-founder with a boost as he works to create a financial services conglomerate.  Navi Technologies is a fintech company that submitted the draft papers to SEBI in March this year…

Nykaa Concluded Acquisition of 100% Iluminar Media Equity Shares

Nykaa Concluded Acquisition of 100% Iluminar Media Equity Shares

One of the most prominent beauty eCommerce platforms ━ Nykaa ━ has concluded the complete acquisition of Iliminar Media, the parent company of the digital content platform Little Black Book (LBB). The company has made this deal all in cash, but there is no clarity on the financial contours of the deal yet.  On the…

Britain’s Longest-serving Monarch, Queen Elizabeth II, Passed Away At 96

Britain’s Longest-serving Monarch, Queen Elizabeth II, Passed Away At 96

Queen Elizabeth II, whose reign saw Britain transition from the age of steam to the age of smartphones and who oversaw the fairly peaceful disintegration of a once-global empire, has died. She was 96 years old.  As per a statement released from Buckingham Palace, she took her last breath at her Balmoral, Scotland-based mansion on…

The Crypto Market Set To Regain $3 Trillion Market Cap  

The Crypto Market Set To Regain $3 Trillion Market Cap  

The crypto market, led by BTC, Ethereum, BNB Coin, and several other altcoins, reached $3 trillion in November 2021, when 1 Bitcoin reached an all-time high of about $70ooo. There were also a lot of concerns about Foreign Direct Investment in the cryptocurrency market at the time. Following that, Bitcoin began to normalise to price…

Reliance Industries Is All Set To Acquire California-Based SenseHawk 

Reliance Industries Is All Set To Acquire California-Based SenseHawk 

Oil to telecom amalgamation Reliance Industries has final agreements with California-based software development company SenseHawk to acquire a 79.4% stake in the company. As per RIL’s official statement, the acquisition has a valuation of $32 million and will happen through primary infusion and secondary purchase.  Established in 2018, SenseHawk is a California-based company that develops…

Reliance Retail Will Launch FMCG Business This Year, Nisha Ambani

Reliance Retail Will Launch FMCG Business This Year, Nisha Ambani

After entering the 5G spectrum, footwear, clothing, etc., Reliance Retail has now found its place in the fast-moving consumer goods (FMCG) industry; the conglomerate is now reportedly in talks to acquire a batch of brands. According to the reports, Reliance Retails on Monday announced the acquisition of brands like Garden Namkeens from CavinKare, Lohri Zeera,…

India Becomes World’s 5th Largest Economy- Beats The UK 

India Becomes World’s 5th Largest Economy- Beats The UK 

India has left behind the United Kingdom to become the world’s 5th largest economy.  As per IMF projections, India is now following only the United States, China, Japan, and Germany in terms of economy.  A decade ago, India was ranked 11th position among the largest economies, while the United Kingdom ranked on fifth place. With…

Indian-Origin Laxman Narasimhan Will Join Starbucks As New CEO

Indian-Origin Laxman Narasimhan Will Join Starbucks As New CEO

Starbucks named India-born  Laxman Narasimhan its next CEO. The world’s biggest coffee chain has elected an executive who is acknowledged to revive ‘Lysol,’ the disinfectants maker company. As a Chief Executive Officer, Mr Narasimhan has served Reckitt, the company that manufactures Durex condoms, Mucinex cough syrup, and Enfamil baby formula. FTSE-listed Reckitt shares dropped by…

World Economy Is Battered, India’s Q1 GDP Numbers Are Out

World Economy Is Battered, India’s Q1 GDP Numbers Are Out

Europe’s economy is encountering severe inflation due to the Russian-Ukraine war and endangering energy shortage, and now all eyes are on India, as its Quarter 1 GDP growth is 13.5%.  2022 was expected to be the year of bouncing back after two tough phases of the pandemic, but the economies worldwide are not completely recovered…