UAE Emerges As Fourth Largest Investor In India, FY23
In a significant development for India’s economy, the United Arab Emirates (UAE) has emerged as the fourth largest investor in the country during the fiscal year 2023. This remarkable feat not only underscores the strengthening of bilateral relations between the two nations but also highlights the growing confidence of foreign investors in India’s business landscape….
Yash Sharma
India’s Digital Revolution: RBI Aims For 1M CBDC Users
In a bold move towards advancing India’s digital transformation, the Reserve Bank of India (RBI) is setting its sights on reaching one million Central Bank Digital Currency (CBDC) users by the end of this month. The Deputy Governor of RBI, alongside other key officials, announced this ambitious target as part of their commitment to fostering…
Shipra Prajapati
BharatPe Appointed CRO, CBO and Consumer Lending Head
Leading fintech firm, BharatPe, recently announced three significant appointments for mentorship, company growth, and success. On Monday, the company appointed Kohinoor Biswas as the head of Consumer Leading Business. Biswas will take care of the entire PostPe operations, launched in 2021 with ‘Buy Now Pay Later’ (BNPL). He will report to Nalin Negi, the CFO…
John David
India’s Internet Economy To Reach $1 Trillion By 2030
According to a joint report published by Google, Bain & Company, and Temasek, India has the potential to become a $1 trillion internet economy by 2030. Sanjay Gupta, Manager & VP, Google India, commented on the rising dominance of India’s internet economy, claiming it to register a six-fold growth, majorly because of the e-commerce verticals…
Microsoft Settles For $20M in Illegal Children’s Data Collection
In a landmark settlement, Microsoft has agreed to pay a hefty $20 million fine to resolve charges of unlawfully collecting children’s data in the United States. The settlement, announced recently by the Federal Trade Commission (FTC), serves as a stern reminder of the critical need for technology companies to prioritise the privacy and protection of…
Oil Price Plunge-Producers Grapple With Volatility
In a bid to combat falling oil prices and volatile market conditions, oil-producing countries have once again agreed to production cuts. The recent meeting of OPEC+ nations, led by Russia, resulted in Saudi Arabia announcing a voluntary reduction of one million barrels per day (bpd) in July. Additionally, OPEC+ has agreed to further cuts of…
Ukraine Satellite Services Contract Awarded To SpaceX’s Starlink
It was getting expensive to fuel Starlink in Ukraine, an endeavour that was burning more than 20 million dollars per month on average. The CEO, Elon Musk, had clearly stated that he couldn’t continue to fund Starlink if things followed a similar trend. However, Starlink’s operation in Ukraine will not come to a halt because…
Indian IT Braces for Slowing Growth and Challenging Hiring Prospects
In a recent report, domestic rating agency Icra has projected a further deceleration in the revenue growth of Indian IT companies, which are already grappling with headwinds in the industry. The nearly USD 250 billion sector is expected to witness a slowdown to mid-single digits, placing significant pressure on the sector’s stability and prospects. The…
Telcos’ 25% Hike in SMS Tariffs: A Short-Sighted Move Hurting Global Firms
In a surprising move, telecommunications companies have recently announced a 25% increase in SMS tariffs for global giants like Amazon and Meta. This decision has sent shockwaves through the business community, raising concerns about the long-term implications for both the telecom industry and these multinational corporations. While telcos argue that the tariff hike is necessary…
Atomberg Raises $86M to Transform Indian Appliance Market
In a significant development for the Indian appliance market, Atomberg Technologies, a leading smart and energy-efficient fan manufacturer, has announced a successful Series C funding round. The funding, amounting to $86 million, was led by prominent investment firms Temasek and Steadview Capital. This significant injection of capital marks a turning point for Atomberg Technologies, setting…
