BUSINESS
Ola Electric raises $200 mn to reach $5 bn valuation
"We have changed the entire scooter industry and are now looking forward to bringing our innovative products to more two-wheeler categories including bikes as well as cars. I thank the investors for their support and look forward to partnering with them to take the EV revolution from India to the world," Bhavish Aggarwal, Founder and CEO, Ola said in a statement. Ola Electric announced it has raised over $200 million from Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss and others.
Decline in equity continues for 5th straight sessions; Sensex, Nifty slip 1%
The 30-scrip Sensitive Index (Sensex) and broader 50-scrip Nifty on National Stock Exchange (NSE) extended losses from January 21 and declined sharply during early trade on Monday primarily due to sell-off by foreign institutional investors. This is the fifth consecutive decline in sessions for the indices. At 10.20 a.m., Sensex traded at 58,58,402 points, down 1.1 per cent or 635 points from the previous close of 59,037 points.
India on way to become 'Pickle King of the World'
India has exported cucumber and gherkins to the tune of 1,23,846 metric tonnes (MT) with a value of $114 million during April-October 2021. In 2020-21, India had shipped 2,23,515MT of cucumber and gherkins with a value of $223 million.
India's December gems, jewellery exports up 29% against pre-pandemic 2019
India's gem and jewellery exports during December 2021 grew 29.49 per cent to $3,040.92 million (Rs 22,914.6 crore) as compared to $2,348.44 million (Rs 16,712.46 crore) in December 2019 -- the pre-pandemic year, the Gem and Jewellery Export Promotion Council said. Besides, exports during April-December rose 5.8 per cent to $29,084 million from $27,500 during the same period of 2019.
Budget-22: Davos speech indicates infra on PM-FM's mind, industry chips in its own suggestions
Through innovative financing tools like asset monetisation, a target to generate $80 billion has been set and India has also launched the 'Gati Shakti National Master Plan' to bring every stakeholder on the same platform for promoting development. Under this National Master Plan (NMP), work will be done on infrastructure planning, development, and implementation in an integrated manner. This will give a new impetus to seamless connectivity and movement of goods, people, and services.
Activist investor Nelson Peltz builds stake in Unilever
People with direct knowledge of the matter told the Financial Times that the $8.5 billion New York-based hedge fund had taken a position in the UK group's shares, adding to the challenges facing chief executive Alan Jope. The Unilever boss is already facing simmering shareholder discontent after its 50 billion pounds attempted takeover of GSK Consumer Health.
India's December gems, jewellery exports up 29% against pre-pandemic 2019
Besides, exports during April-December rose 5.8 per cent to $29,084 million from $27,500 during the same period of 2019. "The holiday bounce has managed to offset part of the post-Diwali export slump when factories normally take a short break. Holiday and festive demand was robust in important trading centres such as the US, Hong Kong, Thailand, and Israel," Council Chairman Colin Shah said.
What to expect from Rail Budget 2022
Finance Minister Nirmala Sitharaman will present her fourth budget on February 1 and according to sources, the Central government is going to increase the outlay for the rail budget this time by 15-20 per cent. Last year, the government had allocated Rs 1,10,055 crore to the Railways. This time, an amount of around Rs 2.5 lakh crore is likely to be earmarked.
Amazon makes offer to Future Retail for acquisition by an entity led by Samara Capital
"We note that significant time has been lost on account of the unwillingness of FRL and the independent directors to consider potential solutions facilitated by Amazon in the past. Nevertheless, we reaffirm our offer to assist FRL within the framework of our rights under the Agreements", Amazon said in a letter to the independent directors of Future Retail.
Demand for office space up 50% in 2021 led by startups, tech cos: Colliers
In 2021, total absorption in the office space segment was 6.3 million square feet, it said. Of the total, startups absorbed 1 million square feet. "Gurugram led the leasing activity accounting for 64 per cent share in overall transactions. Flight to quality is driving occupiers' real estate strategy and Noida Expressway, Golf Course Extension Road and DLF Cybercity drove the bulk of leasing activity as they looked for better-quality buildings," it added.
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