BUSINESS
Record 43 unicorns among over 2200 startups India added in 2021, $24.1 billion raised: NASSCOM
The report titled “Indian Tech Start-up Ecosystem: Year of The Titans” hailed the Indian startups saying that it raised over USD 24.1 billion in 2021. 2021 saw startups securing thrice the number of valuable deals (counted as above USD 100 million) than it did in 2020. This is a testimony of investor confidence which boasted of over 2400 angel investors and the increasing appetite to take financial risks.
Global crypto market suffers $1 trillion loss as Bitcoin crashes
Bitcoin was hovering at $35,000 per coin and the largest digital asset by market value has lost nearly 50 percent since reaching its peak in November 2021.
Amazon faces probe for illegally firing a US worker: Report
The US National Labor Relations Board (NLRB) is preparing to issue a formal complaint against Amazon for illegally firing Daequan Smith who has since been homeless.
Google moves to court against antitrust suit, denies collusion with FB
Led by Texas Attorney General Ken Paxton, the lawsuit which was filed last week alleged that Zuckerberg and Pichai "personally approved a secret deal that gave the social network a leg up in the search giant's online advertising auctions". In a blog post late on Friday, Google said that the allegation that we somehow "colluded" with Facebook Audience Network (FAN) through our Open Bidding agreement is "simply not true".
Vodafone Idea's net losses widen YoY in Q3FY22, ARPU improves sequentially
Revenue from operations during the quarter declined to Rs 9,717 from Rs 10,894 crore in the same period in the corresponding fiscal. However, the Average Revenue Per User during the quarter stood at Rs 115, as against Rs 109 in Q2FY22, an increase of 5.2 percent quarter-on-quarter.
Tepid two-wheeler sales to subdue FY22 YoY domestic auto volumes: Ind-Ra
Accordingly, Ind-Ra said domestic sales volume is likely to either be flat or decline to the extent of 4 percent YoY as against its earlier expectation of 12-15 percent growth.
Intel to invest $20 bn on 2 new chip factories in US
The initial phase of the project in New Albany near Columbus, Ohio, is expected to create 3,000 Intel jobs and 7,000 construction jobs over the course of the build, and to support tens of thousands of additional local long-term jobs across a broad ecosystem of suppliers and partners. "Intel's actions will help build a more resilient supply chain and ensure reliable access to advanced semiconductors for years to come," said Pat Gelsinger, CEO of Intel.
QR codes on drug manufacturing ingredients mandatory from next year
"Every active pharmaceutical ingredient manufactured or imported in India shall bear a quick response code on its label at each level, packaging that store data or information readable with software application to facilitate tracking," said Union Health Ministry in a gazette notified guidelines. It has been made mandatory to put QR codes on Active Pharmaceutical Ingredients used in medicines which is expected to help in distinguishing between genuine and counterfeit drugs much easier.
Confirm willingness to fund debt owned to lenders: FRL independent directors to Amazon
Notably, the question to Amazon was posted after the e-commerce giant in an earlier letter to independent directors objected to the sale of Future Retail Ltd (FRL)'s small-format stores.
India's forex reserves rise by over $2 bn
The Reserve Bank of India's forex reserves increased to $634.965 billion from $632.736 billion reported for January 7. The country's forex reserves comprises of foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF. Additionally, the SDR value was up by $123 million to $19.220 billion.
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