BUSINESS
'DotPe' raises about Rs 200cr from Google, PayU, Info Edge Ventures
The round was led by its early investor, PayU, the payments and fintech business of Prosus, resulting in an increase in the existing stake in the company. Info Edge Ventures has doubled down on its seed investment in the company made last year and more than doubled its shareholding, while Google joined as a new investor.
Amazon denies workers 'pee in bottles' amid mounting evidence
Replying to a tweet from US Representative Mark Pocan (D-WI), the e-commerce behemoth said the company's union-busting tactics allegations are baseless. "Paying workers $15/hr doesn't make you a 'progressive workplace' when you union-bust & make workers urinate in water bottles," Pocan said in a tweet on Thursday.
Equity indices in green, Sensex up 400 points
The indices rose as investors took to bargain buying after the recent decline over concerns of resurging Covid-19 cases both globally and in India. Around 10.10 a.m., Sensex was trading at 48,851.63, higher by 411.51 points or 0.85 per cent from its previous close of 48,440.12 points. It opened at 48,969.25 and has touched an intra-day high of 49,044.44 and a low 48,699.91 points.
Amazon asks India not to change rules till probe is complete: Report
At a high-level meet on Thursday attended by 25 e-commerce players, an Amazon executive told Commerce Ministry officials that the Competition Commission of India and the Enforcement Directorate were probing the allegations and "it would be premature to make any policy change" until those proceedings have concluded, the report in the global news wire said.
US economic growth in Q4 revised up to 4.3%
"Whether measured by Gross Domestic Product or by Gross Domestic Income, the economy has not yet completely crawled out of the pandemic-induced hole into which it tumbled a year ago," Jay Bryson and Shannon Seery, economists at Wells Fargo Securities, wrote in an analysis on Thursday.
Samsung denies reports of building network equipment plant in India
Foreign media recently reported that Samsung is looking to build the facility in Uttar Pradesh, east of New Delhi, to manufacture 4G and 5G network equipment. They added that the South Korean tech giant applied for the Indian government's production-linked incentive (PLI) scheme to get tax benefits.
RBI flags major concerns over cryptocurrency
Speaking at the Times Network India Economic Conclave, the Governor said that digital currency is one thing and the cryptocurrencies which are being traded in the market is something else. The statement from the central bank governor gains significance as the government is set to come up with a Bill on cryptocurrency wherein it is likely to ban all such cryptocurrencies.
Lok Sabha adjourned sine die, Budget Session cut short by 14 days
The Budget Session was originally scheduled to continue till April 8. The move comes after requests by floor leaders of various political parties to cut it short due to the Assembly elections in West Bengal, Assam, Tamil Nadu, Kerala and Puducherry, which will take place between Saturday to April 29.
Rajya Sabha passes National Bank for Financing Infrastructure and Development Bill
The Bill will enable the establishment of the National Bank for Financing Infrastructure and Development to support the development of long term non-recourse infrastructure financing in India, including the development of the bonds and derivatives markets necessary for infrastructure financing and to carry on the business of financing infrastructure.
FY22 growth estimate of 10.5% need not be revised: RBI Governer
"The revival of economic activity which has happened should continue unabated going forward. My understanding and our preliminary analysis show that the growth rate in next year, which is at 10.5 per cent which we had given could not require, I repeat, would not require a downward revision," he said.
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