BUSINESS
Kristalina Georgieva Reappointed for Second Term as IMF Managing Director
A statement released by the Executive Board's coordinators, Afonso S. Bevilaqua and Abdullah F. BinZarah, confirmed the decision, highlighting Georgieva's exceptional leadership during her first term in navigating significant global challenges.
India's Industrial Output Surges by 5.7% in February
Of particular significance is the performance of the manufacturing sector, which serves as a crucial source of employment for recent engineering and university graduates. This sector recorded a solid growth rate of 5 percent during the same period.
India's Foreign Exchange Reserves Reach Record High of $648.56 Billion
This marks the seventh consecutive week witnessing a notable increase in the overall reserves. In the previous week ending March 29, the forex reserves had escalated by $2.95 billion, following a cumulative rise of $26.5 billion over the preceding five weeks.
Vodafone Idea Unveils Rs 18,000-cr FPO: Mark Your Calendars for April 18
The funds raised will be instrumental in facilitating Vodafone Idea's efforts to bolster its 4G services, prepare for the much anticipated 5G rollout, and address pending vendor dues. This strategic maneuver comes at a critical time for the company, which has been grappling with a significant loss of subscribers and persistent quarterly losses, weighed down by a massive debt of Rs 2.1 lakh crore.
India's Fintech Sector Surges with Impressive 59% Growth in Q1 2024
The total funding infusion into the fintech arena saw a remarkable surge of 59 percent in Q1 2024 when juxtaposed with Q4 2023, underscoring the resilience of India's fintech domain amidst a dynamically evolving economic milieu.
Elon Musk's India Journey: A Meeting with PM Modi on the Horizon
In a recent statement shared via X, Musk revealed his excitement about the scheduled encounter with PM Modi, set to take place during the week of April 22 in New Delhi, as reported by various media outlets.
Mutual Fund SIP Investments Reach Rs 2 Lakh Crore in FY24
Comparing this remarkable figure with previous years reveals a significant upward trend. In the fiscal year 2022-23, inflows through SIPs amounted to Rs 1.56 lakh crore, while it stood at Rs 1.24 lakh crore in 2021-22 and Rs 96,080 crore in 2020-2021, according to data provided by the Association of Mutual Funds in India (Amfi). This consistent growth trajectory underscores the increasing popularity of SIPs as a preferred investment route among investors.
Elon Musk Set to Touch Down in India, Unveil Investment Strategies During PM Modi Encounter: Report
Despite the anticipation surrounding Musk's visit to India, neither the tech mogul nor his electric car company has officially confirmed the trip as of yet.
Neysa, an Indian AI Startup, Secures $20 Million Investment to Drive GenAI Adoption
In a significant development, Neysa, a burgeoning AI cloud and platform-as-a-service (PaaS) startup, announced on Wednesday that it has successfully secured a substantial investment of $20 million (equivalent to nearly Rs 166 crore). This funding round was spearheaded by prominent investment firms including Matrix Partners India, Nexus Venture Partners, and NTTVC.
India's Unicorn Count Drops After Four-Year Growth; Byju's Sees Largest Global Valuation Dip: Report"
One notable exclusion from the list is the edtech giant Byju's, which had a valuation of over USD 22 billion a year ago but has since fallen below the USD 1 billion mark. This decline in valuation marks one of the most significant drops among startups worldwide, according to the Hurun report.
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