BUSINESS
Shadowfax Raises $100 Million in Series E Funding Round Led by TPG NewQuest
Abhishek Bansal, CEO of Shadowfax, highlighted the company's resilience in capturing market share amidst challenging economic conditions. He emphasized the robustness of Shadowfax's business model as a key factor in this success.
Zeno Health Secures $25 Million in Funding for Healthtech Innovation
The funding infusion is earmarked to bolster Zeno Health's outreach efforts, expand its market presence, and fortify its technological infrastructure. Siddharth Gadia, CEO and Co-founder of Zeno Health, reiterated the company's commitment to reaching and serving 1 crore consumers monthly, with the ambitious goal of slashing healthcare expenditure by 50 percent.
India Takes a Stand Against China-Led Investment Facilitation Proposal, Deems it Beyond WTO's Trade Scope
A coalition of over 120 nations, led by China, is advocating for the incorporation of the Investment Facilitation for Development Agreement (IFD) proposal into the framework of the WTO. This group aims to address the issue during the 13th ministerial conference (MC), which commenced on February 26 and spans four days.
Vijay Shekhar Sharma Resigns as Chairman of PPBL; Bank's Board Undergoes Reconstitution
Last month, in response to regulatory actions, the central bank imposed restrictions on PPBL, prohibiting the acceptance of fresh deposits or top-ups in various customer accounts, including wallets and FASTags, effective initially until February 29, with an extension later granted until March 15.
Sensex Drops 352 Points Amid Profit Booking and Global Weakness
The 30-share BSE index closed at 72,790.13 points, marking a decrease of 352.67 points or 0.48 percent from the previous session's close. Among its constituents, 26 stocks experienced declines while only four managed to advance.
NITI Aayog CEO Announces India's Poverty Rate Dips Below 5%
Subrahmanyam highlighted the success of government poverty alleviation measures, citing the consumer expenditure survey as evidence. The survey segmented the population into 20 categories, revealing that the average per capita monthly expenditure across all categories was Rs 3,773 in rural areas and Rs 6,459 in urban areas.
India's Cautious Approach to Free Trade Agreements: Goyal
Goyal emphasized the importance of extensive stakeholder consultations and inter-ministerial meetings throughout trade negotiations to ensure that FTAs are fair, balanced, and beneficial for all parties involved.
India's Dedicated Funds Experience 49th Consecutive Week of Inflows
There has been a notable resurgence in small cap funds as well, with a total inflow of $280 million over the past nine months. The majority of investments into Indian funds are from US investors ($215 million), followed by Ireland ($177 million) and Japan ($124 million) investors, according to the report.
India's Economy Set to Expand by 6.4% in Third Quarter of Fiscal Year 2024
Economist Jahnavi Prabhakar stated in a report that for Q3FY24, the economy is expected to expand at a slower pace of 6.4 percent compared to 7.6 percent in Q2FY24, primarily due to muted growth in agriculture and industry. However, Prabhakar noted that the service sector is anticipated to contribute positively to overall growth.
According to the report, iPhone shipments grew about 39 per cent to 9.2 million units last year.
The report highlighted a notable increase in iPhone shipments, which grew by approximately 39 percent to 9.2 million units in the same period.
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