BUSINESS
Mobile phone exports from India cross Rs 45,000 cr in April-Aug period, Apple leads
As per the estimates by the Department of Commerce and the India Cellular and Electronics Association (ICEA), accessed by IANS, the April-August period saw mobile phone exports worth $5.5 billion, against $3 billion (about Rs 25,000 crore) in the same period in FY22-23.
Nomura sees softness in Indian markets driven by higher oil prices as opportunity to raise exposure
“We see recent softness driven by higher oil prices as an opportunity to raise exposure. While this weakness may persist in the near term, thus presenting even better timing, we think the window of opportunity might not be open for too long. Valuations are expensive but will likely remain so in a scenario of policy/government continuity," Nomura said in a report.
IT Department searches offices of Chinese electronic giant Lenovo in Mumbai, Bengaluru, Gurugram
"Yes, the teams of the IT Department are carrying out searches at premises of Lenovo in Mumbai, Gurugram and Bengaluru," an IT Department source told IANS.
Just like Elon Musk in US, we need more industry people in space sector: ISRO chief
Addressing AIMA's annual convention in the national capital, Somnath said, "We want to see more industry people in the space sector. Just like Elon Musk is there in the US, we need somebody like him to invest here. Though it's not an easy sector and is an unforgiving domain. It requires personal passion... Failures will be there. So my advice will be to start in the applications segment, like ground equipment manufacturing."
Pharma stocks top gainers in trade
However, persistent outflows of foreign funds and rising US bond yields are expected to keep the broader indices in bleak terrain, in the near-term, he said on Wednesday.
Fintech firm Bright Money raises $62 mn in equity, debt round
The funding includes $50 million in debt from Encina Lender Finance and $12 million in equity led by Alpha Wave, Hummingbird, and PeakXV.
Unicorn Zepto leads India’s ‘Top Startups List’ by LinkedIn
Zepto was placed 4th last year on the annual ranking of emerging companies in the country. In August, the company achieved unicorn status -- India’s first this year -- with $200 million in fresh funding in its Series E round.
Dilip Shanghvi terminates investor agreement with Suzlon
Dilip Shanghvi and Associates, referred to as the 'Investor Group', who had entered into an amended and restated shareholders’ agreement dated February 28, 2020 with the promoters/promoter group of the company and the company, have informed the company and the other shareholders, who are party to the agreement, that the Investor Group has decided to terminate the agreement in accordance with the terms of the agreement, Suzlon said.
DGGI slaps Dream11, other online gaming firms tax notices totalling Rs 55,000 crore
The GST department has issued a notice exceeding Rs 25,000 crore directed towards fantasy sports platform Dream11. No official from Dream 11 was available for comment on the matter till the filing of this report.
Climate change, tech and geopolitics will shape future of business: Tata Steel CEO
Narendran pointed out that the global steel industry contributes 8 per cent of the total emissions and the governments in Europe are discussing green steel with the industry.
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