BUSINESS
Pfizer, Gilead, GSK to lead $150 bn infectious diseases mkt by 2029: Report
The report by GlobalData, a leading data and analytics company, showed that the infectious diseases market is forecast to grow at a compound annual growth rate (CAGR) of 5.7 per cent between 2023 and 2029 to reach an impressive $150 billion in annual sales in 2029.
Quick commerce platform Dunzo won’t pay employees till early September
The company has also delayed the August salary for senior employees to September 4 as well, it said in an email seen by TechCrunch. The delay comes as the startup focuses on “streamlining our cash flow so we can build a more sustainable business for the future”.
GST officials search UpGrad offices, edtech unicorn says 'routine survey'
Backed by investors such as Temasek, James Murdoch’s Lupa Systems, and World Bank’s International Finance Corporation, upGrad has raised $600 million to date, and was valued at $2.25 billion last year.
Tata Sons to build battery cell gigafactory in UK with investment of over 4 billion pounds
N. Chandrasekaran, Chairman, Tata Sons, said, "The Tata Group is deeply committed to a sustainable future across all of our business. Today, I am delighted to announce the Tata Group will be setting up one of Europe's largest battery cell manufacturing facilities in the UK.
3 crore Income Tax Returns filed till July 18, says I-T Department
"Grateful to our taxpayers & tax professionals for having helped us reach the milestone of 3 crore Income Tax Returns (ITRs), 7 days early this year, compared to the preceding year!" the Department said in a Twitter post. Over 3 crore ITRs for assessment year 2023-24 have already been filed till July 18 as compared to the 3 crore ITRs filed till July 25, 2022.
Samsung maintains top spot in global smartphone market
The global smartphone market declined by 11 per cent (year-on-year) in Q2 as gloomy demand started to impact market leaders like Samsung and Apple which had to reduce their sell-in the same quarter, according to Canalys. Outside of the top two, the decline in smartphone shipments reveals signs of improvement as most vendors' inventory returns to healthier levels while macroeconomic conditions stabilise.
Telegram raises $210 mn via bond sales amid funding crunch
The fund raise comes as Telegram is still not profitable amid the economic downturn where funding is scarce. John Hyman, Telegram Chief Investment Adviser, told TechCrunch that the platform raised the capital by issuing bonds worth $270 million because "interest rates have gone up significantly since 2021, the bonds have a different issue price".
Pakistani rupee significantly declines against USD
The State Bank of Pakistan (SBP) said the greenback traded at 283.04 PKR in the interbank market on Tuesday, Xinhua news agency reported.The U.S. dollar closed at 279.26 PKR on Monday.
Over 1K new crypto coins listed in market in 5 months despite tight regulations
According to data presented by AltIndex.com, 1,023 new cryptocurrencies listed on the market since February. The total number of cryptos increased 75 times between 2013 and 2021, from slightly more than 60 to more than 4,500, according to Statista and Investing.com data.
Weakening of dollar index aiding FII inflows
The heavy inflow helps the market to surge higher, the report said. Last week, the volatility index India VIX ended at 10.68, which was the lowest closing since December 2019. This decline in volatility indicates that there is less fear in the market and investors have adopted risk-on mode, the report said.
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