BUSINESS
PhonePe fully separates from parent company Flipkart
Following the partial separation announced in December 2020, Flipkart and PhonePe are now established as separate entities, the company said in a statement. The PhonePe Group was acquired by the Flipkart Group in 2016. "We are confident PhonePe will continue to scale and achieve its vision of providing financial inclusion to millions of Indians," said Kalyan Krishnamurthy, CEO of Flipkart Group.
Twitter lays off more employees from public policy team
A member of the Twitter public policy team tweeted late on Thursday that she has been laid off. "Yesterday was my last day at Twitter, as half of the remaining Public Policy team was cut from the company. It's hard to convey how fortunate I feel to have had this exceptional opportunity. This was, indeed, a dream job," posted Theodora (Theo) Skeadas.
S&P Global Ratings downgrades Pakistan's credit score
"Pakistan's already low foreign exchange reserves will remain under pressure throughout 2023, barring a material decline in oil prices or a step-up in foreign assistance," S&P analysts Andrew Wood and YeeFarn Phua wrote, The News reported. The country also faces elevated political risks which may affect its policy trajectory over the next year.
India smartphone market to grow 10% to reach 175 mn units in 2023
India currently has more than 600 million smartphone users, a number which is expected to grow over time as more feature phone users migrate to smartphones. The replacement demand from these users will drive the market in 2023 and beyond, according to Counterpoint Research.
Traders' body demands rollout of robust e-commerce policy, formation of regulatory authority
Khandelwal joined by Kailash Lakhyani, Chairman, All India Mobile Retailers Association (AIMRA) and Sridhar, President, South India Organised Retailers Association (ORA) said that e-commerce trade in India is like an orphan or unwanted child since even being one of the important vertical of retail trade which is fast growing is devoid of any rules & regulations giving ample advantage to foreign e portals to make the e-commerce landscape as an open playground for their game of valuation and not doing the trade.
Musk's private jet tracking account back on Twitter, with 24-hr delay
Last week, Twitter had suspended the '@ElonJet' account, created by a college student Jack Sweeney, which provided regular updates of Musk's flights by using publicly available data.Now, Sweeney has created a new account '@ElonJetNextDay' which tracks the private jet of Musk, but with a 24-hour delay.In January, Musk had offered Sweeney $5,000 to remove the @ElonJet account.
198 govt companies/corp incur accumulated losses of Rs 2,00,419 crore: CAG report
"As a result, the aggregate net worth of these companies had become negative to the extent of Rs 1,13,894 crore as on March 31, 2021. Only 20 out of these 88 companies earned a profit of Rs 973 crore during the year 2020-21," the General Purpose Financial Reports of Central Public Sector Enterprises (CPSEs) Union Government (Commercial) - Report No. 27 of 2022, tabled in Parliament on Thursday, said.
RIL subsidiary acquires 23.3% stake in Exyn Technologies
In an intimation to the stock exchanges, RIL said RSBVL and Exyn have also entered into a Strategic Partnership Agreement for technology collaboration and commercialisation of Exyn's technology. Exyn is an early stage technology company, incorporated in Delaware, in 2014 with headquarters in Philadelphia, Pennsylvania.
Maruti Suzuki to launch two new SUVs, showcase electric SUV at AutoExpo
Apart from the two new SUVs, Maruti Suzuki will also showcase its concept electric SUV and flex fuel at the AutoExpo, Senior Executive Director, Marketing & Sales, Shashank Srivastava told reporters in a video conference. Queried about whether the two SUVs to be launched will be produced by Toyota Kirloskar Motors as it is being done in the case of Grand Vitara, he said further details will be announced at the AutoExpo.
Mumbai airport achieves top ACI rating, among 31 in the world
With CSMIA's entry, there are now just 31 airports worldwide that have achieved the distinction of a Level 4+ accreditation and among only 3 in the entire Asia-Pacific Region, as the airport aspires to become a net-zero carbon emission by 2029 for its target of a 'green airport' in next seven years.
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