BUSINESS
Macquarie's comparison of Jio Financial Services with Paytm an assumption made too early
To date, Paytm has seen competition from the likes of WhatsApp, Amazon Pay, PhonePe and Google Pay but so far, none of them have managed to usurp the company's leadership across payments and financial services. Even Macquarie, in its note, said that it is "too early" to understand Jio's current financial services entry, but was quick to make an early comparison with leaders like Bajaj Finance and Paytm.
Bengaluru-based tech firms raised record $7.5 bn in 2022: Report
Bengaluru and London feature among the top 10 cities globally for most amount of VC investment over the last five years, according to the report from London & Partners in partnership with Dealroom. The two major funding rounds for Bengaluru-based companies this year include Swiggy's $700 million round in January and $55.7 million Series D for Ather Energy.
Union Labour Ministry summons Amazon over layoffs
"You (Amazon) are therefore requested to attend this office with all relevant records in the matter either personally or through an authoriSed representative on the aforesaid date and time without fail," the Ministry's notice issued on Tuesday read. The development comes after a complaint filed by the employee union Nascent Information Technology Employees Senate (NITES) in which it has alleged Amazon of violating labour laws.
Under India-Australia trade pact, duties on tariff lines to be eliminated: Goyal
The Ind-Aus ECTA was earlier ratified by the Australian parliament for its implementation. Addressing a press conference, Goyal said that the agreement will come into force soon on a mutually convenient date once both the sides have completed their domestic processes. He said that the ECTA would give a big boost to several sectors of the economy, especially textiles, gems and jewellery and pharmaceutical
Air India tops list in on-time performance, Go First at bottom
As per data from the Directorate General of Civil Aviation, On-time performance of Air India flights was 90.8 per cent followed by Vistara and AirAsia recording on-time performance of 89.1 per cent during October. Similarly, Indigo airline recorded an on-time performance of 87.5 per cent while Spicjet had an on-time performance of 68.9 per cent. Go First was at the bottom with on-time performance of 60.7 per cent during the month.
Domestic air traffic continues growth, Oct traffic records 26.95% rise
As per the data released by aviation regulator DGCA on Tuesday, nearly 1.14 crore passengers were carried by the domestic airlines during October in the country as against 89.85 lakh during the same period last year.
Negotiations on India-UK free trade pact to restart next month: Piyush Goyal
Union Commerce Minister Piyush Goyal, while speaking on the sidelines of a steel industry event, said that the India-UK FTA is a high-priority issue for both the nations and negotiations on it are expected to take place next month. Goyal said he is already in touch with his UK counterpart for the next round of talks on the trade pact.
Three game-changing revolutions will govern India's growth in the decades ahead: Mukesh Ambani
"I am confident that you, the students of PDEU, along with lakhs of other bright young minds from across the nation, will leverage these revolutions to enable India meet its energy goals," he said. Ambani added that this batch of PDEU is graduating during a year that marks the beginning of India's 'Amrit Kaal'.
New-age Indian internet firms continue to bleed as startup IPO dream over
In the last 16 months or so, five of such startup/unicorn's initial public offerings - Paytm, Zomato, Nykaa, Delhivery and Policybazaar - have gone through a bloodbath, shedding more than $18 billion in value. VC firm Lighthouse India Fund III has sold 3 crore Nykaa shares worth Rs 525.39 crore in a bulk deal, as the lock-in period expired for the pre-IPO investors.
'Rosatom has not suffered any pain due to Ukraine war, except on Finnish contract'
Rosatom's First Deputy Director General for Development and International Business Kirill Komarov also said Rosatom is now positioned as an industrial, high technology company in the nuclear and non-nuclear sector. He said that Rosatom is present end-to-end (uranium mining to nuclear plant manufacture, power generation, other uses of nuclear power, reprocessing of spent fuel and decommissioning of old plants) in the nuclear power cycle.
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