BUSINESS
Indian startups must brace for a long funding winter: Flipkart CEO
“This is going to be tough next year. My estimate is that a lot of startup founders will hit the market between April to June next year, and that’s the moment of truth for the ecosystem,” Krishnamurthy said during an event organised by The Economic Times. Krishnamurthy told the gathering that startup founders should embrace a down-round and restructure their firms.
India 5G tablet shipments grow 61% QoQ in Q3, Samsung leads
"Shipments of 5G tablets continued to gain strength in Q3 2022. This is driven by the recent 5G auctions, and the beginning of the 5G era. The growth in 5G Tablets is consistent with the trends seen in the 5G smartphone market," said Menka Kumari, analyst, Industry Intelligence Group (IIG), CMR.
UPI payment apps may impose transaction limit
Soon users may not be able to make unlimited payments via UPI payment apps. The National Payments Corporation of India (NPCI), which operates the UPI digital pipeline, is in discussions with the Reserve Bank about implementing its proposed December 31 deadline for limiting player volume to 30 per cent.
Chingari introduces new monetisation plan for creators, users
Creators and users will be offered daily, weekly and monthly subscription plans for monetisation for as low as Rs 20. The platform said that subscription plans will allow creators and users to withdraw their earnings directly into their bank account. “This is another step towards the democratisation of the creator economy where micro and nano-influencers from tier 2 and tier 3 cities can also monetise their content at a minimal cost,” said Sumit Ghosh, CEO and Co-Founder, Chingari.
Drop below $500 billion in India's forex reserves would force RBI to hike more aggressively
In other words, the Reserve Bank of India (RBI) could start to accumulate reserves again should the USD start to weaken. This would keep the rupee underperforming, the report said. The RBI has used close to $100 billion of FX reserves since late 2021 to defend the currency. Such action makes sense as it had been accumulating FX reserves before that and it wants INR stability in order not to import inflation, the report added.
Bangladesh PM hopes to import oil from India by 2023 via proposed pipeline
She made the remarks on Sunday during a meeting with Speaker of the Assam Legislative Assembly, Biswajit Daimary at her official Ganabhaban residence in Dhaka. The Speaker led a four-member delegation which is part of a team of 32 MLAs from the northeast visiting Bangladesh.
Pakistan-IMF talks hit roadblock again
Dar, who took over in September, has managed to do little for the economy so far. And now, amid Pakistan's reluctance to impose additional taxes on petroleum products as prescribed by the multilateral agency, talks between Islamabad and IMF, which were supposed to be held last month have not taken place. An analyst tracking South Asian economies said that there is no clarity on the review meeting. This has once again triggered fresh fears of a sovereign default.
Companies discussing labour shortage up by 28% in 2022: Report
This shows a continuous uptrend that was witnessed in recent years, while sentiment fell by 20 per cent, reveals GlobalData, a leading data analytics company. Semiconductor and supply were another top keywords discussed around the topic. The industries with the highest labour shortage discussions include construction, technology, packaging and consumer while financial services had the highest growth in terms mentioned.
Bob Iger returns as Walt Disney CEO, Bob Chapek steps down
Iger, who left the company last year, after spending more than four decades at the company, including 15 years as its CEO, has agreed to serve as Disney's CEO for two years. He will work closely with the Board in developing a successor to lead the company at the completion of his term, Disney said in a statement late on Sunday.
Finance Minister to begin pre-budget consultations from Monday
On Monday, she will hold consultations with the industry captains and experts on infrastructure and climate change in two groups. On November 22, Sitharaman will meet representatives of agriculture and agro processing sectors. Later on the same day, she will meet representatives from the capital markets and financial sectors. Representatives from the service, trade, and social sectors would meet her on November 24 to discuss the sectoral issues for the Union Budget 2023-24.
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