Nutrition snacking start-up Kikibix has raised USD 300,000 from founders and co-founders of nine unicorns, including Mama Earth, Pristyn Care, Fashinza etc, the company said on Friday. Early-stage venture capital firms Blume Ventures led the funding round and US-based Angelist also participated in the fundraising. Founded by paediatrician Ridhi Kaur in 2022, the company makes [...]
Global macroeconomic and financial sector headwinds are set to take a deep toll on the domestic IT companies' revenue growth in FY24, a report said on Friday. The Rs 10 lakh crore sector is likely to witness revenue growth plunging by up to 9 percentage points to 10-12 per cent in FY24 as against the [...]
Water treatment company Va Tech Wabag (WABAG) has bagged a Rs 4,400-crore seawater reverse osmosis project in Tamil Nadu which after completion would be the largest sea-water desalination project in the South East Asia region. The project has been bagged in a joint venture with Metito Overseas Ltd and will be implemented on a design, [...]
Cash-strapped Sri Lanka is exploring the options for domestic debt restructuring in the post-IMF bailout scenario to further stabilise its shaken economy, an official statement said on Friday. Sri Lanka received USD 330 million this month as the first tranche of the International Monetary Fund (IMF) bailout programme, which will pave the way for the [...]
Commerce Secretary Sunil Barthwal on Friday said India is ready to trade in Indan Rupee with countries which are facing currency failure or have dollar shortage. Speaking after the unveiling of Foreign Trade Policy (FTP) 2023 which seeks to increase India's exports to USD 2 trillion by 2030, the secretary also said the government is [...]
Zee Entertainment Enterprises Ltd (ZEEL) has entered into a one-time settlement agreement with Standard Chartered Bank for the loan taken by Siti Networks, a part of the Essel Group. Standard Chartered Bank had sanctioned certain credit facilities to Siti Networks, which was inter-alia secured by DSRA (Debt Service Reserve Account) support and undertaking from ZEEL. [...]
The government on Friday came out with Foreign Trade Policy (FTP) 2023 which seeks to boost the country's exports to USD 2 trillion by 2030 by shifting from incentives to remission and entitlement based regime. Unlike the practice of announcing 5-year FTP, the latest policy has no end date and will be updated as and [...]
IT services company HCL Technologies will hire 1,000 people in Romania in the next two years as it scales up operations in that country. HCL Tech, which completed five years of operations in Romania, will ramp up its offices in Bucharest and Lasi. A third of the new roles will be offered to graduates recruited [...]
Integrated facilities management Updater Services Ltd (UDS) has filed preliminary papers with capital market regulator Sebi to raise funds through an initial public offering. The Initial Public Offering (IPO) will comprise fresh issue of equity shares aggregating up to Rs 400 crore and an Offer For Sale (OFS) of up to 1.33 crore equity shares by [...]
Automation solutions provider Schneider Electric has appointed Deepak Sharma as its MD and CEO and "Zone President for Greater India region". Sharma's appointment is effective from May 1, 2023, the company said in a statement. "Schneider Electric announces the appointment of Deepak Sharma as Zone President, Greater India and MD & CEO, SEIPL. Sharma will [...]
