New Delhi, Apr 19 (PTI) Singapore state investment firm Temasek has backed an investigation into fashion technology startup Zilingo Pte's accounting practices saying it supports the company board's move. In a strongly-worded statement, Temasek said, "We expect our portfolio companies to abide by the sound corporate governance and codes of conduct and ethics. We are, [...]
New Delhi, Apr 19 (PTI) Tata Steel has inked a pact with Australia-based mining services provider Thiess to offer mine technical services in areas such as exploration, resource evaluation and mine planning in India and abroad. The company will work closely with Thiess India Engineering Hub, which provides technical support to Thiess' global operations, in [...]
New Delhi, Apr 19 (PTI) Healthcare and insurance startup Loop on Tuesday said it has raised USD 25 million (over Rs 190 crore) in a funding round co-led by General Catalyst and Elevation Capital (formerly Saif Partners).The series B funding round also saw participation from leading Silicon Valley investor Vinod Khosla and Khosla Ventures, Sierra [...]
Kolkata, Apr 19 (PTI) TMC Rajya Sabha MP Jawhar Sircar Tuesday said West Bengal’s ruling party “strongly feels” that the BJP-led central government was “fuelling” inflation, instead of controlling it, due to its handling of the economic impact of the Russia-Ukraine crisis. He said the TMC also took exception to the Centre’s economic policies that [...]
New Delhi, Apr 19 (PTI) Consumer electronic maker Samsung India expects a nearly 25 per cent growth in the LED TV segment this year as well as aims to capture around 36 per cent share of the overall TV market by bringing products with the right proposition and new technologies, according to a senior company [...]
Mumbai, Apr 19 (PTI) Kairali Ayurvedic Group has budgeted Rs 100 crore investments towards domestic expansion and set a target of closing this fiscal with a Rs 100 crore topline. The group has pioneered the concept of ayurvedic spas by launching its maiden venture in Kerala's Palakkad district in the late 1990s.The group founder KV [...]
New Delhi, Apr 19 (PTI) Audio entertainment platform Headfone has raised USD 10 million (about Rs 76 crore) in funding led by Elevation Capital. The series B funding round also saw participation from existing investor Hashed as well as prominent angels, including Ajit Mohan (founding CEO, Hotstar), Biswa Kalyan Rath (entertainer) and Anshumani Ruddra (group [...]
Reliance Brands Ltd (RBL) on Tuesday said it will acquire a majority stake of 51 per cent in leading couture house Abu Jani Sandeep Khosla (AJSK) for an undisclosed amount. The Reliance group firm has signed a definitive agreement to invest either by itself or through its affiliates in AJSK, as per a joint statement. [...]
Mumbai, Apr 19 (PTI) Bengaluru-based agritech company Ergos The GrainBank on Tuesday said it aims to garner Rs 2,000 crore revenue by 2023-24 as well as expand its footprint to 650 locations. The company is looking to expand across Bihar, Karnataka, Maharashtra and Uttar Pradesh in the next one year. It clocked over Rs 142 [...]
Washington, Apr 19 (PTI) The International Monetary Fund on Tuesday projected a "fairly robust" growth of 8.2 per cent for India in 2022, making it the fastest-growing major economy in the world, almost twice faster than China's 4.4 per cent.The global growth has been projected at 3.6 per cent in 2022, down from 6.1 per [...]
New Delhi, Apr 19 (PTI) Housing finance major HDFC Ltd on Tuesday divested 1 per cent stake in real estate company Ansal Housing & Construction Ltd through an open market transaction. According to bulk deal data available with the NSE, Housing Development Finance Corporation Ltd (HDFC) sold a total of 5,74,726 shares, amounting to 0.96 [...]
Mumbai, Apr 19 (PTI) Sliding for the fourth straight session, the rupee depreciated by 21 paise to close at 76.50 against the US dollar on Tuesday, hit by persistent foreign fund outflows and prevailing risk-off sentiment globally amid geopolitical tensions. At the interbank foreign exchange market, the rupee opened at 76.34 against the American currency [...]
Kathmandu, Apr 19 (PTI) Nepal's Supreme Court on Tuesday stayed the government’s decision to suspend Central Bank Governor Maha Prasad Adhikari, amidst reports that the move was triggered due to his differences with Finance Minister Janardhan Sharma. A single bench of Justice Hari Prasad Phuyal issued a short-term interim order urging the government not to [...]
Mumbai, Apr 19 (PTI) Indian Staffing Federation (ISF) on Tuesday said facility management and security services companies will be part of the grouping. The alignment between the subsects of the manpower outsourcing industry - facility management and security services - is similar and the current representation across the labour market issues impacts each of these [...]
Chennai, Apr 19 (PTI) A Green Hydrogen Policy would be unveiled and a study would be taken up for identifying, in association with the Indian Railways, contours for setting up a highspeed rail corridor in the state, the Tamil Nadu government announced on Tuesday in the Assembly.The Industries Department shall be renamed as Industries, Investment [...]
New Delhi, Apr 19 (PTI) Steel Minister Ram Chandra Prasad Singh on Tuesday asked the steel CPSEs to utilise their Rs 1,3156-crore Capex to enhance the production capacity, modernisation of plants and install environmentally-efficient technologies.The minister made the above remarks while chairing a meeting of steel CPSEs to review the capital expenditure incurred by them [...]
Chennai, Apr 19 (PTI) The Indian Hotels Company Ltd, the largest hospitality company on Tuesday announced signing an agreement to set up another Taj hotel in the city, as part of plans to strengthen its presence in key markets across the country. With the addition of the new hotel, IHCL would have 13 in Chennai, [...]
Chennai, Apr 19 (PTI): Technology start-up Hawking Defence Services Pvt Ltd on Tuesday said it has signed a memorandum of understanding with Australian UAV Technologies, a New South Wales- based Unmanned Aerial Vehicle and electronic company. The MoU would establish a joint venture company which would enable technology transfer, joint research and development and licensed [...]
New Delhi, Apr 19 (PTI) Max Ventures and Industries Ltd on Tuesday said its board has approved amalgamation of the company with its wholly-owned subsidiary Max Estates Ltd as a part of group's restructuring exercise and to focus completely on real estate business.In November, Max Ventures and Industries had announced an exit from specialty packaging [...]
New Delhi, Apr 19 (PTI) Underdog Athletics on Tuesday said it has been appointed as the exclusive distributor and licensee for the US-based athletic performance apparel and footwear brand Under Armour in India. As part of Under Armour's expansion in India, it plans to open 10 stores per year in the country along with expanding [...]
