Author: News Desk

The Indian Railways has allocated ₹43.87 crore to startups for 23 innovative projects aimed at enhancing services across the national transporter. This initiative addresses 15 specific problem statements, showcasing the Railways’ commitment to fostering innovation. An official statement revealed that the Railways received a total of 423 proposals in response to 28 problem statements posted on their innovation portal, which was launched in June 2022. Financial Support for Startups Approximately ₹10.52 crore of the total funding will go directly to eligible startups engaged in ongoing innovation projects. This financial backing aims to empower startups to develop impactful solutions for the…

Google parent Alphabet (GOOGL.O) is in advanced negotiations to acquire cybersecurity startup Wiz for approximately $23 billion, a source familiar with the matter revealed on Sunday. If finalized, this deal would represent Alphabet’s largest acquisition to date. The acquisition, expected to be funded primarily in cash, could be finalized soon, according to the source, who requested anonymity. Wiz, founded in Israel and now headquartered in New York, is a rapidly growing software startup that offers cloud-based cybersecurity solutions with real-time threat detection and responses powered by artificial intelligence. Should Alphabet proceed with the acquisition, it would mark a significant move…

The Karnataka government has temporarily halted a contentious bill that mandates job reservations for Kannadigas in private companies across the state. This decision comes after widespread debate and criticism over the proposed legislation, which aimed to prioritize local hires amid concerns over job opportunities for residents. Government’s Decision and Chief Minister’s Statement Chief Minister Siddaramaiah announced the pause on implementing the bill, citing the need for further discussion before a final decision is made. The bill, which initially received approval on Monday, proposed reserving 70% of non-management roles and 50% of management-level positions for Kannadigas. However, the Chief Minister emphasized…

The largest stake in Reliance Industries is held by Kokilaben Ambani, the matriarch of the Ambani family and the wife of the late Dhirubhai Ambani. She owns 1,57,41,322 shares, which constitutes a 0.24% stake in the company. Next Generation Stake Mukesh Ambani’s three children—Akash, Isha, and Anant Ambani—each hold 80,52,021 shares in Reliance Industries. This equates to nearly 0.12% stake per child, reflecting the family’s strong investment in the company’s future. Net Worth and Influence Media reports estimate Kokilaben Ambani’s net worth to be around Rs 18,000 crore. Although she does not participate in the day-to-day business operations, her substantial…

The US government is making it simpler for business owners to extend their stay in the country. The International Entrepreneur Rule (IER), originally established during the Obama administration, has been updated to allow foreign entrepreneurs to remain in the US for up to five years if their businesses meet specific criteria related to funding and job creation. What is the International Entrepreneur Rule? The IER, managed by the Department of Homeland Security (DHS), enables non-citizen entrepreneurs to apply for a temporary authorized stay in the US, known as “parole.” This status is granted based on the public benefits their business provides. Entrepreneurs can work exclusively for their startups, and their spouses can also apply for work authorization,…

Applications are now open for the prestigious Halton Foundation Grant 2024. The Halton Foundation is dedicated to funding non-profit organisations that focus on research and initiatives aimed at improving human wellbeing in indoor environments.Application Deadline: September 1, 2024 Areas of Impact The Halton Foundation has a track record of supporting a diverse range of projects. Previous grants have been awarded for: Types of Grants Available The Halton Foundation offers several types of grants tailored to different project needs: Grant Amounts The funding provided by the Halton Foundation varies based on the project’s scope and nature. Grants can range from a…

Ankush Sachdeva, an alumnus of IIT Kanpur renowned for its visionary graduates, embarked on an entrepreneurial journey driven by resilience and determination. Despite facing initial setbacks, Sachdeva’s relentless pursuit led him to establish ShareChat, a groundbreaking social networking platform catering primarily to Indian audiences. Early Struggles and Entrepreneurial Spirit Following his graduation from IIT Kanpur with a degree in Computer Science, Sachdeva ventured into entrepreneurship. His early attempts at starting companies met with failure, but his unwavering belief in his vision fueled his perseverance. The Path to Success with ShareChat After multiple unsuccessful ventures, Sachdeva co-founded ShareChat in collaboration with…

India is home to numerous billionaires, many of whom have transformed startups into major brands. One standout figure in this landscape is Deepinder Goyal, co-founder and CEO of Zomato, a leading food delivery service. Recently, Goyal joined the elite billionaire club as Zomato’s market capitalization surpassed the USD 2 trillion mark. Rising Wealth and Market Milestones As of July 15, Deepinder Goyal’s net worth stands at approximately USD 1.4 billion, or Rs 11,700 crore, reflecting a growth of about USD 33 million this year. He holds a 4.24% stake in Zomato, owning 36.95 crore shares. On July 15, Zomato’s shares…

Former Indian cricket captain MS Dhoni has made a significant investment in the ride-hailing startup BluSmart, contributing to a ₹200 crore funding round. Established in 2019, BluSmart distinguishes itself by exclusively operating electric vehicles, positioning itself as a sustainable alternative to mainstream platforms like Ola and Uber. This marks Dhoni’s third investment in the automobile sector. Overview of BluSmart BluSmart is a ride-hailing service that focuses solely on electric vehicles. With a valuation of $250 million (approximately ₹2,089 crore), the startup aims to reshape urban transportation in India. Dhoni’s investment reflects his commitment to supporting sustainable business models within the automotive industry. Dhoni’s Broader Investment Portfolio Apart from BluSmart, Dhoni…

Gold prices remained steady in Dubai at the start of the week after a strong performance in the previous week. In the UAE, the price for 24K gold was trading at Dh292 per gram, while 22K, 21K, and 18K gold were priced at Dh270.5, Dh261.75, and Dh224.25 per gram, respectively. Global Market Trends On the global front, gold saw a slight increase of 0.10%, reaching $2,411.02 per ounce. This rise follows a rally of over 2% last week, driven by soft inflation data from the US, which boosted expectations for a potential interest rate cut in September, along with dovish…