Author: News Desk

Adam Neumann, the former CEO of WeWork, is reportedly making moves to repurchase the flexible workspace provider, which filed for bankruptcy in November. Neumann, who shot to fame by transforming WeWork into a cultural and business phenomenon, was ousted from the company amidst controversy. However, in recent months, he has been actively working towards acquiring the now-bankrupt business. Sources familiar with the matter revealed that Neumann’s new real estate company, Flow Global, has been actively pursuing the acquisition of WeWork or its assets, in addition to providing bankruptcy financing to sustain its operations. Neumann’s efforts to repurchase the company have…

Singapore’s long-distance delivery platform Deliver.sg, the pioneering entity in the delivery industry and a subsidiary of Maxima Logistics Pte Ltd, is excited to announce the acquisition of Indian Mobility Lifestyle Platform BusyBee, solidifying its expansion in the Asian and Middle Eastern markets. The deal, valued at SGD 500,000, is a testament to Deliver.sg’s commitment to enhancing its comprehensive mobility services. BusyBee, known for its transformation from a courier service to a robust mobility lifestyle app, will complement Deliver.sg’s DAAS model. With a strong network of over 1800 delivery riders across 317 locations in South India, BusyBee is poised for significant…

In a startling move last week, the Reserve Bank of India (RBI) issued a directive ordering Paytm Payments Bank to cease accepting fresh deposits or top-ups in any customer account, wallets, or FASTags after February 29, citing concerns regarding non-compliance and regulatory issues. Despite efforts by the company to reassure users, including a statement from CEO Vijay Shekhar Sharma affirming that the Paytm app will remain functional beyond February 29, apprehensions among consumers have prompted a notable shift in app preferences. Increased Interest in Competitors A recent report by Moneycontrol has unveiled a remarkable uptick in downloads from the Google…

In a world increasingly prioritising sustainability, Banofi emerges as a trailblazer in fashion innovation. Banofi, committed to creating guilt-free alternatives to traditional leather, spearheads a mission to protect the planet while maintaining style and ethics. The inception of Banofi stems from the founder, Jinali Mody, quest for a sustainable leather bag. Coming from India, a significant leather exporter, Jinali recognized the environmental repercussions of conventional leather production. Dissatisfied with synthetic alternatives, which often rely on petrochemicals, Jinali, armed with experience from McKinsey & Co. and a Master’s Degree in Sustainability from the Yale School of Environment, embarked on a mission.…

In response to a 15 per cent surge in retail prices of rice over the past year, the government is set to introduce ‘Bharat rice’ at a subsidised rate of Rs 29 per kg, aimed at providing relief to consumers. The initiative comes as part of broader efforts to mitigate the impact of soaring food prices on the populace.The move is a proactive measure to address the steep rise in rice prices, offering consumers access to affordable staple food. Collaborative Efforts to Ensure Accessibility The Food Corporation of India (FCI) is set to supply 5 lakh tonnes of rice to…

Following the grand opening of the Ayodhya Ram Mandir in Uttar Pradesh, Prime Minister Narendra Modi is poised to inaugurate the BAPS Hindu Mandir in Abu Dhabi on February 14. The forthcoming event is part of a series of engagements, including the Indian community event, Ahlan Modi (Hello Modi), scheduled at the Sheikh Zayed Stadium in UAE on February 13. Official Statement on the Inauguration The BAPS Swaminarayan Sanstha released an official statement indicating that the Mandir’s construction is nearing completion. His Holiness Mahant Swami Maharaj, along with Prime Minister Narendra Modi, is scheduled to inaugurate the Mandir on February…

Investors are diverting billions of dollars away from China and redirecting their focus towards India, with major financial institutions like Goldman Sachs Group and Morgan Stanley endorsing India as the primary investment destination for the coming decade. Marshall Wace, a $62 billion hedge fund, has positioned India as its largest net long bet after the United States in its flagship hedge fund. Similarly, an arm of Zurich-based Vontobel Holding AG has made India its top emerging-market holding, while Janus Henderson Group Plc is considering acquisitions in the Indian fund market. Even traditionally conservative retail investors in Japan are increasingly favoring…

The Maharashtra cabinet, in a meeting chaired by Chief Minister Eknath Shinde, has approved a proposal concerning the Dharavi slum redevelopment project. This proposal entails acquiring 283.40 acres of salt pan lands in Mumbai from the Union government on a 99-year lease for rehabilitation purposes. The state housing department presented the proposal, which received approval during the cabinet meeting. Under this initiative, the salt pan lands will be utilized for the rehabilitation of certain Dharavi residents as part of the slum redevelopment project. The market value of these lands will be recuperated from the special purpose vehicle (SPV) responsible for…

As India’s population expands, the rising energy needs present a challenge for the power sector. With increasing demand, there is a shift towards adopting solar and other renewable energy sources. However, the main challenge remains inadequate resources compared to consumption levels. Many individuals find it financially burdensome to afford high monthly electricity bills. In response, the government proposes solar energy as a feasible alternative to conventional electrical power. Finance Minister Nirmala Sitharam announced a rooftop solar panel scheme for 1 crore houses up which will offer 300 units for free under Pradhan Mantri Suryodaya Yojana. This scheme will help users…

On February 4, the Confederation of All India Traders (CAIT) released a warning advising traders to transition away from using Paytm for business transactions due to recent restrictions imposed by the Reserve Bank of India (RBI) on Paytm’s wallet and banking operations. “The Reserve Bank of India has imposed certain restrictions, prompting CAIT to recommend that users take proactive measures to protect their funds and ensure uninterrupted financial transactions. Large number of small traders, vendors, hawkers and women are making payments through Paytm and as such RBI restrictions on Paytm could lead financial disruption to these people,” the Confederation of…