Author: News Desk

In a groundbreaking move, Microsoft is set to become the go-to provider of cloud productivity tools for e-commerce giant Amazon.com, in a massive deal worth more than $1 billion. This development, first reported by Insider, is expected to have far-reaching implications for both tech giants. Amazon’s Long-Term Commitment According to an internal document and an insider source cited by Insider, Amazon has pledged to invest this staggering amount over a span of five years. In return, Amazon will secure access to more than one million Microsoft 365 licences. This commitment signals Amazon’s intent to rely heavily on Microsoft’s cloud productivity…

In a move to spread festive cheer ahead of Diwali, the Narendra Modi-led government has given its approval for bonuses to Group C and non-gazetted Group B rank officials, which also includes paramilitary forces. The Ministry of Finance has specified the maximum limit for computing non-productivity linked bonuses (ad hoc bonuses) for central government employees at ₹7,000 for the fiscal year 2022-23. Bonus Details According to an office memorandum from the Department of Expenditure under the Ministry of Finance, a non-productivity linked bonus (ad hoc bonus) equivalent to 30 days’ emoluments for the accounting year 2022-23 has been granted to…

The Indian Railway Catering and Tourism Corporation (IRCTC) has announced the partnership with online food delivery platform Zomato for the delivery of pre-ordered meals. This collaboration is expected to offer a broader array of food options for rail travellers through its E-Catering segment. According to an official statement, the passengers will be able to avail Zomato’s service in only five railway stations as of now. The stations include New Delhi, Prayagraj, Kanpur, Lucknow, and Varanasi. Under this PoC, passengers can conveniently order and receive pre-ordered meals via the IRCTC E-Catering portal with the assistance of Zomato. “This is to inform that in view of widening…

Sri Lanka has recently gone through a major economic crisis leading to significant food insecurity and poverty. On the backdrop of this scenario, it is a relief that MA’s Tropical Food Processing (Private) Limited (MA’s Foods), a family meal solutions partner in the conventional, organic, and fair trade prepared food processing sector, has received a $5 Million debt commitment from U.S. International Development Finance Corporation (DFC). Intellecap was the exclusive and sole advisor to MA’s Foods for this transaction. MA’s Foods has also invested in northern Sri Lanka after the 30-year conflict, in supporting the country’s peace and reconciliation effort. According to…

SIDBI and Global Alliance for Mass Entrepreneurship (GAME) have on-boarded the first cohort for the NBFC Growth Accelerator Program (NGAP). This program is designed to scale small NBFCs through design interventions, enabling them to apply for institutional funding based on holistic evaluation parameters. The five-month intense program includes mentorship from domain experts on Risk, Operations, Governance, and Technology. It is structured to encourage and facilitate peer learning, reviews and networking through a blend of in-person, virtual and individualized sessions. Ravi Venkatesan, Founder, Global Alliance for Mass Entrepreneurship, explained, “Our objective was to design a replicable model to enable MSME-focused NBFCs to…

BIVA Analytics, a plug and play analytics platform, offering e- commerce businesses a unified analytics perspective across multiple platforms, today announced the completion of its Seed funding round, raising $500K. This round was led by Equanimity Ventures, with participation from T-Hub, SucSeed Ventures, WarmUp Ventures and value-additive angels. As per the company, the investment underscores the confidence in BIVA Analytics’ innovative approach to e-commerce analytics and its potential to revolutionize the industry. “Our investment in BIVA Analytics reaffirms our unwavering commitment to fostering innovation within the startup ecosystem. BIVA Analytics epitomizes the pioneering spirit we wholeheartedly champion. This investment perfectly…

LinkedIn, the social networking giant, has been making waves in the tech industry with its introduction of cutting-edge AI tools. These tools are aimed at enhancing user experiences and solidifying LinkedIn’s position as a top professional network. However, LinkedIn’s latest announcement takes a different turn, with the company revealing plans to lay off 668 employees. A Different Turn of Events Earlier this month, LinkedIn unveiled an array of new AI-powered tools that were set to redefine the way businesses utilise the platform. This development was seen as a testament to LinkedIn’s commitment to innovation and staying at the forefront of…

The Indian government has provided a welcome reprieve for stalled highway projects grappling with delays due to the unavailability of fly ash, a crucial construction material. In a proactive move, the government has mandated all thermal power plants located within 300 kilometres of these highway projects to offer fly ash, an essential input, free of charge and with immediate effect. Failed Environmental Mandate Numerous highway projects spanning thousands of kilometres across the nation have experienced delays due to the inability to access fly ash, as an environmental ministry directive intended to employ fly ash in highway projects situated near coal-based…

Following Blackstone, Gautam Adani, Kalanithi Maran, and the Ambanis, a fresh contender has emerged as a potential buyer for Disney’s India business. Sony Pictures Entertainment (SPE), the global entertainment unit of Japan’s Sony Group, has initiated preliminary talks with Walt Disney Co. about a potential acquisition of its India business. As per available reports, the company is looking at it as a contingency plan in case its ongoing merger agreement with Zee faces more delays or doesn’t materialise since it has been in the works for almost two years. The Zee-Sony merger had received National Company Law Tribunal (NCLT) approval without…

The Chief Executive Officer of Google and Alphabet, Sundar Pichai, has thanked Prime Minister Narendra Modi for a “terrific” meeting to discuss Google’s ongoing commitment to India. Taking to social media platform X, Mr Pichai wrote, “Thank you, Prime Minister Narendra Modi, for the terrific meeting today to discuss Google’s ongoing commitment to India, and how we are expanding our operations, leveraging AI, and increasing our partnerships.” PM Modi and Pichai held a virtual meeting on Monday. According to ANI’s report, PM Modi and Mr Pichai discussed Google’s plan to participate in expanding the electronics manufacturing ecosystem in India. The Prime Minister appreciated Google’s partnership with HP to…