Author: News Desk
Christopher W. Hodges assumed office as the United States Consul General in Chennai on July 1. With a strong focus on enhancing the bilateral relationship between the US and India, Hodges aims to foster trade, education, and space cooperation between the two nations. His previous experience in various diplomatic roles underscores his dedication to promoting civil society and consular services that connect the people of both countries. 1. Emphasising Growth in US-India Relationship: As the new Consul General, Christopher Hodges expressed his honour in representing the United States in South India during a pivotal period of growth in the US-India…
The India Startup Foundation is all set to host the India Startup Festival (ISF) in Bengaluru, emphasising innovation that addresses grassroots-level challenges. With a focus on fintech, rural innovation, agritech, foodtech, and rural healthcare, the three-day event aims to bring together over 10,000 startups from India, Japan, and the UK, alongside more than 500 investors. 1. Empowering Startups with a Purpose ISF 2023 aims to create a platform that fosters “Innovation at the Bottom of the Pyramid,” encouraging startups to tackle real-world problems and promote inclusive growth. The festival’s focus on fintech, rural innovation, agritech, foodtech, and rural healthcare aligns…
The films “Barbie” and “Oppenheimer” have sent shockwaves through the domestic box office, defying conventional expectations and invigorating the summer movie season. Both movies experienced remarkably small second-week ticket sales drops, indicating potential longevity at the box office. The success of these films has injected much-needed optimism into a summer marketplace grappling with box office challenges. 1. Exceptional Second-Week Performance “Barbie” and “Oppenheimer” witnessed an astounding 43% drop in ticket sales during their second week, significantly bucking the trend of blockbuster features experiencing declines between 50% and 70% after their debut weekends. The smaller drop is seen as a positive…
Chief Minister Shri Pinarayi Vijayan has taken a significant step towards bolstering Kerala’s startup ecosystem by launching the ‘LEAP Coworks’ membership card and unveiling the refurbished headquarters of Kerala Startup Mission (KSUM) in Thejaswini Building, Technopark Phase 1, Thiruvananthapuram. LEAP Coworks – Propelling Innovation and Collaboration in Startups LEAP Coworks, an acronym for Launch, Empower, Accelerate, Prosper, is an innovative initiative aimed at transforming industry incubators across Kerala into co-working spaces. This transformation is geared towards fostering innovation, enhancing collaboration, and providing essential support for a thriving startup ecosystem. KSUM is committed to converting its incubation centres, partner incubation centres,…
The prolonged funding winter has taken a toll on Indian startups, leaving thousands of employees jobless. In the first half of 2023, around 70 startups were forced to downsize, resulting in over 17,000 layoffs. The funding crunch has emerged as the biggest challenge for these companies, as they grapple with reduced investor funding and seek to conserve cash. 1. Funding Crunch Hits Startups Across Various Sectors Startups, heavily reliant on external investments for growth, found themselves downsizing due to a significant decline in investor funding. The scarcity of new investments flowing into the industry has created a funding crunch, with…
The Indian Space Research Organisation (ISRO) achieved a significant milestone as the Chandrayaan-3 spacecraft was successfully injected into the translunar orbit on Tuesday. With only 22 days left, India is inching closer to its next lunar mission, aiming to perform a soft landing on the lunar surface. Translunar Orbit Injection (TLI) Success: The ISRO confirmed the successful insertion of the Chandrayaan-3 spacecraft into the translunar orbit after completing its orbits around the Earth. The spacecraft is now en route to the Moon, and the Lunar-Orbit Insertion (LOI) is scheduled for August 5, 2023. Mission Progress and Objectives: The spacecraft’s journey…
In August 2023, banks in India will be closed for approximately 15 days due to various holidays. These holidays fall under three categories: Holidays under the Negotiable Instruments Act and Real-Time Gross Settlement Holidays, and Banks’ Closing of Accounts. The eight bank holidays observed across selected states in August 2023 Apart from these specific holidays, banks will also remain closed on Saturdays and Sundays as per the regular weekend schedule. The Reserve Bank of India (RBI) follows the second and fourth Saturday off system. It’s worth noting that there have been discussions about implementing a 5-day working scheme in banks,…
In a decisive move, the Indian Government has quashed any hopes of reconsidering the proposed 28% Goods and Services Tax (GST) on online gaming and casinos. Government sources assert that taxing the gross value remains the most prudent approach due to the complexities associated with other methods, especially when dealing with businesses lacking transparency. This decision, which has been met with resistance from the gaming industry, is set to be reaffirmed at the upcoming meeting of the GST Council. Unanimous Support for the 28% GST Rate The Gaming Industry has been fervently seeking a review of the recent GST Council’s…
Step into the extravagant world of Jalsa, the iconic Mumbai residence of Bollywood legend Amitabh Bachchan and his family. This opulent mansion, valued at a staggering Rs 100 to 120 crore, exudes luxury and sophistication, reflecting the grandeur associated with the Bachchan name. Let’s take a closer look inside Jalsa and explore its regal interiors and captivating stories. A Bollywood Legend’s Royal Residence Jalsa, meaning “celebration,” is not just a home; it’s a symbol of Amitabh Bachchan’s cinematic journey and immense contribution to Indian cinema. With an illustrious career spanning over five decades and over 195 films to his credit,…
The stationery industry in India is witnessing an unprecedented surge in growth, especially after the challenges posed by the COVID-19 pandemic. As evidence of this boom, DOMS Industries, the country’s second-largest pencil maker, is gearing up for a ₹1,200 crore initial public offering (IPO). This strategic move comes as DOMS aims to expand its market presence and establish a significant manufacturing facility in the Asia Pacific region. The Upcoming IPO: DOMS Industries Ambitious Step DOMS Industries, backed by Italy’s F.I.L.A. Group, will be filing draft papers with the Securities and Exchange Board of India (SEBI) in the second week of…