Author: News Desk

Bengaluru-based fintech startup Open has achieved a significant milestone with the final approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator/Payment Gateway (PA/PG). This green light follows the in-principle nod granted by the RBI in 2022. Anish Achuthan, Co-founder and CEO of Open, expressed his enthusiasm about the approval, stating, “We are elated to receive the Payment Aggregator/Payment Gateway licence from the RBI.” This recognition not only validates the company’s commitment to regulatory standards but also marks a substantial step in strengthening its dedication to small and medium-sized enterprises (SMEs). Empowering SMEs in the Digital…

In response to recent media reports suggesting a potential $2 billion acquisition of Indian e-commerce shipping startup Shiprocket, Zomato has categorically denied the rumours. The food delivery platform took the unusual step of addressing the speculation in a filing with the Bombay Stock Exchange (BSE), citing the need to clarify given the substantial impact such news could have on the market. Setting the Record Straight Zomato, typically avoiding commentary on media speculations, emphasised that there are no plans for an acquisition at the moment. The company urged caution among investors against relying on inaccurate information, highlighting its unwavering focus on…

OpenAI, the leading artificial intelligence research laboratory, has introduced a new archiving feature for its premium generative AI-based offering, ChatGPT. This update allows users to archive their conversations, providing a solution to declutter the sidebar without permanently deleting any chats. While this feature is currently available on the web and iOS versions of ChatGPT, OpenAI has assured users that support for the Android version will be rolled out in the near future. A Closer Look at ChatGPT Archiving In a recent announcement, OpenAI shared details about the newly added archiving feature in ChatGPT. According to the company’s post on platform…

Bharat Petroleum Corporation Ltd (BPCL), India’s prominent oil and gas company, announced on Wednesday that it has secured approval for a polypropylene unit project at its Kochi refinery in Kerala. The company’s board of directors, in a meeting held on December 19, 2023, greenlit an investment of INR 5,044 crore for the establishment of a polypropylene production unit at the Kochi refinery. This initiative aims to address the growing petrochemical demand in the country. “We wish to inform you that the Board at its meeting held on 19th December 2023 has approved a proposal for setting up a Polypropylene (PP)…

Five Indian companies featured among the top 30 tyre manufacturers globally, according to a report by Automotive Tyre Manufacturers’ Association (ATMA). In the ‘Tire Business Magazine’s 38th Global Tire Report’ by ATMA based on revenue in 2022, Apollo, MRF, JK Tyre, CEAT, and Balkrishna Industries (BKT) from India featured in the top 30 list. As per the report, Apollo is at the 13th position and MRF at the 14th, JK Tyre at 19th, CEAT at 22nd and BKT at 27th in the top 30 list. Michelin, Bridgestone, Goodyear, and Continental continue to occupy the top four spots, the report said.…

ZEE Entertainment Enterprises Ltd is facing heightened attention as it navigates uncertainties related to the merger scheme with Culver Max Entertainment Private Limited (CMEPL) and Bangla Entertainment Private Limited (BEPL). The company has officially communicated that it is engaging in good faith negotiations to extend the merger scheme’s effective date by a reasonable period. Negotiations Under Merger Cooperation Agreement In response to communications from CMEPL and BEPL, ZEE Entertainment stated that discussions are underway, adhering to the Merger Cooperation Agreement (MCA) entered into by all parties involved. The objective is to explore the possibility of extending the deadline required to…

Delhi International Airport Limited (DIAL) is embarking on an amazing initiative to establish the nation’s inaugural multi-modal interstate transport hub adjacent to Aerocity, furthering the integration of bus, metro, and air services. Positioned in close proximity to the GMR Aerocity, this ambitious project is poised to enhance connectivity through a strategically designed Interstate Bus Terminus (ISBT), the forthcoming phase 4 line of the Delhi Metro Rail Corporation (DMRC), the proposed Passenger Transport Centre (PTC), and the planned Rapid Rail Transit System (RRTS) station, as articulated in a statement by DIAL. Recognizing the significance of Indira Gandhi International Airport as Delhi’s…

In the quest for a greener planet, segregating waste and recycling have become pivotal actions for environmentally conscious residents. However, the challenge lies in determining the right place for recyclables and understanding their ultimate destination. Addressing this concern, a UAE startup, Nadeera, has emerged as a trailblazer in waste management. Smart Solutions for Sustainable Living Nadeera, an Abu Dhabi-based tech company, has introduced a groundbreaking solution – smart bins equipped with communication capabilities and trash bags adorned with QR codes for efficient tracking. With a mission to divert waste from landfills, Nadeera has strategically placed over 50 of these smart…

With the goal of increasing pizza consumption and expanding the category’s share in terms of occasions, Jubilant FoodWorks is increasing its investments in the rebranding of Domino’s. The company has launched a 360-degree rebranding campaign with the goal of increasing brand awareness, particularly among Gen Z and younger millennials. With the launch of a makeover campaign for its flagship pizza chain brand, Domino’s, Jubilant Foodworks hopes to accelerate the company’s growth in the upcoming years. According to senior officials, the company, which owns the master franchise for the American pizza brand in India, plans to launch new locations, redesigned restaurants,…

SpiceJet has expressed interest in acquiring Go First to enhance its financial position. The financial maneuvers undertaken by SpiceJet, following its May transition, involve accumulating $270 million from various investment sources. In pursuit of stabilizing its financial status, the company’s board authorized the acquisition of new capital. SpiceJet plans to utilize the fresh funds to make Go First a part of its portfolio. Go First has faced challenges related to the Pratt & Whitney engines, prompting efforts to overcome issues related to engine performance. SpiceJet is actively engaged in addressing these concerns, aiming to transform Go First into a robust…