Author: News Desk

Altigreen is a Reliance-backed electric commercial vehicle maker.It recently inaugurated its EV service centre at Wagholi, Pune. In association with last-mile delivery service provider Vidyut Parivahan. The company also opened its sales, marketing and R&D office in Pune. Altigreen had recently raised Rs 300 crore in a funding. Since then, it has been in expansion mode.

Malayalee students win $ 4,500 in TiE Young Entrepreneurs’ Global Pitch Competition. The award was won by the SITLIGN team , they presented anArtificial Intelligence Solution for backpains. The young students who competed on behalf of TiE Kerala won the award by competing with 20 teams from all over the world. Anaswara Ramesh, Dakshina Charu Chithra, Aaditya Dinesh and Manoj Krishna K from Bhavans Adarsh School, Kochi, Kakkanad bagged the prize. They also won Best Execution and Best Customer Validation recognition in the competition. Those who wish to pursue entrepreneurship will have access to investors. SITLIGN was qualified for the…

Chinese state-run newspaper Economic Daily has warned investors that the price of leading cryptocurrency Bitcoin is “heading to zero”. The warning came as the cryptocurrency market continued to face meltdown with Bitcoin hovering around $21,000 per digital coin. It is a substantial drop from its record high of $68,000 in November last year. The Chinese government banned Bitcoin mining in July last year. It has plans to launch its central bank digital currency (CBDC) called the digital Chinese yuan (e-CNY).

Foxconn held a meeting with the ministerial delegation from Maharashtra. They discussed the advanced investment plans in the semiconductor and consumer electronic segment. According to the government of Maharashtra, the state secured more than ₹6 lakh crore worth of investments. It has also allocated industrial land, infrastructure, and facilities to more than 80% of these investors in record time. Foxconn will be joining a league of global OEMs and world class suppliers. It will partner with the state to build the world’s electronics and supply chain backbone.

Mukesh Ambani resigned as the director of Reliance Jio effective June 27, and appointed Akash Ambani as the chairman of the board. Akash Ambani is the eldest son of Mukesh Ambani and Nita Ambani. He graduated from Brown University with a major in Economics in 2014. Akash Ambani has been working with the telecom unit of Reliance Industries since its launch in late 2016. He started as a Director of Reliance Jio .Akash has been closely involved with the creation of the digital ecosystem around Jio’s 4G proposition. Akash had personally led the key acquisitions made by Jio in the…

Intel is expanding its design and engineering footprint in India. Intel India unveiled a centre with 453,000 square feet spread over two towers. It can accommodate 2,000 employees. It will help advance cutting-edge design and engineering work in clients, data centres, graphics, artificial intelligence, automotive segments and IoT. One floor of 70,000 square feet is dedicated to high-tech R&D labs for silicon design and validation purposes. The facility sports a host of employee amenities such as over 50 video-enabled conference rooms, phone booths, collaboration spaces, breakout zones, and lounge areas.

Prime Minister Narendra Modi has returned from a visit to Germany and the United Arab Emirates.UAE President Sheikh Mohammed bin Zayed Al Nahyan bids farewell to Narendra Modi at the airport.During his visit to the UAE, the Prime Minister expressed his condolences on the death of former President Sheikh Khalifa bin Zayed Al Nahyan. The Prime Minister tweeted that he was a great statesman and a visionary leader who contributed to the development of India-UAE relations.This was Narendra Modi’s first meeting with the new UAE President Sheikh Mohammed bin Zayed Al Nahyan.The foreign ministry said there were no other public…

Food delivery platform Zomato to acquire Blinkit. Blinkit is an instant grocery startup. The all-stock deal is for Rs 4,447 crore. A move by Zomato to exploit the quick grocery delivery market. Zomato will issue up to 629 million shares. This will be on a fully-diluted basis Each share will be priced at Rs 70.76. The shares are subject to a 12-month lock-in. Zomato also acquired HOTPL for $8 million. HOTPL is Blinkit’s warehousing and ancillary services business.

Indian economy may touch $30 Tn in 30 years. Said Commerce and Industry Minister Piyush Goyal. It’s possible if India grows by 8% every year on CAGR. India is a fast-growing economy, he said. It is growing at a healthy pace even in challenging times. It has managed to maintain inflation at a reasonable level.

Adani to venture into the copper manufacturing business Raised Rs 6,071 cr loan from SBI and other PSU banks. The one-million-ton per annum copper plan will be in Gujarat. The plant will be established in two phases. It will be one of the world’s largest copper refinery complexes Production will begin in two years. The plant will be set up by Kutch Copper Ltd (KCL). KCL is a subsidiary of Adani Enterprises. KCL’s rivals are Hindalco and Hindustan Copper.