Author: News Desk
War keeps waiting With the Russia-Ukraine war roiling financial markets globally, the government may defer the mega IPO of LIC and wait for an opportune time to get the maximum value of its holding in the state-owned insurance behemoth, sources said. “It’s a full blown war now so we will have to assess the situation for going ahead with the LIC IPO,” a government source said. Finance Minister Nirmala Sitharaman too had indicated review of the IPO in view of the evolving geopolitical situation. “Ideally, I would like to go ahead with it because we had planned it for some…
https://youtu.be/a8E08G0YYwY Strengthen Angel investor network’Ignite 2022′ is an opportunity to connect Kerala startups with investors in Dubai. ‘Ignite 2022’, organized to inspire entrepreneurs in the Middle East to invest in technology ventures and startups, was marked by the participation of entrepreneurs and investors. Ignite aims to form the Angel Investors Network, which includes expatriate entrepreneurs who want to invest in startups. Malayalee entrepreneurs, businessmen and government representatives who have made their mark in various fields were part of the meet. Kerala Startup Mission will sign a Memorandum of Understanding (MoU) with Dubai Technology Entrepreneur Campus – Dtec to create new opportunities for startups in Dubai.Oppurtunities…
Accuse media Former Turkish Airlines chairman Ilker Ayci on Tuesday said he has declined the Tata Group’s offer to be the chief executive officer and managing director of Air India as “some sections of the Indian media” have attempted to “colour” his appointment in an undesirable manner. Ayci is considered to be close to Turkish President Recep Tayyip Erdogan, an ally of Pakistan. RSS-affiliate Swadeshi Jagran Manch had said that the government should not give clearance to the appointment of Ayci, the chief executive officer (CEO) and managing director (MD) of Air India, “keeping in view national security”. Tata Sons…
https://youtu.be/cchgbYa85J4 New SEBI chairperson Madhabi Puri Buch has been appointed the new chairperson of market regulator SEBI. She is the first woman chairperson of the Securities and Exchange Board of India. Buch is the former head of ICICI Securities, also has served in SEBI between 2017 and 2021 as a Whole Time Member. She will replace Ajay Tyagi as his term ends on February 28. The Finance Ministry had invited applications from eligible candidates in October 2021 for the post of SEBI Chairperson. The candidates are shortlisted by the Financial Sector Regulatory Appointments Search Committee headed by Cabinet Committee. Financial…
https://youtu.be/uQCdyKFthsg Reliance to rescueReliance Industries has stepped in to rescue Future Retail Limited . Reliance has taken over the operations of Future Retail’s stores, offering jobs to its employees. Future Retail is locked in a bitter legal wrangle with e-commerce major Amazon over the sale of its business to Reliance.Troubled Future groupFuture Group has been finding it difficult to finance its working capital needs. In a stock exchange filing on February 26, Future Retail said it plans to scale down its offline operations to reduce its losses. It plans to expand its online and home delivery business.Future group’s long stop date…
277 deals cracked by Indian startups Indian startups have raised $8 billion in the first two months of 2022, according to a media report. This means that nearly $1 billion was invested in the startup ecosystem on a weekly basis in January and February. The ecosystem had raised $42 billion across 1,579 deals all through 2021 and $11.5 billion across 924 deals in 2020, the Business Insider reported.Indian startups have already cracked 277 deals in the first two month of 2022. This includes Reliance-backed Dunzo, Nykaa’s rival Purple, Zomato’s rival Swiggy and others. The data has been based on Entrackr’s weekly…
https://youtu.be/aGF3xch2tcM Fresh fund for acqusitionsFintech company Perfios entered Unicorn Club raising $70 million in a Series C funding round. Investors include Pear Valley Investment and Bessemer Venture Partners. The fresh funds will go for the acquisition of other firms and capital expenditure requirements.Pear Valley Investment, an affiliate of Warburg Pincus, has been allotted 3,27,121 shares for an investment of Rs 412 crore. After this transaction, Warburg Pincus holds 41.69% of post preferential offer capital in the company.Perfios enables businesses to aggregate and analyse structured and unstructured data and help in decision-making. It has facilitated over 500 million transactions per month and…
https://youtu.be/XOtEvQJp3ZoNew flights?Boeing Co and Airbus SE held talks with Tata Group in recent weeks to discuss future plane orders for Air India, a media report said. Tata had regained ownership of Air India after nearly 70 years in a $2.4 billion equity-and-debt deal. Air India has lucrative landing slots.Uphill task to upgradeBut, it is an uphill task to upgrade its ageing fleet and turn around its financials and service levels. Air India has a mixed fleet of over 140 Airbus and Boeing planes. Industry executives estimate that it would cost Tata more than $1 billion to refurbish the ageing aircraft.…
https://youtu.be/bR0l3Eat00s Surge in oil price?The ongoing Russia-Ukraine conflict will push energy and edible oil prices higher in India. Edible oil is an essential ingredient in Indian kitchens. The war will also raise the natural gas rates and coal.These factors will cause inflation, which is already above the upper end of the RBI’s target. India imports nearly 80% of its oil needs. Fears of inflationThe country faces the risk of inflation hitting consumer demand as global crude prices rose above $100 a barrel to multi-year highs. Reserve Bank of India’s analysis shows that every $10 rise in crude prices adds about 0.5 per…
https://youtu.be/OBhPBILXu90 Smallest wearable air purifierNanoclean Global has launched the “world’s smallest” wearable air purifier Naso95. Nanoclean Global, an IIT Delhi start-up, claims it is as effective as an N95 face mask. Naso95 sticks to the user’s nasal orifice and prevents bacteria, viral infection and pollen and air pollution. It comes in four different sizes, gives better protection than a generic facemask or a loosely fitted face mask.According to Nanoclean Global, Naso95 is an N95-grade nasal filter. The product has been tested and certified by national and international labs for its safety and efficiency.