Author: News Desk
The Indian startup ecosystem is facing massive shifts in hiring patterns. Startups are doing steep hiring cuts, says the report by RazorpayX Payroll. The hiring of permanent employees reduced by 61 per cent in the last 12 months. However, salary spent on existing full-time workers rose by 64.7 per cent. Still, there is no equal distribution of money. The Indian startup ecosystem has been facing a shortage of funding. This has resulted in massive hiring cuts. Startups now prefer leaner and stronger teams and gig workers. Payments for gig workers have increased 153 per cent since October 2021 .
Cricketer Hardik Pandya joins hands with Reliance Retail. He is the brand ambassador of the athleisure brand Xlerate. Xlerate is hosted on Reliance Retail’s AJIO Business. It offers youth world-class sportswear at affordable prices. Its offerings start from Rs 699 Products include sports shoes, track pants, t-shirts etc… Any retailer can register on AJIO Business. AJIO Business has a portfolio of 5000 plus fashion and lifestyle brands.
To digitise the Micro, Small, and Medium Enterprises (MSMEs), the Telangana Government has partnered with local search engine provider JustDial. Through this partnership, MSMEs will be able to realise their marketing potential, adapt to digital business practices, and effectively engage with customers. The two organisations will target MSMEs in a number of cities, including Suryapet, Adilabad, Nizamabad, and others. Additionally, JustDial wants to give MSMEs access to its services like JD Mart, JD Xperts, and JD Pay so they may benefit from a variety of services like an online B2B platform, on-demand home services, and an online payment system for…
Lately, especially after the COVID-19 outbreak, India witnessed a surge in the digital marketplace. Several factors such as quick delivery, special offers, availability of smartphones, better internet connectivity, and targeted advertisements have enhanced the growth of embedded finance in India. A recent report says that India is ahead in exploring Metaverse. A consumer report by global financial company FIS says that about 68 per cent of Indians are keen on shopping in Metaverse. Consumers prefer products and services such as virtual fashion clothing, event tickets to music concerts and sports matches, and gaming tokens. About 57 per cent wants to…
In order to increase food production and secure the country’s agricultural systems for the future, the UAE announced its determined efforts to construct the largest vertical farm in the world close to the Expo 2020 site. Additionally, it would support indoor, urban farming as the next significant development in the world’s food production cycles. The UAE has now become home to one of the biggest indoor vertical farms growing saffron in the Mena area, which represents another advancement. The deep yellow-orange spice, which is claimed to be the most costly spice in the world, isn’t the most obvious choice to…
According to the energy cargo tracker Vortexa, Russia has surpassed the historically dominating suppliers Saudi Arabia and Iraq to become India’s top oil supplier. The largest recorded monthly crude supply from Russia to India was 946,000 barrels per day in October. It supplied 22% of India’s total oil imports, surpassing Saudi Arabia’s 16% and Iraq’s 20.5%. According to Vortexa, an energy intelligence company with offices in Singapore and London that watches oil and gas tankers across the world and provides freight and inventories analytics, global crude imports increased by 5% in October compared to September, while those from Russia increased…
Mo and Michelle Mokone, two sisters from South Africa who founded the company, Mo’s Crib, creates high-quality home furnishings and décor by reducing waste and reusing and recycling materials. Their best-selling line is repurposed with a purpose. The Mo’s Crib PVC Collection features fashionable baskets and planters fashioned from recycled PVC water pipes that were meticulously hand-selected and gathered from African landfills and building sites where they would have otherwise added to the world’s rising PVC plastic pollution problem. Mo’s artisans transform recycled PVC into thin strips that are neatly woven over the course of 4–7+ hours to produce extremely…
The country’s largest maker of passenger cars, Maruti Suzuki, has issued a recall for the WagonR, Celerio, and Ignis. Due to a potential flaw in the rear brake assembly, these cars have been recalled. The company has recalled a total of 9,925 Wagon R, Celerio, and Ignis vehicles produced between August 3, 2022, and September 1, 2022. Maruti Suzuki said in a filing that it believes the rear brake assembly pin may be defective and, under some circumstances, may break and produce an odd noise. In the long run, there could be a potential effect on brake performance. The company…
Indian tech startups raised $15.7 billion in CY22, Revealed a report by the National Association of Software and Service Companies (NASSCOM). The volumes of deals grew by 78% YoY. The fintech sector grew the most in the Q3 of CY22 Enterprisetech, healthtech and edtech followed. On the investor front, Blume Ventures (15) cracked the maximum deals. Sequoia India (12) and Accel (11) came in the next two places. Now, India’s startup ecosystem is valued at about Rs 3 trillion. It includes more than 110 unicorns and 75 or so soonicorns.
Jack Dorsey, co-founder and former CEO of Twitter, announces a new social media platform. His firm Bluesky Social is accepting beta users. Interestingly, Dorsey announced it soon after Musk purchased Twitter. Bluesky Social is based on the blockchain. It has got 30,000 sign-ups within two days. Its USP is its technology called ‘AT Protocol’. It gives users control of their algorithms. Dorsey co-founded Twitter in 2006. He was its CEO before Parag Agarwal. He was against Twitter adopting an advertising model. He left Twitter to start a decentralised social media platform.