Author: News Desk

 ABFRL aims highAditya Birla Fashion and Retail Ltd (ABFRL) will buy a 51 per cent stake in fashion  brand House of Masaba for Rs 90 crore. The acquisition is subject to definitive agreements, completion of closing conditions and the time for completion of the deal is two to three months.“Through investment in brand ‘Masaba’, ABFRL will strengthen its play into fashion for young and digitally native consumers along with marking a foray into the branded beauty & personal care segment,” it said in a statement.  More products in offingBrand Masaba is targeted to achieve annual revenues of around Rs 500…

https://youtu.be/wV4xCjrVxXE ISRO Chairman S Somanath said the Indian space programme is currently confined to ISRO and the government now wants new people to come into this sector.Increase space budgetThe space budget should increase from Rs 15,000-16,000 crore to more than Rs 20,000-50,000 crore. This would not mean privatisation of ISRO, like BSNL and Air India. ISRO is core technology-oriented and it cannot be privatised as it researches and develops technology. Somanath will succeed K. Sivan, who completed his extended tenure on January 14.

https://youtu.be/HamxNpBniKM The union government now owns the majority stake in India’s third-largest telecom company, Vodafone Idea.Vodafone Idea accepts proposalThe company announced that it will accept the government’s proposal. The proposal will convert its spectrum and adjusted gross revenue dues to equity. The  implied cost of this conversion is Rs 10 a share, a 32% discount on January 10 closing price. The government will now have a 35.8% stake in the company, worth Rs 16,000 crore. The net present value of the interest owed by Vodafone Idea to the government is Rs 16,000 crore.Vodafone Idea had earlier opted for the four-year moratorium on…

Climate-friendlyThe Indian Army unveiled its new climate-friendly combat uniform on its Army Day Parade on January 15. The camouflage uniform will be based on the “Digital Disruptive” pattern and will be available in 13 sizes. The Indian Army had rejected comparisons between the new combat uniform and the LTTE uniform. It  says the two are ‘different’, with filters used in the new Army pattern to distort its appearance.Commenting on this, a retired army man Major Gaurav Arya (retd) tweeted, “Some people … uninformed or malicious people say they look like LTTE uniforms. Here’s how to make a new Army Combat…

https://youtu.be/RhyeBubKnS8 The Tata Group will replace Vivo as IPL title sponsor from the 2022 edition. The decision was taken during the IPL’s governing council meeting.Indo-China issues”Tata group is coming in as IPL title sponsor,” the cricket league’s chairman Brijesh Patel said. Vivo had a Rs 2,200 crore deal for IPL title sponsorship rights from 2018-2022. The Board of Control for Cricket in India and the chinese company Vivo had suspended their ties for IPL 2020 after Indo-China border issues. However, the brand was back as the title sponsor for IPL 2021.

https://youtu.be/Fv3KBBkxBOw Rolls-Royce recorded its highest-ever annual sales results in it’s 117-year history. The  company has managed to deliver 5,586 cars around the globe in 2021.Good  salesRolls-Royce has sold 49 percent more cars than in 2020 and 461 more than in 2019. In terms of India sales, Rolls-Royce sales remained stable throughout 2021. The luxury car maker sells the Wraith, Ghost, Phantom, Dawn and the Cullinan SUV in India. It said that its latest sedan Ghost has helped the company record these numbers. Rolls-Royce had also announced its first all-electric car, Spectre, in 2021.

https://youtu.be/p5dX507WZuk The Reserve Bank of India has opened a dedicated department for Fintech . It will help create regulations for cryptocurrency and its upcoming central bank digital currency. RBI’s smart moveIndia will reportedly make two CBDCs, one each for wholesale and retail.The new department will be tasked with managing their development. The RBI has been amongst the most vocal opposition for cryptocurrencies in India. The department will oversee new challenges coming from the fintech ecosystem, including cryptocurrency.

https://youtu.be/Y_il–Eh-jE Easing scrutinyIndia is considering easing scrutiny on foreign direct investments, especially from bordering nations. The current move is an aftermath of proposals worth $6 billion getting stuck amid the red tape. India had imposed curbs on foreign investments amid a bloody border standoff with China.Awaiting clearanceThe government became vigilant about investment proposals from companies that share a land border with India. However, those rules, which are mainly aimed at China, have posed a dilemma for inflows. The restrictions made the entire deal-making process complicated for investors. As of November 2021, over 100 proposals are awaiting clearance.

https://youtu.be/g08dwi-UTxs SHE POWER 2.0 provided an opportunity for entrepreneursThe second edition of She Power, provided an opportunity for women entrepreneurs to acquire digital skills and emerge as a platform to address their doubts and concerns. What all digital skills do entrepreneurs need? Is Kerala a place for women entrepreneurs? Whether the venture would be successful if women started it alone, were few of the discussed topics.Good participation for online-digital workshopThe second edition of She Power was held in Kochi, Kozhikode and Thiruvananthapuram in collaboration with the US State Department to impart Digital Skills to  Women Entrepreneurs, MSMEs, Startup Founders and Student…

https://youtu.be/ydjoZbBvlMk Union Commerce and Industry Minister Piyush Goyal said that the startup fraternity should nurture 75 more unicorns in 2022.Startups, a key factorIndian startups are rising at a rapid pace with more new-age businesses reaching the $1 billion valuation. India currently has around 82 unicorns. The Commerce Minister said that Indian startups have turned the covid-19 crisis into an opportunity. He also said that successful startups should reach out to entrepreneurs and startups in the smaller towns and villages. Startups should also aim at catering to new and unexplored sectors. Startups have been a key factor for India to rise in…