FM allocates ₹660 crore additional funds to MP for citizen-centric reforms.

The finance ministry on Sunday said it has allocated an additional ₹660 crore to Madhya Pradesh for capital expenditure to undertake citizen-centric reforms."A list of capital projects with an estimated cost of ₹660 crore was approved by the Department of Expenditure. Fifty per cent of the approved...

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Mukesh Ambani is world’s 11th richest billionaire. Check who else is on the list.

Reliance Industries Ltd chairman Mukesh Ambani has moved up two spots to become the 11th richest person in the world, according to Bloomberg Billionaires Index. With a total net worth of $79.2 billion (nearly ₹5.78 lakh crore), Ambani is the only Indian to feature in the top 36 richest billionaires...

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Intel tumbles after new CEO recommits to chip manufacturing.

Intel Corp. shares tumbled after the incoming chief executive officer pledged to regain the company’s lead in chip manufacturing, countering growing calls from some investors to shed that part of its business.“I am confident that the majority of our 2023 products will be manufactured internally,”...

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Elon Musk targets telecom for next disruption with Starlink internet.

Elon Musk became the world’s richest person this month by upending the global auto industry and disrupting aerospace heavyweights with reusable rockets. Now he’s setting his sights on another business dominated by entrenched incumbents: telecommunications.Musk’s Space Exploration Technologies Corp....

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UP govt gives ₹5 lakh marketing assistance to four startups under new policy.

In a boost to 'Start In UP' programme under the new UP Startup Policy-2020, the Policy Implementation Unit (PIU) approved marketing assistance to four startups on Thursday.Each of the four startups will get ₹5 lakh as marketing assistance over a period of one year to launch Minimum Viable Product...

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US stocks near records ahead of Biden inauguration.

US stocks are rising again Wednesday, climbing toward records on stronger-than-expected earnings reports and continued optimism that new leadership in Washington will help usher in an economic recovery.The S&P 500 was 0.7% higher at 3,824.26 in early trading, brushing up against its record of 3,824.68...

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Siddhartha Mohanty appointed as new LIC MD.

The government has appointed KIC Housing Finance chief executive officer (CEO) Siddhartha Mohanty as the managing director of Life Insurance Corp. (LIC) with effect from February 1.In a notification issued on Tuesday, the appointments committee of the cabinet (ACC) has approved the appointment of Mohanty...

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Google backs Indian courier startup Dunzo in $40 million fundraising.

Indian hyperlocal courier startup Dunzo has raised $40 million from existing investor Google and others, it said on Tuesday, after seeing a surge in usage during the COVID-19 pandemic.As many Indians stayed indoors for much of 2020 because of the health crisis, Dunzo and food-delivery apps Zomato...

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Adani Group signs concession agreements with AAI for developing 3 airports.

The Adani Group on Tuesday signed concession agreements with the Airports Authority of India for the management, operations and development of Guwahati, Jaipur and Thiruvananthapuram airports."The concessionaires are required to take up the Guwahati, Jaipur and Thiruvananthapuram airports fulfilling...

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Tata Capital PE fund raises ₹1,250 cr to invest in urbanization, manufacturing.

Mumbai, JTata Capital on Monday announced it has raised ₹1,250 crore for a private equity fund which will be investing in areas including urbanization and manufacturing.It announced the final closure of the ₹1,250 crore Tata Capital Growth Fund II, which is a successor to a similar fund.The fund...

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