PhonePe raises $350 million at $12 billion valuation.
Walmart-owned Indian digital payments app PhonePe said on Thursday it has raised $350 million at a valuation of $12 billion in a funding round led by private-equity firm General Atlantic.Funding rounds backed by venture capital firms have slowed down, with Indian startups having raised a third lesser...
‘Please believe me… Cryptos are nothing but gambling’, RBI guv calls for outright ban.
Reserve Bank governor Shaktikanta Das on Friday reiterated his call for an outright ban on cryptocurrencies, saying these are “nothing but gambling” and their perceived “value is nothing but make-believe."To further its opposition to such currencies and also to take a lead over other central banks,...
Twitter hacked, 200 million user email addresses leaked: Report.
Hackers stole the email addresses of more than 200 million Twitter users and posted them on an online hacking forum, a security researcher said Wednesday.The breach “will unfortunately lead to a lot of hacking, targeted phishing and doxxing,” Alon Gal, co-founder of Israeli cybersecurity-monitoring...
Amazon to layoff over 18,000 employees amid ‘uncertain’ economy: CEO.
Amazon.com Inc. is laying off more than 18,000 employees — a significantly bigger number than previously planned — in the latest sign that a technology slump is deepening.Chief Executive Officer Andy Jassy announced the move in a memo to staff Wednesday, saying it followed the company’s annual...
Mukesh Ambani’s FMCG brand to take on Adani, Tata, ITC and Patanjali.
Billionaire Mukesh Ambani-led Reliance will rival FMCG food businesses of ITC, Tata Consumer Products Ltd and Adani Wilmar with launch of brand 'Independence' for staples, processed foods, beverages and other daily essentials, analysts said.Reliance Consumer Products Ltd (RCPL), the newly set up FMCG...
Prasanth Kumar, GroupM South Asia CEO, elected president of AAAI.
Prasanth Kumar, CEO, South Asia of GroupM Media (India) Pvt Ltd, has been elected as the president of the Advertising Agencies Association of India (AAAI) at its annual general body meeting.Rana Barua, group CEO of Havas Group India, was elected vice-president of the association. Anupriya Acharya, outgoing...
India’s economy will expand to $30 trillion by 2050, says Adani.
India is set to become a $30 trillion economy by 2050 -- a nearly 10-fold jump from its current size -- driven by rising consumption and social and economic reforms, according to Asia’s richest man Gautam Adani.The nation’s gross domestic product may start expanding by $1 trillion every 12 to 18 months...
Amid Twitter turmoil, Elon Musk is tackling $56 billion Tesla trial: Top points.
Amid speculation over Twitter's future following a mega takeover by Elon Musk, a United States court is due to decide if the $56 billion pay package of the world's richest person from Tesla is justified or not. The decision is set to be concluded after five days of testimony including three hours...
Meta appoints Sandhya Devanathan as India head.
Meta has announced the appointment of Sandhya Devanathan as the Vice President of Meta India.Devanathan will focus on bringing the organization's business and revenue priorities together to serve its partners and clients while continuing to support the long-term growth of Meta's business and commitment...
Saudi Aramco to build $7bn steam cracker in South Korea.
Saudi Aramco, the world’s largest crude exporter, will build a $7 billion refinery-integrated petrochemical steam cracker in South Korea through its S-Oil unit.The steam cracker, which will convert crude oil into petrochemical feedstock, is expected to produce up to 3.2 million tonnes of petrochemicals annually...