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Hyderabad: Different players in the startup ecosystem see the current challenging situation as a passing phase and believe that there is lot of correction happening, which would result in the best companies staying afloat. Sanjay Enisetty, founder of early-stage venture fund firm 50K Ventures, calls it interesting time for startups. “It’s interesting time, not a […]
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New Delhi: Prime Minister Narendra Modi on Sunday said that even in this phase of the global pandemic, Indian ‘startups’ have been creating wealth and value. In monthly radio address ‘Mann Ki Baat’, Prime Minister Modi said, “On the 5th of this month, the number of unicorns in the country has reached the figure of […]
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Mumbai: Snapping 10 consecutive weeks of decline, India’s foreign exchange (forex) reserves rose by USD 4.23 billion to USD 597.509 billion for the week ended May 20, the Reserve Bank of India (RBI) data showed. This is the first increase in India’s forex reserves in the past 11 weeks. The forex reserves had declined by […]
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New Delhi: Breaking his silence on India plans, Elon Musk has said that Tesla will not manufacture cars in India unless it is allowed to sell and provide service to its electric vehicles. On Starlink, he said that SpaceX is still waiting for the Indian government’s approval. “Tesla will not put a manufacturing plant in […]
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New Delhi: The Reserve Bank of India (RBI) on Friday said that it is proposing to adopt a graded approach to the introduction of Central Bank Digital Currency (CBDC) in conformity with the objectives of monetary policy, financial stability and efficient operations of currency and payment systems. “The Reserve Bank proposes to adopt a graded […]
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New Delhi: Domestic equity benchmark indices extended their gains from the previous session and traded in the green during trade on Friday amid firm global cues. Indian markets opened higher in line with Asian markets and sharply positive overnight US markets. At 9.58 a.m., Sensex was at 54,615.81 points, up 363.28 or 0.67 per cent, […]
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Mumbai: The rupee appreciated 2 paise to 77.59 against the US dollar in the opening trade on Friday, supported by heavy buying in domestic equities and a weak greenback in the overseas markets. However, rising global crude prices and persistent foreign fund outflows capped the rupee’s gain, forex traders said. At the interbank foreign exchange, […]
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Hyderabad: GMM Pfaudler, which manufactures glass lined reactors, tanks and columns for pharmaceutical and chemical companies, announced expansion of its facility in Hyderabad. The company will invest an additional $3.7 million (about Rs 28 crore) to increase the capacity. GMM Pfaudler had earlier invested $6.3 million (about Rs 48.5 crore) in acquisition of the glass […]
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London: Consumer tech brand Nothing is likely planning to launch its first smartphone, Nothing Phone (1), with a transparent design on July 21. The brand is targeting a price range of around 500 euros ($534), GizmoChina reported on Wednesday citing a German publication. The pricing suggests that the upcoming smartphone may not be a flagship device. […]
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Chennai: Some bad news for the vehicle owners already affected by the accelerating fuel price increase. From June 1, 2022 onwards, the motor third party liability insurance premium has been jacked up by the central government despite the portfolio being hugely profitable for the insurers. The central government has also withdrawn the 15 per cent […]
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Mumbai: Equity benchmark indices opened in the green on Thursday with Sensex up by 196.28 points and Nifty by 45.50 points. At 9:38 AM, the BSE Sensex was up by 196.28 points or 0.37 per cent at 53,945.54. BSE Limited, also known as the Bombay Stock Exchange, is the oldest stock exchange in Asia, and […]
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Mumbai: The rupee appreciated 3 paise to 77.52 against the US dollar in the opening trade on Thursday as a positive trend in domestic equities and weak American currency overseas supported the local unit. However, rising crude oil prices in the international markets and continued foreign fund outflows kept the pressure on the domestic currency, […]
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Hyderabad: Switzerland headquartered Ferring Pharma has announced the establishment of another formulation unit in India at Hyderabad for manufacturing of its product called Pentasa (Mesalazine). Ferring will invest approximately € 60 million (about Rs 500 crore) over the next 2-3 years for establishing this manufacturing facility. Pentasa is a Ferring product used for the treatment […]
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Hyderabad: Schneider Electric has decided to expand its unit and set up a second state-of-the-art manufacturing unit in Hyderabad. The first facility of Schneier Electric was also adjudged the “Advanced Light house” by implementing 4 IR technologies such as IIOT infrastructure , predictive / prescriptive analytics and AI deep learning by World Economic Forum this […]
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Hyderabad: Hyderabad-based electric ride-sharing platform Hala has announced on Wednesday that it has raised $1 million led by Magnifiq Securities. The startup is a 100 per cent electric ride-sharing platform solving last-mile connectivity problems and the fresh funds will be used to significantly increase the number of electric vehicles, improve infrastructure for swapping, and research […]
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Mumbai: The Axis Mutual Fund had a combined corpus of Rs 2.59 lakh crore as of end of March 2022 and was the seventh largest mutual fund in terms of AUM (assets under management) in the company. As recently as November 21, 2021 the fund had reassigned various schemes to different fund managers. Some of […]
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San Francisco: A US judge has denied Tesla’s motion for arbitration in a sexual harassment case, directing that the lawsuit accusing Elon Musk-run electric car company fostering a workplace with “rampant” sexual harassment will continue. Tesla now must defend itself in court against claims that female employees face “rampant sexual harassment” at its Fremont, California-based […]
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Hyderabad: Tackling the many issues drivers and riders are facing, Uber came up with a set of changes in their policy to improve user experience in the country. In a blog post, Uber said that drivers have shared concerns about earnings in the wake of higher fuel prices, long-distance pick-ups, and payment schedules. Likewise, riders […]
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San Francisco: Tesla CEO Elon Musk on Wednesday slammed billionaire philanthropist Bill Gates after a report claimed that the Microsoft co-founder poured millions into attacking Musk’s $44 billion acquisition of Twitter. Far-right publication Breitbart News claimed that hundreds of millions of dollars flew from Gates’ foundation to 11 of the 26 organisations that “signed an open […]
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San Francisco: Tech giant Apple’s upcoming AirPods Pro are likely to enter mass production during the second half of the year. In a new thread on Twitter, Apple analyst Ming-Chi Kuo explained that he expects AirPods Pro 2 mass production will begin during the second half of this year. He also noted that AirPods Pro […]
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New Delhi: The Centre has placed a cap on the export of sugar under the “restricted” category which will be effective from June 1. The latest move comes days after banning the export of wheat in order to control rising inflation and to ensure availability in the domestic market. India’s retail inflation has been above […]
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Mumbai: Equity benchmark indices bounced back on Wednesday after declining for two days, with the Sensex climbing 327 points in early trade, helped by buying in index major Reliance Industries and positive trends in the Asian markets. The 30-share BSE Sensex jumped 326.98 points to 54,379.59 points in early deals. The broader NSE Nifty gained […]
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Amarvati: The Andhra Pradesh government has signed an MoU with Adani Green Energy for establishing two mega green energy projects in the state. A memorandum of understanding (MoU) was reached to this effect on the second day of the World Economic Forum Summit in Davos on Monday. The Adani group plans to invest around Rs.60,000 […]
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Hyderabad: An aerospace manufacturing company SKM Technologies is being helmed by a 43-year-old US returned woman entrepreneur Sarita Rathibandla. The MD of the company left her well-settled life in the United States to fulfill her passion of entrepreneurship. She came to India in 2019 with the support of her husband and two daughters – who […]
