Business

Hyderabad: Hyderabad-based Recordent, a credit and payment reporting fintech platform in the non-banking sector, formed a strategic partnership with the Food Service Distributors Association (FSDA) to bring access to comprehensive credit & data reports to the FSDA members through its SaaS-based platform. FSDA India is a Trade Association of Distributors & Wholesalers supplying to the […]

Mumbai: Reserve Bank of India (RBI) on Wednesday said banks will be allowed to infuse capital in their overseas branches as well as repatriate profits without seeking its prior approval, subject to fulfilling of certain regulatory capital requirements. At present, banks incorporated in India can infuse capital in their overseas branches and subsidiaries, retain profits […]

Mumbai: The Reserve Bank of India (RBI) on Wednesday kept the benchmark interest rate unchanged at 4 per cent and decided to continue with its accommodative stance in the backdrop of concerns over the emergence of the new coronavirus variant Omicron. This is the ninth time in a row that the Monetary Policy Committee (MPC) […]

Washington: The company that runs the philanthropy of Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan, is investing up to $3.4 billion to advance human health over 10 to 15 years, according to a spokesperson for the organisation. The Chan Zuckerberg Initiative (CZI) announced Tuesday its new effort is aiming to “observe, measure, and […]

Hyderabad: ISB Institute of Data Science (IIDS) organised a day-long data science summit on artificial intelligence and data science applications on supply chain models with a special focus on retail analytics. The day-long hybrid event brought together 180 researchers, data scientists, and developers to discuss artificial intelligence, data science, applied machine learning, and predictive applications […]

Hyderabad: Hyderabad-based Tanla and Vodafone Idea Limited (Vi) announced a partnership wherein Tanla will be the exclusive provider of solutions to secure, encrypt and enhance performance for the entire international messaging traffic on the Vi network. This partnership centred on Wisely, a cloud-based platform co-developed with Microsoft, is set to lead the global enterprise market […]

Hyderabad: Hyderabad-based Brightcom Group, an adtech company, signed a definitive share purchase agreement to acquire 100 per cent of Vuchi Media Private Limited, operating under the brand name of MediaMint, a digital marketing operations company. The acquisition will be for about Rs 566 crore in cash and stock. As per the agreement, Rs 360 crore […]

Hyderabad: Hyderabad-based pharmacy retail chain MedPlus Health Services on Tuesday fixed a price band of Rs 780-796 a share for its Rs 1,398 crore initial share-sale, which will open for public subscription on December 13. The IPO will close on December 15. The bidding for anchor investors will open on December 10. The initial share-sale […]

Hyderabad: The annual residential property registrations in three (Hyderabad, Rangareddy and Sangareddy districts) of the four districts that constitute the Hyderabad residential market stood at 21,988 units during January to November 2021 period, representing a 16 per cent growth over the January-November period in 2020. The end of the year is a typically slow period […]

Hyderabad: Hyderabad’s aerospace and defence ecosystem received a fresh boost as the US-based Lockheed Martin formally recognises Tata Lockheed Martin Aerostructures Limited (TLMAL) as a potential future co-producer of fighter wings. TLMAL’s Hyderabad facility indigenously produced the first fighter wing shipset. KT Rama Rao, Minister for Industries and Commerce, Telangana, along with other government officials, […]

Hyderabad: Telangana-based startup ecosystem builder T-Hub has announced the seventh batch of its seed accelerator programme Lab32. It has on-boarded 23 startups for the new batch and the new programme guides entrepreneurs to refine their products for market fitness and create maximum economic and social impact. The three-month seed accelerator hybrid programme will commence on […]

New Delhi: Used car retailing platform Spinny on Tuesday announced the closure of a $283 million funding from new and existing investors, taking its valuation to $1.8 billion and becoming another unicorn in 2021. The company said the raised capital would be utilised to bolster the customer experience, strengthen technology and product capabilities and build […]

Mumbai: The rupee appreciated 15 paise to 75.30 against the US dollar in opening trade on Tuesday, as a rally in domestic equities and weak American currency in the overseas markets boosted investor sentiments. However, surging crude prices in the international market and unabated foreign capital outflows capped the rupee’s rise, traders said.At the interbank […]

Washington: Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), has urged for global cooperation to control the raging Covid-19 pandemic and support the economic recovery as the new Omicron variant has spread to over 40 countries around the world. “The global economy has continued to recover, but the recovery faces many risks, including […]

Hyderabad: Hyderabad-based Aparna Enterprises, a building materials company, invested Rs 100 crore into their tile division- Vitero Tiles. The investment is targeted at expanding their manufacturing capacity at Peddapuram facility in Andhra Pradesh. The company said, this expansion aims at helping Aparna Enterprises cater to the increasing demand of floor and wall tiles and target […]

Hyderabad: Hyderabad-based design-led Divami Design Labs, specialised in UX/UI design and design & development, is looking to expand its operations and offerings to cater to the growing demand from global markets. The company has sales offices in Mumbai, Bengaluru and Delhi as well as in the US. Besides the US, the company is seeing a […]

Hyderabad: Hyderabad-based GSS Infotech has acquired 100 per cent stake in ‘farm to store’ company Polimeraas for Rs 250 crore, in a stock and cash deal. The Board of GSS Infotech approved the acquisition. Hyderabad-headquartered Polimeraas operates 75 stores across Hyderabad and Bangalore with an average footfall of 21,000 per store per month. The company […]

Hyderabad: Hyderabad-based startup Oychef has secured Rs 2.5 crore seed funding from GrowthStories and others. The mobile app startup delivers private chef at home service with a fine dining restaurant and quality cuisine experience. The startup, which has onboarded 45 chefs has set an immediate target to add an additional 350 chefs and 1,000 freelancer […]

Hyderabad: Hyderabad-based Quixy, a cloud-based no-code process automation, and enterprise application development platform provider, has partnered with Zapier, a US-based platform that allows end users to integrate the web applications they use. The platform connects apps and moves information between them automatically. Zapier integration would allow Quixy users to instantly connect their enterprise apps built […]

Hyderabad: Liteauto GmbH, a German company that specialises in magnesium products for the transport segment, will invest over Rs 1,500 crore in Telangana to set up an advanced design and manufacturing facility. The new plant will provide direct employment to about 9,000 people and indirect employment to twice that number. The investments for the new […]

Mumbai: The rupee depreciated 10 paise to 75.22 against the US dollar in opening trade on Monday, tracking the subdued domestic equities and a firm American dollar amid growing concerns over the uncertainty triggered by the Omicron variant.Besides, persistent foreign capital outflows and rising crude prices also weighed on investor sentiments, traders said. At the […]

Mumbai: Equity benchmark Sensex tumbled over 300 points in early trade on Monday, tracking losses in index majors Infosys, HDFC Bank and ICICI Bank amid concerns over the spread of the Omicron variant in the country and weak cues from global markets.The 30-share index was trading 311.11 points or 0.54 per cent lower at 57,385.35 […]

New Delhi: Oil marketing companies (OMC) have kept diesel and petrol prices unchanged across major Indian cities on Monday. Accordingly, diesel and petrol prices in Delhi stood at Rs 86.67 per litre and Rs 95.41 per litre, respectively. In the financial capital Mumbai, the rates were also unchanged at Rs 94.14 and Rs 109.98, respectively. Prices […]

According to GizmoChina, Xiaomi 12 will not come with an under-display camera, instead, it will feature a punch-hole camera. Furthermore, it will be a center punch-hole screen, which is expected to bring improvements over its predecessors.