CARS24 raises $400 million in latest round of funding from financial institutions
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The company said it has closed $400 million round of funding including a $300 millon Series G equity round alongside $100 million debt from diversified financial institutions.
CAIT demands immediate action against Amazon, calls it âIPC 420 x2 culpritâ
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In a statement on December 19, CAIT referred to the recent order by the Competition Commission of India (CCI), which imposed an Rs 202 crore penalty on Amazon, adding this concludes that the company is âcontinuously indulging in deliberate attempt to dod
COVID-19 | Most of the worldâs vaccines likely wonât prevent infection from Omicron
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All vaccines still seem to provide a significant degree of protection against serious illness from Omicron, which is the most crucial goal. But only the Pfizer and Moderna shots, when reinforced by a booster, appear to have initial success at stopping infecti
Apple seeks dismissal of India apps market antitrust case, cites tiny market share
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The complainant in the case, a little-known non-profit group called «Together We Fight Society», said that Apple with iOS dominates the market for non-licensable mobile operating systems.
Bidding for Air India and expanding into Covid testing weighed against SpiceJet in the British court
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Big conglomerates routinely mount multi-jurisdiction proceedings. The SpiceJet-De Havilland case is a reminder why it is prudent to maintain a consistent stand in courts across continents.
Amazon partnered with China propaganda arm: Report
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An internal 2018 Amazon briefing document that describes the company#39;s China business lays out a number of «Core Issues» the Seattle-based giant has faced in the country.
UK regulator fines HSBC for money laundering failings
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The Financial Conduct Authority (FCA) fined the bank £63.95 million ($85 million, 75 million euros) after detecting serious weaknesses in three key areas of its monitoring systems.
India offers 8 oil, gas blocks for bidding in latest round
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Eight blocks have been offered in the seventh bid round of Open Acreage Licensing Policy (OALP), with bids due on February 15, 2022, the Directorate General of Hydrocarbons (DGH) said.
Hindalco inks pact to acquire Hydro#39;s aluminium extrusions business in India for Rs 247 crore
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The acquisition brings into the Hindalco fold, an integrated facility located at Kuppam in Andhra Pradesh, an experienced team of employees and the ability to serve a robust portfolio of reputed customers, the company said in a statement.
China to ban online brokers from offering offshore trading to mainland clients: Report
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The Nasdaq-listed Chinese firms are two of the biggest players in the sector and a ban would block millions of retail investors in mainland China from trading securities easily in markets such as the United States and Hong Kong.
Second generation Honda Amaze crosses 2 lakh cumulative retail sales mark
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The model is one of Hondaâs most successful models in India with cumulative deliveries of over 4.6 lakh units since the introduction of the first generation model in April 2013.
Tata Motors joins hands with Maharashtra govt to set up vehicle scrappage facility
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The auto major has inked a memorandum of understanding (MoU) with the state government to help set up the scrappage centre with a recycling capacity of up to 35,000 vehicles a year for end-of-life passenger and commercial vehicles.
Hyundai Motor appoints Unsoo Kim as Managing Director in India
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Unsoo Kim, currently with the parent company in South Korea, will replace Seon Seob Kim (SS Kim) who will lead a global role at Hyundai Motor Company headquarters in Seoul after his successful stint of three years in India, Hyundai Motor India Ltd (HMIL) sai
World coal power demand to hit new high after China, India, US surge: IEA
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The IEA said global power generation from coal was expected to reach 10,350 terawatt-hours in 2021, up 9 percent, driven by a rapid economic recovery that has «pushed up electricity demand much faster than low-carbon supplies can keep up.»
MC Interview | COVID-19 lockdown was blessing in disguise: CEO of FastBeetle, Kashmirâs first start-up to raise $100K
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The co-founder of a logistics startup in Jammu and Kashmir explains how the company overcame adversity caused by changes in the erstwhile state and the pandemic
The investigations include questioning the ARCs on allegedly passing on just 20 percent of the amount recovered from NPAs acquired from banks. The I-T Department had raided 60 premises linked to the four companies on December 8.
Kia plans to announce EV strategy for Indian market next year
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The company, which unveiled its all new model â Carens â for the Indian market, is considering all aspects related to the electric vehicle (EV) segment before coming out with a final blueprint.
CarTrade to deploy up to $100 million to acquire, invest in firms in automotive space
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It is eyeing companies offering differentiated services and technology in the automotive segment which will help the group digitise the buying and selling journey of vehicles, CarTrade said in a statement.
Jobless claims rose by 18,000 to a 206,000, still low by historical standards. The four-week average, which smooths out week-to-week volatility, fell by 16,000 to less than 204,000, the lowest level since mid-November 1969, according Department of Labor figur
Accenture revenue forecast tops estimates on cloud, security services demand
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Client spending, which rebounded last fiscal year to pre-pandemic levels due to a shift to hybrid working models and boosted Accenture#39;s revenue by 14 percent, has stayed strong.
Bank of England raises interest rates to combat inflation
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The decision confounded market expectations for no change and came one day after news that UK inflation rocketed in November to 5.1 percent, more than double the BoE#39;s 2.0-percent target.
This drive, which constitutes nearly 60 per cent of the companyâs total hiring, stems from Tideâs expansion strategy to boost its local presence in India, its first international market, the company said in a statement.
India#39;s April-October iron ore production at 143MT; set to surpass FY#39;20 record of 246MT
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The production of another key mineral, bauxite, has also witnessed a year-on-year increase in the April-October period of 2021-22, Alok Tandon said during the International Mining Summit with the theme #39;Towards a Responsible and Competitive Mining Industry
Byju#39;s in talks to go public via SPAC route: Report
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Byju#39;s has held talks with several potential SPAC partners and was working out an agreement with Michael Klein#39;s Churchill Capital, Bloomberg reported, adding that the startup would raise a total of about $4 billion and seek a valuation of about $48 bil
Puneet Dikshit, ex-McKinsey partner, pleads guilty to insider trading charge
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Puneet Dikshit, 40, pleaded guilty to one count of securities fraud. He was charged last month for allegedly generating about $450,000 said of profit from 2,500 GreenSky call options that he bought in the two days before the merger was announced on September
PE/VCs invest $6.8 billion in Indian companies in November: Report
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In November 2020, such high-risk investors had infused USD 3.9 billion, while in October, the total investments had stood at $13.1 billion, the monthly data shared by industry lobby IVCA and the consultancy EY said.
Jindal Stainless eyes Rs 500 crore revenue from chequered sheet business in 3 years
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The current size of the chequered sheet market in India is 2,00,000 tonnes annually and is growing at an annual rate of 8 per cent, the stainless steel player said in a statement on Thursday.
PhonePe becomes first to tokenise cards on Visa, Mastercard and Rupay
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PhonePe#39;s tokenisation solution #39;PhonePe Safecard#39;#39; to help businesses save significant time and effort by removing the need to integrate with multiple card networks while complying with RBI guidelines.
Tata Power arm TP Saurya to set up 300 MW hybrid wind-solar project
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TP Saurya Ltd (TPSL), a wholly-owned subsidiary of Tata Power, has received this Letter of Award (LoA) in a bid announced by MSEDCL, a company statement said.
