The US military has intensified its efforts to collect the remnants of the high-altitude surveillance balloon from China that floated over the United States over several days last week from Montana to South Carolina.
While the investment amount could not be immediately ascertained, a report pegged it at about $2 billion.
Unacademy may see a funding dry spell for at least next 12-18 months and even last till 24 months and will cut costs to weather the lean period, said the chief executive of the education technology unicorn that recently laid off more than 600 employees. "This is a test for all of us. We must learn to work under constraints and focus on profitability at all costs. We must survive the winter," said Unacademy's co-founder and CEO Gaurav Munjal in a letter to the employees. "Winter is here. We are looking at a time when the funding will dry up for at least 12-18 months.
Prosus-backed fintech firm PayU is set to acquire India's earliest payment gateway BillDesk in an all-cash transaction of $4.7 billion. This will be the largest acquisition in India's digital payments space. The deal will also give exit to investors General Atlantic, TA Associates, Temasek, Clearstone Ventures, and Visa. The proposed acquisition will help PayU, the payments and fintech business of Prosus which operates in more than 20 markets, become one of the leading online payment providers globally by total payment volume (TPV).
This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
Jio Platforms is expected to use its 388 million mobile phone subscribers as the cornerstone of an e-commerce and digital services business to rival Amazon and Walmart's Flipkart.
Private equity firm Carlyle Group and associates will acquire a controlling stake of over 50 per cent in PNB Housing Finance by investing in the Rs 4,000 crore preferential issue of equity and warrants of the Delhi-based mortgage lender. After the proposed transactions, expected to be completed by January 1, 2022, Carlyle will also have the right to nominate the chairperson of PNB Housing Finance (PNB HF). This right will continue as long as it holds at least 40 per cent of the share capital on a fully diluted basis.
Indian and global airlines such as SpiceJet, Emirates, Virgin Atlantic among others too are marketing Covid-19 insurance products to attract passengers.
Though Google's investment is minuscule and will not move the needle, it will attract other investors to the company and be a morale booster. Pursuing Vodafone Idea would potentially pit Google against Facebook and an increasingly dominant Jio.
Reason for rejection hasn't been stated; deal among seven rejected transactions.
China has 'violated the sovereignty' of not just the United States but of countries across five continents, Secretary of State Antony Blinken alleged Wednesday, days after US fighter jets shot down a Chinese surveillance balloon.
The sources said the talks are focused on sorting out certain issues relating to cost component, weapons package and technology sharing.
Scheduled international passenger flights have remained suspended since March 23, 2020 in the wake of the pandemic and they will now restart from Sunday.
The United States on Sunday shot down another unidentified airborne object in its airspace, a day after it brought down a similar 'cylindrical' object over Canada.
The pandemic has confined students across all ages to home and digital education is the only way to continue learning.
US officials have said that the initial findings have suggested that the missile that hit Poland was fired by Ukrainian forces at an incoming Russian missile.
NATO Secretary General Jens Stoltenberg on Tuesday extended condolences to Polish President Andrzej Duda after the explosion in the east of the country, adding that the alliance is 'monitoring the situation'.
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic.
India has said that it was deeply concerned over the deteriorating situation in Ukraine and reiterated its call for immediate cessation of violence and end to hostilities.
A United States fighter jet Friday shot down an object, the size of a small car, flying with payloads at a height of about 40,000 feet off the northern coast of Alaska on the direction of President Joe Biden, officials said.
'I've always wanted to be a pilot; setting records is the icing on the cake.'
In all likelihood, the next conventional Chinese attack on India would be preceded by a massive cyber attack designed to cripple Indian networks and interfere with our disaster-relief programmes.
After months of negotiations, an entity owned by Pune-based property developer Panchshil Realty and US-based private equity (PE) company Blackstone has bought a majority stake in Express Towers.
They said after examining and analysing the adverse event reports, causal relationship and all related details shared by or to be shared by the WHO, the committee will advise and recommend further course of action to the Drugs Controller General of India (DCGI).
Biden made the remarks after an 'emergency meeting' convened by Biden of North-Atlantic Treaty Organisation (NATO) and G7 leaders on the sidelines of the G20 Summit in Bali, Indonesia.
The income tax department has sought to prosecute Reliance Group chairman Anil Ambani under the Black Money Act for allegedly evading Rs 420 crore in taxes on undisclosed funds worth more than Rs 814 crore held in two Swiss bank accounts.
Byju's has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India.
Valued at $5 billion, Byju's has seen growth sky rocket in the last two years on the back of mega VC top-ups.
Russian forces have made minimal progress on land, sea or air in recent days and they continue to suffer heavy losses, the UK's ministry of defence said on Thursday.
The further expansion and upgrade of the Chinese military does not augur well for India, which continues to confront an increasingly belligerent China on its borders, notes former foreign secretary Shyam Saran.
Minimum one-way air fares between Delhi and London are priced upwards of Rs one lakh in August due to limited number of seats, data collected by Directorate General of Civil Aviation (DGCA) shows. The United Kingdom has included India in the amber list and the change came into effect from Sunday. With this, passengers from India needn't undergo institutional quarantine and can self-isolate at home for 10 days.
Special envoys of China, Russia and Pakistan have met the top officials of the Taliban's interim government as well as Afghan leaders Hamid Karzai and Abdullah Abdullah in Kabul and discussed the formation of an inclusive government, combating terrorism and humanitarian situation, a top Chinese official said on Wednesday.
What's different this time is that global financial stress -- which has its genesis in four policy choices made in recent years -- is juxtaposed with a more resilient real economy, observes Sajjid Z Chinoy, chief India economist at J P Morgan.
India's shift towards US companies for technology investments and partnerships fits well with the present government's 'Atmanirbhar Bharat' and 'Make in India' initiatives, say experts.
The fast-growing, high-margin branded spices business is turning out to be an interesting growth opportunity, which to an extent was reflected in the Sunrise-ITC deal, with multiple parties from PE to strategic players joining the fray.
The World Meteorological Organisation/Economic and Social Commission for Asia and the Pacific Panel on Tropical Cyclones, at its twenty-seventh session held in 2000 in Muscat, Oman, agreed to assign names to the tropical cyclones in the Bay of Bengal and Arabian Sea.
Putin's idea was to attack his neighbouring country, he has to stop and then only we can find a solution, said the German ambassador.
