In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
He said India has also opened its defence industry 'like never before' and sought investments in the sector.
'People will say a lot of things -- ignore the noise.'
Th report predicted that the world population is to reach eight billion by mid-November 2022.
Recently, Slice, a payment app, acquired a 5 per cent stake in North East Small Finance (NESF) for $3.42 million - the first such deal by a fintech in a small finance bank. Slice (valued at $1.5 billion, and backed by Tiger Global, Blume Ventures and Axis Bank) will technically get a toehold in a scheduled commercial bank if NESF were to get a licence to morph into one down the line Such a transition is well within the banking regulator's declared framework. The transaction has to be seen in a larger context.
Buying a car, particularly a diesel-powered one, is set to pinch the customers' pockets even more from the next financial year, as the second phase of Bharat Stage VI (BSVI) emission norms kicks in. The rules require cars to be compliant with real driving emission (RDE) norms, which measure pollutants emitted by cars while they are being driven on the road, unlike in a laboratory test. The norms may increase the cost of producing diesel vehicles by nearly Rs 75,000 to Rs 80,000, and petrol-powered ones by Rs 25,000 to Rs 30,000, analysts said.
The merits and demerits of the telcos' 5G strategy however is clearly dependent on the financial muscle of players, reports Surajeet Das Gupta.
The idea was that despite some defaults the high rates would assure good profits.
Businesses of various scales can improve productivity and affordability of their products and services by building tech intensity, Microsoft CEO Satya Nadella has said. Nadella noted that organisations globally are undergoing digital transformation amid the COVID pandemic, and that trends like hybrid work, hyperconnected business and multi-cloud environments require "a boundaryless digital ecosystem where trust between different parties needs to be established in real-time". "Digital technology is a powerful deflationary force in an inflationary economy. Businesses - small and large - can improve their productivity as well as the affordability of their products and services by building tech intensity," he said.
Roads are becoming smarter even if the people driving on it are not. A set of smart technologies is making construction, maintenance, and traffic management much more efficient.
The counsel appearing for the Centre told the top court on Friday that they have written to the secretaries of the ministries of external affairs as well as health on the issue.
At Prestige Polygon Towers in Chennai's Teynampet, hectic preparations are on for a mega global investors' meet under the aegis of Guidance Tamil Nadu (the state investment promotion agency) scheduled for January 2024. Asked about the key focus areas of the meet, the agency's managing director and chief executive officer, V Vishnu, said the state was betting big on electric mobility. This is no surprise, given that the state has signed electric vehicle (EV)-related memorandums of understanding (MoUs) with several companies in the recent past that may bring in investments worth around Rs 33,000 crore with the potential to create over 43,000 job opportunities.
No longer a discretion of the tax administrator, the audit of returns filed by taxpayers is now based on a selection by algorithms, notes Tarun Bajaj.
iPhone sales in India were up by 56 per cent during the period.
Infosys recently hosted its first-ever global hackathon, which was held across 20 locations and saw participation from over 1,100 employees.
By 2025, Uber projects that 25,000-30,000 cars -- or 12 to 16 per cent of vehicle additions -- would be EVs, reports Surajeet Das Gupta.
Taiwan had shifted its purchases of large military platforms and systems, like fighter jets and naval vessels, to smaller lethal anti-ship and surface-to-air-missiles, reported The Singapore Post citing local media.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
ARM has revealed plans to put chips into more mobile devices that will let chipmakers like STMicroelectronics, FreeScale speed up the development of ARM-based chips for smartphones and PDAs
In India, air pollution is most severe in the Indo-Gangetic Plain (northern India), where topography and meteorology concentrate pollution from energy, mobility, industry, agriculture, and other activities, the researchers said.
This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.
Finance Minister Nirmala Sitharaman on Monday held a meeting with representatives of the semiconductor industry of the US and invited them to make further investments in India. The finance minister spoke about opportunities for companies situated in Silicon Valley and about the government of India's commitment to be a reliable player in the entire semiconductor value chain with dedicated incentive for the sector in mission mode through the Indian Semiconductor Mission. Last year, the government approved a Rs 76,000-crore scheme to boost semiconductor and display manufacturing in the country in a bid to position India as a global hub for hi-tech production, and attract large chip makers.
Global forecasting firm Oxford Economics on Monday revised downwards its India GDP growth forecast for 2021 to 10.2 per cent from 11.8 per cent previously, citing the country's escalating health burden, faltering vaccination rate and lack of a convincing government strategy to contain the pandemic. Oxford Economics also said that notwithstanding the likelihood of further mobility restrictions, it expects India's targeted lockdown approach, less stringent restrictions, and resilient consumer and business behaviour to mitigate the economic impact of the second wave.
Prime Minister Modi also made a veiled reference to China, saying the global order is based on the respect for the principles of the UN Charter, peaceful resolution of disputes, and respect for sovereignty and territorial integrity.
Even as India's passenger-vehicle sales touched a record high of 3.9 million units in 2022-23, growing 27 per cent over the previous financial year, the country's largest carmaker, Maruti Suzuki India (MSIL), said on Monday uncertainties in the electronic-component supplies might affect production in FY24. MSIL said the shortage of electronic components had some impact on production in FY23. "The company took all possible measures to minimise the impact.
'We don't know if the water we are drinking has lead in it or not.' 'In India, we don't have ways to easily detect or measure contamination levels.'
'Why does a State that sees a national security issue at every turn not recognise the seriousness of the data from sensitive databases being breached?'
Will open radio access network technology (O-RAN) disrupt the way 5G networks roll out in the country? After all, it promises to offer a substantially lower capital cost, enables the choice of an array of vendors, and provides more network flexibility - all very important for telcos who expect to invest over Rs 60,000 crore to roll out a pan-India 5G network and that's without spectrum costs. But more importantly, it counters the stranglehold of global telecom gear makers such as Ericsson, Nokia, and Samsung over telcos to whom they sell propriety technology and bundled hardware and software.
'The Indian economy and the Indian financial sector today remain resilient and much better placed.'
Security agencies could track the flight path and even address of criminals involved in this cross-border illegal activity that is rearing its head over the last few years, he said on Saturday.
Both prime ministers believed in crafting schemes to help the common man. Modi used quite effectively the instruments Dr Singh introduced. In assessing Modi's success with many schemes, Dr Singh's fundamental work should not be ignored, points out A K Bhattacharya.
Ola Electric will roll out its complete offering of electric scooters and motorcycles in each segment of the market - premium, mass premium, and economical - in the next 12 months in a bid to push for a near-full conversion of the two-wheeler market to electric in three years. According to Bhavish Aggarwal, founder and CEO of Ola Electric, "ICE (internal combustion engine) products will fall off a cliff." He also says the company is aiming to become profitable next year.
Global energy supermajor BP plc on Thursday said it is about to open its first 'Jio-bp' branded petrol pump in partnership with Reliance Industries near Mumbai.
Most of the markets it is now looking at in hopes of gaining the next billion internet users have demographics similar to that of India.
The company is planning to invest Rs 1,100 crore in the new mobile phone manufacturing facility.
Reliance Communications has decided to launch a call centre to help its subscribers locate a particular destination. It will give information on the shortest route to a destination, important places to visit while travelling to another city, location of theatres, hospitals and ATMs. The information, if required, will also be texted to user. The service, currently in its pilot phase, will be launched across the country within a fortnight.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
'There is no such thing as ultimate survivability.'
'It's all comparative -- who outperforms, who uses tactics, who optimises technology to the best is what makes the difference.'
Prime Minister Narendra Modi on Friday flagged off the Gandhinagar-Mumbai Vande Bharat Express semi-high speed train.
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