Hiranandnani's new venture is well-timed, but it will face heavy competition from both international majors and domestic peers like Adani Group.
Flipkart has promoted several of its leaders into newer roles at a time when the Walmart-owned e-commerce giant has internally raised its IPO (initial public offering) valuation target to about $60 billion and aims for a US listing in 2023, according to the sources. "I am delighted to announce the promotion of some of our exemplary leaders," said Kalyan Krishnamurthy, chief executive officer, Flipkart Group, in an internal note, and which has been reviewed by Business Standard. "Each of them has been instrumental in delivering impact and creating long-term value for Flipkart.
Chiplun, Khed and several other towns in Ratnagiri and parts of neighbouring Raigad bore the brunt of the torrential rain and the subsequent floods over the last few days, with several rivers in the region flowing above the danger mark. Although the water level has receded to a large extent in most of the affected parts, the floods have left a trail of large scale damage - from sludge and heaps of mud in the houses and roads to loss of loved ones.
Kerala will be one of those places where the line between tourism, a land, a people and their way of life will blur. It won't be tourism; it will be a visit to experience Kerala.
Ola founder and chief executive officer (CEO) Bhavish Aggarwal will step back from day-to-day operations to focus more on engineering functions, team building, and products, apart from focusing on long-term strategic projects, such as two-wheelers, cars, and innovations in quick commerce and international expansion. "I'll be spending more time with all engineering functions, team building, and on products," said Aggarwal in an internal note, adding, "I'll also be increasing my focus on our longer-term strategic projects, including new two-wheeler products, our car project, innovations in quick commerce, electrifying ride-hailing, our cell research and development (R&D), international expansion, building our Pune technology (tech) centre, and Futurefoundry UK." To drive scale, speed, and quality, Aggarwal said he is expanding Ola Group's chief financial officer (CFO) G R Arun Kumar's role to help him steer 'day-to-day operations' across the group.
'It doesn't matter where you come from. If you strongly believe in your idea and we see potential in scaling it up, there are people to back it up.'
A long and bitter funding winter in the start-up world is beginning to take its toll on start-up advertising across properties. Earlier this week, Mastercard replaced Paytm as the title sponsor for all international and domestic cricket matches organised by the Board of Control for Cricket in India (BCCI). But this is just one part of the story. The other side is that organisers of high-impact shows and events on Hindi general entertainment channels, too, are feeling the winter chill.
Amid questions over his future, many political observers believe he has enhanced his political stature.
As the SARS-CoV2 evolves and mutates further, it is necessary to be prepared for new waves, Principal Scientific Adviser K VijayRaghavan cautioned on Wednesday, even as he said ferocity of the second wave of coronavirus in the country was not predicted.
The Supreme Court on Thursday said there was no bar on the collegium to go ahead with its work to appoint judges for the higher judiciary, which is plagued with large-scale vacancies.
Freshdesk also launched an IT service management product Freshservice to offer cloud-based service desk solution for smaller companies for their internal IT support.
Kim Jong-un declared he would never surrender North Korea's nuclear weapons weapons even if his country faced 100 years of sanctions. Dr Rajaram Panda explains Pyongyang's new nuclear doctrine that makes the world a much more dangerous place.
'Despite our being a part of a welfare state, benefits are not trickling down to the intended beneficiaries at the desired levels. People's aspirations about leading a dignified life are often met with challenges. One of them, primarily, being poverty'
Due to the group's presence across multiple businesses, it is in a unique position in the aviation industry to bring the best of talents.
Road and rail traffic was partially affected in some regions on Monday during a 'Bharat bandh' called against the Agnipath military recruitment scheme, while protests appeared to taper off in many states, with authorities stepping up security and imposing curbs after days of unrest.
Senior Congress leaders Mallikarjun Kharge and Salman Khurshid on Wednesday hit back at their party colleague Kapil Sibal and other leaders of the G-23, alleging that they were trying to break the party by continuing to hold meetings even after the Congress Working Committee (CWC) had discussed 'all' issues during its recent meeting.
Gita Gopinath, the IMF's Indian-American chief economist has been promoted as its First Deputy Managing Director recognising her exceptional intellectual leadership in helping the global economy and the Fund to navigate the "twists and turns" of the "worst economic crisis of our lives". Gopinath would replace Geoffrey Okamoto who plans to leave the International Monetary Fund early next year, Kristalina Georgieva, IMF's managing director announced on Thursday. Gopinath, who was scheduled to return to her academic position at Harvard University in January 2022, has decided to stay, she said. Gopinath, 49, has served as the first female chief economist of the Washington-based global lender for three years.
'We will need more than 21 days of lockdown for sure.'
'When people would tell me that any actor would give his left arm to be seen in a single frame of a Marvel project without even a single line of dialogue, I would laugh them off.'
Over 50 employees of the company whose office was located on the first floor were rescued while 27 bodies have been found.
The return of around 6,000 paramilitary personnel to Jammu and Kashmir after election duty elsewhere has triggered large scale rumours, ranging from further bifurcation of the union territory to announcement of elections after realigning districts, for the last three days.
New norms are in place to strengthen regulations for this set of lenders which has been playing a critical role in Asia's third largest economy, notes Tamal Bandyopadhyay.
Climate change has hampered the ability of the forecasting agencies to accurately predict severe events and weather bureaus across the world are focusing on augmenting the observational network density and the weather prediction modelling to improve predictability, India Meteorological Department (IMD) Director General Mrutyunjay Mohapatra has said.
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
The inexperienced Uddhav is forced to match up against 24x7 political pros Amit Shah and Narendra Modi who have the added advantage of wielding power at the Centre, asserts Virendra Kapoor.
We will continue to be enthralled by your golden oldies we grew up with, notes Shreekant Sambrani.
Tharoor, among the group of 23 leaders who had written to party chief Sonia Gandhi in 2020 seeking large-scale reforms, said 'reformists' at the end of the day wanted a more consultative process where a wide variety of voices would be heard and taken into account before decisions were made.
'The entire public needs to be evacuated immediately. Any day, the entire town can collapse.'
The survey was stalled last week amid objections by the mosque committee, which claimed that the advocate commissioner appointed by the court for the survey did not have the mandate to film inside the premises.
The chairman of the committee, A K Mathur, sought abolishment of the two-year edge accorded to the IAS officers for empanelment, compared to other services, saying it was an 'archaic concept'.
Currently, an IAS and IFS officer are accorded a pay advantage or financial edge.
The hometown team scored the first win of the Tokyo Olympics as the pandemic-delayed Games began with an 8-1 win for Japan over Australia in the softball.
IIT Delhi is the first academic institute to have obtained the ICMR approval for a real-time PCR- based diagnostic assay. The development also comes against the backdrop of the Indian Council of Medical Research halting the testing for COVID-19 cases through China-made test kits because of massive variation in test results, compounding the challenge to check and contain the pandemic.
Non-BJP chief ministers are retaliating. If the Centre can use its agencies to threaten, intimidate and jail its rivals, so can they. The fightback will get more intense, observes Shekhar Gupta.
The reopening of schools and colleges has sparked a crisis in the edtech sector with falling valuations, slowing funding rounds and faltering investor sentiment. In a totally altered, post-pandemic landscape where students are back at school and colleges, companies are scrambling to revert to bricks-and-mortar tuition centres and adopting a hybrid model of offline and online education. Demand for online tuition has fallen, affecting the revenue of edtech companies in recent months. After two years of booming revenues, some experts say the sector is looking at a possible meltdown.
When the world was upended by the Covid-19 pandemic, metals got its shine back. In the last two years, infrastructure spending by major economies spurred demand, energy transition and intermittent supply disruptions fuelled a scorching rally in metals after a downturn during the first Covid wave. Now, Russia's war on Ukraine is ensuring that elevated prices stay the course.
When Open Network for Digital Commerce (ONDC) was conceived last December, the idea was to reduce the dominance of e-commerce giants like Amazon and Flipkart. It was also to bring in a level-playing field for small merchants in India's fragmented but fast-growing $1-trillion retail market. However, those goals have changed now as large e-commerce players such as Flipkart, Amazon and Ecom Express are in various levels of talks with the ONDC team. They want to form partnerships like integrating with the network as well as providing their expertise to build it, according to the industry sources.
Changes in global oil and gas rates matter more to India's economy than other major economies because the country imports around 87 per cent of its oil, half of its gas in the form of LNG, and over 60 per cent of its LPG.
'For every act of terrorism on Indian territory for which there is credible evidence pointing to the Pakistan army and the ISI's involvement, carefully calibrated military strikes must be launched against the Pakistan army,' says Brigadier Gurmeet Kanwal (retd).
