Hospitality firm OYO is looking to raise $600 million (over Rs 4,380 crore) in debt from the US institutional investors to service its existing loans, sources in know of the matter said on Thursday. The company is raising $600 million in a term loan B (TLB) structure, the sources said. The company is taking the TLB to service its existing loans which are on higher interest rates, they added.
Mobile device maker Realme has overtaken South Korean giant Samsung to grab the second spot in the branded smartphone market, with 18 per cent volume share in October this year, revealed Counterpoint Research. Its rival Samsung ended October with 16 per cent share. Xiaomi (including its brand POCO) was at 20 per cent; Vivo at 13 per cent. The ascent brings Realme closer to its ambition to reach the No. 1 berth by 2022 when it hopes to sell over 40 million smartphones annually.
The United Nations Security Council on Thursday expressed deep concern over the declaration of the state of emergency in Myanmar by the military and called for the immediate release of Aung San Suu Kyi and other political leaders arbitrarily detained by the military.
Food delivery apps Zomato and Swiggy reported a nationwide outage on Wednesday. Both the platforms witnessed technical glitches and were unresponsive for almost an hour. Downdetector, a platform that collects status reports from a series of sources, recorded about 3,619 reports of outage against Zomato at 2:05 PM and about 771 reports of outage against Swiggy at around 2:21 PM. According to the sources, the outage was caused by Amazon Web Services (AWS), a cloud-services platform, which runs both platforms. Though Swiggy and Zomato are working now, some customers reported that the issue has not been solved completely and they are not able to place orders and there are payment related issues.
The Chinese military on Thursday said it has conducted precision strikes over the Taiwan Strait and 'expected results' were achieved, in apparent retaliation to the United States House Speaker Nancy Pelosi's visit to Taipei disregarding Beijing's vociferous warnings.
Mount Etna, Europe's most active volcano, has awed even seasoned volcanologists in recent days with spectacular spurts of lava lighting up the Sicilian sky each night. For over a week, Etna has been belching lava, ash and volcanic rocks on a regular basis.
India has been consistently objecting to the methodology adopted by the WHO to project excess mortality estimates based on mathematical models, the Union Health Ministry said in a statement.
US Secretary of State Antony Blinken said that the United States is calling on all nations not to have major weapons transactions with Russia. He made these marks after the conclusion of the 2+2 Ministerial Dialogue between the defence and foreign ministers of India and the United States.
Seeking to further democratise air travel with dependable and affordable services, airline Akasa Air is aiming to start flights in late May or early June after getting its first Boeing 737 MAX aircraft in April. Bullish on the long term growth potential of the country's civil aviation sector, ace investor Rakesh Jhunjhunwala-backed carrier is looking to have 18 planes in its fleet by the end of March 2023. Despite COVID clouds continuing to cast a shadow on the airlines, Akasa Air CEO Vinay Dube is more than optimistic as he asserted that "if you look at the long term future of commercial aviation in India, it is as exciting as anywhere in the world".
Fintech unicorn Razorpay has raised $375 million in the Series F round of funding at a $7.5-billion valuation, making it India's second-most valuable start-up in this space, after Paytm. The company valuation has surged over seven times in 15 months, helping it push Walmart-owned digital payments firm PhonePe to the third spot on the country's most-valuable fintech list. Razorpay's latest round of fundraising was led by Lone Pine Capital, Alkeon Capital, and TCV.
The 13th report of the Analytical Support and Sanctions Monitoring Team cites a UN Member State as saying that Jaish-e-Mohammed (JeM), a Deobandi group ideologically closer to the Taliban "maintains eight training camps in Nangarhar, three of which are directly under Taliban control."
'Overtightening of monetary policy by central banks and the spread of new Covid variants, which may force governments to restart lockdowns or restrict mobility.'
Heavy falls at isolated places are very likely over Kerala on April 29 and 30. The system will not make landfall in Tamil Nadu, but may bring light rain in some northern parts, it said.
The orange alert has been issued for moderate or heavy thunderstorms and wind speed with 30-40 km per hour to reach some districts of Odisha within the next three hours.
P V Narasimha Rao strongly felt that the reforms would have to be mindful of Indian concerns and would have to protect the interests of our poor and our working people, he said.
These kinds of assumptions to be used for a nation of India's size and "to put us in poor light is not desirable"
Bilkis had expressed her willingness to join the farmers' protest at the Delhi-Haryana border at Singhu.
China is building the world's highest-altitude cloud computing data centre in Tibet that will meet the data storage needs of the country and South Asian nations like Nepal, Bangladesh and Pakistan, official media reported on Thursday.
'Young working adults between 25 and 34, who are in Indian Tier II and III cities, are leading the charge in terms of crypto adoption.'
'Due to severe rains and heavy cross winds, arrivals at #AAI Chennai Airport will remain suspended from 1315 hrs to 1800 hrs, today. Departures will continue. The decision has been taken considering the safety aspect of passengers and severity of wind,' the Chennai Airport tweeted.
World boxing icon Manny Pacquiao announced his retirement from what he called the "greatest sport in the world" on Wednesday to focus on a run for the Philippines presidency, the biggest fight of his career.
PE/VC investments touched a record $11.2 billion in the first half of 2017 against $8 billion in the same period in 2016
If confirmed by the Senate, Garcetti, 50, would replace Kenneth Juster, who served as India's Ambassador to the US during the Trump administration.
The reason is that because of the hybrid immunity after three waves of natural infection and a large proportion of adults receiving both doses of COVID-19 vaccine, the susceptible pool has come down drastically, Lahariya said.
The National Company Law Appellate Tribunal (NCLAT) on Wednesday closed insolvency proceedings against Oyo and one of its subsidiaries, and also disallowed the intervention of external parties including Federation of Hotel & Restaurant Associations of India (FHRAI). Industry body FHRAI said in May it has been allowed by the NCLAT to intervene on behalf of hotels in the Oyo unit insolvency case before the tribunal. The association had filed the application on behalf of its member hotels in India, who it said at the time are operational creditors suffering hugely on account of non-payments of debt by Oyo.
Researchers from wildlife conservation group World Wildlife Fund and the park's conservation academy found about 5.9 kg of plastic waste in the animal's stomach.
The Chinese coercion and aggression spans the globe, but it is most acute in the Indo-Pacific, it said.
The posters reading "Modiji humare bachon ki vaccine videsh kyu bhej diya (PM why did you send vaccines of our children to foreign countries?)" were plastered in several parts of the city
Since 2013-14, buffalo meat had been the largest export item in the agri commodity basket for a few years. Since the coronavirus outbreak in January, Indian exporters have received no fresh orders from Southeast Asian and West Asian countries, which cumulatively contribute nearly 65 per cent of India's overall buffalo meat shipment.
Speaking at a seminar in New Delhi, Madhav stressed that culture and religion have been the major aspect of ties between India and Southeast Asia
Private equity player Everstone Capital has sold Modern Foods, which it had taken over in early 2016 from Hindustan Unilever, to Mexican baking major Grupo Bimbo for an undisclosed sum.
Centre ordered release of Rs 1,086 crore to four states as advance financial assistance for undertaking preventive and relief measures to deal with the cyclone.
The US, he said, rejects any Chinese claim to waters beyond a 12-nautical mile territorial sea derived from islands it claims in the Spratly Islands (without prejudice to other states' sovereignty claims over such islands).
'The MEA, hopefully, made it clear that the Indian PM can't be seen in Xi Jinping's company when China has, for all intents and purposes, annexed over 1,000 sq kms of Indian territory in eastern Ladakh, and essentially that the Wuhan spirit and the Mamallapuram spirit have turned into vinegar.'
The agreement would divert China's attention and keep them busy in the Pacific theatre, probably resulting in a reduction in threat perception in our area of interest in the Indian Ocean, notes Commodore Venugopal Menon (retd).
Russia's war on Ukraine has sent steel prices soaring to its highest levels in the domestic market since November 2021. But there is little cheer in the industry. That's because input costs are spiralling out of control, leaving the big boys nearly as high and dry as the small, medium and secondary steel producers. Russia and Ukraine are major providers of steel and raw materials to the world.
'Delta continues to be the dominant lineage for new cases across all parts of India in recent samples and remains the most rapidly rising lineage globally that is responsible for multiple outbreaks, including across Southeast Asia, which shows the fastest growth in new cases globally,' the INSACOG said.
As the ice-covered parts of the Arctic Ocean melt due to climate change, China has flagged its interest to take part in building 'Polar Silk Road', raising prospects for the emergence of a new sea route.
Iqbal Hossain was arrested from Cox's Bazar sea beach area on Thursday night and is suspected to be the one who allegedly placed a copy of the Quran at a Durga Puja venue in Cumilla, bdnews24.com reported.
As India goes into firming up trade deals with developed nations like Australia, the United Kingdom (UK) and the regional bloc, and the European Union (EU), it will have to be well prepared to negotiate on new-generation issues, such as data protection regulation, e-commerce, and environment. India is yet to negotiate pacts with its trading partners on these evolving issues since discussions between them have until now been largely focused on tariff and non-tariff barriers and the rules of origin. "We can no longer look at trade just as trade. We have to look at it in totality of global and regional conditions.
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