India’s $78B Deal to Extend Qatar LNG Imports
India, the world’s fourth-largest consumer of energy, is likely to sign a $78 billion deal with Qatar, the world’s top exporter of liquefied natural gas (LNG), to extend its LNG imports for another 20 years beyond 2028 at rates that are lower than current prices, sources said. The deal will be signed between Petronet LNG […]
Digital Commerce Platform OTO Bags $10M from K L Rahul
OTO, a digital commerce and lending platform for two-wheelers, has raised $10 million in a funding round led by GMO Venture Partners. The round also saw participation from Turbostart, Indian cricketer K L Rahul, and a few other family offices. Existing investors Prime Venture Partners, Matrix Partners, and 9 Unicorns funds also joined the round. […]
HDFC Bank to Buy 9.5% Stake in ICICI Bank, 5 Others
HDFC Bank Group, the country’s largest private banking group, has received approval from the Reserve Bank of India (RBI) to acquire up to 9.5% stakes in six private lenders, including ICICI Bank, Axis Bank, YES Bank, Suryoday Small Finance Bank, IndusInd Bank and Bandhan Bank. The group comprises HDFC Bank, HDFC Asset Management Company (AMC), […]
HSBC Mutual Fund Introduces Multi Asset Allocation Offering
HSBC Mutual Fund has announced the launch of a new fund offering (NFO) for an open-ended scheme focused on multi asset allocation. The fund aims to invest the corpus in equity and equity-related instruments, debt and money market securities and gold/silver ETFs. The NFO will be open for subscription from February 8 to February 22, […]
TCS Hikes Rates on Overseas Tour Packages by 15%
If you are planning to book an overseas tour package from a travel agent, be ready to pay more from October 1, 2023. The government has increased the tax collection at source (TCS) rate from 5% to 20% on such packages, as per the Budget 2023-24. This means that you will have to shell out […]
Vanguard Reduces Ola Cabs’ Valuation by 30%
Ola Cabs, one of India’s leading ride-hailing companies, has faced a significant valuation cut by US asset manager Vanguard, one of its investors. According to a regulatory filing, Vanguard has reduced Ola’s valuation by 30% to under $2 billion, marking its third consecutive markdown in the past year. What does this mean for Ola? Ola […]
World’s First Lab-Grown Jewellery, Solitario, on Burj Khalifa
Solitario, a leading jewellery brand known for its exceptional lab-grown diamonds of superior quality, recently introduced its latest line during a spectacular launch event beneath the gleaming lights of Burj Khalifa in Dubai. The brand is pioneering the lab-grown diamond industry in India and expanding its global presence with the launch of its fourth outpost […]
L&T to Construct Bridge Over Brahmaputra
India’s leading engineering and construction company, Larsen & Toubro (L&T), has secured a large contract to construct the country’s longest road bridge across the river Brahmaputra, connecting Dhubri in Assam to Phulbari in Meghalaya. The project is being financed by the Japan International Cooperation Agency (JICA) and will be executed by L&T Construction, the construction […]
Yamaha’s $40M Investment in E-Scooter Firm River
River, a Bengaluru-based electric scooter startup, has raised $40 million in a Series B funding round led by Yamaha Motor Corp and other investors. The company plans to use the funds to expand its distribution and service network across the country, as well as for research and development of its future products. River’s Indie e-scooter […]