PM Modi Unveils Rs 4000 Cr Projects, Envisions Kochi as Future Shipbuilding Centre
Prime Minister Narendra Modi inaugurated three major projects worth Rs 4,000 crore in Kochi on Wednesday, January 17, 2024, with a vision to transform India’s ports, shipping and waterways sectors. The projects include the New Dry Dock (NDD) and the International Ship Repair Facility (ISRF) of Cochin Shipyard Limited (CSL) and the LPG Import Terminal […]
At Davos WEF Meet, Karnataka Govt Secures Rs 22,000 Crore Deals with Seven Companies
The Karnataka government has announced that it has signed Memorandums of Understanding (MoUs) with seven companies for investment proposals worth Rs 22,000 crore at the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland. The MoUs were signed on Wednesday, January 17, 2024, by a delegation from the state led by Minister for Large and […]
IREDA and Indian Overseas Bank Join Forces to Co-Finance Renewable Energy Projects
A New Partnership for Green Energy State-owned Indian Renewable Energy Development Agency (IREDA) and Indian Overseas Bank (IOB) have signed a memorandum of understanding (MoU) to co-finance renewable energy projects in India. The agreement was signed in the presence of IREDA CMD Pradip Kumar Das and IOB MD and CEO Ajay Kumar Srivastava in New […]
IMF Chief Predicts AI’s Global Impact: 40% of Jobs to be Affected
Artificial intelligence (AI) is poised to profoundly change the global economy, with both positive and negative effects on workers, productivity and growth, according to the International Monetary Fund (IMF) chief Kristalina Georgieva. AI and job security In a recent interview with AFP, Ms. Georgieva said that AI will affect 60% of jobs in advanced economies, […]
TCS Targets Full Staff Training in Gen AI Skills: A Leap Towards Future
Tata Consultancy Services (TCS), the largest IT services exporter in India, has announced its ambitious plan to train its entire workforce of over 500,000 software engineers on Generative Artificial Intelligence (AI) skills. This move is aimed at creating one of the world’s largest AI-ready workforce and tapping into the huge potential of Gen AI for […]
Adani Group Increases Ownership in IANS News Agency
AMNL acquires majority stake in IANS AMG Media Networks Limited (AMNL), a wholly owned subsidiary of Adani Enterprises, has increased its stake in IANS India Private Limited (IANS), one of India’s leading news agencies, by subscribing to fresh shares worth Rs 5 crore. The acquisition was announced on Wednesday, January 17, 2024. According to a […]
KisanKonnect, Backed by Shilpa Shetty, Secures Rs 31 Crore Funding Led by Climate-Tech Fund GFC
About the startup KisanKonnect is a Pune-based agritech startup that was founded in 2020 by Vivek and Nidhi Nirmal. The startup sources fresh vegetables and fruits directly from its network of 5,000 farmers and delivers them to customers in Mumbai and Pune through its own D2C app and farm-stores. It also has a line of […]
Wow! Momo Secures Rs 350 cr Funding from Khazanah Nasional Berhad; Early Backers Make Exit
Wow! Momo Foods, the parent company of Wow! Momo, Wow! China and Wow! Chicken, has announced that it has raised Rs 350 crore from Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia. This is the largest funding round for the company so far and values it at over Rs 2,400 crore. About the deal […]
No Exemption for SEZ Units from Compensation Cess under GST
The Andhra Pradesh High Court has recently delivered a judgment that has significant implications for the Special Economic Zone (SEZ) units in India. The court has held that SEZ units are not exempt from paying compensation cess under the Goods and Services Tax (GST) regime on imported goods. This decision may affect the cost and […]
Housing Finance Companies to Follow NBFC Standards: RBI’s New Deposit Rules
In a significant regulatory shift, the Reserve Bank of India (RBI) has proposed new rules for Housing Finance Companies (HFCs) to align them with the standards applied to Non-Banking Financial Companies (NBFCs). This move aims to tighten deposit mobilization rules and introduce a more robust regulatory framework. Key Changes Proposed The RBI’s move to harmonize […]