BUSINESS
Flipkart sells Cleartrip's Middle East biz to travel marketplace Wego
The transaction also includes the sale of Flyin.com and a technology cooperation agreement between Wego and Flipkart. Cleartrip expanded into the Middle East region in 2010 and acquired Riyadh based Flyin.com in 2018, which played a similar role in kick-starting online travel in Saudi Arabia. Wego and Cleartrip both have their regional headquarters located in Dubai.
New Chinese regulation hits online food delivery giants
The new regulation on online food delivery platforms in China has hit the industry hard, eroding over $25 billion in the stock value of the Meituan food delivery app being run by Alibaba. A group of Chinese authorities has announced that the food delivery platforms should further reduce the service fees charged to restaurants in order to lower the operating costs for food and beverage businesses, reports TechCrunch.
Afghanistan's state-owned bread factory resumes production after decades
Afghanistan's state-owned bread factory, Silo-e-Markazi or central silo located in Kabul, has resumed production decades after it stopped functioning, an official said here. The factory, which has been badly damaged since the 1990s and stopped functioning since 1992, would be fully reconstructed to increase its products.
Indian equities fall in early trade; Sensex slips over 600 pts
At 9.36 a.m., Sensex traded at 57,225 points, down 1.1 percent or 608 points, whereas Nifty traded 17,100 points, down 1.0 percent or 176 points. Among the stocks, HDFC Life, Titan, Bajaj Finserv, Hindalco, and UPL were the top five losers among the Nifty 50 companies during the early trade, declining 2.4 percent, 2.3 percent, 1.8 percent, 1.8 percent, and 1.7 percent, respectively.
EPFO added 14.6 lakh subscribers in Dec 2021, up 16.4% YoY
Comparison shows an increase of around 2.06 lakh in net payroll additions in December 2021, as compared to 12.54 lakh net subscribers added during the corresponding month of the previous year. On a month-on-month basis, the net subscriber addition increased by 19.98 per cent, as compared to November 2021.
MHA to verify background of Air India's new CEO Ilker Ayci
This is routine procedure when a foreign national is appointed CEO of any Indian company, officials added. Ayci, a Turkish citizen, was recently appointed as the CEO and MD of Air India. The officials said that the process will be initiated once the MHA gets official communication on Ayci from the Tata group or the Ministry of Civil Aviation, which is a nodal Ministry.
China's mobile gaming market reports revenue growth in Jan
According to Xinhua news agency, the sales revenue of the market reached about 22.24 billion yuan (about $3.51 billion) last month, up 17.76 per cent year on year, said a report released by CNG, a research institute on the gaming industry. The revenue also increased 20.25 per cent from December 2021, the report said.
NSE fraud: CBI grills Ravi Narain, the CEO before Chitra
Earlier, it was speculated that he had fled to London but the CBI source confirmed that Ravi Narain is very much in Mumbai and his statement wad recorded. Ravi was too evasive and tried to evade a lot of questions. He also requested that his LoC should be closed. Now CBI will record the statement of Anand Subramanian who was hired in NSE by flouting all rules by Chitra Ramakrishna as a Chief Strategic Advisor.
Semicon India Programme receives proposals worth $20.5bn
Accordingly, the proposals were received during the first round of application submission for the Centre's 'Semicon India Programme'. Last year, the Union Cabinet approved the Semicon India Programme with an outlay of Rs 76,000 crore to ensure development of 'Semiconductor and Display' ecosystem in the country.
Specialty chemical maker Vikas EcoTech's shares up over 200% in 1 yr
Vikas EcoTech shares gained over 200 per cent over the past one-year period evidently due to the announcement of production-linked incentives to reduce import dependency for various products. Founded in 1984, Vikas Ecotech is a leading provider of high-end speciality chemicals to buyers across the world. The Centre introduced PLIs for 14 sectors, of which specialty chemicals is one of them. India is a major importer of specialty chemicals.
Don't Miss
Advertisement