BUSINESS
Airbnb tightens policies to crack down on NYE parties
The company said that the anchor of this plan is a ban on one-night NYE bookings in entire home listings for guests without a history of positive reviews. "As we build upon the party ban and continue to protect our community during this unprecedented time, certain holidays, such as New Years' Eve, attract higher risks of unauthorised or disruptive parties," the company said in a statement.
India sees record M&A volume in 2021, first-time buyers lead
The nature of deals was broad-based, including more mid-sized deals ranging from $500 million-$1 billion, compared to the mega $5 billion deals that drove activity in 2017-19, according to a Bain & Company report. "The unprecedented flurry of deals seen in 2021 is the result of a higher pressure to grow and a need to seize more opportunities to disrupt, faced by CEOs today," said Karan Singh, managing partner, Bain & Company India and author of the report.
10-minute grocery delivery app Zepto raises $100 mn
Besides the fundraise, Zepto has been growing incredibly quickly and is tripling its user-base every month. Over the past two months, Zepto has expanded beyond Mumbai by launching in Bengaluru, Delhi, Gurgaon, Chennai, Hyderabad and Pune (Kolkata to follow), the company said in a statement.
Omicron fears sink US stocks
The Dow Jones Industrial Average opened with a loss of more than 600 points, falling 1.7 per cent on Monday after the opening bell. The S&P 500 fell 1.6 per cent, while the Nasdaq fell 1.5 per cent. Energy, financial, industrial, and technology sector companies led Monday's losses, reflecting a range of headwinds facing those industries.
Scammers netted cryptocurrencies worth $7.7 bn in 2021: Report
According to Blockchain analysis firm Chainalysis, nearly $1.1 billion of the $7.7 billion were attributed to a single scheme which allegedly targeted Russia and Ukraine. A key source of rising cryptocurrency scams in 2021 were 'rug pulls', where the developers of a new cryptocurrency vanish and take supporters' funds with them, reports ZDNet.
Prime Minister meets CEOs, takes feedback before next budget
This was the second such interaction between the Prime Minister and industry representatives in the run-up to the next Union Budget. "The Prime Minister talked about the inherent strength of the country, displayed during the battle against Covid. He thanked the industry leaders for their inputs and suggestions, and exhorted them to make full use of policies like PLI incentive," said the Prime Minister's Office in a statement.
CCI approves acquisition of Air India stake by Tata Sons' Talace
The acquisition envisaged 100 per cent equity share capital of Air India and Air India Express, and 50 per cent for that of Air India SATS Airport Services by Talace. At present, Air India is wholly owned by the government. The airline, along with AIXL, is primarily engaged in the business of providing domestic scheduled air passenger transport service, international scheduled air passenger transport service, and air cargo transport services.
Vedanta Aluminium launches High-Speed Billets for extrusion industry
The company's global experts on billet extrusion also shared a slew of initiatives as part of its Customer Technical Service cell for unparalleled customer experience. Vedanta is India's largest manufacturer and exporter of high-quality aluminium billets, which find end-usage in Building & amp; Construction, Solar/Renewable Energy, Automotive, Electrical and many other key industries through the extrusion process.
India extends 'free' import policy for different palm oils
These palm oils include "refined bleached deodorised palm oil", "refined bleached deodorised palmolein", and another variant (palm oil and its fractions, whether or not refined, but not chemically modified). As per a Ministry of Commerce and Industry notification, the import is free for a period up to December 31, 2022.
Lok Sabha passes second supplementary demand for grants amid din
Replying to the debate on the supplementary demand for grants, Finance Minister Nirmala Sitharaman said that the government has recovered Rs 13,109 crore by selling the assets of fugitive defaulters such as Nirav Modi, Mehul Choksi, and Vijay Mallya. She also said that Rs 792 crore recovered after disposal of Mallya's property has been deposited with the banks.
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