BUSINESS
Crypto funding drops for 5th straight quarter amid regulatory checks
It was the fifth consecutive quarter when crypto funding nosedived, according to a report in TechCrunch. The $2.34 billion were raised across 382 deals, according to PitchBook data. In comparison, the crypto industry had garnered $12.14 billion in the first quarter of 2022.
India's total addressable startup market could only be 10 cr: Zerodha CEO
Addressing the gathering at the startup conclave organised by Money Control in Bengaluru, both the founders stressed that investors and founders may have overestimated the potential size of the Indian market. “The actual monetisable market size is a subset of 100 million. India is a developing country and evolving very fast, but as of now it is a subset of 100 million," said Kamath.
86% Indian employees feel a strong sense of belonging in current workplace: ISS(14-year low
The report from ISS, a leading workplace experience and facility management company, is based on a global survey that sheds light on the state of the Indian workforce in terms of their sense of belonging and engagement.
India's private consumption to cross $2.4 trillion amid increased prosperity
Indicators across emerging sectors, such as credit card spends, air travel and sales of vehicles, show signs of recovery in Q1 FY24 (April-June period), according to the report by Redseer Strategy Consultants.
ED arrests businessman Dinesh Arora in Delhi excise policy case
The ED, however, did not comment officially on the arrest but sources have confirmed the development. The ED has claimed in its previous chargesheet that Arora gave Rs 82 lakh to Sisodia as the collection of party funds for the assembly elections in Delhi.
Nifty up 865 points in last 8 trading sessions scaling new highs
India equities continued their dream run, with key indices consistently touching new highs. Nifty surpassed the 19,500 zone intraday before closing with gains of 99 points (+0.5 pert cent) at 19,497 levels. On the sectoral front, realty, oil & gas, auto and healthcare were the top gainers, while IT, financials and FMCG witnessed profit booking.
Dollar gain takes shine off gold
"The recent decline in gold prices (5.4 per cent from an all-time high) can be attributed to a slight reduction in global recession concerns and the strengthening of the US dollar. Additionally, with the possibility of an interest rate hike in the US, this trend may persist," Anil R, a Research Analyst, said.
India gears up to reach scale in making original electronic products: MoS IT
Addressing a 'Digital India Dialogues' session on the recently-revised production-linked incentive (PLI) scheme for IT hardware in Bengaluru, the minister said that our ambitions are very clear -- a $300 billion Electronics industry and the $1 trillion digital economy by 2026.
SriLankan Airlines stakes up for grabs: Who would be interested in 49% stake?
Minister of Civil Aviation Nimal Siripala de Silva has confirmed that SriLankan Airlines will maintain a majority stake of 51 per cent in this agreement. In the current status quo, the technical crew situation at SriLankan Airlines has been challenging, with 57 pilots resigning since early 2021, including some early retirements. This trend is concerning, and further departures may occur unless an investor steps in to support SriLankan Ground Handling and Catering, which are vital components.
New retail investors jumping on to market bandwagon normally happens at the peak of rally
New retail investors jumping on to the market bandwagon normally happens at the peak of a rally. This is a sign for caution, he said. The FPI liquidity driven rally is showing signs of losing steam. Some of the leading indicators like credit growth for Q1 from banking majors like the merged entity HDFC Bank indicate a possible slowdown in the economy, he said.
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