BUSINESS
China becomes world's biggest exporter of cars after overtaking Japan
China exported 1.07 million vehicles in the period, up 58 per cent compared to the first quarter of 2022, the BBC reported. At the same time Japan's vehicle exports stood at 954,185, after edging up 6 per cent from a year earlier. China's exports were boosted by demand for electric cars and sales to Russia.
India e-tailing market reached $60 bn in GMV in FY23
With 210 million annual shoppers, ads monetisation contributed $1.2 billion in revenue for Indian e-tailers in FY23, growing at 37 per cent year-on-year, according to Redseer Strategy Consultants.
Russia plans to export up to 60mn tonne of grain this year
According to a press statement issued by the Kremlin, Putin added on Thursday that by the end of the agricultural year 2022-2023 (from July 1, 2022 to June 30, 2023), Russian grain exports are expected to reach about 55 to 60 million tonne. The Russian President noted that despite the barriers in foreign trade.
Dwarka Expressway: Gadkari inspects country's first elevated highway
Gadkari was accompanied by Union Minister of State for Statistics and Programme Implementation and Planning (Independent Charge) and Gurugram MP Rao Inderjit Singh; Union Minister of State for Road Transport and Highways and Civil Aviation VK Singh; and Delhi Lieutenant Governor VK Saxena. Delhi MPs Parvesh Verma and Ramesh Vidhuri were also present.
ITC reports strong growth momentum across operating segments for quarter, year ended March 2023
Together with the interim dividend of Rs 6 per share paid on March 3, total dividend for the financial year ended March 31, 2023 amounts to Rs 15.50 per share (FY22: Rs 11.50 per share). The company said that strong growth momentum sustained across operating segments.
Medtronic to expand base, Warner Bros. to set up shop in Hyderabad
With this fresh investment, Medtronic's cumulative investment in Hyderabad becomes about half a billion USD, said state's industry minister K. T. Rama Rao on Thursday. The fresh investment was announced when the minister met the company's leadership team in New York.
BharatPe appoints Sandeep Indurkar as CBO-Banking & Alliances
"I look forward to strengthening the market for BharatSwipe and Speaker. Also, I look forward to fostering the right partnerships with relevant players in the financial services ecosystem, with the objective of making a larger impact across merchant businesses," Sandeep Indurkar said in a statement.
Wheels India to invest Rs 200 cr to ramp up production
Speaking to reporters, Managing Director Srivats Ram said the company will be investing about Rs 200 crore this year to ramp up wheel production for commercial vehicles, tractors, aluminium wheels and windmills machining segments.
Our food delivery business turns profitable, says Swiggy CEO
"Our teams are more in sync than ever with restaurant partners to improve their experience with Swiggy and create mutual wins. As a result, our restaurant net promoter score (NPS) has improved by over 100 per cent in the past 8 quarters," Sriharsha Majety mentioned. Last year, Swiggy acquired Dineout for around $120 million in an all-stock deal.
Course5 Intelligence raises $28 mn, plans to raise 55 mn to boost AI biz
360 ONE Asset's tech fund led the round by investing $28 million in Course5. The startup plans to raise a total of $55 million.
Course5 Intelligence said it is on track to cross $100 million revenue in the next fiscal and plans to launch its IPO in the next 18 months.
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