BUSINESS
Outgoing BharatPe CEO to start VC fund, perform 40 lakh steps in 2023
Sameer, who will transition from the role of CEO to Strategic Advisor at BharatPe, effective from January 7, will "set up the fund I have been meaning to for the last couple of years". In a LinkedIn post, Sameer said that this will be a year of radical personal changes.
SBI, ICICI Bank & HDFC Bank continue to be systematically important banks: RB
SIBs are those financial institutions which are too big to fail. "SBI, ICICI Bank and HDFC Bank continue to be identified as domestic systemically important banks (D-SIBs), under the same bucketing structure as in the 2021 list of D-SIBs," an RBI circular issued on Monday said. RBI had announced SBI and ICICI Bank as D-SIBs in 2015 and 2016.
FDI in startups needs tax exemption: Wadhwani Foundation
"Since Indian start-ups are increasingly going global, the government should look at tax exemptions in foreign direct investments and maintain a sharp focus on startup infrastructure development," said Foundation's COO (India & South-East Asia) Sanjay Shah in an exclusive interaction with IANS. Going by the number of startups and unicorns, only the US and China are ahead of India's startup ecosystem.
BharatPe CEO Suhail Sameer now strategic advisor as firm looks for new head
Current CFO Nalin Negi has been appointed as an interim CEO to partner with senior executives to strengthen the company's business, as the Board is actively searching for the new CEO. "On behalf of the Board, we would like to thank Sameer for the tremendous contribution he made in steering BharatPe into a leadership position as a fintech player in India and helping us ride through various challenges during this journey," Rajnish Kumar, Chairman, BharatPe Board, said in a statement.
Tesla falls short of 50% growth goal in 2022 amid Musk's Twitter distraction
The automaker needed to sell 495,760 vehicles in its fourth quarter (Q4) to have achieved the 50 per cent growth guidance. In the fourth quarter, Tesla produced over 439,000 vehicles and delivered over 405,000 vehicles. In 2022, vehicle deliveries grew 40 per cent (year-on-year) to 1.31 million while production grew 47 per cent (on-year) to 1.37 million.
Coal Ministry to enhance first mile connectivity projects
These projects will be implemented by 2026-27. The ministry has already undertaken 55 FMC projects of 526 million tonnes per annum capacity with an investment of Rs 18,000 crore. Out of these, eight projects of 95.5 million tonnes per annum capacity have been commissioned and the remaining will be commissioned by 2025.
Zomato Co-founder Gunjan Patidar quits in another high-profile exit
This is the second high-profile exit at the company. In November last year, Zomato co-founder Mohit Gupta had moved on after about five years at the food aggregator. In a regulatory filing, Zomato said that Patidar was one of the first few employees of Zomato and built the core tech systems for the company.
Kia logged 47.7% growth in 2022
Kia India registered 15,184 unit sales in the domestic market last month. In the domestic market, the Seltos logged sales of 101,569 units in CY2022, the Sonet 86,251 units, the Carens 62,756 units, the Carnival 3,550 units, and the EV6 430 units last year.
Petrol export by OMCs rose 142% between 2020-21 and 2021-22
According to official figures, the OMCs exported 668 thousand metric tonnes (TMT) of petrol in 2021-22, which was 142 per cent more than 276 TMT of petrol exported by the country in 2020-21. In 2020-21, the OMCs exported 1,985 TMT of diesel, while in 2021-22, it exported 1,994 TMT of diesel, a growth of less than 1 per cent over the previous year.
Markets welcome 2023 on a positive note
The absence of global cues, strong macros and expectations of healthy corporate earnings provided the support to domestic equites, said Siddhartha Khemka, its Head - Retail Research. Nifty opened higher and remained in positive territory throughout the day to close with gains of 92 points at 18,197 levels. Majority sectors ended in green.
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