BUSINESS
VC firm BlackSoil raises Rs 250 cr across debt products
Some of BlackSoil's current investments are in unicorns and other platforms like Upstox, Slice, MobiKwik, Udaan, Infra.Market, Zetwerk, OYO Rooms, Spinny, Purplle, Curefoods and Blu-Smart, among others. There are over 20 family offices/HNIs who have invested in Blacksoil's various debt products. "The onward lending we will be doing with these funds are via products with amortising and fixed pay-out structures which significantly reduce business and time risk, and safeguard the investment," said Ankur Bansal, Director and Co-Founder, BlackSoil.
Amazon to invest over 1 billion euros to electrify delivery fleet in Europe
The company said it is using thousands of zero-emission vehicles across its European operations, and this investment will add thousands more, accelerating Amazon's progress toward becoming net-zero carbon by 2040 -- 10 years ahead of the Paris Agreement.
CNN shuts NFT project, users accuse it of crypto 'rug pull'
The shocked users accused CNN of a "rug pull", a term used when crypto developers abandon a project and run away with investors' funds. The media giant launched 'Vault by CNN' in 2021 as a marketplace for its own NFTs that would "offer collectors the opportunity to own a piece of history."
Gaming platform WinZO reaches 100 million users, taps small-town India
WinZO's user base comprises 90 per cent of the users from tier 2 to 5 cities and rural areas, 20 per cent being women. According to the platform, 25 per cent users are making their first-ever digital payment on the vernacular social platform.
UK brings forward debt-cutting plan to Oct 31
The announcement of the government's medium-term fiscal plan, together with an economic and fiscal forecast by the independent fiscal watchdog Office for Budget Responsibility (OBR), had originally been scheduled for November 23, but the government has faced huge pressure to act faster to reassure markets, reports Xinhua news agency.
Global PC shipments decline another 15% in Q3: Report
According to IDC, cooling demand and uneven supply have contributed to a year-over-year contraction of 15.0 per cent. However, shipment volumes remain well above pre-pandemic levels when PC volumes were driven mainly by commercial refreshes due to the looming end of support for Windows 7.
Inflation in India quite low, compared to leading economies: PM Modi
He appreciated the demolition work carried out along the coast by the Gujarat government. The Prime Minister also dedicated the Saurashtra Narmada Avtaran irrigation link 7, which carries Narmada water for drinking. He recalled the services of the erstwhile Jadeja dynasty to society and the country, noting how then ruler Digvijaysinh Jadeja gave shelter to Polish children during World War 2.
Mustard oil producers urge FM Nirmala Sitharaman to remove stock limit on oilseeds
A representation in this regard was given to Nirmala Sitharaman by the association on Monday, which said that farmers have toiled hard to increase the production of oilseeds following which the import of edible oil came down to 135 lakh tonnes from 150 lakh tonnes.
India's space launch segment to propel to $13 bn by 2025: Report
"I'm glad our Prime Minister Narendra Modi encouraged us to go ahead as space domain became open for the public-private participation, also preparing players and the outcome is that the sector is today attracting increasing number of startups," Union Earth Sciences Minister, Dr Jitendra Singh, said.
SIP contribution touched all-time high of Rs 12,976 crore in Sep: AMFI data
Meanwhile net inflows into equity mutual funds jumped to Rs 14,099.73 crore in September from Rs 6,120 crore in the previous month, mainly due to positive flows across fund categories. Open-ended debt mutual funds witnessed net outflows of Rs 65,372.40 crore in September, primarily led by liquid and money market funds.
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