BUSINESS
Oracle paying $23 mn fine for bribing officials in India, Turkey, UAE: US SEC
The US SEC said in a statement that Oracle Corporation violated provisions of the FCPA "when subsidiaries in Turkey, the UAE and India created and used slush funds to bribe foreign officials in return for business between 2016 and 2019". The SEC previously sanctioned Oracle in connection with the creation of slush funds.
Cred, upGrad, Groww top 3 startups in India: LinkedIn
Higher online education platform upGrad, run by Ronnie Screwvala, was at the second position and Lalit Keshre's homegrown online investment platform Groww was third on the annual list. Satya Nadella, Chairman and CEO of Microsoft, recently joined Groww as an investor and advisor.
This is why Byju Raveendran's last 6 months were toughest ever, reveals wife
In a LinkedIn post, she said that Raveendran was travelling around the world twice, sometimes thrice, a week to be by his father's side as much as he could. "These two teachers fought this tough battle the same way they had fought all the other challenges - together, with positivity and perseverance. Byju is relaxed today because a critical surgery last week went well," Gokulnath posted.
Torrent Pharmaceuticals Ltd to acquire Curatio Health Care (I) Private Ltd for Rs 2000 crore
In a regulatory filing, Torrent Pharmaceuticals said that the Rs 224 crore Curatio has a strong presence in the cosmetic dermatology segment with a portfolio of over 50 brands, marketed in India. The purchase consideration will be a mix of Rs 115 crore cash and cash equivalents in the acquired business indicating an Enterprise Value of Rs 1,885 crore.
Estimated employment increases from 3.14 cr in Q3 to 3.18 cr in Q4
While releasing the Quarterly Report, Union Labour & Employment Minister Bhupender Yadav said that employment is showing an increasing trend in the selected sectors of the economy. The estimated employment has increased from 3.14 crore of the third quarter (September-December, 2021) to 3.18 crore of fourth quarter (January-March, 2022).
Razorpay acquires PoshVine to foray into loyalty, rewards management space
"With an increasing percentage of customer spends moving online, there is a massive opportunity to help banks and merchants engage with their customers across the lifecycle using payment-linked loyalty including rewards, offers, and redemption of loyalty points," said Shashank Kumar, MD and Co-founder of Razorpay.
India sees Rs 24,000 cr worth online festive sales in 4 days, mobiles lead
"We had earlier projected a GMV of $5.9 billion (over Rs 41,000 crore) for the first week of festive sales and as expected, we are on track to achieve this figure," said Sanjay Kothari, Associate Partner, Redseer Strategy Consultants. Nearly 1,100 mobile phones were sold each minute, with a total of Rs 11,000 crore of mobiles sold on large e-commerce players.
Qatar Airways and British Airways complete expansion of airline joint business
Customers will now benefit from even greater choices in prices and schedules with options for direct flights as well as connections via hubs in London and Doha. This is all part of Qatar Airways and British Airways' plan to "Move Further Together" by enhancing the joint network and providing passengers with the best of both airlines.
Equities end marginally lower, extend losses for fifth straight day
At close, Sensex ended 37.70 points or 0.07 per cent down at 57,107.52, while Nifty closed 8.90 points or 0.05 per cent down at 17,007.40.About 1,882 shares advanced, 1,522 shares declined while 136 shares remained unchanged on Tuesday. Tata Steel, Titan Company, State Bank of India, Kotak Mahindra Bank and ICICI Bank were major losers on the Sensex.
Rupee ends marginally up, but remains near record low
The rupee ended at 81.58 as against 81.62 at close of the previous trading session. On Monday, the rupee ended record low for the third straight session on risk-averse sentiments and unprecedented strength in the greenback following Fed tightening and recession worries.
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