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A goods and services tax (GST) demand order totalling INR 3,69,80,242 for the period of April 2019 to March 2020 has been sent to Eternal, the parent company of Zomato and Blinkit, together with interest and penalties. The Additional Commissioner of State Tax (Appeals), West Bengal, issued
The massive IT company Infosys revealed on 7 December that it is collaborating with Amazon Web Services (AWS) to hasten the adoption of generative artificial intelligence (GenAI) in businesses. The collaboration focuses on merging Amazon Q Developer, AWS's generative AI-powered assistant, and Infosys Topaz, an AI-first suite of
According to a senior company official, global technology giant Lenovo hopes to treble its business in India over the next three years, relying on a booming Motorola smartphone market and "high double-digit" growth in its infrastructure and services verticals. Amar Babu, president of Lenovo Asia Pacific, thinks that
Jemimah Rodrigues, a cricket player who gained fame last year after helping the Indian Women's Cricket Team win its first ICC Women's World Cup, just signed a brand contract, marking a significant accomplishment for her. The cricket player has partnered with Tvarra, a helmet firm that
According to reports, Uncademy has retracted its controversial proposal to shorten the ESOP exercise window from ten years to just thirty days. The edtech business told former workers that it was delaying the changes to the ESOP policy, according to an internal email that Economic Times was able to see.
In an effort to maintain its position as the industry leader in infrastructure for massive AI systems, Nvidia has introduced its Rubin platform, a new generation of AI computing architecture based on six specially created chips. Rubin is intended to operate as a single, tightly integrated AI supercomputer, combining processing,
After the refiner resumed some purchases for domestic production, at least three tankers carrying Russian crude are pointing to Reliance Industries Ltd's (RIL) refinery on the west coast of India as their next stop. According to data analytics company Kpler (cited by Bloomberg), the ships carrying about 2.
In order to enter the specialised ethane shipping market, ONGC would acquire a 50% share in two joint ventures with Mitsui OSK Lines (MOL) of Japan. Japan. ONGC and MOL will hold equal interest in the joint ventures, which will each own a very large ethane carrier (VLEC). According to
On January 5, Swiggy announced the debut of EatRight, a new category that aims to provide health-conscious customers in over 50 cities with a unified selection of foods that are high in protein, low in calories, and free of added sugar. With Chandigarh, Guwahati, Ludhiana, and Bhubaneswar leading the way,
Olympic gold medallist Neeraj Chopra of India has announced the opening of Vel Sports, his own athlete management company. JSW Sports said in a formal statement that the athlete's formal association is over and that this "begins a new chapter" for the javelin superstar. Neeraj Chopra,
According to The Economic Times, the Centre has cautioned social media platform X about AI-generated pornographic material, threatening to revoke its "safe harbour" status under Indian law if it disregards takedown orders. Notably, X previously lost his legal immunity due to his failure to follow Indian regulations. Online
According to The Economic Times, Tata Sons has started considering a potential leadership transition at its airline division; therefore, Air India might soon have a new CEO. According to the report, the group has discussed its top management structure with senior executives from major international airlines. According to those cited
Global broking firm Jefferies has stated that ONGC may be about to unlock $500 million in long-pending dividends from its Venezuelan upstream project, pointing to a possible boost to the state-run explorer's balance sheet and sentiment should a US-led restructuring of the Latin American country's oil
Inox Clean Energy recently acquired SunSource Energy's solar assets as part of a massive wave of mergers and acquisitions (M&A) in the Indian renewable energy sector. The company's pre-IPO fundraising efforts, internal accruals, and promoter capital would all be used to finance the acquisition.
According to Deepinder Goyal, founder and CEO of Eternal, the parent company of Zomato and fast commerce platform Blinkit, the food delivery platform Zomato fires about 5,000 gig workers every month due to fraud cases, while between 1.5 and 2 lakh workers quit the platform voluntarily. Goyal claimed
In Venezuela, Starlink has provided free internet service till February 3. The statement follows the rapid nighttime military action by the United States against Venezuela on January 3, which resulted in the capture of President Nicolas Maduro and his wife, First Lady Cilia Flores. "Starlink is providing free broadband
In its most recent annual report, the regulator, the Insurance Regulatory and Development Authority of India (IRDAI), stated that mis-selling is a serious issue in the insurance industry and that insurers must carry out a root cause analysis to determine the underlying issues. According to the report, the total number
The Telangana delivery workers' union has reacted to Zomato CEO Deepinder Goyal's support of the company's gig model by calling the existing working conditions "not decent work". This has intensified the discussion around compensation and benefits in India's rapidly expanding quick
With the registration of five significant firms as anchor vendors under the government's Electronics Components Manufacturing Scheme (ECMS), Apple has taken a clear lead in India's efforts to develop a comprehensive electronics components ecosystem. According to Business Standard, the companies, which are a combination of huge
Deepinder Goyal, the founder and CEO of Zomato, issued a thorough five-point statement on X to defend the company's gig work model. He described how delivery partners are compensated, why riders are not put under strain by the 10-minute delivery guarantee, and how flexible schedules and welfare benefits
According to two merchant bankers on 1 January, Adani Enterprises would enter the bond markets the following week with the goal of raising INR 1,000 crore rupees ($111.16 million) through a public bond issuance. According to the bankers, the anticipated financing also includes INR 500 crore in a
According to a report by Bloomberg Law, Cognizant Technology Solutions Corp. is facing multiple proposed class action lawsuits in the US following a data breach at its healthcare division, TriZetto Provider Solutions. This week, three lawsuits were submitted to US district courts in Missouri and New Jersey. The allegations claim
Vodafone Idea, an Indian telecom provider, announced on 1 January that it had been hit with a penalty of 6.38 billion rupees, or around $71 million, for allegedly "short payment" of taxes. A day after the Indian government gave the indebted company a partial suspension on adjusted
In a statement released on January 1, Sapphire Foods India Limited, the operator of KFC and Pizza Hut, stated that it would merge with Devyani International Limited, which also runs the QSR franchises in the nation. As consumers cut back on eating out and ordering in due to rising living