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As it negotiates with app-based service providers to ascertain the percentage of fees that the platforms must pay, the Karnataka state government intends to operationalise the gig workers' welfare fund in August. With a request to issue an ordinance, the government has forwarded to Raj Bhavan the Karnataka Platform-based
Reliance Industries, controlled by Mukesh Ambani, the richest man in India, has reportedly obtained a $2.98 billion loan. In more than a year, this is the biggest deal of its kind for an Indian borrower. According to cited sources, a further 55 banks have signed a loan deal. As
One hundred workers in Amazon's Devices and Services group have reportedly been let go. According to the corporation, the jobs were a part of its routine business assessment and only made up a small portion of the unit's total. Popular hardware products, including Fire TV devices,
India's sixth semiconductor plant, a INR 3,706 crore facility that would be established in Jewar, Uttar Pradesh, through a joint venture between HCL and Foxconn, was authorised by the Union Cabinet on 14 May. The facility will begin producing display driver chips for PCs, laptops, cars, and
Zepto, a leader in quick commerce, has introduced Atom, a new data analytics tool for consumer businesses that are listed on the site. Aadit Palicha, the CEO and co-founder of Zepto, stated in a video on X that the subscription-based service will allow marketers to learn more about behavioural data,
Following Gensol Engineering's default on a loan of INR 510 crore, the state-run financier Indian Renewable Energy Development Agency (Ireda) filed a petition against the business under Section 7 of the Insolvency and Bankruptcy Code, Ireda said in a stock exchange filing on 14 May. The value of
After a turbulent year that left the Japanese automaker struggling to turn itself around, Nissan Motor announced massive fresh cost cutbacks on 13 May, announcing the closure of seven sites and the elimination of 11,000 further positions. Nissan nearly lost its profit in the most recent fiscal year after
With over a billion users across its suite of apps, Facebook parent company Meta announced on May 13 that it would be launching its first hardware push in India on May 19 with the Ray-Ban Meta smart glasses. The line will be available on Ray-Ban.com and at top optical
Amazon Web Services (AWS) and HUMAIN, the recently established Saudi business in charge of advancing AI innovation in the Kingdom and around the world, on 13 May revealed their intentions to invest more than $5 billion in a strategic cooperation to establish a ground-breaking "AI Zone" in the
According to various media reports, India's central bank is investigating some digital wallets linked to electric vehicle companies after the abrupt demise of the nation's biggest all-EV taxi service prevented customers from accessing funds linked to their accounts. The issues encountered by customers of the digital
The deal represents a resurgence of the two companies' relationship over six years after FedEx declared it would not extend its domestic delivery contracts with Amazon for Ground and Express. FedEx stated at the time that it wished to concentrate on the larger e-commerce industry. Although e-commerce is still
Over 6,000 workers from all levels, teams, and regions will be affected by Microsoft's announcement that it will lay off 3% of its global workforce. The goal of the layoffs at the Redmond giant, which had 228,000 employees as of late June, is to simplify processes
Walmart-owned Flipkart has been going through a significant leadership transition amid ambitions for a public listing. According to reports, at least four executives have resigned from their posts, including three other VPs and a senior vice president (SVP). Anurag Singhvi, VP and head of analytics; Prajakta Kanaglekar, VP and head
According to reports, Flipkart, the massive e-commerce company owned by Walmart, intends to restrict the growth of its Flipkart Minutes rapid commerce division to the top six to eight cities in order to minimise capital burn. The top eight cities account for over 90% of quick commerce volumes, with Bengaluru,
In an effort to automate internal procedures and reduce repetitive work, IBM has started substituting AI agents for some of its HR (human resource) employees. As the internet giant increasingly relies on AI-powered solutions, Arvind Krishna, the company's CEO, recently claimed that "a couple hundred" HR
Due to a network capacity shortage brought on by cybersecurity exercises held in the wake of the India-Pakistan conflict, fintech giant PhonePe had an outage on 12 May when it came to processing Unified Payments Interface (UPI) transactions. For more than an hour on the same day, users and industry
Almost a month after market regulator SEBI prohibited them from holding important roles within the firm, Gensol Engineering Ltd said on May 12 that Anmol Singh Jaggi, the managing director, and Puneet Singh Jaggi, the full-time director, had resigned. In his letter of resignation, Anmol Jaggi stated that he would
According to a media report, Motilal Oswal and Raamdeo Agrawal, co-founders of Motilal Oswal Financial Services, have contributed a combined $100 million to Zepto, a startup in the fast commerce space. The company, Motilal Oswal, is getting ready to spearhead a $250 million secondary share offering in Zepto in addition
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Justdial has developed into a one-stop shop for many consumers looking for information about different goods and services in the technologically advanced world of today. Justdial connects millions of people with nearby companies through its huge database, which serves a wide range of industries. Justdial business plan focuses on expanding
According to reports, EV powerhouse Tesla is getting closer to entering India by establishing an assembly plant in Satara, Maharashtra. According to a media report, the Elon Musk-led company plans to establish a completely knocked down (CKD) plant to assist in controlling the import duties on its components. CKDs are
In response to recent worries about layoffs in its business process outsourcing (BPO) segment, Hexaware Technologies clarified that the cuts were not related to artificial intelligence (AI), as some media reports had claimed. The corporation clarified that the seasonality of its business activities was the main cause of the workforce
In an attempt to restructure the company, Panasonic Holdings announced on May 9 that it will layoff 10,000 employees and anticipate spending 130 billion yen ($896.06 million) this fiscal year. According to a statement, the electronics company plans to lay off employees mostly during the current fiscal year,
At its Hosur facility, Tata Electronics is dramatically increasing the volume of enclosures it produces for Apple's iPhones. According to a media report, Tata Electronics wants to triple its current capacity of about 50,000 enclosures. The ramp-up will probably occur before Apple's annual product introductions,
According to reports, the Securities and Exchange Board of India (SEBI) has suggested giving investors more freedom to co-invest with alternative investment funds (AIFs). According to a media report, the regulatory board recommended lifting the ban on AIF investment managers offering advisory services for listed shares. To put it simply,