Monday, November 25
Startups must innovate for sustainable success as technology evolves rapidly, rendering current business models obsolete. Blinkit, a quick commerce venture, could surpass Zomato within a year, according to Goyal. The food delivery giant, based in Gurgaon, acquired Blinkit (formerly Grofers) for Rs 4,447 crore in 2022, aiming to establish a presence in India's burgeoning instant delivery market.
Millionaire grandchildren of Infosys founders! Infosys founder NR Narayana Murthy gifted his four-month-old grandson shares worth over Rs 240 crore, making him one of India's youngest millionaires. The transfer of 15,00,000 Infosys shares reduced Murthy's stake from 0.40% to 0.36%. But di you know that other grandchildren of Infosys co-founders also hold stakes in the company.
The US Federal Reserve is expected to maintain its key lending rate unchanged while considering potential rate cuts to combat inflation. Market experts predict a June rate cut, aligning with the Fed's cautious approach towards achieving inflation goals.
Goa-based regional airline FLY91, led by MD and CEO Manoj Chacko, is launching commercial flights on March 18 with a team of 350 staff. The airline aims to achieve break-even in two years, expanding its fleet and receiving Viability Gap Funding under UDAN. FLY91 focuses on profitability and sustainability in its operations.
India's forex reserves, totaling USD 636.095 billion, saw a surge from USD 625.626 billion in the previous week. The kitty defended the rupee amid global pressures, with notable increases in various reserve components.
An Australian computer scientist who claims he invented bitcoin is not "Satoshi Nakamoto", the pseudonymous inventor of the cryptocurrency, a judge at London's High Court ruled on Thursday. The Crypto Open Patent Alliance (COPA) took Wright to court to stop him suing bitcoin developers, asking for a ruling that Wright was not Satoshi.
Chinese wheat importers have cancelled or postponed imports of about 1 million metric tons of Australian wheat cargoes. The US government reported cancellation of more than 500,000 metric tons of US wheat exports to China. Chinese buyers are moving the shipping time from the first quarter to the second quarter, third quarter. Singapore-based trader sells Australian wheat to Asia.
