Monday, February 3

Tag: Companies

IFSCA may allow Indian listed firms to launch QIP, tax sops for listing
26Dec By adminNo Comments
Business

IFSCA may allow Indian listed firms to launch QIP, tax sops for listing

Listed Indian companies could be allowed to launch qualified institutional placement (QIP) of shares through exchanges at International Financial Service Centres (IFSCs) using an abridged prospectus, according to a working group report.   The working group, comprising representatives from the market regulator, the IFSC Authority (Ifsca), ministry officials, bankers, and exchange officials, submitted its report on direct listing in IFSC exchanges last week.   “International exchanges at the IFSC can act as a driver to attract foreign capital into Indian companies through QIP issuances to select large institutional investors, particularly considering the benefits in terms of transactions in foreign currency, exemptions to eligible foreign investors ...
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Paytm lays off over 1,000 employees as part of cost-cutting measures
25Dec By adminNo Comments
Business

Paytm lays off over 1,000 employees as part of cost-cutting measures

Paytm's parent company, One 97 Communications, has terminated over 1,000 employees from various departments as part of a strategic move to streamline its businesses and reduce costs, according to a report by The Economic Times (ET). The layoffs, extending across the last few months, mark one of the most significant workforce reductions in an Indian tech firm this year. The layoffs, impacting more than 10 per cent of Paytm's entire workforce, follow recent developments such as the withdrawal of small-ticket consumer lending and the cessation of its "buy now pay later" lending segment on the UPI platform. The decision to cut jobs is aligned with Paytm's broader efforts to realign its businesses. The fintech company anticipates further cost-cutting measures in the upcoming mo...
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NCLAT refuses to stay Zee-Sony merger, case now to be heard in January
15Dec By adminNo Comments
Business

NCLAT refuses to stay Zee-Sony merger, case now to be heard in January

IDBI Bank and Axis Finance had moved NCLAT against the merger The National Company Law Appellate Tribunal (NCLAT) on December 15 said it will not grant a stay on the merger of Culver Max Entertainment, formerly Sony Pictures Networks India and Zee Entertainment Enterprises Ltd (ZEEL). According to a report by Moneycontrol, the case will now be heard on January 8. IDBI Bank and Axis Finance had challenged the August 10, 2023, order of the Mumbai bench of the National Company Law Tribunal (NCLT), which approved the merger, paving the way for the creation of the country's largest media entity. While approving the merger, the NCLT, in its order, dismissed some applications moved by financial institutions opposing the move, including those of IDBI Trusteeship, IDBI Bank, Ax...
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Elon Musk wants to colonize Mars. Is that profitable?
13Dec By adminNo Comments
Technology

Elon Musk wants to colonize Mars. Is that profitable?

Austin, TX CNN Business  —  Elon Musk has spent nearly two decades rallying SpaceX fans around his goal of colonizing Mars, something world governments aren’t currently attempting — in part because of the unfathomable price tag such a mission will entail. Musk, the company’s CEO and chief engineer, refers to his interplanetary ambitions more like a sci-fi protagonist with a moral calling than an entrepreneur with a disruptive business plan. “If there’s something terrible that happens on Earth, either made by humans or natural, we want to have, like, life insurance for life as a whole,” Musk said during a virtual Mars conference on Aug. 31. “Then, there’s the kind of excitement and adventure.” ...
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Chuck Schumer Doesn’t Know How Gas Prices Work
24Nov By adminNo Comments
World

Chuck Schumer Doesn’t Know How Gas Prices Work

Senate Majority Leader Chuck Schumer and 22 Democratic senators recently wrote to Federal Trade Commission Chairman Lina Khan calling for an investigation into the proposed mergers between Exxon Mobil and Pioneer Natural Resources and Chevron and Hess. The letter argues that these mergers will enable “anticompetitive coordination in the industry” and raise U.S. gasoline prices. The letter, however, is based on dubious economic and legal logic and spurious historical analysis. It’s a mischaracterization of how the oil-and-gas industry operates. A fair assessment of the proposed mergers and the fossil-fuel market doesn’t reveal a firm legal and economic basis to initiate antitrust enforcement proceedings against these deals. If the senators really want a competitive energy market that suppl...
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Sony’s PlayStation Access controller offers a new social lifeline for gamers with disabilities
26Oct By adminNo Comments
Technology

Sony’s PlayStation Access controller offers a new social lifeline for gamers with disabilities

CNN  —  Grant Stoner said that he has loved playing video games his entire life, and that his earliest memory is of playing Super Nintendo in his parents’ bedroom at roughly 3 years old. “Gaming, for me, has always been a social activity,” Stoner, a Pittsburgh native who has spinal muscular atrophy type 2, a neuromuscular disorder, told CNN. “Because I’ve never really, physically, been able to participate in schoolyard events or sporting events or what have you, so I would bond with family and classmates through gaming.” For people with disabilities, Stoner said gaming has served as a lifeline for forming friendships and community. But for years, he adds, the technology underpinning the gaming secto...
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Apple announces ‘scary fast’ October event
25Oct By adminNo Comments
Technology

Apple announces ‘scary fast’ October event

CNN  —  Apple announced its second product event of the season, a month after introducing its new iPhone 15 lineup. New iMacs are likely. The company sent invitations to members of the media for a scheduled keynote on Monday, October 30 at 8:00 p.m. ET/5:00 p.m. PT, later than it typically kicks off events. It will be accessible via livestream only; Apple usually hosts its product launches both in person and online. The tagline for the event – “scary fast” – is an apparent nod to the likely unveiling of its next-generation silicon chip, M3, as well as Halloween. The company is expected to show off new iMac computers boasting the new powerful chipset in a move that should also boost Mac sales. Mac ...
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Fake placenames with anti-Israel messages flood Google Maps’ depiction of the Rafah border crossing between Gaza and Egypt
25Oct By adminNo Comments
Technology

Fake placenames with anti-Israel messages flood Google Maps’ depiction of the Rafah border crossing between Gaza and Egypt

CNN  —  When Google Maps users navigated to the Rafah border crossing between Gaza and Egypt on Tuesday, they might have seen placenames that included, “F**k Israel,” and “May god curse Israel’s Jerusalem.” Cyber activists appeared to have targeted the service to post anti-Israel messages, likely by taking advantage of a feature on Google Maps that allows people to create and contribute information about businesses and landmarks that appear on the service. CNN found dozens of anti-Israel placenames created in Arabic and English, including one in Arabic that read, “Palestine is free, may god forgive us.” There is no evidence that any Google systems were breached or compromised as part of ...
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