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India created over 80 million jobs from FY’18 to FY’22, says ministry of labour and employment

Quoting the data from the Periodic Labour Force Survey and the KLEMS data of the Reserve Bank of India, the ministry said on Monday that this translated to an average of over 20 million jobs or employment per year and demonstrates the effectiveness of various government initiatives aimed at boosting employment across sectors.

Over 1.8 million beedi, cine and non-coal mine workers benefited from Labour Welfare Scheme

Labour secretary Sumita Dawra chaired a review meeting of the Labour Welfare Scheme (LWS), being run by the ministry, on Friday for beedi, cine and non-coal mine workers to assess the achievement under the scheme in the last financial year. The centre is working on building a comprehensive database through the e-Shram portal to assess coverage under both central and state schemes for the beedi workers, non-coal mine and cine workers who are in the informal sector.

B2B fashion platform Zyod raises $18 million in funding

Zyod's equity funding round was led by venture firm RTP Global, while the debt capital came from Stride Ventures, Trifecta Capital and Alteria Capital. In April last year, Zyod had raised $3.5 million in a funding round led by Lightspeed Venture.

Bangladesh PM Sheikh Hasina in India, meets S Jaishankar, Indian CEOs

PM Hasina arrived in India earlier today on a State visit from June 21 to 22 at the invitation of Prime Minister Narendra Modi. Following the meeting, Jaishankar said that the Bangladesh PM's State visit highlights "close and abiding ties" between the two countries.

Salesforce, its partners expected to create 1.8 million new jobs in India by 2028: IDC report

Salesforce in India is set to create 1.8 million jobs and $88.6 billion in revenues by 2028 through AI-driven initiatives. The company's focus on public sector solutions and digital lending reflects its commitment to India's growth.

Skincare brand Foxtale raises $18 million from Panthera Growth, others

Direct-to-consumer (D2C) skincare brand Foxtale has raised nearly Rs 150 crore in the latest funding round. It will use the capital mainly for expanding into newer categories, founder Romita Mazumdar told us. The company will foray into body care category which includes products like lotions and body wash, she added.

Self-declaration on ads should be done by June 18: MIB to media

The Ministry of Information and Broadcasting meeting with advertising and media bodies ended in a stalemate over the implementation of the self-declaration certificate mandate by June 18, citing a Supreme Court order.

Marketing firm Maino.ai raises $1.8 million in funding led by India Quotient

A substantial portion of the funds will be allocated to building and scaling teams in key domains such as technology, product development, design, and strategy, said Rishabh Kumar, one of the three cofounders of Maino.ai.

Tether acquires $100 million stake in US-Listed bitcoin miner Bitdeer

The two firms entered into a subscription agreement for a private placement of 18.6 million Class A ordinary shares, Bitdeer said in a statement on Friday, which generated $100 million in gross proceeds. There was also a warrant to purchase up to five million in additional shares at $10 per share. The private placement closed on Thursday.

Sony eyeing M&A opportunities in India post termination of Zee deal: Tony Vinciquerra

Sony Pictures Entertainment (SPE) is in discussions for potential merger and acquisition deals in India following the collapse of its merger deal with Zee Entertainment. The deal between Sony Pictures Networks India (SPNI) and Zee couldn't go through due to regulatory issues and the deterioration of the Indian entertainment giant's financials. SPE's India arm held discussions with Viacom18 in 2020 to combine the two businesses.

IPL 2024 attracted 620 million viewers on JioCinema

The Indian Premier League (IPL) 2024 witnessed a 38% surge in audience reach on JioCinema, with 620 million viewers compared to 449 million in the previous season. JioCinema reported a 53% growth in video views, totaling 2,600 crore, and over 35,000 crore minutes of watch time.

Can you believe?5-foot-long crocodile found in belly of a snake

Examining the carcass of an 18-foot python revealed a shocking and stomach-churning discovery. A graphic viral video showcased the retrieval of a 5-foot-long alligator from the belly of the massive 18-foot-long Burmese python. This video quickly gained notoriety on the internet last year.

IPL 2024 audience reach on TV, digital platforms hits a record

IPL 2024 became the largest ever edition in terms of audience reach on TV and digital. The official broadcaster Star Sports recorded an audience reach of 546 million for 67 matches, with more data yet to come out.

MrBeast, world's most subscribed Youtuber, is giving away $5 million for playing game

MrBeast has announced a $5 million giveaway, announcing the "largest game show ever." Open to US citizens aged 18 and above with valid passports till 2025, the game may run from late June to September. With over four million views since the May 27 announcement, reactions vary from disappointment to hopeful anticipation as participants prepare for the event.

Reliance Industries seeks CCI approval for Viacom18-Star India merger

Reliance Industries, led by billionaire Mukesh Ambani, has sought approval from the Competition Commission of India (CCI) for an $8.5 billion merger between Viacom18 and Star India Pvt Ltd (SIPL). The merger aims to combine the entertainment businesses of Viacom18, part of Reliance Industries, with SIPL, a wholly-owned subsidiary of The Walt Disney Company (TWDC). Post-merger, SIPL will become a joint venture held by RIL, Viacom18, and TWDC subsidiaries.

US sends $275 mn of weapons and military aid to Ukraine

Last month, US lawmakers passed a long-delayed $61 billion military aid deal for Kyiv after months of squabbling in Congress as Ukrainian forces suffered setbacks on the battlefield due to ammunition and funding shortages.

Google’s $350-million Flipkart bet; Canva CEO interview

Ecommerce major Flipkart has closed its nearly $1-billion funding round with Google coming on board. More on this in today’s ETtech Top 5.

Over 1.8 million SIM cards to be deactivated to combat cyber thieves

NCLT sets the ball rolling on merger of Reliance's arm Viacom18 and Star India

The merger scheme has two stages: the transfer of Viacom18's TV and streaming assets to Digital18 and the demerger and vesting of these assets from Digital18 to Star India. As consideration for the scheme, Viacom18 will transfer streaming platform JioCinema to Digital18, which will pay the company a consideration of Rs 24,186 crore through an allotment of 24.18 billion fully paid-up shares of Rs 10 each.

Karnataka: Congress slams Centre over reports of 18 million tonnes rice wasted amidst Anna Bhagya shortfall

The State Congress criticizes the Central Government for FCI's plan to dispose of 18 million tonnes of rice meant for the Anna Bhagya scheme in Karnataka, impacting 12.8 million low-income families under Siddaramaiah's government. The central government asked the corporation to sell the grain on the open market.

Data collaboration software firm Atlan raises $105 million; valuation nearly doubles to $750 million

Funding led by Singapore's GIC and US-based Meritech Capital values startup at $750 million, up from $450 million in March 2022 when it last raised funds

Star-Viacom18 likely to post $200 million loss on sports, streaming: Report

The Reliance Industries-Walt Disney Company deal aims to merge Viacom18 and Star India, creating a media giant with profitable entertainment, but lossmaking sports and streaming businesses. The proposed merged entity's entertainment business is projected to generate $600 million in Ebitda on $1.3 billion revenue.

Formal job creation under ESIC up 18.2% in December to 1.88 million

As per the provisional payroll data, released by the ministry of labour and employment on Thursday, new employees added to ESIC in December 2023 stood at 1.88 million as against 1.59 million in November while the new 23,347 new establishments were added to it in the month under consideration.