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NIIT appoints Pankaj Jathar as CEO
Jathar has experience in consumer-focused businesses, spanning e-commerce, startups and D2C ventures. He will be responsible for capitalising on new opportunities through the integration of GenAI to drive innovation and growth, the company said in a statement.
Starlink, Project Kuiper requests for landing rights under process: IN-SPACe chairman
Both companies have yet to get permits to provide satcom services in India — their applications are pending before the Department of Telecommunications (DoT) — but Goenka said this would not delay the grant of landing rights to them by the space sector regulator.
Consumer firms plan IPO; startups on poll mandate
India's public market will see about a dozen consumer companies make a debut on the bourses. More on this in today's ETtech Top 5.
BIS certification must for sale of used imported electronic products: DGFT
In the Directorate General of Foreign Trade (DGFT) notification on May 20, the Centre has specified that import of second-hand products, whether or not refurbished, repaired or reconditioned, notified under the Electronics and Information Technology Goods (Requirement of Compulsory Registration) Order, 2021, is prohibited unless they are registered with BIS and comply with the labelling requirement published by BIS.
Traditional financial services catch the super app bug
Financial services companies such as Aditya Birla Capital, Angel One and Muthoot Fincorp are building superapps -- a one-stop applications for all their customers' needs. This development comes as large groups such as Reliance Industries and Tata Group have already rolled out such superapps for everything from shopping to payments and credit under one roof.
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Agritech startup Superplum raises $15 million from investors to expand fresh fruits business
Superplum has built a direct-from-farm produce supply chain, using proprietary technology and cold-chain infrastructure to fundamentally improve how produce is grown and brought to market.
Anand Mahindra offers job to 13-year-old girl who used Amazon Alexa to scare off monkeys in Uttar Pradesh
Nikita uses Alexa to scare monkeys, impressing Anand Mahindra who offers her a future at MahindraRise. Her family expresses surprise at the recognition. Nikita eagerly anticipates her career with Alexa's aid.
Elon Musk loses world’s richest person title to Jeff Bezos
Elon Musk lost his position as the world's richest person to Jeff Bezos. The wealth gap between them has been shrinking as Amazon shares rise and Tesla shares fall. Bezos is now the largest shareholder of Amazon with a net worth of $200.3 billion.
Satya Nadella interview; Zomato's restaurant onboarding push
Artificial Intelligence will not only help solve India’s unique structural challenges and help increase productivity and societal benefits, but those solutions for India may turn out to be relevant for the rest of the world as well, Nadella told ET.
Jeff Bezos sells roughly $2 billion of Amazon shares
Bezos has laid out a plan to sell his shares over the next year. The sale plan, which is subject to certain conditions, was adopted on November 8, 2023, and would be completed by January 31, 2025, according to the company's latest annual report.
Jeff Bezos sells roughly $2 billion of Amazon shares
Amazon.com founder Jeff Bezos sold around 12 million shares of the online retail and cloud services firm for roughly $2 billion, according to a company filing on Friday, soon after laying out a plan to sell his shares over the next year.
Demand for warehouse space in tier II cities on the rise : Report
In 2023, over 5 million sq ft of warehousing space was taken by companies in tier II cities like Lucknow, Chandigarh, Nashik, Hosur and Coimbatore, which are emerging as the central industrial corridors, with Indore, Chandigarh, Coimbatore, Lucknow, Nashik and Jaipur airports being equipped with cargo handling units.
Jeff Bezos to sell 50 million shares of Amazon by Jan 31 next year
Amazon.com founder Jeff Bezos will sell 50 million shares in the online retail and cloud services firm over the next one year, according to a company filing on Friday.
Jeff Bezos to sell up to 50 million Amazon shares by January 2025
The sale plan, which is subject to certain conditions, was adopted on Nov. 8 last year and will be completed by Jan. 31, 2025, according to the company's latest annual report.
iRobot to lay off 350 employees after Amazon terminates acquisition deal
As part of this workforce reduction, iRobot expects to record restructuring charges between $12 million and $13 million, primarily for severance and related costs, over the first two quarters of 2024, with the majority of the restructuring charges anticipated in the first quarter of 2024.
Amazon calls off bid to buy iRobot amid pushback in Europe
Amazon announced in 2022 that it would buy iRobot, maker of the circular-shaped Roomba vacuum, for $1.7 billion in cash. But the value of the deal fell 15% after iRobot incurred new debt.
Bharti Enterprises Chairman Sunil Mittal says Vodafone Idea is 'non-existent' in large parts of India
In an interview with Sruthijith KK on the sidelines of the World Economic Forum Annual Meeting in Davos, Bharti Enterprises chairman Sunil Mittal said ARPU (average revenue per user) needs to increase as 5G has been a huge load on telcos without any revenue coming through.
"Indians can dream now, the potential is enormous" – Prem Watsa, Chairman, Fairfax Financial Holdings
"India has got one big advantage - two-thirds of the economy is consumer-oriented," Fairfax Financial Holdings chairman Watsa told ET. "Nations like China have taken a long time to get that."
Amazon seeks dismissal of lawsuit over Kuiper satellite launch contracts
The Cleveland Bakers and Teamsters Pension Fund, a multi-employer fund, in August sued Amazon in the Delaware Court of Chancery alleging Amazon's board awarded contracts to Jeff Bezos' space company Blue Origin without proper diligence and without considering rocket rival Elon Musk-owned SpaceX's rockets.
Health snack brand Epigamia elevates COO Rahul Jain to CEO
Epigamia, a Mumbai-based health snack brand, appoints Rahul Jain as CEO, succeeding Rohan Mirchandani who becomes executive chairman. Ankur Goel is promoted to COO. Jain, an IIT-Bombay and ISB-Hyderabad alum, spearheads business strategy, focusing on FMCG innovation and competitiveness. Previously in finance, he co-launched Doctor Moo before Epigamia. The brand, available across 20,000+ touchpoints in 30+ towns and major retailers like DMart and online platforms including Amazon, Swiggy Instamart, and Big Basket, aims to enhance profitability after strategic cost optimizations.
Prosus cuts Byju's valuation to under $3 billion; PayU India, Swiggy H1 financials
Technology investor Prosus has slashed Byju’s valuation to below $3 billion from its peak of $22 billion. This and more in today’s ETtech Top 5.
Blacked out seeing the ring: Lauren Sánchez details romantic proposal from Jeff Bezos
Lauren Sanchez recalled her proposal from Jeff Bezos during an ultra-luxurious yacht trip to the Cannes Film Festival. The 20-carat sparkler is estimated to be worth a whopping $2.5 million.
Sayonara, Seattle! After 29 yrs in Pacific Northwest, Jeff Bezos makes 'emotional decision' to move to Florida
The billionaire announced his life update on Instagram on Friday morning.
Govt plans stricter rules to deter betting apps; Indian cricket jerseys fly off ecommerce shelves
To curtail the spread of illegal online gambling and betting via offshore platforms in the country, the Centre is planning to tighten the rules, especially on UPI payments. This and more in today’s ETtech Top 5.
ADIA to invest Rs 4,966.80 crore in Reliance Retail for 0.59 pc stake
This investment by a wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA) "will translate into an equity stake of 0.59 per cent" in Reliance Retail Ventures Limited (RRVL) on a fully diluted basis, it added.
Amazon sued in US over allegations it inflates online prices and overcharges sellers
US regulators and 17 states have filed a lawsuit against Amazon, accusing the e-commerce giant of abusing its market position to inflate prices and stifle competition. The lawsuit alleges that Amazon engages in anti-competitive practices by discouraging sellers from offering lower prices on other platforms, charging high fees, and favoring its own products over others.
US sues Amazon in landmark monopoly case after four-year probe
The lawsuit had been expected after years of complaints that Amazon.com and other tech giants abused their dominance of search, social media and online retailing to become gate keepers on the most lucrative aspects of the internet.
What’s powering Generative AI: The intelligent data centres
Generative AI applications require massive computing power, which means the data centre industry needs to get ready for an exponential surge in the near future. Here's how the top tech companies be it an MNC like HPE or AMDor homegrown firms like Airtel’s Nxtra or Hiranandani’s Yotta are gearing up for the ride.
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