SMALLER RIVALS
Mom & pop stores vs new kids: India's ubiquitous kirana stores have a new rival
Tech-enabled players running self-service outlets like Frendy, SuperK, and Kirana King are challenging traditional kirana stores post-Covid. These modern trade stores have digital apps for orders and sourcing, contributing 4% to FMCG sales and up to 10% in premium categories.
IndiGo in talks for 100 smaller planes as part of plan to widen regional network
The airline, which already operates 45, 78-seater ATR-72 planes and will take delivery of five more this year, is expected to stick with Franco-Italian manufacturer ATR to benefit from economies of scale, people aware of the development told ET. However, the Airbus A220 and Embraer’s E-175 planes also remain in fray, they added.
Midcaps up M&A game with winds of tech spends revival
Indian IT sector witnesses a surge in acquisitions by firms of all sizes, driven by the need to pivot to new technologies and business models. Smaller players innovate and acquire to become key innovation partners in digital areas.
China's Nio sets sights on big EV race with Tesla, ropes in larger rival BYD for batteries
The Chinese EV maker was initially aiming to make batteries in-house, before eventually dropping the plan with the aim of cutting down on costs.
Big 4's dominance: Local companies call for level playing field
Indian auditing firms are pushing for fair competition with multinational counterparts, expressing concerns over the Big Four's increasing dominance and alleged manipulation of regulatory loopholes. The Institute of Chartered Accountants of India (ICAI) recently investigated affiliates of EY, Deloitte, PwC, and KPMG, where the firms were able to obtain court stays against disciplinary actions by the ICAI disciplinary committee after years of scrutiny, according to local rivals.
Pfizer Q1 Results: Co lifts profit view on cost cuts, smaller drop in Paxlovid
Pfizer lifted its annual earnings forecast on Wednesday and reported a first-quarter profit above Wall Street estimates, boosted by cost cutting efforts and stronger-than-expected sales of its COVID antiviral treatment.
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China's electric cars keep improving, a worry for rivals elsewhere
Chinese automakers are leading in electric car innovation, introducing larger, technologically advanced models. With plans to launch 71 new battery electric models, features include taller hoods, bigger tires, and spacious interiors. China's advancements in self-driving technology and battery efficiency are reshaping the global automotive landscape, challenging traditional manufacturers.
Tesla's plan for affordable cars takes page from Detroit rivals
Tesla's new strategy focuses on offering more affordable models using existing platforms, steering away from the Model 2. The shift mirrors traditional automakers, sparking investor optimism despite concerns about execution risk.
EU's Digital Markets Act hands boost to Big Tech's smaller rivals
The DMA is Europe's attempt to rein in Alphabet's Google, Amazon, Apple, TikTok owner ByteDance, Meta Platforms and Microsoft and create a level playing field for smaller rivals and ultimately more competition for Europeans.
Israel's wartime Cabinet is rattled by a dispute between Netanyahu and his top political rival
Israeli Cabinet minister Benny Gantz's unauthorized trip to Washington aims to seek support for Israel's ground campaign, push for the release of Israeli hostages held by Hamas, discuss postwar plans for Gaza, and address various issues related to the conflict and Israeli politics.
Amazon Pay secures payment aggregator licence; Krutrim AI’s chatbot
Amazon Pay has received a payment aggregator licence from the Reserve Bank of India (RBI). This and more in today’s ETtech Top 5.
India's small exporters reel as Red Sea crisis helps rivals nab business
Small firms export 40% of India's merchandise exports and re-routing of ships has squeezed already thin margins.
India's small exporters reel as Red Sea crisis helps rivals nab business
The Red Sea crisis has caused significant shipping costs and times for Indian companies, leading to job losses and increased costs for small exporters. In India, small exporters, who account for 40% of the country's annual merchandise exports worth $450 billion, have warned that job losses have started and could soar if the attacks, which began late last year, become prolonged.
Home interior company HomeLane may acquire smaller rival DesignCafe
After the merger, the firms aim to generate a combined earnings before interest, taxes, depreciation, and amortisation (Ebitda) of about Rs 70 crore by the financial year ended March 2025, people cited above said.
A Tesla rival is driving into India. What lies ahead for it
VinFast, a small electric vehicle (EV) maker backed by Vietnam's largest conglomerate, is expanding into India. The company plans to establish a $2 billion EV facility in Tamil Nadu and intends to build a nationwide dealership network. VinFast aims to offer affordable alternatives to Tesla in the Indian market and capitalize on the growing demand for EVs. Despite the challenges of the Indian EV industry, VinFast could have an advantage as one of the first EV-only companies operating in the country.
Pakistan polls: Former PM Nawaz Sharif claims victory; urges rival parties to join hands for coalition govt
Pakistan's former Prime Minister declared victory in the national elections, asserting that his political party had secured the most significant share of the vote and would explore the possibility of forming a coalition government. Sharif refrained from revealing the exact number of seats his party had won, as the counting process was still ongoing for the remaining few out of the 265 seats contested in the polls.
Nvidia’s Big Tech rivals put their own AI chips on the table
The boom in generative AI over the past year exposed just how dependent big tech companies had become on Nvidia. They cannot build chatbots and other AI systems without a special kind of chip that Nvidia has mastered over the past several years. They have spent billions of dollars on Nvidia's systems, and the chipmaker has not kept up with the demand.
Domino's focuses on quality, speed to trump local rivals
Domino's Pizza in India, operated by Jubilant FoodWorks (JFL), is intensifying its efforts to address growing competition from gourmet pizzerias and regional pizza players. To counter the competition, Domino's is introducing new premium cheese varieties, toppings, and sauces for its gourmet range. The company is also increasing sampling of gourmet pizzas in its top-10 markets.
Ola founder Bhavish Aggarwal’s Krutrim announces ChatGPT rival
New large language model to have generative support for 10 Indian languages, to be trained on 'Indian ethos and culture'
Starbucks to brew a mix of expansion, affordability to compete with rivals
Starbucks, the world's largest coffee retailer operating in India through Tata Consumer Products, is strategically shifting its focus towards rapid expansion and enhanced affordability. In a market where at least half-a-dozen new players are intensifying competition in the coffee cafe chain segment, Sunil D' Souza, Managing Director of Tata Consumer Products, sheds light on Starbucks' approach to navigate the dynamic landscape.
Chimpanzees use advanced military tactics like border patrolling, recon to defeat rivals: Study
Chimpanzees in Ivory Coast have been observed using advanced military-style tactics to gain an advantage over rival groups, according to a study. Researchers discovered that the chimpanzees demonstrated strategic thinking and decision-making in their territorial battles. They would divide into smaller units, conduct scouting missions by climbing hills to assess neighboring territories, and make informed decisions about advancing or retreating.
EU set for own summit in bid to rival China belt and road
On the occasion of the 10th anniversary of China's Belt and Road Initiative, the country hosted leaders of over 130 countries to celebrate the event.
DuckDuckGo says market share constrained by rival Google's huge wallet
The CEO of internet search engine company DuckDuckGo testified on Thursday that his company struggled to grow its market share because Google was paying key companies billions of dollars to keep its search engine as the default on computers or mobile devices.
China's Tencent posts smaller than expected revenue growth
The world's largest video game company and operator of the WeChat messaging platform said revenue reached 149.20 billion yuan ($20.45 billion) for the three months ended June 30.
Rivals will have to follow our model: PolicyBazaar’s Yashish Dahiya
During the company’s post earnings call for the first quarter of FY24, Dahiya emphasised that rivals in the market are following business models similar to that of PB Fintech for insurance distribution.
TikTok rivals Twitter with new text format
TikTok, the social platform known for its addictive video content, announced Monday that it will offer text-only posts, becoming the latest tech giant to offer an alternative to embattled Twitter.
Alphabet, Meta lure back advertisers as smaller rivals expected to struggle
Advertisers are facing an environment where they must "do more with less," Philipp Schindler, Google's chief business officer, said on an earnings conference call on Tuesday.
Oman's second-largest bank pursues merger with smaller rival
Ahli said it would study Bank Dhofar's offer. Bahrain's Ahli United Bank owns over a third of Oman's Ahli Bank. Stock in Bank Dhofar rose over 3 per cent in trading on Tuesday on the Muscat Securities Market, to more than 40 cents a share. The sultanate of Oman sits on the eastern edge of the Arabian Peninsula. While a smaller oil producer than other Gulf Arab states, analysts expect Oman to use higher crude prices to bring down its budget deficits.
MIB order in Zee Media case to create level playing field for smaller news broadcaster
The Information and Broadcasting Ministry revoked permission granted to Zee Media for simultaneous uplinking of 10 TV new channels in Ku Band on GSAT- 15 Satellite, which were available on DD FreeDish due to co-location
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