Author: hriditya.biswas

India, being one of the fastest-growing economies in the world, has shown great interest in implementing climate-friendly policies and initiatives. With this, India is seeking support from the Asian Development Bank (ADB) to boost its efforts in tackling climate change. The Finance Minister of India, Nirmala Sitharaman, has urged the ADB to provide more concessional climate finance to support India’s transition towards a low-carbon economy. In recent years, India has been taking several measures to address the impacts of climate change. The country has set a target of generating 450 GW of renewable energy by 2030 and has also committed…

Subway, the American fast-food chain, has come up with a $5 billion debt plan to secure a $10 billion-plus sale, according to a report by Reuters. The plan is part of the company’s efforts to restructure its business and reduce its debt load as it seeks to attract buyers. The move comes amid a challenging environment for the restaurant industry, which has been hit hard by the COVID-19 pandemic. Subway’s debt plan includes a $2.5 billion loan from banks led by JPMorgan Chase & Co. and Goldman Sachs Group Inc., and a $2.5 billion bond offering, according to anonymous sources…

JP Morgan Chase is a leading global financial institution, with a strong reputation for innovation and a commitment to excellence. In recent years, the company has expanded its reach into new markets and sectors, acquiring a number of smaller banks and financial firms to bolster its offerings and increase its market share. In 2024, JP Morgan announced its intent to acquire First Republic Bank after the latter was seized by regulators. First Republic Bank is a San Francisco-based bank that specializes in providing high-end banking services to affluent clients. The bank has a reputation for exceptional customer service, and its…

India is now the largest supplier of refined fuel to Europe, marking a significant shift in the global energy market. This achievement is a testament to India’s increasing competitiveness in the global energy market, and it comes at a time when the country is striving to boost its energy exports. According to data from the International Energy Agency (IEA), India exported 5.33 million tonnes of refined fuel to Europe in the first half of 2021, overtaking Russia, which exported 5.17 million tonnes during the same period. This marks a significant increase from India’s refined fuel exports to Europe in 2020,…

The Securities and Exchange Board of India (SEBI) has barred Rajesh Mokashi, the former CEO of CARE Ratings, from accessing the securities market for two years. The decision came after SEBI found him guilty of violating various regulations. CARE Ratings is one of India’s leading credit rating agencies, and Mokashi served as its CEO from 2016 to 2019. According to SEBI’s investigation, Mokashi failed to exercise due diligence and was involved in irregularities in rating IL&FS Financial Services’ commercial papers (CPs). SEBI also found that Mokashi had passed on confidential information to a few select entities. IL&FS Financial Services is…

Zee Entertainment Enterprises Limited, a leading Indian media company, has reportedly initiated settlement talks with its creditors over the proposed merger with Sony Pictures Networks India (SPNI). The development comes as Zee faces a debt burden of around INR 16,500 crore ($2.2 billion), according to a report by a popular Indian newspaper. Zee’s decision to enter into settlement talks with its creditors is seen as a move to fast-track the merger with SPNI, which was announced in late 2021. The proposed merger would create one of the largest media and entertainment companies in India, with a combined market share of…

Zomato, the Indian food delivery giant, recently issued a statement in response to the ongoing protests by the company’s delivery partners against the Blinkit initiative. The Blinkit initiative, launched by Zomato earlier this year, aims to reduce the delivery time by incentivizing the delivery partners to complete their deliveries within a set time limit. However, the delivery partners have expressed their dissatisfaction with the initiative, claiming that it puts undue pressure on them and affects their earnings. In this article, we will delve deeper into the Blinkit initiative and the protests by the delivery partners. The Blinkit Initiative: The Blinkit…

Amazon is set to invest a massive $10 billion into its satellite internet service, Project Kuiper, as the company aims to expand its presence in the fast-growing space-based internet market. The project aims to provide high-speed internet access to remote areas and underserved communities around the world. Amazon’s decision to invest in satellite internet technology comes at a time when several other tech giants are also entering the race, including Elon Musk’s SpaceX and OneWeb. According to reports, Project Kuiper will consist of a constellation of 3,236 satellites that will orbit the Earth at an altitude of between 590 and…

Flipkart, India’s leading e-commerce platform, has recently acquired Scapic, a startup that specializes in AI-based virtual and augmented reality. The acquisition aims to enhance Flipkart’s technology capabilities and provide a better shopping experience for its customers. Scapic, founded in 2017 by Sai Krishna V K and Ajay P V, is a cloud-based platform that allows users to create and publish AR/VR content without any coding or design skills. The start-up has previously worked with several brands and businesses, including Titan, PepsiCo, and Myntra, to create immersive shopping experiences for their customers. Flipkart plans to leverage Scapic’s technology to create AR/VR-based…