Category: Business & Economics

Odisha Gears Up for Global Investment: CM to Host Ambassadors’ Meet Ahead of Utkarsh Odisha Conclave 2025

Manish Kumar

In a bid to attract global investments and strengthen international partnerships, Odisha Chief Minister Mohan Charan Majhi will host an Ambassadors’ Meet in New Delhi this Thursday. The event is part of the state’s preparations for its flagship business summit, Utkarsh Odisha: Make in Odisha Conclave 2025, scheduled for January 28-29, 2025, in Bhubaneswar. The Make in Odisha Conclave has a rich history of showcasing Odisha’s industrial potential and promoting the state as a major investment destination in India. First launched in 2016, the event has steadily grown into a…

Key Financial Rule Changes Effective from October 1, 2024: What You Need to Know

Manish Kumar

From October 1, 2024, several key financial and tax rules will come into effect in India, impacting investments, savings, and taxation. These changes range from adjustments in Public Provident Fund (PPF) accounts for NRIs to modifications in mutual fund taxation and other banking policies. Staying informed is crucial to ensuring that your financial plans align with the new regulations. Below, we take a closer look at the 12 major changes and how they could affect you. Zero Interest on PPF Accounts for NRIs Non-resident Indians (NRIs) who hold Public Provident…

SBI’s Legacy and Innovation: Introducing a Hybrid RD and SIP Product

Manish Kumar

SBI: A Pillar of India’s Banking Industry State Bank of India (SBI), the country’s largest public-sector bank, has long been a symbol of trust and reliability in the financial landscape. With a vast network of branches across India, SBI has built a legacy of serving millions of customers through traditional and modern banking solutions. Known for its diverse range of services, from basic savings accounts to cutting-edge digital products, SBI has consistently adapted to the evolving needs of its customers. Today, as financial literacy grows and customers seek smarter investment…

Shri Goyal Engages with CEOs of PLI Beneficiary Companies Under Make in India Campaign

Manish Kumar

Marking a decade of the transformative “Make in India” initiative, Minister of Commerce and Industry, Shri Piyush Goyal, today urged the Indian industry to  focus on prioritizing the production of high-quality goods to promote Brand India through sustainable practices in line with Prime Minister’s vision of Make in India with “Zero Effect; Zero Defect”. Shri Goyal said this while engaging with the CEOs of over 140 PLI beneficiary companies in an interactive session, celebrating their achievements under the Production Linked Incentive (PLI) Scheme. Addressing the gathering, Shri Piyush Goyal applauded the efforts…

India’s Forex Reserves Hit Record $692.3 Billion as Rupee Strengthens in 2024

Manish Kumar

India’s foreign trade policy has reached a milestone in 2024, with the country’s foreign exchange (forex) reserves achieving a record high of $692.3 billion as of September 20. This growth reflects India’s strategic economic management and robust market interventions by the Reserve Bank of India (RBI). Steady Increase in Forex Reserves India’s forex reserves have risen for six consecutive weeks, with a recent increase of $2.84 billion in the week ending September 20. This brings the total gain over the past five weeks to $19.3 billion. The bulk of these…

Commvault Boosts AWS Security with Clumio Acquisition

Manish Kumar

Commvault has announced its intention to acquire Clumio, a data protection startup founded by a former executive from Nutanix, VMware, and Oracle. This strategic acquisition aims to enhance the recovery speed for applications hosted on AWS, particularly in scenarios involving hacks or significant outages. By integrating Clumio’s capabilities, Commvault intends to facilitate quicker recovery of Amazon S3 data, strengthening its data protection services. The acquisition will not only bolster Commvault’s existing offerings but also enable Clumio to expand its services on a global scale. This move is expected to enhance…

The Hackett Group announces acquisition of India’s LeewayHertz

Manish Kumar

 The Hackett Group, Inc. (NASDAQ: HCKT) has announced its acquisition of LeewayHertz, a renowned provider of advanced Gen AI solutions.  This strategic move strengthens The Hackett Group’s position in guiding clients through their generative AI journey. The acquisition further highlights India’s growing prominence in the global AI landscape. LeewayHertz’s CEO Akash Takyar will now be the CEO of this new joint venture. This partnership aims to provide highly customized AI solutions to clients, fueling The Hackett Group’s growth strategy. The joint venture, ZBrain, will seek additional strategic funding after initial backing…

Oyo’s $525M G6 Deal Indicates a Focus on Global Expansion before IPO

Manish Kumar

Blackstone, the renowned private equity firm, has agreed to sell Motel 6, the well-known American budget hotel chain, to Oyo for $525 million in cash. This significant acquisition, reported by The Wall Street Journal, represents Oyo’s strategic expansion into the U.S. hospitality market and marks the conclusion of Blackstone’s decade-long ownership of the Motel 6 brand. Motel 6, famous for its affordable lodging options, aligns well with Oyo’s business model, which focuses on budget-friendly accommodations. This move not only enhances Oyo’s portfolio but also provides an opportunity for the company…

Exciting Opportunity: Australia to Offer 1,000 Work and Travel Visas to Indian Students Starting October 1

Manish Kumar

Australia will start providing up to 1,000 work and holiday visas each year to Indian citizens beginning October 1, 2024. This move is part of the India-Australia Economic Cooperation and Trade Agreement (AI-ECTA), which aims to strengthen ties between the two nations. Commerce and Industry Minister Piyush Goyal announced the development during his recent visit to Australia. Boosting Mobility and Connections The AI-ECTA, which took effect in December 2022, facilitates the mobility of young Indian professionals and strengthens people-to-people connections between India and Australia. Minister Goyal expressed optimism about the…

Qantas ‘Ghost Flights’ Scandal: How Australia’s Iconic Airline Misled Nearly One Million Passengers

Manish Kumar

Qantas Airways, known as the “Spirit of Australia,” has found itself embroiled in a massive scandal that has tarnished its reputation. Recent revelations from court documents have shown that the airline misled nearly a million passengers by selling tickets for thousands of flights that had already been cancelled. The controversy, which has resulted in heavy financial penalties and management upheaval, marks one of the most significant scandals in the airline’s history. The Scandal: Fake Flights Sold to Unsuspecting Passengers The root of the scandal lies in Qantas selling tickets for…