Pre-IPO party: Tiger Pacific Capital latest to pour into Bira 91 Keg
Tiger Pacific Capital acquires 4% of B9 Beverages for $25 million, strengthening its capital base. The acquisition includes strategic partners and blue chip financial sponsors across geographies. Ankur Jain plans to raise $50 million for pre-IPO companies and listed securities. Key Points
Economic TimesFactbox-Job cuts spill beyond tech sector
(Reuters) - Several U.S. and Canadian companies, mostly in sectors such as technology and media, have kicked of the year with job cuts, as they look to keep a lid on costs in an uncertain economy. Key Points
ThePrintAdani's data center JV seeking second dollar loan in six months
Data center provider AdaniConneX Private Ltd. will use the money to fund its growth plans this year, with a five year tenor under discussion, according to people familiar with the matter, who asked not to be identified because the matter is private. Key Points
Economic TimesTelcos unveil special packages to catch the eye of premium users
The competition for premium customers among India's leading mobile carriers is escalating, with Reliance Jio introducing more expensive prepaid mobile plans that include extensive over-the-top (OTT) entertainment benefits. In response, Vodafone Idea (Vi) has launched a 365-day recharge pack priced at ₹3,199, offering an annual Amazon Prime video subscription for prepaid users, along with unlimited voice calls, 100 text messages, and 730GB of data. Key Points
Economic TimesHow NRIs can build a robust retirement investment strategy
Building a robust portfolio requires a proportionate ratio of risk and returns. This is exactly what insurance-cum-investment products offer NRIs. While the life cover ensures the protection of their dependents, the investment element helps generate wealth through returns. Key Points
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Tesla to build 25,000-euro car in Germany - source
Tesla (TSLA.O) plans to build a 25,000-euro ($26,838) car at its factory near Berlin, a source with knowledge of the matter said on Monday, in a long-awaited development for the electric vehicle maker which is aiming for mass uptake of its cars. Key Points
ReutersWill JioCinema remain free? Jio may soon introduce plans for as low as Rs 2
Last week, a report revealed that the service provider plans to start charging for content on JioCinema. While the company is yet to unveil the official price, a leaked photo of the JioCinema test website gives a sneak peak to the plans and pricing list. Here are the deatils. Key Points
India Today‘Expecting a double-digit growth in volumes in FY24’
The company is expecting a double-digit growth in volumes in FY24, relying on continued growth in truck and bus radial demand. Anuj Khaturia, president, JK Tyre and Industries, spoke to Swaraj Baggonkar on the company’s plans. Excerpts. Key Points
FinancialexpressJioCinema paid plans with new content to be introduced soon: Here is everything we know
Reliance-backed JioCinema will soon start charging its viewers for its content and will also add a couple of new shows and movies to its streaming library. Here is all we know about the upcoming plan's tariff, new content, and other details. Key Points
India TodayJioFiber offers 90 days broadband plan under Rs 1200: price, benefits and more
The plan offers unlimited calling and data benefits with a 3.3 TB monthly data cap. After consumption, the speed of the internet drops significantly. Key Points
India Today
200 cities including Shimla, Imphal have notified GIS master plans. Real challenge is implementation
These plans, which entail mapping of entire existing infrastructure, are helping cities plan new development. But urban planners say accountability must be fixed to ensure success. Key Points
ThePrintNalwa Steel, BTL EPC bids tied for McNally
Nalwa Steel and Power and BTL EPC's resolution plans received an equal number of votes from creditors in the case of McNally Bharat Engineering, causing a rare tie situation in the bankruptcy proceedings. The winning bid was declared as BTL EPC, which offered INR 445.2 crore, compared to Nalwa's INR 426 crore. Key Points
Economic TimesThose serious about retirement aren’t attracted to NPS tax benefits: Santosh Agrawal, Policybazaar
NPS is a good product, but its just accumulation and then it invests in annuity. People know of the NPS because of tax benefit, but Rs.50,000 is not a meaningful amount, says Santosh Agrawal, CBO, Life Insurance, Policybazaar. Key Points
Economic TimesCarlyle pulls back from US consumer bets as part of strategic overhaul -source
Private equity firm Carlyle Group (CG.O) plans to pull back from investing in U.S.-based consumer, media and retail companies as it looks to focus on other key sectors such as technology and financial services, according to a person familiar with the matter. Key Points
ReutersPTC Therapeutics announces job cuts to lower annual operating expenses
PTC Therapeutics (PTCT.O) said on Thursday it plans to cut 25% of its workforce, as the drugmaker aims to reduce its yearly operating expenses. Key Points
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Biden plans $100 million drive to combat drug-resistant 'superbugs'
U.S. President Joe Biden will announce on Wednesday a $100 million research drive to fight deadly drug-resistant bacteria, according to a White House official. Key Points
ReutersGlobalFoundries eyes tieups for fab unit in India
GlobalFoundries was earlier in talks with a few companies from the country. Those plans, however, did not materialize owing to the latters lack of credible expertise and experience in manufacturing electronics products, a source said. Key Points
Economic TimesJioCinema will not be free for long, new plans to be introduced soon: Tariff, new content, and other details
Reliance-backed JioCinema will not be free for a long time as the platform plans on charging its viewers for its content soon. Here is all we know about the upcoming plan's tariff, new content, and other details. Key Points
India TodayVi, Airtel back tariff plan to make consumers pay as per their usage
But that could be difficult to implement on ground as market leader Reliance Jio is believed to be opposed to the tiering of price plans - where data allowance is linked to the tariff plan - as it feels such an exercise can complicate tariff structures, confuse consumers and eventually hurt data usage. Analysts said while the pay-as-you-use model or tier-based pricing model can boost telco revenue, it can work only if implemented collectively by all operators. Key Points
Economic TimesJio, Airtel roll out special plans to woo cricket fans
Airtel has launched two plans, which include unlimited data for 2 days against a payment of Rs 99 and 6GB of additional data with 1-day validity for Rs 49. On the other hand, Jio has rolled out monthly, quarterly and annual plans bundled with data, unlimited voice, and subscription to Disney+ Hotstar mobile. Key Points
Economic Times
IBBI plans new voting system for bankruptcies
Under the proposed system, all plans will be evaluated based on their first preference. If no plan secures the required 66% votes, the plan with the fewest first preference votes will be eliminated, and its first preference will be assigned to the second preference. Key Points
Economic TimesFoxconn to invest $1.6billion more in India to expand
International Business News: Foxconn plans to expand its footprint in India with another $1.6 billion investment for construction projects. The announcement, made in an exchange f Key Points
Times Of IndiaVolkswagen aims to bring under-$35,000 EV to US in 3-4 years-VW executive
Volkswagen (VOWG_p.DE) aims to bring an under $35,000 electric vehicle to the U.S. market in 3-4 years, while Chinese automaker Nio said it is still "debating" a 2025 entry into North America, senior executives said on Thursday at a Reuters conference. Key Points
ReutersFrom rags to riches: Andhra farmer earns Rs 4 crore in just 45 days from 'expensive' tomatoes
He had previously suffered losses due to plummeting tomato prices last year, which left him in a debt of Rs 1.5 crore. Through enhanced power supply, favorable prices, and good crop quality, the farmer achieved 35 successful tomato harvests with the potential for up to 20 more. Murali plans to invest his earnings in expanding his agricultural ventures and acquiring 20 acres of land in his village. His success serves as an inspiration for struggling farmers. Key Points
Economic TimesSpotify raises prices for its premium plans in the US
Spotify Technology (SPOT.N) said on Monday it was raising the prices for its premium plans by $1 each in the United States, as the music streaming company looks to boost profitability in an uncertain economy. Key Points
Reuters
Maruti to expand service centre network to regain market share
The company, which has launched several vehicles in the fast-growing sport utility vehicle (SUV) segment and announced aggressive capacity expansion plans, said it plans to open 1,000 additional service workshops in the three years to March 2025 to cover nearly all the 5,495 talukas in the country. It said an extensive sales and service network will enhance customer satisfaction and help regain 50% share in the local market in the medium term. Key Points
Economic TimesNo plans to extend ALMM for renewable energy player: Official
The government earlier extended the ALMM by one year till March 2024 amid industry raising concerns over raw material availability and supply chain. ALMM was introduced to boost domestic manufacturing. The official further said that the ministry on a regular basis keeps on interacting with industry stakeholders and actively addresses their issues with respect to projects . Key Points
Economic TimesVirat Kohli-backed Go Digit Insurance re-files IPO papers after regulator concerns
The IPO comprises a fresh issue of shares worth 12.5 billion rupees ($152.1 million) and an offer for sale of 109.4 million shares, according to the draft prospectus – unchanged from its last filing – dated March 30 Key Points
mintVodafone-idea brings 2 new affordable prepaid plans with unlimited calls, up to 6GB data
While Vodafone-idea is facing challenges rolling out 5G service for its customers, it just launched 2 new prepaid plans. The plans are worth Rs 289 and Rs 429. Key Points
India TodaySVB Chief Greg Becker sold $3.6 million in stock days before bank’s failure
Silicon Valley Bank Chief Executive Officer Greg Becker sold $3.6 million of company stock under a trading plan less than two weeks before the firm disclosed extensive losses that led to its failure. Key Points
mint
Adani plans to repay up to $790 mln share-backed loans by March
Adani Green Energy also plans to refinance its 2024 bonds via a $800 million, three-year credit line, said the sources, who declined to be named as they were not authorised to speak to the media. Those plans were presented by the Adani management to the group's bondholders in Hong Kong on Tuesday. Key Points
Economic TimesAirtel vs Jio prepaid plans offering 3GB daily 5G data, unlimited calling and other benefits compared
Both Airtel and Jio offer prepaid plans with 3GB daily data cap for users who want more internet data to play games, surf the internet, stream and more. Check the full list. Key Points
India TodayEli Lilly plans new 2 billion euro German plant
U.S. pharmaceuticals company Eli Lilly (LLY.N) plans to build a new plant in western Germany, sources close to the matter told Reuters, with one putting the investment at 2 bln euros Key Points
ReutersReliance Industries to hold 46th AGM on August 28
RIL has set August 21 as the record date to determine eligible shareholders for payment of dividend. Dalal Street investors will keenly look forward to it, as Chairman Mukesh Ambani usually makes key announcements related to growth and expansion plans in AGMs. Key Points
Economic TimesMadame aims for 27% revenue jump in FY24 to reach Rs 470 crore, says Akhil Jain
In order to fuel its future growth plans, Madame is focusing on expanding its retail presence in the South and West regions of the country. In the fiscal year 2023-24, it plans to add approximately 12 stores across eight cities in these regions. Key Points
Financialexpress
JioCinema may soon become a paid subscription service: Here are alleged prices
As per online reports, JioCinema may soon attract a subscription fee. A test website revealing three subscription plans have surfaced online. Key Points
mintZimbabwe wants lithium miners to plan new capacity despite price dive
International Business News: Zimbabwe wants miners to come forward by the end of March with plans to produce battery-grade lithium, despite a sharp fall in global prices for the mineral. The government hopes to benefit from a global shift towards clean energy storage. Read more about Zimbabwe's plan for lithium production. Key Points
Times Of IndiaLife insurance: Disclose true health status when buying a term plan
Among the death claims, more than 85% are non-early in nature, i.e., the claims that arise three years after buying the policies. Key Points
FinancialexpressMutual funds reopen international funds before new tax rules kick in from April 1
At least three asset management companies (AMCs) have together opened 16 international equity mutual fund programmes for lump-sum investments up to the amounts legally permissible. The Finance Bill amendments, applicable from the next financial year beginning April 1, will remove indexation benefits for debt-oriented savings plans. Key Points
Economic TimesFusion CX forays into the South Indian market with a new facility in TN
Chennai, Mar 20 (PTI) Business process management company Fusion CX has inaugurated its new facility here bolstering its growth plans besides generating employment opportunities in the region, the company said on Wednesday. The facility, spread across 12,000 sq ft in Ambattur, here would be able to accommodate 650 employees in two shifts. It also marks […] Key Points
ThePrint
TCS aims to double staff in this European country over the next three years
Tata Consultancy Services (TCS) plans to double its workforce in France over the next three years. Find out how TCS aims to strengthen its presence in this European country. Key Points
Times Of India