Troubled education provider Byju’s is in advanced talks to sell its US-based kids’ digital reading platform for about $400 million to Joffre Capital Ltd., seeking funds to ease its financial pressures. The potential sale of Epic! Creations Inc. would help Byju’s raise funds to pay down a disputed $1.2 billion term loan, people familiar with … Read more
A government move to protect homebuyers in bankrupt real estate projects is yet to take concrete shape given the way developers structure their projects, two people aware of the matter said. The so-called reverse bankruptcy framework was first proposed by the ministry of company affairs in a discussion paper in January. It would apply the … Read more
India’s appeal as an investment destination remains strong amid global economic uncertainties, according to Manny Maceda, the Worldwide Managing Partner and CEO of Bain & Co. In an interview with ET he said, “India has always been a great, unique opportunity.” The International Monetary Fund (IMF) recently raised India’s GDP growth forecast for FY24 to … Read more
Waking up to complaints and issues related to maintenance of National Highways (NHs), the road transport ministry has now made it mandatory for contractors and executing agencies to submit evidence of time-stamped and geo-tagged photos of ‘before works and after maintenance’, while submitting bills. The move comes amid widespread criticism over the Centre focusing on … Read more
China is allegedly pumping in billions of dollars annually to reshape the global narrative through fake authors, bot armies and lawsuits. The first documented Beijing-backed global disinformation campaign dates back to 2017, when it typically targeted English and Chinese speakers on large platforms like Twitter (now X), Facebook, and YouTube. Since then it has come … Read more
The Company has announced a major greefield capex into setting up a new petrochemical facility at Dahej, Gujarat. The proposed project includes 750 KTPA of Propane Dehydrogenation (PDH) & 500 KTPA of Propylene (PP) plant including propane and ethane handling facility. The project will generate revenue from the sale of polypropylene, propylene, propane, hydrogen and … Read more
AU Small Finance Bank (AU) is acquiring Fincare Small Finance Bank (Fincare) in a 100% share swap transaction. Fincare is a rural microfinance focused business with 15+ years of experience Microfinance is 53.9% of advances, followed by 18.9% Small Business Loans, 14.2% Home Loans, 10.2% Gold Loans and 2.6% others It’s majorly focused on South … Read more
Indian telecom equipment makers have asked the government to provide incentives for increasing value addition in manufacturing to reduce their dependence on imports, even as some companies have begun making fixed wireless access equipment that will be in high demand in India and other global markets. In a meeting with senior ministry officials last week, … Read more