Economic

Brazil suspended its decision to import four million doses of Covaxin

Brazil has put off its decision to import four million doses of Bharat Biotech's COVID-19 vaccine Covaxin into the nation, following the suspension of intended clinical trials and a request for Emergency Use Authorisation. According to a statement released by the Brazilian National Health Surveillan... Read more

29 July 2021

London High Court makes a judgement in favor of the banks and declares Vijay Mallya bankrupt

A British court awarded Vijay Mallya a bankruptcy order on Monday, clearing the way for a consortium of Indian banks led by the State Bank of India (SBI) to seek repayment of debt owed by the now-defunct Kingfisher Airlines through a worldwide freezing order. The Indian banks had pushed for the bank... Read more

27 July 2021

IBM signs a 10 year contract with BIAL

IBM and Bangalore International Airport Limited (BIAL), the operator of Kempegowda International Airport, Bengaluru (KIAB/BLR Airport), have signed a 10-year agreement in which IBM and its spin-off Kyndryl will provide IT solutions to create a "Airport in a Box" platform to improve passenger experie... Read more

21 July 2021

Swiggy raises $1.25 billion fundings

Swiggy, a Bengaluru-based food delivery company, announced on July 20 that it had received $1.25 billion in a round headed by SoftBank Vision Fund 2 and consumer internet company Prosus. Existing investors Accel Partners and Wellington Management, as well as new investors Qatar Investment Authority,... Read more

20 July 2021

Ola receives 1,00,000 pre-launch bookings for its electric scooter

Ola, a Bengaluru-based mobility platform, claimed on July 17 that it has received 1,00,000 pre-launch bookings for its electric scooter in just 24 hours after allowing pre-launch bookings for the two-wheeler. On July 15, Ola Electric began accepting reservations for its yet-to-be-released electric s... Read more

17 July 2021

PM Modi to inaugurate projects worth INR 1,100 crore in Gujarat

According to Gujarat government officials, Prime Minister Narendra Modi will digitally inaugurate and dedicate to the nation plenty of projects worth more than INR 1,100 crore on Friday, including a freshly built five-star hotel atop the renovated Gandhinagar railway station. SS Rathore, Managing Di... Read more

16 July 2021

TikTok crosses 3 billion downloads

TikTok, a short-video app, has surpassed 3 billion downloads on both the App Store and Google Play. According to app analytics firm Sensor Tower, the ByteDance-owned app is the fifth non-game app to join a group that has hitherto been the exclusive domain of Facebook. WhatsApp, Messenger, Facebook, ... Read more

16 July 2021

Finance Ministry distributed GST Compensation dues to States

The Finance Ministry distributed GST Compensation dues to States and Union Territories on Thursday, claiming that this will assist them plan their public expenditure for enhancing health facilities and other capital investment initiatives. These monies were raised through the Centre's market borrowi... Read more

15 July 2021

Youtube’s Algorithm recommends unpleasant videos: Mozilla

People in non-English speaking nations had a 60 percent higher probability of encountering upsetting films, according to the 10-month crowdsourced investigation, which Mozilla claims is the largest-ever. RegretsReporter, an open-source browser plugin that allows consumers to voluntarily volunteer th... Read more

09 July 2021

Amazon India opens its first Digital Kendra in Surat

In Surat, Gujarat, Amazon India opened its first Digital Kendra, a physical resource centre that would help kiranas and small businesses go digital. MSMEs would benefit from Digital Kendra's assistance in adopting technology to build their enterprises and play a larger role in the resuscitation and ... Read more

08 July 2021