Tesla owner Elon Musk tweeted that he will probably open a factory in India if successful with imported vehicles. According to sources, Tesla had written to the ministry for reduced import duties on electric vehicles. "We are hopeful that there will be at least a temporary tariff relief for electric vehicles," Musk wrote. Others had previously have persuaded for reduced duties but were always met with resistance from the government.
After experiencing a loss of Rs 60.60 crore in 2020, media firm Network 18 Media & Investments have witnessed a 6% rise in its share on June 22. The company reported a combined profit of Rs 121.51 crore. “Growing engagement on our platforms across TV and Digital make us confident of delivering for all our stakeholders even amidst a choppy environment,” said Adil Zainulbhai, Chairman of Network18.
Food delivery giant, Zomato was marked as India's first unicorn to list on the stock exchanges on July 23. On the BSE, it was listed at Rs 115, a premium of 51.32% over the issue price of Rs 76. The stock debuted on the NSE at Rs 116. Zomato also bags a position among the Top 100 listed businesses in terms of market capitalization worth Rs 1 lakh crore.
Courtesy: The Economic Times
The US has said that India "remains a challenging place" to do business. In its 2021 Investment Climate Statements report, the country's state department urged the Indian government to reduce barriers and bureaucratic hurdles for easy and attractive investment in the country. The report further mentioned the removal of constitutional status from Jammu and Kashmir and the process of the Citizenship Amendment Law.
Courtesy: The Economic Times
Elon Musk Tesla’s CEO has acknowledged owning a few bitcoins,dogecoins, and ethereums at B Word Conference organised by Crypto Council for Innovation. He further, ingeminated the environmental concerns in correspondence to cryptocurrencies. Moreover, Musk included Tesla might continue tolerating Bitcoin as a form of transaction for its cars, after keeping a close focus on total renewable energy used in mining cryptocurrency. “I would like to… read-more
In a bid to expand its presence in the USA's education market, Bangalore-based startup Byju's will acquire the digital reading platform "Epic" for $500 million. Epic is regarded as the world's largest digital reading platform for kids 12 and under, which hosts a million teachers and 50 million kids use the platform. Meanwhile, Byju's founder Raveendran said the expansion will ''hugely accelerate'' our revenue by March 2022.
Courtesy: Bloomberg Quint
Megha Bafna from Pune besides working for a full-time corporate job became an entrepreneur and owns “Keep Good Shape”, a salad-making business. Bafna thought that the salad business would thrive as “junk food was easily available and good healthy salads were either expensive or not readily available.” About 30 people help to make salads for Bafna, and now she offers 27 different salads.
Courtesy: The Better India
Sharing advice for the aspiring entrepreneurs, Oyo founder Ritesh Agarwal said, “as an entrepreneur, you are going to face rejection most of the time, get used to it.” Agarwal took to Twitter saying ''during my early days at OYO, nearly 80% of the VCs I wrote to rejected me.'' Reportedly, netizens found his advice to be very enlightening. Earlier, he stated, ''Being humble is an important trait for founders."
Courtesy: Business Today
The central government refuses to cut the excise duty cut on fuel products for fiscal concerns and a ₹10 cut may lead to a fiscal deficit of 0.58%, while it reduces inflation by just 0.2%. However, on July 20, the Centre explained that the petrol and diesel excise duty are being used for developmental infrastructure. Reportedly, additional expenditure for FY22 is expected during revised estimates.
Twitter CEO Jack Dorsey owned Square Inc. which enables sellers to accept card payments is now launching banking services for small businesses. Apart from offering businesses savings and checking accounts, Square banking will also offer loans to small and medium businesses through Square Loans. The aim is to attract small business owners who have been struggling to gain access from big banks.