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Indian Demat Accounts Holders Surge Past 17 Crore in August 2024

9Sep By NitishNo Comments

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Indian Demat Accounts Holders Surge Past 17 Crore in August 2024

India’s financial landscape is witnessing a remarkable transformation as the number of demat accounts has surpassed the 17 crore mark in August 2024. This milestone comes as monthly additions continue to exceed 40 lakh for the sixth consecutive month, reflecting a sustained surge in investor participation. Key Drivers Behind the Demat Boom Several factors are contributing to this unprecedented growth in demat accounts: Digitization of KYC Processes: The ease of completing Know Your Customer (KYC) procedures online has significantly lowered entry barriers for new investors. Market Performance: With indices like SENSEX and NIFTY reaching new highs, investor confidence is at an all-time high. Increased Awareness: There is a growing awareness and interest in stock market invest...

Warren Buffett’s Berkshire Hathaway Now Worth $1 Trillion

29Aug By NitishNo Comments

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Warren Buffett’s Berkshire Hathaway Now Worth $1 Trillion

29th Aug, 2024: On Wednesday, Berkshire Hathaway’s market value exceeded $1 trillion, showcasing investor confidence in the conglomerate that Warren Buffett has meticulously built over nearly six decades. Many view Berkshire as a barometer for the American economy. Berkshire joins an elite group of six other companies, primarily from the technology sector, that have surpassed the $1 trillion mark: Apple, Nvidia, Microsoft, Alphabet (Google’s parent company), Amazon, and Meta Platforms (Facebook’s parent company). In the first half of the year, Berkshire’s diverse portfolio of insurance, energy, manufacturing, retail, and service businesses generated $22.8 billion in profit, marking a 26% increase from the previous year. These businesses include well-known names such as Geico car insu...

Zomato Board approves Paytm Insider Acquisition

23Aug By AdityaNo Comments

News

Zomato Board approves Paytm Insider Acquisition

New Delhi, 23rd Aug 2024: Zomato's board of directors has made a significant move by approving a share purchase and subscription agreement aimed at acquiring the entertainment ticketing business Paytm Insider from One 97 Communications, a parent platform of Paytm. This acquisition involves two of One 97's wholly owned subsidiaries Orbgen Technologies Private Limited (OTPL) and Wasteland Entertainment Private Limited (WEPL). The transaction will occur through a slump sale, where One 97 Communications will transfer its movie ticketing operations to OTPL and its sports and events ticketing functions to WEPL. Following this transfer, Zomato will acquire all shares held by One 97 Communications in both OTPL and WEPL, thereby making them entirely owned subsidiaries of Zomato. In additi...

Ola Cabs Start using Ola Maps, Exit Google Map

8Jul By AnkitaNo Comments

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Ola Cabs Start using Ola Maps, Exit Google Map

Bengaluru, 8th July 2024: In a significant development within the tech and transportation industry, Ola Cabs, under the leadership of Bhavish Aggarwal, has made a strategic transition to utilizing its proprietary online mapping service, Ola Maps. This move marks a pivotal shift for the Bengaluru-based ride-hailing company as it aims to enhance operational efficiency, reduce costs, and offer advanced features to its users. The decision to shift to an in-house navigation platform comes on the heels of Ola Electric's successful commercial launch of Ola Maps in January this year. Founder Bhavish Aggarwal emphasized the substantial cost savings achieved by the company through this transition, stating that they have managed to eliminate an annual expenditure of ₹100 crore by fully leveraging ...

Nvidia Surpasses Entire European Stock Markets Value

26Jun By PriyankaNo Comments

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Nvidia Surpasses Entire European Stock Markets Value

The surging shares of Nvidia Corp. have propelled the U.S. company to a staggering market value surpassing the combined stock markets of entire European countries, as reported by Deutsche Bank Research. Investor fervor for Nvidia's (NVDA) stock has catapulted the artificial-intelligence chip maker to the top spot among U.S. companies on Tuesday, with a market value exceeding $3.3 trillion. Jim Reid, global head of macro and thematic research at Deutsche Bank Research, highlighted that in less than a month, Nvidia's market cap surpassed the total of all listed stocks in Germany, the UK, and France. Reid noted that Nvidia's market capitalization surged from 2 trillion to 3 trillion in just 30 trading days starting from April 24, with an additional trillion dollars added since Ma...

Singapore started Automated Immigration Clearance Lanes at Changi Airport

19May By PriyankaNo Comments

News

Singapore started Automated Immigration Clearance Lanes at Changi Airport

Singapore, May 19, 2024 - Singapore's Immigration and Checkpoints Authority (ICA) proudly announces the extension of automated immigration lanes to all foreign visitors arriving at Singapore Changi Airport, regardless of nationality or the type of passport, making the arrival process more efficient and stress-free. The new development incorporates biometric identification using iris and facial recognition technology as the primary identifiers for immigration clearance. In instances where these methods prove unsuccessful, fingerprints will be utilized as an additional biometric identifier. Unnecessary registration is no longer a prerequisite for utilizing these advanced facilities. Passengers can now seamlessly proceed through the automated lanes upon arrival. Forward-thinking departi...

Exploring the Reasons Behind Dubai’s Heavy Rainfall

19Apr By AnkitaNo Comments

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Exploring the Reasons Behind Dubai’s Heavy Rainfall

The United Arab Emirates (UAE) recently experienced its heaviest rainfall ever due to a severe thunderstorm that struck the country late on Monday night, resulting in one fatality, property damage, and disruptions to air travel in Dubai. Dubai, a typically arid region, received an unprecedented amount of rain, with more than 142 millimetres falling in just one day – a stark contrast to the average annual rainfall of 94.7 millimetres at Dubai International Airport. The heavy downpour led to widespread flooding, causing chaos at the airport and throughout the city. The impact of the heavy rains was felt across Dubai, with homes flooded, vehicles abandoned on roads, and popular shopping centers like Dubai Mall and Mall of the Emirates overcome with water. School closures and work-from-h...

Apple’s iPhone Shipment Decline as Samsung Takes the Lead

15Apr By PriyankaNo Comments

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Apple’s iPhone Shipment Decline as Samsung Takes the Lead

In the first quarter of 2024, Apple experienced a 10 per cent drop in smartphone shipments, facing tough competition from Android smartphone manufacturers. Data from research firm IDC revealed that global smartphone shipments grew by 7.8 per cent to 289.4 million units in the January-March period. Samsung emerged as the top phonemaker with a 20.8 per cent market share, surpassing Apple. Following a strong performance in the December quarter, where Apple surpassed Samsung to become the world's No.1 phone maker, the iPhone-maker slipped back to the second spot with a 17.3 per cent market share. Chinese brands like Huawei are gaining market share, contributing to Apple's decline. Xiaomi, a leading Chinese smartphone manufacturer, secured the third position with a market share of 14.1 pe...

Singapore Government Raises Minimum Wages for Expats

18Mar By PriyankaNo Comments

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Singapore Government Raises Minimum Wages for Expats

18th March, 2024: Singapore Government has implemented new regulations regarding minimum wages for foreign workers, particularly focusing on the Employment Pass (EP) policy. The Ministry of Manpower (MOM) has announced adjustments to the EP minimum qualifying salary, increasing it from $5,000 to $5,600 per month. This increment will be progressively raised with age, reaching up to $10,700 for individuals in their mid-40s. These changes aim to maintain equitable opportunities for local employees across all age demographics. The EP is a work permit that allows foreign professionals, managers, and executives to be employed in Singapore. The minimum qualifying salary for the EP is based on the top one-third of local PMET1 wages, ensuring that EP holders meet high-quality standards. The ...

Accenture Acquired Udacity, Launched Accenture LearnVantage Platform

7Mar By AdityaNo Comments

ACQUISITION, News

Accenture Acquired Udacity, Launched Accenture LearnVantage Platform

MOUNTAIN VIEW, California; March 7, 2024 – IT MNC Accenture acquired Udacity, a digital education pioneer with deep expertise in the development and delivery of proprietary technology courses that blend the flexibility of online learning with the benefits of human instruction. Terms of the transaction were not disclosed. Udacity’s team of more than 230 professionals will join newly launched edtech platform Accenture LearnVantage, which provides Accenture’s clients with comprehensive technology learning and training services that will help them reskill and upskill their people in technology, data and AI to reinvent their organizations and achieve greater business value. The company will invest $1 billion in Accenture LearnVantage over three years. According to Accenture research, busi...

Tiger Woods Officially Ends 27 Year Old Nike Contract

11Jan By PriyankaNo Comments

News

Tiger Woods Officially Ends 27 Year Old Nike Contract

Jan 10, 2024: In a historic announcement that has sent shockwaves through the world of golf, Tiger Woods has officially called end of his legendary 27-year partnership with the iconic sportswear brand Nike. This significant move not only marks the end of an era but also raises intriguing questions about the future of both Woods and the sport itself. Taking to social media, Woods expressed his heartfelt gratitude to Nike co-founder Phil Knight, acknowledging his "passion and vision" that brought them together when he first turned professional. An exciting journey that began in 1996, shortly after Woods clinched his third consecutive U.S. Amateur Golf Championship, sealing a monumental five-year deal reportedly worth $40 million. Throughout the years, Woods has been the face of Nike, e...

BRICS Group Expands with Five New Members

2Jan By AnkitaNo Comments

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BRICS Group Expands with Five New Members

2nd Jan, 2024, Moscow: The BRICS group, renowned as a pivotal platform for emerging markets and developing countries, has recently welcomed five new members. The inclusion of Egypt, Iran, Saudi Arabia, the United Arab Emirates, and Ethiopia strengthens the bloc's influence and marks a significant milestone. Originally established by Brazil, Russia, India, China, and South Africa, the BRICS group now encompasses a wider range of nations, reflecting its growing importance in the global landscape. The acceptance of these new members into the BRICS group comes after numerous membership requests in recent years, underscoring the increasing significance and influence of the bloc. The Johannesburg Summit in August 2023 extended a formal invitation to the five nations, recognizing their economi...