CEO Financial News

EV finance and asset management platform Finayo on Monday said it has secured Rs 16 crore in funding from investors, including NBFCs F Mec and CFPl, as well as HNIs and angel investors. The funding aims to fuel technological advancements and extend the platform's presence across India, said Finayo. F Mec International Financial Services Ltd and Choice Finserv Pvt Ltd are RBI-registered NBFCs, providing funding to progressive businesses, according to the platform.

Digital will be a convenience but plastic will remain in vogue albeit the drop in their usage, says Ramanathan RV, CEO & Co-founder, Hyperface.

ARC Electric, an electric cab services company catering to the corporate sector aims to strategically expand its fleet. It plans to target corporates in Hyderabad and Bengaluru with an ambition to introduce more than 5,000 EVs within the next 18-24 months. 

GoMechanic has announced the launch of ‘Electric Vehicle Services’ for India’s key fleet operators in the EV space. Under its new expansion strategy, GoMechanic will enlarge its service portfolio from ICE (Internal Combustion Engine) to EVs (Electric Vehicles) for leading Industry fleet leaders.

grocery code of conduct says its launch is being held back by a lack of support from two major grocers.“We’re at an impasse,” said Michael Graydon, CEO of the Food, Health & Consumer Products of Canada association and chairman of the interim board for the code.The board sent a progress report to the federal, territorial and provincial agriculture ministers on Wednesday.“There is a concern that without the full participation of all major grocers, the implementation of the Code would create an unlevel playing field and put affected stakeholders at a competitive disadvantage,” the report reads.Without the support of all major grocers, the interim board said it can’t proceed in implementing the required steps to launch the code.“What we’re faced with now is no consensus and a failure to achieve what industry has told us they would achieve without government intervention. To say this is disappointing would be an understatement,” said federal Agriculture Minister Lawrence MacAulay in an emailed statement on Wednesday evening.The code was always intended to be industry-led, but the industry has “failed to meet the moment,” he said.“We’re actively examining all available federal options _ that includes legislation,” added MacAulay.“I’ve also met with my colleague, (federal Industry Minister Francois-Philippe Champagne), and his provincial and territorial counterparts.

In the ever-shifting world of cryptocurrency, Bitcoin’s recent price movement paints a complex picture, trading at $41,079 with a 2.01% decrease on Monday. Amidst this volatility, notable voices in the industry weigh in, offering diverse outlooks. VanEck’s CEO stands firm in the belief that Bitcoin will retain its status as the premier digital store of value. In a more futuristic projection, Cathie Wood speculates an astronomical rise for Bitcoin, predicting a 3,356% increase by 2030.

However hard it is, the market-coming-of-age of many of those co-founders took years, under the shadow of the lead founder. Many of them took a chance at the CEO role. Many critics even argue that some of them needed that CEO tag to affirm their presence.

Nirmala Sitharaman will present the Union Budget 2024 on February 1 next year. It will be an interim Budget as the elections for the Lok Sabha are due early next year. The full Budget for FY25 will be presented after the formation of the new government.

UN Climate Conference in Dubai, COP28, Northvolt CEO and Co-Founder Peter Carlsson shared his outlook on sodium-ion in a conversation with Anna Liberg, Global Head of Energy at Business Sweden. Carlsson said, “The world has put high hopes on sodium-ion, and I’m very pleased to say that we’ve developed a technology that will enable its widespread deployment to accelerate the energy transition.

₹6,000 crore in renewable power projects, targeting a capacity of 1,000 MW. The investment encompasses a diverse portfolio of solar and wind power projects strategically positioned across Gujarat and Rajasthan. The lineup includes a 600 MW Solar Power project and 150 MW Wind Power project in Gujarat and a 250 MW Solar Power project in Rajasthan, Ambuja Cements said in a regulatory filing on Monday.

best time to lock your money into high-return term deposits. “We expect that the key policy rates will come down post-Q2 2024. Gradually, the market will start factoring this, which will have a downward impact on the FD returns of various banks, small finance banks, and NBFCs.

A majority of Canadians again said in December that it’s time for Prime Minister Justin Trudeau to step aside from this role and as leader of the Liberal Party, but most don’t believe he will do it.

NEW DELHI : Hollywood’s grip on the Indian audience, cultivated over the last few years, encountered a plot twist this year with box office collections estimated at just ₹1,300 crore from around 35 releases —a modest rise from the ₹1,276 crore earned in 2022, when 20 films were screened due to the covid-19 delays. Besides, in 2023, American films are expected to contribute about 13% to India’s total theatrical business, compared to an average of 20-22% during pre-pandemic times.

Impresario Hospitality & Entertainment, which owns restaurant brands like SOCIAL, Smoke House Deli and Boss Burger, is planning to go public in the next two to three years, according to its managing director, encouraged by the growth in the casual dining restaurant segment. The Mumbai-based food company also plans to increase its restaurants count to 100 in the next two to three years, with a revenue target of '1,000 crore by FY26, Riyaaz Amlani, Impresario's MD, told ET. While India's quick service restaurant (QSR) segment has multiple listed firms, including Devyani International, Sapphire Foods and Burger King India, the casual dining restaurant (CDR) space has only a few.

Reliance General Insurance Company introduced “Reliance Health Global", a healthcare policy aimed at providing Indians with access to global healthcare. This policy offers comprehensive coverage not only within India but extends its protective reach worldwide. It ensures a seamless experience for individuals accustomed to a global lifestyle, catering to those who seek access to top-notch healthcare services and infrastructure across the globe.

BBC India comply with foreign direct investment (FDI) norms in digital news, has appointed CA firm MSKA & Associates as its first statutory auditor, the company's regulatory filings show. MSKA & Associates will audit the newly formed company's annual accounts for FY24. Incorporated on October 27, the New Delhi headquartered company has two directors, Rashi Sehgal and Prabhkirtan Singh Sehgal. Four BBC staff members-Rupa Jha, Mukesh Sharma, Sanjoy Majumder, and Sara Hassan-left the company on December 12 and formed Collective Newsroom to allow BBC World Service India to comply with the 26% limit on foreign ownership in India. ET had first reported that BBC World Service India is restructuring its shareholding to meet the foreign ownership norms. The BBC has given Collective Newsroom the responsibility of creating digital content in India, its six Indian language services, and an English-language YouTube channel for Indian viewers across the globe.

financial planning, asset allocation and execution. Presently the focus is on regulating them more and more. Some aspects of a recently proposed regulation could even be called draconian, making one wonder whether the regulator is suggesting the RIAs and RAs shut shop.

Bank of Maharashtra, and Union Bank and UCO Bank. According to a report by Reuters citing the document, a parliamentary panel will hold discussions with the four government-owned banks early next year under banking laws which among other things govern mergers and acquisitions. The informal discussions will be held with representatives of UCO Bank and Union Bank of India on January 2, 2024, and between Bank of Maharashtra and Bank of India on January 6, 2024 in Mumbai and Goa.

A digital real estate company has been analyzing the data across a good portion of the province and says prices and sales have dropped, with some underbidding now taking place in many areas.

Unilever's chief executive officer Hein Schumacher said the company should not be complacent about its market share and indicated its historical strong position may weaken with increasing competition. «We should not be complacent about it (India). Yes, we have great positions, but with some slowdown in China, I do see international competitors flocking into India and putting a greater amount of resources behind it,» said Schumacher at a Barclays Fireside conference.

low-cost airline’s shares keep rising, the Financial Times reported. According to a 2019 bonus plan, O’Leary, 62, stands to earn share options valued at approximately €100 million if the Irish company’s shares maintain a price of 21 euros for 28 consecutive days, the newspaper said. The payout would come in the form of options to purchase 10 million shares at €11.12 each.