Expansion Financial News

NEW DELHI : India is in talks with a number of African countries, including Namibia, Mozambique and Kenya, to help develop its Unified Payment Interface (UPI) and to conclude commercial partnerships between payments platforms, according to persons aware of the matter. This push comes after Ritesh Shukla, International CEO of the National Payments Corporation of India (NPCI), which developed UPI, stated that the number of countries where UPI is live will double in the next 12-18 months. “There are many countries in the world which have similar problems we had before the advent of UPI.

the future of BRICS-Plus. The Johannesburg summit of BRICS leaders, which ended on 23 August 2023, agreed to induct six new members: the United Arab Emirates (UAE), Saudi Arabia, Argentina, Iran, Egypt and Ethiopia. Along with the existing five members—Brazil, Russia, India, China and South Africa—the expanded grouping of 11 members now presents an interesting alchemy of geo-political and geo-economic interests.

Also read: Kerala: Chief Minister Pinarayi Vijayan releases additional textbooks to reintroduce portions deleted by NCERT The Chief Minister had previously announced on June 7, 2023, that the breakfast programme would be extended to all 31,008 government primary schools across both urban and rural areas of Tamil Nadu. This expansion is aimed at benefiting 15.75 lakh primary students.

Reliance Industries is likely to sell another 8-10% stake in Reliance Retail Ventures Ltd (RRVL) to fund expansion, retire debt and prepare for the initial public offering of the conglomerate's retail business, two senior industry executives aware of the plans said. This process will likely happen in tranches over 12-15 months and will be critical for the proposed IPO by the holding company of Reliance's retail operations, the executives said. The stake sale is crucial because at the current valuation of $100 billion (₹8.25 lakh crore), RRVL's IPO size will be humongous and the market may not have the liquidity to absorb such an offer. Hence, the company thinks, another 7-10% equity dilution will make the IPO size manageable to ensure its success since by then its valuation is also likely to go up, the people said. As per India's listing rules, the public shareholding, including those held by financial investors, of a company must be at least 25%.

Recent developments around Worldcoin have reignited discussions on data privacy and the ethical implications of personal identification. The project's audacious goal to grant everyone on Earth a biometrically verified digital ID has captured attention globally—and not always in a good way. 

Check the latest updates hereBRICS countries have economies vastly different in scale and governments with often divergent foreign policy goals, a complicating factor for a bloc whose consensus decision-making model gives each member a de facto veto.Bloc heavyweight China has long called for an expansion of BRICS as a means of fostering a multipolar world order to challenge Western dominance."The world ... has entered a new period of turbulence and transformation," China's President Xi Jinping said on Wednesday.

The leaders of Brazil, Russia, India, China and South Africa have held closed-door discussions on the possible expansion of their BRICS economic bloc

Narendra Modi Wednesday called for the expansion of the five-nation grouping, while addressing the opening plenary session of the 15th BRICS summit in Johannesburg. He emphasized that India has given highest priority to countries of Global South under its G20 presidency. “India fully supports the expansion of BRICS and welcomes move to move forward on this based on consensus," the Indian prime minister said.

investment bankers in India as the US advisory firm looks to beef up its operations in the world’s most populous nation, people familiar with the matter told Bloomberg. As per the report, the firm is looking to add bankers in ranging from associate to managing director in order to expand its team in India to about 25 people. These new positions will focus on sectors such as infrastructure and industrials, said the people to Bloomberg, who asked not to be identified as the information is private.

BRICS summit in South Africa later this year. The motivations behind this inclination toward BRICS are rooted in developing nations' dissatisfaction with the stringent conditions imposed by Western-dominated institutions.

If the last few years have taught us anything, it’s that businesses must constantly adapt and evolve in order to keep ahead of the competition. While the broader macro environment has led many businesses to shift their focus from raw growth to profitability, that doesn’t mean they can stop focusing on customer growth altogether.

Oman has launched a new digital asset mining facility, the second flagged off within months as it seeks to diversify the economy away from oil exports. 

Godawari Electric Motors on Tuesday said it plans to invest Rs 100 crore over the next three years to develop new electric products and bolster its sales infrastructure across the country. The Raipur-based firm on Tuesday forayed into the electric two-wheeler segment with the launch of Eblu Feo tagged at Rs 99,999 lakh. «We have invested around Rs 100 crore on the business so far.

BRICS summit will focus a lot on the plans of the expansion of the international grouping. Member nation China will be trying its best to push the BRICS bloc of emerging markets to evolves as a full-scale rival to the G7 this week, reported the Financial Times The BRICS summit will take place in Johannesburg from Wednesday. It will be joined by several leaders of of the developing countries.

BRICS and use of national currency are among key agendas of the discussion in the 15th BRICS Summit beginning here from Tuesday, India's BRICS Sherpa Dammu Ravi told in an interview. The 1989-batch Indian Foreign Service, who is currently serving as Secretary (Economic Relations) in the Ministry of External Affairs, said, «There are many issues that will be discussed in the Summit, including next expansion of Brics on the agenda and use of national currency for trading and economic activity amongst the BRICS member countries.» «As far as the agenda is concerned, there are many issues that are being discussed and also reported mostly the next expansion item on the agenda.

San Francisco has launched an autonomous shuttle service less than a week after regulators approved the expansion of robotaxis despite traffic and safety concerns

New Delhi: Fuel delivery platform FuelBuddy is looking at expanding its global footprint by foraying into Africa. FuelBuddy is an online platform providing doorstep delivery of fuel. Apart from transporting fuels, the company sells lubricants.

San Francisco has launched an autonomous shuttle service — less than a week after California regulators approved the expansion of robotaxis despite traffic and safety concerns. The free shuttle will run daily in a fixed route called the Loop around Treasure Island, the site of a former U.S. Navy base in the middle of San Francisco Bay.

New Delhi: Premium grocery retail chain Namdhari’s Agro Fresh Pvt. Ltd is looking to raise between $20 million and $30 million as it looks to scale beyond South India. Meanwhile, increasing competition from quick-commerce firms and online grocery delivery platforms is also prompting retailers like Bengaluru-based Namdhari’s to boost investments in their brand and scale operations.

Prime Minister Modi reiterated the commitment to further strengthen bilateral cooperation, including realising the full potential of Chabahar Port as a connectivity hub. Prime Minister Modi highlighted that the India-Iran relationship is underpinned by close historic and civilisational connections, including strong people-to-people contact.

Sichuan, a southwestern Chinese province, once recognized as a thriving crypto mining hub prior to the national ban on mining, is now looking to expand the metaverse industry.