Bengaluru: Leading online learning platform Byju's has acquired Epic, the world's leading digital reading platform for kids 12 and under, for $500 million. The big acquisition comes on the heels of it buying the Aakash Institute for nearly $1 billion earlier this year. The Epic deal was backed by General Atlantic, Sequoia Capital, the Chan-Zuckerberg...
New Delhi: The government has sought the Parliament's approval for an additional spending of Rs 1.87 lakh crore to meet its expenditure commitments made under various Covid relief measures and to provide higher allocation for the health sector. Finance Minister Nirmala Sitharaman presented the first batch of supplementary demands for grants in the Lok Sabha...
New Delhi: Indian investors, especially millennials, are increasingly scaling up their participation in the US markets for portfolio diversification, the UK-headquartered financial services firm Winvesta has said in its latest report. The Winvesta Investor Pulse Report' June 2021 is based on aggregated data from retail investors across India who invest in fractional shares of the...
Bengaluru: Flipkart Group has raised $3.6 billion in funding as it continues to grow and advance the digital commerce ecosystem in India. The investment values the group at $37.6 billion post-money. The fundraise demonstrated significant interest from global investors, including sovereign funds, private equity and crossovers in addition to Walmart, said a company statement. This round of...
Washington: The US budget deficit soared to $2.24 trillion during the first nine months of fiscal year 2021, which ends on September 30, the US Treasury Department said. Federal revenue for the nine-month period ending in June rose to 3.05 trillion dollars, while total outlays rose to 5.29 trillion dollars, driven by payments for jobless...
New Delhi: S&P Global Ratings has affirmed its lowest investment-grade sovereign rating (BBB-) for India with stable outlook, holding that the country’s recovery will gain pace through the second half of the fiscal year 2021-22 (FY22) and into the following year, helping stabilize its overall credit profile. “The stable outlook reflects our expectation that India’s...
Mumbai: The healthy growth in exports during the April-June quarter notwithstanding, the country's current account deficit could see a big turn in FY22, changing from a surplus position in Covid hit FY21 back to a deficit situation in the current year, a report on the country's trade position has said. According to a report from...
New Delhi: Amid reports that demands have been made from certain quarters to extend the deadline for submission of comments and suggestions on the draft e-commerce rules, the Confederation of All India Traders (CAIT) has described such requests as delaying tactics and said that there is no need for any extension of deadline. In a...
Washington: In a significant development, the US Department of Defense announced that the Pentagon has canceled a $10 billion JEDI (Joint Enterprise Defense Infrastructure) contract that was given to Microsoft in 2019, leaving the favourite Amazon out of the race during the Donald Trump administration. According to a report in CNBC, the Pentagon said that...
