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MUMBAI: Zepto’s $1 billion IPO is a step closer to hitting Dalal Street with markets regulator Sebi giving it a go ahead for the issuance, details published on its website showed. The company which rivals Eternal’s Blinkit and Swiggy Instamart in India’s $10-11 billion quick commerce market (in terms of GMV or sales before the…
Special Intensive Revision (SIR) was definitely the biggest talking point of the West Bengal election. The final result was nothing short of a political earthquake, with BJP winning 207 seats, surpassing most expectations, the mighty TMC humbled to 80, and other parties reduced to a mere footnote.The anti-incumbency was so acute that it probably blew…
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BENGALURU: Urban Company’s push into instant domestic services dragged the company deeper into losses in the March quarter, as the home services platform ramped up spending to compete with fast-growing rivals such as Pronto and Snabbit in the emerging category.The Gurugram-based company reported a consolidated loss of Rs 161 crore for the March quarter, compared…
European Central Bank (ECB) President Christine Lagarde argued against the need for privately-issued euro-pegged stablecoins, even in the face of a market which is 98% dominated by dollar-pegged tokens. Despite the rapid global adoption of USD stablecoins, Largarde argued Europe should focus on building tokenized settlement infrastructure anchored in central bank money rather than simply…
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India’s forex reserves rise to $658.09 billion India’s foreign exchange reserves declined by $7.794 billion to $690.693 billion during the week ended May 1, according to data released by the Reserve Bank of India (RBI) on Friday.The reserves had fallen by $4.82 billion in the previous reporting week ended April 24, taking the overall forex…
