Jabong’s parent company, Global Fashion Group, has secured a $346 (EUR 300m) million from Kinnevik and Rocket Internet. While Rocket Internet will underwrite around EUR 100 million of the financing, it will invest around EUR 85 million including the conversion of an existing investment at the terms of the financing.
It’s a sign on the changing times. HMT, one of India’s most beloved watchmakers, has finally shut down its last factory in Tumkur. With it, HMT watches, once a staple for young men across the country, will become a thing of the past.
They say that whatever happens, you can’t escape death or taxes. But that doesn’t seem to hold for 99% of India’s population.
In addition to the roads in the cities around India, Uber and Ola will now battle it out in the courtroom. Uber has sued Ola for $7.5 million for trying to sabotage its platform by repeatedly making fake bookings and then immediately cancelling them.
Shoplifting or the act of stealing things from a shop isn’t uncommon. Thousands of such cases are reported and many more that go unnoticed or unreported. While there have been a few instances of shop keepers or onlookers publishing videos of shoplifting activities of late, this recent footage from a store in Hyderabad is quite shocking as well as amusing.
The most valuable company in the world has had an incredible few years. It’s broken records year quarter after quarter, and its earnings and stock price have soared. But this quarter was different.
In a sign of India’s growing prominence as a market for Amazon, its India MD, Amit Agarwal has found a place in CEO Jeff Bezos’ core team.
India’s first small finance bank has taken birth in the prosperous northern state of Punjab. Named Capital Small Finance Bank Ltd (CSFB), the bank has its headquarters in Jalandhar and has commenced operations with 10 branches.
Uber’s been in the eye of a storm recently over the government’s intervention in its operations. But a recent Uber response to a customer complaint could throw some interesting insights into the matter.