SINGAPORE: India is using its public digital infrastructure, to take a leap into digital economy in a bid to achieve economic goals in the country and connect globally, India's High Commissioner to Singapore Jawed Ashraf has said. The envoy further noted that building digital connectivity and partnerships with Singapore and ASEAN countries, is a priority for India and highlighted how technology has been used effectively to achieve public policy goals in the country during COVID-19 disruptions. “We are using our public digital infrastructure, rated as the largest in the world, to take a leap into digital economy to achieve our public policy and economic goals at home and connect globally," Ashraf told an online Fintech forum this week. He highlighted India's several initiatives with Singapore such as interoperability of payment systems, with Singapore being the first country to see the launch of RuPAY in 2018 and BHIM QR at the Singapore Fintech Festival last year, and said … [Read more...] about India using public digital infra to achieve economic goals at home, connect globally: Jawed Ashraf
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Last week Hike Messenger , the messaging app, became the latest startup to join the so-called ‘unicorn’ pack in India—companies valued at at least $1 billion. Hike has been the fastest of the pack to reach the milestone, in just about three and half years after launch. It took e-commerce major Flipkart five years, rival Snapdeal seven years and analytics firm Mu Sigma nine years to become unicorns. Hike is also the lone company in the unicorn pack that is free. It is yet to make money. Hike will only “start to try making money by 2018, perhaps 2020”, says 28-year old founder Kavin Bharti Mittal. Yet, thanks to the $175 million collected from a clutch of overseas investors (see Plenty of Funds), the app is valued at $1.4 billion. Mittal believes the $175 million raised by Hike “is like Flipkart raising $1 billion. That’s the value we see and we are the only local rich messaging app with scale in the country.” Says Vishal Tripathi, … [Read more...] about Is Hike Messenger worth the hype and $1.4 billion?
Mumbai: Equity offerings involving Reliance Industries and its group units have topped the share sale chart across all listed companies globally so far in 2020. According to a study of Bloomberg data and company announcements of all equity offerings, the Mukesh Ambani-controlled conglomerate has mopped up $18.4 billion through this route. The other companies in demand have been US-based money manager Blackrock, in which shares worth $13.3 billion changed hands, and Regeneron Pharmaceuticals, in which stake worth $11 billion was picked up. Other companies whose big chunks of shares have found takers include Singapore Airlines, Brazil’s Petrobras and US-based Southwest Airlines. The highest equity offering in a year was from Saudi Arabia’s oil giant Aramco, which raised about $29.4 billion last December through initial public offering, beating previous record of Alibaba Group Holding’s $25 billion in 2014. Reliance Industries has announced a flurry of share sales as … [Read more...] about At $18.4 billion, RIL tops global share sale chart this year
ZF Friedrichshafen AG has announced that it has completed the $7 billion acquisition of WABCO. As it said, WABCO will be integrated into ZF as its Commercial Vehicle Control Systems Division.The company also said that ZF and WABCO will form global integrated systems for commercial vehicle technology. The WABCO name will live on in the aftermarket similar to TRW, which ZF acquired for $12.4 billion back in 2015.Wolf-Henning Scheider, CEO of ZF Friedrichshafen AG, said, "The combination of these two successful enterprises will bring a new dimension of innovation and capability for commercial vehicle systems technology. Thanks to our perfectly complementary portfolios and competencies, we are able to offer unprecedented solutions and services for manufacturers and fleets globally. In this way, we are actively shaping the future of the changing transportation industry."He also said, "Together, we will create added value for our customers, employees and shareholders alike. This acquisition … [Read more...] about ZF completes $7 billion WABCO deal
Google had in January announced a partnership with Bharti Airtel Ltd to extend its G Suite services to Airtel subscribers. The US internet giant has been working closely with the enterprise team at Airtel for a few years now. However, Google could potentially be hedging its bets with an investment in Vodafone Idea. … [Read more...] about Google stake in Voda-Idea could heat up race for digital ecosystem