Priyanka Bhowmick, Author at

04 Feb

Mukesh Ambani’s Reliance, Disney working on terms to merge media operations in India: Report

Priyanka Bhowmick0 CommentsBusiness

Indian businessman Mukesh Ambani, who is renowned for his Reliance Industries, is once again planning to establish the largest media empire in India. The largest media empire will be set up with around 100 TV channels and two streaming platforms by merging of Jio Cinema and Disney Hotsar, two domestic giants in the digital streaming space. As per the Economics Times report, negotiations to merge Reliance Industries with Walt Disney are currently in the next phase. Additionally, Star India and Viacom18's merger agreement is almost done. Jio Cinema had previously purchased the IPL rights from Disney Plus Hotstar, which was…

04 Feb

PM Modi makes tourism pitch in Assam, unveils projects to boost connectivity

Priyanka Bhowmick0 CommentsBusiness

PM Narendra Modi introduced development projects worth Rs 11,600 crore in Assam on Sunday. The infrastructure projects, funded by both the state government and the Centre, were announced at an event at the Veterinary College Playground in Khanapara, Guwahati. Some major projects for which foundation stones were laid include the six-lane road from the new airport terminal in Guwahati (Rs 358 crore), Kamakhya temple corridor (Rs 498 crore), a new sports complex in Chandrapur (Rs 300 crore), and the upgradation of Nehru Stadium to FIFA standards (Rs 831 crore). The second edition of 'Asom Mala' roads was also kicked off…

03 Feb

Bikaji Foods reports strong Q3 profit surge amid soaring demand for packaged sweets and snacks

Priyanka Bhowmick0 CommentsBusiness

Packaged snacks and sweets major Bikaji Foods International posted a robust 14.4% increase in its third-quarter profit on Friday. The spike in profit is attributed to the increase in demand for its varied range of packaged sweets and snacks. The consolidated net profit for the three months ending December 31 totalled to Rs 46.62 crore, marking a incredible rise from Rs 40.74 crore recorded in the corresponding period the previous year. The festive season, starting from October and ending in November, witnessed a notable uptick in consumer purchases of snacks and sweets, contributing significantly to Bikaji Foods' third-quarter financial performance.…

02 Feb

Rs 2,000 banknotes remain legal tender even as 97.50% of circulating banknotes return to RBI

Priyanka Bhowmick0 CommentsBusiness

The Reserve Bank of India (RBI) on Thursday issued a statement that around 97.50 % of Rs 2,000 banknotes have been returned till January 31, 2024. Whereas the amount of Rs 2000 banknotes is still in circulation in the economy which stood at Rs 8,897 crore, however RBI mentioned that Rs 2,000 banknotes will continue to be legal tender. As of January 31, 2024, the total amount of Rs 2,000 banknotes in circulation has significantly reduced to Rs 8,897 crore from the Rs 3.56 lakh crore reported at the close of business on May 19, 2023, the RBI said in…

31 Jan

Baba Ramdev’s wax impression unveiled, to adorn Madame Tussauds Museum in New York

Priyanka Bhowmick0 CommentsBusiness

Baba Ramdev's wax impression statue which has been carved in the Vrikshasana pose( standing on one leg with the other leg bent and the sole of the foot resting against the inner thigh of the standing leg) was unveiled on Tuesday at the event in Delhi in the presence of Baba Ramdev. Swami Baba Ramdev's iconic wax statue has find place in Madame Tussauds Museum New York and it's a moment of pride for him as well as all Indians. On the occasion, Baba Ramdev said, "I feel honoured that my wax statue is being installed at Madame Tussauds in…

29 Jan

Louis Vuitton owner just surpassed Elon Musk to become World’s richest person

Priyanka Bhowmick0 CommentsBusiness, InternationalBusiness, International

Moet Hennessy Louis Vuitton (LVMH) chairman and CEO Bernard Arnold has overtaken Elon Musk to become the world's richest man. According to Forbes, the French billionaire and his family's net worth increased by $23.6 billion to $207.6 billion. On Friday, Mr. Arnault's net worth exceeded the Tesla CEO's $204.7 billion net worth, which fell 13 percent with Mr. Musk losing more than $18 billion, the report added. The two billionaires have been engaged in a tug-of-war of wealth since 2022, with Mr Arnault said to have taken the top spot later that year. The report revealed that the market capitalization…

28 Jan

US Company Signs Deal With UP Tourism For 100-Room Resort In Ayodhya

Priyanka Bhowmick0 CommentsBusiness

The Uttar Pradesh Tourism Department has entered in an agreement with the American firm M/s Anjali Investment LLC for the construction of a 100-room resort in Ayodhya. State Tourism and Culture Minister Jaiveer Singh said after the consecration ceremony of Ram Lalla, Ayodhya is witnessing an unexpected increase in the visits of devotees and tourists. The state government is working to enhance the visit of tourists, and to help them in availing lodge in the temple town, he said. He said land has also been selected for the construction of resort, adding that the investment policy of the tourism department…

27 Jan

Ola founder’s Krutrim becomes first AI unicorn startup

Priyanka Bhowmick0 CommentsBusiness, IndiaBusiness, India

Krutrim, a homegrown AI company of Ola's Bhavish Agarwal, on Friday announced that it has successfully closed its first funding round with a significant $50 million investment. Led by key investors including Matrix Partners India, the round valued Krutrim at $1 billion, making it India's fastest unicorn and the country's first AI unicorn. On the announcement, Agarwal said, "At Krutrim, we are committed to building India's first complete AI computing stack. We are thrilled to announce the successful completion of our first funding round, which not only validates the potential of Krutrim's innovative AI solutions but also underscores investors' confidence…

25 Jan

Zomato stopped delivery of non-vegetarian food on Ayodhya Ram Mandir event day after ‘govt notice’

Priyanka Bhowmick0 CommentsBusiness

Food delivery company Zomato has announced that it suspended the delivery of non-vegetarian food items in Uttar Pradesh, Assam, ⁠Chhattisgarh, Madhya Pradesh, and Rajasthan on January 22 as per a government notice. The day marked the inauguration ceremony of the Ayodhya Ram Mandir. The matter came into light after an X user pointed out that non-vegetarian items were not available for delivery on Zomato. To which, the company's customer care handle replied, "Hi, we have disabled delivery of non-veg items in Uttar Pradesh, Assam, ⁠Chhattisgarh, Madhya Pradesh and Rajasthan as per govt. notice. Hope this clarification helps!" The decision did…

25 Jan

Microsoft’s market cap crosses $3 trillion

Priyanka Bhowmick0 CommentsBusiness, IndiaBusiness, India

Microsoft joined Apple as a three-trillion-dollar company on Wednesday, as its big bet on artificial intelligence continues to sway Wall Street.Now the world's second-largest company by market capitalization, Microsoft's shares rose 1.31 percent to $404.Apple ranks first at $3.02 trillion after reaching the $3 trillion market capitalization mark for the first time in January 2022. But it has fallen short of the milestone, even briefly losing its pole position as the largest company in the market when Microsoft briefly overtook the iPhone maker earlier this month. Microsoft is riding the wave of excitement over AI more than any other tech…