Co-founder and chief executive Ashish Hemrajani tweeted on Thursday that 200 of the "most incredibly talented & performance driven individuals" were laid off, and urged people across industries to give him leads on vacancies
While KOO claims itself to be an Indian registered company, ethical hacker Elliot Alderson posted screenshots of the domain (kooapp.com ) registered on April 16, 2017 by Tao Zhou from China
As of launch, the TVoD (transaction video-on-demand) service has 600 films available on it. The platform hopes to offer its customers over 2,000 movies over the course of the next 9-12 months
San Jose, California-based PayPal will instead focus on its cross-border payments business, which means global customers will still be able to pay Indian merchants using the service
Datastore of Juspay, a Bengaluru-based start-up was compromised in August 2020, resulting in the breach of over 3.5 crore records
Service firms and new age companies such as MakeMyTrip, Droom and BookMyShow are restoring the compensation of their employees to the original level; Future Retail has filed an urgent caveat petition before the Delhi High Court in anticipation of legal action by Amazon against its deal with Reliance Industries; Gita Gopinath, chief economist of the International Monetary Fund (IMF), has pitched for fiscal stimulus to mitigate the economic impact of coronavirus crisis. Watch this and more on News Blast.
IMF's Gita Gopinath bats for fiscal stimulus to revive global economies
Gita Gopinath, chief economist of the International Monetary Fund (IMF), has pitched for fiscal stimulus to mitigate the economic impact of coronavirus crisis, citing the pandemic has pushed the global economy in a liquidity trap. Gopinath highlighted that central banks across the world have taken strong measures to improve liquidity situation and have brought down policy interest rates aggressively, leaving little space for further easing if another shock strikes.
Economic data pointing towards rebound, says FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman has said that although recent economic data points towards a rebound in the economy, sustaining the numbers in the coming months will make revival certain. FM Sitharaman expressed hope that as the current year marred by COVID-19 pandemic comes to an end, the Centre's interventions in the form of economic reforms are working, and the measures will continue with a strong emphasis on infrastructure.
MakeMyTrip, Droom, BookMyShow roll back salary cuts
As businesses are gradually moving back to normalcy, some service firms and new age companies such as MakeMyTrip, Droom and BookMyShow that had announced pay cuts earlier this year are restoring the compensation of their employees to the original level. MakeMyTrip Group restored the compensation for all frontline and mid-level employees effective July and for the senior executives from the month of September across its three entities: MakeMyTrip, GoIbibo and Redbus.
PM Narendra Modi to chair Virtual Global Investor Roundtable on Nov 5
Prime Minister Narendra Modi will on Thursday chair a Virtual Global Investor Roundtable. The platform provides an opportunity to the leading global investors and Indian business leaders to engage with senior policy makers on further accelerating the growth of international investments in the country. It is an exclusive dialogue between leading global institutional investors, Indian business leaders and the highest decision makers from the government of India and financial market regulators.
Future Retail moves Delhi HC to check any Amazon plea over RIL deal
Future Retail has filed an urgent caveat petition before the Delhi High Court in anticipation of legal action by Amazon against its deal with Reliance Industries. In its plea, the Kishore Biyani-led company has requested to be heard before any order is passed regarding its deal with the retail arm of the Mukesh Ambani-led conglomerate.
Worried what will happen when festivals are over: Rajiv Bajaj
Bajaj Auto MD Rajiv Bajaj has said that positive auto sales figures are numbers of the wholesale sector and that there's a bit of struggle in the retail segment. He said the motorcycle industry has seen no positive year-on-year growth since the pandemic began in India in March. The auto giant chief said he's worried about the retail sale numbers once the festive fervour subsides.
In addition to restoring salaries, companies are also doing appraisals now as many had deferred the year-end appraisals that happen around March or April
The company expects RazorpayX and Razorpay Capital to contribute 35 percent of its revenue, with a 100 percent increase in the company's count of partner businesses
Named BookMyShow Online, the platform will allow people access to live events and performances across comedy, music and other performing arts
The survey titled Back To Out-of-Home Entertainment had 4,000 respondents who are active users of BookMyShow services. It was conducted in May 2020 and all respondents were between the ages of 18 to 36
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