After listing 50k kiranas, Flipkart to hire 70k delivery executives, packers, sorters this festive season
Walmart-owned Flipkart has said that its biggest annual sale event The Big Billion Days will help create more than “70,000 direct and lakhs of indirect seasonal jobs.” The direct jobs will come up in areas including the company’s supply chain involving delivery executives, pickers, packers and sorters while the indirect jobs will be created at Flipkart’s seller partner locations and kiranas. “This will be further supplemented by job creation in ancillary industries including vendor locations, and freight partners,” Flipkart said in a statement on
(Bloomberg) — Alibaba Group Holding Ltd. is in talks to invest $3 billion into Southeast Asian ride-hailing giant Grab Holdings Inc., according to people familiar with the matter.
The Chinese e-commerce giant, a sole investor in the round, will spend a portion of the funds to acquire some of the Grab stock held by Uber Technologies Inc., one of the people said, asking not to be named as the discussions are private. The deal may represent one of Alibaba’s biggest bets on Southeast Asia since its first investment in Lazada in 2016.
China’s largest corporation has previously had limited forays
(Bloomberg) — It was meant to be the week when OPEC nations gathered in Baghdad to celebrate the cartel’s six decades as a dominant force in global oil markets.
Instead, the Organization of Petroleum Exporting Countries and its allies will convene online, and reflect on whether the coronavirus has thwarted their best efforts to keep the market afloat.
After reviving crude prices from an unprecedented collapse over the spring, OPEC+ is seeing the recovery stall and fuel demand falter as the deadly pandemic surges once again. Prices slipped below $40 a barrel last week for the first time since June.
Atmanirbhar Bharat report card: Rs 25k cr disbursed to farmers, Rs 1.18 lakh cr credited to MSMEs so far
The Ministry of Finance on Sunday shared an update on the progress of the multiple schemes under the Rs 20-lakh-crore Atmanirbhar Bharat package announced by Prime Minister Narendra Modi in May. According to the ministry, Rs 25,000 crore has been disbursed to farmers as on August 28, 2020, under the Rs 30,000 crore additional emergency working capital funding through National Bank for Agriculture and Rural Development (NABARD). The remaining Rs 5,000 under the Special Liquidity Facility (SLF) was allocated to NABARD by the Reserve Bank
Coming soon, credit guarantee scheme, seed fund for startups; DPIIT working on solving funding issues
The Department for Promotion of Industry and Internal Trade (DPIIT) is looking at introducing two new schemes to solve credit-related challenges for early-stage startups in India. According to DPIIT Secretary Guruprasad Mohapatra, an inter-ministerial consultation process is underway to frame the contours of a credit guarantee scheme and a seed fund scheme, PTI reported. Under the credit guarantee scheme, the government would provide a corpus to banks through which the credit would be disbursed into startups.
(Bloomberg) — As Angela Merkel weighs up the arguments for scrapping a Russian pipeline project, a cornerstone of the German chancellor’s carefully crafted energy strategy is at stake.
Merkel is coming under increasing pressure to ditch the Nord Stream 2 pipeline after the poisoning of Russian opposition politician Alexey Navalny. Members of her own party have questioned the project and Polish Prime Minister Mateusz Morawiecki said the decision should be a “no brainer.”
But cancellation would mean unwinding years of government strategy to turn Germany into a lucrative gas hub as it boosts supplies of the fossil fuel during the
Converting crisis into opportunity: PM Modi inaugurates 1.75 lakh houses; time for making houses halved
Prime Minister Narendra Modi today said that the time for completion of houses under PMAY-G has been cut from 125 days to a mere 45-60 days during the pandemic, which is a classic example of converting the coronavirus crisis into an opportunity. Narendra Modi inaugurated 1.75 lakh houses built under the Pradhan Mantri Awas Yojana on Saturday. The Modi government had promised “Housing for All by 2022”, for which a flagship programme of PMAY-G was launched in November