Chinese directors of firm associated with Vivo flee as ED continues raids

New Delhi (IANS) As the Enforcement Directorate (ED) continued searches at the premises of Chinese companies, including smartphone maker Vivo, at 44 locations in 22 states on Wednesday, the directors of one of the companies associated with Vivo have…

ED notices to CoinSwitch, CoinDCX; seeks info under FEMA

New Delhi (IANS) A few firms, including CoinSwitch and CoinDCX dealing in cryptocurrency have been asked by the Enforcement Directorate (ED) to submit some documents in connection with an ongoing case of the Foreign Exchange Management Act (FEMA).

Ola likely to lay off up to 500 employees in cost-cutting exercise

New Delhi (IANS) As Bhavish Aggarwal focuses his energies towards Ola Electric, the ride-hailing platform Ola is planning to lay off up to 500 employees across departments as it aims to cut cost and streamline operations amid the ongoing funding winter.

Indian job mkt sees record 22% Y-O-Y growth in June'22: Report

New Delhi (IANS) Hiring activity in India has shown an upward growth trajectory with a record 22 per cent year-on-year growth in June 2022 compared to last year, according to a report on Tuesday.

The report Naukri JobSpeak Index showed that…

Iron Pillar to raise $400 mn to empower Indian tech startups: Report

New Delhi (IANS) Leading investment company Iron Pillar, which backs tech startups in India, is reportedly raising nearly $400 million to further help boost the country's startup ecosystem, the media reported on Monday.

Iron Pillar provides…

Over 22K techies lose jobs in US, more than 12K in Indian startups

New Delhi (IANS) As the tech and startup sector gets hammered by economic meltdown, more that 22,000 workers in the sector have lost jobs in 2022, along with more than 12,000 in the Indian startup ecosystem.

Startups, especially the ones who…

Large borrowers' loan accounts and bad loans decline: RBI

Chennai (IANS) The share of large borrowers for scheduled commercial banks (SCB) has declined in the recent times while their share in the gross non-performing assets (GNPA) also went down, said the Reserve Bank of India (RBI).

According to…

Ola Electric slips to 4th spot as EV registrations fall amid fire fears

New Delhi (IANS) As customers delay purchasing electric two-wheelers amid fire incidents, Ola Electric again saw its registration dipping in the month of June, taking the company to fourth place in the overall category.

Bhavish Aggarwal-run…

Telecom gear firm Parallel Wireless lays off 500, including in India

New Delhi (IANS) Telecom gear provider Parallel Wireless has laid off at least 500 employees in India, Israel, the UK and the US.

Parallel Wireless is one of the leading vendors in the open Radio Access Network (RAN) industry and last had at…

Top NFT marketplace OpenSea admits email data breach

New Delhi (IANS) Leading non-fungible token (NFT) marketplace OpenSea has admitted a major email security breah, warning users that they may have been impacted.

In a blog post, OpenSea said it learned that an employee of Customer.io, its email…