Abu Dhabi Investment Authority has joined active discussions for a minority stake in Jio Platforms as cash-rich sovereign wealth funds from the Gulf proactively seek out deals around the world, people familiar with the matter said. ADIA follows Mubadala, the sister firm of the UAE’s largest sovereign wealth fund, which has already been in negotiations […]

Senior Facebook employees used Twitter over the weekend to express their dismay at Chief Executive Officer Mark Zuckerberg’s decision not to take action on incendiary comments posted to the social network by U.S. President Donald Trump. After the president tweeted a message with the words “when the looting starts, the shooting starts” in response to […]

Walmart‘s Indian e-commerce unit Flipkart said on Monday it would re-apply for a food retail license in India after reports said its earlier proposal was rejected by the government last week. India’s Department for Promotion of Industry and Internal Trade (DPIIT) last week rejected the e-tailer’s proposal to sell food products through online and mobile […]

Illustration: Rahul Awasthi Munich Re Ventures, the strategic corporate venture capital arm of Munich Reinsurance, is in the final stages of leading a $60-70 million financing round in Acko Technology, people in the know said. The funding is expected to value Acko at around $400-$500 million, these people said on the condition of anonymity. Other […]

Illustration: Rahul Awasthi Consumers in smaller cities and towns are increasingly using online grocery delivery services and are shopping for higher-value basket sizes compared to the top seven cities, at least six companies in the sector told ET. A fear of the Covid-19 pandemic as well as closure of many physical stores, coupled with non-availability […]

Illustration: Rahul Awasthi Consumers in smaller cities and towns are increasingly using online grocery delivery services and are shopping for higher-value basket sizes compared to the top seven cities, at least six companies in the sector told ET. A fear of the Covid-19 pandemic as well as closure of many physical stores, coupled with non-availability […]

Surrounded by hills, Nandanam village in Chittoor district of Andhra Pradesh had never experienced Internet connectivity before. Babu Reddy, a village-level entrepreneur who runs a digital kiosk or Common Service Centre, is however providing high-speed Fibre-to-Home connections to citizens now, utilizing the BharatNet fibre backbone, which is transforming the life of the villagers, especially its […]

Illustration: Rahul Awasthi Nasdaq-listed MakeMyTrip has laid off 350 employees, as India’s largest online travel operator struggles to survive the fallout from the Covid-19 pandemic, which has ravaged the travel, tourism and hospitality sector globally. The layoffs have been primarily undertaken in non-tech functions such as international holidays and related segments, and is across units, […]

Happy Monday! TikTok is going through a rough patch in India. Fewer people downloaded the Chinese video-sharing app in April and May compared to the previous two months amid reduced marketing and advertising spend due to the Covid-19 pandemic. The platform has been widely criticized on social media following a fight between two content creators, […]

The government has rejected Flipkart’s proposal to enter the food retail business, citing regulatory issues. Last week, almost a year after Flipkart FarmerMart filed its application, the department for promotion of industry and internal trade (DPIIT) wrote to the Walmart-controlled company that it cannot be allowed into food retail — which was carved out as […]