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Indiabiz - India Biz Live

In a significant effort to combat climate change, India aims to remove a crucial phrase from the final draught of its National Electricity Policy (NEP), stopping the construction of new coal-fired power plants in addition to those already planned, according to sources.

Within a year, the Canadian e-commerce startup Shopify will reduce its employees by 20% through a second wave of layoffs. Additionally, Shopify intends to sell Deliverr, a division of its logistics business, to the end-to-end trading platform Flexport.

According to a Bloomberg article citing persons familiar with the situation, Adani Electricity Mumbai, a 100% owned subsidiary of Adani Transmission Ltd, is poised to announce a $100 million bond buyback soon.

A Series A fundraising round headed by Loyal VC and IvyCap Ventures earned $6.5 million for Hyderabad-based firm ZestIoT, which specializes in aviation technology. The business intends to utilize the money to establish a digital platform that would improve passenger convenience and speed up turnaround times for planes. ZestIoT also intends to increase its staff and broaden its market reach.

In the latest advertisement, RCB team players Virat Kohli, Glenn Maxwell, and Dinesh Kartik, can be seen dancing and enjoying upbeat music while being interviewed.

On Thursday (May 4, 2023), Nirmala Sitharaman, the finance minister, expressed confidence that Ajay Banga, the next president of the World Bank, will use his expertise in business to further the objectives of the international lending organisation.

Recent announcements from PhonePe include the debut of its UPI Lite functionality, which enables customers to start short transactions worth less than Rs 200 without entering a PIN. The PhonePe app has now gone live with an upgrade that seeks to make payments easier for users.

On Thursday (May 4, 2023), Tata Power is expected to release its March quarter results. Earnings from the renewable portfolio would gain from a greater capacity base and a solid performance at Tata Power Solar, according to brokerages like Kotak Institutional Equities.

In its first funding round, street culture e-commerce startup SoleSearch earned Rs 6 crore, which will be used to grow both its online and offline operations in the upcoming quarter. Notable investors including Venture Catalyst, Cornerstone Sports LLP, Anthill Ventures, and others took part in the financing round.

Leading higher ed-tech company, Jaro Education has released its first brand film, #AtkeMatRaho, which was created and produced by Social Panga. The campaign hopes to inspire and motivate professionals to realize their full potential and succeed in their careers through constant learning and skill development.

Gurpreet Singh Sandhu, the captain of Bengaluru Football Club and India’s top goalkeeper, has extended his contract with PUMA India for four more years.

According to statistics issued by S&P Global on May 3, India’s services industry expanded in April as the sector’s Purchasing Managers’ Index (PMI) increased to 62.0 from 57.8 in March.

In Bengaluru, 10,000 electric scooters will be distributed by Zypp Electric over the course of the next two months, with 2,000 of them currently in use. The deployment of the remaining 8,000 vehicles is a part of Zypp Electric’s strategy to expand its fleet to 2 lakh e-scooters by 2025 and offer its services in 30 cities throughout India.

Global audio series platform Pocket FM, located in Gurugram, India, has received $16 million in debt financing from Silicon Valley Bank, a bank with operations in the US that were taken acquired by First Citizens Bank in March. The Gurugram-based firm intends to utilize the money to grow the creative community, develop the audio series collection, and increase income. In March 2022, it received $65 million in Series C financing. The overall capital injection has climbed to $109.5 million with the addition of this new debt round.

On the strength of encouraging economic statistics from the nation, domestic equity markets increased their gains for the eighth session in a row and finished higher on Tuesday. Headline peers resisted the subdued global views. The NSE’s Nifty50 increased 82.65 points, or 0.46 per cent, to finish the day at 18,147.65, while the BSE Sensex increased 242.27 points, or 0.40 per cent, to close at 61,354.71.

Targeting millennials and Gen Z, The Coca-Cola Company’s Costa Coffee has updated its marketing strategy with ‘YOUXCOSTA COFFEE’ to encourage self-expression and interactions. The brand urged customers to be themselves whenever and wherever they wish to, using the hashtag #LetsGetBrewing.