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Fire breaks out at ONGC plant in Surat

A fire broke out at an Oil and Natural Gas Corporation (ONGC) plant here in Surat in early hours of Thursday. More details are awaited ...
The Economic Times
English EditionEnglish Editionहिन्दीગુજરાતી
| 24 September, 2020, 07:38 AM IST | E-Paper
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    Unfortunate that investing has turned political, globally: Naspers' Bob van Dijk

    India banned 59 Chinese origin apps last month, including TikTok, and there have been reports suggesting that the United States could follow suit, amid a larger US-China trade war that has been raging between the two countries for some time.

    PayU India’s head of fintech investments Amrish Rau steps down

    In a series of tweets on the popular microblogging platform, Rau said it was “...

    Ola Financial gets Rs 205 crore from Falcon Edge, Matrix Partners

    Apoletto Managers, and Arun Sarin's family office also participated in the ...

    • The Competition Commission of India has dismissed allegations of unfair business practices against PayU Payments and Wibmo. It was alleged that PayU has intentionally foreclosed the market for other competitors by denying them proper access to Wibmo in the downstream market and has substantially created entry barriers for new market players.

      Concerned that working without timeoffs is taking a toll on its workforce amid the Covid-19 pandemic, some of the biggest companies in the country are giving employees surprise "wellness day-offs" or actively encouraging them to take casual leaves.

      MobiKwik is fighting a broader battle against deep-pocketed rivals such as Paytm, PhonePe and GPay.

      While Pine Labs does not have a high cash burn, the additional capital raised will help it expand in the lending space.

      Founded by Anand Rajaraman and Venky Harinarayan, both of whom were serial entrepreneurs and have also worked in senior roles across Amazon and Walmart, Rocketship.vc claims to use machine learning and data science to identify and place its bets across sectors and geographies, rather than banking on personal meetings, as is the norm, to strike deals.

      The transition comes at a time when firm’s rivals are closing the gap.

      The company, a subsidiary of Netherlands-based PayU, is undergoing a major leadership transition.

      The platform will also help employees understand taxation related to sale of Esops, and exit procedures. For startups, MyStartupEquity will help founders from a compliance reporting standpoint, a significant chunk of which is still done manually.

      Naspers-owned firm intends to own entire payment process through this acquisition; deal pegged at $60 m

      Verlinvest, which has largely made direct investments in India and counts companies such as Byju’s, Veeba, Epigamia and Future Retail among its portfolio, has also backed certain funds, including those operated by Everstone Capital and DSG Consumer Partners..

      PayU India’s CEO Amrish Rau is transitioning into a broader role as the head of financial technology partnerships and investments for Naspers’ fintech business, the company's South African parent.

      With this, PayU's fintech investment has crossed the $500 million mark, the company said, adding the investment has helped it reach within the top five leading global fintech investors over the last two years.

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