INDIAN GROCERIES LONDON PRICES
Zepto a ‘hyperlocal Walmart of India’, says CEO Aadit Palicha
Zepto, a quick commerce platform in India, raised $665 million in funding, valuing the company at $3.6 billion. The CEO sees Zepto as a hyperlocal Walmart focusing on groceries and household essentials. The company plans to expand its dark stores to 700 to compete with rivals like Blinkit and Swiggy Instamart. Zepto aims to capitalize on the massive market opportunity in the top 40 cities of India.
Indian eateries now New York's gastronomic toast
They are among the notable, far-ranging Indian dining spots around town, many at the higher tiers of the price spectrum. Collectively, Indian restaurants are becoming something of a power dining scene, drawing customers from the upwardly mobile population of New Yorkers with roots in the subcontinent. To this already impressive list, you can now add Kanyakumari, which dishes out delicacies from India's 4,700-mile coastline at the more easily accessible Union Square.
Gilts to shine brighter from tomorrow
JP Morgan will include 27 fully accessible Indian government bonds in its GBI-EM global index suite starting June 28, allowing global investors to deploy funds in these bonds.
Mangoes at Rs 2400, bhindi at Rs 650 per kg: Indian groceries in London vs India leave netizens SHOCKED. Viral Video
A viral video on Instagram showcased the exorbitant prices of Indian groceries in London, shocking viewers. Items like Lay's Magic Masala, priced at ₹95 compared to ₹20 in India, and Alphonso mangoes at ₹2,400 for six pieces highlighted the steep cost differences. The video sparked online discussions about income disparities, purchasing power parity, and the economic context behind these price variations, leaving many consumers astonished at the price tags in London's Indian grocery stores.
REC to raise $500m through green bonds, concludes roadshow in London
The proceeds will be used to fund renewable energy projects. REC will use its internal system to monitor and allocate the green bond proceeds, as outlined in its green bond framework.
Karnataka defends fuel price hike amidst growing outrage; BJP to protest statewide
While Industries minister MB Patil on Sunday defended the hike, saying the money was necessary for funding the state’s guarantee schemes, citizens took to social media to express their dissatisfaction, with the topic generating over 11,000 posts on X.
Gold rush grips Asia despite near-record prices
Gold demand in Asia is increasing despite near-record high prices, driven by geopolitical and economic uncertainty. Spot gold trades over $2,300 per ounce, up 12% year-to-date, and 6% below the record high. Lower confidence in real estate and equities also fuels the demand.
Maharashtra, Karnataka, Delhi top UK's investment flows from India: Report
Maharashtra, Karnataka, and Delhi led in bringing foreign direct investment (FDI) to the UK, per a CII and Indian High Commission joint report. The report highlighted the contributions of Indian companies in various sectors, showcasing their positive impact on the UK economy, job creation, and cultural diversity. Additionally, it notes the significant economic ties between India and the UK, with India being the UK's second-largest source market.
Stock prices of new-age firms swing on poll results
Major new-age companies including Zomato, Paytm, Delhivery, Nykaa and PB Fintech saw their stock prices plummet on Tuesday. However, as the broader markets recovered some losses on Wednesday, these stocks also saw their prices rise. This plunge followed massive gains on Monday when exit polls had suggested a clear mandate for the ruling Bharatiya Janata Party (BJP).
London consulate attack protest date advanced after crackdown on Amritpal, reveals NIA probe
The investigation into the 2023 attack on the Indian consulate in London has taken a new turn with revelations that the protest date was moved up to March 19, 2023, from March 22, 2023. This change was reportedly prompted by a crackdown on radical preacher and Waris Punjab De (WPD) chief Amritpal Singh by the Punjab police the previous year.
Sinking profits bring reality check to AI-driven rally in emerging market stocks
Unilever Plc’s Indian unit reported a 5.5% drop in net income for the first quarter, missing analyst estimates. Behind the decline was sluggish rural demand combined with high net-worth urban consumers pivoting to other brands. Similar trends can be seen elsewhere, with Chilean retailer Cencosud SA, restaurant chain operator Yum China Holdings Inc. and Swiss-South African jeweler Compagnie Financiere Richemont SA all delivering weaker-than-expected results.
ET Explains: Why RBI keeps gold abroad?
The Reserve Bank of India (RBI) has been aggressively buying gold this year, purchasing one and a half times the amount bought in the whole of 2023 in just the first four months of this calendar year. A big portion of this gold is held overseas, but the RBI is now planning to bring back a portion of these reserves. This move comes amid risks following the West freezing Russian assets. The RBI holds 822.10 metric tonnes of gold, with 387.26 metric tonnes kept in safe custody with the Bank of England and the Bank for International Settlements (BIS).
Why Mukesh Ambani can't ignore a new consumer habit
Reliance Industries (RIL) chairman Mukesh Ambani is expanding the company's retail empire to include quick commerce services through JioMart. This move aims to compete with players like Blinkit and BigBasket, leveraging Reliance's extensive reach and resources. The shift towards quick commerce reflects changing consumer habits, favoring convenience and instant deliveries.
Financial Times report against Adani Group is just for noise: Cantor Fitzgerald
Cantor Fitzgerald dismisses recent Financial Times report on Adani Group as market noise, indicating investors' confidence remains intact. Adani Enterprises' shares surged 8.2% following the allegations, marking a tenth consecutive day of market capitalization gains. Adani Group refuted the accusations, citing contractual obligations and rigorous testing processes, while Cantor highlighted discrepancies in the FT report's sources and noted India's growth trajectory as favorable for Adani Enterprises despite controversies.
Appropriate price discovery in IPO: Semi-public market could be a solution
The Semi Public market proposal aims to enhance price discovery and transparency before IPOs, offering early liquidity. Despite regulatory challenges, it could reduce volatility and improve scientific price discovery in IPO markets, serving as a potential final solution.
ICC rights may bleed Disney's streaming entertainment business
Disney's streaming profit faces loss due to ICC rights on Disney+ Hotstar. Iger expects weaker Q3 tied to Indian sports. Zee Entertainment disputes ICC TV rights in arbitration.
Last-Minute Mother’s Day Gifts (2024): Express your Love with Thoughtful Tokens of Appreciation
In a rush to find the perfect gift for mom this Mother's Day? Look no further than this selection of last-minute Mother's Day gifts. From elegant watches to luxurious perfumes and pampering gift sets, we have curated a list of thoughtful presents that will show your appreciation for all that she does. So, don't let time slip away – make her day memorable with a thoughtful last-minute gift that she'll cherish forever.
Embassy attacker visited India in December with family, say officials
NIA investigations in the case so far have revealed that the incidents in London on 19th March and 22nd March last year were parts of a larger conspiracy to unleash attacks on the Indian missions and its officials. The attacks in London in March 2023 were found to be in retaliation to the action taken by Punjab Police against pro-Khalistan separatist Amritpal Singh on March 18, 2023
Behind London Stock Exchange's move to list crypto ETNs in May
After the US permitted cryptocurrency securities trading, the UK's London Stock Exchange plans to introduce bitcoin and Ethereum exchange-traded notes, pending UK regulator approval, boosting investor confidence.
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