South Korea-based automobile manufacturer SsangYong Motor Company is planning to sell its Pyeongtaek plant as part of self-rescue efforts, the local government said on Saturday. The debt-ridden automaker's Indian parent Mahindra & Mahindra failed to look for a buyer for its 75% stake in the automaker. We will actively support SsangYong Motor to grow into a global company, says SsangYong.

WhatsApp plans to give more control to users while sending and receiving media, as it is allowing users to control the amount of compression applied on their photos and videos. At present, the instant messaging application compresses the size of photos and videos transferred on the application thereby degrading the picture quality by three formats namely- “Auto,” “Best quality,” or “Data saver.

Finance chiefs of the G20 large economies inscribe a landmark move to prevent multinationals from moving profits to low-tax havens at talks on Saturday where they also advised that coronavirus variant risking the global economic recovery. They also considered the need to ensure fair access to vaccines in poorer countries. But a draft communique to be rubber-stamped at the Italian meeting.

Realty firm Godrej Properties Ltd (GPL) decided to induce over $1 billion in the next couple of years to take over and build new projects as part of its target to achieve higher growth, its Executive Chairman Pirojsha Godrej has said. Addressing shareholders in the company's annual report, he asserted that Godrej Properties was "India's largest developer by the value and volume of sales.

The impact of the second wave of coronavirus led to concerns over the recovery of the microfinance (MFIs) and the small NBFC sector, which was already struggling with elevated credit stress and declining AUM in FY21. Accordingly, out of thirteen issuers declining by credit rating agencies during Q1FY22 in the financial sector, ten issuers are smaller MFI and NBFCs providing unsecured MSME loans.

Equitas Small Finance Bank on July 10 declared in a regulatory filing that it got Reserve Bank of India's approval for scheme of amalgamation. Apart from this, RBI has also advised that any 'no objection', if and when given on the Scheme of Amalgamation, would be without prejudice to the powers of RBI to initiate action if licensing guidelines are violated.

Auto waitlisted orders have been affected by high fuel costs as well as price hikes taken by OEMs in the current unlock phase vis-a-vis last year. Accordingly, '2W' demand has been offhanded while that of 'PVs' is more resilient, given the relatively better income profiles of car customers. This unlock phase led pent-up demand impacted as the customer sentiments are affected by the fuel prices.

China's cyberspace regulator on Saturday advised any company with data for more than 1 million users must undergo a security review before listing its shares globally, broadening a clampdown on its large platform economy. The security review will focus on the risks of data being affected, controlled or manipulated by foreign governments after overseas listings, the CAC said.

Fin services startup MobiKwik is eyeing raising $250-$300 Mn via an initial public offering (IPO) and is set to submit a Draft Red Herring Prospectus (DRHP) with the SEBI within a week. Given that MobiKwik wants to list publicly, it will look to bring new investors on board and get a fresh valuation ahead of the listing. All paperwork has been completed on Thursday, could file anytime soon now.

Avenue Supermarts Ltd, owner and operator of retail chain D-Mart on Saturday posted an increase of 132% standalone net profit at ₹115.13 crore for the quarter ended 30 June, 2021. The company posted a net profit of ₹50 crore last year. D-Mart said its standalone revenue from operations rose 31.27% to ₹5,031.75 crore for the quarter ended June 30.

The NSE rolled out new set of guidelines for companies to follow under the Corporate Insolvency Resolution Process (CIRP). Under this, the Resolution Professional must now disclose the resolution approval immediately, within 30 minutes of the oral order. Further, the Resolution Professional must also inform about impact of the resolution on existing shareholders of listed securities.

India’s first homegrown DNA vaccine against the COVID-19, being developed by the Ahmedabad-based pharmaceutical company Zydus Cadila, fifth vaccine in line against coronavirus in India if approved. The pharmaceutical giant had recently applied for emergency use authorisation (EUA) with the Indian drug regulator. Covishield, Covaxin, Sputnik V, and ModernaA have already been approved in India.

India's tech startups fundraising is hurtling amid the lifting of restrictions. The total capital inflow in Indian startups stood at $10.8 Billion across 614 funding deals. Ola and Pine Labs led the funding charts with their mega-rounds. Compared to the year-ago period (H1 2020), total funding amount in H1 2021 surged 2.1x, while it recorded a 72% increase compared to H2 2020.

The market capitalization of meme crypto coins and tokens settled near to $33 billion on July 10, data on CoinMarketCap showed. As of 10.30 am on July 10, the market capitalisation of all meme cryptocurrencies closed at $33,238,833,302, while the trading volume was at $3,282,553,655. Among the top 10 meme cryptocurrencies, Dogecoin moved the most at 5.24%, followed by ERC at 4.56%.

DoSelect, the recruitment, skill assessment, and hiring platform took over by Naukri.com’s parent company InfoEdge. InfoEdge has acquired 100% of the company in an all-cash deal. This deal enables the Sanjeev Bickchandani founded InfoEdge to offer a new variety of services under its brand Naukri.com, helping the platform consolidate its position in the market.