Aksum Trademart, a business-to-business (B2B) startup into raw material supply to MSMEs, has revealed its plans of raising a whopping USD 25 million (about Rs 199 crore). The startup intends to deploy the aforementioned funds so as to realise its expansion plans. A boutique investment banking firm has been hired by the company to aid it in raising the funds.

As many as 386 infrastructure projects, each having an investment of Rs 150 crore or more, have been adversely affected by cost overruns of more than Rs 4.7 lakh crore, according to a report. As per the Ministry of Statistics and Programme Implementation, out of 1,505 projects, 386 reported cost overruns, and as many as 661 projects were delayed.

Godrej Industries, one of India’s oldest conglomerates, expects a tough time for its businesses in Africa, as companies brace themselves for a global economic downturn. Nadir Godrej, the company’s chair and managing director, is of the opinion that “Africa could be quite tricky” in the coming months.

Seven of the top-10 valued firms logged a combined loss of Rs 1,54,477.38 crore in market valuation last week, with IT giants Tata Consultancy Services and Infosys emerging as the biggest losers. Last week, the BSE benchmark index plunged. 812.28 points or 1.36 percent. Reliance Industries Limited, ICICI Bank, and State Bank of India emerged as the only gainers in the top-10 pack.

Indian IT behemoth Infosys has announced bonus shares on 5 occasions since the year 2000. Out of those 5 bonus share issues, the company announced bonus shares in a 3:1 ratio in 2004, and on the rest of the 4 occasions, it has announced 1:1 bonus shares. If an investor had invested ₹1 lakh in Infosys in the year 2000, it would have turned into ₹9.58 crore in 2022.

Domestic equity markets ended the last trading week with losses as volatility affected the markets adversely. However, broader markets gained up to 2 percent. Here's a list of factors that would influence markets in the coming week: 1) India's GDP numbers 2)Reliance Industries' AGM 3)Auto sales numbers 4)FII flows, etc.

It has been observed that two U.S. Navy warships are wading through international waters in the Taiwan Strait. This operation is notable because it is the first of its kind since tensions heightened between the U.S. and China after U.S. House Speaker Nancy Pelosi's visit to Taiwan. China launched military drills near the island after Pelosi visited in early August.

In a probe launched by the Economic Offences Wing (EOW), it was found that many of the daily-need products Mumbaikars purchase online through unrecognized apps are duplicates. As per officials, the EOW has confiscated fake copyright items and edible products used as daily needs worth Rs 5 crore in the last eight months and arrested 61 people.

Several banks have raised interest rates on fixed deposits (FDs) after three consecutive repo rate hikes by the Reserve Bank of India (RBI). HDFC Bank, ICICI Bank, IndusInd, and IDBI Bank are the banks that have hiked interest on term deposits recently. Smaller and new private banks are also giving attractive rates to the general public as well as senior citizens.

It has been revealed that the shareholders of aviation giant InterGlobe Aviation, at the 19th Annual General Meeting of the company held on Saturday, have given their nod to the appointment of three directors. They also gave a go-ahead for the re-appointment of Anil Parashar as a director. The aviation company told about these appointments in its latest exchange filing with Indian bourses.

Several cryptocurrencies were trading in red early on August 28. The global crypto market capitalization is currently at $968.18 billion, a 0.73 percent decrease over the last day. The total crypto market volume over the last 24 hours is $63.70 billion, which indicates a 31.54 percent decrease. Bitcoin is currently trading at 20,009.10 USD and Ether is trading in the green at 1,494.96 USD.

Gold prices closed in the negative territory with losses of around 0.47% on the last trading day of the week. One of the major factors that would dictate the price movement of the precious metal next week is the US non-farm payroll and unemployment rate data, which would be viewed by market players to adjudge the health of the US economy. Inflation figures would also decide gold's movement.

Dell Technologies Inc. revealed yesterday it had ceased all Russian operations after closing its offices in mid-August, the latest in a growing list of Western firms to exit Russia. The U.S. computer firm, an important supplier of servers in Russia, has joined a list of uncountable companies in halting operations since Moscow invaded Ukraine on February 24.

NDTV has revealed that its Annual General Meeting (AGM) has been delayed by a week to September 27. The aforesaid delay has been made in view of the open offer from the Adani group to acquire a 26 percent stake in the media company, as per a regulatory filing. The New Delhi Television Limited (NDTV)'s AGM was previously scheduled to be held on September 20.

In a week's time, Afghan authorities have reportedly shut down16 crypto exchanges in the country. Over the past week, the country's western Herat province saw the maximum number of crypto exchange closures as by crypto platforms and trading are creating many problems, says Sayed Shah, an ex-employee of DAB. The unit closures also include arrests of whoever involved in the scam.