StartupTalky

Tag: News šŸ“°

  • How Effective is Google’s “Hybrid Work week”

    The coronavirus pandemic has led mostly all the companies to ask their employees to work from home. This was not possible few years back but now it is a reality. Recently, Google had announced about it plan for a new working policy for its employees. Letā€™s look at Googleā€™s new working policy and the effectiveness of it.

    Google’s Hybrid Model
    Google Community
    Effectiveness of its Hybris Model
    FAQ

    Google’s Hybrid Model

    Sundar Pichai who is the CEO of Alphabet and Google has announced a new working policy for the companyā€™s employees that is a hybrid model. The new working model will allow most of the employees to work out of their office for 3 days in a week and the rest employees to work remotely every day.

    As the company is shifting to the hybrid work week model the company is expected to provide employees with more choices which include more global locations and remote work.

    According to the model, around 60 % of the Googleā€™s employees will have to come to the office at least a few days a week, the other 20 % will work in new locations and the final 20 % of the employees will be able to work from home.

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    Google Community

    Sundar Pichai conveyed in a blog post that majority of the employees would want to be on campus sometime since Googleā€™s campus has been at the heart of their community. He added that still some of the employees would like to have the flexibility of working from home or spending time in another city for a part of the year or some would even prefer moving there permanently.

    He said that Googleā€™s workspace in the future would have enough freedom for its employees to explore all these possibilities.

    The main focus of the hybrid model is that the employees will get an option where they can work in the office for about 3 days in the office and for the rest 2 days, they will get an option to work from where they would prefer working from.

    He added that it may vary according to the roles of certain employees as the job would demand them to be on-site for some projects.

    The company is expecting to provide access to employees to choose from the options such as being able to apply to move to another office by the mid of June. The company is also planning to offer opportunities for the employees to apply for a complete work from home option.

    In an effort by the company to allow more flexibility, the employees will get an option to temporarily work from another location which would exclude their main office for up to 4 weeks in a year. This would be possible only if there is an approval.

    Biggest Benefit of Working Remotely
    Biggest Benefit of Working Remotely

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    Effectiveness of its Hybris Model

    Google is said to always have been the leader when it comes to working conditions and practices related to people said Sandeep Das who has worked as a Strategy Consultant with Pricewaterhouse Coopers, Marico and Accenture. He added that the other companies will have to follow them.

    He added that he finds Googleā€™s model more effective, sound and realistic as its main focus is flexibility and choice with reducing the time for transportation of the employees, collaboration at work, time to log off and also the control over an individualā€™s life.

    He adds that this would let working women continue their work and build their career and not to drop off in between their careers.

    Bhavna Dalal, leadership development specialist and executive coach to Bloomberg, American Express, Google, HSBC, Oracle and Morgan Stanley said that in the long term there will be an improvement in the productivity when individuals choose to work from a place or surrounding which makes them feel comfortable and the best.

    FAQ

    What does hybrid work mean?

    A hybrid team is a flexible work structure where some employees work remotely and other team members work from a central location or office.

    Who is the CEO of Google 2021?

    Sundar Pichai Ā is the CEO of Google 2021.

    What are the benefits of hybrid working?

    A hybrid workplace helps keep employees safe during the pandemic, Also it eliminates the time consumed in commuting during peak hours.

    Conclusion

    Work from home will soon become the new normal as not only Google but many other companies are working towards finding the possibilities of continuing it even after the pandemic. Companies such as Infosys, TCS and Spotify have already begun testing the possibilities of these hybrid working models.

  • Why GSV wants to acquire Forbes Media

    Forbes which is one of the biggest business magazines is said to be acquired soon. There have been exclusive talks between Forbes Magazine LLC and GSV Asset Management in acquiring the former company. Letā€™s look at the deal between Forbes Magazine LLC and GSV Asset Management.

    Forbes GSV Deal
    Forbes Media
    GSV Asset Management
    FAQ

    Forbes GSV Deal

    According to people with knowledge of the matter, Forbes Media LLB has entered into the deal which will lead to acquiring the company by GSV Asset Management which is led by Michael Moe. The deal will increase the valuation of Forbes Media by more than USD 600 million.

    Some people who requested anonymity in their names as the information was private said that the transaction between the company is not yet finalized but is expected to come to an agreement in the coming months.

    A spokesman of Forbes Mathew Hutchinson said in a statement that they have no comment but have seen the investors in showing consistent interest in the company that has produced 3 years of record results. A GSV Asset Management representative had declined to comment on a statement that said 2021 is shaping to be a strong year as well.

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    Forbes Media

    Forbes is an American based business magazine. The company was founded in the year 1917 which is based in New Jersey, United States. The magazine features original articles on the topics such as industry, investing, finance, marketing, etc.

    The company also provides reports on related topics which include communications, technology, politics, law and science. The magazine was founded by Bertie Charles in the year 1917 and later the company prospered under his son Malcolm.

    Later the company was taken over by Malcolmā€™s son, Steve who was the Chief Executive Officer and the President of Forbes and also the editor in chief of the magazine in the year 1990. The company is also involved in operating events. The brand has a worldwide reach of around 140 million people.

    One of the main competitors of the company is Bloomberg LPā€™s Bloomberg News. The competition is for tracking the wealth of billionaires across the globe and in providing financial news.

    In the year 2014 Forbes Magazine was acquired by a Hong-Kong based company which is whale media Investments. The company owns the majority stake of 95 % in Forbes magazine and the Forbes family owns the minority stake of 5% in the company.

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    GSV Asset Management

    GSV Asset Management portrays itself as a merchant banker which advises and invests in a wide range of businesses. The founder of GSV Asset Management is Moe who was a veteran of Silicon Valley and later grew to become an equity research analyst.

    The companyā€™s website indicated that the firm is a multi-product asset management firm that is devoted to finding and aligning the fastest growing and the most dynamic businesses across the globe. The term GSV stands for Global Silicon Valley.

    FAQ

    Who is the founder of Forbes?

    Bertie Charles founded Forbes in 1917.

    Who owns Forbes India?

    Reliance Industries owns Forbes India.

    Who was Forbes?

    The company was founded in 1917 by Bertie Charles Forbes and was taken over by Steve Forbes in 1990.

    Conclusion

    It is to be noted that Forbes Media isnā€™t the only media company for sale Even Tribune Publishing is said to in between a bidding war with Hotel Magnate Stewart Bainum and the hedge fund Alden Global.

  • How did CEAT Tyre’s witnessed Profit growth even though people are not driving

    CEAT is an Indian based Tyre manufacturing company. The company is owned by the RPG group. The CEAT company was founded in Italy in the year 1924. The company has its headquarters in Mumbai, India. CEAT is considered to be the leading tyre manufacturer in the country with a global presence.

    CEAT manufactures tyres for trucks, busses, passenger cars, two wheelers, earth movers, light commercial vehicles, tractors, auto rickshaws and trailers. Letā€™s look at the reason behind the growth of the companyā€™s profit even though the driving and riding of vehicles in the country has reduced.

    Results of Q3
    Reason for the Profit
    Segments in Focus
    Focus Markets of Ceat
    FAQ

    Results of Q3

    On 4 May 2021, CEAT Ltd which is a company under RPG group had announced that the company has achieved a net profit of INR 132.34 crore during the Q3 which was ended on 31 December 2020. The net profit has been reduced to around 27.35 % when compared to the previous quarter of the same fiscal year.

    The company had achieved a net profit of INR 182.8 crore in the Q2 of this fiscal year. CEAT Ltd has seen an increase in its revenue from operations for the Q3 of this fiscal year of INR 2,221 crore when compared to the Q2 of the fiscal year which was INR 1,978 crore.

    When compared to a year-on-year basis the profit of CEAT tyres has seen an increase by INR 152.07 % compared to the previous year’s quarterā€™s INR 52.5 crore. The revenue from operations has also seen an increase on the year-on-year basis of around 26.08 %. The revenue from operations in the previous year was INR 1,761.77 crore.

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    Reason for the Profit

    Kumar Subbiah who is the CFO of CEAT Limited conveyed that the Tyre manufacturing industry is facing an increased demand with a robust demand in the replacement market. He added that the growth of the company in the last quarter of this fiscal year will largely be because of the demand by the replacement market.

    He added that the company despite having a not so good quarter has grown the most in past nine months when compared to the same period during the last year. Compared to last year, the quarter 2 of this fiscal year has seen a growth of around 14 % and around 27 % in quarter 3 compared to the last yearā€™s quarter 3 growth.

    Kumar Subbiah said that for the Q4 the company is expected the demand to increase in most of the categories. He added that in the OEM sector the demand for some categories has come down after the festival season.

    The company wants its growth to be driven largely by the replacement market which should be followed by the OEM. He said that around 15 % of the companyā€™s revenue comes from exports, around 60 % through the replacement market and around 30 ā€“ 35 % from the OEM sector.

    Tyre Industry Sales
    Tyre Industry Sales

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    Segments in Focus

    The company said that going forward it would be looking to focus on the passenger sector which will be completely on the passenger car and two-wheeler tyres.

    He said that the companyā€™s investment in Chennai and Nagpur factories is completely concentrated and directed towards the passenger segment.

    Focus Markets of CEAT

    The company said that it would focus on the North American and the European market in the coming years. The CFO added that the companyā€™s presence in the European market has been increasing and the company is working towards increasing its presence in North America.

    He added that there are a lot of queries from different countries that are looking to reduce Chinese manufacturers and enquiring whether India could start producing it locally and supply the required tyres to them. He added that, India is in a great position to take the advantage of the situation.

    FAQ

    Where are CEAT Tyres made?

    Ceat tyres currently has 4 manufacturing facilities at Bhandup Nashik Nagpur and Halol and is setting up a new facility near Chennai.

    When did RPG acquire Ceat?

    RPG group acquired CEAT Tyres of India in 1981.

    Who is Radha Goenka?

    Radha Goenka is the Director at RPG Foundation.

    Conclusion

    CEAT had planned to invest around INR 800-900 crore this fiscal year but due to the global pandemic and the slowdown of the economy they had to cut it down to INR 550 – 600 crore. The company is planning to spend more in the next fiscal year as there is some traction and the sales are expected to increase this year.

  • Sonu Sood Backs Startups with Kuberan’s House

    Actor Sonu Sood, from Bollywood, to moderate a startup show to encourage Indian startup companies. The Kuberan’s House has announced its upcoming enterprise show, which will bring creative startup thinking from across India, to be streamlined and exhibited. The platform would help businessmen get the investment from the best investment community and transform most of them into profitable companies.

    Both ambitious entrepreneurs and innovators can use the forum to introduce their business ideas and business models to experienced testing experts, and the most influential investors can pitch and convince them to invest their money in their company. This platform aims to simplify the process by which a startup can be financed and turned into a revitalizing Premium content for the public. Sanjeev K Kumar, CEO and Co-Founder of Kuberan’s House, said that, “The aim is to provide both entrepreneurs and investors with a forum and to mediate and serve as a catalyst.ā€

    Sonu Sood Backs Fintech Startup Spice Money
    What is Kuberan’s House
    Kuberan’s House Bridging between Startups and investors
    How Kuberan’s house helps startups get funding
    FAQs

    Sonu Sood moderates Kuberan’s house to encourage Indian startup companies

    This show for funding startups would ultimately transform into a mega TV show consisting of a consortium of eight major investors and 60 final entrepreneurs from all the applicants. Ram Gowda, MD and co-founder Kuberanā€™s House, says: “There are many forums for startups across India, but there’s no showcase and no new startups. Kuberanā€™s House is the first of its kind to come up with the concept of taking the closed-door investment negotiations to every drawing room throughout India.

    Sonu Sood Backs Fintech Startup Spice Money

    Sonu Sood Backs Fintech Startup Spice Money to Drive Financial Inclusion in Rural India. Spice Money is a subsidiary company of DiGiSPICE Technologies Limited. It operates a tech-enabled hyperlocal payments network, offering services such as cash deposit, Aadhaar-enabled payments system for cash withdrawal, mini ATMs, insurance, loans, bill payments, cash collection center for NBFCs and banks as well as ticket bookings and recharge. It also offers PAN card and mPoS related services through the Spice Money App (Adhikari App) and web portal. ā€‹

    The latest infusion would help to design new initiatives and products that will bridge the divide between rural India and urban India. Spice Money will also enable select existing programs developed by Sonu Sood during the lockdown, to be made available on the Spice Money platform.

    Sonu Sood startup funding

    What is Kuberan’s House

    Kuberan’s House is the first and exclusive to be broadcasted on a broadcast channel in India. It represents the spirit of the ‘Make in India’ movement and offers opportunities, publicity and recognition for participants and an opportunity for them to gain mentorship and financial support to make their dream come true.

    The Kuberan House Foundation’s core alignment lies in delivering, tracking, streamlining and showcasing the best startup ideas in India for Kuberans’ elite team. The foundation is focused on the informative website and a comprehensive procedure for submitting ideas and entrepreneurs together with a pitch deck. A solid, passionate and accomplished multi-faceted core team with expertise in different fields constitutes the Base.

    Through strategic alliances sponsored by the best professional media, P.R, digital marketing, advertisement, and advisors from the top technical institutes and start up forums in India, the Foundation is the centerpiece of all activities that enable full scope and invite creative entrepreneurs and developers to apply. 9X Ventures LLP, integral part of Kuberan’s House, offers training, mentorship, the concept of business model, network support, incubation and acceleration services and is a competent home startup consulting company.

    9XV, together with its team of industrial experts, market value’s, chartered accountants, screen every application and institutional and expert domain partner in Kuberan’s House is conducted in a most scientific and professional manner. A three-stage screening process involves detailed background checks, technical specifications, a company module, originality and viability for the business concept being suggested, all applications received on the KUBERAN’s HOUSE platform.

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    Kuberan’s House Bridging between Startups and investors

    Kuberan’s House is a first and unique forum for developing and showcasing new startup ideas in India and helping companies obtain investments from the best selection of investors and risk capitalists. A real TV show featuring Sonu Sood makes it easier to obtain an idea by making it into a vigorous primetime. The idea arose when the planet was completely stalled as a consequence of the pandemic. A brainchild of Sanjeev K Kumar (CEO and cofounder), Ram Gowda (MD and cofounders), and Ranjith Royal (cofounders). In the background of the project’s online partners, Govind Balakrishna Raju (chair strategic officer) and Srinivas Vasanthala (VS ā€“ Operations) joined hands with the founders.

    How Kuberan’s house helps startups get funding

    If you are an investor or an entrepreneur and are looking for funding in an innovating business concept or company, this is the perfect forum to achieve your startup dream. The 500 top startups undergo a rigorous screening phase and will be moved to the ‘Hall of Fame‘ of Kuberan House. Any of these are accredited as a ‘Seal of Merit’ by the Kuberan House Fellowship. The applicants will be limited to the top 100, which will engage in a three-day exhaustive and holistic workshop.

    The Workshop is made up of a group of exclusive experts in business matters, economics, policy, chartered accounting and the administration of the funds, legal matters and the public sector. The last 60 companies will be listed on the show. Three ideas will be introduced in each episode in the 15-episode series. This series is about pitching top investors in the country and convincing them about the importance of your startup concept, where every pitch will have an opportunity to get the Rs. 10 crore funding, as opposes the traditional realities with a winner and a loser.

    This is a rare opportunity for top startups to appear on national television once in a lifetime. Incubation and acceleration skills will also be open to the top 500 applicants. In view of international exposures and global platforms such as Silicon Valley (USA), Singapore and Israel, Prime 100 will gain access to a detailed holistic workshop, with domain, business, lawyers and the final 60 applicants. In terms of startup credits, incentives and value add-ons all shortlisted applicants will also gain.

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    FAQs

    What is Kuberan’s House?

    The Kuberanā€™s House is an organization that invites, develops, streamlines, and connects business ideas and inventions with prospective investors and venture capitalists.

    Who is the CEO of Kuberan’s House?

    Sanjeev K Kumar is the CEO and Co-Founder of Kuberan’s House.

    What is Spice Money?

    Spice Money is a Rural Fintech Company in India which has brought a transformative impact on digital, financial, and e-retail services across the rural and semi-urban regions.

    Sonu Sood is an Advisory Board Member of Spice Money. Sonu Sood is brand ambassador of its brand campaign ‘Spice Money Toh Life Bani’.

  • Covid Vaccine Trackers List – Apps to help you register your slot for the Vaccine

    The second wave of the Covid-19 cases has been increasing in the country for the past few months. The daily active cases are rising and currently, Ā India has seen the greatest number of single-day cases around the world. The country has a total of around 2.15 crore active cases and 2.34 lakh deaths as of 7 May 2021.

    The vaccine drive had started widely across the country majorly concentrating on the people for above 45 years of age. From 1 May 2021, the Prime Minister of the country had announced that anyone above the age of 18 years could get vaccinated.

    Here is the list of mobile applications and the websites you can use for finding the slots for covid-19 vaccination.

    CoWIN
    Getjab.in
    Under45.in
    Finslot.in
    WhatsApp MyGov Corona Helpdesk
    Covid-19 Vaccine Tracker on Google Sheets
    Paytm
    Phonepe
    FAQ

    CoWIN

    CoWIN remains the major app for androids and a website no matter though which website you try to book your vaccine. It is the only website and android users to book the slot for the Covid-19 vaccine online. The CoWIN app portal is also accessible through the Aarogya Setu app for both android and iOS users.

    The CoWIN app works in the most traditional way, you will have to enter your pin code in order to look for the available slots for the vaccination.

    Getjab.in

    Getjab.in is a website that helps you in notifying the availability of slots for the Covid-19 vaccination. Unlike CoWIN this website will notify the users through email notifications when there will be an availability of the slot for the vaccination drive.

    The website is run by the alumni of the Indian School of Business Shyam Sunder with his colleagues. The site would ask for the users’ information such as the name, location, email address and an optional phone number.

    In order to get notified users will have to register on the website. Getjab.in claims that the data which is shared once will not be reshared or sold to anyone else. The site adds a note on its webpage which says ā€œGet notified by email whenever slots open up for 18 ā€“ 45 years age group.

    Getjab.in Website
    Getjab.in Website

    Under45.in

    Under45.in is another website that shares the data of the availability of slots for the Covid-19 vaccine. The website works in a much more similar way compared to Getjab.in but it does not send notifications through emails.

    The website will help in finding the availability of vaccine centers in a particular area and in addition to that the developer of the website Berty Thomas is providing the links for telegram groups through his Twitter account.


    The telegram groups will provide the same slot availability options. When compared to Getjab.in, Under45.in requires only the information regarding the state and the district and it doesnā€™t require your name or any other personal details such as email and phone number.

    This makes Under45.in a notable website for users who are concerned about their privacy. Based on the recent searches the site would contain the list of the slots that are available.

    Finslot.in

    Findslot.in is another website that will help users find the availability of vaccine centers across the country. Findslot.in works in a similar way to Under45.in. The website uses the API of the CoWIN website.

    Finslot.in works much more similar to the CoWIN portal itself. The users will have to enter their different pin codes individually to know the availability of slots for the Covid-19 vaccine. There are claims that the website can be unreliable at times as it failed to show the availability of centers even while there were available slots in specific centers.

    However, the website claims that the availability of the slots in centers would change in real-time. Users of the website can reach the developers through Twitter if they face any kind of issue.

    WhatsApp MyGov Corona Helpdesk

    WhatsApp also helps the citizens of the county find Covid-19 vaccine centers and slots through the WhatsApp MyGov Corona Helpdesk chatbot. This was launched in March 2020. The process to find the slot and a vaccine center is considered to be very simple.

    WhatsApp MyGov Corona Helpdesk chatbot
    WhatsApp MyGov Corona Helpdesk chatbot

    The users will have to save the number 9013151515 on their Android or iOS smartphone. Users can also use the chatbot using their desktop through WhatsApp Web.

    Once the MyGov Corona Helpdesk chatbot is launched on your WhatsApp, the users will have to send a text with hi or hello to get a response from the bot. The automated response will ask users to select an option for their Covid-19 related information. You will also find an option for finding the vaccine center nearest to their location. Users also have an option to chat with the chatbot in Hindi just by sending the text Hindi or typing it in the Hindi language.

    Covid-19 Vaccine Tracker on Google Sheets

    Amit Agarwal who is the programmer and founder of Labnol has set up an automated system using Google sheets. The system will notify the users through emails whenever there is an availability of vaccines in their location. The project has an open-source license which lets anyone access it.


    They will just have to make a copy of the tracker in order to get started. Here are the steps to be followed to activate the mail notification.

    1. You will have to make a copy of the vaccine tracker Google Sheet.

    2. Then you will have to click the Vaccine Tracker Option and click enable.

    3. Use Google account to authorize the app.

    4. You will have to click enable again on the vaccine tracker

    5. There will be an appearance of an alert box

    6. You will have to enter your details such as pin code, email id, age group etc.

    7. You will have to click on email alert and you will get a notification whenever the vaccines are available.

    Paytm

    Paytm has launched a new tool in its mini app store which will help in finding the availability of vaccines. The tool will help the users to find the availability of vaccines on specific dates by entering the pin code or the details about the district for the eligible age groups that is 18+.

    The users can also receive alerts on a real time basis on the app to receive information about the slots for vaccines.

    PhonePe

    PhonePe also has launched a new tool in its mobile application in order to help the citizens in finding the availability of the vaccines. The users will have to open the mobile application and provide details such as pin code or location and enter the age category for the vaccines.

    You will have two options that is 18+ or 45+and also choose the type of vaccine according to the preference of the user.

    FAQ

    Who are affected by Covid-19 in IPL?

    Wriddhiman Saha of Sunrisers Hyderabad and Amit Mishra of Delhi Capitals were affected by Covid-19.

    When we can register for Covid vaccine?

    Registration of Covid vaccine will start from 1 May.

    How many Covid vaccines are produced daily in India?

    So far, India is producing roughly 2 million vaccine doses each day.

    Conclusion

    The Covid-19 vaccination drive for the 18 + years of age is expected to start very soon in the country since the cases are increasing on a regular basis and most of the states have opted for a complete lockdown.

  • All the latest donations from Big Companies to India for fighting the Second Wave

    The increase in the Covid-19 cases has led to a lot of tech companies and big corporates helping India during the crisis. The second wave of the coronavirus pandemic has hit India really hard with the daily cases rising and the deaths in the country increasing.

    The citizens of the country are finding it hard to access the basic medical requirements. This is when a lot of companies have come forward to help India. Letā€™s look at the latest donations from big companies for India in order to fight the Covid-19.

    Pfizer
    Mahindra Group
    Sony Group
    Qualcomm
    SpiceJet
    Google
    Xiaomi India
    Microsoft
    Amazon
    Paytm
    Ford Motors
    One Plus
    FAQ

    Pfizer

    Pfizer which is an American based pharmaceutical company has announced that it will send medicines for the treatment of Covid-19 to India. The company announced that it would send medicines worth USD 70 million (around INR 510 crores) to India from its distribution centres.

    Albert Bourla, the CEO of Pfizer said in an email that to the employees of India that the company is deeply concerned about the critical condition faced by India due to Covid-19.

    Mahindra Group

    The chairman of Mahindra Group, Anand Mahindra has launched a project in Maharashtra called as Oxygen on Wheels. This project will focus on the easy transportation of oxygen from production plants to hospitals and homes amid the coronavirus pandemic.

    Anand Mahindra had posted a tweet that conveyed that in the current situation oxygen is the key to reduce mortality and the problem is not the production of oxygen but the transportation and he added that the company is trying to bridge the gap between that.

    Sony Group

    Sony Group had also recently announced that the company will provide a donation of around USD 1 million (around INR 7.4 crore) in order to help India amid the Covid-19 crisis. The company said that it would procure PCR testing machines and oxygen for medical purposes by donating the amount to UNICEF and other organizations.

    Qualcomm

    Qualcomm which is a chipmaker had recently announced that it would provide a donation of around USD 4 million (around INR 30 crores) to India amid the surge of Covid-19. The company said that one of the key strains faced by the company is the shortage of medical supplies and lifesaving equipment.

    The company said that they have been thriving hard and actively working towards finding ways to provide relief to the Indian community through philanthropic activities.

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    SpiceJet

    SpiceJet has announced that the cargo arm of the company SpiceXpress has airlifted more than 4,400 oxygen concentrators from different countries such as Hong Kong, USA, Singapore and China in the last two weeks.

    The company added that they have transported around 34 million doses of vaccines for Covid-19 to India between January 12 and April 12 and also around 700 concentrators from China to New Delhi.

    Google

    Sundar Pichai, the CEO of Google and Alphabet announced that the company will be donating an amount of INR 135 crores to India in order to fight against the coronavirus pandemic. The company will provide funding for two grants.

    The first grant will be given to GiveIndia in order to provide cash assistance to the families that have been affected due to the Covid-19 crisis. The grant amount is expected to be around INR 20 crore.

    The second grant will be given to UNICEF in order to provide oxygen and the required medical supplies and testing equipment.

    Xiaomi India

    Xiaomi which is one of the leading smartphone companies in India had announced that it would provide an amount of around INR 3 crore to India. The amount will be for procuring 1000+ oxygen concentrators.

    The CEO of the company conveyed that these oxygen concentrators will be supplied to the hospitals and the state governments according to the requirement. The company also announced that it is working together with GiveIndia to help the frontline workers of the country by raising a capital of INR 1 crore.

    Microsoft

    The CEO of Microsoft Satya Nadela had announced that the company will help India in purchasing critical oxygen concentrators and also added that the company will use its resources, voice and technology to help India fight against the Covid-19 pandemic.

    Amazon

    Amazon India has been collaborating with different organizations in order to urgently lift oxygen concentrators of around 8,000 and 500 BiPAP machines from Singapore. The company conveyed that it would take care of the cost for lifting the concentrators and BiPAP machines through Air India and other national carriers.

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    Paytm

    The CEO of Paytm Vijay Shekhar Sharma had announced on Sunday that the Paytm foundation will raise an amount of INR 2 crore through donations for oxygen concentrators. Paytm also added that they would add the same amount of money towards the donation from the company.

    Ford Motors

    Ford Motors which is an American based automobile major has announced that the company will donate surgical masks of around 50 lakhs in number, 1 lakh N95 masks and 50,000 gowns in order to fight against the Covid-19 second wave in India.

    The company said that Ford Fund will also donate around USD 200,000 (around INR 1.5 crore) to support various organizations that are providing Covid-19 relief in Brazil and India.

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    One Plus

    One Plus one of the premium mobile phone brands in India has said that it would donate around 400 oxygenators in order to help the Indians to fight against the Covid-19 pandemic. The One Plus Global community has also expressed their interest in making contributions for the country.

    The company has also tied up with GiveIndia in order to raise funds for the frontline workers in India.

    FAQ

    What is the current Covid situation in India?

    India is in the midst of second wave of COVID-19 and is recording over 300,000 daily coronavirus infections.

    Who issued the official name of COVID-19?

    The official names COVID-19 and SARS-CoV-2 were issued by the WHO on 11 February 2020.

    Which Covid vaccine is used in India?

    Covishield vaccine, manufactured by Serum Institute of India, and Bharat Biotech’s Covaxin are being used for the vaccination programme.

    Conclusion

    The second wave has been increasing and the situation of the country is worsening as days pass. The governments and different organizations are working together in fighting the second wave of the Covid-19 pandemic. There are also many individual volunteers and foundations providing support to fight the country against the deadly virus.

  • Logistic startups that are helping deliver oxygen cylinders in India

    “Not all heroes wear capes”, this saying was realized when Indian Logistics companies started pitching in to meet the shortage of oxygen during the Covid crisis. It is not possible to set up new oxygen plants or expand the old ones in a limited time. That’s why the focus had to be shifted to logistics.

    During the first wave, the demand for oxygen went north from 700 MTPD (Metric tonnes per day) to 2,800 MTPD. The second wave launched it even higher to 5000 MTPD. This puts immense pressure on local bodies to deliver the requirement on time.

    In this case, logistics entrepreneurs have come out as saviours. They are working were both solely and in collaboration with government bodies and international firms to meet the rising demand.

    Below is the List of logistics companies that are helping deliver oxygen cylinders in this oxygen crisis:

    Delhivery
    Mahindra Logistics
    Loginext
    FAQ

    Delhivery

    Gurugram based unicorn startup, Delhivery has been contributing to meet the supply of oxygen cylinders. The CEO of Delhivery, Sahil Barua, seeks help from international firms while he plans to import oxygen from countries like China. The company is reaching out to people through social media to provide logistics support.

    Chartered flights brought in oxygen cylinders on April 28 and April 30 from Shanghai to Delhi. Nitin Goyal promises to provide end-to-end support to anyone who asks for it. He provided his email, i.e., nitin.goyal@delhivery.com, where the requester can provide the details of volume and address

    ā€œWe are flying charters into India with oxygen concentrators and other essential supplies and can build more capacity on demand.ā€ Ā – Sahil Barua, CEO Delhivery

    A group of Gurugram based startup founders launched, “Mission Oxygen”, to meet the oxygen demand. They managed to raise 4.60 crores and aim to reach the target of 5 crore INR to deliver 3000 oxygen cylinders. The mission was funded by many businessmen and Bollywood celebrities.

    The situation has gone so bad that patients and even doctors have resorted to social media to ask for help. In the scenario, government bodies have been proved to be unprepared. The startups on the other hand are well equipped with their advanced technology and measures that can provide valuable solutions. They gather funds and quickly put them to use.

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    Mahindra Logistics

    Amidst the havoc, Mahindra Logistics has emerged as another saviour as it launched, “Oxygen on Wheels” (O2W). They aim to deliver oxygen all around Mumbai to meet the shortage of oxygen.

    Maharashtra is among the topmost affected states where the oxygen demand has sky-rocketed. Mahindra deployed over 100 vehicles in Mumbai, Pune, Thane, Pimpri Chichwad, Chakan, Nasik, and Nagpur.

    The company has partnered with administration and local government bodies to fight this battle. Mahindra plans to supply oxygen in Delhi too. Since the condition is worsening and effective distribution becomes crucial, it is also planning to deliver oxygen directly to the homes of the patients where the condition is critical.

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    Loginext

    Loginext is Mumbai based logistics startup that has also pitched in the meet the demand. It plans on collaborating with Brihanmumbai Municipal Corporation (BMC) to deliver oxygen cylinders to the needy. It has also collaborated with over 50 delivery platforms to launch an oxygen-delivering service.

    Dhruvil Sanghvi, CEO of Loginext understands that the bigger problem lies in distribution rather than the supply. Thatā€™s why they are working with local government bodies to ease the distribution.

    Indian Air Force has also been lifting and delivering oxygen cylinders and other medical supplies. They are even lifting medical staff from different places and bringing them to required locations. Till now they’ve managed to lift cylinders from Bangkok, China, Singapore, and UAE to help the country in this crisis.

    FAQ

    How is oxygen delivered at home?

    Oxygen is usually delivered to home as compressed oxygen gas or as Liquid oxygen.

    Do oxygen concentrators run out of oxygen?

    Oxygen concentrators does not run out of oxygen.

    Can I import oxygen concentrator to India?

    The Delhi High Court on Wednesday asked the finance ministry to consider exempting oxygen concentrators imported by individuals for personal use from integrated goods and services tax.

    Conclusion

    As India battles with the second Covid wave, we are faced with an ever-present logistics problem. But these companies with the help of others have proved that where there’s a will, there’s a way. While they continue to distribute oxygen, we can contribute by staying at home and following guidelines.

  • Reasons why Reliance Industry’s profit increased by 35% in 2021

    Reliance Industries which is led by Mukesh Ambani has recorded a rise in its profit of up to 35%. Reliance is one of the leading companies in the oil and telecom sector in the country. The telecom sector has been growing under the brand name Jio and had created a disruption in the market at the time of its launch. Letā€™s look at the financial results of Reliance Industries for the end of the financial year 31 March 2021 and the reason for the rise in profits.

    About Reliance Industries
    Results of Q3 2021
    Reason for the Profit
    FAQ

    About Reliance Industries

    Reliance Industries is an Indian based multinational conglomerate. The company was founded in the year 1973 and has its headquarters located in Mumbai, India. The company provides services across the globe and is the largest publicly traded company in India.

    Some of the products and services of Reliance Industries include Petroleum, Natural Gas, Textiles, Petrochemicals, Telecommunications, Retail, Television, Media, Entertainment, Financial services, Music and Software.

    Reliance Industries owns a lot of subsidiaries which include Jio Platforms, Reliance Retail, Jio Payments Bank, Reliance Petroleum, Alok Group, Network18 Group, Reliance Foundation and the IPL team Mumbai Indians.

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    Results of Q3 2021

    Reliance Industries which is an oil to telecom conglomerate reported a rise in its profit for the end of the year which ended on 31 March 2021 of about 34.7 % increase at INR 53, 739 crores. The company led by Mukesh Ambani had seen a net profit of around INR 39, 880 crores at the end of the previous financial year 2020.

    The revenue generated by the company for the FY21 is around INR 5.39 lakh crore which is around 18.3 % lower than INR 6.60 lakh crore. Total income of the company reviewed under the fiscal fell around 20% from INR 6.26 lakh crore to INR 5.03 lakh crore which was recorded at the fiscal which ended on 31 March 2020.

    This was conveyed by Reliance Industries on 30 April 2021 during a Regulatory filing. There was also a decline of around 4.6 % in the FY 21 in the Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) of the company which stood at INR 97, 580 crores.

    The cash profit for the fiscal under review has seen an increase of around 18.8 % which stood at 79, 828 crores.

    The net profit of the company for the March quarter of FY 21 had seen an increase of around 129 % year on year from INR 6, 546 crores to INR 14, 995 crores. The revenue for the quarter had also seen an increase of around 13. 62 % compared to the previous year from 1.52 lakh crore to 1.72 lakh crore for the current year.

    The EBITDA of the company during the March quarter of FY21 saw an increase of 1.9 % month on month which was around 26, 602 crores. The cash profit of the company had seen a rise of around 6.5 % for the quarter ended on 31 March 2021 which is INR 22, 746 crores.

    Turnover of Reliance Industries Limited in India
    Turnover of Reliance Industries Limited in India

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    Reason for the Profit

    Reliance Industries had said that its non-convertible debentures (NCDs) outstanding as of 31 March 2021 were around INR 66,665 crore in which INR 13,351 crores are secured non-convertible debentures.

    Reliance further added that the secured non-convertible debentures of the company which is recorded at INR 13,351 crores for the year ended 31 March 2021 are secured through movable properties by the way of its first charge.

    Mukesh Ambani who is the chairman of Reliance Industries conveyed that they have seen a vigorous growth in the O2C and retail segment of the business and a strong growth in the Digital Services in their business.

    The growth of O2C earnings was supported through the sustained high utilization rates across sites, transportation fuel margins as well as improvement in downstream products deltas. He added that during these challenging times the consumer business of Reliance Industries has proved to be a physical and digital lifeline for the nation.

    FAQ

    What is the annual profit of Reliance Industries?

    The annual profit of Reliance Industries is 1,15,461 CRORE.

    How many companies Mukesh Ambani have?

    Mukesh Ambani have 7 companies under him.

    Is Jio under Reliance Industries?

    Yes, Reliance Industries wholly owns subsidiary of Reliance Jio Infocomm.

    Conclusion

    Mukesh Ambani-led Reliance Industries has added around 75,000 jobs during the Covid pandemic while ensuring the health and safety of the employees. Reliance Industries also announced a dividend of INR 7 per share.

  • What is Lab Diamond and Why Pandora will only sell Lab Diamonds

    Pandora which is the worldā€™s biggest jewelry maker said it will no longer sell mined diamonds and will focus on laboratory made diamonds. Pandora is said to ditch the mined diamonds for the diamonds grown in the lab. Letā€™s look at what exactly is lab diamonds and the reason for Pandora to use Lab Diamonds in the future.

    About Pandora
    Why Pandora will only sell Lab Diamonds
    What are Lab Diamonds
    Diamond Market
    Future of lab grown diamonds
    FAQ

    About Pandora

    Pandora is a jewellery manufacturer and a retailer company. It was founded in the year 1982 and has its headquarters located in Denmark. The company has around 7,090 locations with its service spread across the globe.

    The company is known for designer rings, necklaces, charm bracelets and watches which it discontinued lately. The company has a production site in Thailand and markets its products to more than 100 countries in 6 different continents.

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    Why Pandora will only Sell Lab Diamonds

    On 4 May 2021, Pandora announced that it would remove the mined diamonds from its glass cases and would concentrate on selling the diamonds that are generated in the labs. This is considered as a pointed move from an industry that is dependent on scarcity for value and consumer demand for sustainability and ethical sourcing.

    The sentiments of the younger buyers who are more likely to focus on the environmental factors and the concerns regarding human rights before purchasing the products with the changes in the market due to the coronavirus pandemic has led Pandora to shift into man-made diamonds which is easy to be produced at a fraction of time and cost.

    The chief executive Alexander Lacik said that this is the right thing to do and said that they are focusing on becoming a low carbon business. He added saying that he has 4 children and that he would leave the earth someday. He says that the step taken by the company is to try to leave the earth in a better shape than the one created in the last 50 years.

    In the United States and especially in countries such as China and India, younger consumers have said that one of the important factors they consider in their decision-making process is sustainability and the added saying that this factor would be an influence while deciding on the purchase of jewellery.

    Difference between Lab grown and Mined Diamond
    Difference between Lab grown and Mined Diamond

    What are Lab Diamonds

    Pandora claims that its lab grown diamonds have the same physical and chemical characteristics compared to the mined diamonds. They are also graded based on the carat, clarity, colour and cut. The lab diamonds are created in hot pressurized chambers which would require a lot of electricity.

    The diamonds can be produced in a weekā€™s time and can be produced within one third of the mining price. Even though it uses a lot of electricity this method is considered sustainable as the mined diamonds that are pulled from the earth would take centuries to form.

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    Diamond Market

    Stephen Morisseau who is a spokesman for a non-profit institution called Gemological Institute of America said that both the diamonds natural and the diamonds grown in the laboratory have a place in the market that is based on the consumer choices and preferences. The Gemological Institute developed the international diamond grading system.

    He added saying that both natural and diamonds grown in the laboratory are diamonds and while they are not exactly identical, they share the same optical chemical and physical properties.

    According to a report from Antwerp World Diamond Centre and Bain & co the retail diamond industry has a valuation of around USD 64 billion which has pushed back against the synthetic diamonds. As the diamonds grown in the laboratory are considered to be a threat to the scarce real diamonds which are highly profitable.

    But the lab made diamonds are significantly considered to be less expensive. Compared to the real diamonds the lab grown diamonds are less costly as much as one tenth of the cost. This interests the younger customer base due to the concept of affordability.

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    Future of lab grown diamonds

    In the year 2020 the production of lab grown diamonds had reached to the rate of up to 6 million to 7 million. This led to the fall of retail diamond prices where the wholesale prices remained stable in the markets concentrated in the United States.

    If there is a further price drop for diamonds, lab grown diamonds would be opened up for a broader range of consumers from all income groups and diamonds would move from a luxury category into the fashion category making it more affordable.

    FAQ

    Do lab grown diamonds have resale value?

    Lab-created diamonds have very little to no resale value.

    Do lab grown diamonds last?

    Lab diamonds as durable as natural stones, but they’re also chemically, optically, thermally, and visually identical to mined diamonds.

    Can you resell a lab grown diamond?

    Yes, you can resell a lab grown diamond.

    Conclusion

    Pandoraā€™s diamonds are being produced using more than 60 % of renewable energy and they claim that with a global launch it would reach up to 100 % renewable sources for manufacturing of diamonds. The company is expecting to reach carbon neutrality by 2025.

  • How Gates Foundation will be affected after the Divorce of Bill & Melinda Gates?

    Bill Gates and Melinda Gates who are the co-founders of the worldā€™s largest private charitable foundation have filed for divorce. On 3 May 2021, they decided to end their 27 years of marriage as they required space in their personal life and would want to grow individually. Letā€™s look at what would be the future of the largest charitable foundation in the world, the Bill and Melinda Gates Foundation.

    About Bill Gates
    About Melinda Gates
    Bill and Melinda Gates Foundation
    Future Decisions
    FAQ

    About Bill Gates

    Bill gates are the co-founder of one the worldā€™s leading technology firm Microsoft. He had dropped out of Harvard University in the year 1975 to start the technological firm. Bill Gates had owned the majority of the stock in the company which made him a multimillionaire and one of the wealthiest men in the world.

    In the year 2000, Gates had stepped down from the position of CEO of Microsoft in order to concentrate on philanthropy.

    About Melinda Gates

    Melinda French Gates was an employee of Microsoft before getting married to Bill Gates. She was raised in Dallas and completed Economics and Computer Science at Duke University. In the year 2015, she founded an investment company that will be focused on women and families which is Pivotal ventures.

    In the year 2019, she had published a book that was focused on female empowerment called The Moment of Lift.

    Melinda Gates Book
    Melinda Gates Book

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    Bill and Melinda Gates Foundation

    The Bill and Melinda Gates Foundation has become one of the most influential and powerful forces in the global public health. Over the past 2 decades, the charitable foundation is estimated to have spent around USD 50 billion to bring a business approach in order to fight against poverty and diseases.

    The Bill and Melinda gates foundation has backed a wide range of programmes which include polio and malaria eradication, vaccines and child nutrition. In the year 2020, during the global pandemic due to Covid-19, the foundation had committed an amount of USD 1.75 billion to the relief of Covid-19.

    The Bill and Melinda Gates Foundation was launched in the year 2000. The private charitable philanthropic foundation is considered as the largest non-profit foundation in the United States and the worldā€™s largest foundation.

    The foundation has a net asset of around USD 43 billion according to the latest financial data available on the website. The couple has been reported to have contributed of around USD 36 billion from the time period of 1994 to 2018.

    In the year 2020, Warren Buffet has contributed stocks from his Berkshire Hathaway Inc of more than USD 36 billion to the Bill and Melinda Gates foundation. It was as part of the plans which he had announced previously that is to give away his entire fortune before his death.

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    Future Decisions

    The couple had filed a joint resolution regarding the dissolution of their marriage. They have conveyed that their legal union was broken in a way that couldnā€™t be made right but they added that they had reached to an agreement on how to divide their wealth between each other. The details of the division of wealth were not disclosed.

    They had posted a tweet on their individual accounts which said that they had decided to end their marriage after a great deal of thought and a lot of work on their relationship.

    They added that they would require space and more privacy in their new life as they have realized that they will no longer be able to grow together as a couple in the next phase of their life.

    FAQ

    What is the purpose of the Gates Foundation?

    Gates Foundation focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty in developing Ā countries.

    What disease did the Gates Foundation eradicate?

    Gates Foundation made progress toward eradicating polio.

    Who is the CEO of the Gates Foundation?

    Mark Suzman is the CEO of the Gates Foundation.

    Conclusion

    In a separate statement, the Bill and Melinda Gates Foundation had said that the couple would remain as the co-chairs and trustees of the organization and would work together for the foundation to shape the foundation strategies and approve it, to advocate the issues faced by the foundation and to set the overall direction of the organization.