BUSINESS CORNER

|
  • 0

BUSINESS CORNER

Wednesday, 13 March 2019 | Agencie

Facebook Hubs to support startups

New Delhi: Social media platform Facebook Tuesday launched 'Facebook Hubs', an initiative to foster innovation and offer support for budding entrepreneurs.       Facebook Hubs will extend support for startup community by hosting mentor hours and conducting trainings, workshops, discussions across 20 locations. The locations would be in Delhi, Gurugram, Noida, Bengaluru, Mumbai, Hyderabad, Pune, Navi Mumbai and in Goa, it said in a statement. The social media platform said it has partnered with 91springboard for a year-long programme to help startups and entrepreneurs scale their businesses. The initiative includes co-working community hosting, planning and organising structured activities like learning and skill development programmes for budding entrepreneurs.                “We have already worked with hundreds of startups through our various programmes and by teaming up with 91springboard we hope to reach out to more, to fuel India's startup ecosystem with a vision to build businesses of tomorrow,” Satyajeet Singh, Head of Product Partnerships, Facebook India and South Asia said. Facebook Hubs will be part of a global network for training and mentoring facilities for startups, developers, small and medium businesses, creators, and job seekers, the statement added.

Yatra to review take over proposal of Ebix

 New Delhi: Yatra Online Inc, the parent company of Gurugram-based online travel firm Yatra.com, said Tuesday it has received a proposal from Ebix Inc to acquire all of its outstanding shares and will review the offer. US-based software firm Ebix Inc on Monday announced that it had offered to acquire Yatra Online Inc for USD 336 million (over Rs 2,345 crore). “Consistent with its fiduciary duties, and in consultation with its independent legal and financial advisors, the company's Board of Directors will review and consider the proposal to determine the course of action that it believes is in the best interest of the company and all of its shareholders,” Yatra Online Inc said in a statement. Company shareholders do not need to take any action at this time, it added. “Citi Group Global Markets Inc is acting as financial advisor to the Company and Goodwin Procter LLP is acting as legal counsel,” the statement said. Ebix Inc has sent a letter to the Board of Yatra Online, Inc outlining offer to acquire 100 per cent of the outstanding stock of Yatra Online for USD 7 per share on a debt-free basis, the US based software firm had said in a statement.

Sebi lifts foreign investment cap in corporate bonds

 New Delhi: Markets regulator Sebi on Tuesday withdrew the 20 per cent limit on investments by Foreign Portfolio Investors in corporate bonds of an entity. In a notification, the regulator said the restriction is being withdrawn in accordance with a circular issued by the Reserve Bank of India (RBI). In June last year, the Securities and Exchange Board of India (Sebi) had mandated that no Foreign Portfolio Investors (FPIs) shall have an exposure of more than 20 per cent of its corporate bond portfolio to a single corporate. However, the central bank in February lifted the restriction in view of market feedback.

Sunday Edition

CAA PASSPORT TO FREEDOM

24 March 2024 | Kumar Chellappan | Agenda

CHENNAI EXPRESS IN GURUGRAM

24 March 2024 | Pawan Soni | Agenda

The Way of Bengal

24 March 2024 | Shobori Ganguli | Agenda

The Pizza Philosopher

24 March 2024 | Shobori Ganguli | Agenda

Astroturf | Lord Shiva calls for all-inclusiveness

24 March 2024 | Bharat Bhushan Padmadeo | Agenda

Interconnected narrative l Forest conservation l Agriculture l Food security

24 March 2024 | BKP Sinha/ Arvind K jha | Agenda