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IDBI Bank privatisation: Govt holding roadshows to gauge investor interest

The government is holding roadshows for IDBI Bank privatisation and will come out with EoI after assessing investor interest, Minister of State for Finance Bhagwat Karad said on Monday. The Cabinet Committee on Economic Affairs had in May last year given inprinciple approval for strategic disinvestment and transfer of management control in IDBI Bank. The government and LIC together own more than 94 per cent equity of IDBI Bank. However, the exact quantum of stake dilution is yet to be decided.

PhonePe acquires GigIndia, top network for freelance micro-entrepreneurs

Walmart-owned fintech firm PhonePe said that it has acquired GigIndia, the country’s leading network for freelance micro-entrepreneurs. As a part of the acquisition, GigIndia which has 1.5 million entrepreneurs, and over 100 enterprises as customers, will integrate with PhonePe. The companies did not reveal the value of the transaction. GigIndia has about 100 employees and they will join PhonePe. PhonePe will leverage GigIndia's network of freelance microentrepreneurs to help corporates and enterprises acquire more customers and scale up their distribution channels. This acquisition will also strengthen PhonePe’s offerings and value proposition to its enterprise partners and result in the creation of millions of opportunities for individual freelance microentrepreneurs in India. According to reports, India’s freelance community is projected to grow to $20-30 billion by 2025.

'Qualcomm chips dominate in Android devices priced above $300'

Qualcomm has dominated the mid-range and premium flagship market with around 50 per cent market share across all price brackets above $300. According to Counterpoint Research, Qualcomma's share in smartphones priced above $500 increased from 41 per cent in 2020 to 55 per cent in 2021 owing to the launch of flagships Snapdragon 888 and 8Gen 1.

L&T Technology Services aims for carbon, water neutrality by 2030

L&T Technology Services (LTTS) aims to achieve carbon and water neutrality by 2030 and has unveiled its first sustainability report, the company said on Monday. The report, conforming to the Global Reporting Initiative (GRI), presents LTTS'sustainability efforts acrossits key elementsfor fiscal 2020-21. "L&T Technology Services Limited, a leading global pure-play engineering services company, released its first Sustainability Report for the year 2020- 21, with a roadmap to achieve carbon and water neutrality by 2030," the company said in a statement.

In touch with Tata for providing new aircraft for Air India:

Airbus India Global aerospace major Airbus India on Monday said that it is in touch with Tata Group for providing its new aircraft A350 for Air India. Speaking at a company event here to showcase the new generation aircraft A350, Airbus India President Remi Maillard said: "We are in talks with all airlines."

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