In a major turnaround, state-run telecom provider BSNL has reported profits for two consecutive quarters, a marked improvement from its previous struggles. The company's resurgence is attributed to a mix of financial discipline, operational streamlining, and government support, which have allowed it to make progress on its delayed 4G rollout and expand its FTTH services in underserved areas. BSNL's future plans include completing its 4G deployment and increasing its subscriber base, posing a challenge to private players like Reliance Jio and Bharti Airtel. This success story serves as a reminder of the potential of public sector enterprises with the right vision and support.
Fox News, a popular news network, has recently announced special offers for members of the military, veterans, and first responders. These exclusive deals can be accessed through the company's website and can include discounts, free trials, and other perks. For more information, interested individuals can visit the network's FAQ page or contact their customer service representatives. This move by Fox News highlights their commitment to supporting and honoring those who have served their country and communities.
The Karnataka High Court's recent decision to uphold the ban on bike taxi services in Bengaluru has left daily commuters frustrated and struggling with increased traffic congestions. With limited public transportation options and inadequate roads and infrastructure, people are being forced to rely on expensive cabs or auto-rickshaws, leading to longer commutes and added financial burdens. Angry and helpless, commuters are taking to social media to voice their frustrations and call for more walkable and bike-friendly cities.
Cognizant Technology Solutions will be constructing a large IT campus in Visakhapatnam, Andhra Pradesh, with an investment of Rs 1,582.98 crore. The project is expected to create 8,000 job opportunities and will commence commercial operations by March 2029. The Andhra Pradesh government has allotted 21.31 acres of land in Kapuluppada at a nominal rate, as part of their efforts to attract big IT companies and boost employment. The entire project will be self-funded by Cognizant, without any external assistance.
This Friday, Uttar Pradesh Chief Minister Yogi Adityanath will inaugurate the Gorakhpur Link Expressway, a new 91.35-km highway designed to improve road connectivity in eastern Uttar Pradesh. The event will be held at Salarpur in Azamgarh and the Bhagwanpur toll plaza near Gorakhpur. The expressway costed ₹7,283 crore and is expected to reduce the travel time between Gorakhpur and Lucknow to just 3.5 hours. Advanced traffic systems and a security fleet have been installed, and over 22,000 farmers have been compensated for their land. This is the state's seventh operational expressway, showcasing its commitment to regional growth.
The Swiss National Bank has reported a massive increase of Indian investments in Alpine banks, reaching a 14-year high of CHF 3.5 billion. However, only a small portion is directly held in customer accounts, with the majority being routed through other financial channels. This has once again raised concerns about unaccounted "black money" and sparked political debates, while Swiss authorities maintain that not all funds in Swiss banks are illegitimate.
Swiss pension fund Nest Sammelstiftung, known for its sustainable investment strategies, has reported exceptional returns of over 20% from its catastrophe bond and insurance-linked securities (ILS) investments in 2024. The fund values its investments based on environmental and ethical criteria, as well as their potential for uncorrelated returns. Despite ILS being a complex asset class, Nest has seen strong performance and has dedicated experienced external partners for its investment strategy. In 2024, the fund's ILS portfolio achieved a return of approximately 22%, highlighting its contribution to risk diversification and positive long-term returns.
In a move to address the easing of inflationary pressure, the Swiss National Bank has lowered its policy rate to zero from 0.25%. This marks the sixth consecutive cut since March 2024 and the lowest rate since September 2022. The central bank cited high uncertainty in the global economy and the risk it poses to the Swiss economy, as well as the impact of the US' additional import tariffs, which have driven down the cost of Switzerland's imports.
Indian audio streaming startup Kuku FM has secured a whopping $21.8 million in funding, with the majority coming from a venture fund by tech billionaire Nandan Nilekani. This is the company's second round of fundraising this year, with the first one being in March for $19.5 million. With the new capital, Kuku FM plans to expand its catalog, enhance its content production capabilities, and offer listeners more language options. The company aims to have over 10 million paying subscribers by the end of next year.
Marketing professional Ankur Javeri's LinkedIn post has brought attention to the significant financial commitment of raising children in India, especially for those looking to provide the best for their kids. With school fees, extracurricular activities, and everyday living expenses, the total cost of education for a child can easily add up to 12 lakhs per year. When additional monthly expenses like coaching and leisure activities are factored in, the figure jumps to 13 lakhs. This means a parent needs a net salary of around 43-44 lakhs, or a gross salary of 55 lakhs, to afford this lifestyle for their child. The post serves as a wake-up call for many parents who may not have realized the true cost of raising a child in India.
Kuku FM, an Indian audio platform offering content creation tools and hosting a variety of audio content, has secured $19.5 million in Series B funding led by South Korean gaming company KRAFTON. With this investment, Kuku FM plans to expand its language offerings and consolidate content creation. The CEO of Kuku FM highlights the platform's success in attracting users, particularly from Tier 2 cities, and sets ambitious goals for future growth with KRAFTON as a partner. KRAFTON also expresses their excitement for the potential of Indian IPs and regional content in the audio category.