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India added three 'unicorns' per month in 2021 to nearly double the overall number of startups valued at over $1 billion to 51 as of end-August, a report said on Thursday.

Even as, cumbersome regulations are forcing startups to leave India and settle in other countries where they enjoy better treatment, as per the Hurun India, which prepared the list.

&nbsp;It can be noted that over the last few years, dedicated efforts have been undertaken to hone the startups ecosystem by the government through flagship initiatives like 'Startup India'.

Hurun said the number of gazelles, which are valued over $500 million can turn unicorn in two years, was pegged at 32, while there are 54 cheetahs commanding a tag of over $200 million, who can achieve the coveted status in four years, as per the Hurun India Future Unicorn list.

The future unicorns are valued at $36 billion, it said, adding that the leap to being a unicorn can also happen swiftly, as seen in five 'cheetahs' which directly jumped into the unicorn club during the last eight months.

Anas Rahman Junaid, managing director and chief researcher at Hurun India, said preparing the list of such companies which get private placements was a difficult task and added that inputs have been taken from venture capital funds.

"India is home to more than 600 million internet users and is expected to have 900 million users by 2025. The adoption of the internet in rural areas will further compliment the rise of technology start-ups. Fintech companies operating in mobile payments, insurance, blockchain, stock trading and digital lending will grow further to capitalize the internet penetration," he said.

At present, India is the third in the list of countries having the most unicorns, trailing the US (396) and China (277), but ahead of UK (32) and Germany (18), it said.

Rahman, however, hinted that the number could have been higher in India because some startups have left the country after achieving a certain scale for better regulations and capital availability.

"Some of the best enterprise SaaS (software as a service) companies are born in India but 'flipped' to the USA. This is a lost opportunity for India and it is important that these start-ups are incentivised to stay back in the country," he said.

Among the future Unicorns, e-commerce player Zilingo leads the list, followed by Mobile Premier League and Rebel Foods.

At a time when debates rage over the importance of pedigree, the list said IITs and IIMs are the biggest bases to churn out successful entrepreneurs, stating that 17 founders graduated from IIT Delhi, followed by 15 from IIT Bombay and 13 from IIT Kanpur, while IIM-Ahmedabad was the favourite post-graduation school with 13 founders in the list.

Bengaluru is home to 31 startups in the list, followed by Delhi NCR at 18 and Mumbai trails with 13.

From an age perspective, 11 co-founders of companies in the list were under 30 years, while 15 were above 50 years, it said.

The top investors in the Gazelles and Cheetahs in the Hurun India Future Unicorn List 2021 are Sequoia, followed by Tiger Global with 37 and 18 investments, respectively.

India added three 'unicorns' per month in 2021 to nearly double the overall number of startups valued at over $1 billion to 51 as of end-August, a report said on Thursday.

India added three 'unicorns' per month in 2021 to nearly double the overall number of startups valued at over $1 billion to 51 as of end-August, a report said on Thursday. Even as, cumbersome regulations are forcing startups to leave India and settle in other countries where they enjoy better treatment, as per the Hurun India, which prepared the list. It can be noted that over the last few years, dedicated efforts have been undertaken to hone the startups ecosystem by the government through flagship initiatives like 'Startup India'. Hurun said the number of gazelles, which are valued over $500 million can turn unicorn in two years, was pegged at 32, while there are 54 cheetahs commanding a tag of over $200 million, who can achieve the coveted status in four years, as per the Hurun India Future Unicorn list. The future unicorns are valued at $36 billion, it said, adding that the leap to being a unicorn can also happen swiftly, as seen in five 'cheetahs' which directly jumped into the unicorn club during the last eight months. Anas Rahman Junaid, managing director and chief researcher at Hurun India, said preparing the list of such companies which get private placements was a difficult task and added that inputs have been taken from venture capital funds. "India is home to more than 600 million internet users and is expected to have 900 million users by 2025. The adoption of the internet in rural areas will further compliment the rise of technology start-ups. Fintech companies operating in mobile payments, insurance, blockchain, stock trading and digital lending will grow further to capitalize the internet penetration," he said. At present, India is the third in the list of countries having the most unicorns, trailing the US (396) and China (277), but ahead of UK (32) and Germany (18), it said. Rahman, however, hinted that the number could have been higher in India because some startups have left the country after achieving a certain scale for better regulations and capital availability. "Some of the best enterprise SaaS (software as a service) companies are born in India but 'flipped' to the USA. This is a lost opportunity for India and it is important that these start-ups are incentivised to stay back in the country," he said. Among the future Unicorns, e-commerce player Zilingo leads the list, followed by Mobile Premier League and Rebel Foods. At a time when debates rage over the importance of pedigree, the list said IITs and IIMs are the biggest bases to churn out successful entrepreneurs, stating that 17 founders graduated from IIT Delhi, followed by 15 from IIT Bombay and 13 from IIT Kanpur, while IIM-Ahmedabad was the favourite post-graduation school with 13 founders in the list. Bengaluru is home to 31 startups in the list, followed by Delhi NCR at 18 and Mumbai trails with 13. From an age perspective, 11 co-founders of companies in the list were under 30 years, while 15 were above 50 years, it said. The top investors in the Gazelles and Cheetahs in the Hurun India Future Unicorn List 2021 are Sequoia, followed by Tiger Global with 37 and 18 investments, respectively.

India added three 'unicorns' per month in 2021: Hurun report

Brazil's economy has contracted by 0.1 percent in the second quarter. The setback for the country's economy came as a serious second wave of COVID-19 infections triggered restrictions in major cities during April and May.

World Business Watch: Brazil's economy down by 0.1% in second quarter

The global ban and travel ban have dented business in China's gambling hub Macau which is one of its kind recreational centre in Asia as well.

World Business Watch: COVID-19 hits China's gambling hub, business remains muted in casinos

Amazon is planning a huge recruitment drive and looking to hire 55,000 people for corporate and tech role globally. Reuters reported about the recruitment plans citing Amazon Chief Executive Andy Jassy exclusively. This was Jassy's first press interview since taking Amazon's top post in July.

The recruitment headcount alone is more than a third of Google's as of June 30 and is close to all of Facebook's

Jassy said that Amazon needed more firepower to keep up with demand in retail, the cloud, advertising and other businesses. &nbsp;He said the company's new bet to launch satellites into orbit to widen broadband access, called Project Kuiper, would require a lot of new hires, too.

With Amazon's annual job fair scheduled to begin Sept. 15, Jassy hopes now is a good time for recruiting.&nbsp; 
“There are so many jobs during the pandemic that have been displaced or have been altered, and there are so many people who are thinking about different and new jobs,” said Jassy, who cited a U.S. survey from PwC that 65% of workers wanted a new gig.

“It’s part of what we think makes ‘Career Day’ so timely and so useful,” he said. The new hires would represent a 20% increase in Amazon's tech and corporate staff, who currently number around 275,000 globally, the company said.

Amazon’s move, only the latest hiring spree on which it has embarked, follows a period of heightened scrutiny of its labor practices and opposition by the International Brotherhood of Teamsters. read more Earlier this year, a failed effort by some staff in Alabama to organize put on display Amazon’s taxing warehouse work and its aggressive stance against unions. In that battle’s aftermath, Jeff Bezos, the CEO whom Jassy succeeded, said Amazon needed a better vision for employees.

Asked how he might change Amazon’s demanding workplace culture, Jassy said its heavy focus on customers and inventiveness set it up for improvements.

“Everybody at the company has the freedom - and really, the expectation - to critically look at how it can be better and then invent ways to make it better.”

The positions Amazon is marketing include engineering, research science and robotics roles, postings that are largely new to the company rather than jobs others quit, it said.

In a reopening U.S. economy, and tightening labor market, some companies have struggled to fill vacancies and balance remote and in-person work. It was unclear how many of the Amazon jobs - such as for competitive engineering hires - have been open for some time.

Amazon, which earlier touted an "office-centric culture," later dialed back its vision and offered workers the opportunity to spend just three days a week at its offices in person starting next year.

Amazon is planning a huge recruitment drive and looking to hire 55,000 people for corporate and tech role globally. Reuters reported about the recruitment plans citing Amazon Chief Executive Andy Jassy exclusively.

Amazon is planning a huge recruitment drive and looking to hire 55,000 people for corporate and tech role globally. Reuters reported about the recruitment plans citing Amazon Chief Executive Andy Jassy exclusively. This was Jassy's first press interview since taking Amazon's top post in July. The recruitment headcount alone is more than a third of Google's as of June 30 and is close to all of Facebook's Jassy said that Amazon needed more firepower to keep up with demand in retail, the cloud, advertising and other businesses. He said the company's new bet to launch satellites into orbit to widen broadband access, called Project Kuiper, would require a lot of new hires, too. With Amazon's annual job fair scheduled to begin Sept. 15, Jassy hopes now is a good time for recruiting. “There are so many jobs during the pandemic that have been displaced or have been altered, and there are so many people who are thinking about different and new jobs,” said Jassy, who cited a U.S. survey from PwC that 65% of workers wanted a new gig. “It’s part of what we think makes ‘Career Day’ so timely and so useful,” he said. The new hires would represent a 20% increase in Amazon's tech and corporate staff, who currently number around 275,000 globally, the company said. Amazon’s move, only the latest hiring spree on which it has embarked, follows a period of heightened scrutiny of its labor practices and opposition by the International Brotherhood of Teamsters. read more Earlier this year, a failed effort by some staff in Alabama to organize put on display Amazon’s taxing warehouse work and its aggressive stance against unions. In that battle’s aftermath, Jeff Bezos, the CEO whom Jassy succeeded, said Amazon needed a better vision for employees. Asked how he might change Amazon’s demanding workplace culture, Jassy said its heavy focus on customers and inventiveness set it up for improvements. “Everybody at the company has the freedom - and really, the expectation - to critically look at how it can be better and then invent ways to make it better.” The positions Amazon is marketing include engineering, research science and robotics roles, postings that are largely new to the company rather than jobs others quit, it said. In a reopening U.S. economy, and tightening labor market, some companies have struggled to fill vacancies and balance remote and in-person work. It was unclear how many of the Amazon jobs - such as for competitive engineering hires - have been open for some time. Amazon, which earlier touted an "office-centric culture," later dialed back its vision and offered workers the opportunity to spend just three days a week at its offices in person starting next year.

Amazon to hire 55,000 people in a big recruitment push

Western Union announced on Thursday that it would resume its money transfer service to Afghanistan as the Taliban deal with enormous economic hurdles following their takeover last month.

"Western Union is pleased to share that it is resuming its money transfer services into Afghanistan, starting September 2, so that our customers can once again send money and support their loved ones at this time," a spokesperson said.

"We understand the urgent needs of our customers and their families and are committed to supporting them," the spokesperson said, adding that Western Union would waive transfer fees from September 3 through 17.

Remittances from Afghans living abroad are crucial for the impoverished country's economy and amounted to almost $789 billion last year, according to the World Bank.

The Washington-based development bank last week announced it would suspend aid to Afghanistan, saying it was "deeply concerned about the situation in Afghanistan and the impact on the country's development prospects, especially for women."

The IMF announced shortly after the Taliban's takeover that it would suspend its assistance to the country, citing uncertainty surrounding its leadership.

Western Union announced on Thursday that it would resume its money transfer service to Afghanistan as the Taliban deal with enormous economic hurdles following their takeover last month.

Western Union announced on Thursday that it would resume its money transfer service to Afghanistan as the Taliban deal with enormous economic hurdles following their takeover last month. "Western Union is pleased to share that it is resuming its money transfer services into Afghanistan, starting September 2, so that our customers can once again send money and support their loved ones at this time," a spokesperson said. "We understand the urgent needs of our customers and their families and are committed to supporting them," the spokesperson said, adding that Western Union would waive transfer fees from September 3 through 17. Remittances from Afghans living abroad are crucial for the impoverished country's economy and amounted to almost $789 billion last year, according to the World Bank. The Washington-based development bank last week announced it would suspend aid to Afghanistan, saying it was "deeply concerned about the situation in Afghanistan and the impact on the country's development prospects, especially for women." The IMF announced shortly after the Taliban's takeover that it would suspend its assistance to the country, citing uncertainty surrounding its leadership.

Western Union is restarting money transfer services to Afghanistan

Auto sales have remained a mixed bag in the month of August in India, with some automakers suffering from chip shortages. Maruti Suzuki has registered total sales of over 130,000 units in the previous month.

World Business Watch: India's August auto sales skid on chip shortage, firms await festival season

India's carmakers are awaiting the festival season this year, they are hopeful that along with pent-up demand sales will be good for them during this period. WION's Sumit Chaturvedi talks to PB Venugopal, President of Lexus India for more perspective.

World Business Watch: Festival period, pent up demand to contribute auto sales says Lexus India

As coronavirus lockdowns weighed more on supply than demand, Australian home prices rose at the fastest annual pace since August 1989, though months of blistering gains are increasingly putting housing beyond the reach of many.

World Business Watch: Australia housing sales defies delta, boasts best year 1989

The world’s biggest companies are back to their pre-pandemic levels of confidence in the global economy’s prospects and most expect to make acquisitions to boost growth, as per a KPMG survey.

World Business Watch: KPMG survey shows CEOs back to pre-pandemic levels of confidence

The recovery of global economies worldwide is facing a host of challenges and has been uneven. How developing nations are looking at economic recovery? What's in store for the future? WION's Sumit Chaturvedi talks to Ms. Busi Mabuza, Chair, BRICS Business Council for more perspective.

World Business Watch: How developing nations are looking at global economic recovery?

South Korea has become the first country in the world to ban big tech firms' payment policies, forcing developers to only use their proprietary billing systems. The country has passed the 'Anti-Google law' bill.

World Business Watch: South Korea bans app payment monopolies by Apple, Google in world first

As production contracted for the first time in 12 months and slowed demand due to rising COVID-19 infections, South Korea's factory activity has slowed in August, also impacted by the supply chain disruptions across the region.

World Business Watch: South Korea's factory activity growth slows as output shrinks

Despite fresh all-time highs on Wall Street, Asian stock markets opened lower today, as worries about China's slowing economic growth and regulatory changes weighed on investor sentiments. WION's Sumit Chaturvedi talks to Margaret Yang Yan, DailyFX strategist for more perspective.

World Business Watch: Fresh all time highs on wall street registered

By the 1970s, nearly all petrol produced around the world contained lead. Now, the last country to use it, Algeria, has finally stopped selling it at petrol stations. With this, the use of leaded petrol has come to an end.

World Business Watch: Algeria ends leaded fuel sales at petrol stations

All eyes are on India's April to June or Q1 GDP data figures that will be out today (August 31). During this period though India was hit by the severe second COVID-19 wave.

World Business Watch: India is set to post record fiscal first-quarter GDP

On Monday, the Indian stock market indices, the Sensex and Nifty, closed at all-time highs.

The Sensex ended the day at 56,889.76, up 765.04 points or 1.36 percent, while the Nifty closed at 16,931.05, up 225.85 points or 1.35 percent.

During the day's trading, the Sensex reached a high of 56,958.27, while the Nifty reached a high of 16,951.50.

This week, India's gross domestic product (GDP) data for the June quarter is at the top of the agenda.

The purchasing managers' indices (PMI) for August are also due, and will serve as the most recent report card on the progress of Indian businesses' recovery.

In other news, the eurozone and China's PMI data will be closely scrutinised.

The top index gainers included Bharti Airtel, Axis Bank, Tata Steel, Titan Company, Maruti Suzuki, Bajaj Finance, State Bank of India (SBI), Asian Paints, and RIL, among others.

On the other hand, Sensex laggards included Nestle India, Tech Mahindra, Infosys, and Tata Consultancy Services (TCS).

(With inputs from agencies)

On Monday, the Indian stock market indices, the Sensex and Nifty, closed at all-time highs. The Sensex ended the day at 56,889.76, up 765.04 points or 1.36 percent, while the Nifty closed at 16,931.

On Monday, the Indian stock market indices, the Sensex and Nifty, closed at all-time highs. The Sensex ended the day at 56,889.76, up 765.04 points or 1.36 percent, while the Nifty closed at 16,931.05, up 225.85 points or 1.35 percent. During the day's trading, the Sensex reached a high of 56,958.27, while the Nifty reached a high of 16,951.50. This week, India's gross domestic product (GDP) data for the June quarter is at the top of the agenda. The purchasing managers' indices (PMI) for August are also due, and will serve as the most recent report card on the progress of Indian businesses' recovery. In other news, the eurozone and China's PMI data will be closely scrutinised. The top index gainers included Bharti Airtel, Axis Bank, Tata Steel, Titan Company, Maruti Suzuki, Bajaj Finance, State Bank of India (SBI), Asian Paints, and RIL, among others. On the other hand, Sensex laggards included Nestle India, Tech Mahindra, Infosys, and Tata Consultancy Services (TCS). (With inputs from agencies)

Indian Stock market closes at record high: Sensex soars 765.04 points to fresh closing peak

Snapping a three-day rally on renewed concerns over demand due to rising COVID-19 infections and as Mexico restored some output after a fire disrupted supplies, oil prices settled lower on Thursday.

World Business Watch: Oil rally falters on pandemic surge, renewed Mexico supply

As elevated commodity prices and supply chain constraints from extreme weather and COVID-19 cases, weighed on the manufacturing sector in China. Profit growth in July has grown at the slowest scale this year.

World Business Watch: China's industrial profit growth slows on Delta outbreak, floods & high costs

As a part of its new corporate strategy, Audi will end combustion engine production completely by 2033. It will launch new models from 2026, which will be all-electric.

World Business Watch: Audi to end combustion engine production in 2033

Qantas Airways is preparing for international travel with countries with high vaccine rates to resume in December, sending shares higher, as it reported a narrower annual loss of $1.26 billion.

World Business Watch: Qantas aims for international travel from December as loss narrows

British car output fell to its lowest July level since 1956 as a global shortage of semi-conductor chips and staff having to self-isolate due to COVID-19 hit the sector.

World Business Watch: British car output fell to lowest July level since 1956

The world economy is facing a supply chain problem that is more severe in countries like the UK where the surging delta variant has disturbed logistics.

World Business Watch: The world economy’s supply chain problem keeps getting worse

The US government said it would work with industry to hammer out new guidelines to improve the security of the technology supply chain, as President Joe Biden appealed to private sector executives to "raise the bar on cybersecurity."

World Business Watch: US to work with Big Tech, finance sector on new cybersecurity guidelines

Chinese ride-hailing giant Didi Global Inc has suspended its plans to launch in Britain and continental Europe, The Telegraph reported on Monday, against the backdrop of a regulatory backlash at home over data privacy.

Staff working on the planned launches have been told that they face possible redundancy and Didi has stopped hiring in Britain, pulling the launch plans for at least a year, according to the report.&nbsp;

"We continue to explore additional new markets, liaising with relevant stakeholders in each and being thoughtful about when to introduce our services," a Didi spokesperson said, without mentioning the UK launch plans.

"As soon as we have any more news on additional new markets, we look forward to sharing."

Chinese companies have been caught in a pincer with increasing U.S. scrutiny on one side and a domestic regulatory crackdown on the country's massive internet sector.

The move has rattled tech giants in the country and Didi is under a cybersecurity review, as China revamps its policy towards privacy and data security to ensure secure storage of user data.

Didi which listed its shares in New York in June after raising $4.4 billion in an initial public offering, is looking to expand its international business with recent launches in South Africa, Ecuador and Kazakhstan. 
&nbsp;

Chinese ride-hailing giant Didi Global Inc has suspended its plans to launch in Britain and continental Europe, The Telegraph reported on Monday, against the backdrop of a regulatory backlash at home over data privacy.

Chinese ride-hailing giant Didi Global Inc has suspended its plans to launch in Britain and continental Europe, The Telegraph reported on Monday, against the backdrop of a regulatory backlash at home over data privacy. Staff working on the planned launches have been told that they face possible redundancy and Didi has stopped hiring in Britain, pulling the launch plans for at least a year, according to the report. "We continue to explore additional new markets, liaising with relevant stakeholders in each and being thoughtful about when to introduce our services," a Didi spokesperson said, without mentioning the UK launch plans. "As soon as we have any more news on additional new markets, we look forward to sharing." Chinese companies have been caught in a pincer with increasing U.S. scrutiny on one side and a domestic regulatory crackdown on the country's massive internet sector. The move has rattled tech giants in the country and Didi is under a cybersecurity review, as China revamps its policy towards privacy and data security to ensure secure storage of user data. Didi which listed its shares in New York in June after raising $4.4 billion in an initial public offering, is looking to expand its international business with recent launches in South Africa, Ecuador and Kazakhstan.

Didi suspends UK launch plans amid China crackdown on tech firms - Telegraph

US officials have approved license applications worth hundreds of millions of dollars for China's blacklisted telecom company Huawei to buy chips for its growing auto component business.

World Business Watch: US approves licenses for Huawei to buy auto chips

Goldman Sachs told employees that from Tuesday anyone entering its offices in the United States must be fully vaccinated against COVID-19.

World Business Watch: Goldman Sachs to mandate COVID vaccine for staff, visitors at US offices