Mediobanca and Founders Factory Collaborate to Nurture 35 Startups with €12M Investment
In a strategic move to foster innovation and support the thriving startup ecosystem, leading Italian investment bank Mediobanca has joined forces with Founders Factory, a renowned global startup accelerator, to invest €12 million in nurturing 35 promising startups. The groundbreaking collaboration aims to fuel the growth of innovative ventures across various industries, propelling them to […]
Prosus Accuses India’s Byju’s of Regularly Disregarding Advice
Prosus, a prominent global consumer internet group, has accused India’s edtech giant Byju’s of consistently ignoring advice and recommendations from its investors. The accusation, made public on July 25, 2023, raises concerns about the company’s governance and its approach to decision-making amid its rapid growth and expansion. Prosus is an investment holding company that holds […]
UK Government Calls Banks to Account Over Account Closures
In response to growing concerns over bank account closures, the UK government has taken a decisive step to hold banks accountable for their actions. On July 24, 2023, government officials summoned major banks to address the issue and demanded transparency regarding their closure policies. The move comes amid mounting public outrage and accusations of unfair […]
Yes Bank Reports 10.3% Quarterly Net Profit Growth, Focuses on Asset Quality and Prudent Growth Strategies
Yes Bank, a private lender based in India, announced a 10.3% rise in quarterly net profit for the April-June period, amounting to 3.43 billion rupees ($5.25 million), when compared to the corresponding period in the previous year. However, the net profit missed analysts’ average forecast of 3.80 billion rupees, dampened by higher provisions and contingencies […]
Reserve Bank of India’s Forex Interventions: A Strategic Stance to Stabilize the Rupee
In May, the Reserve Bank of India (RBI) made significant moves in the spot foreign exchange market, purchasing a total of $7.37 billion, as revealed by the data released in the central bank’s monthly bulletin. Notably, the RBI did not engage in any dollar sales during the reported month. This comes after the RBI’s net […]
Mastercard and Geidea Forge Strategic Partnership to Revolutionize FinTech in Saudi Arabia
Mastercard, a globally recognized leader in payment solutions, has entered into a strategic partnership with Geidea, the foremost FinTech innovator in Saudi Arabia. The primary objective of this partnership is to enhance consumer and business access to world-class card and payment solutions, aiming to revolutionize the financial landscape in the region. Geidea, the largest FinTech […]