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Construction, travel among 18 sectors to ring in $2 trillion revenue

Economic Times

Economic Times · 26d ago

Construction, travel among 18 sectors to ring in $2 trillion revenue

A McKinsey report identifies 18 transformative sectors, such as urban construction, travel, and tourism, and renewable energy, which could generate $1.7-2 trillion in revenue for India by 2030. These sectors represented $690 billion in revenue in 2023 and could contribute 30% of India's incremental GDP by 2040, aiding its goal of becoming a developed economy by 2047. Urban construction is expected to bring in $400-490 billion by 2030.

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Samsung leak hints at Galaxy Ring 2 launch with enhanced features: Report

Livemint

Livemint · 8m ago

Samsung leak hints at Galaxy Ring 2 launch with enhanced features: Report

Samsung is rumored to be launching its second-generation smart ring, the Galaxy Ring 2. Though official details are scarce, leaked information suggests that the device could be released earlier than expected. The new ring may feature a slimmer design, improved battery life, and enhanced functionality to seamlessly integrate with Samsung's Galaxy smartphones and other devices. The Galaxy Ring 2 is expected to build upon the success of its predecessor, the Galaxy Ring, which was known for its lightweight and comfortable design.

BlackRock’s assets surge past $12 trillion

Livemint

Livemint · 1d ago

BlackRock’s assets surge past $12 trillion

BlackRock's assets surged to a record $12.53 trillion in the second quarter, driven by record-high U.S. stock prices and $68 billion in net client inflows, marking an 18% increase from the previous year. The investment firm's revenue rose by 13% to $5.42 billion, solidifying its position as the world's first $12 trillion money manager. The surge underscores strong financial performance amidst favorable market conditions.

Easy Trip loses booking war with MakeMyTrip in key holiday quarter

Economic Times

Economic Times · 1y ago

Easy Trip loses booking war with MakeMyTrip in key holiday quarter

Easy Trip Planners, an online travel aggregator in India, experienced its slowest quarterly revenue growth, while rival MakeMyTrip achieved record-high bookings during the holiday quarter. Easy Trip's revenue for the third quarter increased by 18%, reaching Rs 161 crore ($19.4 million), as compared to the rapid growth it had seen since going public. The travel industry in India is booming, but online aggregators like Easy Trip face tough competition from MakeMyTrip, known for its lower charges and better service. Easy Trip aims to strengthen its non-air travel business through strategic investments.

Manufacturing-focussed startups got $8 billion in investments over 7 years: Prashanth Prakash

Economic Times

Economic Times · 1y ago

Manufacturing-focussed startups got $8 billion in investments over 7 years: Prashanth Prakash

According to Prashanth Prakash, chairman of Karnataka Startup Vision Group, manufacturing-focused startups in India have attracted around $8 billion in investments over the past seven years. He believes that startups will play a crucial role in Karnataka's manufacturing sector and contribute towards the state's goal of becoming a $1 trillion economy. Prakash emphasized the importance of building a world-class startup-driven manufacturing ecosystem, with opportunities in various sectors such as construction, food processing, textiles, chemicals, toys, electricals, packaging, and electric vehicles.

Visa processing firm Atlys eyes $15-18M raise from Peak XV, others

Inshorts · 1y ago

Visa processing firm Atlys eyes $15-18M raise from Peak XV, others

Travel tech startup Atlys, which counts Andreessen Horowitz, Elevation Capital, and South Park Commons among its investors, is reportedly in talks with existing investor Peak XV Partners and others to raise $15-18 Mn in its Series B round. The startup is eyeing a valuation of nearly $70 Mn, Entrackr reported. The funding round will be led by Peak XV.

‘MakeMyTrip’s next phase of growth to come from corporate, intercity travel and homestays segments’

Thehindubusinessline

Thehindubusinessline · 1y ago

‘MakeMyTrip’s next phase of growth to come from corporate, intercity travel and homestays segments’

MakeMyTrip, a leading company in the hotel and air travel sectors, is focusing on growth in corporate, bus, and inter-city travel segments. The corporate business unit has shown steady growth of 30-40% year-on-year and is expected to surpass current market leader Yatra.com. MakeMyTrip's revenue mix has also shifted, with hotels and accommodations contributing 45% of revenue. The company anticipates further growth in the hotel segment, along with homestays and investments in intercity cab services. With increasing demand from the middle class and infrastructure expansion, MakeMyTrip expects the overall travel industry in India to grow.

Nvidia’s role in the AI wave has made it a $2 trillion company

The Verge

The Verge · 1y ago

Nvidia’s role in the AI wave has made it a $2 trillion company

Nvidia has become the first chipmaker to reach a market capitalization of $2 trillion, following strong growth in the AI chip market. The California-based company reported record revenue of $60.9 billion in 2023, a 126% increase from the previous year. Nvidia's rapid ascent has left other tech giants like Amazon and Alphabet behind. While companies like Microsoft and Intel are working on their own AI chips, matching Nvidia's performance and production capabilities remains a challenge. This milestone places Nvidia in an elite group alongside Apple and Microsoft, who have also surpassed the $2 trillion valuation mark.

Cryptoverse: Breezy bitcoin reclaims $1 trillion crown

Economic Times

Economic Times · 1y ago

Cryptoverse: Breezy bitcoin reclaims $1 trillion crown

Bitcoin has surpassed the $1 trillion market value mark for the first time since late 2021, boosted by a 22% surge in price this year. The overall cryptocurrency market has also exceeded $2 trillion. The rise in value is attributed to the approval of several spot bitcoin exchange-traded funds (ETFs) in the US, with BlackRock and Fidelity among the companies introducing them. Trading volumes and interest in cryptocurrencies have increased, and experts predict bitcoin could reach all-time highs of $150,000 by 2025. However, there are cautionary signs of potential market correction caused by investor greed.

Microsoft’s gaming revenues overtake Windows thanks to Activision Blizzard

Ycombinator

Ycombinator · 1y ago

Microsoft’s gaming revenues overtake Windows thanks to Activision Blizzard

Microsoft has posted its second-quarter fiscal financial results for 2024, reporting a revenue of $62 billion and a net income of $21.9 billion. With revenue up 18% and net income increasing by 33%, this is also the first quarter in which Microsoft is reporting earnings as a $3 trillion company. The gaming division, bolstered by the recently acquired Activision Blizzard, has become Microsoft's third-largest business. Office and cloud services remain the company's top revenue contributors, while Surface sales continue to decline.

GCC hiring momentum to continue next year with 18-20% surge in uptake

Economic Times

Economic Times · 6m ago

GCC hiring momentum to continue next year with 18-20% surge in uptake

Global capability centres (GCCs) are expected to continue their growth in 2025, with a projected 18-20% increase in hiring. These centres, which act as strategic innovation hubs for global enterprises, are set to create around 340,000-380,000 additional jobs in the coming year. Traditional sectors like BFSI, healthcare, and retail, as well as emerging sectors like travel and logistics, are driving the demand for GCCs to facilitate digital transformation and operational efficiency. Technology roles such as AI/ML engineers and cybersecurity specialists are expected to be in high demand, along with leadership positions in innovation and operations.

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