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Chinese hackers are said to have targeted phones used by Trump and Vance

Economic TimesEconomic Times · 1y ago
Chinese hackers are said to have targeted phones used by Trump and Vance
Medial

Chinese hackers targeted data from phones used by former President Donald Trump and his running mate, Sen. JD Vance, as part of a wider intelligence-collection effort, according to anonymous sources. The investigation aims to determine what communications data was taken or observed. Access to this information, such as call history and contact frequency, could be highly valuable to an intelligence agency like China. Trump and Vance were among the individuals whose phone numbers were targeted, alongside Democrats and staff members of Vice President Kamala Harris' campaign. The hacking attack, believed to be conducted by a group called Salt Typhoon, has raised concerns about compromised data and potential victims.

China Evergrande liquidation sends shockwaves through financial markets

LivemintLivemint · 2y ago
China Evergrande liquidation sends shockwaves through financial markets
Medial

A Hong Kong court has ordered the liquidation of China Evergrande Group, causing concern in China's financial markets. Trading of Evergrande related shares was halted and the Hang Seng Index rose 1.2%. Analysts agree that the delay in liquidation is surprising and clearing out Evergrande is seen as positive, but doubts remain about the impact on the property sector. There are concerns about the downturn in China's property sector and the effect on the progress of fixing it. The liquidation may also impact confidence among mainland creditors and potential buyers. Offshore creditors will depend on mainland courts recognizing or enforcing the winding-up order from Hong Kong to claim assets. Evergrande, the world's most indebted developer, has $300 billion liabilities and $240 billion assets. The liquidation petition was filed by an investor in June 2022 due to Evergrande's failure to honor an agreement.

Argos Watches raises Rs 6.5 Cr in Angel round

EntrackrEntrackr · 11m ago
Argos Watches raises Rs 6.5 Cr in Angel round
Medial

Argos Watches raises Rs 6.5 Cr in Angel round Indian luxury watch brand Argos Watches has raised Rs 6.5 crore (around $780K) in an angel funding round, valuing the company at Rs 45 crore ($5.4 million) from a group of high-net-worth Indian investors. The proceeds will be used to create new products, build brand awareness, and grow online. Argos aims to double its revenue this year. Founded by Mr. M. Shahiwala, Argos brand offers high-quality, vintage-style automatic and hand-wound watches at affordable prices. It sells its watches only through its website, using a direct-to-consumer model to offer an easy buying experience. Its watches cost between Rs 8,000 and Rs 20,000. Its Apollo series and flagship Olympus watch, a mechanical watch with a power reserve indicator, have gained popularity among Indian watch enthusiasts. As of 2025, Argos remains bootstrapped, with an estimated revenue of around $580,000 annually. The brand plans to launch more models with advanced features while continuing to build its brand through community engagement and digital presence.

Exclusive: Wipro GE-backed GenWorks valuation touches Rs 550 Cr

EntrackrEntrackr · 1y ago
Exclusive: Wipro GE-backed GenWorks valuation touches Rs 550 Cr
Medial

Healthcare firm GenWorks has raised Rs 41 crore (around $5 million) in a funding round led by Evolvence Fund. Somerset Indus Healthcare Fund and key individuals from the Zawawi Group also joined the round. The board at GenWorks Health has passed a special resolution to issue 5,12,500 CCPS at an issue price of Rs 800 each to raise the above sum, its regulatory filing accessed from the Registrar of Companies shows. Evolvence Fund and Somerset Indus Healthcare Fund have injected Rs 26 crore and Rs 8.2 crore, respectively, while Kasiraman Swaminathan and Ramesh Kumar Sivaraman (Group CEO and Finance Manager of Zawawi Group) collectively invested Rs 8.2 crore. According to the startup data intelligence platform TheKredible, the Bengaluru-based company has been valued at around Rs 540-550 crore or $65 million (post-allotment). Following the fresh investment, Evolvence Fund has acquired a 1.51% stake whereas Somerset Indus Healthcare and both the key personnel of Zawawi Group hold 4.54% and 1.52%, respectively. Started as a Wipro GE invested entity, Genworks has raised over $33 million to date, including its $17 million investment round led by Wipro GE and Morgan Stanely in May 2022. Wipro Ge is a joint venture between the Indian IT major and American multinational GE Healthcare. The firm also bagged $4 million from BlackSoil in May 2023. Founded by S GaneshPrasad, GenWorks offers medical devices for Cardiology, ENT, IVD, newborn care, radiology and respiratory diagnosis, among others. As per its website, it has touched over 200 million people in India since its inception, and 6 million lives every year. The ten-year-old company has been growing at a brisk pace in the past few fiscal years. With Rs 447 crore in operating collection during FY23, it registered 20% year-on-year growth over FY22. Meanwhile, its losses also spiked 46% to Rs 44 crore in the same period. GenWorks is yet to report financial numbers for the last fiscal year (FY24).

NSE appoints 20 bankers, 8 law firms for long-awaited IPO

EntrackrEntrackr · 9d ago
NSE appoints 20 bankers, 8 law firms for long-awaited IPO
Medial

The National Stock Exchange of India (NSE) has appointed a consortium of investment bankers and legal advisors for its long-awaited initial public offering (IPO). The exchange has empaneled 20 merchant bankers and eight law firms to advise on the proposed public issue. This is the highest number of book-running managers appointed by an IPO-bound firm in the history of Dalal Street. Among the investment banks appointed are Kotak Mahindra Capital, ICICI Securities, Axis Capital, JM Financial, IIFL Capital Services, SBI Capital Markets, Avendus Capital, and Nuvama Wealth Management. Global banks such as Morgan Stanley India, Citigroup Global Markets India, and J.P. Morgan India are also part of the advisory group. On the legal side, NSE has appointed leading law firms including Cyril Amarchand Mangaldas, Shardul Amarchand Mangaldas, AZB & Partners, Khaitan & Co, Trilegal, and S&R Associates, along with international firms such as Latham & Watkins and Sidley Austin. The IPO is expected to be structured largely as an offer for sale (OFS), allowing existing shareholders to partially offload their holdings rather than raising fresh capital for the exchange. As of February 2026, the exchange has around 25 crore trading accounts and 12.7 crore unique customers. Financially, NSE remains one of the most profitable market infrastructure institutions in India. The exchange reported 17% year-on-year growth in consolidated revenue to Rs 19,177 crore in FY25, while its net profit surged to Rs 12,188 crore during the same period. With the appointment of advisors now underway, the exchange appears to be reviving its long-pending listing plans, setting the stage for what could become one of the most closely watched IPOs in India’s capital markets.

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