Amazon India Launches Multi-Channel Fulfilment Service for Sellers
Amazon has introduced a Multi-Channel Fulfilment (MCF) service for sellers in India, including direct-to-consumer brands, retailers, and manufacturers. This service enables sellers to use a single inventory source within Amazon's fulfillment centers to fulfill all their orders. It offers extensive coverage of India's serviceable pin codes and addresses challenges like digitization, limited reach, and productivity constraints for small and medium-sized brands. With MCF, sellers can streamline order fulfillment, automate off-Amazon orders, track them, and generate tax invoices, ensuring fast delivery and eliminating the need for separate inventory management across various sales channels. The introductory price for MCF is ₹59.
Fox × News Corp
Media tycoon Rupert Murdoch (92) penned a memo to his employees on Thursday, announcing his decision to step down as chairman of Fox and News Corp. His son, Lachlan, will now head both companies. Murdoch had launched the most widely watched news channel in the US – Fox News – way back in 1996. He will now transition as Chairman Emeritus of both firms by mid-November.
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Safexpay Expands into Middle East with Cutting-Edge Digital Payment Solutions
Digital payments platform Safexpay has expanded into the Middle East, targeting Oman, Qatar, and Saudi Arabia. They plan to offer various digital payment solutions, including white-labeled payment aggregation, facial recognition-based payments, and single-click checkout. Safexpay has partnered with organizations like Magnati, Abu Dhabi Islamic Bank, and Dubai Chamber of Commerce to onboard merchants. CEO Ravi Gupta aims to establish a strong presence in the GCC region and expects rapid growth in contactless payments. They plan to invest $8-10 million and anticipate an annual growth rate of 80-100% by 2025, aiming to onboard 5,000 merchants in the next 2-3 years.
Everest Fleet Secures $6 Million Investment for Shared Mobility Expansion
Indian fleet management firm Everest Fleet has secured ₹50 crore (approximately $6 million) in private equity funding from Paragon Partners to fuel its expansion efforts in the shared mobility sector. Previously, Everest Fleet raised $20 million in a round led by Uber, marking Uber's first investment of this kind in India. The company has also attracted investments from Artha Venture Fund and Rockstud Capital, and it plans to transition its fleet from CNG cars to electric vehicles, with a goal of reaching 10,000 EVs by 2026. Everest Fleet currently operates in seven major Indian cities and serves both Uber and Ola.
India to Host Prestigious International Congress on Cement Chemistry in 2027
India has secured the opportunity to host the International Congress on the Chemistry of Cement (ICCC) in 2027, a prominent event in the cement industry that assesses advancements in cement and concrete production. ICCC, which focuses on cement chemistry and applications, has been held periodically since 1918. India's successful bid, backed by organizations like IIT Delhi and the National Council for Cement and Building Materials (NCCBM), prevailed over UAE and Switzerland. Currently, China leads global cement production, followed by India, with NCCBM playing a crucial role in hosting international conferences in this domain.
Aparna C Iyer Named Wipro's New Chief Financial Officer (CFO)
Aparna C Iyer has been appointed as the new Chief Financial Officer (CFO) of Wipro following the resignation of Jatin Dalal. Iyer, a qualified Chartered Accountant with extensive experience in finance, risk management, and strategy, has been with Wipro for over 20 years. Her appointment is effective from September 22, and she will report to CEO Thierry Delaporte while joining the Wipro executive board. Dalal, who had diverse roles in finance at Wipro since 2002, left to explore other career opportunities, according to a company statement.
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