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<keyword id="19922074" type="General" weightage="20" keywordseo="Reserve-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank" meta.hostid="153" meta.entityid="Reserve Bank">Reserve Bank</keyword> Deputy Governor Swaminathan J has said State Level Bankers' Committees (SLBC) can play a more effective role in <keyword id="20377974" type="General" weightage="20" keywordseo="financial-inclusion" source="keywords">financial inclusion</keyword> through better <keyword id="20331879" type="General" weightage="20" keywordseo="coordination" source="keywords">coordination</keyword> with government and <keyword id="19944971" type="General" weightage="20" keywordseo="NGOs" source="keywords" meta.keywordsubtype="org" meta.entityname="NGOs" meta.hostid="153" meta.entityid="NGOs">NGOs</keyword> in <keyword id="22163854" type="General" weightage="20" keywordseo="credit-planning" source="keywords">credit planning</keyword> and promoting <keyword id="22122561" type="General" weightage="20" keywordseo="digital-financial-literacy" source="keywords">digital financial literacy</keyword>. Observing that the role of <keyword id="22163853" type="General" weightage="100" keywordseo="SLBCs" source="keywords">SLBCs</keyword> in fostering inclusive and <keyword id="20289318" type="General" weightage="20" keywordseo="sustainable-growth" source="keywords">sustainable growth</keyword> is crucial and multifaceted, he said, it can drive significant progress in bridging the gap between financial services and the underserved populations. "By focusing on effective <keyword id="20331879" type="General" weightage="20" keywordseo="coordination" source="keywords">coordination</keyword> with government and <keyword id="19944971" type="General" weightage="20" keywordseo="NGOs" source="keywords" meta.keywordsubtype="org" meta.entityname="NGOs" meta.hostid="153" meta.entityid="NGOs">NGOs</keyword>, adopting a scientific approach to <keyword id="22163854" type="General" weightage="20" keywordseo="credit-planning" source="keywords">credit planning</keyword>, and emphasising <keyword id="22122561" type="General" weightage="20" keywordseo="digital-financial-literacy" source="keywords">digital financial literacy</keyword>, <keyword id="22163853" type="General" weightage="100" keywordseo="SLBCs" source="keywords">SLBCs</keyword> can create a more inclusive financial ecosystem," he said at the Conference of Convenors of SLBCs at Pune on June 19. "As we move forward, it is essential to monitor and measure the tangible outcomes of our efforts, ensuring that the benefits of <keyword id="20377974" type="General" weightage="20" keywordseo="financial-inclusion" source="keywords">financial inclusion</keyword> reach every corner of our country," he said. By tailoring initiatives to local conditions and needs, and by fostering a culture of financial literacy, he said there is a need to empower individuals to actively participate in the formal economy, thereby contributing to the broader goal of inclusive and sustainable economic development that is essential for a Viksit Bharat 2047. "I urge all stakeholders to continue working collaboratively, leveraging the strengths of each sector, and harnessing the power of technology to create a financially inclusive society," he said. As part of aspirational goals for <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords" meta.keywordsubtype="org" meta.entityname="RBI" meta.hostid="153" meta.entityid="RBI">RBI</keyword>'s centenary, referred to as RBI@100, he said, among these targets are deepening financial inclusion and expanding credit availability. Deepening financial inclusion is not merely about increasing the number of bank accounts but about ensuring that every individual has access to a comprehensive range of financial services tailored to their needs, he said. This includes savings, credit, insurance, and investment products that can enhance their economic well-being, he said. Expanding credit availability, particularly to underserved sectors such as micro, small and medium enterprises (MSMEs), agriculture, and marginalised communities, is crucial for fostering <keyword id="20421749" type="General" weightage="20" keywordseo="inclusive-growth" source="keywords">inclusive growth</keyword> and sustainable development, he added. While these may appear as part of RBI@100 objectives, they are, in fact, the goals of every stakeholder in the financial ecosystem aligned with national interest, he said, adding, achieving these aspirations requires a collective effort involving government agencies, non-governmental organisations, financial institutions, and the banking community. The role of SLBCs in this journey is pivotal, as they are the linchpin connecting various stakeholders and ensuring that the financial system works seamlessly at the grassroots level, he added.

SLBCs can play effective role in financial inclusion by better coordination with govt, NGOs: RBI DG

Leading multiplex operator <keyword id="19986619" type="General" weightage="100" keywordseo="PVR-INOX" source="keywords">PVR INOX</keyword> plans to close 70 <keyword id="22996404" type="General" weightage="20" keywordseo="non-performing-screens" source="Orion">non-performing screens</keyword> in FY25 and will go for potential <keyword id="20069509" type="General" weightage="20" keywordseo="monetisation" source="keywords">monetisation</keyword> of non-core <keyword id="20478737" type="General" weightage="20" keywordseo="real-estate-assets" source="keywords">real estate assets</keyword> in prime locations such as Mumbai, Pune, and Vadodara, according to its latest annual report. Though the company will add 120 new screens in FY25, it will also close almost 60-70 non-performing screens, as it chases for <keyword id="738150" type="General" weightage="20" keywordseo="profitable-growth" source="Orion">profitable growth</keyword>. About 40 per cent of new screens addition will come from South India, where it will have a "strategic focus" on this lesser penetrated region as per its medium to long-term strategy. Moreover, <keyword id="799" type="General" weightage="20" keywordseo="PVR" source="Orion">PVR</keyword> <keyword id="6407732" type="General" weightage="20" keywordseo="INOX" source="Orion">INOX</keyword> is redefining its growth strategy by transitioning towards a capital-light growth model to reduce its capex on new screens addition by 25 to 30 per cent in the current fiscal. Now, PVR INOX will partner with developers to jointly invest in new screen capex by shifting towards a franchise-owned and company-operated (FOCO) model. It is also evaluating monetisation of owned real estate assets, as the leading film exhibitor aims to become "net-debt free" company in the foreseeable future. "This involves a potential monetisation of our non-core real estate assets in prime locations such as Mumbai, Pune, and Vadodara," said Managing Director Ajay Kumar Bijli and Executive Director Sanjeev Kumar addressing the shareholders of the company. In terms of growth, they said the focus is to speed up expansion in underrepresented markets. "Our company's medium to long-term strategy will involve expanding the number of screens in South India due to the region's high demand for films and comparatively low number of multiplexes in comparison to other regions. We estimate that approximately 40 per cent of our total screen additions will come from South India," they said. During the year, PVR INOX opened 130 new screens across 25 cinemas and also shut down 85 under-performing screens across 24 cinemas in line with its strategy of profitable growth. "This rationalisation is part of our ongoing efforts to optimise our portfolio. The number of closures seems high because we are doing it for the first time as a combined entity," said Bijli. PVR INOX's net debt in FY24 was at Rs 1,294 crore. The company had reduced its net debt by Rs 136.4 crore last fiscal, said CFO Gaurav Sharma. "Even though we are cutting down on capital expenditure, we are not compromising on growth and will open almost 110-120 screens in FY25. At the same time, not wavering from our goal of profitable growth, we will exit almost 60-70 screens that are non-performing and a drag on our profitability," he said. In FY24, PVR's revenue was at Rs 6,203.7 crore and it reported a loss of Rs 114.3 crore. This was the first full year of operations of the merged entity PVR INOX. Over the progress on merger integration, Bijli said "80-90 per cent of the targeted synergies was achieved in 2023-24" In FY24, PVR INOX had a 10 per cent growth in ticket prices and 11 per cent in F&amp;B spend per head, which was "higher-than-normal". This was primarily on account of merger synergies on the integration of PVR and INOX, said Sharma. "Going forward, the increase in ticket prices and food and beverage spending per head will be more in line with the long-term historical growth rates," he said. PVR INOX aims to restore pre-pandemic operating margins, enhancing return on capital, and driving free cash flow generation. "We aim to boost revenue by increasing footfalls through innovative customer acquisition and retention," said Sharma adding "We are also driving cost efficiencies by renegotiating rental contracts, closing under-performing screens, adopting a leaner organisational structure, and controlling overhead costs."

PVR INOX to close 70 non-performing screens in FY25, plan monetisation of real estate assets

<keyword id="19902194" type="General" weightage="20" keywordseo="Anil-Ambani" source="keywords">Anil Ambani</keyword>'s <keyword id="20479923" type="General" weightage="100" keywordseo="Reliance-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Group" meta.hostid="261" meta.entityid="Reliance Group">Reliance Group</keyword> has launched the <keyword id="24017314" type="General" weightage="20" keywordseo="Reliance-Group-Corporate-Centre" source="keywords">Reliance Group Corporate Centre</keyword> (RGCC) as part of its <keyword id="24017313" type="General" weightage="20" keywordseo="2030-growth-strategy" source="keywords">2030 growth strategy</keyword>. "The RGCC will serve as a strategic hub, providing guidance to the Group's companies as they pursue new opportunities and technological advancements," the firm said in a statement. The core team of RGCC will include experienced leaders of the Group -- Sateesh Seth, Punit Garg, and K Raja Gopal. Garg currently leads as CEO of <keyword id="20144587" type="General" weightage="20" keywordseo="Reliance-Infrastructure" source="keywords">Reliance Infrastructure</keyword>, while K Raja Gopal has been at the helm of Reliance Power for six years. He has over 27 years experience in the power sector. Other leaders from the Group companies will also be invited to the RGCC. "The establishment of RGCC aims to harness the in-house expertise of these seasoned leaders to support the Group's forward-looking growth initiatives and cultivate a new generation of leadership for future project," the statement said. The RGCC will play a pivotal role in mentoring and developing emerging leaders, blending experience with fresh talent to propel the Group towards sustained growth. A Reliance Group spokesperson highlighted, "We are thrilled to introduce RGCC, a team of seasoned professionals with a broad spectrum expertise. This strategic move aims to steer the Group's future growth by tapping into the vast experience of these leaders, will help navigate industry challenges and capitalise on new opportunities, drive innovation, and deliver exceptional value to our customers and stakeholders. We believe RGCC will be instrumental in shaping the next phase of our Group's success." In recent developments, Reliance Infrastructure Ltd and Reliance Power Ltd, key entities under the Reliance Group, have achieved zero bank debt status and outlined plans for expansion into new growth areas. Reliance Power has secured 1,270 MW of renewable power projects in Bhutan, while Reliance Infrastructure, through its subsidiary Reliance Defence Ltd, is setting up a manufacturing facility for small arms, ammunition, and explosives in Ratnagiri, Maharashtra, spanning 1,000 acres. "To support these ambitious expansion plans, the companies have announced a combined fundraising effort of Rs 17,600 crore. This includes Rs 4,500 crore via preferential equity issues, Rs 7,100 crore from Varde Partners through equity-linked long-term FCCBs, and Rs 6,000 crore via Qualified Institutional Placement (QIP), with Reliance Power and Reliance Infrastructure each targeting Rs 3,000 crore," it added.

Anil Ambani's Reliance Group sets up centre to helm 2030 growth strategy

<keyword id="20069374" type="General" weightage="20" keywordseo="IT-services" source="keywords">IT services</keyword> firm <keyword id="19924892" type="General" weightage="20" keywordseo="Tech-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Tech Mahindra" meta.hostid="261" meta.entityid="Tech Mahindra">Tech Mahindra</keyword> on Saturday reported a more than two-fold jump in its consolidated <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> to Rs 1,250 crore for the July-September quarter, driven by special income from the sale of assets. The Mahindra Group company posted a net profit of Rs 493.9 crore in the year-ago period, according to an exchange filing. Revenue rose by 3.49 per cent to Rs 13,313.2 crore in the second quarter of 2024-25 compared to Rs 12,863.9 crore in the same quarter of 2023-24. "Other income includes gain on sale of property of Rs 4,502 million which comprises of freehold land and its related buildings along with the furniture &amp; fixtures sold for a consideration of Rs 5,350 million, receivable over a period of four years along with interest of 8.2 per cent p.a," the company filing said. Sequentially, net profit rose by 46.81 per cent and revenue by 2.36 per cent. "We continue to progress on our strategic improvement efforts even as the overall IT services industry has remained soft. "We have focused on strengthening client relationships and expanding the partner ecosystem while maintaining a sharp focus on operational excellence through project Fortius, which has resulted in an expansion of margins for the third sequential quarter," Tech Mahindra CEO Mohit Joshi said. The CEO unveiled Project Fortius in April, a three-year plan to achieve a 15 per cent operating margin with a focus on organic growth. "This quarter we see consistent performance around increasing deal wins, <keyword id="19965932" type="General" weightage="20" keywordseo="revenue-growth" source="keywords">revenue growth</keyword>, cost optimisation and steady free cash flow generation as we continue our journey towards FY27 stated targets. In line with our capital allocation policy the board has declared an interim dividend of Rs 15 per share," Tech Mahindra CFO Rohit Anand said. The company's TCV (<keyword id="23580531" type="General" weightage="20" keywordseo="Total-Contract-Value" source="keywords">Total Contract Value</keyword>), or net new deal wins, stood at USD 603 million in the second quarter of FY25. Joshi further said the company is on the right path for a long-term sustainable transformation, with its leading indicators moving in the right direction, and its 'Scale at Speed' narrative resonating in the market. "We have invested in strengthening the capabilities in the focus service lines by broadening the leadership and investing in technical specializations. "We continue to invest in strengthening our fresher hiring program, building the right mindset and future skilling and associates, by building capabilities in AI-first and cloud-first skill sets," he told reporters. Investments shall continue in creating and sustaining an outcome-driven learning organisation and cultivating a high-performance culture based on the pillars of simplifying, clarifying, innovating and driving a high-performance orientation, he added. This year could be volatile because we are in the turnaround phase, Joshi said. "I am confident, however, that the platform is being set for a long-term, valuable franchise thanks to a high-calibre and united leadership team and a clearly articulated strategic plan," Joshi said. The Pune-headquartered firm added 6,653 employees during the quarter under review, bringing the total staff count to 1,54,273. Shares of Tech Mahindra settled at Rs 1,688 apiece on the BSE on Friday, down 0.68 per cent from the previous close. SEE ALSO:<a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms" target="_blank"></a> <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms" target="_blank">Best credit cards for online shopping this festive season</a><a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms" target="_blank">Waaree Energies IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms" target="_blank">Best smartphones under ₹25,000 in India in October 2024</a>

Tech Mahindra profit jumps over 2-times to ₹1,250 crore in Jul-Sep quarter

<ul class="summary-list"><li><keyword id="19935006" type="General" weightage="100" keywordseo="Guyana" source="keywords">Guyana</keyword>, the tiny South American nation, plans to give $500 to every citizen aged 18 and over.</li><li>Its president said the <keyword id="21044249" type="General" weightage="20" keywordseo="cash-payments" source="keywords">cash payments</keyword> aim to narrow disparities and help with higher living costs.</li></ul>The world's fastest-growing economy is giving the equivalent of $500 to each of its adult citizens as it works to share its newfound oil wealth and soften the sting of higher living costs. President <keyword id="21170274" type="General" weightage="20" keywordseo="Mohamed-Irfaan-Ali" source="keywords">Mohamed Irfaan Ali</keyword> of Guyana, the South American country with just 800,000 people, announced the move last week and said his government would begin distributing the cash immediately. He previously said each household would receive the Guyanese-dollar equivalent of $1,000, but switched to an individual payment after locals raised concerns about how a household would be defined and how the money would be shared within each home. "This is how we are promoting prosperity, ownership, distribution of wealth," Ali said. "This is how the resources and revenue of this country are being spent every single day to lift the lives of people, to expand national wealth, coastal wealth, and community wealth." Guyanese authorities have taken other steps to combat the rising cost of living, the post noted. They've removed more than 200 taxes and fees, including the excise tax on fuel and VAT on water, electricity, and some basic foods. They also gave a one-time, tax-free grant worth about $120 a person to a group that included teachers and public servants last year. Nicolas Suarez, a senior economist at S&amp;P Global Market Intelligence who covers Latin America, told Business Insider the original plan would "increase the average household's disposable income, alleviating some budget constraints." He estimated the initial program's scale at 1.5% of national GDP and 7.9% of Guyana's Natural Resource Fund, which officials set up in 2019 to prudently manage the country's oil revenues. The scale of the updated plan is less clear. World Health Organization data suggests there are about 711,000 Guyanese aged 15 and over, so if we assume the 18+ population is 660,000 people and all of them receive $500 each, the program could cost $330 million —not far off the government's estimate of $290 million for the original household payout. "In the short term, this measure could boost private consumption growth, but it may not ease <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword>ary pressures," Suarez said about the previous plan. "On the contrary, higher government expenditures could lead to significant inflationary pressures over the next 12 months." He noted that inflation in Guyana has climbed from a pre-pandemic average of 2.3% a year to 3.3% in August. He noted that <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/investing/what-is-inflation">inflation</a> in Guyana has climbed from a pre-pandemic average of 2.3% a year to 3.3% in August. <h2>Riding an oil wave</h2>Guyana, an English-speaking former colony that gained independence from Britain in 1966, borders Venezuela to the west, Brazil to the south, and Suriname to the east. Its natural resource fund is similar to <a target="_blank" class="" href="https://www.businessinsider.com/norway-sovereign-wealth-fund-to-dump-russian-assets-ukraine-invasion-2022-2">Norway's oil fund</a>, set up in the 1990s to invest profits from the Scandinavian nation's oil-and-gas sector, protect the economy from fluctuations in energy revenues, and serve as a financial reserve and long-term savings plan for Norwegians. Norway's gas-powered sovereign wealth fund has helped to make it one of the world's wealthiest countries with an estimated population of 5.5 million and a GDP per capita of about $88,000 last year, according to World Bank data. Its oil fund held over $1.7 trillion of assets at the end of June, or more than $300,000 per Norwegian citizen. <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/warren-buffett-chevron-hess-guyana-oil-economy-berkshire-hathaway-stock-2023-10">Exxon</a>, which has discovered an estimated <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/oil-market-outlook-opec-price-cuts-us-crude-production-guyana-2023-12">11 billion barrels of oil equivalent</a> off Guyana's coastsince 2015, forecasts the country will produce about 1.3 million barrels a day once the company's six projects are online in 2027. That amount rivals Qatar's current output and would rank Guyana among the world's 20 largest oil producers. Guyana ramped up production to more than 600,000 barrels a day earlier this year, fueling roughly 50% <a target="_blank" class="" href="https://www.businessinsider.com/oil-market-guyana-economy-crude-production-outlook-opec-price-cuts-2023-12">GDP growth</a> in the first half and putting Guyana on track to grow about 43% this year, Ali said in an August webcast. Real GDP soared by about 62% in 2022 then 33% in 2023, while GDP per capita has surged from $7,000 in 2020 to around $26,000 this year, International Monetary Fund data shows. <h2>Sharing the wealth</h2>Guyana's payment to its people "sounds like great news," Karl Widerquist, a philosophy professor at Georgetown University-Qatar and the author of several books about universal basic income (UBI) told BI. He described the one-time distribution as "basic capital" or a "stakeholder grant" instead of a basic income, but said "it's a big step in that direction if they go through with it." UBI typically refers to a recurring cash payment made to every individual in a society regardless of their wealth, with no restrictions on <a target="_blank" class="" href="https://www.businessinsider.com/how-people-spend-universal-basic-income-ubi-food-housing-transportation-2024-4">how the money is spent</a> and no requirement to pay it back. Proponents hail it as a safety net against poverty that relieves financial strain and frees people to change jobs, start businesses, and weather periods of bad luck without stressing about paying their bills. Guyana's one-off, unconditional cash grant is a "positive step," Cleo Goodman, the basic income lead at the Autonomy Institute think tank, told BI. "This is a welcome injection of cash for citizens." However, she noted a guaranteed, regular income would be a "much more comprehensive commitment to redistributing this newfound wealth." Guyana was colonized by the Netherlands before Britain gained control in the late 18th century. The nation, which shares borders with Venezuela, Brazil and Suriname, became independent in 1966. Correction: October 18, 2024 — An earlier version of this story mistakenly reported an outdated version of the policy. Guyana announced Wednesday it had decided to give the equivalent of $500 to every adult, rather than a higher amount to each household as previously planned. The story also misstated the value of the previously announced figure in US dollars. It was $1,000 a household, not $2,000.

This tiny country says it will give $500 to every adult as an Exxon oil boom supercharges its economy

<ul class="summary-list"><li>Reddit stock surged 42% Wednesday to trade at a record high after reporting a strong earnings beat.</li><li>Reddit's revenue jumped 68% from a year ago, partly helped by licensing deals with OpenAI and Google.</li></ul>Reddit stock soared 42% to close at an all-time high of $116.03 per share on Wednesday afternoon after the company reported a strong earnings beat.A few months ago, investors appeared wary of Reddit's ability to compete on AI. Now, the platform's AI licensing deals are helping fuel its biggest quarterly revenue growth in two years and driving its stock to new records. On Tuesday, the company reported net income of $29.9 million, flying past expectations of an $8.8 million loss. It marks just the third profitable quarter for the company.Reddit's revenue jumped 68% from a year ago to $348.4 million. Part of that huge jump comes from its strong suite of <a target="_blank" href="https://www.businessinsider.com/google-train-ai-model-crazy-subreddit-posts-reddit-licensing-deal-2024-2">licensing deals</a> with OpenAI and Google, which are reflected in the $33.2 million of "other revenue" for the third quarter.That revenue category grew 547% year over year and now accounts for over 9% of the company's overall revenue, up from less than 1% last year.The company's licensing deals allow AI giants to train their models on the platform, which has become an increasingly competitive landscape. CEO Steve Huffman previously said Reddit is well-positioned amid an intense <a target="_blank" href="https://www.businessinsider.com/reddit-ceo-platform-arms-race-ai-training-steve-huffman-2024-10">"arms race" for AI training</a>.The company is also innovating in AI via language translation, which it's piloting in French, Huffman said during the earnings call. The move has helped drive more users to the site, he said."This quarter, machine translation drove four times more users than last quarter, and based on the success we've seen so far, we plan to expand machine translation to over 30 countries through 2025," Huffman added.The company added over 24 million daily users in the first three quarters of the year, already surging past the 15.6 million added in total last year, which has provided a huge boost to its ad business, too. Advertising revenue is forecast to surpass $1 billion for the year for the first time.Analysts say the company's ad and AI innovation are reasons for continued optimism on the stock."Revenue beat street expectations by 11%, dispelling fears around user growth sustainability, while displaying improved monetization via ad product innovation and AI-driven enhancements," Deutsche Bank analysts said in a Wednesday note."Looking forward, Reddit is expected to re-launch its Search tool in the coming quarters, which given the success of competing Gen AI-driven search tools, could drive another lever in monetization growth," they added, raising their price target on the stock from $85 to $115.Analysts are now expecting $113 million in profits next year, up from previous consensus estimates of just $17.5 million, according to FactSet data.

Reddit skyrockets 42% on strong earnings beat and AI-driven growth

<ul class="summary-list"><li>Sometimes you can do tech reporting by talking to sources or scouring documents.</li><li>Other times you can do it just by watching TV.</li></ul>Ten years ago, Meta bought <a target="_blank" href="https://www.businessinsider.com/guides/tech/what-is-whatsapp-guide">WhatsApp</a> for some $21 billion. How's it going today?That's a reasonable question, but if you go looking for answers in <a target="_blank" href="https://investor.fb.com/home/default.aspx">Meta's financials</a>, you won't find many: The company blends WhatsApp's metrics with those from Instagram and Facebook, so there's very little specific data available. A few years ago, it announced that <a target="_blank" href="https://blog.whatsapp.com/two-billion-users-connecting-the-world-privately">WhatsApp had 2 billion users</a> around the world, and that's about it.On the other hand! You can learn quite a bit about WhatsApp simply by watching TV. That's where Meta has started running ads promoting the messaging platform, using the cast of "Modern Family," the long-running sitcom.This isn't the first time Meta has advertised WhatsApp on TV. A couple of years ago, it ran <a target="_blank" href="https://www.ispot.tv/ad/qPNX/whatsapp-doubt-delivered">spots</a> playing up WhatsApp's privacy advantages, focused on ideas like "<a target="_blank" href="https://www.ispot.tv/ad/25bs/whatsapp-a-new-era-of-privacy">end-to-end encryption</a>."But the current crop of spots is much, much more simple and direct: They tell you that WhatsApp is an app you can use to send messages. And that if some of your friends and family have iPhones and others use Androids, it will work really well without the <a target="_blank" href="https://www.npr.org/2024/03/28/1241443505/green-bubble-shaming-android-apple-iphone">dreaded</a> <a target="_blank" href="https://www.businessinsider.com/apple-iphone-doj-lawsuit-antitrust-green-bubble-samsung-stigma-2024-4#:~:text=On%20Apple's%20iPhones%2C%20instead%20of,A%20Thing%20in%20American%20culture.">blue/green bubble issues</a>.One version I've seen running on Hulu even included a QR code you could use to help download the app.Combine that messaging, along with the messengers — the cast of a broadcast TV sitcom that was very, very popular yet never discussed by people who use terms like <a target="_blank" href="https://en.wikipedia.org/wiki/Golden_Age_of_Television_(2000s%E2%80%93present)">Prestige TV</a> — and you can draw some pretty basic conclusions: While WhatsApp is very big outside the US, Meta thinks it has an opportunity find more users in America — especially those who live in <a target="_blank" href="https://en.wikipedia.org/wiki/Flyover_country">flyover country</a> instead of big coastal cities.I ran that thesis by Carl Woog, who runs comms for WhatsApp, and he … said I had it right: WhatsApp thinks middle America is a growth market. Particularly with older users.Woog said the ads, which started running last month, often around big national events like the NBA finals, are aimed at people who don't live in big cities like Miami, New York, and Seattle, where WhatsApp is strongest in the US.And he says that WhatsApp also does best with users under the age of 35 — which is why these ads are aimed at older would-be users, and why they employ the cast of a broadcast TV show that stopped running in 2020.Oh. And I did get one data point out of Woog: He says that WhatsApp's US year-over-year growth rate is running above 10%.So there you go: Sometimes it still pays to watch TV.

These new WhatsApp TV ads tell you a lot about the company's growth plans

<ul><li><keyword id="20940216" type="General" weightage="20" keywordseo="Synology" source="keywords" meta.keywordsubtype="org" meta.entityname="Synology" meta.hostid="261" meta.entityid="Synology">Synology</keyword> has showcased its upcoming enterprise solutions in India.</li><li>The Taiwanese <keyword id="20653112" type="General" weightage="20" keywordseo="storage-solutions" source="keywords">storage solutions</keyword> provider has revealed its enterprise-level solution blueprint for India.</li><li>The company has announced new GenAI-powered features for its Office Suite.</li></ul> Taiwanese storage solutions provider Synology has launched its new enterprise-level solution blueprint in India at its Synology Solution showcase held in India. The announcement comes as the first enterprise application blueprint in India and is a significant part of the company’s expansion plans in India. Since 2021, the company has recorded a 600% growth in business sector revenue in India, contributing to a total revenue growth of 350%. The company showcased its latest offerings in data protection, storage, and surveillance, emphasizing solutions designed to address the growing demands of modern enterprises. <h2>Synology showcases new products</h2>The company showcased its upcoming products, including the ActiveProtect appliances, which were first<a href="https://www.businessinsider.in/tech/news/synology-introduces-new-products-aimed-at-data-protection-and-scalability/articleshow/110711086.cms"> announced</a> during the company’s Synology Solution Exhibition 2024. The ActiveProtect lineup includes dedicated backup systems that are optimised for rapid deployment and scalability. This backup solution is aimed at simplifying deployment and it can manage up to 2,500 multi-server environments across multiple sites. <div type="Article" hostid="261" msid="111748677" title="Synology bets big on the Indian market amid strong growth, growing demand" mstype="2" mssubtype="0"></div> “The ActiveProtect series focuses on data recovery and immutability, making it a reliable tool for IT professionals to ensure data security. Its multi-site friendly design aligns perfectly with India's business structure,” said Russell Chen, country manager, SAARC Region, Synology. The company also showcased its scale-out storage solutions and advanced surveillance solutions at the event. “Driven by the demand of technology trends, such as AI, IoT, digital transformation, and so on, Synology has performed exceptionally well in the Indian enterprise market, especially in sectors like government, manufacturing, and media and entertainment. Moving forward, we will continue to dedicate ourselves to meeting the modern storage needs of growing enterprises,” said Michael Chang, APAC sales head, Synology. The developing scale-out solution delivers scale-out storage, supporting both file and object storage and performance growth when adding additional storage servers. Synology also introduced its C2 Surveillance Station, which is a cloud-based video surveillance solution with edge AI and multi-layer encryption. The company is enhancing its <keyword id="19999884" type="General" weightage="20" keywordseo="AI-capabilities" source="keywords">AI capabilities</keyword> with the Synology AI Console, integrating GenAI into the Office Suite. According to the company, this will allow organisations to use the latest large language models (LLMs) while maintaining strict control over data privacy and security. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/diwali-gift-zomato-platform-fee-increased-to-rs-10-ahead-of-the-festive-season/articleshow/114493617.cms">Diwali gift from Zomato – Platform fee increased to ₹10 ahead of the festive season</a> <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/snapdragon-8-elite-announced-to-power-iqoo-13-oneplus-13-xiaomi-15-series-and-more/articleshow/114463844.cms">Snapdragon 8 Elite announced, to power iQOO 13, OnePlus 13, Xiaomi 15 series and more</a>

Synology introduces new enterprise solutions, reports significant growth in India

<ul class="summary-list"><li>Apollo Global Management has been investing big in non-bank loans.</li><li>Helping fund that growth has been growing demand for retirement products, said CEO Marc Rowan.</li></ul>There's been a lot of attention on Apollo Global Management's <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.businessinsider.com/apollo-ceo-marc-rowan-defends-private-credit-from-jamie-dimon-2024-5">burgeoning lending business</a>, which the firm projects will double in size to <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.businessinsider.com/apollo-global-management-investor-day-presentation-one-trillion-private-lending-2024-10">$1.2 trillion in five years</a>.Helping to fund those loans is Apollo's retirement business, which <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.businessinsider.com/apollo-ceo-marc-rowan-management-tactics-430-am-wakeup-call-2024-10">Apollo CEO and cofounder Marc Rowan</a> sees as the investment firm's "single biggest opportunity" for future growth.In a conference call to discuss third-quarter earnings, Rowan said Apollo's insurance affiliate Athene had become an industry leader in annuities, or insurance products used in retirement, to generate regular income. Athene saw $20 billion in inflows during the third quarter and $77 billion over the last year, which helped drive a 16% year-over-year growth in assets under management to $733 billion.<div type="image" title="Apollo chart showing capital inflows." height="884" width="1597" msid="114993225" hostid="261" sizebytes="75180"></div>Rowan said he sees continued growth in that sector, aided by the company's efforts to provide new and improved retirement products, including tools to guarantee income for life."The notion of simplification and getting to guaranteed lifetime income, I believe, to be the North Star for where we would like to go," Rowan said on the call. "But this notion of rethinking the product set, I believe to be the single biggest opportunity in front of us, and that is what is baked into our five-year plan over the next few years."The opportunity stands to become even bigger, Rowan said, if regulators open up 401(k)s and other tax-deferred retirement accounts to investments led by alternative asset managers like Apollo."Should we get access to 401(k) through broad-based reform or regulatory change or regulatory encouragement, I believe that would be upside not just for us, but for the entire industry," he said.Rowan has been a major proponent of Australia's retirement model, which was opened up to private assets around forty years ago in a <a target="_blank" href="https://www.businessinsider.com/how-make-us-retirement-system-better-australia-superannuation-benefits-2024-4">process called superannuation</a>. Rowan said that plans with private assets, which can access the compounding effects of private equity, have 40% to 60% better outcomes than those just with public assets."I do envision a day when we will be talking about 60-40 portfolios that are comprised of public and private," Rowan said.This would be a huge shift from the current regime, where much of American retirement savings are in the public stocks or bonds. But to Rowan, a retirement system where between $12 trillion to $13 trillion of American's wealth is in 401(k)s that are largely invested in the <a target="_blank" href="https://www.businessinsider.com/stock-market-whiplash-shows-dont-worry-too-much-about-401k-2024-8">S&amp;P 500 </a>makes little sense."I jokingly say sometimes, we levered the entire retirement of America to <a target="_blank" href="https://www.businessinsider.com/nvidia-stock-price-blackwell-ai-market-value-costco-jensen-huang-2024-10">Nvidia's performance</a>," Rowan said last month. "It just doesn't seem smart."The Trump Administration opened some 401(k) investing to private equity <a target="_blank" href="https://www.bloomberg.com/news/articles/2020-06-03/private-equity-firms-get-trump-administration-s-nod-to-tap-401ks">in 2020</a>, suggesting that a Trump victory could help fuel the alternative industry's expansion efforts. Rowan hasn't endorsed a US presidential candidate.

Your nest egg is private-equity giant Apollo's 'single biggest opportunity' for growth

Billionaire <keyword id="19929098" type="General" weightage="20" keywordseo="gautam-adani" source="keywords">Gautam Adani</keyword>'s group will supply <keyword id="19914923" type="General" weightage="20" keywordseo="clean-energy" source="keywords">clean energy</keyword> to power Google's cloud services and operations in India, the two firms said on Thursday. <keyword id="19955648" type="General" weightage="100" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani group</keyword> will supply 61.4 megawatt of electricity from a new <keyword id="21342349" type="General" weightage="20" keywordseo="solar-wind-hybrid-project" source="keywords">solar-wind hybrid project</keyword> located at its 30 gigawatt (GW) Khavda renewable energy park in Gujarat. Google powers most of its cloud operations and services through electricity procured from the grid and is planning to run the entire operations on clean energy by 2030. Adani is expected to start commercial operations in the third quarter of 2025. At the '<keyword id="23413952" type="General" weightage="20" keywordseo="Google-for-India" source="keywords">Google for India</keyword>' event, the search giant also announced a partnership with CleanMax for sourcing 125.4 MW of clean energy to power its offices and cloud regions in India. Of the contracted volumes, 66 MW solar energy will come from Rajasthan and 59.4 MW wind energy from Karantaka. "These projects are expected to start commercial operations in Q4 2025 and will deliver <keyword id="22243112" type="General" weightage="20" keywordseo="carbon-free-energy" source="keywords">carbon-free energy</keyword> to the grid where Google operates offices and cloud regions in India," Google said. While Google made the announcement at the 'Google for India' event here, the Adani Group gave details in a statement. "Through this partnership Adani will supply clean energy from a new solar-wind hybrid project located in the world's largest renewable energy plant at Khavda, Gujarat. This new project is expected to start commercial operations in the third quarter of 2025," the Adani group statement said. This innovative collaboration will help advance Google's 24/7 carbon-free energy goal by ensuring cloud services and operations in India are supported by clean energy and thereby contribute to the <keyword id="20289318" type="General" weightage="20" keywordseo="sustainable-growth" source="keywords">sustainable growth</keyword> of Google in India. Adani had previously announced plans to set up data centres run on clean energy. It had in October 2022 leased 4.64 lakh square feet of space at its data centre in Noida to Raiden Infotech, an entity of Google.

Adani to supply clean energy for Google's cloud operations in India

<ul class="summary-list"><li>Burberry's CEO Joshua Schulman says the brand is undergoing an urgent "course correct."</li><li>The strategy aim comes as the luxury brand reports revenue plummeted 22% in its interim results. </li></ul>Things have gone from bad to worse at <a target="_blank" class="" href="https://www.businessinsider.com/how-burberry-became-fashions-biggest-fail-stock-drop-ceo-ousting-2024-8">Burberry</a>, the beleaguered British <a target="_blank" class="" href="https://www.businessinsider.com/most-valuable-luxury-brands-2011-5">luxury brand</a>.On Thursday, the company's CEO said he is "acting with urgency" to stabilize the luxury brand as it reported a 22% revenue decline in the six months ending in September in interim results. CEO Joshua Schulman said the company is implementing a "course correct" strategy to address its long-standing woes and "position Burberry for a return to sustainable, profitable growth.'"Dubbing the strategic shift "Burberry Forward," the market has responded positively, with shares rising 14% in early trading on Thursday.Schulman said the company's underperformance stems from its "inconsistent brand execution" and a "lack of focus" on its outerwear category and core customers.The report also indicated the brand's attempt to modernize came at the expense of its heritage and identity and suggested that it has priced out many customers in its bid to pursue "brand elevation." "They pushed the pricing where the brand didn't feel legitimate," Jelena Sokolova, a senior equity analyst at Morningstar, previously told BI. "I've heard from some people, with a $2,500 bag, you might as well just go for Louis Vuitton, you wouldn't buy Burberry."<div type="image" title="Cara Delevingne at Burberry Flagship Store Reopening Cocktail Party - Inside on October 16, 2024 in New York." height="853" width="1280" msid="115296336" hostid="261" sizebytes="72366"></div>Part of Burberry's new strategy to right the ship includes the appointment of new leaders across its marketing and product teams and the launch of new campaigns that show the brand is going back to its roots.These include the "It's Always Burberry Weather" outerwear campaign starring British and Irish celebrities like <a target="_blank" class="" href="https://www.businessinsider.com/barry-keoghan-saltburn-shocking-scenes-freak-child-man-2024-1">Barry Keoghan</a> and longtime ambassador <a target="_blank" class="" href="https://www.businessinsider.com/cara-delevingne-most-daring-red-carpet-looks-photos">Cara Delevigne</a>.Many brands are hurting from an industry-wide slump in luxury, fueled partly by <a target="_blank" class="" href="https://www.businessinsider.com/whats-behind-china-luxury-goods-slowdown-economy-changing-consumer-tastes-2024-10">waning demand in China</a>, but Burberry has been one of the hardest hit. In July, after reports emerged that the brand planned to cut hundreds of jobs, it then reported a decline in sales and said it would suspend its dividend payments to shareholders. Shortly after, the company announced it was ousting its CEO, Jonathan Akeroyd.Earlier this month, rumors swirled that the brand was facing an acquisition from Moncler. However, this has since been denied.

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