Tech
Google to support startups in Pakistan that raised $350 mn in 2021

Startups in Pakistan raised $350 million in funding in 2021, a tiny amount when compared to the Indian startup ecosystem but five times the amount they raised in 2020, according to Google.
The tech giant said that it will nurture this next wave of tech startup founders with the ‘Google for Startups Accelerator’ (South East Asia and Pakistan), particularly those that are focused on e-commerce, finance, healthcare, SME-focused B2B solutions, education, agriculture and logistics.
“We’re looking for 10 to 15 startups based in Indonesia, Malaysia, Pakistan, Philippines, Singapore, Thailand or Vietnam, that are in the seed or Series A stage,” Google said in a statement late on Friday.
The accelerator will support these startups by providing Google mentors, a network of new contacts to help them on their journeys, and the most cutting edge technology.
Interested startups are encouraged to apply by October 7.
Pakistan has more than 3,700 startups, like DealCart, Dbank, Tag, Bazaar, and Jugnu, among others.
In the past few years, startups throughout Southeast Asia and Pakistan have been steadily growing and taking on the regions’ most pressing challenges.
From agriculture to healthcare, these startups are building digital solutions to tackle their area of focus.
In South East Asia alone, 80 million new users have come online since March 2020, boosting activity for startups developing digital products and services across a variety of industries.
“We’ve seen that growth as venture funding reached new heights in both Southeast Asia and Pakistan,” Google said.
One explanation for this acceleration is that Pakistan and Southeast Asia both have a thriving youth population.
More than half of the population of Southeast Asia is under 30 years old. In Pakistan too, the median age is only 22.
“These young people tend to be tech-savvy, have an interest in entrepreneurship, and are more in tune with global trends,” said the company.
Government-driven initiatives like Thailand 4.0, Indonesia’s 1,000 startups, Singapore’s Startup SG Founders, as well as Pakistan’s Prime Minister’s Youth Programme, will continue to help aspiring founders get their startups off the ground.
Business
Sensex, Nifty trade in green amid positive global cues

Mumbai, May 2: The Indian stock indices opened in the green on Friday following positive cues from the global markets.
At 9:22 am, Sensex was up 350 points or 0.44 per cent at 80,592 and Nifty was up 71 points or 0.29 per cent at 24,407.
Midcap and smallcap indices were trading flat compared to largecap. Nifty midcap 100 index was up 40 points or 0.08 per cent at 54,185. Nifty smallcap 100 index was down 12 points at 16,436.
Among the sectoral indices, auto, PSU bank, private bank, financial services, metal and realty were major gainers. Pharma, FMCG and media were major laggards.
According to analysts, on the technical front, Nifty 50 continues to consolidate in a narrow range, forming a neutral candlestick pattern. On the hourly chart, a flag and pole pattern are developing, suggesting a possible bullish breakout.”
“If Nifty sustains above 24,400, it can potentially head towards 24,500 and 24,700 levels. Immediate support levels are placed at 24,200, 24,100, and 24,000, offering dip-buying opportunities,” said Mandar Bhojane from Choice Broking.
In the Sensex pack, Adani Ports, Maruti Suzuki, IndusInd Bank, Axis Bank, ICICI Bank, M&M, Tata Motors, TCS, Infosys, HDFC Bank, NTPC and SBI were top gainers. Nestle, Titan, Bajaj Finserv, HUL, Power Grid and Bajaj Finance were the top losers.
The international markets were trading with gains. Tokyo, Hong Kong, Seoul, Jakarta and Bangkok were in the green.
The US market also closed with gains on Thursday. In the last session, the technology index Nasdaq surged more than 1.5 per cent.
Meanwhile, Brent crude was at $ 62.62 per barrel with a gain of about one per cent.
On the institutional front, FIIs continued their buying streak for the 11th consecutive session, albeit with a modest net buy figure of Rs 50 crore.
Meanwhile, DIIs showed stronger conviction, purchasing equities worth Rs 1,792 crore. The combined flow suggests a supportive undertone for the Indian equities.
Devarsh Vakil, Head of Prime Research at HDFC Securities, said that overall trend for the Nifty remains bullish, as it continues to trade above all key moving averages.
Business
Adani Enterprises’ net profit surges 7.5x to Rs 3,845 crore in Q4, incubating businesses shine

Ahmedabad, May 1: Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, on Thursday announced robust financial results, with net profit surging 7.5 times to Rs 3,845 crore in Q4 FY25 compared to Rs 449 crore in the same period in FY24.
AEL recognised an exceptional gain of Rs 3,946 crore after Adani Wilmar Ltd’s 13.5 per cent stake sale in the January-March quarter (Q4).
For the entire fiscal (FY25), revenue increased by 2 per cent to Rs 1,00,365 crore and consolidated profit before tax (PBT) up by 16 per cent to Rs 6,533 crore.
EBITDA increased by 26 per cent to Rs 16,722 crore last fiscal, driven by continued strong operational performance from incubating businesses, the company said in a statement.
“At Adani Enterprises, we are building businesses that will define the way forward for India’s infrastructure and energy sector,” said Gautam Adani, Chairman of the Adani Group.
“Our robust performance in FY25 is a direct outcome of our strengths in scale, speed and sustainability. Impressive growth across our incubating businesses reflects the power of disciplined execution, future-focused investments and a commitment to operational excellence, innovation and sustainability,” said the billionaire industrialist.
In Q4 FY25, Adani New Industries Limited (ANIL) started further expansion of solar cell and module lines for an additional capacity of 6 GW with financial closure secured.
In solar manufacturing, module sales increased by 59 per cent (year-on-year) basis to 4,263 MW with higher EBITDA margins on account of improved realisation and operational efficiency.
In Q4 FY25, ANIL wind business completed capacity expansion to 2.25 GW with mix of 5.2 MW, 3.3 MW and 3.0 MW wind turbine generator (WTG) models, the company informed.
AdaniConnex also completed construction of Noida data centre and made operational with initial capacity of 10 MW. In mining services, Parsa coal block commenced operations and successfully made the first customer delivery.
AEL said it has not only delivered robust operational and financial performance but also has remained focused on the timely completion of large infrastructure projects, capacity extension and asset utilisation of its businesses.
“As we scale up in energy transition, airports, data centres and mining services, we are creating new market leaders that will drive India’s growth story for decades to come. Each success across our incubation spectrum accelerates our mission to create long-term value and catalyses India’s emergence as a global economic powerhouse,” said Gautam Adani.
Business
15th Rozgar Mela: EPFO hands over job letters to 976 new recruits

New Delhi, April 26: The Employees’ Provident Fund Organisation (EPFO) on Saturday handed over appointment letters to 976 new recruits as part of the 15th edition of the Rozgar Mela.
The Rozgar Mela was held across 47 locations nationwide. The event, addressed by Prime Minister Narendra Modi via videoconferencing, saw the distribution of over 51,000 appointment letters to newly inducted youth in various government departments, including EPFO.
“As part of this significant recruitment drive, EPFO welcomes new recruits to strengthen its workforce, ensuring efficient delivery of social security services to millions of subscribers across India,” said the Labour Ministry.
Appointment letters to 345 Accounts Officers/Enforcement Officers and 631 Social Security Assistants were issued as part of the drive.
The newly-appointed personnel will contribute to EPFO’s mission of providing provident fund, pension, and insurance benefits, supporting the government’s vision of a robust and inclusive economy.
EPFO has established recruitment vertical in head office to ensure regular recruitments and developed a recruitment calendar complying with directions of Union Minister of Labour and Employment, Dr Mansukh Mandaviya.
“During last one year, EPFO has recruited 159 Assistant Provident Fund Commissioners, 84 Junior Translation Officers, 28 Stenographers, 2674 SSAs among others. Further recruitment of APFCs, EO/AO, PAs and ASOs are underway,” according to the ministry.
The Rozgar Mela aligns with the Prime Minister’s commitment to prioritizing employment generation and empowering youth for nation-building.
EPFO’s participation underscores its dedication to transparent and merit-based recruitment, leveraging modernized processes to enhance service delivery. The new recruits will have access to training through the iGOT Karmayogi platform, besides formal training enabling them to upskill and excel in their roles.
EPFO said it extends its congratulations to all appointees and reaffirms its resolve to foster a future-ready workforce that drives India’s social security framework towards greater heights.
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