The authorities now support 100,000 startups and 113 unicorn companies (firms whose capitalisation has exceeded US$1 billion in a short period of time) established in the country. This is reported by ANI, a partner of TV BRICS. The startups are often related to innovative sectors such as financial technology, e-commerce, education technology and artificial intelligence. Earlier, India’s Minister of State for North Eastern Development Jitendra Singh highlighted Narendra Modi’s role in strengthening the country’s position in the economic arena. He…

  Several energy companies are recruiting former Eskom executives allegedly to gain an unfair competitive edge, benefit from insider trading, and position themselves for billions of tenders at the power utility.  According to insiders and industry sources, the growing trend raises questions about an alleged revolving door phenomenon involving former Eskom bosses, the power utility’s failure to enforce the government’s restraint of trade policy, and threatens the credibility of the state-owned company’s procurement processes.  Former Eskom Group CEO Brian Dames,…

The number of industries interested in investing in Rio increased by 33% in 2023. The number of industrial companies interested in opening or expanding their business in the state of Rio de Janeiro increased by 33% last year compared to 2022. According to the Rio de Janeiro State Industrial Development Company (Codin), 123 firms have had their applications for tax incentives approved during this period. “The state of Rio de Janeiro is becoming increasingly attractive for business. It is proved…

India’s nominal GDP growth will rise by 11.6 per cent this year up from 9.2 per cent in 2023, making the country’s nominal GDP growth the highest in Asia for the third consecutive year, a report by a major financial conglomerate said. This is reported by IANS, a partner of TV BRICS. India’s contribution to Asian and global growth will rise by 30 per cent and 17 per cent, respectively, up from 28 per cent and 16 per cent in…

Abdul Khalifa, 62, owns a large herd of camels in Kenya’s North Eastern Province.  Based in the rural outskirts of Garissa, a town located 367 km northeast of the nation’s capital Nairobi, a five-and-a-half-hour bus ride, Khalifa has been breeding camels for more years than he can remember.  Most of the land in the area is communal land, meaning it is wholly owned or shared by the community. Khalifa’s almost 600 camels make him one of the wealthiest herders in…

The volume of trade between Russia and India will reach a record high this year. This statement was made by Dmitry Volvach, Deputy Minister of Economic Development of the Russian Federation, during the India-Russia business dialogue. “It is safe to say that this year we will renew our historical record of mutual trade,” the Russian representative said. According to Volvach, trade volume exceeded 3.9 trillion roubles (over $40 billion) in the first three quarters of this year. He noted that…

With gross domestic product (GDP) growth of 3.1 per cent this year, Brazil is expected to rise two places to become the world’s ninth largest economy in 2023. This was announced by the International Monetary Fund (IMF) on Tuesday, 19 December. According to the fund, the country should end the year with a nominal GDP of $2.13 trillion. This is reported by Toda Palavra, partner of TV BRICS. Last year, Brazil ranked 11th. According to IMF forecasts, by 2026 Brazil…

Top South African poultry producer Daybreak Farms has announced the appointment of Richard Manzini as its new chief executive officer (CEO). Manzini, a well-established business strategist, will guide the company through the current challenges in the poultry market. He assumes control of the company, owned by the Public Investment Corporation (PIC), after a market disruption in South Africa caused a significant increase in egg prices around September and October 2023. The avian influenza outbreak caused an increase in egg prices…

As a boy growing up in Durban, the largest seaport city in South Africa, Kashveer Raghunath is no stranger to port terminals. But when he walked into the Hairun Container Terminal located in berths 4-6 of the Haicang section of the Xiamen Port, what he saw was totally different from that in his hometown.  On 14 November, Raghunath visited the Xiamen Port to experience the smart production, modern facilities and international services of the terminal, along with 16 other young…

The empowerment of black women reached a new milestone when the financial director of a prestigious advertising agency obtained a 21% stake in the company. As a result, the agency said that black female ownership at Ebony+Ivory Integrated Advertising Agency now stands at 51%. Thembi Sizani, who currently serves as the Financial Director at Ebony+Ivory, joined the agency in 2018, and over time, she has become a significant shareholder, owning 21%. A family trust retains the remaining share.  Ebony+Ivory is…