Good Morning Folks!!! Which country holds the title for the most public holidays annually? Known for its vibrant culture and festive spirit, this nation situated at the heart of the Indian subcontinent celebrates over 35 holidays every year. It's most renowned for its practice of worshiping young girls as goddesses or “kumaris” Can you master today's trivia ? Stay tuned till the end of the newsletter to find out.

QUICK COMMERCE
Amazon Eyes Instamart Acquisition from Swiggy Amid IPO Plans

One Liner: Amazon India explores acquiring Instamart from Swiggy ahead of Swiggy's upcoming IPO, signaling strategic expansion in quick commerce.

Amazon India is reportedly in discussions with Swiggy to acquire or invest in Instamart, Swiggy's quick commerce arm, ahead of Swiggy's IPO. The deal could involve a stake in a pre-IPO placement or a complete buyout, though hurdles remain. Amazon's interest in Instamart aligns with its strategic focus on quick commerce, despite challenges posed by the deal's complexity and valuation concerns. This move underscores Amazon's aggressive pursuit to bolster its presence in India's rapidly evolving e-commerce landscape.

INTELLECTUAL PROPERTY
Delhi High Court Awards Rs 14 Lakh to Adidas in Trademark Victory

One Liner: Delhi High Court grants Adidas AG Rs 14.22 lakh in damages in a landmark trademark infringement case.

In a significant legal victory, the Delhi High Court recently sided with Adidas AG in a trademark infringement case, awarding Rs 14.22 lakh in damages. The case involved an Indian company selling goods branded as 'ADIDAS', claiming it represented familial devotion. However, the court determined their use of the identical mark infringed upon Adidas AG's trademark, highlighting the potential for consumer confusion due to similar product lines. The ruling underscored the unique and highly distinctive nature of Adidas' brand name, affirming its robust trademark protection. This verdict marks a resounding win for Adidas AG after a lengthy legal battle spanning over 13 years.

BUDGET
India to Establish E-commerce Export Hubs for MSMEs

One Liner: Union Budget 2024 unveils plans for e-commerce export hubs to enhance MSME exports and infrastructure across India.

Finance Minister Nirmala Sitharaman announced in the Union Budget 2024 the creation of e-commerce export hubs to bolster MSME exports towards a USD 2 trillion target by 2030. These hubs, under a unified regulatory and logistics framework, aim to streamline trade services. Additional measures include expanding SIDBI's presence in major MSME clusters and developing industrial parks across 100 cities to enhance infrastructure and support growth. This initiative underscores a strong commitment to propel MSMEs into global competitiveness.

WORLD

India is considering lifting restrictions on some Chinese firms to improve bilateral economic relations. This potential shift comes as New Delhi seeks to balance security concerns with economic interests, particularly in the context of fostering growth in domestic manufacturing and technology sectors. India had previously imposed stringent regulations on Chinese investments following border tensions in 2020, affecting numerous sectors, including technology and infrastructure.

Tesla shares fall after second-quarter earnings miss following weaker-than-expected second-quarter earnings. The company reported an adjusted profit of 71 cents per share on revenue of $25.17 billion, missing analysts' expectations. Although revenue grew 3% from the previous year, price cuts impacted the average selling price of Tesla vehicles. Additionally, Tesla's operating margin decreased to 8.2%, compared to 16% in the same quarter last year, due to intensified competition from Chinese electric vehicle manufacturers. The company anticipates slower vehicle volume growth in 2024, contributing to investor concerns about its financial performance.

King Charles III is set to receive a significant pay increase due to record profits from the Crown Estate, which surged to £1.1 billion ($1.4 billion) this year, largely driven by offshore wind farm revenues. The profits will raise the sovereign grant, increasing the royal family's funding by £45 million ($60 million) While these funds support the monarchy's official duties and projects, like the renovation of Buckingham Palace, they also highlight ongoing debates about the financial transparency and funding of the British monarchy amidst economic challenges.

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Riddle

I have a spacious belly yet never full with grain. I have a cold heart, but feel no pain.I have shelves but hold no books and hide your loot in my roots.

ANSWER TIME!!

Answer(Trivia): Nepal

Answer(Riddle): Fridge