Good morning. Are you ready to conquer your day and stay ahead of other carbon-based lifeforms? Well, a good start would be to keep yourself posted on the latest Indian business, tech, and startup news — brought to you by Earlybird.

In this edition:

• 🏍️ Delhi authorities scold Uber & Ola (who are kind of frenemies now)

• 🍟 McDonald’s India to hire 1500+ by 2025

• 📦️ Amazon’s new employee perk toward housing

MARKETS

*Stock data as of market close. Source.

• Markets: After 8 consecutive days of decline, the Nifty has finally found a breather with a 17,600 target in sight, according to technical analysts. However, investors should keep their wits about them and hold a steady eye on crucial market movements.

TRANSPORTATION

Uber & Ola receive warning over bike taxis

🏍️ Delhi's transport department has issued a warning to ride-hailing giants Uber and Ola for reportedly violating an anti-bike taxi directive posted by the city. The department has stated that bike taxis are illegal under the current law, and the companies could face penalties if they continue to operate them.

Uber and Ola have yet to comment on the alleged violation. Although, currently, bike taxis are still listed in their booking apps.

🧩 A Challenging Environment. India's regulatory environment has been challenging for ride-hailing companies, with many facing roadblocks from local authorities. In recent years, the government has introduced new rules and regulations that have impacted the industry, including a cap on surge pricing and restrictions on the number of vehicles that can be registered.

🗺️ The route forward. Despite these challenges, Uber and Ola have continued to expand their services in India. The companies will now need to work with the Delhi authorities to find a solution that meets regulatory requirements and satisfies the needs of their customers.

FOOD

McDonald’s India to hire 1500+ by 2025

🍔 McDonald's India North East, a subsidiary of the fast-food giant, is looking to hire 1,500 employees from NGOs in the region by 2025. The move is part of the company's commitment to providing employment opportunities and promoting economic growth in the area.

🔭 Scope. The hiring will be done across all functions of the restaurant, including management, customer service, and kitchen staff.

🚰 Which wells to tap. McDonald's India North East has hired roughly 500 hands via organizations such as Magic Bus, Tech Mahindra Foundation in the past. It remains to be seen whether this list will be expanded to other recruitment means to hit their mark.

BUSINESS

Tata’s latest obsession with… bottled water

💧Talks between Tata Group and bottled water giant Bisleri International over a potential $1 billion stake purchase have stalled, as the two sides struggle to agree on valuation

Is it a full stop ahead? Sources posit that the deal could still push through pending further discussions around the purchase and other factors related to controlling power. However, competing offers could still arise and pull the opportunity from under Tata’s feet if the standstill draws out for too long.

Current trajectories

• While talks between Tata and Bisleri have hit a roadblock, both sides may be motivated to find a way to make a deal work.

• Tata Group has been on an acquisition spree in recent years, talking terms with major brands such as BigBasket and Justdial, and is eager to expand its dominance in India's lucrative consumer goods market.

• Meanwhile, Bisleri is looking to raise funds to fuel its expansion plans, which include ramping up production capacity and investing in new products.

INDIA EDITION: WHAT ELSE IS ON THE BIRDWATCH

• 🏦 Axis Bank seals Citibank absorption. Axis Bank has successfully completed its acquisition of Citibank's India consumer business, cementing its position as a major player in the Indian banking sector

• 🤝 Cashfree acquires one-click checkout master Zecpe. In a major power move, SBI-backed fintech firm Cashfree Payments has acquired Zecpe, a one-click checkout platform that makes online purchases easier than having to click twice or more.

• 🍷’Disposable cutlery’ in business class. Indian diplomat Dr KJ Srinivasa took to Twitter to call out Air India's business class lounge at a US airport, tagging Ratan Tata in the process, and sparking some heated commentary about the quality of the airline’s facilities.

FUNDING DEALS

Catch up on the Indian funding flows from the past 24hrs:

• 🦷 Perfora, an Indian oral care startup, has successfully raised $2.5M in funding led by RPSG Capital, proving that they have the bite to sink their teeth into the fiercely competitive dental industry.

• 💅O’2 Nails, an Indian nail care startup, just nailed their seed round, raising a cool $150K to polish up their mission of giving everyone a manicure that's a cut above the rest.

WORLD

Headline Explorer

📦️Amazon’s new worker perk toward housing. Amazon is tickling the real estate industry with its latest employee perk — allowing workers to use their stock to finance property purchases and even second homes

💵 Saudi making it rain on tech. In a move to diversify their economy and attract world-class talent, Saudi Arabia is ramping up its investments in high-tech industries such as AI, robotics, and digital entrepreneurship. Why we believe them? ‘Cause of the whopping $2.4B dollar allotment across nine funds announced earlier this month.

🥠 Manufacturing in China rebounds. China's Purchasing Managers' Index (PMI) rebounded in February, signaling a return to growth as the country continues to emerge from pandemic-related disruptions. Concerns still linger over inflation and the property bubble though, so stay tuned.

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