Prosus delays Indian payments firm PayU IPO to enhance business operations
Dutch technology
investor Prosus
is not planning to list Indian digital payments and lending firm PayU this year, with the focus on improving the
business
over the next six to 12 months, its
chief financial officer
said on Monday.
While Prosus hoped to list PayU by 2025, "that is not going to be our focus in the next year. Our focus is actually going to be to improve that business," Nico Marais, Prosus's chief financial officer told Reuters.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Join new Free to Play WWII MMO War Thunder
War Thunder
Play Now
Undo
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
14 minutes ago
- Time of India
Watch: Rishi Sunak explains how following Dharma helped him become first Hindu UK PM
In a rare joint address that felt more like a fireside conversation than a commencement speech, former UK Prime Minister Rishi Sunak and his wife, investor-philanthropist Akshata Murthy, took the stage at Stanford's Graduate School of Business (GSB) to reflect on leadership, life, and the Eastern values that have guided them through power, politics, and parenthood. But it was one ancient Sanskrit word— Dharma —that became the philosophical cornerstone of their address to the Class of 2025. 'It's a concept known in Sanskrit as Dharma,' Sunak explained. 'The idea that we should gain our fulfilment from simply doing our personal duty, rather than from any rewards that may come with our efforts.' It was not just an abstract idea. Sunak revealed that Dharma was the principle that guided his decision to step into the chaos of British politics in 2022—after losing the Conservative Party leadership race, only to return weeks later as Prime Minister following Liz Truss's resignation and a market meltdown. 'At that point,' Sunak recalled, 'a purely ambitious politician would have sat out the impossible situation. But Akshata reminded me: my Dharma was clear.' That invocation of duty over ambition—a far cry from the usual Machiavellian fare of Westminster—drew warm applause from the GSB audience. For a school known for producing Silicon Valley unicorns and global CEOs, the speech was a gentle, unexpected reorientation: success isn't just about spreadsheets, scalability, and shareholder value. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar Undo Sometimes, it's about doing the right thing, even when it costs you. A Love Story in the Schwab Courtyard The speech was also deeply personal. Akshata and Rishi, both graduates of Stanford GSB's Class of 2006, met during their time on campus. 'This is literally where we met,' Murthy told the audience. 'In the Schwab courtyard, to be precise.' Their anecdotes—him in 'seriously uncool' cargo shorts, her dragging him along on runs—were a charming counterpoint to their more weighty themes. But even those early conversations, they said, were seeded with discussions about leadership, values, and Dharma. 'We started talking about this idea without knowing it,' Murthy said. 'At Arbuckle Café over breakfast… and whether 11am was too early for some ice cream for Rishi.' From Omicron to Om Sunak drew on his COVID-era experience as Chancellor of the Exchequer to drive home a broader point: while data was critical, instinct—rooted in values—was what made the difference. 'I used to find comfort in the idea that data could always provide a certain answer,' Sunak said. 'But Akshata helped me see that data can't look around corners. It can't make the decision for you.' It was a lesson, he said, that helped him resist pressure for a second national lockdown in late 2021, when the Omicron variant emerged. While the experts were divided, Sunak trusted his intuition—and ultimately, his duty to protect not just lives, but livelihoods. Dharma for the Next Generation The concept of Dharma wasn't just for prime ministers. Murthy extended it to young people, particularly through initiatives like Lessons at 10 and The Richmond Project, both aimed at increasing youth numeracy and life skills across the UK. 'Successes and failures are part of the package that comes with leadership,' she said. 'Dharma isn't just relevant in public service… it gives you the resilience and clarity to overcome whatever's thrown at you without losing your way. ' The GSB audience—diverse, ambitious, and often torn between idealism and practicality—was urged to embrace the same principle. Not to obsess over outcomes, but to anchor themselves in purpose. 'If you want to lead,' said Sunak, 'it's not a question of data or intuition. You've got to get comfortable with both.' An Indian Ethos in Global Power Data, Dreams and Dharma: Stanford GSB Commencement Speech 2025 That both Sunak and Murthy come from families steeped in Indian values added an additional layer to the message. As the daughter of Infosys founder Narayana Murthy, and as Britain's first Indian-origin prime minister, they embodied a fusion of East and West, Silicon Valley and Westminster, tradition and modernity. In invoking Dharma, they weren't just quoting a Sanskrit term—they were redefining global leadership with it. For a generation of graduates who will face climate breakdowns, AI disruption, political upheavals and moral dilemmas far more complex than case studies can capture, the message resonated: Don't just optimise. Do your duty. Whether it's in public service, entrepreneurship, or social impact, the world, they said, needs more leaders shaped not just by capital markets—but by Dharma. As the applause rang out and the tassels turned, Rishi and Akshata Murthy left the GSB stage not as power couple or policy wonks, but as philosopher-guides—reminding the next generation that greatness isn't just built on ambition or data, but something older, deeper, and infinitely more enduring. A sense of duty. Or as the Bhagavad Gita would put it: 'Karmanye vadhikaraste ma phaleshu kadachana' — 'You have the right to perform your duty, but not to the fruits of your actions.' That, perhaps, is the ultimate graduation gift.
Fashion Value Chain
14 minutes ago
- Fashion Value Chain
Butterfly Unveils a Bold New Identity That Celebrates Change and Champions the Original You
Butterfly, one of India's most trusted kitchen appliance brands, is turning a new page. With a refreshed brand identity, a renewed purpose, and a sharper understanding of today's ever-evolving consumer. Butterfly New Logo At the heart of this refresh is a symbol as timeless as it is transformative-the fingerprint. Merging beautifully into the wings of a butterfly, the evolved icon reflects the brand's core belief: that while life changes, one's essence remains. It is this personal imprint-one's way of thinking, cooking, creating, and living-that Butterfly now celebrates. This new era of Butterfly speaks directly to consumers with a 'zillenial' attitude to life-self-aware individuals who embrace transformation while staying rooted in who they are. For them, change is constant-but authenticity is non-negotiable. The brand aims to focus not on age, but on attitude by moving beyond demographics to psychographics-because a zillenial mindset isn't defined by numbers, borders or genders but by how one embraces change. Butterfly's refreshed positioning, 'Celebrating Change', reflects a deep understanding of modern Indian homes, where shifting roles, hybrid lifestyles, and tech-integrated living are the norm. As a subsidiary of Crompton, one of India's leading names in home solutions, Butterfly is now equipped to bring intuitive and purposeful innovations that transform everyday experiences in the kitchen and beyond. 'For over 40 years, Butterfly has been a part of millions of kitchens across India. Today, as homes become more fluid and identities more self-defined, our new identity reflects not just who we are-but who we're here for,' said Swetha Sagar, Chief Business Officer, Butterfly. The new Butterfly logo is more than just a symbol-it's the mark of millions of consumers, retailers, dealers, employees and designers who are making the Butterfly products. Crafted from the distinct swirls of a fingerprint, the wings of the butterfly now carry the story of every individual it touches. It's a tribute to the idea that no matter how much life shifts, one's identity leaves a mark-on choices, kitchen and the everyday rhythm. 'This is more than a rebrand. It's a reimagining of what it means to belong in a modern Indian kitchen. Butterfly is for the originals. The ones who grow, shift, and adapt, but never lose the essence of who they are.' she said. From mixer grinders to cooktops, Butterfly's product range is undergoing a transformation across categories-designed to be more intuitive, durable, and design-forward, catering to the changing rhythms of contemporary households. The brand's commitment remains the same: to improve everyday life by providing intelligent solutions that understand and evolve with the consumers. About Butterfly Gandhimathi Appliances Ltd. 'Butterfly' is amongst the Top 3 Brands in India in kitchen and small domestic appliances. It is a reputed brand with high consumer recall in South, known for Aesthetics and Product Quality. It has diverse product portfolio, with variants adapted to meeting consumer needs. It has 4 core products – Mixer Grinders, Pressure Cookers, Gas Stove, Wet Grinders and backed by a full suite of small domestic appliances. It has state of art in-house manufacturing setup with strong backward integration.
Time of India
16 minutes ago
- Time of India
Strait of Hormuz blockade looms: Asian countries most vulnerable to Iran's trump card
Around 84 percent of oil passing through the Strait of Hormuz is destined for Asia, leaving the economies of China, India, South Korea and others vulnerable should Iran blockade the crucial trading route over US strikes on its nuclear sites. Around 14.2 million barrels of crude oil and 5.9 million barrels of other petroleum products pass through the strait per day -- representing around 20 percent of global production in the first quarter, according to the US Energy Information Administration (EIA). And crude oil from Saudi Arabia, the UAE, Iraq, Kuwait, Qatar and Iran almost exclusively passes through the corridor. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Your IQ Is 140 If You Can Answer 10 Of These Questions Correctly IQ International Undo Here are the main Asian countries where oil exported via the strait is destined: China More than half of the oil imported by East Asia passes through the Strait of Hormuz, experts estimate. Live Events China is one of the largest buyers, importing 5.4 million barrels of crude oil a day through Hormuz in the first quarter this year, according to the EIA. Saudi Arabia is China's second-largest supplier of crude oil, accounting for 15 percent of its total oil imports -- 1.6 million barrels a day. China also buys more than 90 percent of Iran's oil exports, according to the analysis firm Kpler. It imported 1.3 million barrels of Iranian crude oil a day in April, down from a five-month high in March. India India is highly dependent on the Strait of Hormuz, importing 2.1 million barrels of crude a day through the corridor in the first quarter, EIA data shows. Around 53 percent of India's imported oil in early 2025 came from Middle Eastern suppliers, particularly Iraq and Saudi Arabia, local media reported. Also Read: India safe from Strait of Hormuz closure due to diversified oil imports, says Hardeep Singh Puri Wary of an escalating conflict in the Middle East, New Delhi has increased its imports of Russian oil over the past three years. "We have been closely monitoring the evolving geopolitical situation in the Middle East since the past two weeks," India's Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Sunday. "We have diversified our supplies in the past few years and a large volume of our supplies do not come through the Strait of Hormuz now," he wrote on X, adding "We will take all necessary steps to ensure stability of supplies of fuel to our citizens." South Korea Around 68 percent of South Korea's crude oil imports pass through the Strait of Hormuz -- 1.7 million barrels a day this year, according to the EIA. South Korea is particularly dependent on its main supplier Saudi Arabia, which last year accounted for a third of its oil imports. Seoul's trade and energy ministry said there have been "no disruptions so far in South Korea's crude oil and LNG imports" but "given the possibility of a supply crisis", officials were "planning for potential disruptions in the Strait of Hormuz". "The government and industry stakeholders have prepared for emergencies by maintaining a strategic petroleum reserve equivalent to about 200 days of supply," the ministry said in a statement. Japan Japan imports 1.6 million barrels of crude oil a day through the Strait of Hormuz, the EIA says. Japanese customs data showed 95 percent of crude oil imports last year came from the Middle East. The country's energy freight companies are readying for a potential blockade of the strait. "We're currently taking measures to shorten as much as possible the time spent by our vessels in the Gulf," shipping giant Mitsui OSK told AFP. Others Around 2 million barrels of crude oil passing through the Strait of Hormuz each day in the first quarter were destined for other parts of Asia -- particularly Thailand and the Philippines -- as well as Europe (0.5 million barrels) and the United States (0.4 million barrels). Limited alternatives Asian countries could diversify their oil suppliers, but it is difficult to replace the large volumes coming from the Middle East. In the short term, "elevated global oil inventories, OPEC+'s available spare capacity, and US shale production all could provide some buffer", experts at MUFG Bank said. "However, a full closure of the Hormuz Strait would still impact on the accessibility of a major part of this spare production capacity concentrated in the Persian Gulf," they said. Saudi Arabia and the UAE have infrastructure to bypass the strait, potentially mitigating disruptions, but their transit capacity remains very limited -- around 2.6 million barrels a day. And the Goreh-Jask pipeline built by Iran to export via the Gulf of Oman, which has been inactive since last year, has a maximum capacity of only 300,000 barrels per day, according to the EIA.
