SAO PAULO – The chief executive of Brazil’s state-run oil company Petrobras resigned on Monday in the face of mounting pressure from politicians after the firm announced a fuel price hike last week, adding to inflation concerns in an election year.
Petroleo Brasileiro SA, as the company is formally known, said in a securities filing that Chief Executive Jose Mauro Coelho had resigned on Monday morning and kotybrytyjskiebonawentura.eu an interim CEO would now be appointed for the board’s consideration.
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CEO Alagh told the Business Standard newspaper in January that 70% of Mamaearth’s sales come from online platforms, but it was targetting a bigger offline presence and aiming to reach 40,000 retail outlets in 100 cities this year.
The company’s pre-tax profits also plunged by 37 per cent due to soaring costs of making workplaces Covid-secure and supply chain constraints driving cost increases in recycling paper and old corrugated cases.
Mamaearth was co-founded by Varun Alagh, a former Hindustan Unilever executive, and his wife Ghazal. With the brand endorsed by popular Bollywood celebrities, the duo has cashed in on growing e-commerce adoption in India by offering its products on platforms such as Amazon and Walmart’s Flipkart.
DS Smith’s largest customers include Amazon, one of the most notable beneficiaries of the pandemic-induced boom in online retail, as well as supermarket chain Tesco, which renewed its partnership with the group last October.
In addition to the satellites themselves, Amazon plans «small, affordable client terminals» along the lines of Echo smart-homes and Kindle e-readers, and promises to «provide service at a price that is affordable and accessible to customers,» with no further pricing details im
Chief executive Miles Roberts said the firm’s impressive performance came against ‘another year of volatile trading conditions where we have worked through the tail-end of the pandemic and, more recently, the tragic events of the Russian invasion of Ukraine’.
MUMBAI, June 21 (Reuters) – Sequoia Capital-backed Indian skincare startup Mamaearth is in talks to raise at least $300 million in a planned IPO next year and is seeking a valuation of around $3 billion, three people with direct knowledge of the company’s plans told Reuters.
But because these services use satellites at geostationary orbit — more than 35,000 kilometers (22,000 miles) from Earth’s surface — their speed cannot match that of fiber, prohibiting use for high-speed tasks li
The US online retail giant wants to strengthen its lucrative diversification into IT services, and «provide low-latency broadband to a wide range of customers,» including those «working in locations without a reliable internet co
One equity research analyst, however, said the success of Mamaearth’s IPO could hinge on how it plans to rapidly expand into offline sales.
Most Indians still go to retail outlets to shop, with e-commerce accounting for just 5-6% of spending. The number of online shoppers for beauty products is also projected to rise to 135 million from 25 million during that period, it added.
In late March, the United Nation’s International Telecommunication Union remarked that «once considered a luxury, internet connectivity became crucial for many during the COVID-19 pandemic as populations faced stay-at-home orders and many practices move