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The domestic market paused on the final trading day of the week, having earlier reached yet another record high, buoyed by positive cues from global markets. Noteworthy strength was observed in the capital goods and industrial sectors, bolstered by advancements in both manufacturing and services.
On Wednesday, 1391 stocks advanced, 2451 declined and 100 remained unchanged, with an advance decline ratio of 0.56 on the Bombay Stock Exchange (BSE), indicating negative closing of stocks in broader markets.
TechTaka, a South Korean online shopping fulfillment startup that provides third-party logistics services for e-commerce sellers, has raised $9.5 million (12.6 billion KRW) in a Series B round of funding from a sole investor, Altos Ventures. The outfit helps e-commerce sellers manage the supply chain, from warehousing, order packing and shipping, so that TechTaka users can focus on product and marketing. The startup also provides a SaaS operating system to optimize the online vendors' supply chain and logistics operations.
The cornerstone for the new Bahri Logistics Center has been laid at Jeddah Islamic Port in Saudi Arabia.
The Saudi Ports Authority (MAWANI) aims to achieve the National Transportation and Logistics Strategy (NTLS) goals by consolidating Saudi Arabia's position as a global logistics center and a hub linking three continents. It is seeking to increase private sector investments in ports and conclude contracts and agreements to establish new logistical zones and achieve a qualitative and comprehensive shift in work and operation mechanisms and logistical support in Saudi ports.