Category: Business & Economics

Airbus is closing towards a potentially record deal to sell 500 narrow-body A320-family jets to India’s largest carrier IndiGo, industry sources said. The European plane maker has emerged as the front-runner for an order eclipsing Air India’s historic provisional purchase of 470 jets in February, the sources said on the sidelines of an airline industry meeting in Istanbul. Such a deal would be worth some $50 billion at the most recently published Airbus list prices, but would typically be worth less than half this after widespread airline industry discounts for…

Byju’s firm is expected to pay the $40 million installment of its highest unrated loan of $1.2 billion on Monday.  Byju’s, one of the most valuable startups, plans to make a quarterly interest payment of about $40 million on a loan that has been at the center of the beleaguered firm’s financial troubles.  The ed-tech firm expects to pay on Monday to meet the June 5 deadline, failure to pay on that date means the $1.2 billion loan will default.  The loan, which slumped to a record low of 64.5…

The Navy, as a self-driven and environmentally responsible force, has always been committed towards environment protection and green initiatives. As guardian of the seas, the Navy employs a number of ships, submarines and aircraft that have high energy intensity, thus increased energy efficiency is paramount in every operation and process the Navy undertakes. Some of the noteworthy initiatives towards ‘Clean and Green Navy’, are elaborated in succeeding paragraphs. IN has commissioned solar power with cumulative capacity of 15.87MW which is in line with the Navy’s objective of fulfilling Govt of India’s ‘Jawaharlal Nehru…

Indian automakers reported robust sales of sport utility vehicles (SUVs) in May on steady demand and saw an uptick in two-wheeler sales on the back of the wedding season and replacement of old bikes and scooters. Hero MotoCorp Ltd.’s dispatches to dealerships rose 7% to 5.19 lakh units in May, beating analysts’ consensus estimates, which forecasted a decline of over 6% during the month. India’s largest two-wheeler manufacturer, Hero MotoCorp, has revealed its sales figures for the month of May 2022. The company sold 4,86,704 two-wheelers in India last month,…

This is the single largest contribution by any organisation to TMC ·         The money will be utilised to set up three new state-of-the-art blocks at TMC hospitals in Maharashtra, Punjab and Andhra Pradesh ·         The fund will also equip the new buildings with state-of-the-art medical facilities ·         Will double the capacity of patients to get advanced oncology treatment   Mumbai:  ICICI Bank today announced a commitment to contribute Rs 1,200 crore towards Tata Memorial Centre (TMC), a premier institution that runs cancer treatment and research centres across the country. ICICI Bank will donate the money…

The Ministry of Coal has achieved a remarkable feat with a substantial surge in overall  coal production during the month of May’23, reaching 76.26 Million Tons(MT), surpassing the figures of the month May’22 of 71.21 MT, representing an increase of 7.10%. The production of Coal India Limited (CIL) has increased 59.94 MT in the month of May’23 as compared to 54.72 MT in May’22 with the growth of 9.54%. The cumulative coal production has seen quantum jump of 149.41 MT in FY’ 23 as compared to 138.41 MT in FY’22…

 Auditor Deloitte raised concerns over Adani Ports’ transactions with three entities, which the company said were unrelated parties. However, the auditor said it could not confirm that the parties were indeed unrelated. It has also issued a qualified opinion on the accounts of Adani Ports. In the auditors’ report on the audit of the fourth quarter and 2022-23 financials, Deloitte Haskins & Sells LLP highlighted transactions with three entities, which the company said were unrelated parties. Deloitte, however, said it could not attest to the company’s statement as no independent…

Some Amazon.com Inc employees staged a walkout in protest of the e-commerce giant’s changes to its climate policy, layoffs, and a return-to-office mandate.  News release from Amazon Employees for Climate Justice cited “a lack of trust in company leadership’s decision-making” as one of the reasons for the demonstration.  More than 1,900 employees had pledged to protest globally, according to the organizers, an activist group known as Amazon Employees for Climate Justice (AECJ).  Amazon announced some 27,000 role cuts in recent months, or 9% of its corporate workforce, a shift for…

The Union Cabinet chaired by the Hon’ble Prime Minister Shri Narendra Modi has approved to establish a Regional Office of the Universal Postal Union (UPU) in New Delhi, India to undertake UPU’s development cooperation and technical assistance activities in the region by entering into an agreement with UPU. The approval enables India to play active role at multilateral organizations in postal sector with emphasis on South-South and Triangular cooperation.  India will provide a Field Project Expert, staff and office set up for UPU’s regional office.  Projects on capacity building and…

In a step that heralds a new era in the global startup ecosystem, the Startup20 engagement group today hosted an Embassy meetup at Atal Innovation Mission, NITI Aayog. With a singular objective of provoking an impactful response from the leadership of G20 countries, this meeting marks a significant milestone in shaping the future of startups worldwide. Esteemed representatives from countries like Denmark, Austria, Australia, Sweden,  EU, Brazil, Oman, Canada, Indonesia, Mexico and Estonia actively participated in shaping policies that will drive the growth and success of startups across their respective…