BUSINESS
Rebranded: GoAir becomes ultra-low cost airline Go First
Accordingly, the airline said that at the heart of this revamp is the full embrace of the ultra-low-cost airline model. The airline cited factors such as single aircraft type across its fleet has positioned it to operate the ultra-low-cost model. "To communicate this change, Go First also dons a rebranded identity. With this change, Go First is poised for its next phase of growth as an ultra-low-cost carrier," the airline said in a statement.
'Compulsory licensing' to alleviate shortage may be counterproductive: FICCI
"Further, FICCI strongly believes that in the larger and long-term interest of the country and its citizens, India should not rush to do anything unilaterally that may undermine its present efforts to arrive at a 'multilateral solution' on this issue," the industry body said in a statement.
Job scenario worsens, unemployment rate shoots up to 8% in April
"April 2021 turned out to be worse than expectations. We had expected the labour participation rate to stabilise at its March 2021 level. The LPR had dropped sharply in March already after a modest fall in February. But, the LPR fell for a third consecutive month in April," CMIE's CEO Mahesh Vyas said.
Lilly inks three new pacts to expand availability of baricitinib drug
Lilly received permission for restricted emergency use by the Central Drugs Standard Control Organization (CDSCO), Ministry of Health, for baricitinib to be used in combination with Remdesivir for the treatment of suspected or laboratory-confirmed Covid-19 in hospitalized adults requiring supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation (ECMO).
CAIT asks Piyush Goyal to stop delivery of non-essential items by e-commerce companies
The CAIT has also sent similar communications to Chief Ministers of all States urging them to take immediate cognisance of this violation by e-commerce portals. The CAIT said that the sole purpose of the lockdown is to limit human-to-human interaction and reduce exposure of the general population to the COVID-19 virus
Blue Dart Med-Exp to test UAS for vax deliveries
Blue Dart Med-Express Consortium is part of the 'Medicine from the Sky' project in collaboration with the Government of Telangana, World Economic Forum, Niti Aayog and Healthnet Global. The Ministry of Civil Aviation (MoCA) has granted the project with necessary exemptions and rights to fly drone flights on an experimental basis in Telangana.
Indian PC market surges to 3.1M units in Q1 2021: IDC
Many companies remained fully remote or had adopted a hybrid working model to manage the growing concerns of the pandemic within the country. "As cases continued to rise, a few large enterprises procured PCs in bulk to manage their workforces, adopting these new working models for the long haul," said Bharath Shenoy, market analyst, PC Devices, IDC India
India smartphone shipments forecast down to 170M units in 2021
India's smartphone market will definitely witness a significant dip of more than 30 per cent in the ongoing second quarter (April-June period) and the festive season and pent-up demand are expected to drive the market in Q3 and Q4, according to Counterpoint Research. Consumers will prefer online channels for buying smartphones due to Covid-19 fears.
EU economy rebounds, 4.2% growth projected
The higher economic forecasts come as the vaccination rollout speeds up across the EU, resulting in a more ambitious easing of restrictions on business operations, Xinhua news agency quoted the Commission as saying on Wednesday. The rebound in Europe's economy that began last summer stalled in the fourth quarter of 2020 and in the first quarter of 2021
India will have to invest heavily in infrastructure for economy to recover: UN expert
"A crisis often presents an opportunity" and making the right investments can have a multiplier effect in steering the economies to a recovery, while also making a monumental difference in people's life," Hamid Rashid, the head of the UN Development Research Branch, said on Wednesday in an exclusive interview to IANS TV. Developing countries like India do not have the option of financing a stimulus programme like the US he added
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