BUSINESS
Delhi court extends ED custody of Vivo executives by three days in PMLA case
Hari Om Rai, the MD of Lava International, Chinese national Guangwen Kyang aka Andrew Kuang, Rajan Malik, and chartered accountant Nitin Garg were produced before Additional Sessions Judge Devender Kumar Jangala of Patiala House Courts on expiry of three-day Enforcement Directorate (ED) remand.
Air India prevented revenue loss of over Rs 3cr: CEO Wilson
“Airlines are a high-profile target for fraudsters whether it be attempts to use stolen credit cards on our websites, to fraudulently claim frequent flyer miles, or other scams. Erstwhile Air India was somewhat of an easy target in the past but as we have completely modernised our systems this is no longer the case. With our continued investment in state-of-the-art capabilities, we will increasingly be able to turn the tables on criminals,” said Wilson, in his message.
HDFC Life logs Rs 376 crore PAT for Q2
In a regulatory filing HDFC Life said it had earned a net premium of about Rs 14,755 crore (Q2FY23 Rs 13,110 crore) and a net profit of about Rs 376 crore (Rs 326 crore).
India’s trade deficit dips in Sep as imports decline
The country’s merchandise exports declined by 2.6 per cent to $34.47 billion compared to the same month last year, while the imports were valued at $53.84 billion in September.
Nifty closes lower in volatile trade
Volumes on the NSE rose towards recent average volumes. Broad market indices closed almost flat even as the advance decline ratio dropped to 0.88:1.
Qualcomm to layoff over 1,200 employees in US: Report
According to a recent filing with the California Employment Development Department, the company informed it will be laying off about 1,064 workers from San Diego and 194 from Santa Clara, reports CNBC.
Indian startup sector sees significant drop in deal activity in 2023
Overall, there was a 39 per cent decrease in the number of deals and a 68 per cent decrease in their total values, according to Grant Thornton Bharat's ‘Q3 Deal tracker Report.’
Air India Express to induct 50 new Boeing 737 MAX planes in next 15 months
"Over the next 15 months, a total of 50 new Boeing 737 MAX aircraft will join the LCC fleet, allowing us to grow our network to new destinations and increase flights on existing routes. Our key focus is now the preparedness for deploying this capacity. Already, over 800+ aircrew and other operational personnel have joined us, under various stages of training," he wrote.
OpenAI’s revenue on track to reach $1.3 bn this year: Report
Microsoft-backed AI company is apparently generating more than $100 million per month, up 30 per cent from earlier this year, reports The Information, citing sources.
Results of IT majors struggling with weak numbers impacting market
Leading banking names have the strength to continue supporting the market, he said.
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