BUSINESS
Go Airlines got premium refund for grounded aircraft
The airlines' total fleet size is 54 aircraft, out of which 27 have been grounded for more than a year, Kaushik Khona, Chief Executive Officer, Go Airlines, told IANS. "Last year, we got a refund of the premium paid for covering the aircraft hull. The refund was about 70 per cent. The insurer was New India Assurance," Khona told IANS.
Air India extends VRS offer for its employees till May 31
According to Air India, the permanent general cadre officers who have attained the age of 40 years or above and completed a minimum of five years of continuous service at the airlines are eligible for the offer. Also eligible will be clerical and unskilled categories of employees who have completed a minimum of five years of continuous service.
Gieom's Ops and Risk Central is now available on Temenos Exchange
Temenos Exchange brings innovation to market faster, and at scale. The ecosystem offers pre-integrated and approved fintech solutions that can be easily deployed on top of Temenos open platform for composable banking, enabling banks to accelerate the creation of new financial services, while reducing the costs of development.
TCNS to Merge with Aditya Birla Fashion and Retail Limited (ABFRL)
The value of the promoter stake and open offer consideration for TCNS is ~ Rs. 1650 Crores for 51% stake, making this one of the largest deals in the Indian fashion space. nMr. Onkar Singh Pasricha, Chairman and Executive Director of TCNS, commented "This deal marks a true milestone for our company and itsstakeholders.
Bengaluru-based VC firm 3one4 Capital raises Rs 1,600 cr in new fund
"We are building 3one4 Capital to be the leading Indian homegrown venture capital firm, and this requires us to set an example of decadal discipline and consistent performance,” said Pranav Pai, Partner, 3one4 Capital. “We can now continue to direct more meaningful capital to discover the next set of generational tech leaders from India,” he added.
Commerce minister Piyush Goyal to co-chair India-Canada ministerial trade dialogue
MDTI is a bilateral mechanism which provides institutional mechanism to discuss a broad spectrum of trade and investment related issues and cooperation areas. The dialogue will focus on various themes, including strengthening the bilateral trade relationship between India and Canada, investment promotion and cooperation.
Executives who led US banks into crisis should face punishment: Warren Buffett
The owner of the investment firm Berkshire Hathaway said US bank directors “should suffer” when they run into trouble, adding that he was wary of most banking stocks because of “the messed-up incentives”, The Guardian reported. The comments made by Buffett, 92, who is known to investors as the “Oracle of Omaha”, come a week after the collapse of First Republic Bank, the biggest US bank to fail since the 2008 financial crisis, The Guardian reported.
Nirmala Sitharaman to hold FSDC meeting on May 8 to review economy
She is expected to hold a meeting of the financial stability and development council (FSDC), which is likely to be attended by regulators of the financial institutions, namely the chiefs of RBI, IRDA and SEBI, among others. The meeting will review the current global and domestic economic situation and financial stability issues, sources said.
Elon Musk credits father for teaching 'physics, engineering & construction'
Elon Musk, who owns several companies like Twitter, Tesla and SpaceX said that he has not "inherited anything ever from anyone", quashing the long-running rumour which claims his father owns an emerald mine in South Africa and that he has given him financial assistance.
Sugar prices rise as output likely to be 9% lower than last year
From Rs 41.05 per kg on April 2, the retail price of sugar rose to Rs 42.30 per kg on May 2. Similarly, wholesale prices too have risen by Rs 124 per quintal during the past one month. From Rs 3,805 per quintal on April 2, wholesale prices of sugar have risen to Rs 3,929 per quintal as on May 2.
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