BUSINESS
Jyotiraditya Scindia terms Go First airline issue as 'unfortunate'
"Go First has been faced with critical supply chain issues with regard to its engines. The government has been assisting the airline in every possible manner. The issue has also been taken up with the stakeholders involved. Yet, it is unfortunate that this operational bottleneck has dealt a blow to the airline's financial position," Scindia said while reacting to the development.
NTPC registers 148% coal production growth in April at 2.75 MMT
NTPC recorded 2.75 million metric tonnes (MMT) of coal production during April 2023 as compared to 1.11 MMT recorded during the year-ago period. India's largest power producer also achieved highest-ever monthly coal despatch of 2.95 MMT in April 2023, an increase of 140 per cent on coal despatch volumes of 1.23 MMT achieved during the year ago period.
Interest on bank deposits rising fast than on loans, to impact NIM: CARE Ratings
According to CARE Ratings report, the deposit rates are rising faster than lending rates and going forward it may impact the banks net interest margin (NIM). Further, the rates on fresh business have risen faster when compared to rates on outstanding business.
eBay appoints Vidmay Naini to lead global emerging markets, including India
Vidmay Naini has been with eBay for 18 years and during his tenure, he played a central role on key projects such as eBay's strategic partnership and investment in Flipkart, India's leading e-commerce platform, as well as transforming eBay's business in the country.
Pakistanis' misery worsens as inflation surges to record high
Inflation, measured by the Consumer Price Index (CPI), clocked in at 36.4 per cent year-on-year in April. It was recorded at 35.4 per cent last month and 13.4 per cent in April 2022, Geo News reported. This is the highest inflation ever, according to data available since 1965, Arif Habib Limited said.
Go First cancels all flights on May 3-4 amid financial crunch
Adding to the uncertainty, the Mumbai-based airline has also stopped taking bookings for the next two days. The move came after Go First, which has around 5,000 employees, filed an application for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT), as confirmed by its CEO Kaushik Khona.
Pocket FM raises $16 mn in debt funding from Silicon Valley Bank
The new funds will be utilised for expanding audio series library, augmenting creator community and accelerating revenue, Pocket FM said in a statement. The platform clocked 12 times revenue growth last year, surpassing $25 million ARR (annualised revenue run-rate) in October 2022.
M&M April sales boosted by utility vehicles
According to M&M, it sold 34,694 utility vehicles last month against 168 units in April 2022, while the sales numbers for cars and vans were 4 units (358 units in 2022). The total number of vehicles in the passenger segment sold was 34,698 units last month. The total number of vehicles in the passenger segment sold was.
Google pays entire Rs 1,338 cr penalty to CCI in Android case
Reliable sources told IANS on Tuesday that the entire penalty amount has been deposited in the Consolidated Fund of India, within the 30-day deadline given by the National Company Law Appellate Tribunal (NCLAT) in its order. The Indian market regulator had imposed the penalty on Google in October 2022 for allegedly exploiting its.
Sitharaman meets ADB chief, says India remains key partner
The Union Minister, who arrived in Incheon earlier in the day to attend the annual general meeting of ADB, met Asakawa on the sidelines of the event, official sources said. Sitharaman also expressed support to ADB for innovative financing mechanisms to enhance the lending capacity of the bank.
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