BUSINESS
Air India pilots seek Ratan Tata's intervention against airlines' HR Department
Stressing that they take great pride in their work and the role they play in representing the Tata group and India on the global stage, the pilots said: "However, we are currently facing a difficult situation with the current HR department. We feel that we are not being treated with the respect and dignity that we deserve as employees of Air India."
'Cut in prices is not enough to pull the market towards CNG vehicles'
Speaking to reporters here, Dr Venkat Srinivas, Senior Vice President, Product Development said the reduction in CNG prices is helping a bit but not enough to pull the market towards CNG powered vehicles. He said the CNG vehicles are largely in the national capital region. Recently, the central government decided to reduce the CNG prices by Rs 8/kg.
Hyundai Motor's Q1 net jumps 92% on SUVs, increased production
South Korea's Hyundai Motor said on Tuesday its first-quarter net profit jumped 92 per cent from a year earlier on increased production and an improved product mix. Net profit for the three months ended in March rose to 3.42 trillion won ($2.56 billion) from 1.78 trillion won during the same period of last year, the company said in a statement.
Indian IT spending to slow down to 4.7% this year amid global concerns
The IT spending by Indian enterprises and service providers is projected to grow 7.8 percent in 2023, slower than in 2022. Consumer IT spending (dominated by consumer purchases of devices such as mobiles, tablets, PCs, wearables, and peripherals) saw a drastic decline and turned cautious due to rising prices, pulling the growth to 2.1 per cent in 2023.
Delhi to host Northeast Global Investor Summit-2023 in August
A senior official of Tripura Industries and Commerce Department said that the focus sectors of the summit include tourism and hospitality, agro-food processing, textiles, handloom and handicrafts, pharmaceuticals, healthcare, education and skill development, Information Technology and Services, entertainment, sports, tea, energy among others.
First Republic Bank customers pulled over $100bn from their accounts
The US bank says its deposits fell by over 40 per cent since the end of December 2022, the BBC reported. It comes after Swiss banking giant Credit Suisse on Monday revealed the scale of the bank run that triggered its state-backed rescue last month. A series of bank collapses have raised fears of a crisis in the sector.
Meta, Google top executives rake in big bonuses amid company-wide layoffs
Meta workers grilled CEO Mark Zuckerberg during a virtual Q&A session about the six-figure bonuses given to senior executives amid layoffs, reports Entrepreneur. According to Meta's filing with the US Securities and Exchange Commission (SEC) released last week, C-suite executives like chief financial officer Susan Li received.
LIC leads 24 member club in terms of policies sold, premium earned
The life insurance industry sold about 2.85 crore policies and schemes down from about 2.91 crore policies sold in FY22 - a fall of 2.19%. Interestingly, the share of government-owned Life Insurance Corporation of India (LIC) in the total is a whopping 2.04 crore (previous year about 2.17 crore) whereas the 23 private life insurers together sold the remaining 81 lakh policies and 74 lakh schemes.
MoS Finance bats for including 'new voters' in banking sector
Addressing a review meeting of Financial Inclusion Parameters of Western Maharashtra here, the MoS said special camps should be arranged for the purpose to include the 18-plus 'new voters' in the banking system. He also stressed on the need for banks to work towards the unbanked, securing the unsecured and funding the unfunded through various schemes of the government.
Daimler India sold 29,470 trucks, buses in 2022
The DICV, a 100 per cent subsidiary of Daimler Truck AG, Germany, said that it had logged 25 per cent sales volume growth in 2022 over 2021. The company also said that in 2022 it crossed the production milestone of 200,000 vehicles (including domestic and exports) and 200,000 transmissions at its Oragadam manufacturing facility near here.
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