BUSINESS
'Higher passenger traffic, free pricing, lower costs make tailwind for Indian airlines profitability next fiscal'
"India's airlines industry, for the first time since the onset of pandemic, is expected to be back in black next fiscal. The industry is also likely to pare its net loss by 75-80 per cent on-year to Rs 3,500-4,500 crore this fiscal, compared with about Rs 17,500 crore last fiscal," CRISIL said. Strong recovery in passenger traffic and easing cost pressures are supporting this turnaround in operating performance of airlines.
PM meets Foxconn chairman Young Liu
In response to a tweet by Hon Hai, Modi on Wednesday tweeted, "Had a good meeting with Mr. Young Liu. Our discussions covered various topics aimed at enhancing India's tech and innovation eco-system." "Chairman Young Liu is visiting India. Today we had a warm meeting with Honourable Prime Minister @narendramodi and updated him on our good progress in the country.
Rated Indian finance Cos have good asset quality, poor profitability in emerging markets: Moody's
In a report about Moody's rated finance companies in six emerging markets the credit rating agency said Indian companies have good and stable asset-quality metrics owing to well-established track records in lending to specific industries such as consumer loans secured by gold goods as collateral (gold loans), the government's power and infrastructure sectors, and residential mortgages.
Close gender gap to increase global economic activity by $7 trillion: Moody's Analytics
"Closing the gaps in large emerging economies, including India, would raise that potential further still," the report added. According to the report, in some countries, progress towards gender equality in the workforce seems to be headed in reverse -- in the UK, France and Turkey, the share of women in senior and middle management positions declined from 2010 to 2019.
GST collections in Feb slide to Rs 1,49,577 cr against Rs 1,55,922 cr in Jan
Out of the Rs 1,49,577 crore collected through GST revenue in February, CGST was Rs 27,662 crore, SGST was Rs 34,915 crore and IGST was Rs 75,069 crore (including Rs 35,689 crore collected on import of goods) while cess was Rs 11,931 crore (including Rs 792 crore collected on import of goods). February's GST collections were marginally higher than December 2022 collections.
By March end, entry & boarding gates of Delhi Airport's Terminals 2, 3 to be DigiYatra enabled
Delhi International Airport Limited that operates and manages Delhi's IGI Airport on Wednesday announced this saying that it is working on making all the entry and boarding gates of Terminals 3 and 2 DigiYatra-enabled for an enhanced and seamless passenger experience.
Sequoia India and Southeast Asia's Surge to empower 12 new startups
'Surge 08' cohort includes startups that are building futuristic products across climate tech, AI, metaverse, digital health, new consumer brands and new models of e-commerce. The curated community of startups under the programme now includes eight cohorts, more than 300 founders and over 130 startups across more than 16 sectors, Sequoia India and Southeast Asia said.
Delivery boys being harassed in Delhi, says Swiggy; Zomato raises concern too
A Swiggy spokesperson told IANS that their delivery executives are being wrongly issued challans despite the notification being applicable only to bike taxi service providers. "Some challans that have been issued to our delivery executives are in excess of Rs 15,000," said the company spokesperson.
Well-planned cities need of the hour in future: PM
Addressing a post-budget webinar on 'Urban Planning, Development and Sanitation', he said: "Well-planned cities are going to be the need of the hour in the fast-paced environment of India in the 21st century. Development of new cities and the modernisation of services in the existing ones are the two main aspects of urban development. Urban planning will determine the fate.
Cooking gas price hiked by Rs 50/cylinder, commercial gas up by Rs 350
With this hike, the retail price of cooking gas in Delhi will now be Rs 1,103 per cylinder, while the price for a commercial cylinder will be Rs 2,119.50. Domestic gas prices were last revised in July 2022. A domestic gas cylinder weighs 14.2 kg while a commercial gas cylinder weighs 19 kg. Every household is entitled to 12 cylinders of 14.2 kg each at subsidised rates in a year.
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