BUSINESS
Indian firms to generate 49% of revenue from digital infra by 2027: Report
India is leading the Asia-Pacific region, with 97 per cent of businesses using or planning to use edge computing in business operations, according to the 'CIO Technology Playbook 2023' by global technology company Lenovo and chip-maker AMD. "With the rise of digital capabilities, businesses are leaning towards data-driven innovation to drive effective business decisions
Aviation sector bringing people closer, says PM
Retweeting Union Aviation Minister Jyotiraditya Scindia's post of India reaching a new milestone in domestic air passenger movement after the Covid pandemic, Modi said: "More airports and better connectivity... the aviation sector is bringing people closer and boosting national progress." Domestic aviation traffic on February 19 crossed the mark of 4.44 lakh as against the pre-Covid average of 3.98 lakh.
Easing inflation, bottoming of rural demand weakness, continuing IT exports seen post Q3 results
In the report, JM Financial said the easing of inflationary pressure, reflected in higher EBITDA margins. While the rural demand has not picked but the weakness has bottomed out. On the services sector front, the report said exports hasn't been affected due to slowdown in the developed economies which bodes well for IT services companies.
Major central banks will continue to tighten policies in first half of 2022
Sara Johnson, Executive Director, Economic Research, S&P Global Market Intelligence said: "The global economic outlook has brightened, with the major economies showing resilience in early 2023. However, persistent core inflation will lead to further monetary tightening, restraining growth. With supply conditions improving, progress in reducing inflation will continue.
India Inc's profits moderate as consumption slowdown a worry
The commentary for the consumer sector indicated continued weak rural demand, but most of the companies also stated that there were some green shoots on rural consumption towards the end of the quarter that persisted into January 2023. There was also hope expressed that the likely good Rabi harvest along with a decline in CPI inflation would spur staples demand, albeit, gradually.
India a great use case for 2-wheeler EV market: Dassault Systemes
The automotive, electric 2-wheelers (E2W) market grew by more than 300 per cent (year-on-year) in 2022. By 2025, the share of E2Ws and connected 2-wheelers (C2W) will both cross 50 per cent, according to a report by Cybermedia Research (CMR). "The typical notion when we think of an EV is a car, but in India, it is the two-wheeler," Jain told IANS.
Newark-Delhi Air India flight diverted to Stockholm after oil leak
Flight AAI106, a Boeing 777-300ER aircraft, made an emergency landing in the Swedish capital on Wednesday, following which a large number of fire engines were stationed at the airport. Officials said that all the people on board the aircraft are safe. A senior Directorate General of Civil Aviation (DGCA) official said that during the ground inspection, oil was seen coming out from the drain mast of engine two and further inspection is in progress.
McKinsey to slash 2,000 jobs in one of biggest layoffs
The job cut is likely to focus on support staff who do not have direct contact with clients, reports Bloomberg. The layoffs are reportedly part of 'Project Magnolia', which the consulting firm hopes will help preserve the compensation pool of its partners. "We are redesigning the way our non-client-serving teams operate for the first time in more than a decade, so that these teams can effectively support and scale with our firm," a company spokesperson was quoted as saying.
UK companies should become part of India's growth story, Rajnath tells UK counterpart
After Singh held a telephonic conversation with Wallace on Tuesday, the Ministry of Defence said the talks were cordial, positive and focused on future growth of bilateral defence relationship. Singh and Wallace discussed a wide range of defence and security issues, including regional developments and the Indo-Pacific, a Defence Ministry official said.
FreshToHome raises $104 mn led by Amazon Smbhav Venture Fund
Existing investors Iron Pillar, Investcorp, Investment Corporation of Dubai (the principal investment arm of the Government of Dubai), Ascent Capital and others also participated in this round. The funds will strengthen FreshTo'ome's mission to make 100 per cent preservative and antibiotic-residue free fish, seafood, and meat accessible and affordable to millions of meat lovers"
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