BUSINESS
EV charging revenue likely to exceed $300 bn globally by 2027
According to Juniper Research, the total number of plug-in vehicles will surpass 137 million globally by 2027, up from 49 million in 2023. As the adoption grows, "charging vendors must differentiate their services in a highly fragmented market," the report said. "It is important for EV charging vendors to target consumers as early as possible to build brand loyalty.
Indian banks improving performance good for intrinsic creditworthiness: Fitch
Fitch also said a sustained improvement in the financial performance of Indian banks bodes well for the sector's intrinsic risk profiles. The capital buffers are broadly in line with its projections, Fitch said. The sector's impaired-loan ratio declined to 4.5 per cent in the first nine months of the financial year ending March 2023 (9MFY23), from 6 per cent at FY22 which is nearly 60 basis points (bp) of its FY23 estimate, Fitch said.
Ed-tech company NxtWave raises $33 mn to upskill Indian youth
NxtWave said it plans to utilise the funds to further enhance the learning experience by investing in its product and content. "We'll bring high-quality, employability-focused education to India's youth and equip them for the jobs of the future at scale. With National Education Policy 2020, the government has created a highly supportive environment for skill-based learning.
B.V.R. Subrahmanyam to be new NITI Aayog CEO, Parmeswaran Iyer moves to World Bank
Iyer has been appointed as Executive Director of World Bank at the institution's headquarters in Washington DC for a period of three years, from the date of assumption of charge of the post or until further orders, whichever is earlier. His World Bank appointment was cleared by the Appointments Committee of Cabinet according to an order issued on Monday.
Air India New York-Delhi flight diverted to London due to medical emergency
According to information, the flight that departed from New York at 11.05 p.m. on Sunday was scheduled to arrive at Delhi airport at 11.25 p.m. on Monday. A reaction from the airline on the issue was awaited. Earlier on Monday, an IndiGo flight operating from Delhi to Deogarh was diverted to Lucknow following a specific bomb threat.
Indigo leads domestic aviation sector in Jan with 54.6% market share
Also, in January 2023, a total of 418 passenger-related complaints were received by scheduled domestic airlines. The number of complaints per 10,000 passengers carried for the month of January 2023 has been around 0.33. As per the latest data of January by the aviation regulator DGCA, Indigo carried 68.47 lakh air passengers during the month of January, while Air India and Vistara carried 11.55 lakh and 11.05 lakh air passengers, respectively.
Nirmala Sitharaman refuses to provide NPS funds for old pension scheme
"If any state takes a decision for some reason that the funds of NPS can be collected from the Centre, then it will not be available," the Finance Minister said. It needs to be mentioned here that Rajasthan recently announced the OPS for its state employees. In fact, the Congress government has also announced OPS in Himachal Pradesh.
Margin recovery highlight of Q3 results: ICICI Securities
"This is post a low of 14.7 per cent margin recorded in the last quarter i.e. Q2FY23. On an aggregate basis (ex-financials), the Nifty topline for Q3FY23 was largely flat QoQ at Rs 13.4 lakh crore with EBITDA up 16 per cent QoQ at Rs 2.3 lakh crore and PAT by 16.6 per cent QoQ at Rs 1.1 lakh crore," the report notes.
EPFO adds 14.93L members in Dec 2022; Maha, TN top the list
The year-on-year comparison of payroll data reflects an increase of 32,635 in net membership addition in December 2022 as compared to the corresponding month during last year in 2021. The provisional payroll data of the EPFO released on Monday highlighted that out of 14.93 lakh members added during the month, around 8.02 lakh new members have come under the social security coverage of EPFO for the first time.
Reliance Group trouble-shooter Tony Jesudasan dies at 71
Anthony (Tony) Jesudasan, a well-known and high-profile corporate communications and corporate affairs professional, was suffering from heart ailments and was under treatment at Medanta Hospital in Gurugram. Earlier this month, he suffered a heart attack just as he took a flight from Bhopal. On arrival, he was taken to Fortis Hospital, and underwent angioplasty.
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