BUSINESS
10 flights cancelled in Jan 2022 due to deployment of 5G services in US
Minister of State for Civil Aviation V.K. Singh in a written reply in the Lok Sabha on Thursday said that the government is aware of the concerns expressed by airlines and manufacturers of aircraft upon the rollout of 5G mobile services in the US and its potential interference with the aircraft radio altimeters.
IMF rejects Pakistan's 'unrealistic' debt management plan
The IMF has asked the government to raise the electricity tariffs from PKR 11 to PKR 12.50 per unit in order to restrict the additional subsidy at PKR 335 billion for the current fiscal year, according to Pakistani media. The IMF review mission, led by Nathen Porter, arrived in Islamabad and both sides are continuing talks to complete the pending ninth review under the USD 7 billion Extended Fund Facility (EFF).
Delhi excise policy case: Credit notes were used to pay kickbacks, says ED
The ED has alleged that credit notes were shared between parties who had no common transactions. The ED said that basically, credit notes were eyewash to divert the ill-gotten money. Ordinarily, the credit notes are passed to the person who has direct nexus with or has sold the goods.
Pakistan's forex reserves barely enough to provide import cover for 18.5 days
Due to foreign debt payments, the central bank said its reserves fell $592 million to $3,086.2 million during the week ended January 27, the lowest since February 2014, and are barely enough to provide import cover for 18.5 days, Geo News reported. The reserves held by the commercial banks stand at $5,655.5 million, $2.6 billion higher than those of SBP, taking the total reserves of the country to $8,741.7 million, the central bank's statement mentioned.
After layoffs, Mark Zuckerberg now wants 2023 to be 'year of efficiency'
In his quarterly earnings call with analysts late on Wednesday, Zuckerberg said that "I just think we've entered somewhat of a phase change for the company". He said that global headcount steadily climbed for nearly two decades, making it "very hard to really crank on efficiency while you're growing that quickly".
Budget seeks to maintain balance between growth & deficit: Fitch Ratings
According to Zook, the Budget was largely in line with Fitch Ratings expectations and did not significantly change the sovereign credit profile. India's fiscal deficit and government debt ratio are high relative to peer medians, but the government's emphasis on reducing the deficit helps to stabilise the debt ratio over the medium term, Zook remarked.
1090 incidents of technical snag in flights during 2021, 2022
As per information from the Ministry of Civil Aviation, the leading carrier Indigo having highest market share recorded 394 instances of technical snags while the Spicejet airline witnessed 313 such instances during the last two years. It is worth noting that Indigo has a fleet size of 300 aircraft while Spicejet has nearly 100 aircraft in its fleet.
Delhi excise policy case: Government's loss of Rs 581 cr was diverted as profit to accused, says ED
This 12 per cent commission was given to them by not paying heed to the expert committee headed by IAS Ravi Dhawan, as per the chargesheet. The ED claimed that the loss was diverted to ostentatious profits to the wholesalers, including accused M/s Indo Spirits which was used to recoup the kickbacks paid in advance by the 'south group'.
Allocation for aid to foreign countries cut by 2.6% in Budget
Some of the countries whose allocation has been reduced under this head include Bhutan, Afghanistan and Mauritius. At the same time, budget allocation for Bangladesh, Nepal, crisis-hit Sri Lanka, Mongolia and that of Eurasian, African and Latin American countries, have been hiked.
Samsung Galaxy Book3 Series starts from Rs 1,09,990 in India
The Galaxy Book3 Series features -- Book3 Ultra, Book3 Pro 360, and Book3 Pro, which is available for pre-booking across online and offline retail stores in the country, starting February 2. The Galaxy Book3 series offers users a connected experience for seamless phone-to-PC connectivity across the operating system.
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