BUSINESS
Xiaomi's Manu Jain moves on after 9 yrs, prepares for 'beginning of a new journey'
In a post on Twitter, Jain, who was hailed as the poster boy of the Indian smartphone industry, announced the move, but did not disclose where he would be joining next. "I joined the Xiaomi Group in 2014 to start its India journey. The first few years were full of ups and downs. We started as a one-person startup, working from a small office," he said.
India Inc bosses to get 9.1% pay hike, average CEO compensation now Rs 8.4 cr
The study found that among the Bombay Stock Exchange's (BSE) top 30 companies, long-term incentive (LTI) is provided at 176 per cent of fixed pay for CEOs and at 103 percent for other c-level executives, including the chief operating officer, chief financial officer, sales leader and chief human resources officer.
10-yr tax holiday, less holding period of ESOP shares: Startups on Union Budget
Gautam Nimmagadda, Founder and CEO of Quixy, a cloud-based no-code application development platform, said that currently, startups can avail of a tax holiday for three years since incorporation. "However, the ideal exemption should be 10 years, in view of the high cost of solution development.
Economic survey to be presented in Parliament on Tuesday
The Economic Survey, which is prepared by Chief Economic Adviser V. Anantha Nageswaran, will be tabled in Parliament by Finance Minister Nirmala Sitharaman, soon after President Droupadi Murmu's address to both houses of Parliament. As per convention, the Economic Survey is presented every year a day before the announcement of the Union Budget.
Tesla's vehicle deliveries to exceed 1.7 mn units globally in 2023
Tesla's strong fundamentals are expected to keep the company ahead of most other electric vehicle brands globally. Tesla announced price cuts this month, which has resulted in the demand ballooning to twice the production, according to Counterpoint Research. Besides, pilot production of the Tesla Semi began in 2022 and the vehicle is expected to hit the road soon.
LIC to talk to Adani Group over Hindenburg Research report: Report
"Presently there is a situation that's emerging and we are not sure what is the factual position ... Since we are a large investor we have the right to ask relevant questions and we will definitely engage with them," LIC Managing Director Raj Kumar was quoted as saying by Reuters.
Apple sells 2 mn iPhones in India in holiday quarter, logs 18% growth
The India market share of iPhones reached 5.5 per cent for 2022, an 11 per cent growth (year-on-year). For 2021, Apple iPhones had logged 48 per cent YoY growth with 4.4 per cent market share in the country. According to the latest CMR data, iPhone 14 series logged 59 per cent market share in Q4 2022, followed by iPhone 13 series at 32 per cent growth.
Moody's withdraws IDBI Bank's credit ratings for business reasons
According to Moody's, it has withdrawn the Ba1/NP long-term (LT) and short-term (ST) local and foreign currency counterparty risk ratings (CRR), Ba2/NP LT and ST local and foreign currency bank deposit ratings, Ba2 foreign currency senior unsecured rating, Ba1(cr)/NP(cr) LT and ST counterparty risk assessments (CRA), and b1 baseline credit assessment (BCA) and adjusted BCA.
Affordable housing demand down to 26% in 2022, sector expects boost from Budget
ANAROCK's Consumer Sentiment Survey finds that in 2022, demand for affordable housing has sunk precariously. In 2018, nearly 39 per cent property seekers in the top seven Indian cities were keen on affordable homes priced within Rs 40 lakh. This demand shrunk to its lowest levels in 2022, with just 26 per cent property seekers looking to buy in this budget segment.
Blocked out of system in the middle of call: Sacked Google recruiter
Dan Lanigan Ryan, a recruiter at Google, who spent 1.3 years at the company in Dublin, Ireland, wrote in his LinkedIn post, "Unfortunately, I was laid off from Google along with many thousands of others last Friday". "I did not expect it to come to such an abrupt end, blocked out of the system in the middle of a call," he added.
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