BUSINESS
Infra, semiconductor, domestic manufacturing some strategic priority sectors: Piyush Goyal
In his address at the 27th edition of Wharton India Economic Forum, held virtually, with the theme of India leading innovation in the age of uncertainty, Goyal, citing the most impactful economic reforms that will pave the way for India's growth story in coming years, said a lot of structural changes that have taken place in the last eight years have had a significant impact on the way the Indian economy is poised to take off.
BMW launches two new models including EV
The BMW 740i M Sport is locally produced at BMW Group Plant, Chennai while the all-electric BMW i7 xDrive60 is available as a completely built-up unit (CBU), BMW India said. According to the company, the diesel variant will be introduced later. While bookings for the two models can be done at the dealerships, deliveries will begin in March 2023.
LG Electronics Q4 operating profit down 91.2% in Q4
Revenue increased 5.2 percent on-year to 21.85 trillion won, marking a quarterly high, according to the earnings guidance released by the company. But it did not release the data for net income. The operating profit was 79.5 percent lower than the average estimate,
FPIs sold for 11 consecutive days to the tune of Rs 14,300 cr
the money taken out is being invested in the underperformers of last year like China and Europe, which are doing well now. Clearly, FII money is chasing lower valuations by selling in overvalued markets like India," he added. This is the important trend in near term FPI activity. If this trend continues it might weaken the Indian market further. However, the selling will not be indiscriminate.
Air India issues show cause notices, de-rosters 4 cabin crew, 1 pilot
In a statement, Campbell Wilson, the CEO and Managing Director of Air India, said: "Air India is deeply concerned about the in-flight instances where customers have suffered due to the condemnable acts of their co-passengers on our aircraft. We regret and are pained about these experiences
Economic recovery continues to elude Sri Lanka; so does IMF bailout
What started with street fights and long queues for fuel and cooking gas in March, the tiny Indian Ocean island witnessed three Prime Ministers changing in a span of less than four months. Gotabaya Rajapaksa, the most powerful President elected with a landslide 5/6 majority in 2019, was forced to flee from the very people who chose him to be their leader.
For Indian techies, is it the end of the great American dream?
Amazon, Salesforce, Meta, Twitter, Uber and other tech companies have laid off employees as well as put a total freeze on new hirings. In some cheer for those who have lost jobs in the ongoing funding winter and global macro-economic conditions
'Revenge spending' by Chinese tourists could boost global economy
That largesse fell precipitously over the past three years as the country essentially closed its borders. But, as China prepares to reopen on Sunday, millions of tourists are poised to return to the world stage, raising hopes of a rebound for the global hospitality industry, CNN reported. Although international travel may not return immediately to pre-pandemic levels
McDonald's CEO says layoffs coming by April to reduce costs
Kempczinski told The Wall Street Journal that "some jobs that are existing today are either going to get moved or those jobs may go away." McDonald's plans to communicate its decision around layoffs by April 3. McDonald's last reported nearly 200,000 corporate staff and workers at the company-owned restaurants.
Experts predict India's emergence as 'third pole', despite GDP growth worries
"In my view, 2023 will be remembered for India's emergence as the third pole of the world," wrote Shigesaburo Okumura, Editor-in-Chief of Nikkei Asia, in a recent article. Another important factor not to be neglected is India. According to the UN, China's population last year was 1.426 billion while India's was 1.417 billion.
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