BUSINESS
2,613 significant tech snags reported by various airlines in last 5 years: Government
According to Ministry of Civil Aviation data, Indigo airline topped the list with 885 such incidents while Spicejet and Vistara reported 691 and 444 technical snag related occurrences, respectively between the years 2018 and 2022. While Air India (Fleet A) reported 361 such incidents, Air India (Fleet B) reported 38 technical snags.
NATO boss tipped to lead IMF: Report
Stoltenberg was set to leave NATO in September, but his term was extended into late 2023 amid the ongoing conflict in Ukraine. With no successor for the post in clear sight, Stoltenberg may end up having his tenure extended even beyond 2023 - potentially for another year - multiple media reports have suggested, RT reported.
High-pitched argument between passenger & crew member of IndiGo flight
The argument started on the airline's Istanbul-Delhi flight over food. Reacting to the issue, in a statement, the airline said that they were looking into the incident and assured that "customers' comfort has always been our top priority.Sources said that aviation regulator DGCA was looking into the matter.About the incident, a passenger in the flight Er. Gurpreet Singh Hans said on Twitter he unfortunately booked a ticket on the IndiGo flight.
Jio completes acquisition of Reliance Infratel, pays Rs 3,720 cr to lenders
According to sources, the company has deposited Rs 3,720 crore in the escrow account of the State Bank of India (SBI). In November, the National Company Law Tribunal (NCLT) had given its approval to Jio for the acquisition of Reliance Infratel (RITL), an RCOM subsidiary that houses the tower and fibre assets
Look within for smoother transition, experts say on CEO succession
Experts are of the view that internal candidates should be given an opportunity to lead their companies. In the CEO search and selection process such identified candidates should be given the first opportunity as they have the experience and a ringside view of the organisation's path forward.
Aviation industry Rs 11,658 cr loss in 2021-22
The losses to the industry were primarily because of the Covid-induced disruption across the globe; currency depreciation (USD/INR); high operating cost environment, especially due to increase in ATF prices which constitute a major portion of the operational cost of airline; increase in crude oil prices in international market; VAT; excise duty; and the ongoing Ukraine-Russia war.
Meta purges 23 mn bad pieces of content on FB, Instagram in India in Nov
Between November 1-30, Facebook received 889 reports through the Indian grievance mechanism, and the company said it provided tools for users to resolve their issues in 511 cases.These include pre-established channels to report content for specific violations, self-remediation flows where they can download their data, avenues to address account hacked issues etc, said Meta
India looks at expanding rupee trade to make currency stronger
Besides cash-starved Sri Lanka is also likely to start using the Indian currency for bilateral trade.An analyst working for an industry body noted that as many countries look at setting up alternative supply chains in India, there is an "openness in accepting the rupee trade."
CAG report discloses irregularities in corporation tax assessments of high value cases
The report of the Comptroller and Auditor General on Direct Taxes of the Union Government for the year ended March 2021, tabled in Parliament on Wednesday, contains 467 audit observations having a tax effect of Rs 8,413.10 crore.
Reliance Retail Ventures Ltd. set to acquire METRO Cash and Carry India in Rs 2,850 crore deal
METRO India started operations in India in 2003 as the first company to introduce cash-and-carry business format in the country and currently operates 31 large format stores across 21 cities with nearly 3,500 employees. The multi-channel B2B cash and carry wholesaler has a reach to more than 3 million B2B customers in India, of which 1 million are frequently buying customers, through its store network and e-B2B app.
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