BUSINESS
Ukraine conflict impact: Asia-Pacific airlines' cargo volumes dip 10.7% in Sep
Latest data by the International Air Transport Association (IATA) showed that airlines in the region continue to be impacted by the conflict in Ukraine, labour shortages, and lower levels of trade and manufacturing activity due to Omicron-related restrictions in China. It said that available capacity in the region increased by 2.8 per cent compared to 2021.
54% Indians consumers concerned about EV quality, not range: Report
"For long, limited EV charging infrastructure and range anxiety have been construed as barriers for EV adoption. However, automotive OEMs have already designed EVs with a sufficient range of up to 200 kms or more," said John Martin, analyst, smart mobility practice, CMR.
Government releases revenue deficit grant worth Rs 7,183 cr to 14 states
With this, the total RDG released to states so far in the current financial year has gone up to Rs 57,467.33 crore. This was the eighth instalment of the grant for the current fiscal released to states.In 2022-23, the states will get a total RDG of Rs 86,201 crore.
Finance minister lauds state-owned banks for recording profits
In a series of tweets, she said, "The continuous efforts of our government for reducing the NPAs and further strengthening the health of PSBs are now showing tangible results. All 12 PSBs declared net profit of Rs 25,685 cr in Q2FY23". She said that the combined net profits of public sector banks recorded a year-on-year growth of 50 per cent.
CarDekho to infuse $100 million in its fintech subsidiary Rupyy
Rupyy crossed Rs 500 crore of monthly disbursal volume of car loans in September. The brand plans to hit Rs 10,000 crore annualised disbursals by March 2023.
Foxconn woos fleeing workers with $70 subsidy after iPhone production hi
Foxconn called the 'care and love' subsidy a 'pre-hiring' offer as workers would not be able to return until the seven-day lockdown is lifted this week, reports South China Morning Post.
Estimated 32 lakh weddings till Dec 14 with a trade of Rs 3.75 lakh cr
During this period, around 32 lakh weddings will be solemnised across the country with a massive flow of about Rs 3.75 lakh crore by way of wedding purchasing and obtaining various services in the business being conducted by trading community, as per a survey conducted by the CAIT Research & Trade Development Society.
upGrad to invest $30 mn to launch 10 global campuses next year
Under a new brand name UGDX', the company said it will open three campuses in the US (the San Francisco unit goes live in January), five in India (Delhi and Chennai) and one each in Singapore and Middle-East.
'Banks increase deposit rates, risk premia on loans not factored in'
In a research report Dr Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI said: "A back of envelope estimate suggests that the core funding cost of the banking system is currently at around 6.2 per cent, while the reverse repo rate is at 5.65 per cent."
Now Meta plans to lay off 'thousands' of employees this week: Report
The "large-scale" job cuts, to begin from Wednesday, could affect "thousands" of workers, according to a report from The Wall Street Journal. "Social-media company's planned cuts expected to affect many thousands of its workforce. The planned layoffs would be the first broad head-count reductions to occur in the company's 18-year history," the report, citing sources, said late on Sunday.
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