BUSINESS
Thai Airways to resume operations in Telangana from Oct 30
The Federation of Telangana Chambers of Commerce and Industry (FTCCI) had represented to the Thai government in the month of April to resume passenger and cargo operations which were suspended during Covid .
Apple sets new revenue record in India, logs double-digit growth
Apple posted a September quarter record revenue of $90.1 billion globally, up 8 per cent year over year. Annual revenue was $394.3 billion, also up 8 per cent year over year.
Lufthansa revenues almost doubles year-on-year
Adjusted earnings before interest and taxes (EBIT) rose to 1.1 billion euros and were more than four times as high as in the same period last year,reports Xinhua news agency citing the carrier as saying on Thursday. In the previous quarter, Lufthansa had made a profit for the first time since the start of the Covid-19 pandemic.
RBI's monetary policy committee to meet on Nov 3 over inflationary concerns
The MPC's off-cycle meeting has been convened as the central bank has failed to curb inflation, which has remained beyond its tolerance limit of 2 to 6 per cent for the past nine months. Consumer Price Index (CPI) based retail inflation rose to 7.41 percent in September. Retail inflation has remained beyond RBI's tolerance limit for the last three quarters.
Russia makes veiled threat against Elon Musk's Starlink satellites
Speaking at a space event at the UN on Wednesday, Russian representative Konstantin Vorontsov expressed concern about the "extremely dangerous" trend that "came to the forefront during the conflict in Ukraine." The US and its allies have been using "elements of the civilian space infrastructure, including commercial, for military purposes."
Swiggy denies exodus of high-end cafes, restaurants on Dineout
According to them, restaurants like Smoke House Deli, Social, The Beer Cafe and Mamagoto have deregistered themselves from most of the online food aggregator platforms, not just Swiggy. Your Story publication earlier reported, quoting from the National Restaurants Association of India (NRAI) sources, that at least 400 brands and more than 900 dining outlets across 13 cities in the country.
Aim to achieve $100 billion textile exports in 5-6 years: Piyush Goyal
Goyal was virtually addressing a meeting of the members of Export Promotion Councils. He said that textile manufacturers should start securing cotton to meet their demands. "All those involved with the cotton industry should meet to discuss the strategy to ensure traceability of cotton and better value of the cotton products," Goyal said.
Tamilnad Mercantile Bank logs Rs 496.51 crore net in H1FY23
For the period under review, the bank's net interest income stood at Rs 1,032.57 crore (Rs 874.75 crore H1FY22). During the first half of FY23 TMB did a total business of Rs 78,013.18 crore (deposits Rs 43,136.65 crore, advances Rs 34,876.53 crore) as against the previous year corresponding period's figure of Rs 72,619.87 crore (deposits Rs 41,022.21 crore, advances Rs 31,597.66 crore).
India looking to process and resell Russian wheat to boost its own exports
This is reportedly seen as a way for India to increase its own exports, RT reported. New Delhi previously bought wheat from Ukraine, Russia, and Australia but has currently stopped importing grain, according to the source. The decision to halt the purchases was said to have nothing to do with the ongoing military conflict.
Udaan raises $120 million in funding winter, plans IPO in 12-18 months
"The journey of right business design and unit economics has translated into over 60 per cent reduction in burn. Continued focus on customer-first thinking and initiatives on strengthening our value proposition for them have resulted in monthly buyer repeat rates increasing by more than 500 bps in the last 2 quarters," he added.
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