BUSINESS
Sony, Honda announce to deliver first EVs in 2026
According to Nikkei Asia, the new electric vehicles will provide music, and other connectivity features, along with driving performance and safety. The electric cars will then go on sale in Japan in 2026, and then in Europe. In June, Sony and Honda joined hands to establish a new company that will engage in the sale of EVs and provide services for mobility.
Moped monopolist TVS Motor TVS XL's sales down
As per the numbers released by the Society of Indian Automobile Manufacturers (SIAM), the two- and three-wheeler maker TVS Motor closed last month selling 47,613 mopeds in the domestic market, down from 61,664 units sold during September 2021. Last month, the company produced 42,748 units down from 65,294 units rolled out during September 2021.
Housing IPRs overseas, funding, talent among reasons for startups moving out of India
Recently, Union Finance Minister Nirmala Sitharaman said the government can talk to the Indian startups and address their concerns so that they can stay in the country rather than moving out. There is a trend of Indian startups after their initial growth period move out to the US, Singapore and even the United Arab Emirates (UAE), industry officials said.
This is how OYO became profitable at operating level in Q1FY23, reveals Jefferies
Even though OYO faces stiff competition from traditional hotel companies, short-term vacation rental companies, other online travel agencies (including Super Apps hosting peer OTAs) and competition from search engines in attracting, engaging and retaining customers on platform, the Covid-induced downturn gave OYO an opportunity to rethink the scale, size and cost of operations and shifted its focus on refining the hotel footprints by increasing profits per hotel according to Jefferies.
Yamuna Expressway Industrial Development Authority cancels allotment of 14 group housing projects due to non-payment of dues
The authority has also forfeited an amount of more than Rs 209 crore of the developers, to whom a total of more than 15.25 lakh sqm of land was allotted. According to the information received, the group housing land allocation of two developers in 2019, three in 2021 and nine in 2022 have been cancelled.
Economic growth in India, China, Indonesia will be less affected: S&P Global Ratings
"We see a significant risk that the Russia-Ukraine military conflict drags on, exacerbating Europe's energy crisis, while at the same time interest rates in developed markets may have to rise even more sharply than in our base case to mitigate broadening inflation pressures," said Jose Perez Gorozpe, S&P Global Ratings Emerging Markets Head of Credit Research.
Subscription amount to GPF in respect of subscriber not to be less than 6% of emoluments
The department has said that the sum of the monthly subscription by a subscriber under the GPF during a financial year together with the amount of arrear subscriptions deposited in that year shall not exceed the threshold limit, which is currently Rs five lakh.
Lufthansa takes 'U-turn,' allows AigTags on flights
The airline on Twitter confirmed that "these devices are allowed on Lufthansa flights". "The German Aviation Authorities (Luftfahrtbundesamt) confirmed today, that they share our risk assessment, that tracking devices with very low battery and transmission power in checked luggage do not pose a safety risk. With that these devices are allowed on Lufthansa flights," the airline tweeted.
IMF urges policymakers to keep tight fiscal stance to help fight inflation
"Governments confront difficult trade-offs amid sharp increases in food and energy prices," Xinhua news agency quoted Vitor Gaspar, director of the IMF's fiscal affairs department, as saying in a statement on Wednesday. Policymakers must protect low-income families from large real income losses and ensure their access to food and energy, the blog noted.
India maintained post-pandemic growth momentum, says Nirmala Sitharaman
Nirmala Sitharaman said this on Wednesday while speaking in the first session of the 4th G20 Finance Ministers and Central Bank Governors meeting in Washington DC on the sidelines of the ongoing IMF-WB annual meetings 2022. She spoke on the global economy, focussing on India's economic development and policy responses, the Finance Ministry tweeted.
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