BUSINESS
Global economy faces confluence of challenges: Nirmala Sitharaman
While addressing the closing session of the G20 Finance Ministers and Central Banks Governors (G20FMCBG) meeting in Washington D.C., on Thursday, she said that India views the hosting of the G20 Presidency as an opportunity as well as a responsibility.
Infosys posts Rs 6,021 crore PAT, announces buyback of shares
Approving the accounts, the company Board declared an interim dividend of Rs 16.50 per share. According to Infosys, it had posted a consolidated revenue of Rs 36,538 crore for the period ended September 30, 2022 (Rs29,602 crore -Q2FY22) and a net profit of Rs 6,021 crore (Rs 5,421 crore).
US core inflation rises to 40-year high
The US Labour Department said on Thursday that core inflation, excluding food and energy prices, rose 6.6 per cent in September from the corresponding period of last year. It was also up from 6.3 per cent in August, making it the highest increase since 1982. On a monthly basis, the core retail inflation rose 0.6 per cent in September, according to official data.
India a bright spot on otherwise dark horizon: IMF chief
She was speaking on the fourth day of the IMF and World Bank Annual Meetings at the IMF headqarters here. "Most importantly, this growth is underpinned by structural reforms," Kristalina Georgieva told reporters after the meeting. She was replying to a question on her expectations from India just days before it takes over the presidency of G20.
CWC vs Adani Ports SEZ: SC sets aside Gujarat HC order directing CWC to seek waiver as SEZ compliant
A bench comprising Justices B.R. Gavai and C.T. Ravikumar said: "We are... of the considered view that the impugned judgment and order of the High Court dated 30th June 2021 is not sustainable in law." The top court said the high court forced the MD of the CWC, which is a statutory body, to accept the first two conditions and leave the third condition to be settled mutually through mediation.
Singapore Airlines in discussions with Tatas over integration of Vistara, Air India
"SIA is currently in confidential discussions with Tata to explore a potential transaction in relation to the securities of Vistara and Air India Ltd, a subsidiary of Tata (the 'Potential Transaction'). The discussions seek to deepen the existing partnership between SIA and Tata, and may include a potential integration of Vistara and Air India," said the Singapore airline in a statement on Thursday.
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.
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