BUSINESS
SpiceJet places nearly 80 pilots on leave without pay for 3 months
"This measure, which is in line with SpiceJet's policy of not retrenching any employee which the airline steadfastly followed even during the peak of the Covid pandemic, will help rationalise the pilot strength vis-a-vis the aircraft fleet," said a Spicejet spokesperson. SpiceJet had, in 2019, inducted more than 30 aircraft following the grounding of the 737 MAX aircraft.
RBI Governor stresses fintech's role as a force multiplier
"Technology, innovation and fintech are working in tandem and contributing to the dynamism of the sector. In our journey towards higher level of sustainable development and financial inclusion, these forces morphed into force multipliers," Das said.
India's fintech market to reach $1 trillion by 2030: Chief Economic Advisor
Speaking at the 'Global Fintech Fest 2022' (GFF 2022), he noted that a major shift towards a more equitable distribution of investment across sectors including insurtech and wealthech, etc, has started taking place."We are talking about bridging the digital divide and the economic divide. Therefore the focus now is on how the combination of technology and finance is enabling access to finance and access to opportunities," Nageswaran told the gathering.
Meta ties up with Salesforce to boost businesses on WhatsApp
"More and more people prefer to communicate with businesses over text. That's why we launched our Cloud API earlier this year and are now partnering with Salesforce," Mark Zuckerberg said in a Facebook post. The new integration will help businesses build experiences to chat with customers on WhatsApp, while being able to manage communication directly from the Salesforce platform.
Russia ready to supply petrol to Pakistan on deferred payments
This major development comes after last week's meetings between Pakistan Prime Minister Shehbaz Sharif and Russian President Vladimir Putin on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Samarkand, Daily Jang reported.
Future of financing in India is through digitisation: Nirmala Sitharaman
Addressing the FICCI LEADS summit here, Finance Minister Nirmala Sitharaman said that UPI is aiming to achieve a target of 1 billion transactions in a day in the next five years. Today, even if there is no brick or mortar bank branches in rural areas, people are able to access banking facilities due to digitisation of financial services, Sitharaman added.
Rupee ends almost flat at 79.75 against US dollar
At the interbank foreign exchange market, rupee ended at 79.75, as against 79.77 on the previous trading session. "In the last two days, the rupee consolidated in the range of 79.80 to 79.55. RBI's intervention and dollar inflows remain the main driver of the rupee's outperformance in the last few days," Dilip Parmar, Research Analyst, HDFC Securities, said.
BYJU's is a blockbuster like 'Brahmastra', says co-founder Divya Gokulnath
In a LinkedIn post, Divya Gokulnath said that she hasn't seen "Brahmastra" yet, "but I do happen to know BYJU'S results because, as its Director, I was involved in its making". She mentioned that while BYJU's reported Rs 4,500 crore loss in FY21 due to accounting change, (or Rs 12.5 crore loss daily), "we made Rs 27 crore in revenue per day in FY22".
India to see record smartphone sales worth Rs 61,000 cr this festive season
E-commerce channels are expected to capture 61 per cent of the overall sales, down from 66 per cent last year, according to Counterpoint Research. The smartphone retail average selling price (ASP) during the festive season will grow 12 per cent to reach its highest ever at $242, although the unit sales may decline by 9 per cent (on-year).
Indices end higher; Sensex up over 550 points
At close, Sensex ended 578.51 points or 0.98 per cent at 59,719.74, and Nifty ended 194.00 points or 1.10 per cent up at 17,816.25. About 2,109 shares have advanced, 1,362 shares have declined and 131 shares have remained unchanged. Sun Pharma, Dr Reddy's Labs, Tata Steel, IndusInd Bank, Titan Company were major gainers on the Sensex today.
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