BUSINESS
'Aviation & aeronautical manufacturing sector likely to generate 1 lakh jobs'
A parliamentary standing committee on Estimates in its report tabled in the Lok Sabha on Monday noted: "At present, the direct employment in the aviation and aeronautical manufacturing sector is around 2,50,000 employees which includes pilots, cabin crew, engineer, technicians, airport staff, ground handling, cargo, retail, security, administrative and sales staff."
India may restrict Chinese mobile players from under Rs 12K market: Report
According to a Bloomberg report citing sources that came out on Monday, the country "seeks to restrict Chinese smartphone makers from selling devices cheaper than Rs 12,000 ($150) to kick-start its faltering domestic industry". The move, said the report citing people close to the matter, may push Chinese smartphone makers "out of the lower segment of the world's second-biggest mobile market".
Long, harsh funding winter ahead for unicorns: SoftBank's Masayoshi Son
In the earnings call after reporting $23.4 billion net loss in the June quarter, Son said that unicorn leaders "still believe in their valuations and they wouldn't accept that they may have to see their valuations go lower than they think". The winter for publicly-listed companies is still continuing, but a similar downturn for startups may last "longer," warned the 64-year-old executive.
5G roll out likely in a month: Centre
He said that the government is promoting the indigenously designed, developed and manufactured advanced telecom technology, and as a result, India today has a strong home-grown 5G mobile communications ecosystem. "By the end of this year, we are likely to see indigenously developed, and manufactured 5G stack, getting deployed, in rolling out 5G network in India.
Top brokerages welcome Paytm's strong Q1 results, reiterate 'buy' rating for stock
In their brokerage notes, they highlighted Paytm's strong growth in revenue and contribution margins during the quarter in addition to sharp improvement in net payment margins. In its note, Goldman Sachs said that the company "remains firmly on the path to profitability" following its Q1FY23 results. The brokerage also raised its EBITDA estimates for Paytm and believes that Patytm's Q1FY23 results should "help provide more visibility to investors" on the company's profitability target.
Ford India to sell its Gujarat plant for Rs 725.7 cr to Tatas
In a regulatory filing on Sunday, Tata Motors - the parent of Tata Passenger Electric - said the Ford India's plant in Sanand in Gujarat includes (i) entire land & buildings; (ii) Vehicle Manufacturing Plant along with machinery and equipment situated and (iii) transfer of all eligible employees of Ford India's vehicle manufacturing operations. The Ford India will continue to operate its powertrain manufacturing facility by leasing back the land and buildings of the powertrain manufacturing plant from Tata Passenger Electric.
Recent struggles are sign that Netflix is becoming a more traditional media company
Yet its recent struggles may not be the start of a downward spiral or the beginning of the end for the streaming giant. Rather, it's a sign that Netflix is becoming a more traditional media company, CNN reported. Netflix was originally valued as a Big Tech company, part of the Wall Street acronym, "FAANG", which stood for Facebook, Apple, Amazon, Netflix, and Google.
AWS, Intel empower govtech and edtech startups in India
The exclusive meet up for founders and chief experience officers (CXOs) gave them a platform to network, learn from fellow entrepreneurs, find new business and referrals and accelerate learning."This is a perfect opportunity for you all to share your challenges and expectations, and for us to get feedback to serve you better. We will provide you the technology support and credits if needed, but also go the extra mile to help you get all the support you need to succeed in this industry," said Rahul Sharma, President, Public Sector, AWS India and South Asia, AISPL.
Rs 1.62 lakh cr likely to be monetised in current FY 2022-23 under NMP: Finance Ministry
Key transactions include: Highway Toll Operate Transfer (TOT) based PPP Concessions, NHAI's Infrastructure Investment Trust (InvIT), PowerGrid InvIT, annual accruals from mineral and coal blocks auctioned in FY21-22, private investment in redevelopment of railway colonies, receipts from six airports leased on PPP mode and private investment from port terminals bid out on PPP mode, said Pankaj Chaudhary, Minister of State, Ministry of Finance said in a written reply in the Lower House.
Reliance builds technology & innovation portfolio for Green Energy foray through partnerships, acquisitions, R&D
During FY22, Reliance completed acquisitions and investments of over Rs 5,500 crore to build capabilities in New Energy. Reliance's partnerships includes companies like Ambri in the US, Faradion in the UK and The Netherlands-based Lithium Werks in the energy storage space.
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