BUSINESS
Alliance Air becomes Centre's independent business unit
Alliance Air was an esrtwhile part of Air India prior to the latter's divestment. At present, it is operated as a division under the Air India Asset Holdings Pvt Ltd (AIAHL). It was founded in 1996 as a wholly-owned subsidiary of then Indian Airlines, which later merged with Air India. The airline mainly operates on domestic regional routes as part of the government's Regional Connectivity Scheme.
Twitter considering 'poison pill' strategy to fight back Elon Musk
According to The Information, Twitter's board of directors view Musk's hostile takeover offer as "unwelcome", and are ready to "fight the bid". The "poison pill" strategy is used by a firm to prevent or discourage a potential hostile takeover. It allows existing shareholders the right to purchase additional shares at a discount, effectively diluting the ownership interest of a new and hostile party.
Putin eyes south, east as Russian energy supplies to west wane
Putin ordered to increase supplies of energy to Russian consumers, adding that price reductions are possible in order to stimulate domestic demand, Xinhua news agency reported. He also instructed the government to boost the development of deep processing of oil and gas as quickly as possible.
IMF to downgrade forecast for over 140 economies amid Russia-Ukraine conflict
"To put it simply: we are facing a crisis on top of a crisis," IMF Managing Director Kristalina Georgieva said on Thursday in a curtain raiser speech ahead of the 2022 spring meetings of the IMF and the World Bank scheduled next week. "In the past seven weeks, the world has experienced a second major crisis -- a war on top of a pandemic. This risks eroding much of the progress we have made over the past two years, climbing back from Covid," Georgieva added.
Central, state intelligence probing cyber-attack on OIL network
The hacker has demanded $75,00,000 as a ransom. "The Central and Assam's intelligence agencies are now investigating the major cyber-attack in the field headquarters of OIL," a senior OIL official told IANS, refusing to disclose further details. OIL's Manager, Security, Sachin Kumar, had filed an FIR with the police on Tuesday night, complaining that their server, network, and other related services.
PLI scheme boosts production of over 35 products in India: Mandaviya
PLI scheme has led to initiate production of more than 35 products in India, said Union Health Minister Mansukh Mandaviya on Thursday. Mandaviya said the pharmaceutical industry has a vital role to play in realising the vision of 'Atmanirbhar Bharat'.
Alliance Air no longer a subsidiary: Air India
In a tweet, the airline said: "Passengers holding tickets of Air India with a 4-digit flight number starting wiith '9' or 3-digit flight number starting with '9I' may please be informed that these bookings belong to Alliance Air. "Bookings or Queries related to Alliance Air will not be handled by Air India from 15 April, 2022."
Ashneer saga has no impact on our growth: BharatPe
The company had $300 million in revenue at the end of FY23, and exited March with around $100 million in sales. "We have no immediate plans to raise capital. We exited March at around $16 billion in annual total payment value (TPV) and aim to have payments TPV of $30 billion by March 2023," the company said.
Twitter board to evaluate 'unsolicited, non-binding' Musk $43 bn offer
Earlier in the day, Musk made an offer to buy 100 per cent of Twitter at $54.20 per share, a 54 per cent premium over the closing price of Twitter on January 28, 2022, the trading day before Musk began investing in the company. This is a 38 per cent premium over the closing price of Twitter on April 1, 2022, the trading day before Musk's investment in Twitter was publicly announced.
Crisis in Ukraine could slash global trade growth by half in 2022: WTO
The ongoing conflict between Russia and Ukraine has dealt a severe blow to the global economy, reducing projected global trade growth for 2022 from the 4.7 per cent predicted last October to between 2.4 per cent and 3 per cent.
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