New Delhi According to ratings agency ICRA, India’s aviation industry is anticipated to sustain a net loss of ₹30-40 billion (₹3,000-4,000 crore) this fiscal year, similar to losses reported in FY24. Supply chain disruptions, engine problems, and a shortage of crew and pilots are just a few of the industry’s issues, all of which are…
Adani Green Energy Limited (AGEL), a part of the Adani Group, has shown its dedication to renewable energy by signing a substantial 20-year power purchase agreement (PPA) with Sri Lanka to build two wind projects. A major contract for 484 MW of projects in Mannar and Pooneryn has been completed by the Sri Lankan government,…
Musk expresses his joy at Prime Minister Modi’s electoral triumph and announces bold ambitions to invest heavily in India. Elon Musk, CEO of SpaceX and Tesla, has congratulated Narendra Modi, the prime minister of India, on his record-breaking re-election. X is Musk’s new social media platform; he used it to express his enthusiasm for the…
Mumbai, — The Reserve Bank of India (RBI) has decided to retain the policy repo rate at 6.5% for the eighth consecutive meeting, indicating a cautious attitude on inflation. This decision came after the RBI’s Monetary Policy Committee (MPC) met for the first time after the Lok Sabha election results were released. RBI Governor Shaktikanta…
Mumbai, On Friday, shares of One97 Communications, the parent company of fintech behemoth Paytm, rose by 10% on the BSE. This significant increase follows a weak market performance earlier in the week and represents a larger recovery effort within the organization. The Paytm stock, which fell sharply on June 4 and 5 following the Lok…
Simpl, a well-known Buy Now, Pay Later (BNPL) firm, has announced its second wave of layoffs in a month, affecting around 30 people. This move followed a May layoff of approximately 160 employees, which mostly targeted high-paying positions in engineering and product areas. Simpl is going through a difficult period, highlighted by significant capital burn…
New Delhi, [India], June 5 : The United Nations Educational, Scientific and Cultural Organization (UNESCO) South Asia Regional Office, in collaboration with the Ministry of Electronics and Information Technology (MeitY), hosted a National Stakeholder Workshop on Safe, Trusted, and Ethical AI in New Delhi. This pivotal event comes on the heels of the government’s recent…
The Securities and Exchange Board of India (Sebi) has provided significant relief to Foreign Portfolio Investors (FPIs) by relaxing the timelines for reporting and disclosing material changes. This move is set to streamline the process for FPIs, ensuring better compliance and reducing the regulatory burden. Previously, FPIs were required to disclose many material changes as…
Microsoft has announced a new round of layoffs, affecting more than 1,000 employees, as part of a larger attempt to reorganize operations and focus on critical growth areas. The majority of these job layoffs are in the company’s Strategic Missions and Technologies division, which sells Microsoft’s cloud software and server rentals to specialist industries such…
In a historic move to ensure responsible advertising, the Ministry of Information and Broadcasting (MIB) stated that marketers and advertising agencies must now submit a ‘self-declaration certificate’ before publishing or broadcasting any commercials. This directive follows a Supreme Court judgment issued on May 7, 2024, in response to the Indian Medical Association vs. Union of…
