In another tweet, Gandhi also expressed concern over frequent emergency landings of flights due to one snag or another at a time when domestic air fares have almost doubled.
India's exports may have touched an all-time high of $422 billion in 2021-22 but recession in key western markets and geo-political crisis due to the Russia-Ukraine war are expected to impact the growth of the country's outbound shipments in 2023. All the global trade promoting factors like political stability, movement of goods, adequate availability of containers and shipping lines, demand, stable currency and smooth banking systems are in disarray. Adding to the woes, COVID cases have again started rising in countries like China, Japan, South Korea and the US.
Indian companies lost around $53 million (about Rs 328 crore) due to phishing scams with the country facing over 3,750 attacks in July-September this year, making it the fourth most attacked nation globally.
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
A young couple sharing a laugh - in the living room over a Polish joke book, on the beach, in the rain - with the tagline, "Made for each other", hung from billboards at prominent street corners from the 1960s to the 1990s. It was a campaign for one of the largest selling cigarette brands in India, Wills (Navy Cut) from the ITC stable, that resonated with a generation of smokers and non-smokers alike till the curtains came down on tobacco advertising in 2004. As we prepare to welcome 2024, ITC has metamorphosed from a tobacco giant into a conglomerate straddling multiple large-sized businesses. In the mind space of Gen Z or millennials, the company represents a gamut of branded products - from frozen food (ITC Master Chef), noodles (YiPPee!), and cookies (Sunfeast) to snacks (Bingo!) and notebooks (Classmate), and so on and so forth.
Experts expect a net loss of Rs 26.7 billion for IndiGo and Rs 10.1 billion for SpiceJet in Q1FY21 driven by low traffic volume, low fleet utilisation and poor coverage of fixed costs.
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
Wipro's clients currently include over 100 US payers, healthcare providers, and public health agencies.
It has been the preferred visa for Indian IT companies and has helped them keep costs down and gain a margin advantage over multinational players by sending engineers to the US.
The depreciation in rupee may pose a problem for students who have taken loans from Indian lenders.
Russia's war on Ukraine has sent steel prices soaring to its highest levels in the domestic market since November 2021. But there is little cheer in the industry. That's because input costs are spiralling out of control, leaving the big boys nearly as high and dry as the small, medium and secondary steel producers. Russia and Ukraine are major providers of steel and raw materials to the world.
Koo -- the made-in-India rival of Twitter -- will not charge users for a verification badge, its co-founder and CEO Aprameya Radhakrishna said as he took on the larger rival for allegedly first creating bots and now charging users for verification. Koo, which allows users to express views in Indian languages, has already crossed 50 million downloads and is now flying into the rival's nest, starting a campaign on Twitter by making itself prominently visible on verified handles and offering them better deals on its platform at no cost. Since taking over Twitter, billionaire Elon Musk has set in motion massive changes, sacking employees and talking of levying a $8 charge for 'verified' handles.
Coordination between defence and civilian authorities has freed up airspace for commercial airlines in India, resulting in routes becoming shorter and costs coming down, apart from mitigating pollution. "Due to various restrictions of the military, only about 58 per cent of the Indian airspace was being utilised. It is close to 70 per cent now," said an official of the Airports Authority of India (AAI). Officials of the AAI said to date 119 routes had been shortened. Sources said since December 2020 the cumulative savings of airlines had been close to Rs 200 crore while there was a reduction in emission of around 45,000 tonnes of carbon.
Tiger Global-backed Koo, an Indian alternative to Twitter, has laid off 30 per cent of its workforce of 260 employees in the last year as the budding firm, like many other start-ups in the country, battles global headwinds. "It's important for businesses of all sizes to adopt efficient and conservative approaches to see this period through. "In line with this, we have acted on some role redundancies by letting go of 30 per cent of our workforce over the course of the year," said a Koo spokesperson.
'As long as businesses do not consider cyber recovery an integral part of their enterprise IT, they remain greatly vulnerable.'
This season, the nature of the advertising game has changed dramatically with TV and digital rights going to different entities.
The five key components, which are indispensable for any smartphone, cost more than Rs 2,000 even for a budget 3G-enabled 3.5-inch handset.
The Reserve Bank on Wednesday projected inflation to come down below the upper threshold level of 6 per cent by March quarter of the current fiscal. RBI Governor Shaktikanta Das said the central bank will keep 'Arjuna's eye' (focus) on the evolving inflation dynamics and will remain 'nimble and flexible' to deal with the price situation. Global commodity prices, including crude oil, have undergone some downward correction, but uncertainty continues to surround the near-term outlook in view of the prolonging geo-political hostilities. Moreover, the resurgence in domestic services sector activity could also lead to price increases, especially as firms pass on input costs.
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
Minister of State for Defence Ajay Bhatt said the major defence equipment that were imported included helicopters, aircraft radars, rockets, guns, assault rifles, missiles and ammunition.
Lauding India's ambitious space programme, The New York Times has said the country, currently witnessing an 'explosive' growth in space-tech start-ups, is set to 'transform the planet's connection to the final frontier' and can emerge as a 'counterweight' to China.
Google will lay off 12,000 jobs across the globe, its CEO Sundar Pichai announced on Friday, becoming the latest tech giant after Microsoft, Facebook and Amazon to retrench staff en mass amid the global economic downturn. In an email to employees, the Indian-origin CEO said: "I have some difficult news to share. We've decided to reduce our workforce by approximately 12,000 roles." Pichai said the layoffs at Google were carried out after a "rigorous review" of its operations.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
'... as has been happening in the last three weeks, then the foreign exchange reserves will not be comfortable to ensure that the rupee does not fall drastically.'
'As the Indian economy continues to expand over the next three years, mid- and small-caps should do well as they have higher exposure to the domestic economy than large-caps.'
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
It is a trend that economists and researchers say might continue. The data shows the share of this age group in the net EPF accounts created - a proxy for net new formal jobs created - fell from 37.9 per cent in 2018-19 to 24.1 per cent in 2021-22.
Elevated food price-led inflation could become a sore point for markets, which they seem to be ignoring at current levels, observe analysts. Retail inflation in India - as measured by the Consumer Price Index (CPI) - came in at a three-month high of 6.52 per cent in January 2023, compared with 5.72 per cent in December and 5.88 per cent in November 2022. The inflation print for February, according to Madan Sabnavis, chief economist at Bank of Baroda, will be critical for the Reserve Bank of India's monetary policy committee.
There are millions of Indian women who avoid the responsibility of managing their finances due to a variety of reasons, including cultural and social conditioning.
Employers are now looking to hire professionals who can demonstrate their skills rather than reel off a catalogue of undirected theoretical qualifications.
"Protectionism is not new. The attention that is given is because there is a political and emotional element to it." TCS COO N G Subramaniam on why his company is optimistic despite global headwinds.
The Indian office real estate market, which had recovered significantly in early 2022, began to slow down in the latter half due to macroeconomic problems in the developed world. Rental yields are likely to be stable at best in FY24.
As Google evaluates its response to two recent penalties slapped by the Competition Commission of India (CCI), here is a look at the app economy. Apps are bread and butter for mobile operating systems. India ranks second in the number of mobile downloads, with nearly 27 billion downloads in 2021, according to Deloitte. Accounting for 11.6 per cent of global app downloads, the Indian smartphone user spends over 4 hours a day on apps.
India's GDP expanded 13.5 per cent in the April-June quarter, the quickest pace in a year, to retain the world's fastest growing economy tag but rising interest costs and the looming threat of a recession in major world economies could slow the momentum in the coming quarters.
The CBI had registered a preliminary enquiry in 2016 which was later converted into a regular case, they added.
Fund mobilisation by companies through equity and debt routes has dropped 20 per cent in 2022 to nearly Rs 11 lakh crore, as exuberance dwindled this year due to expensive credit avenues and volatile markets. The first half of 2023 could continue to remain challenging. The year 2021 was extraordinary for fundraising from the equity and debt routes, while 2022 has seen a slowdown in capital raising owing to elevated volatility provoked by unprecedented inflation globally and the Russia-Ukraine war.
'When I talk to my colleagues in the Railways, they say 'aadmi toh bohot hai, lekin matlab ka aadmi ek bhi nahi hai (the Railways has a bloated workforce, but doesn't have employees with have the skillsets that matter)'.'
'We have to make people aware that the Constitution belongs to us.' 'We are the people who decide who will govern on our behalf.'
US bank Citigroup on Wednesday announced the sale of its Indian consumer banking businesses, including credit cards, retail banking, wealth management and consumer loans, to private lender Axis Bank for Rs 12,325 crore, as part of its plans to exit retail operations in 13 markets.
Street gave a thumbs down to Aditya Birla Fashion and Retail (ABFRL)-TCNS Clothing deal as analysts flagged near-term profitability risks for ABFRL with its latest acquisition. At the bourses, shares of the Aditya Birla group company tumbled 6.2 per cent in the intra-day trade, before settling 3.27 per cent lower at R 207.2. Those of TCNS, meanwhile, plunged 20 per cent to end at Rs 416.64.
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