DreamFolks partners with Russia’s Grey Wall
DreamFolks collaborates with Grey Wall, an airport and lounge service aggregator in Russia, to enhance the travel experience for passengers. The partnership offers comprehensive coverage across Russia, including key locations like Moscow and St. Petersburg. Travelers can now access around 100 lounges through DreamFolks' proprietary tech platform. The alliance benefits both entities by increasing footfall at Grey Wall's lounges and providing seamless access to airport lounges for DreamFolks' clients. DreamFolks manages airport lounge benefits for top banks in India and has a market share of over 90% in the domestic lounge access market.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/OAFCHVf
Discard Income Tax Return: If you have filed your return, be it original, revised, or belated which is not yet verified, you can avail the facility to discard the same and subsequently file a fresh ITR after discarding the unverified one.
Infosys founder NR Narayana Murthy emphasizes the need for three working shifts in infrastructure and construction projects to ensure timely completion. He highlights the importance of quick decisions in infrastructure development and suggests adopting a three-shift system to boost efficiency.
Lloyd#39;s focus in the Middle East encompasses a range of technologically advanced and energy-efficient products and the company has introduced a portfolio, including a premium range of ACs, front-load and semi-automatic washing machines, frost-free and side-by-side refrigerators and LED TV range, Havells India said in a statement.
December is a crucial month for financial deadlines. Here are eight important deadlines to keep in mind, including special fixed deposit programs, Aadhaar updation, home loan offers, and more. Timely compliance is essential to take advantage of the various benefits and offers available.
Amrit Baid, who is currently associated with Region Overseas Marketing team of Mercedes-Benz Malaysia, succeeds Pradeep Srinivas who moves to Mercedes-Benz AG headquarters taking up a global role.
This article discusses the tax benefits of taking out a personal loan. Personal loans are a useful option when you need money but don't have collateral. The interest payments on personal loans can provide tax relief under Section 24(b) of the Income Tax Act. For example, if you use a personal loan for home renovation or higher education abroad, you can claim deductions on the interest payments. Additionally, if you use a personal loan for business purposes or property additions/renovations, you can also claim deductions on the interest payments. It's important to understand the terms and conditions of your personal loan before making any decisions.
IndiGo launches AI chatbot, 6Eskai, powered by GPT-4 technology, to address travellers' queries in 10 languages and offer a platform for booking tickets. Developed in-house with Microsoft, it reduces customer service agent workload by 75%. 6Eskai has 1.7 trillion parameters and mimics human behavior, responds to emotions, and adds humor. It performs various tasks including booking tickets, applying discounts, web check-ins, seat selection, answering FAQs, and connecting customers with an agent. The chatbot understands written, typed, and verbal instructions.
The US dollar is set for its biggest monthly drop in a year as traders watch for economic cues. This week, there will be a postponed OPEC+ meeting, release of inflation measures, consumer prices data, rate decision from the Reserve Bank of New Zealand, and Chinese PMI data. The dollar index slipped, reflecting expectations that US rates may have peaked. The British pound rose against the weaker dollar, while the Australian dollar and kiwi also gained strength.
An MSCI index of emerging-market equities has jumped 7.1% in November, and a similar gauge of currencies has risen 2.3%, both the biggest advance since January.
Oil minister warns OPEC+ of market turbulence and drop in demand due to high prices. Puri's remarks serve as a warning on loss of market amid shifting energy flow after Russia's invasion of Ukraine. He refrains from commenting on the group's postponed meeting but asserts India's preparedness. India's position as the world's third-largest oil consumer allows Puri to advocate for stable markets. Analysts expect OPEC+ to discuss further production cuts to support prices.
Communications are ongoing between the West Bengal government and the Adani Group regarding the Tajpur deep-sea port project. The project, headed by Gautam Adani's conglomerate, has a provisional letter of intent and is awaiting permissions from various government departments. The Ministry of Home Affairs has given conditional security clearance and the state government and Adani Group are working on it. The Adani Group's absence from the Bengal Global Business Summit raised questions about their role in the port project.
The board of Sebi on Saturday relaxed some of the guidelines for small not-for-profit organisations (NPOs) and non-government organisations (NGOs) to tap the social stock exchanges (SSEs) to raise funds, including halving the minimum fund-raising size to Rs 50 lakh. The board also approved a regulatory framework for index providers “with the objective of fostering transparency and accountability in governance and administration of financial benchmarks in the securities market,” the market regulator said in a release.
Sri Lanka is expected to approve a proposal from Sinopec, the Chinese state refiner, to build a $4.5 billion refinery. The investment will mark a breakthrough for Sinopec as it expands beyond China's borders. The refinery will add to Sinopec's recently started fuel retailing business in Sri Lanka, where it operates 150 petrol stations. It may also target markets beyond Sri Lanka and use its partnership with China Merchants Port to expand bunker fuel supply at Hambantota port.
Blod.in introduces Blod+, a transformative healthcare software and logistics platform, revolutionizing blood management and delivery in India. Blod+ ensures steady blood access for hospitals, reducing wastage significantly. Healthcare giants like CloudNine, Bewell, Sooriya Hospital, and IMAX Hospital have adopted Blod+, highlighting its integration ease. It reduces the average sourcing time for blood from 6 hours to an average of 2 hours and 7 minutes, empowering blood banks to distribute blood more efficiently. The launch follows a funding round with investments from industry leaders.
Apeda celebrates National Cashew Day by flagging off cashew nut shipments to strategic destinations, fortifying India's position as a major global cashew exporter. India holds the second-largest share in the world's cashew nut production and export. Apeda actively fosters collaborations, explores new markets, and tackles industry challenges. Indian cashew industry contributes over 15% to the global market, with top export destinations including UAE, Netherlands, Japan, and Saudi Arabia.
Bankers vying for a role on a possible initial public offering of Golden Goose showed up at pitch meetings wearing pairs of the luxury Italian shoemaker's $600 sneakers, people with knowledge of the matter said. Roughly a dozen banks competed last week in a so-called bakeoff for roles on a potential Milan listing of Golden Goose, according to the people. Bankers pitched valuations of ₹3 billion ($3.3 billion) to ₹4 billion for the company, they said.
Bangladesh expects to receive USD 1.1 billion in loans from the IMF and ADB by next month to cope with falling reserves. The country expects USD 681 million from the IMF as part of a USD 4.7 billion bailout agreed in January and another USD 400 million from the ADB. Its gross foreign exchange reserves have fallen to USD 25.16 billion in November. The high cost of living has led to street protests by opposition parties, including workers from the garments industry.
India̢۪s pet market is currently estimated to be worth Rs 6,000-7,000 crore, with the pet population of 32 million pegged to rise 11-12 percent annually.
During China's Singles Day shopping festival, Apple experienced a decline in smartphone sales, while domestic rivals Huawei and Xiaomi saw increases. Counterpoint Research data showed that Apple's smartphone sales decreased 4% year-on-year, while Huawei and Xiaomi recorded growth of 66% and 28% respectively. The price range of Apple's latest iPhone 15 model starts at 5,999 yuan, while Huawei's Mate 60 starts at 5,499 yuan and Xiaomi's Mi 14 starts at 3,999 yuan.
Pankaj Tibrewal is the executive vice president and fund manager at Kotak Mutual Fund. Tibrewal has been a part of Kotak Since 2010.
Alibaba executive Jiang Fang addressed concerns within the company by stating that the disclosure of Jack Ma's family trust plan to sell shares was a coincidence with the cancellation of the cloud unit's listing. Jiang explained that the plan to sell shares was made earlier in the year for reinvestment in agriculture and public welfare projects, and they were required to disclose it by mid-November. She emphasized that the timing was unintentional and caused a misunderstanding. Jiang also denied rumors of layoffs and stated that Ma's family trust did not sell any shares.
OpenAI has announced the return of Sam Altman as its CEO, accompanied by a revamped board that includes economist Larry Summers. The move comes after Altman was fired by the company's previous directors last week. Summers, who has experience in both Wall Street and Washington, has expressed a strong belief that artificial intelligence will impact white-collar jobs. He will likely be responsible for recruiting a new board. Summers has previously compared OpenAI's ChatGPT to transformative technologies like the printing press and electricity.
Tata Technologies' initial public offering (IPO) was fully subscribed within minutes of its opening, marking the first IPO from the Tata Group in almost two decades. Investors oversubscribed the IPO by 2.89 times, with Indian IPOs reaching new benchmarks this year. The grey market indicates a potential listing gain of approximately 70%. The IPO, priced between Rs 475-500 per share, is set to close on November 24. The equity shares of Tata Technologies are expected to be listed on both the BSE and NSE.
Promoter̢۪s personal guarantee first arose as an additional security for industrial loans made by banks and institutions in response to syphoning off funds and falsification of accounts by promoters. But over the years, it became a joke and now banks are putting in place stringent recovery systems
IREDA, the largest pure-play green energy financer in India, focuses on lending to the renewable energy sector. With a reasonable valuation, IREDA IPO should be subscribed to by long-term investors.
Understanding the impact of hard inquiries on your credit score is essential when considering loans or credit cards. Hard inquiries occur when a financial institution checks your credit report, potentially lowering your score if there are multiple inquiries within a short time. However, the effect is temporary and can be minimized by planning applications, being selective about credit, and regularly checking your credit report. Building a positive credit history through responsible credit use is crucial for future financial opportunities.
From a fiscal year perspective, the brokerage said it expects growth to accelerate to 6.5 per cent for FY25 from the 6.2 per cent it has projected for the ongoing FY24, it added.
The primary market in India is set to witness a busy week with five companies launching IPOs worth over Rs 7,000 crore. Analysts recommend considering Tata Technologies and IREDA for investment due to their growth prospects and government support for renewable energy. While the influx of IPOs may not impact liquidity in the main markets, retail investors are advised to exercise discretion based on valuation and sectors.
The BIS wants wooden tables to be able to bear 60 kg and beds to bear 110 kg, along with passing stability, strength, and durability tests. However, industry bodies argue that QCO is burdensome and should align with international standards. The government plans to bring wooden furniture under QCO from 2025. BIS argues that user behavior in India differs from other parts of the world. The BIS and industry will continue discussions to find a solution.
Indian edtech unicorn Physics Wallah has joined the growing list of startups cutting jobs due to a tough funding environment. The company claims that the layoffs are part of a performance-based evaluation process, with less than 0.8% of its workforce affected. Despite claiming profitability, investors are now pushing for sustained profitability and efficient operations. Physics Wallah plans to hire 1,000 new employees in the next six months as part of its commitment to growth.
India's economy has surpassed the $4 trillion-mark in nominal terms for the first time ever, marking a significant moment in the country's global presence. The achievement has been hailed by several BJP leaders, including Union minister Arjun Ram Meghwal and Maharashtra deputy chief minister Devendra Fadnavis, who praised the leadership of Prime Minister Modi. Billionaire Gautam Adani also congratulated India, predicting that it will become the third largest economy in the world within the next two years.
Mumbai-Chhatrapati Shivaji Maharaj International Airport (CSMIA) experienced a significant increase in cargo volumes during Diwali, handling 5600 metric tons of cargo, a rise of 2500 metric tons compared to the previous year. The e-commerce sector saw the highest increase, with an 87% year-on-year rise in volumes. Domestic outbound cargo increased by 64%, while domestic inbound cargo increased by 36%, reflecting the growing popularity of online shopping. The top international destination for cargo shipments was London, while domestically, Delhi was the top destination.
Three US lawmakers are calling for greater scrutiny of worker safety at Elon Musk's SpaceX following a Reuters investigation that documented hundreds of injuries at the rocket company's US manufacturing and launch sites. The November 10 Reuters report detailed at least 600 previously unreported workplace injuries since 2014 at SpaceX including crushed limbs, amputations, head injuries and one death. The Reuters report found that injury rates at three major SpaceX industrial facilities in Texas and California far exceeded the average for the space industry.
The Indian government has approved investments worth 30 billion Indian rupees ($360.4 million) in the IT hardware sector under its flagship manufacturing incentives scheme. Applications from 27 companies have been approved, information technology minister Ashwini Vaishnaw said on Saturday. A total of 40 applications had been submitted. Dell, Hewlett Packard, Foxconn unit Rising Star and Flextronics are among those granted approval, according to a government release.
Twenty-seven companies, including industry leaders Dell, HP, Foxconn, and Lenovo, have received approval for the new Production-Linked Incentive (PLI) scheme in IT hardware, signaling India's drive to become a global hub for advanced manufacturing. The move comes as the country actively seeks to attract IT hardware players through favorable policies. These companies are expected to invest Rs 3,000 crore, positioning India as a major force in manufacturing PCs, servers, laptops, and tablets.
X Corp, formerly known as Twitter, will file a lawsuit against Media Matters and those who attacked social media platform X, Elon Musk said on Saturday in a post on the platform, soon after major US companies paused their advertisements on the site. "The split second court opens on Monday, X Corp will be filing a thermonuclear lawsuit against Media Matters and all those who colluded in this fraudulent attack on our company," Musk wrote in a post on X, without naming any other parties.
President Droupadi Murmu said on Friday that the indigenous industries have a huge role in building a self-reliant, competitive, and robust economy. She said the government has taken several policy initiatives in the last few years and brought in reforms to encourage indigenous design, development and manufacturing of defence equipment.
Embracing rigorous governance, continuous education, and vigilant oversight is not just a corporate mandate but a societal imperative. It is a commitment to ensuring that the pillars of our economy are fortified against the insidious challenges of misconduct
Companies spend two percent of budgets on learning. The Board seems to be asking, what and where is the return on investment? A roadmap is firstly to redefine impact, and then to link impact to hard business outcomes and key performance indicators
In the RBI's November Bulletin, economists Yuvraj Kashyap, Avnish Kumar, Anand Prakash, and Shubhangi Latey noted that the pace of increase in lending rates has outpaced the increase in deposit rates.
A report by an online travel portal reveals that insurance, seat selection, food, baggage, and lounge are the top flight ancillary requests made by passengers. Airfares and hotel costs are the most important factors in travel planning. The report also highlights that travellers are highly engaged on mobile devices, with many using AI chatbots. The report forecasts a positive outlook for travel demand in 2024, with a significant increase in the number of trips. Cultural experiences, weather, food, and overall vibe are the key factors influencing destination choice.
Gensol Engineering Ltd has been selected as the lowest bidder for NHPC's Kargil Green Hydrogen Mobility Station EPC Project in Ladakh. The project involves developing a 500-kW solar power project that will provide energy to the hydrogen refuelling station. Gensol will be responsible for the installation, storage, and dispensing facilities, as well as the necessary civil and electrical infrastructure. The project is expected to be completed within 12 months.
Japanese brewer Asahi Group Holdings has announced that shareholders plan to sell $1.3 billion worth of stock to overseas investors, as part of the ongoing trend of unwinding cross-shareholdings among Japanese firms. Eight Japanese banks, including Nomura Holdings and Sumitomo Mitsui Financial Group, will sell a total of 33.5 million shares in Asahi through a secondary offering in overseas markets. The move is aimed at increasing liquidity in Asahi's shares and revitalizing capital markets.
Nerivio is a drug-free wearable and intended for acute and prophylactic (preventive) migraine in patients aged 12 years and above
Addressing the Indo-Pacific Regional Dialogue, Sitharaman said India's economic growth is estimated to be just under 7 per cent during the year, the highest among major economies, despite global headwinds. "Even according to the usually conservative estimates of the IMF, the Indian economy is set to emerge as the world's third largest economy by 2027, hopping over Japan and Germany, as its GDP crosses the $5 trillion level. By 2047, India aspires to be a developed economy," she said.
French telecoms provider Iliad reported a 5.1% increase in nine-month core profit, driven by strong subscription growth in France and Italy. The company's earnings before interest, taxes, depreciation and amortisation rose to 2.55 billion euros in the January-September period. Iliad's brand in France, Free, gained 324,000 new subscribers in Q3, while in Italy it gained 382,000 new subscribers.
Insurance companies need to be vigilant about incidents of mis-selling, according to Insurance Ombudsman Sunita Sharma. She emphasized the importance of customer satisfaction and urged companies to avoid mis-selling products. Sharma also highlighted the need for insurers to provide Self Contained Notes (SCN) within the stipulated time frame and to review the role of Third Party Administrators (TPAs). In the 2022-23 period, the Delhi Insurance Ombudsman office resolved all 5,257 complaints it received.
Indian manufacturing has accelerated through the second quarter of 2023-24 and is likely to continue for the subsequent quarters of the financial year 2023-24, notwithstanding the slowdown in developed nations, industry body FICCI's latest quarterly survey revealed. The existing average capacity utilization in the Indian manufacturing sector is around 74 per cent, slightly higher than the 73 per cent recorded during the previous quarters. It sought responses from over 380 manufacturing units from both the large and SME segments with a combined annual turnover of over Rs 4.88 lakh crores.
Social Plugin