BUSINESS
Healthy Prospects: IndiGo bullish on festive season, sees demand growth
Besides, the airline believes that economic rebound, weaning impact of Covid 2.0 and accelerated vaccination drive will further complement the traffic growth. According to Ronojoy Dutta, Wholetime Director and CEO of India's largest airline in terms of market share said: "My hopes for the festive season are very bullish and I think we will have a very good holiday season."
Petrol, diesel prices remain steady, provide relief to consumers
The oil marketing companies (OMCs) on Thursday kept pump prices of auto fuels petrol and diesel unchanged, the 18th consecutive day of no revision, as they preferred to maintain their watch prices on global oil situation before making any revision in prices.
Markets open on a positive note
The Sensex of the BSE opened at 59,358.18 points and touched a high of 59,388.42 points. The Sensex touched a low of 59,243.15 points. On Wednesday, the Sensex closed at 58,927.33 points. The Sensex is trading at 59,386.49 points up by 459.16 points or 0.78 per cent.
Adani completes acquisition of Gangavaram Port
The boards of APSEZ and GPL have also approved the merger of GPL with APSEZ, taking into consideration GPL's valuation of Rs 120 per share and fair value of APSEZ at Rs 754.8 per share, resulting in a swap ratio of 159 shares in APSEZ for 1,000 shares in GPL for the 58.1 per cent stake held by DVS Raju and Family in GPL.
Ease of Doing Business: India launches single window clearance portal
Union Commerce and Industry Minister Piyush Goyal said that single window portal will become a one stop shop for investors for approvals and clearances. According to the Commerce and Industry Ministry, the portal hosts approvals across 18 Central departments and nine states, while 14 more Central departments and five states will be added by December.
FDI inflows up 62% during first four months of FY22
India attracted a total FDI inflow of $27.37 billion, against $16.92 billion during the corresponding period of FY21. "FDI equity inflow grew by 112 per cent in the first four months of FY 2021-22 ($20.42 billion) compared to the year ago period ($9.61 billion)," said the Commerce & Industry Ministry statement. According to the ministry, automobile industry has emerged as the top sector during the period under review to attract the largest total FDI Eeuity inflows followed by computer software and hardware, and services sector, respectively.
Need to continue labour, product markets reforms for growth: RBI Guv
In his address at the 48th National Management Convention of the All India Management Association (AIMA), he cited the need to deal with pandemic's legacy and create conditions for future growth. "Limiting the damage that the crisis inflicted was just the first step; our endeavour should be to ensure durable and sustainable growth in the post-pandemic future.
ZEEL merger with Sony hinges on shareholder nod amid row with Invesco, OFI Global
R. Gopalan, Chairman, ZEEL, said that the merger would work to the interest of the shareholders of both the companies as already shown by the share price movement seen on the bourses. "The value of the merged entity and the immense synergies drawn between both the organisations will not only help businesses grow, but will also enable the shareholders to benefit from its future successes.
Air India CMD Bansal appointed Civil Aviation Secretary
He will succeed Pradeep Singh Kharola, who retires this month-end. A statement from the Appointments Committee of the Cabinet said: "Rajiv Bansal (IAS:1988:NL) appointed as Secretary, Ministry of Civil Aviation." "He replaces Pradeep Singh Kharola (IAS:1985:KN) who will be retiring this month-end. Presently, Bansal is working as CMD, Air India."
After cutting billionaires Jack Ma & Pony Ma to size China clips Didi founder Cheng's wings
Cheng, 38, is the youngest entrepreneur heading one of China's biggest tech companies. In the nine years since Didi was founded he has created a tech giant that amassed nearly 160 million monthly active users by the first quarter of this year in China alone and taken over the operations of arch rival Uber in the country. This is nearly double the amount of users that Uber has worldwide.
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