BUSINESS
'Market share target for Indian space sector will be fixed soon'
IN-SPACe is the regulator for the private players in the Indian space sector and Goenka has been named as its Chairman. In his address at the International Space Conference and Exhibition, organised by Confederation of Indian Industry (CII), on the theme 'Building NewSpace in India', Goenka said: "The global space sector market is about $440 billion and India's share is less than two per cent."
South Indian cities dominate in office leasing on startup boom, IT sector
An Anarock report released on Monday said that among the top seven cities -- Bengaluru, Hyderabad and Chennai -- saw their share of total office leasing increase to 66 per cent in FY21, from 47 per cent in FY18. The other top markets are Mumbai Metropolitan Region, Pune, Delhi-NCR and Kolkata. The net office absorption in FY21 in the top cities was 21.32 million square feet.
IIB's rates to ensure profitability of insurers!
As per the draft regulations, put out by Insurance Regulatory and Development Authority of India (IRDAI) one of the objectives of Insurance Information Bureau of India (IIB) is: "To generate benchmark rates for different Lines of Insurance Business including Life, Motor, Health, Marine, Fire and others on a periodic basis for promoting reasonableness and sustainability of Premiums in Insurance Business."
Ola Futurefactory to be run entirely by women
"We welcomed the first batch this week and at full capacity, Futurefactory will employ more than 10,000 women, making it the world's largest women-only factory and the only all-women automotive manufacturing facility globally," said Bhavish Aggarwal, Chairman and Group CEO. Built over 500 acres in Krishnagiri district of Tamil Nadu, the facility will roll out one scooter every two seconds at full capacity.
Jet Airways to start domestic ops from Q1CY22
Accordingly, the existing Air Operator Certificate (AOC) is under process for revalidation. In a statement, the consortium on Monday said it is working with relevant authorities and airport coordinators on slot allocation, required airport infrastructure, and night parking. Besides, the consortium said that Jet Airways will now be headquartered in Delhi NCR.
SpiceJet expects to start Boeing 737 Max ops by Sep-end
Accordingly, SpiceJet on Monday said it has reached a commercial settlement with CDB Aviation, a major lessor of Max aircraft. This will allow SpiceJet's 737 Max aircraft to return back to service. "This will add to already announced settlement with Avolon and grow its fleet of 737 Max aircraft," said SpiceJet in a statement.
MyFledge Group of Institutes bridges skill gap in Indian service sector, turns new career-oriented training provider
MyFledge Group of Institutes, since its inception in 2014, has built a fleet of institutions that empowers India's youth with 21st century skills. Pioneered in the heart of India's Silicon City, Bangalore, the group has specialized in Aviation and Hospitality skill based learning. In the past 7 years, MyFledge has actively trained and placed over 4500 students in Aviation and Hospitality as Cabin Crew, Pilots, and Customer Service at various Airlines and Airport companies.
Vedanta cuts $800 debt in FY22, gets pledge on shares released
In a regulatory filing deadline in the Singapore Exchange, the company on Monday said that it has reduced its net debt (including Inter-Company Loan and loan at Volcan) by $300 million in H1 and expects to further reduce its debt by $500 million in H2 FY22. With entire debt repayment at Volcan, the pledge on all the equity shares of VRL has been released, the company informed the exchange.
Sensex loses 350 points, RIL shares down 2%
Slump in the shares of index-heavyweight Reliance Industries (RIL) also pulled the indices lower. Around 10.15 a.m., RIL shares on the BSE were trading at Rs 2,373, lower by Rs 52.45 or 2.16 per cent from their previous close. Sensex was trading at 57,951.71, lower by 353.36 points or 0.61 per cent from its previous close or 58,305.07 points.
Petrol, diesel prices remain unchanged for over a week
The oil marketing companies (OMCs) on Monday kept pump prices of auto fuels petrol and diesel unchanged, the eighth consecutive day of no revision, and decided to wait and watch the global oil situation before making further changes. Accordingly, the prices of petrol and diesel remained unchanged at Rs 101.19 and Rs 88.62 per litre in Delhi, according to the Indian Oil Corporation, the country's largest fuel retailer.
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