BUSINESS
Covid dent: passenger vehicles sales down by over 61% from May'19 levels
However, base effect along with low interest rates and some pent-up demand showed an accelerated rise in domestic demand in May 2021 on a year-on-year basis. Accordingly, sales of passenger vehicles increased to 88,045 in May this year compared to 33,546 units sold during the same period of 2020. The May 2021 figures were lower by 61.2 per cent from 2,26,975 units sold during May 2019 levels.
Full recovery of Indian economy likely only by Q3FY22: Brickwork
It noted that second wave of the coronavirus pandemic has completely shattered confidence and has put businesses at great risk and uncertainty. Although the declining numbers of new infections provide a glimmer of hope, fast pacing the recovery process is possible only when new infections are contained and a significant proportion of the population is vaccinated, it said.
Flyhomes raises $150M Series C funding
As part of the transaction, Lisa Wu of Norwest Venture Partners and Roger Lee of Battery Ventures will join the Flyhomes Board of Directors. Flyhomes brings every step of the homebuying process, from brokerage to mortgage, together in one seamless experience and innovates on financial products to help their clients win faster and for less money.
Crisil assigns 'highest' corporate governance rating to Bharti Airtel
As per Crisil's website, the capability of entities graded CRISIL 'GVC Level 1' with regard to corporate governance and value creation for all stakeholders is 'excellent'. Last month, the telco had reported a net profit of Rs 759 crore for the January-March quarter. Its revenues for the period under review rose 17.6 per cent to Rs 25,747 crore.
Apple supply chain creates 20K jobs in India: Report
Manufacturers including Foxconn, Wistron and Pegatron were all committed to creating certain numbers of job opportunities when they applied to enter the subsidies programme under India's Production Linked Incentive (PLI).
'Global shipping crisis result of uneven post-Covid recovery'
The economic downturn due to Covid-19 led to the plight of the sector. Be it the supply chain disruption, the shortage of shipping containers to skyrocketing freight costs over the last year, many elements have collectively increased the woes of the SMBs across the globe.
Gaming firm Roblox sued for $200M over music copyright issues
The lawsuit alleged that Roblox "actively preys on its impressionable user base and their desire for popular music, teaching children that pirating music is perfectly acceptable". The lawsuit also seeks a court order that will make Roblox crack down on piracy.
Sensex, Nifty hit record highs
Sensex touched its new all-time high of 52,626.64 and the Nifty50 has hit its record high of 15,835.55 points. Healthy buying was witnessed in metal and IT stocks. Sensex was trading at 52,613.59, higher by 313.12 points or 0.60 per cent from its previous close of 52,300.47.
Fuel prices rise again across the country; petrol costs Rs 102/ltr in Mumbai
In the city of Mumbai, where petrol prices crossed Rs 100 mark for the first time ever on May 29, the fuel price reached new high of Rs 102.04 per litre on Friday. Diesel prices also increased in the city to reach Rs 94.15 a litre, the highest among metros.
BookMyShow lays off 200 employees amid pandemic woes
Ashish Hemrajani, CEO and Co-founder of Bigtree Entertainment Pvt Ltd, which operates BookMyShow said: "COVID19 has taught me many lessons & I learnt another one today. As we let go of 200 of the most incredibility talented & performance-driven individuals, each & everyone has messaged, thanking me for the opportunity, the love for BookMyShow and asking me if they could help me in any way possible."
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