BUSINESS
Go First row: DGCA should de-register aircraft, lessors tell Delhi HC
In a major blow to its passengers, the low-cost airline stopped flying on May 3 and is undergoing voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT). The airline has around 5,000 employees. The lessors said it is illegitimate of Directorate General of Civil Aviation (DGCA) to deny deregistration.
PhonePe becomes first payment app to link 2 lakh RuPay credit cards to UPI
The company said it aims to offer a comprehensive suite of solutions for RuPay Credit on UPI in partnership with NPCI to popularize its usage among the customers and merchants alike. The company has already enabled the acceptance of RuPay credit cards on UPI across 12 million merchant outlets in the country, achieving the highest merchant penetration in the ecosystem.
NCLAT sets aside NCLT order directing stock exchanges to reassess approvals for Zee-Sony merger
On May 11, the NCLT had directed the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) to issue updated no-objection certificates before June 16, 2023. ZEE then moved NCLAT against this order. Zee contended that it was not provided adequate opportunity to present its side of the argument.
Japan net external assets hit record in 2022 on yen's sharp decline
According to the Ministry, the country's net balance of external assets stood at a record 418.63 trillion yen ($2 trillion) in 2022, rising 0.2 per cent from a year earlier, reports Xinhua news agency. The government's external assets, along with those held by firms and individuals, also marked a record high, rising 6.6 per cent to 1,338.24 trillion yen and marking the 14th straight annual increase, the data showed.
India leads with 27% share of global smartwatch shipments
"India's smartwatch market grew 121 per cent YoY driven by affordability, rising customer demand and availability of a wide variety of options in the budget segment. Around 40 per cent of the total shipments were driven by the less than Rs 2,000 price band, its highest proportion ever," said senior analyst Anshika Jain.
Ranked among top global ports by World Bank, Mumbai's JNPA celebrates 34th anniversary
The latest World Bank's Logistics Performance Index (LPI) Report, 2023 observed that the JNPA 'turns around' box ships in mere 22 hours (or just 0.9 day), which is considered among the best in the world. This distinction came after another superlative performance by the port this year - hitting a record high cargo volume of 6.05 Million TEUs till March 2023.
Mukesh Ambani joins COP28 Advisory Committee
Mukesh Ambani joined other important global leaders on the COP28 Advisory Council such as Larry Fink, Chairman and CEO of BlackRock, Olafur Grimsson, Chairman of Arctic Circle (Former President of Iceland), Laurent Fabius, President of COP21 / Paris Agreement, Former Prime Minister of France, Francesco La Camera
Currency management exercise, not demonetisation: RBI to Delhi HC on 2K note issue
The central bank defended its decision on a PIL filed by petitioner lawyer Rajneesh Bhaskar Gupta challenging RBI's decision. The PIL argued that it lacks the independent authority, as per the RBI Act, to make such a decision.
Myntra's EORS 18 set to go live on June 1 with 2.1 mn fashion, beauty & lifestyle products
The fashion carnival will be a mega bonanza for shoppers of fashion, beauty and lifestyle, where millions of users from across metro, tier 1/2 cities and towns and beyond can expect value offers on 2.1 million styles, from 6,000 brands at never-before-seen prices.
DGCA grants 30 days to Go First to submit revival plan
The low-cost airline had stopped flying on May 3 and is undergoing voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT). The aviation regulator's order came after the airline had submitted their response to the show cause notice issued by the DGCA on May 8.
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