BUSINESS
Inflation-linked road toll rate hike to be modest in FY24: ICRA
ICRA has revised the outlook on the toll road sector to stable from positive for FY24. "In the backdrop of easing WPI inflation to 4.95 per cent in December 2022 and an expected WPI inflation of sub-2 per cent in March 2023, the inflation-linked toll hike should be relatively modest at 2-5 per cent in FY2024 compared to the 8.7-14.6 per cent toll rate hike in FY2023," ICRA said.
Under NMP, 25 AAI airports earmarked for leasing till 2025
The leasing of the airports began in 2022. These airports include Trichy, Coimbatore, Madurai & Chennai in Tamil Nadu; Bhubaneswar in Odisha; Varanasi in Uttar Pradesh; Amritsar in Punjab; Indore & Bhopal in Madhya Pradesh; Raipur in Chhattisgarh; Calicut in Kerala; Nagpur in Maharashtra; Patna in Bihar; Surat & Vadodara in Gujarat; Ranchi in Jharkhand; Jodhpur & Udaipur in Rajasthan; Vijayawada, Tirupati & Rajahmundry in Andhra Pradesh; Hubli in Karnataka; Imphal in Manipur; Agartala in Tripura and Dehradun in Uttarakhand.
India's seafood exports likely to reach all-time high of US $ 8 bn
During 2021-22, India exported 13,69,264 tonnes of marine products worth US$ 7.76 billion (Rs 575.86 billion), registering an all-time high export by value, while shrimp production crossed one million MT. Frozen shrimp remained the major export item in quantity and value, accounting for a share of 53 per cent in quantity and 75 per cent of the total revenue.
Rents on Roll: NCR's Golf Course Extension sees highest growth of 18% since 2019
As per latest ANAROCK data, the average monthly rentals in the prominent luxury micro-markets of the top 7 cities increased by anywhere between 7-18 per cent in 2022 over 2019. NCR's Golf Course Extension saw the highest growth of 18 per cent - from Rs 49,000 a month in 2019 to Rs 58,000 in 2022 for luxury homes of approximately 2,000 sq. ft. area. This was followed by Hyderabad's Jubilee Hills.
AISATS to develop India's largest multi-modal cargo hub at Noida Airport
The MMCH will be equipped with multiple connectivity options, and an integrated process driven system to cater to the burgeoning logistic demand of the country. AISATS received the 'Letter of Award' (LOA) at the UP Global Investors Summit. The MMCH will be a first of its kind in India, comprising Integrated Cargo Terminal (ICT) and Integrated Warehousing & Logistics Zone (IWLZ).
71% Indian professionals confident to retain jobs in 2023 despite global layoffs
There is a stark difference in the confidence levels of freshers and entry-level professionals and the ones with more than six years of experience. While 63 per cent of professionals with 0-3 years of experience are confident about retaining their job, this number jumps up to 83 per cent for professionals with more that six years of experience, according to the report by edtech company.
Renault Nissan to invest $600 mn in India, to roll out 6 new models
The Renault Nissan alliance signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for the new investment. Announcing the new investment Ashwani Gupta, Director and Chief Operating Officer, Nissan Motor Company said the alliance will invest $600 million or Rs 5,300 crore in the new projects. He said the new investments will create 2,000 jobs at Renault Nissan.
India pips France to become UK's largest market for Scotch whisky
The SWA has noted that if a UK-India FTA were to ease the 150% tariff burden on Scotch whisky in India, it could result in an additional GBP 1 billion of growth over the next five years. The Indian market for Scotch exports is currently worth GBP 282 million, making it the fifth-largest market, behind France, Singapore, and Taiwan.
Drone player Garuda Aerospace raises $22 mn
According to Garuda Aerospace, the funding round was led by Venture Capital firm SphitiCap which invested $12 million along with participation from other global investors, angel investors and high net worth individuals (HNI) at $5 million. Another $5 million in funding from an infra-development company, a group of HNIs and angel investors from India, UAE and Singapore was secured by the startup earlier.
Elon Musk spends long day at Twitter HQ, fixes 2 key problems
He said that the 'Fanout service for Following feed' was getting overloaded when "I tweeted, resulting in up to 95 per cent of my tweets not getting delivered at all". "Following is now pulling from search (aka Earlybird). When Fanout crashed, it would also destroy anyone else's tweets in queue," Musk added. He also said that the recommendation algorithm was using absolute block count, rather than percentile block count, He also said that the recommendation algorithm was using absolute block count, rather than percentile block count.
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