BUSINESS
Look within for smoother transition, experts say on CEO succession
Experts are of the view that internal candidates should be given an opportunity to lead their companies. In the CEO search and selection process such identified candidates should be given the first opportunity as they have the experience and a ringside view of the organisation's path forward.
Aviation industry Rs 11,658 cr loss in 2021-22
The losses to the industry were primarily because of the Covid-induced disruption across the globe; currency depreciation (USD/INR); high operating cost environment, especially due to increase in ATF prices which constitute a major portion of the operational cost of airline; increase in crude oil prices in international market; VAT; excise duty; and the ongoing Ukraine-Russia war.
Meta purges 23 mn bad pieces of content on FB, Instagram in India in Nov
Between November 1-30, Facebook received 889 reports through the Indian grievance mechanism, and the company said it provided tools for users to resolve their issues in 511 cases.These include pre-established channels to report content for specific violations, self-remediation flows where they can download their data, avenues to address account hacked issues etc, said Meta
India looks at expanding rupee trade to make currency stronger
Besides cash-starved Sri Lanka is also likely to start using the Indian currency for bilateral trade.An analyst working for an industry body noted that as many countries look at setting up alternative supply chains in India, there is an "openness in accepting the rupee trade."
CAG report discloses irregularities in corporation tax assessments of high value cases
The report of the Comptroller and Auditor General on Direct Taxes of the Union Government for the year ended March 2021, tabled in Parliament on Wednesday, contains 467 audit observations having a tax effect of Rs 8,413.10 crore.
Reliance Retail Ventures Ltd. set to acquire METRO Cash and Carry India in Rs 2,850 crore deal
METRO India started operations in India in 2003 as the first company to introduce cash-and-carry business format in the country and currently operates 31 large format stores across 21 cities with nearly 3,500 employees. The multi-channel B2B cash and carry wholesaler has a reach to more than 3 million B2B customers in India, of which 1 million are frequently buying customers, through its store network and e-B2B app.
Government keeping watch on inflation: Nirmala Sitharaman
Responding to a discussion on Supplementary Demands for Grants in the Rajya Sabha, Nirmala Sitharaman said that wholesale price index (WPI) based inflation has slid to a 21-month low. Retail inflation also fell to a 10-month low of 5.88 per cent in November 2022, after remaining beyond the RBI's upper tolerance level of 6 per cent.
Pakistan's economic crisis deepens amid growing political turmoil
According to local newspaper Dawn, Dalal Securities CEO Siddique Dalal said the index fell due to a number of reasons, including fear of the dissolution of Punjab and Khyber Pakhtunkhwa assemblies and rising political confrontations which had damaged investor confidence.
To keep inflationary expectations anchored, repo rate hiked: RBI's MPC
According to minutes of the MPC released on Wednesday, it noted during its meeting held between December 5 to 7, that in case of food, while vegetable prices are likely to see seasonal winter correction, prices of cereals and spices may stay elevated in the near-term on supply concerns.
Demand for high-skill talent on contract grows by 105% in last 12 months: Report
According to tech-led enterprise gig platform Awign, about 85 per cent of the overall demand coming from enterprises has been for gig talent in tech roles which include roles of full stack developers, data scientists, React and Java developers, mobile app developers, and cloud engineers.
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