BUSINESS
Ashneer now hits out at BharatPe Chairman Rajnish Kumar, says hiring him 'biggest mistake'
"Rajnish Kumar was my biggest hiring mistake. Not only because of what transpired - but bcoz I overlooked data. Under Rajnish as CMD, SBI stock tanked 25 per cent in 3 years (Rs 257 -- Rs 192). That's $8 billion of value destruction. After he left, it went to Rs 570 (up 200 per cent). Data is never dogla!" Ashneer Grover claimed in his tweet.
By 2024, Indian Roads to match US Standards: Nitin Gadkari
"It is going to help us get more exports", the Minister said, adding that now is the time to increase our business and presence in the international market. The Minister further stated that before 2024 ends, India's road infrastructure would be equal to the US standards. The Minister was addressing the annual convention and 95th AGM of FICCI.
Counterfeiting, smuggling develop into substantial threat to global economy
Counterfeiting and smuggling have developed into a substantial threat to the economy globally, this is the biggest challenge and needs to be addressed at a priority with effective enforcement of laws as a key to curb the menace.
All eyes again on Indian-origin Nishad Singh, close associate of former FTX CEO
Singh was in the inner circle of FTX's 30-year-old founder Bankman-Fried. As FTX's director of engineering, he lived in a penthouse in the Bahamas, along with key team members like CEO of Alameda Research, Caroline Ellison and Gary Wang, chief technology officer. "It is hard to imagine that Ellison, Singh, and Wang weren't aware of much of the activity that harmed FTX's investors and customers," reports Time.
Indian tech industry hired 380K freshers in FY22, Gen Z keen to join: Nasscom
According to the findings, significant fresher hiring over the last few years in the tech Industry has pushed the share of Gen Z to 18-20 per cent and millennials to 68-70 per cent of total employee base in FY22. In fact, 79 per cent of Gen Z are willing to spend more than two years in their first job, provided employers give them the right value proposition, said the Nasscom survey with job website Indeed.
India's growth expected to slow in 2023-24 on the back of sharp global slowdown
While buoyant, it would still leave output about 7 per cent below its pre-pandemic potential trend, reflective of impact of the pandemic and adverse terms of trade shock from higher commodity prices in 2022. Growth is expected to slow in 2023-24, on the back of a sharp global slowdown, which is weighing on exports, and the progressive fiscal and monetary policy normalization at home, JP Morgan said.
European Central Bank hikes rates by 50 bps
The interest rates on the main refinancing operations, the marginal lending facility and the deposit facility will be increased to 2.5 per cent, 2.75 per cent and 2 per cent, respectively, with effect from December 21, Xinhua news agency quoted the bank as saying in a statement. The inflation outlook, which has been revised substantially higher, has been the main reason behind the ECB's move.
Two promoter exits - shakeout in housing finance sector?
The two exits -- small and the big ones -- were announced in quick succession. The Pune-based Poonawalla Fincorp Ltd announced the proposed sale of its stakes in the housing finance subsidiary Poonawalla Housing Finance Limited (formerly Magma Housing Finance Limited) to Perseus SG Pte. Ltd affiliated to TPG Global LLC for Rs 3,900 crore.
IndiGo seeks final approval from DGCA to wet lease B777 aircraft
"We are working closely with the authorities to ensure all the required steps to obtain the approvals are completed well in time and will consider the earliest the go-live date for these aircraft in line with expected receipt of requisite approvals. This wet lease solution will also enable us to better utilize our A321 narrow body fleet to continue our network deployment in light of the global supply chain issues," said the Indigo Spokesperson.
Be prepared against tariff walls on exports by nations undergoing green transition: FM to industry
"Many nations want to fund their green transition and are imposing tariff walls on products from other nations. If we export steel to such places, it is likely to face this tariff wall or tax for green transition. Indian industry needs to reset itself accordingly," she said while addressing the industry body FICCI's annual general meeting (AGM).
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