BUSINESS
Domestic air traffic continues growth, Oct traffic records 26.95% rise
As per the data released by aviation regulator DGCA on Tuesday, nearly 1.14 crore passengers were carried by the domestic airlines during October in the country as against 89.85 lakh during the same period last year.
Negotiations on India-UK free trade pact to restart next month: Piyush Goyal
Union Commerce Minister Piyush Goyal, while speaking on the sidelines of a steel industry event, said that the India-UK FTA is a high-priority issue for both the nations and negotiations on it are expected to take place next month. Goyal said he is already in touch with his UK counterpart for the next round of talks on the trade pact.
Three game-changing revolutions will govern India's growth in the decades ahead: Mukesh Ambani
"I am confident that you, the students of PDEU, along with lakhs of other bright young minds from across the nation, will leverage these revolutions to enable India meet its energy goals," he said. Ambani added that this batch of PDEU is graduating during a year that marks the beginning of India's 'Amrit Kaal'.
New-age Indian internet firms continue to bleed as startup IPO dream over
In the last 16 months or so, five of such startup/unicorn's initial public offerings - Paytm, Zomato, Nykaa, Delhivery and Policybazaar - have gone through a bloodbath, shedding more than $18 billion in value. VC firm Lighthouse India Fund III has sold 3 crore Nykaa shares worth Rs 525.39 crore in a bulk deal, as the lock-in period expired for the pre-IPO investors.
'Rosatom has not suffered any pain due to Ukraine war, except on Finnish contract'
Rosatom's First Deputy Director General for Development and International Business Kirill Komarov also said Rosatom is now positioned as an industrial, high technology company in the nuclear and non-nuclear sector. He said that Rosatom is present end-to-end (uranium mining to nuclear plant manufacture, power generation, other uses of nuclear power, reprocessing of spent fuel and decommissioning of old plants) in the nuclear power cycle.
UK to be second weakest performer of world's big economies next year
The Paris-based Organisation for Economic Cooperation and Development (OECD) said of the members of the G20 group of leading developed and developing nations, only Russia would suffer a bigger contraction than Britain in 2023, The Guardian reported
Elon Musk cuts Twitter's employee perks
Meanwhile, Elon Musk has publicly expressed a desire to improve the social network's direct messages work. According to The Verge, Musk told his employees that the company would encrypt DMs and work to add encrypted video and voice calling between accounts.
Automotive firm Ultraviolette raises $24 mn led by Qualcomm Ventures, Lingotto
"As we countdown to the commercial launch of the F77 in India, this investment is a testament to the fact that we have been able to create a distinct identity for Ultraviolette and the F77 and build aspiration for the product across global audiences," said Narayan Subramaniam, Co-Founder and CEO, Ultraviolette.
India records 13-month high in mobile, fixed broadband download speed
The fixed broadband median download speed for India also hit a 13-month high of 48.78 Mbps from 48.59 Mbps, according to the data from Ookla, the global leader in network intelligence and connectivity insights. According to the October Speedtest Global Index, Macau registered the highest increase in rank, gaining 15 spots globally with the UAE at the top spot for overall global median mobile speeds.
Australia clears FTA with India
Taking to Twitter, Australian Prime Minister Anthony Albanese said: "BREAKING: Our Free Trade Agreement with India has passed through Parliament."
The pact is likely to be implemented on a mutually agreeable date. According to Australian law, the India-Australia Economic Cooperation and Trade Agreement (AI-ECTA) needs ratification by that country's parliament before its implementation.
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