BUSINESS
OYO Q2 profitability to get impacted due to slower budget travel recovery
The key drivers of this recovery, according to the information filed by the company, were higher monthly revenue per hotel due to increase in occupancy rates and more homes being added to the platform.
Delhi HC junks Future's plea to stall proceedings before Singapore tribunal
Justice C. Hari Shankar said the arbitration the before SIAC will continue and did not express any opinion on the merits of the arguments in the matter. The legal battle between Amazon and Future Group was going on for over two years in various courts in India and in Singapore following a 24,713-crore deal to sell the latter's retail, wholesale, logistics, and warehousing assets to Mukesh Ambani's Reliance Industries Ltd.
Pakistan's default risk worsens
According to a research house, the CDS had been at 4.2 per cent in January 2021, The Express Tribune reported. Finance Minister Ishaq Dar and many financial experts have reiterated that Pakistan will not default on any of the international payments and that volatility in the CDS had nothing to do with the country's default risk.
Amagi acquires Streamwise to boost its streaming data analytics solutions
The acquisition will help Amagi to enhance its data solutions capabilities with comprehensive, more streamlined reporting and dashboards. "Together, we can enable content brands to shape their programming, optimise their distribution and generate better ROI (return on investment)," said Baskar Subramanian, CEO and Co-founder, Amagi.
Pakistan's current account deficit narrows 68% in Oct: Central bank
In a statement on Monday, the SBP said the current account deficit was $0.57 billion in October compared with a deficit of $1.78 billion in the same month last year, reports Xinhua news agency. During the first four months (July-October) of fiscal year 2022-2023, the current account deficit was $2.8 billion, down from $5.3 billion in the corresponding months of the last fiscal year, the figures showed.
Russia's nuclear fuel company busy 'breeding' new fuels
TVE Fuel is part of Russia's integrated nuclear power company. "All the six 1,000 MW units at Kudankulam in India will be powered by TVS 2M fuel. The fuel has been introduced in Unit 1," Alexander Ugryumov, Senior Vice-President for Research and Development said. The earlier fuel that was used in Unit 1 was called UTVS.
Bira 91 raises $70 mn from Japanese beer company Kirin Holdings
The funds will be deployed to expand Bira 91's production capacity by commissioning new breweries and expanding its existing facilities. The capital will also be utilised to increase the company's distribution footprint across the country and internationally, and further bolster Bira 91's product development and innovation capabilities, the company said in a statement.
Twitter is done with layoffs, ready to hire again: Musk
At a meeting with employees, Musk also claimed that Twitter is now actively hiring for positions in engineering and sales, reports The Verge. He also asked the staffers to recommend potential candidates. The micro-blogging platform does not currently have any open positions advertised on its website, and Musk did not name the specific engineering or sales posts for which the company was seeking.
CII suggests slashing income tax rates in forthcoming budget
The industry body gave this suggestion to Finance Minister Nirmala Sitharaman on Monday, during the pre-budget meeting, which she held with industry chambers. CII further suggested reducing the highest 28 per cent GST slab on consumer durables. Further the industry body also suggested to the Finance Minister that GST should be decriminalised.
Coronavirus hospitalisations surge in Italy
The Gimbe Foundation, a health monitoring entity, said on Monday that the number of patients in intensive care units rose by nearly 22 per cent during the week ending November 17, Xinhua news agency reported. The increase in intensive care unit admissions was faster than that for overall coronavirus-related hospital admissions, which increased by nearly 10 per cent over the same period.
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