BUSINESS
SpaceX could spin off Starlink as public company by 2025: Report
According to tech analyst firm CCS Insight, as Starlink's "revenue becomes more predictable and it gains more and more users, the company is spun off to raise capital to expand its constellation of satellites" to meet the growing demand for its services, reports CNBC.
Mineral production rose 4.2% cumulatively in April-August 2022-23
Production level of important minerals in August, 2022 were coal at 580 lakh tonnes, lignite at 29 lakh tonnes, natural gas (utilised) at 2,829 million cubic metres, petroleum (crude) at 24 lakh tonnes, bauxite at 1,450 thousand tonnes and chromite at 1,46,000 thousand tonnes, among others.
FCI to build steel silos at 249 spots in 12 states
In the first phase, silos of 34.875 LMT capacity at 80 locations would be constructed by the FCI. Out of this, 10.125 LMT at 14 locations would be under the develop build operate and transfer (DBFOT) mode and 24.75 LMT at 66 locations would be under the develop build own and operate (DBFOO) mode.
Rupee hits new record low of 82.95 against USD
The currency fell to a record low of 82.95 after the US dollar strengthened against all major currencies globally.
the dollar's ascent has been triggered by inflation in the UK hitting a 40-year high level last month, owing to rising food prices.
India now home to over 450 Web3 startups, 11% of global talent
Currently, India is home to over 11 per cent of the global Web3 talent, making the country the third largest Web3 talent pool worldwide. Between 2021-2022, India registered over 170 new Web3 startups, yielding over 50 per cent CAGR growth since 2015.
Domestic air traffic registers annual growth of 64.61%
As per the data, nearly 1.03 crore passengers were carried by the domestic airlines in September as against 70.66 lakh during the same period last year. The passenger load factor or occupancy of the airlines remained on the higher side in the range of 75 to 85 per cent.
Jaypee and Amrapali Groups collapse, leaving buyers in the lurc
It can be estimated that out of all the units to be built here, an almost 50 per cent share was of these two builders. Acquiring more and more land and starting various projects simultaneously was perhaps one of the biggest mistakes of the groups.
Kakao's co-CEO resigns over massive service disruption
"As a CEO of Kakao, I feel miserable and strongly responsible for the incident. So I am stepping down from the post," Kakao's co-CEO Namkoong Whon said at a press conference at Kakao's office building in Pangyo, just south of Seoul. "I would like to give an apology to all users," he said. "I promise Kakao will do its best to restore public confidence.
Demand for Russian crude rises in India, China: Reports
The three countries have been Russia's most reliable buyers of its crude during its ongoing conflict with Ukraine amid sanctions threat, reports said. Shipments of crude oil leaving Russian ports marked for ambiguous locations, seem to be ending up either in India or even to China, reports quoting vessel tracking data said.
Adani Defence and Aerospace to acquire Air Works for enterprise value of Rs 400 cr
Air Works has developed extensive operational capabilities within the country for key defence and aerospace platforms. From the first P-8I aircraft Phase 32 checks to Phase 48 checks and MRO on the landing gear of Indian Air Force's 737 VVIP aircraft, Air Works undertakes base maintenance for ATR 42/72, A320 and B737 fleet of aircraft from its EASA and DGCA-certified facilities at Mumbai, Delhi, Hosur and Kochi.
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