BUSINESS
PVR and INOX Leisure announce merger
Film exhibition majors PVR and INOX Leisure on Sunday announced merger. Accordingly, the Board of PVR and the Board of INOX Leisure at their respective meetings approved an all stock amalgamation of INOX with PVR. "Upon obtaining all approvals, when the merger becomes effective, INOX will merge with PVR."
Banks on 2-day strike from Monday
The banks will observe a nationwide strike on Monday (March 28) and Tuesday (March 29) to protest against the Banking Laws (Amendment) Bill, 2021, and oppose the privatisation of public sector banks. The decision to go on a strike was taken by a joint forum of central trade unions. The All India Bank Employees Association had on Saturday announced that it would observe two day's strike to oppose the move of the Central government.
SpiceJet launches 7 new flights under UDAN including Gorakhpur-Varanasi
Under the regional connectivity scheme UDAN, SpiceJet on Sunday launched seven flights. The airline launched the Gorakhpur-Varanasi flight, which was inaugurated by Union Minister of Civil Aviation Jyotiraditya Scindia and Uttar Pradesh Chief Minister Yogi Adityanath. Both Gorakhpur and Varanasi are popular religious and tourist destinations in Uttar Pradesh. The airline will be deploying its Boeing 737 and Q400 aircraft on these routes.
IPO fundraising at highest ever in 2021-22
The 2021-22 IPO amount was over 3.5 times Rs 31,268 crore raised through 30 IPOs in 2020-21. The previous best year was 2017-18 in which Rs 81,553 crore was raised. IPOs from new age loss-making technology startups, strong retail participation and huge listing gains were the other key highlights of 2021-22.Overall public equity fundraising, however, dropped to Rs 1.70 lakh crore from Rs 1.90 lakh crore in the preceding year.
Ukraine war could lead to food riots in poor countries: WTO
Rocketing global food prices as a result of the war in Ukraine could trigger riots from those going hungry in poor countries, the head of the World Trade Organization has said. Ngozi Okonjo-Iweala warned food-producing countries against hoarding supplies and said it was vital to avoid a repeat of the Covid-19 pandemic, when rich countries were able to secure for themselves the bulk of vaccines, reports the Guardian.
US recession indicator flashes warning sign
An inverted yield curve is often seen as a signal that investors are more nervous about the immediate future than the longer term, spurring interest rates on short-term bonds to move higher than those paid on long-term bonds. While the curve isn't inverted yet, it's getting close. That shouldn't be particularly surprising, given how Russia's invasion of Ukraine -- and its economic ramifications -- continue to weigh heavily on the global economy, CNN reported.
India's $400bn export target illustrates capability, potential: Modi
In his monthly radio address 'Mann ki Baat', he said the export target also signified that the demand for items made in India has been increasing all over the world and the supply chain is getting stronger by the day. "The nation takes great strides when resolutions are bigger than dreams. When there is a sincere effort day and night for the resolutions, those resolutions also attain fruition," Modi said.
India, Maldives partnership reaches $2.6 bn
S. Jaishankar is in Maldives for two days -- from March 26 to March 27, during which he will call on President Ibrahim Mohamed Solih.He held discussions with the Maldives Minister of Foreign Affairs Abdulla Shahid and signed several agreements related to the bilateral development cooperation, inauguration/ and handing-over and launch of a number of key India-supported projects that will contribute to the socio-economic development of Maldives and enhance its security.
India allows over 3,200 international flights per week from Sunday
The Summer Schedule 2022 is effective from March 27, 2022 till October 29, 2022. "A total of 1,466 departures per week have been approved to 43 destinations in 27 countries," the Directorate General of Civil Aviation said in a statement. As per the approved schedule, IndiGo will operate 505 departures per week, followed by Air India at 361, Air India Express 340, SpiceJet at 130, GoAir (GoFirst now) at 74 and Vistara at 56.
Bengaluru airport named 'Best Airport' at Wings India Awards 2022
The Kempegowda International Airport in Bengaluru has won two major accolades at the Wings India Awards 2022. The airport has been adjudged the 'Best Airport' under the General Category, and also won the 'Aviation Innovation' Award, according to an official statement by Bengaluru International Airport authorities on Saturday.
Don't Miss
Advertisement