The article delves into the economic implications of the monsoon in India, exploring how variations in rainfall impact agricultural production, inflation, and overall economic growth.
Results for: Business
The first spectrum auction in India after two years began on Tuesday with telecom operators bidding a total of ₹11,000 crore for 150 Mhz of spectrum. This is significantly lower than the ₹96,320 crore worth of airwaves on offer. While bidding is expected to continue for the remaining bands, the initial response suggests a more subdued auction compared to the record-breaking 2022 sale.
Sweden’s metal workers’ union, IF Metall, is taking Tesla to court for refusing to provide financial information. The union argues that Swedish law mandates companies to inform unions about their financial situation, even without a collective agreement. This legal action follows a strike launched by IF Metall against Tesla for refusing to sign a collective wage agreement, escalating into a larger conflict involving multiple unions across Nordic countries.
Consumer confidence in the US eased in June, according to the Conference Board’s index, driven by a weaker outlook for business conditions, the job market, and incomes. While current conditions remain strong, concerns about the future are growing.
Lufthansa, the German airline giant, announced it will implement an environmental charge of up to €72 on European flights to cover the increasing costs of EU climate regulations. The charge will be added to flights departing from EU countries, Britain, Norway, and Switzerland starting in January 2024. The airline cites the EU’s requirement to increase the use of sustainable aviation fuel (SAF) as a major driver of the new charge.
FlyHouse, a leading force in private aviation, has acquired JetASAP, a platform for private jet charter bookings. This strategic move aims to revolutionize the aviation industry by offering an enhanced booking experience through FlyHouse’s upcoming app. The integration of JetASAP’s technology and expertise with FlyHouse’s customer-centric approach will create a more intuitive and efficient system for private jet travel.
Reliance Jio, led by India’s richest man Mukesh Ambani, has deposited the highest earnest money of Rs 3,000 crore for the 5G spectrum auction, indicating their ambitious plans to expand their high-speed internet network across the country, including rural areas. The auction, which began on Tuesday, involves the sale of airwaves worth Rs 96,317.65 crore for over 10,500 Mhz mobile services, attracting bids from major telecom operators like Jio, Airtel, and Vodafone Idea.
Duetto and SHR, leaders in revenue management and hospitality technology, have announced a partnership to transform casino resorts by offering real-time pricing, boosting revenue and guest satisfaction. This integration enables casino resorts to provide personalized rates and comp rooms to their loyalty members, streamlining operations and enhancing the guest experience.
Zahabiya Khorakiwala, daughter of Habil Khorakiwala, founder of Wockhardt, has taken the reins of the multinational pharmaceutical company’s hospital arm. She oversees Wockhardt Hospitals, a company valued at Rs 9517 crore, and has been instrumental in its growth and expansion. Her journey highlights the leadership and business acumen of the next generation in India’s corporate world.
Britannia Industries, a household name in India and globally, has announced the closure of its iconic biscuit facility in Kolkata. This news comes as a significant development for the company, which has a rich history dating back to pre-independence India. We delve into the journey of Britannia, from its humble beginnings to its current status as a major food conglomerate.