In this issue

May 17, 2023

June 4 or 7? IMD, Skymet differ on monsoon onset

The southwest monsoon in all probability will arrive late over Kerala coast this year, with the state-run India Meteorological Department (IMD) predicting the onset date to be June 4, even as private weather forecasting agency Skymet said it would arrive no later than June 7.

2 mins

A YEAR AFTER LISTING, LIC SCORECARD LACKS LUSTRE

State-owned Life Insurance Corporation of India (LIC), which completes one year of its listing on Tuesday, presents a sorry scorecard as far as its stock market performance goes.

1 min

US seeks enterprise-based probe into errant companies

INDO-PACIFIC ECONOMIC FRAMEWORK DEAL

2 mins

Tesla may be revving up interest in India, again

Senior executives from firm to hold meetings with top Indian officials

2 mins

Tata Sons set for record dividend income in FY23

₹33K-cr payout by group firms up 130% YoY

2 mins

Airtel profit surges 50% in Q4

Led by 4G customer additions, Bharti Airtel's consolidated net profit topped estimates and grew 49.7 percent year-on-year (YoY) to ₹3,006 crore in the fourth quarter of FY23. A net exceptional gain of ₹413 crore boosted the overall result.

2 mins

Go First yet to repay ₹65 crore to Wadia entity

Some of the listed Wadia Group entities reduced their exposure to the now-bankrupt Go First airline (founded as GoAir) in 2022-23, with Bombay Burmah Trading Corporation's (Bombay Burmah's) exposure falling to ₹65 crore.

1 min

Regulator moots pre-export govt testing for cough syrup makers

But industry sources say physically impossible to test every batch of cough syrup before dispatch

2 mins

Restarting quickly key to Go revival, shows Jet saga

Both Jet Airways and Go First have met with a similar fate of landing up in insolvency, albeit for different reasons.

3 mins

Road to profit: E-tailers set to push up seller fee

Amazon increased fee on Monday, its sellers may cut discounts

2 mins

Exports saw sharp fall on decline in US, UAE share

Shipments to six of top 10 markets witnessed a drop in April

2 mins

DPIIT calls for GST rate cut for leather products

The Department for Promotion of Industry and Internal Trade (DPIIT) has sent proposals for reducing goods and services tax (GST) rates on certain segments of the leather sector, Rajeev Singh Thakur, additional secretary at DPIIT, said on Tuesday.

1 min

Ravneet Kaur to take over as CCI chairperson

The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65.

2 mins

BoB posts record ₹4.7K-cr profit; ₹500-crore provision on Go First

Bank of Baroda (BOB) has made prudential provision of ₹500 crore for exposure to Go First, which has sought bankruptcy protection after the National Company Law Tribunal (NCLT) admitted its plea for voluntary insolvency.

2 mins

India, EU talk trade deal, market access

Jaishankar, Goyal, Chandrasekhar co-chair 1st India-EU trade & tech body meet

1 min

Modi distributes 71,000 job letters before 9th anniversary

Prime Minister Narendra Modi marked nine years of the day the Bharatiya Janata Party (BJP) won the 2014 Lok Sabha elections on May 16, 2014, by distributing 71,206 appointment letters at a 'Rozgar Mela' on Tuesday.

2 mins

Sam Altman proposes licences for building AI to US Congress

OpenAI, the startup behind ChatGPT, wants the US to consider mandating licences for companies to develop powerful artificial intelligence like the kind underpinning its chatbot, its chief executive was set to tell Congress on Tuesday.

1 min

'Not good enough' Vodafone to axe 11,000 staffers in 3 yrs

New Vodafone boss Della Valle said N Margherita she would cut 11,000 jobs globally over three years to help the telecom group regain its competitive edge after it warned that a poor performance in its biggest market Germany would hit cash flow.

1 min

Don't use artificial sweeteners for weight loss: WHO

The World Health Organization (WHO) has advised against the use of non-sugar sweeteners to control body weight or reduce the risk of non-communicable diseases.

1 min

Natural disasters: 2.5 million displaced in India in 2022

Extreme weather events and disasters have been on the rise in the region

1 min

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