Articles for category: Business

September 23, 2024

SpiceJet secures Rs 3,736 crore funding to regain market share and restore its reputation amidst ongoing financial struggles.

SpiceJet, the low-cost airline, has successfully raised Rs 3,000 crore through a Qualified Institutional Placement (QIP) from global investors to improve its efficiency and reliability. The airline also plans to receive an additional Rs 736 crore from past funding to bolster its financial stability and support growth initiatives. With this investment, SpiceJet aims to strengthen ...

September 23, 2024

Market News

Business

India’s palm oil import cancellations surge as refiners respond to soaring prices and increased duties, opting for profit over purchases.

India’s palm oil refiners have canceled 100,000 metric tons of palm oil deliveries planned for October to December, reacting to a significant rise in global palm oil prices and a recent increase in import duties. The Indian government raised import taxes on crude and refined edible oils by 20 percentage points, pushing the total duty ...

September 23, 2024

Market News

Business

The Indian job market shows signs of recovery, with rising employment among youth and increased female workforce participation.

The Indian job Market is currently facing challenges, particularly affecting entry-level positions for business school graduates. Both renowned and smaller institutions are seeing these impacts, with a decline in placement opportunities. However, there is a silver lining; in July, new monthly subscriptions to the Employees’ Provident Fund (EPF) rose by 2.6% to 1.05 million. The ...

September 23, 2024

Market News

Business

Facing dire financial struggles, SpiceJet aims for a fleet revival to 100 aircraft by 2026, battling legal and operational challenges.

SpiceJet, the domestic airline based in Gurugram, aims to expand its fleet to 100 aircraft by 2026, following a successful fundraising of Rs 3,000 crore through a qualified institutional placement. Chairman Ajay Singh noted that past challenges, including the grounding of Boeing 737 Max planes and the Covid-19 pandemic, have impacted the airline’s performance. Although ...

September 23, 2024

Market News

Business

Xiaomi seeks to recall India’s antitrust report, claiming disclosure of sensitive data amid accusations of breaching competition laws.

Xiaomi has requested India’s antitrust body to retract its report, which indicated that Xiaomi and Walmart’s Flipkart violated competition laws. The company claims the report contains sensitive business information that should have been redacted. This request could postpone the ongoing antitrust investigation that started in 2021. Xiaomi’s main concern revolves around details regarding its smartphone ...

September 23, 2024

Market News

Business

In a dramatic meeting, PM Modi urged top tech CEOs to innovate in India, strengthening global partnerships and technological ambitions.

During his recent three-day visit to the U.S., Prime Minister Narendra Modi engaged with 15 top tech CEOs in New York, emphasizing India’s potential for technology collaboration. He urged these leaders to co-develop innovative solutions in India, highlighting the country’s growing status as a global tech hub. Prominent figures from major companies, such as Google ...

September 23, 2024

Market News

Business

Inox Wind secures Rs 2,200 crore financing from an ICICI Bank-led consortium, marking a pivotal milestone in its financial independence.

Inox Wind has successfully secured a financial agreement with a consortium of banks led by ICICI Bank, covering a credit facility of Rs 2,200 crore. This agreement may increase to Rs 2,400 crore based on an assessment of working capital by ICICI Bank. The financing, primarily non-fund based through bank guarantees and letters of credit, ...

September 23, 2024

Market News

Business

Intel faces a tumultuous future as shares plummet, while Apollo and Qualcomm eye investments and potential takeover deals.

Intel, once a dominant force in chip manufacturing, is facing significant challenges, with its share price plummeting nearly 60% since early 2024. In a bold move to revitalize the company, investment firm Apollo Global Management has proposed a $5 billion investment, which Intel executives are currently reviewing. This investment could be vital for Intel’s turnaround ...

September 23, 2024

Market News

Business

The Nifty 50 Index shows a bullish trend but risks profit booking; the MidCap faces volatility after a failed breakout.

The Nifty 50 Index is showing a bullish trend, with resistance expected at 26,000 and indicators suggesting an overbought condition. Traders are advised to book profits at higher levels and wait for a pullback to key support levels at 25,300, 25,100, and 24,800 before making new bullish positions. In contrast, the Nifty MidCap Select Index ...

September 23, 2024

Market News

Business

Donald Trump hints at not running for president in 2028 if he loses in 2024, acknowledging his potential defeat for the first time.

Former President Donald Trump stated he is unlikely to run for president again in 2028 if he does not succeed in his 2024 campaign. During an interview with journalist Sharyl Attkisson, he confirmed, “No, I don’t,” when asked about a potential fourth run. This admission is significant as Trump typically refrains from acknowledging the possibility ...