BUSINESS

03 May

Etihad Airways deal with five airlines to make travel easier for passengers

Business CorrespondentBUSINESS

Eithad has collaborated with Kam Air in Afghanistan, Jeju Air in Korea, Myanmar Airways International, SKY express in Greece and Rex Airlines in Australia. Etihad Airways has established reciprocal interline collaborations with 5 new airline partners, further widening travel options for people across its expanding global network. The interline agreements provide customers of all airlines involved enhanced connectivity to destinations across each other's networks, allowing guests to book their entire journey on a single ticket and have their baggage checked through seamlessly to their destination. Arik De, Etihad's Chief Revenue and Commercial Officer, said, "We continue to broaden our network…

02 May

Tamil Nadu: Private bank held a woman hostage after her husband failed to pay loan installment of Rs 770

Business CorrespondentBUSINESS

A shocking incident took place in Tamil Nadu’s Salem district when a branch of a private bank allegedly held a woman captive on Wednesday(1, May) after her husband failed to pay a loan installment. The woman was eventually let go after her husband paid the loan installment of Rs 770. He borrowed Rs 35,000 According to employees of the branch, the man identified as Selvam (name changed) a daily wager who lives in Dukiyambalayam, next to Vazhappadi in Salem district had been provided a loan of Rs 35,000 with a weekly installment of Rupees 770 for 52 weeks. He is…

02 May

Adani Ports Q4 net profit upgrade 77% to Rs 2,014 crore

Priyanka RoyBUSINESS, Economy

Adani Ports and Special Economic Zone Ltd (APSEZ) on Thursday reported a 76.87% rise in consolidated net profit at Rs 2,014.77 crore for the fourth quarter ended March 2024. The country's largest integrated logistics company had posted a profit of Rs 1,139.07 crore in the corresponding period of the previous financial year, the company said in a BSE filing. Its consolidated total income rose to Rs 7,199.94 crore in Q4FY24 from Rs 6,178.35 crore in the year-ago period. Total expenses also increased to Rs 4,450.52 crore in the quarter under review from Rs 3,995 crore a year ago.

30 Apr

UltraTech Cement Q4 net profit jump 35% to Rs 2,260 Crore

Priyanka RoyBUSINESS, Economy

UltraTech Cement Ltd on Monday reported 35.24% rise in consolidated net profit at Rs 2,258.58 Crore for the fourth quarter (Q 4) ended March 31, 2024. The foremost cement maker had posted a consolidated net profit of Rs 1,670.10 Crore in the January to March quarter. In the last financial year, according to a regulatory filing by UltraTech. Its revenue from operations increased by 9.41% to Rs 20,418.94 Crore during the period under review. It was Rs 18,662.38 Crore in the same period a year back. UltraTech's total expenses in the March quarter increased by 6.67% to Rs 17,381.09 Crore. The…

28 Apr

‘Baseless, untrue’, MDH rejects claims of cancer-causing pesticide in its spices

Business CorrespondentBUSINESS

In a response to the allegations made against the spices of MDH, it said its products doesn't contain ethylene oxide or any other harmful products as well as the company has not got any communication from regulators and authorities in Hong Kong or Singapore about alleged contamination in its products. Hong Kong earlier this month banned the selling of 3 MDH spice blends and an Everest spice mix for fish curries. Singapore ordered a recall of the Everest spice mix as well, saying the spices contains high levels of ethylene oxide, which is harmful for human consumption and a cancer…

17 Apr

Legal Complaint Targets Flipkart, BigBasket for Election Day Employee Work

Business CorrespondentBUSINESS

A complaint has been filed against e-commerce company Flipkart and Tata Group firm BigBasket for purportedly asking delivery boys to work on the day of voting on April 19 in the state. In the complaint registered before Tamil Nadu state election commissioner B Kothi Nirmalasamy on April 17, Chennai High Court lawyer K Narasimhan said that despite the state government declaring leave of April 19 for the election day, Flipkart and BigBasket are providing 100% delivery service of orders even on the day of voting. Narasimhan said that as per government order April 19 has been officially declared a public…

16 Apr

Zomato launches ‘large order fleet’ to deliver food for groups of up to 50 people

Business CorrespondentBUSINESS

The food delivery company Zomato is increasing the capability of delivering large orders, which could be for a group of up to 50 people, for events and parties, the company's CEO said on X on April 16. "Such large orders were earlier served by multiple regular fleet delivery partners, and the customer experience wasn’t what we really aspired for. These new vehicles should solve most of the problems our customers face while placing large orders on Zomato," Zomato founder and CEO Deepinder Goyal posted on X. "Having said that, these vehicles are still “work in progress”, and we are in…

15 Apr

Tesla lays off more than 10% of its workforce

Business CorrespondentBUSINESS

Elon Musk-led automotive and clean energy company Tesla has send resignation letter to thousands of its employees globally. As per the media reports, the company is letting go off around 14,000 employees or about 10 % of its global workforce. According to tech publication Electrek, the company is planning to lessen Cybertruck production shift. In a report, published earlier, citing Bloomberg, said the company had asked all managers to provide a list of the "critical" employees in their teams. Tesla reportedly had a poor quarter with a reduction in deliveries year-over-year(yoy) even as it had added 46,000 vehicles to its…

14 Apr

Iran Attack On Israel: Air India Suspends Flight To Tel Aviv

Business CorrespondentBUSINESS

Air India flights have been suspended from Delhi to Tel Aviv amid the increasing tensions between Israel and Iran following Tehran's missile attack on the April 13, 2024 (Saturday) night. The Tata Group-owned carrier operates four weekly flights between Delhi and the Israeli city. Meanwhile, Israeli airlines said the operations were getting back to normal on Sunday a day after the country's airspace was closed following the overnight attack by Iranian drones and missiles. Flag carrier El Al has cancelled 15 flights to Europe, Dubai and Moscow which were scheduled for Sunday, said they have resumed operations. As per the…

13 Apr

Remove Bournvita, other beverages from health drinks category: Govt tells ecommerce sites

Business CorrespondentBUSINESS

The Ministry of Commerce and Industry has issued advisory for all e-commerce companies to exclude all drinks and beverages, including Bournvita, from the category of 'health drinks' from their sites and platforms. "National Commission for Protection of Child Rights, a statutory body constituted under section (3) of the commission for Protection of Child Rights (CPCR) Act, 2005 after its inquiry under Section 14 of CPCR Act, 2005, concluded that there is no "Health Drink defined under FSS Act 2006, Rules and regulations as submitted by FSSAI and Mondelez India Food Pvt Ltd," the ministry said a notification. This comes after…