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IndiaTV Business: Google News Feed: Digest for May 13, 2023

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Chip manufacturer Intel has confirmed that it plans to further cut its workforce to reduce costs while navigating a challenging macro-economic environment, as tech layoffs continue unabated. The company, however, did not reveal how many employees will be impacted by the upcoming layoffs.
Go First crisis: Skies are getting more cloudy for the cash-starved Go First as the aircraft lessors on Tuesday approached the Directorate General of Civil Aviation (DGCA) to deregister 45 planes. DGCA today informed that the airlines have a total strength of 55 planes.
Balu Forge Industries, a forging and machining company, on Tuesday saw its standalone net profit jump to Rs 11.5 crore for the March quarter, boosted by higher income. For the whole financial year, the Mumbai based company clocked a net profit of Rs 32 crore.
The Department of Telecommunications (DoT) has deactivated more than 2.25 lakh mobile phone numbers in Bihar and Jharkhand in the month of April as majority of the SIM cards were allegedly procured through forged documents.
The NCLT (National Company Law Tribunal) on Wednesday admitted Go First's plea for voluntary insolvency and allowed for the initiation of CIRP (Corporate Insolvency Resolution Process) proceedings. It also granted Go First protection under a moratorium from recovery by lessors, and lenders. Go First, which has been flying for more than 17 years, stopped flights on May 3 amid a financial crunch caused by the grounding of more than half of its fleet due to the non-availability of Pratt & Whitney engines.
The electric vehicle segment is growing at a fast pace with the help of incentives and subsidies being offered by the government for both manufacturers and customers. In its endeavour to push for the greater adoption of EVs and green transportation journey, Mercury Ev-Tech has announced to set up a new R&D facility and also expand battery production through its subsidiary.
Mumbai: Equity benchmark indices pared opening gains and were trading marginally lower in highly volatile trade on Thursday, dragged down by a decline in Larsen & Toubro shares and weak global markets.
Noida: Miffed by the evasive attitude of Noida builders, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has announced the auction of the properties of defaulter builders. Under this, the district administration will auction as many as 111 attached flats and shops of the Wave Mega City Center builder.
New Delhi: The Central government has exempted customs duty and agricultural infrastructure and development cess levied on crude soyabean oil and crude sunflower seed oil, subject to the conditions of tariff rate quota authorisation (TRQ) till June 30. The duty exemption is applicable only for importers holding TRQ (Tariff Rate Quota) licence for 2022-23 fiscal.  Under TRQ, a certain volume of imports are allowed at relatively low tariffs. Once the volume limit is reached, a higher tariff applies to additional imports. TRQ is allotted to importers by the Directorate General of Foreign Trade (DGFT).
Chip manufacturer Intel has confirmed that it plans to further cut its workforce to reduce costs while navigating a challenging macro-economic environment, as tech layoffs continue unabated. The company, however, did not reveal how many employees will be impacted by the upcoming layoffs.
Go First crisis: Skies are getting more cloudy for the cash-starved Go First as the aircraft lessors on Tuesday approached the Directorate General of Civil Aviation (DGCA) to deregister 45 planes. DGCA today informed that the airlines have a total strength of 55 planes.
Balu Forge Industries, a forging and machining company, on Tuesday saw its standalone net profit jump to Rs 11.5 crore for the March quarter, boosted by higher income. For the whole financial year, the Mumbai based company clocked a net profit of Rs 32 crore.
The Department of Telecommunications (DoT) has deactivated more than 2.25 lakh mobile phone numbers in Bihar and Jharkhand in the month of April as majority of the SIM cards were allegedly procured through forged documents.
The NCLT (National Company Law Tribunal) on Wednesday admitted Go First's plea for voluntary insolvency and allowed for the initiation of CIRP (Corporate Insolvency Resolution Process) proceedings. It also granted Go First protection under a moratorium from recovery by lessors, and lenders. Go First, which has been flying for more than 17 years, stopped flights on May 3 amid a financial crunch caused by the grounding of more than half of its fleet due to the non-availability of Pratt & Whitney engines.
The electric vehicle segment is growing at a fast pace with the help of incentives and subsidies being offered by the government for both manufacturers and customers. In its endeavour to push for the greater adoption of EVs and green transportation journey, Mercury Ev-Tech has announced to set up a new R&D facility and also expand battery production through its subsidiary.
Mumbai: Equity benchmark indices pared opening gains and were trading marginally lower in highly volatile trade on Thursday, dragged down by a decline in Larsen & Toubro shares and weak global markets.
Noida: Miffed by the evasive attitude of Noida builders, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has announced the auction of the properties of defaulter builders. Under this, the district administration will auction as many as 111 attached flats and shops of the Wave Mega City Center builder.
New Delhi: The Central government has exempted customs duty and agricultural infrastructure and development cess levied on crude soyabean oil and crude sunflower seed oil, subject to the conditions of tariff rate quota authorisation (TRQ) till June 30. The duty exemption is applicable only for importers holding TRQ (Tariff Rate Quota) licence for 2022-23 fiscal.  Under TRQ, a certain volume of imports are allowed at relatively low tariffs. Once the volume limit is reached, a higher tariff applies to additional imports. TRQ is allotted to importers by the Directorate General of Foreign Trade (DGFT).
Balu Forge Industries, a forging and machining company, on Tuesday saw its standalone net profit jump to Rs 11.5 crore for the March quarter, boosted by higher income. For the whole financial year, the Mumbai based company clocked a net profit of Rs 32 crore.
The Department of Telecommunications (DoT) has deactivated more than 2.25 lakh mobile phone numbers in Bihar and Jharkhand in the month of April as majority of the SIM cards were allegedly procured through forged documents.
The NCLT (National Company Law Tribunal) on Wednesday admitted Go First's plea for voluntary insolvency and allowed for the initiation of CIRP (Corporate Insolvency Resolution Process) proceedings. It also granted Go First protection under a moratorium from recovery by lessors, and lenders. Go First, which has been flying for more than 17 years, stopped flights on May 3 amid a financial crunch caused by the grounding of more than half of its fleet due to the non-availability of Pratt & Whitney engines.
The electric vehicle segment is growing at a fast pace with the help of incentives and subsidies being offered by the government for both manufacturers and customers. In its endeavour to push for the greater adoption of EVs and green transportation journey, Mercury Ev-Tech has announced to set up a new R&D facility and also expand battery production through its subsidiary.
Mumbai: Equity benchmark indices pared opening gains and were trading marginally lower in highly volatile trade on Thursday, dragged down by a decline in Larsen & Toubro shares and weak global markets.
Noida: Miffed by the evasive attitude of Noida builders, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has announced the auction of the properties of defaulter builders. Under this, the district administration will auction as many as 111 attached flats and shops of the Wave Mega City Center builder.
New Delhi: The Central government has exempted customs duty and agricultural infrastructure and development cess levied on crude soyabean oil and crude sunflower seed oil, subject to the conditions of tariff rate quota authorisation (TRQ) till June 30. The duty exemption is applicable only for importers holding TRQ (Tariff Rate Quota) licence for 2022-23 fiscal.  Under TRQ, a certain volume of imports are allowed at relatively low tariffs. Once the volume limit is reached, a higher tariff applies to additional imports. TRQ is allotted to importers by the Directorate General of Foreign Trade (DGFT).
Stock Market: Asian shares were mostly lower on Friday on looming worries over US banks and lagging demand from China, the region's major driver of growth. "Asian equities struggled for direction after weak inflation data in China pointed to weakening demand," said Stephen Innes, managing partner at SPI Asset Management. Recent data reflect very low inflation and weak credit extensions in China, which all indicate slowing growth as the initial jump from the nation dropping pandemic-related restrictions fades, he said.
Shares of leading footwear maker Lehar Footwears have yielded multibagger return to its investors. According to BSE data, the stock has yielded a whopping 171 per cent return in just 12 month. The benchmark Sensex has advanced 14 per cent during the same period.
Balu Forge Industries, a forging and machining company, on Tuesday saw its standalone net profit jump to Rs 11.5 crore for the March quarter, boosted by higher income. For the whole financial year, the Mumbai based company clocked a net profit of Rs 32 crore.
The Department of Telecommunications (DoT) has deactivated more than 2.25 lakh mobile phone numbers in Bihar and Jharkhand in the month of April as majority of the SIM cards were allegedly procured through forged documents.
The NCLT (National Company Law Tribunal) on Wednesday admitted Go First's plea for voluntary insolvency and allowed for the initiation of CIRP (Corporate Insolvency Resolution Process) proceedings. It also granted Go First protection under a moratorium from recovery by lessors, and lenders. Go First, which has been flying for more than 17 years, stopped flights on May 3 amid a financial crunch caused by the grounding of more than half of its fleet due to the non-availability of Pratt & Whitney engines.
The electric vehicle segment is growing at a fast pace with the help of incentives and subsidies being offered by the government for both manufacturers and customers. In its endeavour to push for the greater adoption of EVs and green transportation journey, Mercury Ev-Tech has announced to set up a new R&D facility and also expand battery production through its subsidiary.
Mumbai: Equity benchmark indices pared opening gains and were trading marginally lower in highly volatile trade on Thursday, dragged down by a decline in Larsen & Toubro shares and weak global markets.
Noida: Miffed by the evasive attitude of Noida builders, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has announced the auction of the properties of defaulter builders. Under this, the district administration will auction as many as 111 attached flats and shops of the Wave Mega City Center builder.
New Delhi: The Central government has exempted customs duty and agricultural infrastructure and development cess levied on crude soyabean oil and crude sunflower seed oil, subject to the conditions of tariff rate quota authorisation (TRQ) till June 30. The duty exemption is applicable only for importers holding TRQ (Tariff Rate Quota) licence for 2022-23 fiscal.  Under TRQ, a certain volume of imports are allowed at relatively low tariffs. Once the volume limit is reached, a higher tariff applies to additional imports. TRQ is allotted to importers by the Directorate General of Foreign Trade (DGFT).
Stock Market: Asian shares were mostly lower on Friday on looming worries over US banks and lagging demand from China, the region's major driver of growth. "Asian equities struggled for direction after weak inflation data in China pointed to weakening demand," said Stephen Innes, managing partner at SPI Asset Management. Recent data reflect very low inflation and weak credit extensions in China, which all indicate slowing growth as the initial jump from the nation dropping pandemic-related restrictions fades, he said.
Shares of leading footwear maker Lehar Footwears have yielded multibagger return to its investors. According to BSE data, the stock has yielded a whopping 171 per cent return in just 12 month. The benchmark Sensex has advanced 14 per cent during the same period.
The Department of Telecommunications (DoT) has deactivated more than 2.25 lakh mobile phone numbers in Bihar and Jharkhand in the month of April as majority of the SIM cards were allegedly procured through forged documents.
The NCLT (National Company Law Tribunal) on Wednesday admitted Go First's plea for voluntary insolvency and allowed for the initiation of CIRP (Corporate Insolvency Resolution Process) proceedings. It also granted Go First protection under a moratorium from recovery by lessors, and lenders. Go First, which has been flying for more than 17 years, stopped flights on May 3 amid a financial crunch caused by the grounding of more than half of its fleet due to the non-availability of Pratt & Whitney engines.
The electric vehicle segment is growing at a fast pace with the help of incentives and subsidies being offered by the government for both manufacturers and customers. In its endeavour to push for the greater adoption of EVs and green transportation journey, Mercury Ev-Tech has announced to set up a new R&D facility and also expand battery production through its subsidiary.
Mumbai: Equity benchmark indices pared opening gains and were trading marginally lower in highly volatile trade on Thursday, dragged down by a decline in Larsen & Toubro shares and weak global markets.
Noida: Miffed by the evasive attitude of Noida builders, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has announced the auction of the properties of defaulter builders. Under this, the district administration will auction as many as 111 attached flats and shops of the Wave Mega City Center builder.
New Delhi: The Central government has exempted customs duty and agricultural infrastructure and development cess levied on crude soyabean oil and crude sunflower seed oil, subject to the conditions of tariff rate quota authorisation (TRQ) till June 30. The duty exemption is applicable only for importers holding TRQ (Tariff Rate Quota) licence for 2022-23 fiscal.  Under TRQ, a certain volume of imports are allowed at relatively low tariffs. Once the volume limit is reached, a higher tariff applies to additional imports. TRQ is allotted to importers by the Directorate General of Foreign Trade (DGFT).
Stock Market: Asian shares were mostly lower on Friday on looming worries over US banks and lagging demand from China, the region's major driver of growth. "Asian equities struggled for direction after weak inflation data in China pointed to weakening demand," said Stephen Innes, managing partner at SPI Asset Management. Recent data reflect very low inflation and weak credit extensions in China, which all indicate slowing growth as the initial jump from the nation dropping pandemic-related restrictions fades, he said.
Shares of leading footwear maker Lehar Footwears have yielded multibagger return to its investors. According to BSE data, the stock has yielded a whopping 171 per cent return in just 12 month. The benchmark Sensex has advanced 14 per cent during the same period.
Retail Inflation: The government on Friday informed that the retail inflation in the country has slipped to 4.7 per cent in April from 5.66 per cent in March.
The electric vehicle segment is growing at a fast pace with the help of incentives and subsidies being offered by the government for both manufacturers and customers. In its endeavour to push for the greater adoption of EVs and green transportation journey, Mercury Ev-Tech has announced to set up a new R&D facility and also expand battery production through its subsidiary.
Mumbai: Equity benchmark indices pared opening gains and were trading marginally lower in highly volatile trade on Thursday, dragged down by a decline in Larsen & Toubro shares and weak global markets.
Noida: Miffed by the evasive attitude of Noida builders, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has announced the auction of the properties of defaulter builders. Under this, the district administration will auction as many as 111 attached flats and shops of the Wave Mega City Center builder.
New Delhi: The Central government has exempted customs duty and agricultural infrastructure and development cess levied on crude soyabean oil and crude sunflower seed oil, subject to the conditions of tariff rate quota authorisation (TRQ) till June 30. The duty exemption is applicable only for importers holding TRQ (Tariff Rate Quota) licence for 2022-23 fiscal.  Under TRQ, a certain volume of imports are allowed at relatively low tariffs. Once the volume limit is reached, a higher tariff applies to additional imports. TRQ is allotted to importers by the Directorate General of Foreign Trade (DGFT).
Stock Market: Asian shares were mostly lower on Friday on looming worries over US banks and lagging demand from China, the region's major driver of growth. "Asian equities struggled for direction after weak inflation data in China pointed to weakening demand," said Stephen Innes, managing partner at SPI Asset Management. Recent data reflect very low inflation and weak credit extensions in China, which all indicate slowing growth as the initial jump from the nation dropping pandemic-related restrictions fades, he said.
Shares of leading footwear maker Lehar Footwears have yielded multibagger return to its investors. According to BSE data, the stock has yielded a whopping 171 per cent return in just 12 month. The benchmark Sensex has advanced 14 per cent during the same period.
Retail Inflation: The government on Friday informed that the retail inflation in the country has slipped to 4.7 per cent in April from 5.66 per cent in March.
RBI governor Shaktikanta Das on Friday highlighted major elements of the Indian economy that are optimistically on the right track. The governor today (May 12) said the release of the official data gives confidence that the "monetary policy is on the right track". he also asserted that the cooling off in headline inflation to 4.7 per cent during April is "very satisfying".
Twitter boss Elon Musk on Friday announced Linda Yaccarino as the new CEO of the micro-blogging social media platform. Taking to Twitter, Musk wrote, "I am excited to welcome Linda Yaccarino as the new CEO of Twitter!"
The electric vehicle segment is growing at a fast pace with the help of incentives and subsidies being offered by the government for both manufacturers and customers. In its endeavour to push for the greater adoption of EVs and green transportation journey, Mercury Ev-Tech has announced to set up a new R&D facility and also expand battery production through its subsidiary.
Mumbai: Equity benchmark indices pared opening gains and were trading marginally lower in highly volatile trade on Thursday, dragged down by a decline in Larsen & Toubro shares and weak global markets.
Noida: Miffed by the evasive attitude of Noida builders, the Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has announced the auction of the properties of defaulter builders. Under this, the district administration will auction as many as 111 attached flats and shops of the Wave Mega City Center builder.
New Delhi: The Central government has exempted customs duty and agricultural infrastructure and development cess levied on crude soyabean oil and crude sunflower seed oil, subject to the conditions of tariff rate quota authorisation (TRQ) till June 30. The duty exemption is applicable only for importers holding TRQ (Tariff Rate Quota) licence for 2022-23 fiscal.  Under TRQ, a certain volume of imports are allowed at relatively low tariffs. Once the volume limit is reached, a higher tariff applies to additional imports. TRQ is allotted to importers by the Directorate General of Foreign Trade (DGFT).
Stock Market: Asian shares were mostly lower on Friday on looming worries over US banks and lagging demand from China, the region's major driver of growth. "Asian equities struggled for direction after weak inflation data in China pointed to weakening demand," said Stephen Innes, managing partner at SPI Asset Management. Recent data reflect very low inflation and weak credit extensions in China, which all indicate slowing growth as the initial jump from the nation dropping pandemic-related restrictions fades, he said.
Shares of leading footwear maker Lehar Footwears have yielded multibagger return to its investors. According to BSE data, the stock has yielded a whopping 171 per cent return in just 12 month. The benchmark Sensex has advanced 14 per cent during the same period.
Retail Inflation: The government on Friday informed that the retail inflation in the country has slipped to 4.7 per cent in April from 5.66 per cent in March.
RBI governor Shaktikanta Das on Friday highlighted major elements of the Indian economy that are optimistically on the right track. The governor today (May 12) said the release of the official data gives confidence that the "monetary policy is on the right track". he also asserted that the cooling off in headline inflation to 4.7 per cent during April is "very satisfying".
Twitter boss Elon Musk on Friday announced Linda Yaccarino as the new CEO of the micro-blogging social media platform. Taking to Twitter, Musk wrote, "I am excited to welcome Linda Yaccarino as the new CEO of Twitter!"
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