Regulatory actions have been taken after serious safety breach involving improper crew assignment on international flight.
One of the major initiatives under consideration is Foxconn's new mobile phone assembly unit, known as Project Elephant, to be established in Karnataka. With a substantial investment of ₹22,000 crore, the project aims to create over 40,000 jobs.
The company's decision to implement these layoffs is part of a broader restructuring initiative aimed at reallocating resources to key growth areas and enhancing operational efficiency. Cisco has stated that this restructuring will affect about 7% of its total workforce.
Founded in 2014, Dunzo has faced severe cash flow problems, high losses, and difficulties managing expenses and payroll, leading it to shift focus from quick commerce to B2B services. Reliance, which holds over 25% of Dunzo and invested $200 million, might acquire the startup at a reduced valuation.
Hindenburg Research's latest report alleges SEBI Chairperson Madhabi Puri Buch and her husband, Dhaval Buch, were involved in offshore funds tied to the Adani financial scandal. The report also highlights past ties between IIFL, involved in Wirecard’s scandal, and the Buchs’ investments. The SEBI chairperson has expressed willingness to provide financial documents and criticized the report as baseless. Political reactions include calls for a Joint Parliamentary Committee investigation into the allegations and SEBI's handling of the Adani case.
Despite stock market declines and some economic uncertainties, the Reserve Bank of India (RBI) aims to manage inflation and support growth, projecting a 7.2% increase for the year. The stable rate benefits borrowers by keeping Equated Monthly Instalments (EMIs) steady, though loans tied to the marginal cost of funds-based lending rate (MCLR) might still see rate hikes. Future Monetary Policy Committee (MPC) meetings are scheduled for Oct 7-9, Dec 4-6, in 2024, and Feb 5-7, 2025.
The resignation and departure of Bangladesh Prime Minister Sheikh Hasina amid violent protests have significantly disrupted India-Bangladesh trade, halting truck movement at key border points. The crisis has led to an estimated $300 million loss in export trade and nearly stalled exports. Businesses in Indian border states report over 80% decline. The situation might also delay a potential free trade agreement between the two nations.
US pushes Venezuelan oil to India as Russian crude imports plunge under tariff tensions
IIIT Delhi partners with Marvell to offer AI networking systems course
Fadnavis pledges unwavering support to NCP as Sunetra Pawar prepares to be sworn in Deputy CM
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Vaishno Devi medical college scrapped, students dispersed across seven GMCs
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SC puts 2026 UGC equity rules on hold, flags ‘vague’ caste bias definition
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