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The Economic Times
The Economic Times Air India Express to bid adieu to business class seats next year, will turn into economy only airlines
Air India Express is transitioning to an all-economy class configuration for its narrow-body aircraft. Starting in April 2025, the airline will begin reconfiguring planes to remove business class seats. This move aligns with the airline's focus on connecting smaller cities and towns with major hubs, as well as expanding its international network.
The Economic Times B2C commerce startup Wheelocity raises $15 million from Lightspeed, others
The new funding will support Wheelocity’s plans to expand operations across 20,000 towns and villages in southern India over the next year, aiming to reach a user base of 10 million.
The Economic Times IndiGo working with civil aviation ministry to extend wet lease of Boeing 777 planes
IndiGo is seeking to extend its wet lease of two Boeing 777 aircraft from Turkish Airlines beyond the current November 14th deadline. The airline, facing capacity constraints due to grounded aircraft, utilized the wide-body planes to meet surging international travel demand on its Delhi and Mumbai to Istanbul routes.
The Economic Times As IPO nears, Swiggy hires two more Flipkart executives
Swiggy has recruited two senior executives, Hari Kumar G and Shalabh Shrivastava, from Flipkart to bolster its leadership team ahead of its IPO. Kumar will oversee Instamart as Senior Vice President and Chief Business Officer, while Shrivastava will optimize product and operations for Swiggy's delivery service as Senior Vice President.
The Economic Times Samsung to expand chip packaging facilities for HBM
Samsung Electronics will expand its semiconductor package facilities in South Chungcheong Province to boost production of high bandwidth memory (HBM) chips, company officials said on Tuesday.
The Economic Times Semiconductor sector to create 1 million jobs in India by 2026, says report
As India is moving to become a semiconductor manufacturing hub, the industry is poised to generate 1 million jobs across varied sectors by 2026, a report said on Monday. This demand is expected to be seen in various categories, including an estimated 3,00,000 jobs in chip semiconductor fabrication, around 2,00,000 positions in ATMP (Assembly, Testing, Marking, and Packaging), and additional roles in chip design, software development, system circuits, and manufacturing supply chain management, said a report by talent solutions company NLB Services.
The Economic Times Vedanta Ltd. Reports Highest-Ever 1H EBITDA at $2.47 Billion
Vedanta Limited reported its highest-ever half-year EBITDA of $2.47 billion, a 46% year-over-year increase. The company attributed the strong performance to cost efficiency, volume growth, and favorable commodity prices. Vedanta expects continued growth in the second half of the year as growth projects come online and historically experiences stronger revenue generation in the latter half of the year.
The Economic Times Kamdhenu PAT grows to Rs 16 cr in Q2; board approves share split in 1:10 ratio
The board of the company also approved the sub-division or split of equity shares into a ratio of 1:10.
The Economic Times Commvault strengthens India operations with Coimbatore facility
Announcing the Coimbatore facility, Commvault in a release said it will also serve as an innovation hub for engineering and technical talent, focusing on supporting regulatory compliance and AI advancements.
The Economic Times Ambuja Cements seeks CCI nod to acquire majority stake in Orient Cement
According to a CCI notice, the proposed transaction is a two-stage acquisition process, initiated through two share purchase agreements (SPAs) on October 22, 2024, will see Ambuja Cements initially acquiring a 46.80 per cent stake in Orient Cement.
The Economic Times Zetwerk is said to consider raising $1 billion in Indian IPO
The Bangalore-based firm, backed by investors such as Peak XV Partners and Lightspeed India Partners, has held talks with investment banks to help prepare for a potential IPO in Mumbai next year, as per sources.
The Economic Times Plans afoot to put LLPs and cos on par in accounting
The Indian government is considering implementing new accounting standards for large limited liability partnerships (LLPs) to enhance transparency and accountability. These standards, aligned with those for companies, aim to improve financial disclosures and attract more investors to LLPs.
The Economic Times GST dept targets over 1k suspicious firms, Rs 124 cr tax evasion uncovered
A total of 1,057 dubious firms were detected by the GST department of which 205 firms were investigated by Madhya Pradesh team through data analytics whilst a list of 852 firms were communicated by other states.
The Economic Times GST Council call on insurance next month
The GST Council is set to discuss reducing the GST on term insurance plans to zero and offering similar relief for health insurance, particularly for senior citizens and those seeking coverage up to Rs 5 lakh. However, broader GST rate rationalization faces resistance from states concerned about revenue loss, potentially impacting decisions on essential goods and luxury items.
The Economic Times Integrated Air India-Vistara entity's first flight takes off from Doha
The first flight of the integrated Air India-Vistara entity took off for Mumbai from Doha on Monday night. The flight operating with the code 'AI2286' departed Doha at around 10.07 pm local time and is expected to land in Mumbai early on Tuesday morning.
