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The Economic Times
The Economic Times RHI Magnesita India Ltd Appoints Azim Syed as a Chief Financial Officer
Azim Syed appointment as the new CFO & CIRO sees another step from RHI Magnesita India Ltd in strengthening it's leadership team and commitment to fostering growth
The Economic Times India Inc's revenue growth likely moderated to 4-6% in March quarter, weakest since September 2021
India Inc navigates a moderate growth trajectory with a 4-6 per cent revenue increase in the January-March quarter, as revealed by a recent Crisil report. While consumer discretionary sectors drive growth, margin expansion underscores a corporate focus on profitability amidst evolving market dynamics.
The Economic Times ICAI seeks tax incentives for entities engaged in green energy projects
One of the proposals is for having a separate provision for deduction of expenses relating to education of girl child both under the default tax and alternative tax regimes.
The Economic Times Semiconductors likely in for another massive boost as India tries to make up for lost time in chipmaking
The 76,000-crore incentive package was launched in December 2021 to support companies making semiconductors and investing in them. That amount has been nearly exhausted, necessitating a fresh boost for India's big chip plan. And indications are that the coming plan will likely be much bigger in scale.
The Economic Times Indian economy on upward trajectory: NCAER's cites favorable above-normal monsoon forecast
The NCAER's April 2024 Monthly Economic Review (MER) highlights the Indian economy's robust performance, citing a 16-year high in the PMI for manufacturing and record UPI transactions. With positive global forecasts and decreasing inflation, the economy looks poised for growth, though online hiring activity shows a slight moderation.
The Economic Times Travel, tourism sector expected to add 5.82 cr jobs in India by 2033: NLB Services
The travel and tourism sector is poised for significant growth, expected to create 5.82 crore jobs in India by 2033. Despite challenges, the sector saw a quick recovery post-pandemic. In 2020, it accounted for 39 million jobs, constituting 8% of the nation's workforce. Talent demand in tourism surged by 44% in August 2023, with 1.6 million additional jobs expected in 2023. This growth trend is projected to continue, with the sector set to add 58.2 million jobs by 2033.
The Economic Times In top gear: Telecom parts output crosses Rs 45,000-crore milestone
Telecom equipment manufacturing and exports have become a significant success story, aided by the government's PLI scheme. FY24 saw telecom equipment production crossing ₹45,000 crore, with exports around ₹10,500 crore and over 19,500 direct jobs created. India has shifted from being a telecom gear importer to a manufacturer, driven by Make-in-India and the PLI scheme.
The Economic Times UltraTech, AM Mining, others eye Vadraj Cement
AM Mining India, a joint venture between ArcelorMittal and Nippon Steel, Oaktree Capital-backed India Opportunities XII Investments, and Nirma group-backed Nuvoco Vistas Corporation submitted expressions of interest (EoIs). Naveen Jindal group company called Jindal Panther Cement, and PN Group-promoted CN Infrabuild also gave separate EoIs.
The Economic Times Auto Industry ramps up C-suite hiring amid post-pandemic sales surge
The Indian automobile industry is experiencing a surge in hiring for C-suite executives from diverse consumer-facing sectors to address a talent shortage at the top level amid a post-pandemic sales rebound. Over the past 12-18 months, senior executives from FMCG, consumer durables, and retail backgrounds have transitioned to carmakers like Maruti Suzuki, Bajaj Auto, and TVS Motor Company, traditionally known for hiring engineers and technology experts.
The Economic Times Tatas to speed up Air India-Vistara merger
Tata Sons is hastening the integration of Air India and Vistara to operate as a single airline by year-end. Both airlines have initiated merging their operations manuals and transferring flying crew. This move simplifies Tata's aviation business, merging Air India and Vistara into a full-service airline and integrating AirAsia India and Air India Express into a low-cost carrier. While Air India's CEO had suggested that Vistara's brand identity wouldn't change before 2025, the merger could happen sooner.
The Economic Times Paramount Global replaces CEO Bob Bakish with a troika of executives
Bob Bakish will be replaced by a troika of executives who will form a new "Office of the CEO." The group includes George Cheeks, the CEO of CBS; Chris McCarthy, CEO of Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, the CEO of Paramount Pictures.
The Economic Times Paytm Payments Bank’s wallet business fading fast as restrictions bite
Regulatory actions cripple Paytm Payments Bank's mobile wallet business, leading to a significant decline in transactions and value. Competitors like Mobikwik, PhonePe, Amazon Pay, and Slice experience growth in their wallet businesses.
The Economic Times Wipro’s new CEO Srinivas Pallia to get max pay of $7 million
The IT major in a filing with BSE also said that the former CEO, Thierry Delaporte will be paid $4.33 million in the form of cash compensation and applicable social security contributions, subject to appropriate deductions. Meanwhile another exchange filing also shows that Delaporte sold all his stocks (about 4,72,292 Wipro shares) worth Rs 21.4 crore this month.
The Economic Times Google lays off employees from key teams ahead of developer conference: report
Layoffs at Google's Flutter, Dart and Python teams come weeks after the tech giant terminated staff from its real estate and finance teams as well. Google has said the layoffs are not company-wide.
The Economic Times Temasek sells 10% stake in Tata Play to Tata Sons for Rs 835 crore
Tata Play, India's largest DTH firm with 21 million subscribers, has intimated the Ministry of Information and Broadcasting (MIB) about the change in shareholding, according to one of the persons, who did not wish to be identified. Under the DTH rules, licence holders are required to inform the ministry about a change in shareholding or partnership or foreign direct investment pattern.
