Shobha Gangwal, wife of IndiGo co-founder Rakesh Gangwal, is set to sell a 4% stake worth ₹2,930 crore ($353 million) in the parent company – InterGlobe Aviation Ltd – through a block deal on Thursday, as per a report by Mint. InterGlobe Aviation Ltd, which operates IndiGo, was founded byContinue Reading
Bloomberg | | Posted by Ritu Maria Johny Elon Musk is closing in on recapturing his title as the world’s richest person since falling behind Bernard Arnault in December, thanks to Tesla Inc.’s 70% rise this year. It may take a bit longer for Musk to overtake the French luxury-goodsContinue Reading
A UK man, who was pressured to quit his job for being ‘bald’, has won ₹70 lakh or £71,000 as damages for workplace discrimination. According to a report by British tabloid The Independent, Mark Jones, a sales director at Tango Network, was encouraged to leave the job as his bossContinue Reading
The State Bank of India (SBI) has hiked interest rates by up to 25 basis points (bps) on fixed deposits (FDs) of less than ₹2 crore, HT’s sister publication Mint has reported. The hike in interest rates comes days after the Reserve Bank of India (RBI) raised the policy repoContinue Reading
Air India’s record aircraft deal has put the Tata Group-owned airline in the league of aspiring global carriers. On Tuesday, it provisionally agreed to acquire almost 500 jets from Airbus and Boeing to take on domestic and international rivals. Striking the largest ever deal by one airline took months ofContinue Reading
Two large companies within India’s embattled Adani Group are likely to repay their short-term commercial paper (CP) debt as they come due over the next few months, instead of rolling them over as is normal, two merchant bankers and a company official directly familiar with the matter said. The twoContinue Reading
The wholesale price-based inflation eased for the eight consecutive month to 4.73 per cent in January on easing prices of manufactured items, fuel and power. The wholesale price-index (WPI) based inflation rate was 4.95 per cent in December 2022 and 13.68 per cent in January 2022. Inflation in food articles,Continue Reading
Pakistanis are queuing for hours to grab coffee and pastries from Canadian chain Tim Hortons, which opened its first outlet in the South Asian country this week just as its economic crisis took a turn for the worse. In less than a month, Pakistan’s currency has lost more than aContinue Reading
Adani group said on Tuesday that its companies face no material refinancing risk, or near-term liquidity issues, in its latest attempt to calm investors spooked by a U.S. short-seller’s critical report on its business practices. Led by billionaire Gautam Adani, the group’s seven listed companies bearing his name have togetherContinue Reading
Tata Group-owned Air India has agreed to buy 250 jets from Airbus, part of a massive deal for 470 planes, underlining the surging demand for air travel fueled by the country’s swelling middle class. The virtual event was attended by Prime Minister Narendra Modi and French President Emmanuel Macron, signallingContinue Reading