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< Back MSC IRINA, world’s largest container ship, docks in India 10 Jun 2025 It was launched in March 2023 and started its journey in April 2023 from China. IRINA, built in China and operated by Mediterranean Shipping Company (MSC), has docked in Southeast Asia for the first time. It is currently in Vizhinjam International Seaport in Thiruvananthapuram, Kerala. It has been to South Korea, China, and Singapore since it began sailing in April 2023. The IRINA sails under the Liberian flag due to its favourable maritime regulations and tax benefits. It is almost 400 meters long and 61.3 meters wide, four times the length of a FIFA football field. It boasts a capacity of 24,346 TEUs, the largest for a container ship, and 150 TEUs more than its predecessor, OOCL Spain. A post-Panamax ship carries up to 10,000 TEUs. IRINA has docked in Southeast Asia, highlighting India’s capability to handle Ultra Large Container Vessels (ULCVs). It can stack containers up to 26 tiers high and has energy-saving equipment, allowing it to reduce carbon emissions by up to 4%. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back Vistara cancels 50 flights in a day, reports delays as pilots call in sick 2 Apr 2024 Pilots are collectively protesting the new contract terms, revised salary structure of Vistara’s upcoming merger with Air India. Tata-Singapore Airlines joint venture, Vistara, had to cancel 50 departures and report delays in over 150 flights due to pilots protesting against its merger with Air India. The new contract aligns with Tata Group Airlines’ compensation structure, offering them a fixed salary for 40 hours instead of the previous 70. Vistara pilots are uncertain of retaining their seniority after the merger. Vistara issued a notice on March 15th asking its pilots to accept the contract terms by the day’s end or risk losing a one-time payout and indicating a lack of interest in joining Air India post-merger. Vistara is operating wide-body aircraft B787-9 Dreamliner and A321neo and combining flights to accommodate passengers. It had to fly during night hours to abide by the DGCA rule that mandates more rest for pilots flying between 12-5 am. DGCA and Civil Aviation Ministry have sought details of delays and cancellations from Vistara. Previous Next

< Back Trump’s $5 million Gold Card may replace EB-5 visa 27 Feb 2025 It will be implemented if the Trump administration receives Congress and the Senate approval. The EB-5 visa introduced by the Congress in 1990, allows foreigners to invest $800,000-1 million in incorporating a company in the US and employing at least 10 people. Between September 2021-22, 8,000 people obtained this visa. However, the EB-5 visas carry the risk of fraud and difficulty in verifying the source of funds. The Trump administration plans to introduce the ‘gold card’ to replace EB-5 within two weeks. It is a green card offering permanent legal residency, or US citizenship, and cancels any taxes on foreign income earned outside the US. The $5 million citizenship fee will ensure only the ultra-rich apply. For business owners, tax savings on significant foreign income can easily cross the $5 million threshold within a few years. Trump aims to reduce the $35-trillion government deficit with it. However, EB-5 is a law. He will have to amend the citizenship law to introduce gold cards. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back EU’s Sustainable Products Regulation to hurt Indian exports 24 Jun 2024 Ecodesign for Sustainable Products Regulation (ESPR) mandates stringent sustainability checks for imported products. This is bound to impact Indian exports to Europe significantly. The European Union recently passed a new regulation, the ESPR, to monitor the sustainability of imported products. It also mandates a Digital Product Passport for easier traceability of items. It will come into effect in January 2026 and begin monitoring items like textiles, mattresses, furniture, iron and steel, tyres, paints, detergents, and lubricants. By 2030, it will cover all EU imports. Global research group Global Trade Research Initiative (GTRI) believes this initiative will hurt exports from various countries. These countries will have to change their production processes to meet the ESPR sustainability criteria, which can lead to higher production and compliance costs, thus reducing the pricing advantage Indian exporters enjoy. To be compliant, Indian firms must ascertain their products' environmental impact throughout their life cycle, ensure ESPR adoption in their processes, set up compliance policies and measures, and provide the necessary sustainability data for Digital product Passports. Previous Next

< Back Extended detention time raising logistics costs in India 10 Jan 2025 Detention is the time a truck spends waiting for loading or unloading beyond the agreed period. The Indian logistics industry suffers a prolonged detention period when trucks are forced to wait for hours or even days for loading or unloading. Some firms hold the trucks and use them as extended warehouses in case of a paucity of space, while some refuse to pay for the waiting hours. This is an additional nuisance for the logistics sector, which already bleeds due to operational and fuel costs and inadequate infrastructure. Such delays lead to severe underutilisation of trucks rendered useless as extended warehouses. It also raises operational costs and leaves drivers without food or basic amenities, often under harsh conditions. FMCG and consumer goods industries face the maximum brunt. To reduce the burden on drivers, some companies, like Fr8, have raised their detention charges to pay the drivers more. American truckers receive between USD 50-80 per hour towards detention charges, while in India, the rate is around INR 1,000-1,500 daily. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp, LinkedIn, Facebook, X, and Instagram. Previous Next

< Back Reader’s Digest UK closes after 86 years 18 May 2024 The iconic magazine succumbed to the financial pressures of the competition in today’s ruthless publication scenario. Reader’s Digest was first published in the US in 1922 and in the UK in 1938. During its peak, the magazine circulated two million copies in the UK. In 2000, it was selling over a million copies per month. By the second half of 2013, its sales had plummeted to less than 187,000 copies per month, 89.3% of which were paid copies. Better Capital acquired Reader’s Digest UK in April 2010 for £13-14 million and further invested £9 million. However, the magazine struggled financially and was saved by Mike Luckwell, an entrepreneur known for creating the hit kids’ TV show Bob The Builder . He bought the magazine for just one pound! Reader’s Digest set the benchmarks of direct marketing strategies in the publishing industry. It carved a niche in targeted mail campaigns and sweepstakes. However, the magazine failed to adapt to changing consumer preferences and the dynamism of the media industry. Previous Next

< Back Zepto targets ₹10,000 cr sales, profitability within one year Ishita Nigam 11 Oct 2023 The quick commerce platform became the first unicorn of 2023. It aims to turn profitable within 10-12 months and go public after that. Quick commerce platform Zepto, which launched operations in 2021, aims to achieve ₹10,000 crore in sales and profitability in the next 12 months. It plans to go public after that to become the youngest Indian company to do so within five years of launch. Zepto raised $200 million in fresh capital at a $1.4 billion valuation in August to become the first unicorn of 2023. It plans to expand its store count by 40% in existing markets and launch fresh offerings like Zepto Café to deliver snacks and beverages from its dark stores within 20 minutes. It has tied up with quick service restaurants like Blue Tokai Coffee Roasters and Chaayos for serving fast meals. Started by 21-year-old Aadit Palicha and Kaivalya Vohra, Zepto operates in 7 cities from 220 dark stores. Earlier this year, it launched the Zepto Bloom app for farmers to facilitate direct produce sales from farmers. Previous Next

< Back Madhya Pradesh launches intrastate air taxi service 14 Jun 2024 The service, called PM Shri Paryatan Vayu Seva, is available at 50% off for 30 days from June 13th. On June 13, Madhya Pradesh Chief Minister Mohan Yadav launched the first PM Shri Paryatan Vayu Seva from Bhopal to Jabalpur. The one-way trip will take 55 minutes compared to four hours by road. The service will connect eight cities in Madhya Pradesh- Bhopal, Jabalpur, Indore, Gwalior, Singrauli, Ujjain, Khajuraho, Panchmarhi, and Rewa. The state government partnered with a private firm, Jet Serv Aviation Private Limited (Flyola), to launch this service. Passengers can book the service digitally or via the booking counter at Indore, Bhopal, and Jabalpur airports. Twin-engine planes will have a capacity of six passengers. Depending on the response, the capacity will be increased to 11-seater and 20-seater aircraft. Ticket prices are kept at ₹9,000 from Bhopal to Jabalpur and ₹15,000 from Bhopal to Khajuraho. Passengers can book the entire private charter or on a seat-sharing basis. The CM will inaugurate this service in Ujjain on June 16th. Previous Next

< Back Payment Aggregators cutting ties with Payment Orchestrators 7 Feb 2025 In Dec 2024, PhonePe ended its association with all third-party payment orchestrators. Razorpay and Cashfree announced it in January 2025. Payment gateways move away from third-party payment orchestrators to gain complete control and improve the security of transactions conducted via their apps and platforms. In December 2024, PhonePe announced its decision to offer direct integration with merchants, thus signalling the end of its association with Juspay. In January 2025, Razorpay and Cashfree announced the same. Juspay enjoyed a monopoly in the third-party payment orchestration market for many years. It is currently in the middle of a $150 million funding round that could propel it to the ‘unicorn’ status. Payment orchestrators route transactions across different payment aggregators or gateways depending on the latter’s commission rates, transaction success rate, and mode of payment. Merchants need a licensed payment aggregator to allow digital transactions using modes like UPI, debit or credit cards, buy now pay later, or net banking. Many merchants relied on Juspay to integrate with different payment aggregators. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp, LinkedIn, Facebook, X, and Instagram. Previous Next

< Back 10 companies who contributed to Ayodhya Ram Mandir Consecration Ceremony 22 Jan 2024 Nifty hit a record high of 22,124 on January 16th, which is being touted as a divine coincidence due to its connection to the date of the temple’s consecration on 22-1-24. As NSE rallied this month to achieve record highs, ten companies who contributed to the consecration ceremony at the Ayodhya Ram Mandir enjoyed the limelight today. Among these are IRCTC, the online railway ticket booking platform, and SIS Limited, which signed an agreement with Ram Mandir Trust to provide security personnel at the complex. Pakka Limited provided compostable and disposable cutlery for today’s ceremony. Kamat Hotels plans to inaugurate a new hotel with 50 rooms in Ayodhya this month and two more in the near future. Praveg has opened a luxury tent resort in the city with a capacity of 30 tents and one restaurant. Apollo Sindoori Hotels is constructing a multi-level car park, and Genesys is building the official map for Ayodhya city. Allied Digital is providing CCTV surveillance. EaseMyTrip and Thomas Cook, the online tourism portals, have crafted special Ayodhya Ram Mandir trip packages. Previous Next

< Back 400 Indian companies behind Chandrayaan 3 success Ishita Nigam 24 Aug 2023 The unprecedented success of Chandrayaan 3 will boost India's position as a cost-effective satellite launcher. Around 140 Indian startups in the aerospace domain will benefit. August 23rd, 2023, went down in history as the day India brought the moon closer. India became the only fourth nation to achieve soft landing on the moon and the first country to safely land on its southern side. And in just ₹615 crores! The credit for this unprecedented success goes to those 400 Indian companies, including 140 startups that contributed to the unmanned spacecraft's building, launch, and landing. Of these, the listed companies include Larsen & Toubro, Hindustan Aeronautics Limited, Bharat Heavy Electrical Limited and its Welding Research Institute, Walchandnagar Industries, Centum Electronics, Linde India, Godrej Aerospace, and Mishra Dhatu Nigam. Some homegrown startups involved were Paras Defence and Space Technologies, MTAR Technologies, Ankit Aerospace, and Ananth Technologies. This feat will trigger commercial and collaboration opportunities for ISRO and private Indian players involved in the mission. India is expected to become a $77 billion space tech market by 2030. Previous Next

< Back Deepinder Goyal, ex-Zomato COO Surobhi Das launch LAT Aerospace 13 Mar 2025 LAT Aerospace plans to develop low-cost, short takeoff and landing (STOL) airplanes having up to 24 seats. Goyal and Zomato ex-COO, Surobhi Das, announced the launch of their startup LAT Aerospace on March 12th . The startup will build lightweight, fuel-efficient STOL airplanes for regional travel up to 1,500 km. These small aircraft can take off and land on compact areas like parking lots, thus eliminating the need for extensive airport infrastructure. STOLs can help connect remote towns through cheaper air travel. LAT’s aircraft will use hybrid propulsion systems as a sustainable alternative. It will compete with ATR, the French-Italian airplane maker, and Bombardier, the Canadian manufacturer that supplies jets to IndiGo and SpiceJet. Goyal invested $20 million and will assume the non-executive role of an investor-mentor. Das joined Zomato in 2011 and quit in November 2023 to join Blinkit’s leadership team. They are actively hiring for engineer, builder, and designer profiles in aircraft design, turbo machinery, aerodynamics, hybrid propulsion systems, and materials and composites domains. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next