< Back After record profits, airlines facing downwind due to rising costs 13 Nov 2023 Rising fuel costs, forex volatility, and stagnant demand are pulling the airlines back to the red compared to last year. IndiGo had posted record profit figures of ₹2,300 crore in the second half of FY2023. Last year, several Indian carriers were enjoying the momentum carried forward from the second half of FY2023. IndiGo moved from a loss of ₹2,600 crore to a record profit of ₹2,300 crore in the second half of FY2023. In the first quarter of FY 2024, IndiGo moved past last year’s figures to post ₹3,000 crore profit. It cited better external factors and initiatives for operational improvements as key reasons. However, Indian carriers are now facing a downwind due to skyrocketing fuel costs, lower yields, still demand, and forex volatility. In the second quarter of the current financial year, IndiGo posted a profit of ₹188 crore compared to the ₹3,000 crore profit in Q1. Besides, other factors contributing to the airline woes are charges like the aircraft landing fee, parking fee, and Airport Development Fee (ADF) per passenger, which have soared very high in metro cities. Previous Next

< Back Wipro, Warburg Pincus to acquire Harman’s India arm 14 Aug 2025 The duo is in advanced stages of acquiring the audio solutions giant Harman’s Digital Transformation Solutions (DTS) business. India’s Wipro Technologies and the American private equity firm Warburg Pincus are in advanced negotiations with US-based Harman. The deal may value its DTS arm at ₹4,375 crore. Harman has been a wholly owned subsidiary of Samsung Electronics since 2017, and owns brands like JBL, Infinity, and Harman Kardon. Auto segment, including car audio systems, in-vehicle infotainment, and Advanced Driver Assistance Systems (ADAS), are Harman’s primary revenue driver. Its DTS products are widely used across India’s healthcare, industrial, and communications sectors. Harman has been operating in India since 2008. It is present across eight cities and employs 9,000 people. It has had a strategic engineering collaboration with Wipro Technologies, including the Harman India Development Centre at the latter’s Bengaluru and Chennai facilities. In India, Warburg is a stakeholder in Perfios, a B2B SaaS provider for the BFSI sector. Never miss another post from SalestorsNews150. Follow Salestors on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back Musk’s X sues Indian govt for unlawful content regulation 21 Mar 2025 The microblogging site moved the Karnataka High Court, alleging arbitrary censorship by the central and state governments. X accused the government of controlling online content without judicial oversight. The lawsuit raises concerns over the central government’s interpretation of Section 79(3)(b) of the Information Technology (IT) Act 2000. X maintains these notifications ignore the procedural safeguards set by the Supreme Court under Section 69A, which allows the Central government to order the blocking of content if deemed necessary for sovereignty, security, public order, or to prevent incitement. It argues that Section 79(3)(b) simply allows the government to hold the service providers and social media apps liable to remove unlawful content promptly. Reports suggest the government orders under Section 79(3)(b) were notifications about illegal content, not direct blocking orders. X also opposes the government’s centralised ‘Sahyog’ platform for issuing such notices, calling it a ‘censorship portal’. In 2022, X sued the government over blocking orders under Section 69A, claiming that the orders violated the right to free speech. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

L’entité fusionnée, évaluée à 3,7 milliards de dollars, s’appellera Getty Images Holdings, Inc. < Back Getty, Shutterstock annoncent leur fusion L’entité fusionnée, évaluée à 3,7 milliards de dollars, s’appellera Getty Images Holdings, Inc. Mardi, Getty Images et Shutterstock ont annoncé leur décision de fusionner et de créer une nouvelle entité, Getty Images Holdings, Inc. L’entité fusionnée sera évaluée à 3,7 milliards de dollars sur la base des cours de clôture des actions le 7 janvier. Les actionnaires de Getty détiendront 54,7 % du capital de la nouvelle société, tandis que ceux de Shutterstock en détiendront 45,3 %. Mark Getty, président de Getty Images, et Craig Peters, directeur général, dirigeront la nouvelle entité. Getty possède également les marques iStock et Unsplash. Elles ont décidé de fusionner pour créer un fournisseur de contenu visuel plus fort, capable de relever les défis posés par les outils d’IA générative qui peuvent produire des images d’haute qualité à partir de simples invites textuelles. À l’avenir, Getty pourrait décider d’accorder des licences d’utilisation de son contenu aux créateurs d’IA pour l’entrainement des modèles de nouvelle génération. Ne manquez pas un autre article de SalestorrsNouvelles150. Suivez Salestorrs sur WhatsApp , LinkedIn , Facebook , X , et Instagram . Previous Next

< Back Shankh Air receives the Civil Aviation Ministry's nod to start operations 25 Sept 2024 It is now seeking approval from the Directorate General of Civil Aviation (DGCA) to start flight operations. Shankh Air will be the first scheduled carrier from Uttar Pradesh, with its hubs at Lucknow and Noida and operations from major cities like Agra, Varanasi, and Gorakhpur. It will cover major inter- and intra-state routes to popular cities with limited direct flight options. It will be a full-service budget airline with a twin-class configuration operating Boeing New Generation 737-800 narrow-body fleet. It will be the first carrier to operate from Noida’s Jewar Airport and offer its passengers regional cuisines. The airline got an NOC from the Union Aviation Ministry, which will be valid for three years. Shankh Air’s Chairperson, Shravan Kumar Vishwakarma, who comes from the infrastructure and trading industries, now plans to grow in aviation. Shankh Air’s co-founders and senior management met with Noida Airport’s CEO, Christoph Schnellmann, and COO, Kiran Jain, in March to discuss a partnership supporting UP’s plans to enhance air connectivity in the state. Previous Next

< Back 45-day Mahakumbh begins today 13 Jan 2025 Over six million devotees took a holy dip at Sangam in Prayagraj, Uttar Pradesh, today. January 13th marked the beginning of the 45-day-long Mahakumbh, organised every twelve years. It will end on February 26th. This year’s Mahakumbh is notable for the rare celestial alignment occurring every 144 years. Visitors from across India and different countries will take a dip in Sangam, the convergence point of the Ganga, Yamuna, and the mystical Saraswati rivers. The Mahakumbh is the largest peaceful gathering of people globally. Around 400 million devotees are expected to attend the festival. In 2017, UNESCO inscribed the Kumbh Mela on its Representative List of the Intangible Cultural Heritage of Humanity, a collection of cultural practices recognised by communities and individuals. A million devotees will observe the Kalpvas ritual by fasting, planting Tulsi, bananas, and barley, and embracing a disciplined lifestyle. Steve Jobs’ widow, Laurene Powell, is attending the Mahakumbh for a month and has been bestowed with a Hindu name, “Kamala”, out of respect. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp, LinkedIn, Facebook, X, and Instagram. Previous Next

< Back IRCTC Tatkal ticket booking will need Aadhaar from July 1 12 Jun 2025 Aadhaar-based OTP verification will be mandatory for online Tatkal bookings starting July 15th. Indian Railways announced modifications to the Tatkal booking system to curb misuse and make Tatkal tickets more accessible. From July 1st, only users authenticated with Aadhaar will be able to book Tatkal tickets on IRCTC’s website and app. From July 15th, Tatkal bookings made via the computerised Passenger Reservation System (PRS) and authorised agents will need OTP verification from the mobile number provided at the time of the booking. Indian Railways has also barred authorised agents from making bulk bookings during the critical window on the opening day of the Tatkal tickets. These agents cannot book Tatkal tickets from 10 am to 10:30 am for AC classes, and 11 am to 11:30 am for non-AC classes. Indian Railways has asked passengers to link their Aadhaar numbers with IRCTC user profiles. It has instructed IRCTC and the Centre for Railway Information Systems (CRIS) to implement the modifications. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back Competition catches up with Tesla, global sales drop 13% 4 Apr 2025 Rising competition in the EV market, an ageing lineup, and a backlash against Musk’s deepening political engagements are touted as the reasons. Tesla seems to be losing the race to fierce competition from established brands and emerging electric vehicle (EV) makers like BYD. BYD surpassed Tesla’s sales in Europe in 2024 by introducing ultra-fast charging and more affordable EV models. BYD sold 4.3 million compared to Tesla’s 1.79 million vehicles in 2024. Tesla also faced a dent in its reputation in Europe after Musk’s open support for controversial political figures, including Germany’s Alternative for Germany (AfD). A lack of any significant upgrades in its Model 3 and Model Y gave consumers another reason not to buy Tesla. As per the European Automobile Manufacturers Association (ACEA), Tesla’s new registrations declined by 49% to just over 19,000 units, and deliveries worldwide fell to 336,681 units between January and February 2025, compared to 387,000 in the same period in 2024. Even steep discounts and zero-interest financing had little effect in luring customers. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back India to fund Maldives’ largest water and sanitation project in 28 islands 13 Aug 2024 The External Affairs Minister S Jaishankar inaugurated the water and sanitation project worth ₹923 crore and introduced UPI there. S Jaishankar signed many Memorandums of Understanding (MoUs) and virtually inaugurated six High Impact Community Development Projects (HICDPs) in the areas of mental health, speech therapy, special education, and street lighting. The MoUs focused on capacity building for 1,000 more civil servants in India and launching the Unified Payments Interface (UPI) in the Maldives. With Maldives President Dr Mohamed Muizzu and Foreign Minister Fathulla Jameel, S Jaishankar inaugurated the water project in 28 islands backed by India’s Line of Credit. India’s relations with Maldives strained after the Muizzu government came in September 2023, which was inclined towards strengthening their relations with China over India. Derogatory remarks against Narendra Modi, pushing withdrawal of Indian military personnel from Maldives, and a social media war impacted the relations further. In the July 2024 budget, India reduced the grants to Maldives to ₹400 crore, which is ₹200 crore less than announced in February. Previous Next

< Back China’s Single’s Day shopping festival losing its appeal 12 Nov 2024 Alibaba started the popular shopping event on November 11th, 2009. Chinese annual shopping event called Single’s Day or Double 11 was started by the c-commerce giant Alibaba and adopted by other websites like Pinduoduo and JD.com. It began as a one-day event but soon became a festival, as Chinese shopping platforms began the promotions weeks ahead to lure in shoppers. The pandemic, coupled with China’s sluggish domestic economy, a real estate crisis, and deflationary pressures, discouraged consumers from spending lavishly like before. This slowing trend pushed the e-commerce portals to offer promotions to markets abroad with global free shipping, thus helping local merchants to sell worldwide. Customers believe discounts aren’t as significant, and prices are inflated before merchants offer discounts. Moreover, the government’s latest financial stimuli have failed to boost consumer confidence. The gross merchandising volume sales across major e-commerce portals grew by only 2% compared with double-digited growth pre-pandemic, Syntun, the data provider, reported. Previous Next

< Back Despite tensions, Canada’s investments in India going strong 17 Oct 2024 Canadian funds Caisse de Deport et Placement du Québec (CDPQ) and British Columbia Investment Management sustained their holdings in India in the past year. Despite the geopolitical row between the two nations, Canada invested $4 billion in India between April 2000 and June 2024. Canada’s exports to India increased by 1.6% between October 2023 and August 2024. In the past five years, around one-fourth of Canada’s pension fund investments directed to Asia were invested in India, a considerable increase from 10% investments done between 2003-18. Canada focused on India while trying to divert its focus from China. As an emerging global superpower, India holds access to several economic clubs that interest Canada. Some Canadian funds, like the Canada Pension Plan Investment Board (CPPIB), have divested for various reasons besides geopolitics. Of the ₹45,000 crore listed equities held by CPPIB, it sold ₹8,500 crore in FY25. In June 2024, it held over a 1% stake in five listed companies in India, including Kotak Mahindra Bank, Delhivery, Nykaa, Indus Tower, Reliance Industries, Infosys, TCS, and Zomato. Previous Next

< Back US to remove restrictions on 3 Indian nuclear companies 16 Jan 2025 Inclusion in the Entity List restricts access to American nuclear technology. During his recent visit to New Delhi, the US National Security Advisor (NSA) Jake Sullivan announced on January 6th their decision to remove three Indian companies from the Entity List – Indira Gandhi Atomic Research Centre (IGCAR), Indian Rare Earths Limited (IREL), and the Bhabha Atomic Research Centre (BARC). Steps are being taken to lift the restrictions. This move will promote cooperation for essential minerals and a clean energy supply chain and reduce barriers to collaborative research and development between India and the US. It will enable the implementation of the Indo-US Civil Nuclear pact signed 16 years ago. However, it does not mean India will gain unrestricted access to American nuclear technology. Simultaneously, the Bureau of Industry and Security (BIS) under the US Department of Commerce added 11 Chinese companies to the Entity List. The US had restricted over 200 entities after India had conducted nuclear tests in 1998. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp, LinkedIn, Facebook, X, and Instagram. Previous Next