Posts tagged Rediff
‘I continue to remain CEO’, Byju Raveendran to staff (24-02-2024)
A day after investors of the troubled edtech firm Byju's voted for a leadership change, Byju Raveendran has penned a note to employees saying he continues to remain CEO and the management remains unchanged, as he dubbed Friday's EGM as a "farce". The note to employees assumes significance as it comes after Byju's shareholders (prominent investors) on Friday voted for removing founder-CEO Raveendran and his family from the board over alleged "mismanagement and failures" at what was once India's hottest tech startup, but the company dug in its heels, calling the voting done in absence of founders as invalid and ineffective.
Revamped SEZ law unlikely before the LS elections (24-02-2024)
The revamped Special Economic Zone (SEZ) law is unlikely to see the light of the day before the upcoming Lok Sabha elections, two people aware of the matter said. The commerce department had sought the Union Cabinet's nod to bring amendments to the existing SEZ Act, 2005 late last year. The plan, thereafter, was to introduce the Bill in the winter session of Parliament. Cabinet's approval remains pending.
Margin gains propel India Inc’s Q3 profit (24-02-2024)
Corporate India reported high double-digit growth in net profit for the fourth consecutive quarter in October-December 2023 (Q3FY24), driven by margin gains from lower prices of raw material and energy.
‘Rural consumers also driving power demand’ (24-02-2024)
'This was earlier driven by industries and the commercial sector.'
Making payments for bus, train rides will be easier (23-02-2024)
Reserve Bank of India (RBI) on Friday permitted banks and non-banking institutions to issue pre-paid instruments for making payments across various public transport systems. With the introduction of these instruments, commuters will have more options to pay for tickets besides cash mode.
Forex reserves decline $5.24 bn to $617.23 bn (23-02-2024)
India's forex reserves declined $5.24 billion to $617.23 billion for the week ending February 9, according to weekly data released by the Reserve Bank of India (RBI) on Friday. The forex kitty stood at $622.5 billion for the week ended February 2. However, in the current fiscal, the forex reserves have increased $50.28 billion, the RBI data showed.
Byju’s shareholders vote to remove CEO, family (23-02-2024)
More than 60 per cent of shareholders of edutech Byju's on Friday voted for removal of founder CEO Byju Raveendran and his family over alleged "mismanagement and failures" at what was once India's hottest tech startup, but the company dug in its heels, calling the voting done in the absence of founders as "invalid". Prosus - one of the six investors who had called the extraordinary general meeting (EGM) - in a statement said "shareholders unanimously passed all resolutions put forward for vote.
Most Byju’s shareholders vote to remove CEO, family (23-02-2024)
More than 60 per cent of shareholders of edutech Byju's on Friday voted for removal of founder CEO Byju Raveendran and his family over alleged "mismanagement and failures" at what was once India's hottest tech startup, but the company dug in its heels, calling the voting done in the absence of founders as "invalid". Prosus - one of the six investors who had called the extraordinary general meeting (EGM) - in a statement said "shareholders unanimously passed all resolutions put forward for vote.
Airlines cancel 12 Mumbai routes; airfares rise 193% (23-02-2024)
Airfares have nearly doubled in a matter of days on routes hit by the cancellation of 200 weekly flights linking Mumbai airport to 12 cities. The fares have soared as high as 193 per cent following a recent government order to cancel flights to ease "persistent congestion" that was causing delays. Aside from the reduction in flights on 12 routes, two destinations - Hubli and Jabalpur - have lost connectivity with Mumbai since last week, according to aviation analytics firm Cirium's data reviewed
Airlines cancel 12 Mumbai routes; airfares rise 193% (23-02-2024)
Airfares have nearly doubled in a matter of days on routes hit by the cancellation of 200 weekly flights linking Mumbai airport to 12 cities. The fares have soared as high as 193 per cent following a recent government order to cancel flights to ease "persistent congestion" that was causing delays. Aside from the reduction in flights on 12 routes, two destinations - Hubli and Jabalpur - have lost connectivity with Mumbai since last week, according to aviation analytics firm Cirium's data reviewed