Tucked away at a lane in Arehalli Guddadahalli, a small village in Bengaluru Rural district is a nondescript factory of LaundryMate, one of India’s first organised technology-led online laundry services firms. The company has built the country’s largest laundry facility, which is spread across 53,000 square feet – the size of a football field. Inside the hangar-like building, one can hear the whooshing and humming sound of big hi-tech washing machines being operated by the newly-recruited staff of LaundryMate.
Posts tagged Rediff
Campa back in business under Reliance, its new owner (05-09-2022)
Campa is set to take on its competition, which pushed it out of the aerated drinks business in the late 1990s, but this time with a new owner – Reliance Industries. Campa’s entry comes at a time when aerated drinks as a category is already saturated. But experts say this could give rise to competition in the segment, eventually causing the space to grow.
Mistry: Reclusive scion let his work do the talking (04-09-2022)
A naturally reclusive nature and a conviction for the work to do the talking meant there was very little known about Mistry even during his time at the helm of Tata Sons. He did not do a single media interview from Bombay House.
Mallya contempt case: SC verdict on Monday (04-09-2022)
The Supreme Court is likely to pronounce on Monday the quantum of sentence against fugitive businessman Vijay Mallya, an accused in the bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, in a contempt case where he has been found guilty. A bench comprising Chief Justice Uday Umesh Lalit and Justice S Ravindra Bhat on March 10 had reserved its order on the punishment in the contempt case against Mallya, saying the proceedings against him have hit a “dead wall”. The top court had heard senior advocate and amicus curiae Jaideep Gupta on various aspects related to the contempt law and the punishment, and had granted one last opportunity to lawyer Ankur Saigal, counsel for Mallya, to file his written submissions on the sentencing aspect.
Global trends, FIIs to drive stock markets this week (04-09-2022)
In the absence of major domestic events, equity markets will be driven by global trends, foreign fund flows and movement in the Brent crude oil, analysts said. The major global events this week are the European Central Bank interest rate decision and China’s inflation rate, they added. “Indian equity markets are outperforming most of their global peers and trying to show resilience despite weak global cues.
Public sector companies are inefficient: Maruti chief (04-09-2022)
The government should not be running businesses as public sector companies are inefficient and do not generate enough resources to fund their own growth, according to Maruti Suzuki India chairman R C Bhargava. Public sector companies need support all the time to grow and need funds from the government for capital investments, he told PTI in an interview. “I have no doubt that government should not be in business. No way,” he said when asked if governments should be in the business of running enterprises on the basis of his experience of witnessing the transformation of the then government-owned Maruti Udyog Ltd to Maruti Suzuki India Ltd, majority owned by Japan’s Suzuki Motor Corporation.
India now world’s 5th largest economy, overtakes UK (03-09-2022)
India’s GDP expanded 13.5 per cent in the April-June quarter, the quickest pace in a year, to retain the world’s fastest growing economy tag but rising interest costs and the looming threat of a recession in major world economies could slow the momentum in the coming quarters.
Can India grow at 7% a year over the next 25 years? (03-09-2022)
If that happens, India’s economic size will be just shy of $20 trillion and its annual per capita income will be about $10,000, when the country celebrates its centenary of independence.
TCS scraps anniversary hikes, to stick to annual raise (03-09-2022)
The IT major will give an anniversary hike for lateral hires as they complete a year at the company. And, these employees were entitled to the annual salary revision that followed the anniversary hikes.
How A-I plans to alert fliers about flight changes (02-09-2022)
Air India will put in place new systems to proactively alert fliers about changes or delays in flight schedules and also set up a coordination team to address airport-specific issues, according to an internal communication. After reviewing block times, airport connecting times and aircraft as well as crew rotations, Tatas-owned Air India has identified various improvement areas for bettering overall performance. In the internal communication on Friday, Air India CEO and managing director Campbell Wilson said the airline would seek airport slots to carry out the improvements.