Jet CEO Vinay Dube on Friday in a letter to its 16,000 employees said that no clarity or commitment has been provided on emergency funding and staff salaries despite hi

Stakeholders silent on salaries, interim funding: Jet CEO to staff

Jet CEO Vinay Dube on Friday in a letter to its 16,000 employees said that no clarity or commitment has been provided on emergency funding and staff salaries despite his several attempts over the last few days to engage with the promoter and strategic stakeholders. Grounded airline's CEO further said banks have denied releasing funds for salaries even after he informed that employees will be forced to join other airlines on non-payment of salaries. Dube clarified that he also reached out at the highest levels of the government but could not elicit any response so far. 



As resentment grows against the govt due to the hike in fuel prices, the Finance Ministry and the Reserve Bank of India are in agreement on the need for coordinated act

Finance Minister echoes RBI&nbsp;stance on fuel price hike
Govt: Centre &amp; states need to talk to reduce fuel prices
Sitharaman: no hiding that fuel is a key revenue source
'If consumer is to pay less, Centre and States need to talk'
RBI&nbsp;Guv: cost of&nbsp;fuel affects manufacturing, production&nbsp;
'Calibrated&nbsp;reduction of taxes crucial as it impacts inflation'

SEBI responding to the trading halt has questioned by India’s largest bourse NSE on why trading did not migrate to the disaster recovery site. The

SEBI responding to the trading halt has questioned by India&rsquo;s largest bourse NSE on why&nbsp;trading did not migrate to the disaster recovery site.&nbsp;&nbsp;The DR site is a&nbsp;backup&nbsp;site which is located in another city and is a replica of the main production site in Mumbai&nbsp;
In&nbsp;fact, the National Stock Exchange had informed brokers in October that for two complete trading&nbsp;days,&nbsp;September 28 &amp; 29 the bourse had operated entirely out of the disaster recovery site, notably without any issues.&nbsp;&nbsp;Ironically the next round of testing is due end of March.
SEBI has sought a complete report including the details of internal assessments which led to the 4-hour trading halt&nbsp;on Wednesday.&nbsp;SEBI however reassured investors that&nbsp;the market regulator&nbsp;would take&nbsp;all necessary measures to ensure rectification of the underlying causes&nbsp;including addressing institutional deficiencies.&nbsp;

The shine for the yellow metal seems to be dulling with gold prices falling nearly ₹10,000 from the peak it scaled in August 2020. In fact, gold is now h

The shine for the yellow metal seems to be dulling with gold&nbsp;prices&nbsp;falling nearly ₹10,000&nbsp;from the peak it scaled in August 2020. In fact, gold is now headed for a second&nbsp;monthly decline as it sinks towards an&nbsp;8 month&nbsp;low.&nbsp;&nbsp;
Stronger returns in the US bond market&nbsp;with global central banks continuing to support growth has dulled demand for gold. Meanwhile, Goldman Sachs has cut its gold forecast, citing&nbsp;rising risk appetite for assets&nbsp;as a&nbsp;factor&nbsp;for the&nbsp;price&nbsp;underperformance.&nbsp;
Rising bond yields have always led to lower gold prices and with US yields hovering near 1 year high the demand for gold and thus the prices have seen a consistent correction. In fact, reports&nbsp;indicate&nbsp;&nbsp;holdings&nbsp;of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, have&nbsp;fallen&nbsp;to their lowest since May 2020

Private hospitals across the nation are gearing for the vaccine rush as they await more details from the government. India’s largest healthcare chain Apollo

Private hospitals across the nation are gearing for the vaccine rush as they await more details from the government. India&rsquo;s largest healthcare chain&nbsp;Apollo Hospitals was quoted saying that&nbsp;500 million vaccinations&nbsp;in 60 days&nbsp;is an achievable aim. They also&nbsp;said they expect&nbsp;over 25,000 private&nbsp;centers&nbsp;to be carrying out the vaccine rollout from March 1.&nbsp;&nbsp;
The price still remains a question, reports in digital media indicate the govt is looking at ₹400/dose which&nbsp;translates&nbsp;to ₹800 for the full vaccination schedule.&nbsp;Most private hospitals have reiterated that if the procurement price for the hospitals is the same as the govt then pricing of ₹400/dose will be adequate to cover the costs.&nbsp;&nbsp; &nbsp;

A cautious call on growth from the international ratings agency Moody’s ahead of Q3 GDP release tomorrow. Moody’s though expects India’s GDP numbers t

A cautious call on growth from the international ratings agency Moody&rsquo;s ahead of Q3 GDP release on Friday.&nbsp;Moody&rsquo;s though, expects India&rsquo;s GDP numbers to rise sharply&nbsp;to 13.5% next fiscal year; this is higher than the 10.5% projection from the RBI for FY&rsquo;22.&nbsp;&nbsp;They do&nbsp;however&nbsp;expect the cheer to moderate, as growth is likely to slow to 6.2% in FY&rsquo;23 as the low base effect also wears out.&nbsp;&nbsp;
Holding a negative outlook on India, Moody&rsquo;s warns that the&nbsp;&ldquo;Risk to growth forecast for India is tilted to the downside.&rdquo;&nbsp;
India will release GDP for the period of October-December 2020 on&nbsp;Friday,&nbsp;where data will indicate that the economy has finally exited recession with&nbsp;a&nbsp; projected&nbsp;growth rate of 0.5%.&nbsp;&nbsp;

After a long wait, the insurance regulator IRDAI has given its final nod to Axis Bank and subsidiaries, picking up a 12% stake in Max Life Insurance. This will now fina

After a long wait, the insurance regulator IRDAI has given its final nod to Axis Bank and subsidiaries, picking up a 12% stake in Max Life Insurance. This will now finally let Axis be a joint venture partner in the company, something that the entities had announced in April 2020.
Now that all the pins have fallen in place for the deal, it also allows Axis entities to raise their stake further by 7% which they intend to do in a couple of years.
Max Life is the fourth-largest private life insurer in India, while Axis is India&rsquo;s third-largest private bank.

Following in Google's footsteps, Facebook has said that it plans to invest $1 billion to "support the news industry” over the next three years. The social network

Following in Google's footsteps, Facebook has said that it plans to invest $1 billion to "support the news industry&rdquo; over the next three years. The social networking giant, which has been tussling with Australia over a law that would make social platforms pay news organisations, said it has invested $600 million since 2018 in news. Google said in October last year that it would pay publishers $1 billion over the next three years. News companies want Google and Facebook to pay for the news that appears on their platforms.

Digital platforms such as Facebook and Google will now as per law have to pay publishers when linking their content on news feeds or in search results on their

Digital platforms such as Facebook and Google will now have to pay publishers when linking their content on news feeds or in search results on their platforms.&nbsp;
The Australian Parliament has passed The News Media and Digital Platforms Mandatory Bargaining Code. This comes at a time when social media giants like Facebook and Google are already trying to tie up with news outlets across the world&nbsp;
Facebook&nbsp;has announced that it plans to spend at least $1 billion in the news industry over the next three years. Facebook&nbsp;says&nbsp;it has reached agreements with publishers in the U.S. similar to the deal stuck in UK.

The extradition fate of Nirav Modi, the diamond merchant accused in the ₹ 14,000 cr PNB money laundering scam will be decided by a UK court today. The 2 y

A UK court will rule today on the extradition of Nirav Modi, the diamond merchant accused in the ₹&nbsp;14,000 cr PNB money laundering scam
The 2 year long extradition battle will end in a few hours as the UK court rules. Nirav meanwhile has remained imprisoned in the Wandsworth Prison in south-west London.
Nirav Modi is faced with two sets of criminal proceedings one with the CBI and the other the other with the Enforcement Directorate.&nbsp;
The CBI case relating to $2 bn worth fraud where he is accused of producing fake loan agreements to get a loan from Punjab National Bank. Charges of evidence tampering and intimidating witnesses was later added as well . Meanwhile the ED is pursuing charges of laundering the money he fraudulently received from state run PNB.&nbsp;

ndia’s largest exchange has some explaining to do to the market regulator and the finance ministry. Reports indicate SEBI and Fin Min have sought a detailed from

India&rsquo;s largest exchange has some explaining to do to the market regulator and the finance ministry. Reports indicate SEBI and Fin Min have sought a detailed report from India&rsquo;s largest exchange on the technical glitch that halted trade for over 4 hours.&nbsp;
National Stock Exchange is expected to submit it&rsquo;s report before Friday but this may just be the preliminary submission. This is not a first for the&nbsp;NSE, the exchange halted trade for 3 hours in 2017 again due to a technical glitch.&nbsp;
 In fact SEBI had slapped a Rs 50 lakh fine on NSE in 2019 when NSE NOW, a trading terminal for traders, was not working properly in Gujarat, Rajasthan and in some parts of Maharashtra.Infact&nbsp;SEBI in it&rsquo;s annual report last year had indicated the need of a plan to compensate investors for losses due to technical glitches.&nbsp;

“Government has no business to be in business” that was the clear and concise message from PM Modi as the govt batted aggressively for privatisation.

&ldquo;Government has no business to be in business&rdquo; that was the clear&nbsp; and concise message from PM Modi as the govt batted aggressively for privatisation. Putting the focus back onto development PM Modi reiterated that being in businesses distracts the govt from its main goals.
With over 100 assets identified in its asset monetisation pipeline the Prime Minister reminded India Inc that the Rs 2.5 lakh crore that they are hoping to raise via divestment will be dedicated to development goals. PM Modi added that the government will be&nbsp;having&nbsp;public sector companies only in key strategic sectors and that too only minimum companies. &nbsp;
 There were about 249 PSUs in 2018-19. Of these, 70 were loss-making, with combined losses to the tune of Rs 31,000 cr.&nbsp;

Not even an hour into trade at 10:06 am there was confusion across dealing rooms as the headline Index Nifty seemed to have been stuck at a single value and was not upd

Not even an hour into trade at 10:06 am there was confusion across dealing rooms as the headline Index Nifty seemed to have been stuck at a single value and was not updating . It was not long before traders realised there was a systemic problem as the none of the Indices listed across the NSE were updating.
 At 11:40 for the second time in the last 5 years the National Stock Exchange halted trade across segment cash and F&amp;O segment citing a technical glitch.&nbsp;
 What followed was just whispers of communication confusion with no official word from the bourse traders speculated what would happen to open positions just a day ahead of expiry.&nbsp;
 3 hours into the trading halt India&rsquo;s largest brokerage Zerodha finally decided to layout a gameplan for its users as NSE had still not provided any clarity. The discount broker tweeted Plan of action: If NSE isn't back up by 2.45 pm, we will block all new MIS &amp; CO orders for the day and attempt to square off all equity MIS &amp; CO positions on BSE. Unfortunately, we will not be able to do anything with intraday F&amp;O positions if NSE isn't back up
 It was just minutes before close that NSE announced that trading hours would be extended by both exchanges from 3:$5 upto 5 pm. The message was short and for many almost too late . Zerodha sent out a message to their clients &nbsp;if NSE had informed brokers of a potential reopening or extension of trading hours, at least by 3 PM, we, along with many other brokers would not have had to take risk mitigation measures and square off positions on BSE. Unfortunately, because there were no updates given to brokers, we had no other choice. The last minute notification of the trading extension at 3:17 PM came a little too late.

Telecom giant Airtel stepped into the ad biz by launching an AdTech platform Airtel Ads. This allow brands to target customers with relevant advertisements and for cust

Telecom giant Airtel stepped into the ad biz by launching an AdTech platform Airtel Ads. This allow brands to target customers with relevant ads and for customers to get targeted offers as per consent.
Sunil Bharti backed Airtel Ads has been in beta testing for a while and has already had over 100 brands sign up on the platform. Airtel is hoping to leverage its 320 million customers across businesses especially the 190 mn users on its digital properties such as Wynk, Xstream and Thank for Airtel Ads
 On concerns of privacy and data sharing Airtel was quick to reassure that user data never leaves their ecosystem when the ads are delivered to users. Secondly, as the user and the brand is on the same platform the data is not shared with any intermediaries.
 The digital advertising pie is expected to increase to $8 bn by 2025, that is a four fold increase from the current spend of $2 billion across industries

The National Stock Exchange (NSE) has halted trading as it is facing a technical glitch. The benchmark Nifty 50 has not been updated since 10:08 am. The index is curren

The National Stock Exchange (NSE) has halted trading as it is facing a technical glitch. The benchmark Nifty 50 has not been updated since 10:08 am. The index is currently frozen at 14,820-level up 112 points or 0.77%.&nbsp;Meanwhile, the NSE&nbsp;said it was&nbsp;working on restoring the systems as soon as possible. However, there is no confirmation on reopening trade today. The Bombay Stock Exchange or the BSE&nbsp;continued to have normal trading in all segments.

The 50 stock Nifty will have a fresh line up for the new fiscal as it will add on Tata Consumer Products while dropping state run GAIL from it’s list. This

The 50 stock Nifty will have a fresh line up for the new fiscal as it will add on Tata Consumer Products while dropping state run GAIL from it&rsquo;s list.&nbsp;
This is will mark the debut of Tata Consumer Products previously called Tata Global beverages into Nifty as it joins in ranks with peers Hindustan Unilever, Nestle, Britannia. The weight of consumer stocks in the benchmark will rise to over 11.5% with the inclusion&nbsp;
Tata Consumer holding key brands such as Tata Tea, Tetley, Tata Salt &amp; Himalayan water will be the 5th Tata Group company in the Nifty after TCS, Tata Steel, Tata Motors and Titan.

The Indian workforce can expect an average of 7.7% increment in 2021 as per the Aon India Salary Increase Survey . This marks a rise from 6.4% last year but ex 2020 it

The Indian workforce can expect an average of 7.7% increment in 2021 as per the Aon India Salary Increase Survey . This marks a rise from 6.4% last year but ex 2020 it is still the lowest salary increase since post financial crisis in 2009. (can we use the graph they have in their presentation on page 3). The rise in salaries is in co-relation with the fact the Indian economy is expected to get back on the growth track in the current year. GDP numbers due on Friday should indicate that India has exited the recession.
 No surprises that e-commerce and VC backed companies are likely to see salary hikes above the national average at 10.1% . Tech companies follow in close with an expectation of 9.7% hike. It will remain a struggle for those in Hospitality sector with a projected 5.5% rise as the industry continues to limp back into shape.
 Aon survey also indicates that average variable pay&nbsp; as a percentage the fixed pay will come down across sectors led by financial institutions.
 With 88% companies surveyed intending to give salary increases in 2021, as compared to 75% companies in 2020 the economic indicators are seemingly on the mend. Infact at 7.7% the pay hike will be better than most major economies, including Japan, the US, China, Singapore, Germany and the UK, where the average salary growth will be between 3.1% and 5.5%. (Last can also use a graphic with flags and % of hike anticipated from the presentation)

Kalyani family promoted Bharat Forge has received an order worth over Rs 177 cr from the Indian Ministry of Defence. This order which is placed as emerge

Kalyani&nbsp;family&nbsp;promoted Bharat Forge has received an order worth over Rs 177 cr from the Indian Ministry of Defence. This order which is&nbsp;placed as emergency procurement from the Army is for the supply of Kalyani M4 vehicles.
The vehicle had undergone trials in Ladakh, along with its competitors, in August 2020
This order comes just as the Pune based company ties up with &nbsp;global aerospace and technology company Paramount Group to manufacture armoured vehicles in India.

Joining the chorus of sceptics against the digital currency billionaire investor Rakesh Jhunjhunwala while speaking to an international business channel said he was not

Joining the chorus of sceptics against the digital currency billionaire investor Rakesh Jhunjhunwala while speaking to an international business channel said he was not interested in joining the highly speculative Bitcoin Party as the hangover is likely to be much worse.&nbsp;
Talking to the hosts of Street Signs Asia Rakesh Jhunjhunwala backed the plan for regulators in India to ban Bitcoin and put the focus solely on the digital rupee. &nbsp;
 The big bull continued his denunciation of the digital token as he called it speculation of the highest order.&nbsp;Meanwhile global prices of Bitcoin have been crashing over the last 3 sessions, down over 18% in Tuesday&rsquo;s trade as well.&nbsp;

Home prices across the United States jumped 10.4% in December, traditionally as a slow month for realty. Case-Shiller Home Price Indices which measures

The realty market continue to heat up across the United states Home prices as tracked by Case-Shiller Home Price Indices&nbsp;&nbsp;jumped 10.4% in December. This is also one of the largest annual gains in the 30-year history of the index.
Phoenix, Seattle, and San Diego continued to show the strongest price gains among the 19 cities surveyed.
Record low interest rates and pandemic forced work from home has led to a surge in demand for&nbsp;homesacross the United States. Sales of previously owned homes, which make up the bulk of the housing market, rose in 2020 to their&nbsp;highest annual level since 2006.

Elon Musk is no longer the world’s richest person after Tesla shares slid 8.6% on Monday, wiping $15.2 billion from his net worth. Tesla’s biggest decline

Elon Musk is no longer the world&rsquo;s richest person after Tesla shares slid 8.6% on Monday, wiping $15.2 billion from his net worth. Tesla&rsquo;s biggest decline since September was fueled in part by Musk&rsquo;s comments over the weekend that the prices of Bitcoin and smaller rival Ether &ldquo;do seem high.&rdquo; His tweet came two weeks after Tesla announced it added $1.5 billion in Bitcoin to its balance sheet. Musk dropped to the second spot on the Bloomberg Billionaires Index of the world&rsquo;s 500 richest people with a net worth of $183.4 billion &mdash; down from a peak of $210 billion in January. Amazon.com Inc. founder Jeff Bezos reclaimed the top spot even as his fortune fell by $3.7 billion to $186.3 billion Monday.

Jet CEO Vinay Dube on Friday in a letter to its 16,000 employees said that no clarity or commitment has been provided on emergency funding and staff salaries despite his several attempts over the last few days to engage with the promoter and strategic stakeholders. Grounded airline's CEO further said banks have denied releasing funds for salaries even after he informed that employees will be forced to join other airlines on non-payment of salaries. Dube clarified that he also reached out at the highest levels of the government but could not elicit any response so far. 



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Stakeholders silent on salaries, interim funding: Jet CEO to staff

Apr 26, 2019 17:32 IST

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