India

PepsiCo announces Jagrut Kotecha as its new CEO
19 Jan

PepsiCo announces Jagrut Kotecha as its new CEO

Priyanka Bhowmick0 CommentsBusiness, India,
Leading food and beverage major PepsiCo India has promoted Jagrat Kotecha as Senior Vice President and Chief Commercial Officer, AMESA (Africa, Middle East and South Asia region) as CEO of India operations, replacing Ahmed Elsheikh. Kotecha holds a BE Chemical Engineering degree from the University of Mumbai. He holds an MBA, in Marketing from SVKM's Narsee Monjee Institute of Management Studies (NMIMS). He joined Cadbury India sales between 1992-1994. In 1994 he joined PepsiCo India Sales and Marketing and held various sales and marketing roles, becoming Regional Sales Manager in 1997 and Marketing Manager - Western Snacks till 1999. Between…
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”Atal Setu Not A Picnic Spot”: Mumbai Police As People Stop Cars, Take Selfies On Sea Bridge
17 Jan

”Atal Setu Not A Picnic Spot”: Mumbai Police As People Stop Cars, Take Selfies On Sea Bridge

Priyanka Bhowmick0 CommentsIndia
PM Modi inaugurated Atal Bihari Vajpayee Sewri-Nhava Sheva Atal Setu in Navi Mumbai on January 12. The bridge was build with an objective to providing expeditious connectivity to Mumbai International Airport, and Navi Mumbai International Airport.  After 2-3 days of the inauguration ceremony, videos of people breaking traffic rules started surfacing on social media. While some can be seen parking their vehicles on the side of the bridge and clicking selfies, others can be seen littering on the Mumbai Trans Harbour Link (MTHL). https://twitter.com/rushikesh_agre_/status/1746420279860236607?s=20 https://twitter.com/mumbaimatterz/status/1746264060478558432?s=20 One user said, ''Sad. Need to respect all our public infrastructure. Considering the whole stretch…
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Apple to remove Blood-Oxygen tool from watches
17 Jan

Apple to remove Blood-Oxygen tool from watches

Priyanka Bhowmick0 CommentsBusiness, India,
Apple Inc. It is considering removing the blood oxygen sensor from its latest smartwatches - the Series 9 and Ultra 2 - to get a US ban on the devices if an appeal against the decision fails. Apple is pursuing a bid to overturn a US ruling that blocked use of its technology. According to reports, the US Customs and Border Protection has approved the potential redesign of Apple Smartwatches Series 9, and Ultra 2 sans that blood-oxygen sensor. According to reports, US Customs and Border Protection has approved a potential redesign of the Apple smartwatch Series 9 and Ultra…
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Windfall tax reduced by Rs 600 per tonne to Rs 1,700 per tonne
16 Jan

Windfall tax reduced by Rs 600 per tonne to Rs 1,700 per tonne

Priyanka Bhowmick0 CommentsBusiness, India,
India has reduced its windfall tax on petroleum crude from ₹2,300 to ₹1,700 ($20.53) per tonne, according to a government notification on Monday. The cut will come into effect from January 16, the order said. On 2 January, the government increased the windfall tax on petroleum crude oil from ₹1,300 to ₹2,300 per tonne. From July 2022, India imposed a windfall tax on crude oil producers and expanded duties on exports of petrol, diesel, and aviation fuel as private refiners sought to sell fuel abroad to profit from stronger refining margins rather than sell locally. It revises taxes fortnightly.
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Citigroup to lay off 20,000 employees
13 Jan

Citigroup to lay off 20,000 employees

Priyanka Bhowmick0 CommentsBusiness, India,
Citigroup plans to cut 20,000 jobs over the next few years as part of a corporate restructuring designed to boost profits and return cash to shareholders, the U.S. bank said Friday.The downsizing came in a presentation released alongside the New York-based lender's fourth-quarter results in which it reported a big loss. The move would put the headcount at about 180,000 by the 2026 deadline, down from 240,000 at the end of 2022 -- while also reflecting the expected spinoff of Citi's Mexico subsidiary, Banamex. Citi Chief executive Jane Fraser unveiled a corporate overhaul with five business lines instead of two.…
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Sony’s India unit continues merger talks with Zee
11 Jan

Sony’s India unit continues merger talks with Zee

Priyanka Bhowmick0 CommentsEntertainment, India,
Sony Group is actively engaged in talks to merge its Indian subsidiary with Zee Entertainment Enterprises, with ongoing talks scheduled until January 20, sources familiar with the talks said, according to a report in Nikkei Asia. Earlier reports indicated that Sony considered scrapping the deal due to disagreements surrounding the appointment of the CEO of the merged entity. However, the terms of the deal are still being negotiated, and Zee has issued a release refuting the media's claims. The merger agreement between Sony and Zee was signed in 2021, and was targeted for completion by the end of September next…
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DLF sells 1,113 luxury flats for Rs 7,200 cr within 3 days
09 Jan

DLF sells 1,113 luxury flats for Rs 7,200 cr within 3 days

Priyanka Bhowmick0 CommentsBusiness, India,
Despite the rise in real estate prices, several buyers in India are ready to pay for their dream homes. In the pre-formal launch sale of a luxury residential development worth around Rs 7,200 crore in Gurugram, Indians bought homes in just 72 hours. India's largest real estate developer, DLF, on Monday, announced the sale of the entire 1,113 luxury flats for Rs 7,200 crore in a project in Gurugram (DLF Prevana South) within three days of its pre-launch on strong demand from end-users and investors including NRIs. The new project is spread over 25 acres in Sectors 76 and 77…
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With on 2030 EV public infra goal time for India to move top gear
08 Jan

With on 2030 EV public infra goal time for India to move top gear

editor0 CommentsIndia
As reports surfaced about tech billionaire Elon Musk arriving in India next week  to announced a Tesla manufacturing unit in Gujarat (although no official confirmation has come yet),the focus has once again shifted to ramp up the public infrastructure for electric vehicles (EVs) in the country in order to meet the ambitious 2030 goal of the government. This is actually very good news as India is making big steps by moving into electric vehicles. Today India is developing very fast and people in the country are actually working very hard. Bringing electric vehicles will actually improve people lifestyle and in…
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Flipkart may fire up to 7% of employees by April
08 Jan

Flipkart may fire up to 7% of employees by April

Priyanka Bhowmick0 CommentsBusiness, India,
Walmart-owned Flipkart has embarked on a retrenchment initiative that could reduce its total workforce by five to seven percent, according to a report in The Economic Times (ET). The move is part of the company's annual performance-based job cuts, which have been in effect for the past two years. The process is expected to be completed by March-April in line with the ongoing performance review and the end of the current financial year. The e-commerce giant, with 22,000 employees (excluding Mintra), has been proactively managing costs, including adding new hires over the past year. Currently, the company is finalizing a…
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GAIL inks 10-year LNG deal with Vitol
06 Jan

GAIL inks 10-year LNG deal with Vitol

Priyanka Bhowmick0 CommentsBusiness, India,
GAIL (India) Ltd has signed a long-term agreement with Vitol Asia Pte Ltd to supply about 1 million metric tonnes of liquefied natural gas to India every year.Vitol will supply LNG from its global portfolio to GAIL for 10 years starting in 2026, the state-run company said in a statement on Friday. Other terms of the deal were not disclosed. "GAIL's long-term LNG agreement with Vitol will enhance its large liquefied natural gas portfolio and contribute to bridging India's natural gas demand and supply gap," said GAIL Chairman and Managing Director Sandeep Kumar Gupta."India is a significant and growing LNG…
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