Top Headlines: Oyo rejigs top brass; immediate fuel price hike unlikely

Oyo rejigs top brass ahead of IPO, replaces CEO of India business

IPO-bound Oyo on Thursday announced a major rejig in top management and appointed a new CEO of its India business. The affordable lodging start-up has named Ankit Gupta, CEO of Oyo’s hotels and homes vertical, as chief executive of its India business. It also elevated Rohit Kapoor to a global role as the company’s marketing head. Read more

Immediate fuel price hike unlikely; govt comfortable with $100 crude

With benchmark crude oil prices hovering around $100 a barrel, oil marketing companies (OMCs) are unlikely to raise retail prices of petrol and diesel. Senior policymakers told Business Standard that the government is comfortable with crude prices at below $100 and even if international prices go above that level for short spans of time, the OMCs can absorb it. Read more

Russian-Ukraine war impact: Steel producers feel a new pinch in India

Russia’s war on Ukraine has sent steel prices soaring to its highest levels in the domestic market since November 2021. But there is little cheer in the industry. That’s because input costs are spiralling out of control, leaving the big boys nearly as high and dry as the small, medium and secondary steel producers. Read more
 

UK, Australia may score over Canada for Indian students, shows data

If 2021 saw Canada post a manifold growth in intake of international students, especially from India, the upcoming Fall 2022 season may find the scales tipped in favour of the UK and Australia, along with the US, as top destinations. Read more

Re-elected MLAs from ruling party added more wealth than others

Data emerging from the recently concluded Assembly elections in five states shows that it pays to be in power. A Business Standard analysis of data from the Association of Democratic Reforms (ADR) on the wealth of candidates shows that the re-elected MLAs from the ruling party added more wealth in the last five years than re-elected candidates from other political parties. Read more