Top headlines: KKR to invest in Hero's RE arm; CEA pegs FY23 growth at 7%

SpiceJet sends 80 pilots on leave without pay for three mths to prune costs

SpiceJet has sent approximately 80 pilots on leave without pay for three months in order to rationalise its costs.

The airline has been making losses the past four years. Moreover, it is currently operating less than 50 per cent flights, following the July 27 order of the Directorate General of Civil Aviation (DGCA) in the wake of a spate of incidents. Read more

CEA says India poised to grow at 7% this year and for rest of decade

India’s economy is well poised to grow at a sustained rate of seven per cent “as we go into 2023” and for the rest of the decade, chief economic advisor V Anantha Nageswaran said on Tuesday. His projections are lower than the estimate of 8-8.5 per cent GDP growth in the current financial year provided in the government’s Economic Survey in January 2022.

“India recently surpassed the United Kingdom to become the world’s fifth largest economy in absolute terms. While that is a creditable achievement, it is not exactly a surprise,” Nageswaran said in a virtual address at the Global Fintech Fest in Mumbai. Read more

KKR, Hero Group to invest $450 mn in Hero Future Energies

Global investment firm KKR and Hero Group will invest USD 450 million (around Rs 3,588 crore) in Hero Future Energies, a statement said on Tuesday.

Hero Future Energies is the renewable energy arm of the Hero Group. Read more

BYJU's is a blockbuster like 'Brahmastra': Co-founder Divya Gokulnath

Breaking her silence, BYJU's co-founder and Director Divya Gokulnath on Tuesday said that the second blockbuster release of this year, after the movie "Brahmastra", was the financial results of the $22-billion edtech major.

In a LinkedIn post, Gokulnath said that she hasn't seen "Brahmastra" yet, "but I do happen to know BYJU'S results because, as its Director, I was involved in its making". Read more