Top headlines: Byju's sacks staff, Zee Ent terms Sebi's order unjustified

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US share in India's merchandise exports up despite diversification move

Notwithstanding India’s efforts to diversify its merchandise exports, the country’s dependence on the US for its outbound shipments has increased over the past 12 years by 7 percentage points to touch 17.4 per cent share in 2022-23 (FY23). Read more

Sebi order 'unjustified and unwarranted', Zee Ent argues before SAT

Dubbing the interim order by the Securities and Exchange Board of India (Sebi) “unwarranted and unjustified”, legal representatives for Zee Entertainment Enterprises (Zee) Managing Director and Chief Executive Officer (MD & CEO) Punit Goenka argued that the regulator had reached a conclusion without giving him an opportunity of a hearing. Read more 

PM Narendra Modi's upcoming US visit: India eyes WTO disputes resolution

Prime Minister Narendra Modi’s upcoming visit to the United States (US) could see a breakthrough in the pending World Trade Organization (WTO) disputes involving the two nations, according to two people aware of the matter. Read more

India's largest edtech firm Byju's sacks 1,000 more; count jumps to 3,500

India’s largest edtech firm Byju’s will fire 1,000 employees in a fresh round of layoffs across departments. With the latest round, total job cuts at the company have mounted to around 3,500. According to sources, fresh job cuts are an attempt by the company to improve its finances and work towards a path to profitability. Read more

Rs 2,000 note move can take FY24 growth past 6.5%, says SBI report

The decision to withdraw Rs. 2,000 currency notes and response to it so far suggest that the move can help boost FY24 gross domestic product (GDP) growth to beyond 6.5 per cent estimated by the Reserve Bank of India (RBI), a report said on Monday. The real GDP growth for the first quarter of FY24 will come at 8.1 per cent with an upward bias and the RBI’s 6.5 per cent estimate can also be exceeded, economists at the country’s largest lender SBI said. Read more