Top Headlines: Omicron sub-variant akin to Delta, EVs could cut forex outgo

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Suman Bery new Niti Aayog Vice Chairman; Rajiv Kumar steps down

Rajiv Kumar has stepped down as Niti Aayog Vice Chairman and will be replaced by Suman K Bery, a former director general of National Council of Applied Economic Research (NCAER). Bery is now non-resident fellow at Bruegel, a European think tank specializing in economics. Kumar took over as vice chairman in August 2017 after his predecessor Arvind Panagariya left NITI Aayog, which replaced the Planning Commission. Bery will join from May 1, 2022, according to a government order. Read more...

Covid-19: Omicron BA.2.12.1 has mutation akin to Delta, says virologist

The Omicron sub-lineage BA.2.12.1, which is causing a surge in Covid-19 cases in the National Capital Region (NCR), has a mutation in the spike protein similar to the one found only in the Delta lineage. Whether this causes any severity in infections is to be seen, but so far, clinicians claim, most Covid-positive cases are asymptomatic or mild. Read more...

No performance riders on ESOP grants to founders of India's new-age firms

On any day, one can find founders of Indian tech companies holding up their Silicon Valley peers like Elon Musk as role models, talking about things like innovation and regulation where the US tech hub fares much better. Of course, comparisons always sound sweeter when others are playing ball, not when the ball lands in their court. Read more...

EV adoption likely to stem foreign exchange outgo on oil imports

The sharp increase in imported fuel prices could well speed up the day when the overall foreign exchange outflow on an electric car powered by a 30 kwn lithium ion battery will be equal to, or below, that of an internal combustion engines (ICE) car of the same model. The foreign exchange outflow has two elements. Read more...

Majority of Future Retail secured creditors reject Reliance deal

Majority shareholders and unsecured creditors of Future Retail, Future Lifestyle Fashions, and other group firms have voted in favour of the scheme of amalgamation with Reliance Retail. However, a majority of the secured creditors of four out of the five Future companies (for which voting results are announced) voted against the resolution required to pass Future Group’s Rs 25,000-crore scheme to sell most of its retail and logistics businesses to Reliance Group. Read more...