Page 567 - Industry News
Pay $4 million to engine lessors by February 15, Delhi HC tells SpiceJet
The airline had sought more time for payment and said they could pay $1 million upfront. SpiceJet is supposed to pay close to $11 million to the lessors
 "Pay $4 million to engine lessors by February 15, Delhi HC tells SpiceJet")
Breather for consumers as drug prices likely to remain same this year
In previous two years, hikes were in the range of 10-12%
 "Breather for consumers as drug prices likely to remain same this year")
Alcoholic beverages to cost more in Tamil Nadu with effect from February 1
As per the revised schedule, alcoholic drinks, sold in higher quantities will accordingly cost more
 "Alcoholic beverages to cost more in Tamil Nadu with effect from February 1")
Gail signs LNG import deal with UAE firm to buy 0.5 million tonne per annum
Under this agreement, the deliveries will commence from 2026 onwards for a duration of 10 years, across India
 "Gail signs LNG import deal with UAE firm to buy 0.5 million tonne per annum")
Jio cements market lead, adds 3.45 mn mobile subscribers in Nov: Trai data
Vodafone Idea, however, slipped further losing 10.7 lakh subscribers in November, the monthly subscriber data by Telecom Regulatory Authority of India (TRAI) showed
 "Jio cements market lead, adds 3.45 mn mobile subscribers in Nov: Trai data")
Ministry of environment releases SOP for lead-acid battery recycle
The SOP aims to regulate the import, transport, and recycling of lead-bearing waste while minimising environmental and health risks
 "Ministry of environment releases SOP for lead-acid battery recycle")
Real estate sector in the middle of a growth cycle: Motilal Oswal
Despite the price hikes, affordability improved across markets as income growth surpassed pricing growth, which should keep momentum intact in demand and pricing, the report stated
 "Real estate sector in the middle of a growth cycle: Motilal Oswal")
Rajasthan govt turns to open market as power cuts hit irrigation
This is prompting the Rajasthan Urja Vikas Nigam to purchase electricity from the open market, sources in the state energy department said
 "Rajasthan govt turns to open market as power cuts hit irrigation")
SpiceJet gets over Rs 900 cr funding; to focus on fleet upgradation
The carrier, which had been facing multiple headwinds in recent months, has so far received around Rs 1,000 crore under the ECLGS
Govt plans biometrics-based immigration for international passengers
Government initiative aims to streamline airport processes and elevate India's airports as global transit hubs
 "Govt plans biometrics-based immigration for international passengers")
Avg flat size expands 11% in 2023, demand rises for bigger homes: Anarock
"Northbound housing prices in the top cities have in no way dispelled the demand for generous living spaces," Anarock Chairman Anuj Puri said
Back to campus: Startups to fire up hiring engine for talent boost
Hiring among these startups increased by 20 per cent during the year compared to 2022. Moreover, they reported that the reduction in their workforce decreased by 7 per cent in 2023
 "Back to campus: Startups to fire up hiring engine for talent boost")
IT services companies' GenAI investments likely to soar this year
Clients in the Asia-Pacific (APAC) region are expected to treble their investments in GenAI, although they currently lag behind their North American counterparts
 "IT services companies' GenAI investments likely to soar this year")
Television may cost 10% more as prices of open cells continue to increase
The retailer said some manufacturers might pass it on in a staggered manner as they also sit on some amount of inventories
 "Television may cost 10% more as prices of open cells continue to increase")
New affordable housing plan likely before 2024 Lok Sabha elections
Govt takes feedback for credit-linked subsidy scheme in urban areas
 "New affordable housing plan likely before 2024 Lok Sabha elections")
Indian companies look to cash in on bulging infrastructure order book
The growth of the big companies is trickling down to smaller companies and suppliers too
 "Indian companies look to cash in on bulging infrastructure order book")
Lava, Qubo lead in customer ratings among Indian brands, says Techarc
The firm conducted a study based on ratings received by 25 brands across 35 different product categories on e-commerce platforms Amazon and Flipkart in December
 "Lava, Qubo lead in customer ratings among Indian brands, says Techarc")
India's maiden critical minerals bid: Experts caution on ecological impact
During the launch of the auction process on November 29, Union Minister of Mines Pralhad Joshi said that the collective value of these 20 blocks was estimated to be $5.4 billion (Rs 45,000 crore)
 "India's maiden critical minerals bid: Experts caution on ecological impact")
India's natural gas demand is expected to rise 6% in 2024, says IEA
Due to rise in consumption in fertiliser units, power generation and industrial sectors
 "India's natural gas demand is expected to rise 6% in 2024, says IEA")
As many as 431 infra projects show cost overrun of Rs 4.82 trillion in Dec
According to the report, the expenditure incurred on these projects till December 2023 is Rs 16,26,813.80 crore, which is 53 per cent of the anticipated cost of the projects
 "As many as 431 infra projects show cost overrun of Rs 4.82 trillion in Dec")