The oil marketing companies (OMCs) hiked prices of air turbine fuel (ATF) by 2.8 percent. Accordingly, the price of aviation fuel in Delhi will be Rs 65,908.28 per kilo litre effective from today. This marks an increase of Rs 1,790 per kilo litre.Last month, the government had cut down the capacity for airlines to…
Commercial vehicles major Ashok Leyland on Tuesday said its subsidiary Switch Mobility has fully acquired electric vehicles maker Switch Mobility Automotive Ltd, India. ”Switch Mobility Ltd, UK, a subsidiary of the company, acquired the entire shareholding in Switch Mobility Automotive Ltd, India on June 14, 2021,”…
Toyota Kirloskar Motor (TKM) on Tuesday said it has partially resumed production at its Bidadi-based manufacturing plants in Karnataka. The company noted that it has commenced operations at two facilities with the prescribed workforce strength of 50 percent. The automaker, which sells models like Innova, Crysta, and…
The cryptocurrency market is trading in red on Wednesday, with the market down by over 1 percent. This comes as the market saw a second consecutive week of outflows, adding up to $267 million, representing nearly 0.6 percent of the total asset under management. Ethereum witnessed the largest outflows, while outflows in…
Ahead of Federal Reserve’s Open Markets Committee (FOMC) meet outcome, billionaire hedge fund manager Paul Tudor Jones said investors should double down on defensive investments like cash, commodities, bitcoin. The billionaire who has invested two percent of his portfolio in Bitcoin touted the reliability of the…
Cryptocurrencies have been around for roughly a little over a decade but never have they captured the public’s popular imagination as they have in 2021, thanks to the spectacular rise in their prices led by Bitcoin, which at some point recently had risen more than 500 percent in five months. The wider public interest…
The COVID-19 pandemic and resulting lockdowns have changed the way the world works in many ways, including accelerating a digital revolution that has, among other things, shone the light on cryptocurrencies, such as Bitcoin and Ethereum. A parabolic increase in the price of Bitcoin over the past year has also…
Cryptocurrency investment products and funds saw outflows for a second straight week, with ether posting record outflows as institutional investors took a step back, data from digital asset manager CoinShares showed on Monday. Total crypto ouflows hit USD 21 million for the week ending June 11. Since mid-May, total…
Indian shares rose to all-time highs on Tuesday led by gains in financials and FMCG stocks as investors await the outcome of the U.S. Federal Reserve’s policy meeting later this week. The Sensex ended 221 points higher at its new closing high of 52,773 while the Nifty rose 57 points to settle at its fresh…
As the aviation sector battles the impact of the second wave of COVID-19, sources say that the government will wait before relaxing airline capacity and fare caps for the sector. In fact, the government is believed to have zeroed in on traffic thresholds for easing these limits.While the daily domestic air traffic…