SpiceJet enters settlement agreement with lessor Goshawk for 3 aircraft

SpiceJet has signed a settlement agreement with aircraft lessor Goshawk Aviation Ltd and its affiliated leasing entities Wilmington Trust SP Services Ltd, Sabarmati Aviation Leasing Ltd and Falgu Aviation Leasing Ltd for two Boeing 737 MAX and one Boeing 737-800 NG aircraft. The airline said the agreement – the…

Mukesh Ambani draws nil salary for second year in row

Billionaire Mukesh Ambani, for the second year in a row, drew no salary from his flagship firm Reliance Industries in the last fiscal as he voluntarily gave up remuneration in light of the pandemic hitting the business and economy. In its latest annual report, Reliance said Ambani’s remuneration for the financial…

Services will remain affordable even with 5G, says telecom minister

Telecom Minister Ashwini Vaishnaw said 5G services in the country are expected to begin in October and the telecom sector will remain one of the most affordable in the world, even with 5G. “We had requested the industry to start the process of setting up equipment all over the country. The auction concluded…

US-based crypto project Nomad hacked, funds worth almost $200 million stolen

US-based crypto project Nomad has been hit by a massive hack where almost $200 million dollars have been compromised on the platform. It is said that the hackers exploited a vulnerability in the transactional call data function of the platform and exploited multiple users. Confirming the hack, the official Twitter…

Rupee hasn’t collapsed, finding its ‘natural course’, says Nirmala Sitharaman

Amid concerns over the decline in the value of the rupee against the US dollar, Finance Minister Nirmala Sitharaman on Tuesday emphasised that there was no collapse of the unit and it was actually finding its natural course, as reported by PTI. Sitharaman informed the Rajya Sabha that the Reserve Bank of India (RBI)…

Income Tax Return filing date is nearing and you shouldn’t wait. Here’s why

Even when the government extended the deadline for filing income tax returns (ITR) over the last two financial years owing to the Covid-19 pandemic, the government has made it clear that it is not going to do the same this fiscal. On July 24, a top official said that the government is not considering extending the…

5G spectrum auction to start on Tuesday; Reliance Jio, Bharti Airtel among 4 cos in fray

The 5G spectrum auction will begin on Tuesday with four players, including Reliance Jio and Bharti Airtel, set to bid for 72 GHz of radiowaves worth Rs 4.3 lakh crore on offer. The bidding process is scheduled to start on Tuesday from 10 am and go on till 6 pm. The number of days of auction will depend on the actual…

Gautam Adani overtakes Bill Gates to become 4th richest man in the world

Gautam Adani, chairman of the Adani Group, became the fourth richest man in the world, overtaking Microsoft co-founder Bill Gates with an estimated wealth of $115.5 billion on Thursday. The Indian businessman eclipsed Gates, whose net worth is pegged at $104.6 billion according to the Forbes’ Real-Time…

Rupee recovers 8 paise to close at 79.91 against US dollar     

The rupee recovered 8 paise to settle at 79.91 (provisional) against the US currency on Friday, tracking heavy buying in domestic equities and weakness in the greenback overseas. Besides, fresh foreign capital inflows also supported the local unit, forex dealers said. At the interbank foreign exchange market, the local…

Sri Lanka economic crisis: Potato, onion cost over Rs 200, tomato price at Rs 150

Skyrocketing prices of vegetables are burning holes in the pockets of consumers in Sri Lanka, which is grappling with its worst political and economic crisis since its independence in 1948. To make matters worse, most vegetable prices have more than doubled, while the rate of rice has increased from Rs 145 per kilogram…