Banks give up on Jet Airways revival, choose to send it to NCLT : Bulletin: Business Today
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Banks give up on Jet Airways revival, choose to send it to NCLT

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BusinessToday.In | June 18, 2019

Hiring activity increases 11% in May; IT, BPO, education take the lead: report

Hiring activity registered 11 per cent jump in May over the corresponding month last year. This uptick has been fuelled by recruitment activity in the IT-software sector, BPO and education according to the Naukri JobSpeak report. The Naukri JobSpeak Index for May 2019  stood at 2,346, while in May 2018 it was 2,106.

Anil Ambani falls off billionaire club; equity wealth crashes from $42 bn to $0.5 bn

Anil Ambani, who was the 6th richest man in the world with a wealth of $42 billion in 2008, has now crashed out of the billionaire club. In 11 years, the equity value of Ambani's entire business empire has now crashed to Rs 3,651 crore ($523 million). That value, though, also includes substantial pledged shares.

Wave Group Vice Chairman Monty Chadha gets bail in fraud case

Manpreet Singh Chadha aka Monty Chadha, son of slain liquor baron Ponty Chadha has been granted bail in connection with an alleged property-related fraud case. The Economic Offences Wing (EOW) officials of Delhi Police arrested the Vice Chairman of the Wave Group for allegedly duping people to the tune of Rs 100 crore by making false promises of selling flats at cheaper rates.

Banks give up on Jet Airways revival, choose to send it to NCLT

State Bank of India-led consortium of lenders Monday decided to send the grounded Jet Airways to the National Company Law of Tribunal (NCLT) as they have not yet received any concrete proposal for the airline. The decision was taken after a meeting of the lenders.

Fitch cuts India growth forecast to 6.6% for 2019-20 fiscal

Fitch Monday lowered India's growth forecast to 6.6 per cent for the current fiscal from 6.8 per cent projected earlier, as manufacturing and agriculture sectors showed signs of slowing down over the past year. In its latest Global Economic Outlook, the global rating agency retained its GDP growth forecast for the next fiscal (2020-21) at 7.1 per cent and 7.0 per cent for 2021-22.

Huawei phone sales plunge, cutbacks planned as US pressure bites

Huawei's founder said Monday the Chinese telecom giant's overseas smartphone sales have tumbled since the US last month threatened to blacklist the company, and he warned the embattled firm would slash production to weather the US drive to isolate it. Ren added, however, that sales growth in China's domestic market remained "very fast".

Digital payments to more than double to $235.2 billion by 2023: Assocham-PwC study

According to a new ASSOCHAM-PwC India study, India's digital payments transaction value is projected to more than double to $135.2 billion (Rs 9.44 lakh crore) in 2023 from $64.8 billion this year. This is courtesy factors such as the rise of digital commerce, innovations in payments technology using Artificial Intelligence, the Internet of Things (IoT), real-time payments and the introduction of mobile point of sale (POS) devices, all of which are pushing down the cost of acceptance infrastructure.

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