Rupee rises to 72 against dollar as crude oil price nears $65 per barrel : Bulletin: Business Today
Business Today

Rupee rises to 72 against dollar as crude oil price nears $65 per barrel

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November 14, 2018

Apple appoints Nokia's Ashish Chowdhary to lead India operations

Apple has appointed Nokia's Chief Customer Operations Officer (CCOO) Ashish Chowdhary as operation head for India to oversee the sales function. Chowdhary had joined Nokia in 2003 and will take responsibilities in Apple from January 2019. Apple CEO Tim Cook had recently said how the company has a "long-term focus on the market" in India. Chowdhary, replacing the company's current India operations head Michel Coulomb could be a move in this direction.
Rupee rises to 72 level against dollar as crude oil price nears $65 per barrel

The Indian rupee hit the 72 per dollar level for the first time since September 21 as oil prices posted the deepest plunge in more than three years in the international market. Brent crude, used to price international oils, dropped 30 percent to $65.17 a barrel. Oil has now fallen for 12 straight days, driven by worries over rising oil production around the world and weakening demand from developing countries, with expectations for increased supply from the US and OPEC.
Binny Bansal quits Flipkart over personal misconduct allegations

Flipkart co-founder Binny Bansal has resigned as the group chief executive officer following an independent probe into allegations of "serious personal misconduct", the firm's owner Walmart Inc said Tuesday. Binny, 37, has strongly denied the charges and said he was "stunned" by the allegations. Binny added that he will continue to remain a large shareholder and Board member of the company that he had co-founded 11 years ago. Walmart said Binny's decision to step down followed an independent investigation done on behalf of Flipkart and Walmart, even though the probe "did not find evidence to corroborate the complainant's assertions" against him. The company, however, did not provide details of the nature of misconduct or the findings of the probe.
Twitter CEO Jack Dorsey meets PM Modi

Twitter co-founder and CEO Jack Dorsey Tuesday met Prime Minister Narendra Modi and discussed the importance of global conversations on social media platforms. After his meeting, Dorsey tweeted pictures from his meeting and said: "Thank you Prime Minister @narendramodi for having us today. I enjoyed our conversation about the importance of global conversation. Also: thanks for the ideas for Twitter!" In response, Modi said: "Delighted to meet you @jack! Happy to see the passion with which you're leading @Twitter. I enjoy being on this medium, where I've made great friends and see everyday the creativity of people."
Govt masterstroke! 14 mega employment zones expected to create 10 million jobs

The Modi government has long been criticised for jobless growth, especially after making it a key electoral promise back in 2014. But it hopes to address the issue with its ambitious plans for 14 mega national employment zones, which has finally moved a step forward. The project appraisal and management division of think tank NITI Aayog has given its go-ahead to the Rs 1 lakh crore proposal of the shipping ministry that is expected to provide direct and indirect jobs to one crore youth over the next five years, The Economic Times reported. The proposal envisages setting up 14 national employment zones in the coastal states under the special purpose vehicle route, and is expected to be rolled out ahead of general elections next year, when employment generation is sure to emerge as a key issue.
Jet Airways in various stages of talks with multiple parties for stake sale and funding

Cash-strapped Jet Airways Tuesday said it is at various stages of discussions with multiple "interested parties" for capital infusion and partial stake sale in its loyalty programme Jet Privilege. The Naresh Goyal-run airline is looking for investors to tide over the liquidity crisis, which has resulted in delayed payments to some vendors and salaries to a section of its over 16,000 employees. "We are working towards various liquidity initiates to bridge the gap. We have engaged the services of experts to help in the turnaround plan and enhance liquidity," deputy chief executive and chief financial officer Amit Agarwal told analysts



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