Monday, November 25
Government on Thursday cleared proposals for three semiconductor manufacturing units worth Rs 1.3 lakh crore, including the country's first fab manufacturing plant by Tata Group and Taiwanese Powerchip Semiconductor Manufacturing Corp (PSMC) in Gujarat. This will be a big push to India's electronics manufacturing set-up as the chips will be made within the country for the first time.
The dollar steadied as U.S. inflation eased, raising hopes of Fed rate cuts. Yen approached 150 per dollar. Bitcoin paused near a two-year high. Euro zone inflation slowed. Australian and New Zealand dollar rose.
Banks calculate fixed deposit interest rates during leap years using different methods. Bank of Baroda calculates interest quarterly and proportionately for incomplete quarters. ET noted that Maturity Amount is computed without considering TDS effect. Other banks calculate interest based on the actual number of days.
British Airways parent IAG announced Thursday that net profit surged six-fold last year, boosted by "strong" demand particularly from leisure travellers as the bounceback from Covid continued. IAG was formed from 2011 merger of British Airways and Iberia and has since expanded to also include Aer Lingus, Level and Vueling.
The Directorate General of Civil Aviation (DGCA) has fined Air India Rs 30 lakh for the recent death of an 80-year old passenger. The passenger chose to walk from the aircraft to the terminal due to a shortage of wheelchairs. An advisory has also been issued to all airlines to ensure that an adequate number of wheelchairs are available for passengers who require assistance.
