Friday, November 22
Swiss authorities have frozen over $310 million across six bank accounts connected to the Adani Group as part of a money laundering and securities forgery investigation. Initiated in 2021, the probe has uncovered financial practices involving offshore entities. Recent allegations against SEBI chairperson Madhabi Puri Buch have reignited the controversy.
Taiwan's Delta Electronics is set to nearly double its Indian workforce from 3,500 to 6,500 employees over the next five years. The company has opened its largest research center in Bengaluru and plans a $500 million investment. Delta Electronics will also relocate its local headquarters from Gurugram to Bengaluru.
Residential real estate sales in India are being driven by premium and luxury housing, with home loans for properties valued at Rs 75 lakh and above rising from 19% in March 2020 to 31.4% in March 2024. Knight Frank reports that homes priced over Rs 1 crore now represent 41% of housing sales, indicating a consistent growth trend.
Air India has reduced its losses by 60 per cent to Rs 4,444.10 crore in FY24 compared to Rs 11,387.96 crore in FY23. The airline's turnover increased by 23.69 per cent to Rs 38,812 crore during the same period. Tata Group is merging AirAsia India with Air India Express and Vistara with Air India.
The Ministry of Skill Development and Entrepreneurship has teamed up with Swiggy to offer skilling and employment opportunities in its food delivery and quick commerce network. This collaboration aims to benefit 2.4 lakh delivery partners and restaurant staff by providing access to online courses, certifications, training modules, and job opportunities through the Skill India Digital Hub (SIDH).
Boss Packaging Solutions from Gujarat saw its IPO subscribed 127 times, translating to over Rs 1,000 crore in demand. Despite social media concerns about its office location, officials confirmed the company's operations. High investor interest is attributed to market liquidity and FOMO among investors.
The DigiYatra facility, employing facial recognition technology to streamline airport entry and security processes, has been introduced at nine additional Indian airports. Union minister of Civil Aviation K Ram Mohan Naidu inaugurated the service at Visakhapatnam Airport and virtually extended it to eight other locations, offering passengers a seamless and contactless travel experience.
