ANNUAL PLANS
Airtel, Jio announce mobile tariff hike: Here is the full list of new prepaid and postpaid plans and prices
Mobile Tariff Hike: Airtel and Jio and have announced significant tariff hikes, marking the first major rate increase by a telco since 2021. Jio’s new rates, effective July 3, increase by 12-25%, while Airtel’s hikes start immediately. These adjustments aim to boost average revenue per user (ARPU) due to substantial investments in 5G services.
Jio, Airtel Tariff Hikes: Users can still avoid increased prices. Here's how
Reliance Jio and Airtel will raise tariffs from July 3, 2024, to boost Average Revenue per User (ARPU), impacting millions of subscribers. Prepaid users can avoid hikes by recharging before July 3. Adjustments range from 12% to 25% for Jio and 11% to 21% for Airtel. Postpaid users will see immediate changes in their billing cycles.
Vi follows Jio, Airtel to raise tariffs; new plans effective July 4
Vodafone Idea has launched new plans for prepaid and postpaid customers starting July 4, 2024, following Jio and Airtel's footsteps. The changes are minimal, aligning higher prices with increased usage, and Vi aims to provide simple, comprehensive plans.
Nike stock plunges as gloomy sales forecast fans growth concerns
Nike faces stock woes and market challenges, prompting a potential shift in leadership under CEO John Donahoe's digital-focused strategy. The company's strategic pivots towards sustainability and product revamps aim to counter market pressures, signaling a critical phase for Nike's future direction and management dynamics.
Jio hikes tariff by 12.5 to 25%; launches new plans
On Thursday, Jio, owned by Reliance, revealed a tariff increase ranging from 12.5% to 25% alongside the introduction of new plans. In the recent spectrum auction by the Department of Telecommunications, Jio secured additional 1800 MHz band spectrum for Bihar and West Bengal, as informed by Reliance Industries to the exchanges on Wednesday.
BPCL sees nearly flat annual crude processing, executive says
Bharat Petroleum Corp (BPCL) anticipates no major changes in its annual crude processing for the current fiscal year despite a planned maintenance shutdown. BPCL will temporarily close a 120,000 bpd crude unit at its 310,000 bpd Kochi refinery for a month starting mid-September, stated Sanjay Khanna, BPCL’s head of refineries. Last fiscal year, BPCL processed nearly 800,000 bpd across its three refineries. BPCL is also expanding its Bina refinery to 220,000 bpd by mid-2027 and constructing a petrochemical plant to be operational by mid-2028.
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FedEx climbs on cheery annual profit forecast, freight business review
FedEx shares jumped 13% premarket on Wednesday after the delivery giant reassured investors with a largely upbeat annual profit forecast and said it would weigh options for its less-than-truckload business that one analyst valued at $30 billion.
PM Modi plans Moscow visit in July 2nd week for next edition of annual summit
Prime Minister Narendra Modi plans to visit Moscow from July 7-10 for a bilateral annual summit aimed at deepening the strategic partnership between India and Russia. This will be Modi's first visit to Russia since 2019, as prior visits were hindered by the pandemic and the Ukraine war. The visit, which follows Modi's re-election, will focus on energy, defense, connectivity, and natural resources. The trip will also allow Modi to discuss the Ukraine conflict and emphasize dialogue and diplomacy, reflecting India's neutral stance on the issue.
Take charge of finances: How to make a personal financial bucket list to achieve all your goals
Taking control of our money lives is something many of us are unable to do. It sounds simple, but many of us do not believe we can take charge and do something about our dreams. Slipping into excuses, living in denial of our true situation, blaming the world for our unhappiness, and assigning it to bad luck are tactics that stop us from asking what we could do.
CEO succession planning is important. But how you go about it makes all the difference
Succession planning, including CEO succession plans and leadership pipelines, is crucial for company stability and success. Companies with robust succession plans outperform peers by 20% in revenue growth. Neglecting leadership pipelines can cost companies nearly $1 trillion annually, emphasizing the importance of effective planning.
Bajaj Auto looks to sustain domestic business momentum; recover export volumes
Bajaj Auto aims to sustain momentum in domestic business and expand production capacity for new ventures. Chairman Niraj Bajaj expects robust demand in FY2024, with a focus on recovering export volumes.
Buying gold annually in order to diversify allocation of forex reserves: Shaktikanta Das
I think SEBI is engaged with that. So, let me not intrude into SEBI's territory and start talking about the stock markets. I think SEBI is fully seized of what is happening in the markets and we have our regular interactions with the SEBI as a part of the FSDC, the Financial Stability and Development Council, we have also a subcommittee which is chaired by the governor.
First NFRA annual report on eight audit firms by November
The National Financial Reporting Authority (NFRA) is set to conduct its first annual inspection of eight audit firms, including the Big Five, to reveal its findings by October or November. The inspection will focus on auditors' processes and standards, revealing how NFRA plans to strengthen the country's audit and accounting ecosystem to combat corporate frauds and uphold shareholders' interests in a rapidly growing economy.
Parent of India's Vedanta proposes to cut debt by $3 billion over next three years
Vedanta Resources, the UK-based parent company of Indian miner Vedanta Ltd, plans to cut its debt by $3 billion over the next three years. The company, which has been facing multiple rating downgrades due to liquidity issues and high default risk, will use the newfound liquidity from its $3.20 billion outstanding bonds to fund crucial capex projects.
Adobe surges 16% as AI optimism fuels annual revenue forecast
The forecast reassured investors that Adobe, a key player in the market for photo and video editing tools, is unlikely to lose customers to AI startups like OpenAI, the creator of Dall-E, which enables users to generate images with simple text prompts.
Muslims start the Hajj against the backdrop of the destructive Israel-Hamas war
This year's Hajj came against the backdrop of the raging war in the Gaza Strip between Israel and Palestinian militants, which pushed the entire Middle East to the brink of a regional war between Israel and its allies on one side and Iran-backed militant groups on the other. Palestinians in the coastal enclave of Gaza were not able to travel to Mecca for Hajj this year because of the closure of the Rafah crossing in May when Israel extended its ground offensive to the strip's southern city of Rafah on the border with Egypt.
Apple shows off AI features at annual conference
Apple also said it would group messages in its email client starting later this year, categorizing them in a primary folder, a transactions folder, a promotions folder and other more specific groupings, for instance communications by an airline. The high-level categorizations are similar to a now-old feature in competitor Google's Gmail.
AI is sole focus at Apple's annual conference
Apple faces competition from Nvidia and plans to introduce AI features in iOS 18 at the conference. The event will highlight advancements in Siri and AI chip technology.
UK announces plans to introduce new caps on work & family visas
UK's ruling Conservative party plans to implement new annual caps on work and family visas to curb rising net migration levels ahead of the upcoming July election.
Netskope crosses $500 million in subscription revenue, in no rush to go public
Chief executive Sanjay Beri said the company has been making internal preparations for an initial public offering (IPO) but there was no rush in an election year.
IBA chief explains what bank frauds really are, stresses on critical 'golden hour'
As per the RBI's recent annual report, fraud cases surged to 36,075 in FY24, marking a significant rise from 13,564 reported in the previous fiscal year. The report highlighted that a majority of these frauds, in terms of volume, were related to digital payments, including card and internet transactions.
Series AA 127- The EV transformation-Part 1: How a multibagger got fresh tailwinds & gave 22,334% return in the last 20 years
Excerpts from its annual report for 2017-18. ELECTRIC VEHICLES – THE NEW MARKET DISRUPTOR “We are anticipating the next market disruption through electric vehicles. We are closely reviewing and watching the situations and doing our ground level work. We are also mapping all of our existing products vis-à-vis EV to capitalise on the opportunities EV will throw at the component manufacturers, whether it is motors, batteries or any other system which will come into the electric vehicles, totally different from the conventional IC engine” Cut to August 2023, five years down the line, the company commissions two plants for making on-board charger, off-board charger, motor control Units, DCDC converters, battery management systems, and more products catering to EV 2-wheelers and 3-wheelers. Now this is a reflection of the speed at which an auto ancillary company needs to function and also the product range it needs to have if it has to stay relevant in the changing world of the auto Industry. Foresight, planning and timely execution is the key.
Aramco kicks off giant share sale in test of investor appetite
Saudi Arabia is looking to attract more international shareholders after Aramco’s mega IPO five years ago turned out to be largely a local affair. Investors will need to weigh a $124 billion annual dividend payout, one of the world’s heftiest, against shares that are far more expensive than other energy supermajors. Government control and the demand outlook for oil in the face of climate change also present long-term risks.
Adani One superapp clocked gross sales of Rs 750 crore in FY24
According to the 2023-24 annual report of the Ahmedabad-based conglomerate's flagship company Adani Enterprises, the user base of the superapp grew to 30 million at the end of the financial year. The company aims to expand the superapp's customer base to 400 million by 2030. Adani group is also in discussions with Paytm for potentially acquiring a stake in the fintech firm.
Oyo’s maiden annual profit; RBI guidelines for fintech SRO
In a significant turnaround, hospitality startup Oyo reported its first annual profitable fiscal on Thursday. This and more in today’s ETtech Top 5.
New RuPay credit card on UPI launched: Attractive reward points on online, UPI, offline transactions; lifetime free, other features
IndusInd Bank and Poonawalla Fincorp have launched a co-branded RuPay Platinum Credit card. This card offers reward points on everyday spending on e-commerce websites, including UPI transactions and point-of-sale machine transactions. It has no joining and provides benefits like movie ticket offers and fuel surcharge waivers. All you need to know about IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card.
JioCinema New Plan : Price and discount, validity, perks, how to get, Netflix comparison
Mukesh Ambani's OTT platform business JioCinema has quietly launched two exciting new subscription plans to cater to its customer base, which is Indian. The company, keeping in mind the needs of Indian consumers, has come up with discounted rates for the new Premium Ad-free subscription plans.
Air India gives salary increments to staff; announces target performance bonus for pilots
Air India unveiled its annual salary increments for employees and introduced an annual target performance bonus for pilots, marking the first appraisal cycle since the Tata Group assumed control of the struggling airline over two years ago. Alongside the rise in fixed pay for the fiscal year 2023-24, Air India has implemented an element of annual target performance bonus for its pilots, contingent upon both company-wide and individual performance. This addition will take effect starting from the fiscal year 2024-25.
Crisis-ridden Boeing hopes for quiet annual meeting
Boeing's annual meeting is fraught with tension as shareholders may rebuke CEO Dave Calhoun. Glass Lewis and ISS oppose Calhoun's nomination and pay package. New Chair Steve Mollenkopf plays a key role. Safety concerns linger after Alaska Airlines incident and 737 MAX crashes.
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