INTERNATIONAL EVENINGS
'PVR Inox derisking by making costs variable'
PVR Inox is implementing strategic changes in its multiplex business to mitigate risks and ensure profitability, focusing on revenue sharing, cost optimisation, and debt reduction. The chain plans to shut down non-performing screens, expand food courts, and introduce diverse content to attract more audiences. The company aims to open new screens while navigating challenges such as competition from OTT platforms and economic fluctuations.
Iran vote winner could ease, but won't end nuclear tensions: analysts
Masoud Pezeshkian's victory in Iran's presidential elections has brought hope for easing tensions over Tehran's nuclear program, defeating ultra-conservative Saeed Jalili with support from former president Hassan Rouhani. Despite not being the primary authority on foreign policy or nuclear issues, Pezeshkian aims for constructive relations with the West, contrasting Jalili's hardline stance. However, challenges remain as Iran's nuclear program has advanced significantly, impacting potential negotiations.
Marriott ties up with Whiteland corporation for first branded residences project
The Gurugram property, with an investment of more than Rs 5,600 crore, will be developed in phases with local developer Whiteland Corporation and will encompass an area of 6 million square feet, Trinh Quynh Phuong, vice president of mixed-use development for Asia Pacific at Marriott International, told ET.
Ashutosh Bhargava on why investing in silver ETFs can enhance portfolio performance
It is very simple, what we call it 50-20-15-15, 50 for domestic equity, up to 20 for international equity, around 15 for commodities, 15 for fixed income.
NIT Mizoram achieves impressive placement record for 2023-2024 academic session with 86.7% overall placement
NIT Mizoram posted an 86.7% placement rate for 2023-2024, with the highest salary package at 14.5 LPA and an average over 7 LPA. Over 75 companies, including Adobe, Deloitte, Vedanta, and Mahindra & Mahindra, recruited students. Among the students, Shristi Sharma and Nishant Nitin Mishra, who secured four job offers, praised the Training and Placement Office. Internships, part of the curriculum, involved 100% student participation with organizations like SAIL, Indian Railways, and Google, offering stipends between ₹5,000 to ₹20,000 per month.
Canopy collapse: Delhi Airport plans flight adjustments to ease congestion at T2 and T3
Delhi Airport is taking steps to reduce congestion at Terminals 2 and 3 following the temporary closure of T1 due to a canopy collapse. Ninety-three domestic IndiGo and SpiceJet flights have been relocated to T2 and T3. To further ease congestion, six flights will move from T2 to T3, and flight schedules will be adjusted to limit T2 departures to ten per hour. These measures will be implemented by July 8 after consultations with airlines.
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Hindenburg has never been a client of the firm, Kotak Mahindra International says
Kotak Mahindra International Limited (KMIL) clarified on Tuesday that Hindenburg has never been a client or investor of the firm. The company made the statement to address any confusion regarding their relationship with Hindenburg.
Fresh twist: Hindenburg gets Sebi notice for ‘shorting Adani shares’
Hindenburg termed the Sebi’s notice, dated June 26, as “nonsense, concocted to serve a pre-ordained purpose, an attempt to silence and intimidate those who expose corruption and fraud perpetrated by the most powerful individuals in India”. Apart from the research firm, its founder Nathan Anderson, Mark E Kingdon, Kingdon Capital Management, Kingdon Offshore Master Fund and K- India Opportunities Fund (KIOF) - Class F, too, were served the notice.
International toy fair to begin on July 6; over 100 foreign buyers to participate
Wooden toy maker Gautam said that different categories of toys will be showcased to buyers such as electronics, soft toys, playground equipment and board games. The country's toy exports declined marginally to USD 152.34 million in 2023-24 from USD 153.89 million in the previous financial year, according to a report by economic think tank GTRI.
Delhi Airport T1 Canopy Collapse: Terminal 1 operations suspended, passengers advised to check flight updates
Following a tragic canopy collapse at Delhi's Indira Gandhi International Airport, operations at Terminal 1 have been suspended indefinitely. The incident, which occurred during heavy rainfall, claimed one life and injured eight others. Delhi International Airport Limited (DIAL) has relocated all flights to Terminals 2 and 3, affecting over 20 IndiGo flights. A technical committee is investigating the cause, while the government has initiated airport-wide structural assessments. Passengers are advised to check flight statuses as authorities work to restore normal operations swiftly.
Maruti Suzuki among 5 auto stock picks from Motilal Oswal
Motilal Oswal predicts subdued growth for the Indian auto sector in June, with declining retails across most segments due to factors like post-election consumer sentiment and heatwave impact. However, they remain optimistic about select OEMs like Maruti Suzuki and Ashok Leyland, and ancillary companies like Craftsman Automation, Happy Forgings, and Samvardhana Motherson International, advocating for micro-strategies to navigate the sector's challenges.
Going forward, expect good growth from Aadifidelis Solutions: Shikhar Aggarwal, BLS International
Shikhar Aggarwal, Joint MD, BLS International Services talks about inclusion in Nifty tourism index, synergies from buying stake in Aadifidelis Solutions and more. Aggarwal also discusses the major contract renewals which are expected in the next six to nine months. He also says that in one, one-and-a-half years, multiple contracts are expected from European and North American markets
Atal Setu cracks: MMRDA expects repair work to be completed by evening
The repair work by the Mumbai Metropolitan Region Development Authority (MMRDA) is underway on the approach road connecting Atal Setu in Maharashtra's Mumbai.. Project Head Kailash Gantra said that the repair work will be completed by this evening.
PM Modi leads 10th International Yoga Day celebrations in J-K's Srinagar
Prime Minister Narendra Modi led the 10th International Yoga Day celebrations on Friday at the Sher-e-Kashmir International Convention Centre (SKICC) in Srinagar, Jammu and Kashmir. The event focused on Yoga's impact on young minds and bodies and aimed to promote health and wellness globally.
International Yoga Day 2024: Date, theme, event happening in Srinagar, and other details
On June 21, 2024, the world will celebrate the tenth International Yoga Day, promoting the psychological, spiritual, and physical benefits of yoga, symbolized by the Sanskrit term 'yoga' meaning 'to join or to unite'.
International Yoga Day: Even pregnant women not spared, alleges Mufti on J-K employees being forced to take part
PDP president Mehbooba Mufti criticises Jammu and Kashmir administration for allegedly forcing employees, including pregnant women, to report for International Yoga Day event at odd hours. PM Modi to lead main IYD celebrations at SKICC on Friday.
Russian economy has withstood what even China could not have achieved: Prof. Alexander Dynkin
Prof. Alexander Dynkin discussed the significance of the Primakov Readings International Forum and the role of BRICS in shaping global economic trends. He emphasized India's pivotal role in BRICS and highlighted the growth potential in Russia-India ties. Dynkin provided insights into the Russian economy, foreign policy priorities, and commitments towards fostering regional stability and collaboration, especially in Africa. His analysis underscored Russia's resilience and strategic positioning in the evolving global landscape.
Titan submersible disaster: Many questions remain unanswered even after one year of tragedy
The Titan submersible lost contact and imploded during a dive. All the passengers on board were killed. As soon as the deaths were confirmed, OceanGate promptly stopped all commercial and exploratory operations.
Good time for IndiGo to grab market share in international segment: Pieter Elbers
If you look at international, though, we do 33 destinations today and they are pretty much in the region and some of the regional and I would say beyond regional expansions, which we recently did, starting flights into Africa, starting flights into Indonesia and starting flights into Central Asia, have been extremely encouraging.
Satellite launch market grim, need to create internal demand: ISRO chairman S Somanath
ISRO chairman S Somanath stresses the need to create internal demand for rockets, referencing PSLVs, SpaceX, and Blue Origin's strategies.
Tourist footfall reaches 1 crore-mark in Goa; visitors flocking even in monsoon: Minister Rohan Khaunte
Goa's Tourism Minister Rohan Khaunte revealed that the number of visitors to the state surpassed one crore in the recent tourist season, with a significant increase in international tourists post-COVID-19. Despite acknowledging competition from other states and international destinations, Khaunte emphasised the need for Goa to tap into new markets and address challenges such as high costs during peak seasons, aiming to enhance the tourism industry with stakeholder collaboration.
Dollar gains on hawkish Fed, even as inflation cools
The dollar strengthened despite weak U.S. producer price data for May, following a hawkish Federal Reserve meeting. U.S. producer prices fell unexpectedly in May, with core prices remaining flat. The Federal Reserve's stance on interest rates also influenced the dollar's performance.
Has the International Space Station been affected by a Super Bug?
Astronauts at the International Space Station are likely to have been exposed to 13 strains of a super bug. Bacteria is believed to have mutated causing the superbug.
Smooth flying: India plans to simplify immigration checks for international trips
The Indian government aims to develop airports as transit hubs for South Asia, incorporating a strategy called the confluence of flights. This allows travelers on connecting flights under the same ticket number, or PNR, to complete customs and immigration checks at their initial departure point and final destination, bypassing intermediary checks during layovers.
IndiGo draws upgrades with focus on yields even as it adds capacity
During FY22 and FY24, IndiGo has been following a clear strategy of expanding capacity at a brisk pace and boosting yield - revenue per km per paid passenger. During this period, the airline has been adding capacity in the range of 22-63% on a year-on-year basis. In the same period, yield jumped 19% to ₹5.08 per kilometre in FY24.
Iran's nuclear policy of pressure and talks likely to go on even after president's death
Iran's nuclear program is nearing weapons-grade uranium enrichment, prompting indirect talks with the U.S. and inviting the UN atomic watchdog for negotiations. This strategy aims to lift economic sanctions crippling Iran's economy. Following a major attack on Israel amid its Gaza conflict, Iran seeks to manage risks from the U.S. Despite the recent helicopter crash killing key Iranian leaders, Supreme Leader Ayatollah Ali Khamenei remains in control, continuing efforts to balance pressure and diplomacy. Indirect talks with the U.S. are ongoing, with uncertain outcomes.
Fed remains cautious on cuts even as data improves
"I don't see any indicators now telling me ... there's a reason to change the stance of monetary policy now," Williams said in an interview with Reuters, adding that he did not expect the case for a rate cut to fall into place "in the very near term."
How an email sent 24 airports, businesses, and even CISF into a security frenzy
An alarming email from group 'Terrorizers 111' has sparked nationwide security measures at 24 airports. Sent from [email protected], the threat prompted swift action from cyber security agencies. Despite doubts about its credibility, security forces are on high alert. Police mobilized to airports, conducting thorough checks. Efforts by anti-terror squads and intelligence agencies are underway to identify the source and ensure safety.
Dubai airport issues alert even as partial flight operations resume after record rainfall
Dubai Airport has issued warnings advising passengers to avoid non-essential travel due to the operational difficulties caused by severe weather conditions. They recommended that travelers refrain from going to the airport unless absolutely necessary, as flights are experiencing delays and diversions due to the unprecedented rainfall in the emirate.
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