Daily News

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SpiceJet to de-merge cargo arm by April 1, convert Carlyle's debt to equity & raise funds via QIP

SpiceJet will de-merge its cargo business to subsidiary SpiceXpress & Logistics into a new company by April 1.

Carlyle Aviation Partners has agreed to convert its outstanding lease rental into equity. SpiceJet will convert shares worth around $ 29.5 million at a price of Rs 48 per equity share.

Carlyle Aviation Partner will have over 7.5% equity stake in SpiceJet Ltd.

Did you Know

Ajay Singh, Chairman and Managing Director, SpiceJet.

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Vistara Brand To Be Discontinued With Air India Merger

Tata Group now owns 4 Indian airlines, including Air India, Air India Express, Vistara, and AirAsia India.

Below is the plan to integrate these various airline brands:

1. Air India and Vistara to be merged into one, and the airline will be branded as Air India

2. Air India Express and AirAsia India to be merged into one, and the airline will be branded as Air India Express.

Did you Know

Air India CEO: Campbell Wilson.

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National Science Day | 28 February

National Science Day is celebrated in India on February 28 to mark the discovery of the Raman effect by physicist Sir CV Raman on the same day in 1928. For this discovery, he was awarded the Nobel Prize in Physics in 1930. "Global Science for Global Wellbeing" is the official theme for National Science Day 2023.

Did you Know

National Science Day was first celebrated in 1986

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Lionel Messi wins 2022 FIFA Best Award, become third player to win prize twice after Ronaldo, Lewandowski

Lionel Messi clinched the 2022 FIFA Best Men's Award in a ceremony held in Paris. The star Argentine footballer has won the prestigious award for the second time since its inception in 2016. Messi has become the third footballer after Cristiano Ronaldo (2016, 2017) and Robert Lewandowski (2020, 2021) to win the award for second time.

Did you Know

Croatian Footballer Luka Modric won the prize in 2018.

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Dr Reddy's acquires Mayne Pharma's USA prescription portfolio for $105 mn

Dr Reddy’s Laboratories (DRL) has entered into a definitive agreement to acquire the US generic prescription product portfolio of Australia-based Mayne Pharma Group for $90 million upfront and contingent payments of up to $15 million (Rs 123 crore). The acquisition will complement DRL’s US retail prescription pharmaceutical business with limited competition products.

Did you Know

Erez Israeli, Chief Executive Officer, DRL.

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Rare Disease Day | 28 February

Rare Disease Day is an international event held on the last day of February to raise awareness about the impact of rare diseases on patients' lives and to emphasize the need for research. Rare Disease Day 2023 Theme: Majority of the rare diseases are genetic in nature.

Did you Know

In 2017, India formulated a National Policy on Rare Diseases & a revised policy in 2021.

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Prime Minister Shri Modi transfers Rs. 16,800 crore towards PM Kisan Samman Nidhi

Prime Minister Shri Narendra Modi transferred the 13th installment of about Rs 16,800 crore under the ambitious Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme of the Government of India, through Direct Benefit Transfer (DBT) to the bank accounts of more than 8 crore beneficiary farmers across the country.

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Bank credit growth slowed to 16.8% in third quarter: RBI

Indian banks' credit growth doubled to 16.8% in the October-December quarter from a year earlier, data released by the Reserve Bank of India (RBI) showed. Bank credit had expanded by 8.4% in the quarter ended December 2021 and 17.2% in the quarter ended September 2022, as per the data. Banks' aggregate deposits increased by 10.3% year-on-year in the December quarter.

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Infosys Collaborates with Microsoft to Accelerate Industry Adoption of Cloud

Infosys, Indian multinational information technology company, today announced its collaboration with Microsoft, to help accelerate enterprise cloud transformation journeys worldwide. According to the Infosys Cloud Radar, enterprises can add up to $414 billion in net new profits, annually, through effective cloud adoption.

Did you Know

Anant Maheshwari, president, Microsoft India.
Salil Parekh, CEO & MD Infosys.

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Financial crime watchdog FATF suspends Russia over Ukraine war

Global financial crime watchdog Financial Action Task Force (FATF) suspended Russia's membership, saying Moscow's war in Ukraine violated the organisation's principles. FATF is an inter-governmental organisation set up to combat money laundering and terrorism financing by setting global standards and checking if countries respect them.

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Kerala inks pact with UN Women to empower women in tourism

Kerala entered into an agreement with UN Women, boosting women-friendly activities in the State’s tourism sector by training stakeholders who include young representatives and civil organisations. As per the pact inked at the first-ever Global Responsible Tourism Summit in Kumarakom, both parties will promote women-friendly tourism in Kerala.

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Daniil Medvedev beats Andy Murray, wins Qatar Open title

Daniil Medvedev maintained his winning run to beat Andy Murray in the Qatar Open final and claim his second title in successive weeks. Murray, bidding for his 47th career title but first since 2019, pushed the Russian hard but succumbed 6-4, 6-4 in a battle of former world No 1s. Medvedev also triumphed in Rotterdam last week and now has won 18 Tour-level titles.

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CJI DY Chandrachud announces launch of 'neutral citations' for SC judgements

Chief Justice of India D Y Chandrachud announced launch of 'neutral citations' which would ensure a uniform pattern of citing the decisions of the Supreme Court. It is introduced implementation of a uniform, reliable and secure methodology for identifying and citing decisions in the apex court.

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NTPC has been ranked as the top independent power producer and energy trader globally by S&P Platts

National Thermal Power Corporation (NTPC) Limited, the country’s largest power generating company has been ranked as the number one independent power producer and energy trader globally in the S&P Global Commodity Insights Top 250 Global Energy Company Rankings-2022. These rankings are based on four key metrics- asset worth, revenues, profits, and return on investment.

Did you Know

NTPC currently provides 24% of the total electricity produced in India.

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Karnataka Bank and Paisalo Digital Limited enter into Co-Lending Agreement

Karnataka Bank (KBL), a leading Private Sector Bank and Paisalo Digital Limited (PDL), a Non-Deposit taking NBFC registered with the Reserve Bank of India have entered into a Co-Lending arrangement to provide financial support to small income segment and to give impetus to the Micro & Small Enterprise (MSEs) Segment of the country.

Did you Know

Mahabaleshwara M S, Managing Director & CEO, Karnataka Bank.

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Govt plans 10 'Clean Plant Centres' to boost fruit crop production

With the demand for foreign planting materials of fruits like apple, avocado and blueberry rising over the years, the Centre plans to set up 10 ‘Clean Plant Centres’, on the lines of those in developed countries such as the US, Netherlands and Israel, to boost domestic production of the selected crops.

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India 7th biggest nation ready to adopt crypto in 2023, US second

According to HedgewithCrypto research, Australia is the biggest country when it comes to the adoption of cryptocurrency in 2023 with a score of 7.37 out of 10. The sale of cryptocurrency and other digital assets is legal and regulated in Australia. India emerged as 7th biggest nation ready to adopt crypto in 2023. USA ranks as the second biggest country in crypto adoption.

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