Author: News Desk

The Maharashtra cabinet, in a meeting chaired by Chief Minister Eknath Shinde, has approved a proposal concerning the Dharavi slum redevelopment project. This proposal entails acquiring 283.40 acres of salt pan lands in Mumbai from the Union government on a 99-year lease for rehabilitation purposes. The state housing department presented the proposal, which received approval during the cabinet meeting. Under this initiative, the salt pan lands will be utilized for the rehabilitation of certain Dharavi residents as part of the slum redevelopment project. The market value of these lands will be recuperated from the special purpose vehicle (SPV) responsible for…

As India’s population expands, the rising energy needs present a challenge for the power sector. With increasing demand, there is a shift towards adopting solar and other renewable energy sources. However, the main challenge remains inadequate resources compared to consumption levels. Many individuals find it financially burdensome to afford high monthly electricity bills. In response, the government proposes solar energy as a feasible alternative to conventional electrical power. Finance Minister Nirmala Sitharam announced a rooftop solar panel scheme for 1 crore houses up which will offer 300 units for free under Pradhan Mantri Suryodaya Yojana. This scheme will help users…

On February 4, the Confederation of All India Traders (CAIT) released a warning advising traders to transition away from using Paytm for business transactions due to recent restrictions imposed by the Reserve Bank of India (RBI) on Paytm’s wallet and banking operations. “The Reserve Bank of India has imposed certain restrictions, prompting CAIT to recommend that users take proactive measures to protect their funds and ensure uninterrupted financial transactions. Large number of small traders, vendors, hawkers and women are making payments through Paytm and as such RBI restrictions on Paytm could lead financial disruption to these people,” the Confederation of…

Billionaire Mukesh Ambani has secured the top position among all Indians and the second spot globally in the Brand Guardianship Index 2024, as per the rankings compiled by Brand Finance. Ambani, the chairman and managing director of Reliance Industries Ltd, has surpassed notable figures such as Microsoft’s Satya Nadella and Google’s Sundar Pichai, placing second globally behind Tencent’s Huateng Ma. The Brand Guardianship Index recognizes CEOs who contribute to building sustainable business value by effectively addressing the needs of stakeholders including employees, investors, and society at large. N Chandrasekaran, chairman of Tata Sons, climbed to the fifth position from eighth…

Nokia, the Finnish telecom equipment manufacturer, announced on Monday that it has entered into a multi-year 5G patent license agreement with Chinese smartphone vendor Vivo. Net sales from this deal will be recognized starting in the first quarter of 2024. According to Nokia, this agreement resolves all ongoing patent litigation between the two companies across various jurisdictions. The specific terms of the agreement remain confidential, as mutually agreed upon. This marks Nokia’s sixth major smartphone licensing agreement in the past 13 months, following deals with Apple, Samsung, OPPO, Honor, and Huawei. The company stated that it has nearly completed its…

The Kerala Budget for the fiscal year 2024-25 was presented by Finance Minister Shri. K. N. Balagopal on February 5, 2024. The budget, formulated amidst challenges and financial constraints, outlines a comprehensive strategy to foster economic growth, promote innovation, and address various sectors crucial to the state’s development. Revenue and Expenditure The budget, aiming to strike a balance between revenue and expenditure, envisions a revenue of ₹138,655.16 crore against an expenditure of ₹166,501.21 crore, reflecting a fiscal deficit. The Finance Minister underscored the state’s commitment to cooperative federalism and criticised the Central government for withholding rightful benefits. Fiscal Measures Several…

YouGov’s 2024 Hotel Advocacy Rankings for the UAE reveal the country’s top-rated hotels, with the iconic Burj Al Arab leading the pack with an impressive score of 76.5, making it the most recommended hotel in the UAE. Following closely behind are Emirates Palace with a score of 75.2, Atlantis the Palm Dubai at 72.6, and the Ritz-Carlton at 70.0. Jumeirah and Anantara secure the fifth and sixth positions, respectively, with scores of 68.6 and 68.2, demonstrating strong customer advocacy. Other notable mentions include Hilton (66.9), Shangri-La (65.4), Waldorf Astoria (65.4), and Marriott (65.2). Meanwhile, YouGov’s Airline Advocacy Rankings highlight Emirates…

Exciting changes are underway in the United Arab Emirates (UAE) for investors eyeing the Golden Visa program, with significant modifications to eligibility requirements aiming to boost real estate investments in Dubai. The UAE government has announced a groundbreaking shift in the Golden Visa program by removing the previous AED1 million ($272,000) minimum down payment requirement for real estate investments. This move is expected to revolutionize the landscape for property investors seeking long-term residency in the UAE. Soliman Hossameldin, Director of Digital Marketing at D&B Properties, reportedly hailed the UAE’s decision as a “game-changer” for investors, emphasizing the newfound inclusivity and…

Unified Payments Interface (UPI), India’s indigenous payment system, has emerged as a frontrunner in the realm of digital payments since its inception in 2016. The exponential growth in UPI transactions reflects its widespread adoption not only in urban areas but also in semi-urban and rural regions, gradually replacing conventional cash transactions. This shift is exemplified by the remarkable surge in UPI transactions, skyrocketing from a modest 1.8 crore in FY 2016-17 to an astounding 8,375 crore in FY 2022-23. Recent data from fintech company PayNearby underscores the strong adoption of UPI across semi-urban and rural stores, with transactions growing by…

Amidst financial challenges, Byju’s, a leading edtech company, has seen its senior leadership stand firmly behind CEO and founder Byju Raveendran. In a united front, the entire leadership team, including India head Arjun Mohan and CFO Nitin Golani, expressed unwavering confidence in Raveendran’s leadership. “Certain investors, seeing the crisis we faced, saw it as an opportunity to conspire and demand the stepping down of our founder as the group CEO of Byju’s,” the company told employees in the note. “We are pained to see this action from a few of the investors who should have supported us in our fight…