Author: News Desk

Sridhar Vembu has shared memories of studying at IIT Madras alongside Raju Narayana Swamy, highlighting his academic brilliance and later career in public service. Vembu’s remarks came in response to a viral post on social media platform X discussing Swamy’s UPSC journey and anti-corruption work. IIT Days and Academic Excellence Vembu recalled that Swamy was a top-performing student at IIT Madras, securing a very high rank in IIT JEE 1985 and standing out among peers, many of whom came from larger cities. Both studied computer science at IIT Madras. According to Vembu, most classmates eventually moved abroad for higher studies…

Air India is considering a significant reduction in flight operations as it faces mounting cost and efficiency pressures across its network. The planned adjustment is being framed internally as a network optimisation exercise rather than a step back from expansion plans. Possible Scale of Cuts At the individual airline level, flight reductions could range between 15% and 20%. For the broader group, including Air India Express, the cuts are expected to be more moderate, between 10% and 15%. The airline is reportedly identifying specific routes where reducing frequencies or adjusting schedules could improve cost efficiency while maintaining overall connectivity. International…

Meta Platforms Inc. and Microsoft Corp. are preparing significant workforce reductions and buyout programs that could impact up to 23,000 employees, as both companies step up cost control efforts while increasing investment in artificial intelligence. Meta Plans 10% Job Cuts Meta has informed employees through an internal memo that it plans to reduce its workforce by about 10%, affecting roughly 8,000 employees starting May 20. In addition, the company will not fill around 6,000 currently open positions, further tightening headcount. The move comes as Meta continues to scale up spending on AI infrastructure, including large capital investments and partnerships. The…

DP World’s International Container Transshipment Terminal at Vallarpadam in Cochin recorded a significant decline in transshipment volumes during FY 2025–26, as competition intensified from Kerala’s emerging deepwater port ecosystem. The terminal handled a total of 767,948 TEU during the year. However, its core transshipment activity nearly halved, falling to 85,912 TEU from 169,562 TEU in the previous fiscal. This reduced transshipment’s share of overall throughput to around 11%, indicating a clear shift in cargo flows. Overall throughput also declined compared to the previous year’s 834,665 TEU, reflecting broader pressure on the terminal’s traditional role as a transshipment hub. Changing Cargo…

Kerala State Cooperative Bank, Asia’s largest cooperative bank, delivered a strong performance in FY 2025–26, strengthening its position in India’s cooperative banking sector. The bank’s total business rose to Rs 1,28,700 crore, marking a 5.9% increase from the previous year. Steady Growth in Deposits and Loans The growth was driven by healthy expansion in both deposits and lending. Deposits increased to Rs 75,500 crore, up 6.69%, reflecting continued trust from customers. Loan outstanding rose 5.44% to Rs 53,249 crore, crossing the Rs 50,000 crore milestone for the first time in the bank’s history. Strong Performance in Gold Loans One of…

South Korea and India are preparing to introduce a QR code-based cross-border payment system later this year, according to Seoul’s top financial regulator. Financial Services Commission (South Korea) Chairman Lee Eog-weon said on social media platform X that the system will allow citizens of both countries to make payments across borders using QR codes, with automatic currency conversion built into the service. The planned system is expected to make cross-border transactions easier and significantly reduce commission fees, improving affordability for users. Lee is currently accompanying South Korean President Lee Jae Myung, who is on an official trip to Vietnam for…

India is close to finalising a major defence agreement worth around $8 billion with Germany, in what is expected to become the country’s largest-ever defence procurement deal. The agreement is likely to be completed within the next 90 days, according to German Defence Minister Boris Pistorius. The deal involves a partnership between Germany’s Thyssenkrupp Marine Systems and India’s Mazagon Dock Shipbuilders Limited to jointly build six advanced submarines in India. The project will follow a technology-transfer model, with significant production knowledge expected to be shared with Indian partners. Focus on Domestic Manufacturing The agreement aligns with India’s broader “Make in…

WhatsApp has started rolling out a new feature in India that allows users to recharge prepaid mobile numbers directly inside the app, marking another step in its push into everyday digital services. The feature is being introduced in phases on Android and iOS and is expected to be available to all users over the coming weeks. It is powered by PayU and supports prepaid recharges for major telecom operators including Reliance Jio, Bharti Airtel, and Vodafone Idea. With this update, users can recharge their own mobile number or send recharges to friends and family without switching to external apps. Multiple…

Adani Energy Solutions Limited (AESL), part of the diversified Adani Group, reported a solid financial and operational performance for FY26, driven by improved execution across its transmission and smart metering businesses. The company posted steady revenue growth, expanded its project pipeline, and strengthened its position in large-scale power infrastructure. Revenue Growth Backed by Execution AESL’s total income for FY26 rose 15.9% year-on-year to an all-time high of Rs 28,325 crore. The growth was supported by stable operations across segments and higher income from Service Concession Arrangement (SCA) assets, reflecting increased capital expenditure deployment. Operational revenue grew at a more measured…

Vedaanta Senior Living, a key player in India’s senior housing segment, has introduced its latest senior living project, Eden Gardens, located in Ettumanoor, Kottayam. The development spans 4 acres and will include 48 premium villas along with around 30 apartments, with starting prices from ₹76 lakh. This launch is part of the company’s broader ₹200 crore investment plan in Kerala over the next three years, aimed at building community-focused senior living spaces. The Eden Gardens project alone accounts for an investment of ₹50 crore. With existing projects in Guruvayur and Kochi, and another upcoming community in Thrissur, the addition of…