Author: News Desk

LaundryMate factory is set in the small Bengaluru village of Alahari Guddahari. LaundryMate is one of India’s first organized, tech-driven online laundry service companies. The company has the nation’s largest laundry facility, spanning 53,000 square feet (the size of a football field). It offers the customers to log into the company app and watch clothes being washed live using the cameras installed there. The facility has a capacity of cleaning approximately 45,000 garments per day. Abhinay Choudhari, co-founder of online grocery company BigBasket, launched LaundryMate service as his next venture to solve the home laundry problem. His goal is to…

Britain dropped behind India to become the world’s sixth largest economy. The calculation is based in US dollars India extended its lead in the first quarter, according to GDP figures from the International Monetary Fund. By contrast, the Indian economy is forecast to grow more than 7 per cent this year. The former British colony leaped past the UK in the final three months of 2021. To become the fifth-biggest economy.

SpiceJet’s net loss widens to Rs 789 crore. High fuel prices and rupee depreciation have affected SpiceJet. DGCA deregistered two more Boeing 737 planes of SpiceJet. It is due to the non-payment of dues to lessors. SpiceJet has also delayed the payment of salaries to staff. Meanwhile, SpiceJet plans to raise $200 mn. It is to spend for moulding its cargo business into a separate company.

Cyrus Mistry, the Indian-born Irish businessman and the former chairman of the Tata Group, passed away in a road accident on September 4, 2022. The accident occurred in Maharashtra’s Palghar district. He is survived by his wife Rohiqa Chagla and two sons.  A preliminary police investigation found that Cyrus Mistry and Jahangir Pandor were in the back seat of the vehicle and were not wearing seat belts. Police said speeding and error of judgment by the driver were the causes of the accident. Both Mistry and Jahangir died in the accident, but the two front occupants who were wearing seat…

Reliance Retail’s activewear brand, Performax, signed cricketer and top Indian bowler Jasprit Bumrah as its brand ambassador. Reliance aims to expand the presence of Performax through Reliance Retail’s fashion and lifestyle stores and digital platforms, as well as multi-brand stores. Performax, Reliance Retail’s own brand, specializes in athletic apparel and offers a wide range of options across footwear, apparel and accessory categories. The brand is now sold in over 1,000 of his stores in over 330 cities.

Tata Sky, the satellite TV business of the Tata Group, which was renamed Tata Play Ltd earlier this year, plans to file a draft IPO prospectus  by the end of this month and expects it to be in the range of at least $300 million to $400 million. The planned IPO will see investors Temasek and Tata Capital sell a portion of their stake in the company, which the company also plans to raise  for its use.

Ford Motor Co announced that it will recall 198,000 SUVs in the United States to replace blower motor assemblies after 25 fires were reported. This recall applies to 2015-2017 Ford Expedition and Lincoln Navigator vehicles. Ford said it had three reports of fires related to property damage to structures and one report of minor injuries. Ford will notify owners from September 12th.

Bollywood’s nationwide box office collection in the first eight months of 2022 has crossed Rs 2,299 crore. It was Rs 917 crore and Rs 717 crore in 2021 and 2020 respectively. Although Bollywoodis recovering from the pandemic years, it is still distant from the 2019 collection of Rs 5,200 crore, says the data provided by the State Bank of India in its August Ecowrap. Bollywood is losing out to South Indian cinema. What are the reasons? According to the data, the key reasons behind the fall include poor content, a decline in single-screen theatres, heavy entertainment tax on Hindi movies and the rise of OTT platforms. In terms…

India to introduce additional safety norms for EV batteries. It would come into effect from October 1, 2022. The road transport ministry had constituted an expert committee for the same. The committee was chaired by Tata Narsingh Rao, Director, ARCI. On August 29, 2022, the ministry issued amendments for EV. The amendments touch upon different aspects. Such as battery cells, battery management systems, and battery pack design. Recent fire incidents encouraged the ministry to renew safety norms.

India’s indigenous aircraft carrier INS VIKRANT has strengthened the force and increased the pride for the country Built at a cost of Rs 20,000 crore, the ship is the largest ever aircraft carrier built in the country’s history. 262 meters long and 62 meters wide, Vikrant is the country’s second aircraft carrier after INS Vikramaditya. India now joins the list of countries like US, UK, Russia and China to indigenously design and build aircraft carriers. INS Vikrant is built with 76 percent Indian-made materials The 18-storied, 42,800-tonne Vikrant can carry 10 helicopters and 20 fighter jets. Equipped with advanced automation…