Business Bulletin Weekly 22 May 2023
Title: Taj Group to Open New Airport Hotel in Delhi
Taj Group, one of India's leading hotel chains, is set to open its first airport hotel in Delhi. The hotel will be located near Terminal 3 and Terminal 2 of the Indira Gandhi International Airport. Taj Group has entered into a franchise agreement with Chalet to operate the hotel, which is expected to open in the next two years.
Title: SGX Nifty to Be Renamed as GIFT Nifty from July 3
Singapore Exchange's (SGX) Nifty derivatives will be renamed GIFT Nifty starting July 3. This change results from the collaboration between NSE IFSC and SGX in GIFT City, a financial hub in Gandhinagar, India. The move aims to enhance trading opportunities and reduce dependency on Chinese markets.
Title: Vodafone Announces Layoffs, 11,000 Jobs to Be Cut
Vodafone has announced laying off 11,000 employees over the next three years. CEO Margherita Della Valle stated that the company needs to transform and become a simpler organization. The layoff is part of an effort to reallocate resources, focus on customer experience, and drive growth.
Title: Elon Musk Criticizes Techies Working from Home
Elon Musk disliked working from home during an interaction with CNBC. Musk criticized tech workers who continue to work remotely while many service workers are required to work in person. He referred to the work-from-home trend as hypocritical and morally wrong, stating that it goes beyond productivity concerns.
Title: Apple Partners with Tata Group for iPhone 15 Manufacturing in India
Apple has signed a new contract with Tata Group to manufacture iPhone 15 and iPhone 15 Plus in India. This move is part of Apple's efforts to reduce dependency on China and diversify its supply chain. Tata Group will become the fourth manufacturing partner for Apple, joining Wistron, Foxconn, and Pegatron.
Title: RBI Announces Withdrawal of Rs 2000 Notes, Opposition Reacts
The Reserve Bank of India (RBI) has announced the withdrawal of the Rs 2000 denomination notes from circulation. This decision has sparked criticism from opposition parties, including Delhi's Chief Minister Arvind Kejriwal. The move is seen as a reversal of the demonetization policy introduced in 2016. The RBI has set a deadline of September 30 for exchanging the old Rs 2000 notes.