- Saturday, March 01, 2025
By: Shubham Ghosh
Here are news in brief related to Indian economy and business for Thursday, April 27, 2023:
Indian billionaire tycoon Gautam Adani’s group is looking to raise $1-1.5 billion (£800.9-921.1 billon) for financing new green energy projects in the conglomerate’s biggest borrowing since the group came under attack from a US short seller in January, PTI reported. The group recently held a roadshow in Singapore, followed by another two-day roadshow in Hong Kong, talking to global financial institutions for the fundraising, sources with knowledge of the development said. The Singapore meeting was held with the help of 12 global banks like BNP Paribas, DBS Bank, Standard Chartered Bank, Deutsche Bank, ING, Mitsubishi UFJ Financial Group and Mizhuo, they said.
Budget airline SpiceJet on Thursday announced the appointment of Arun Kashyap as its chief operating officer with effect from June 12, ANI reported. Kashyap will report to Ajay Singh, chairman and managing director, SpiceJet, in his new role. Kashyap is an accomplished industry veteran with 25 years of experience and joins SpiceJet from Air India where he is the chief technical officer. This is his second stint at SpiceJet, having previously served as chief programme and transformation officer at the airline. He has previously also worked with flydubai, Jet Airways and Oman Air.
India’s income-tax department has recovered cash and jewellery worth about Rs 16 crore after it conducted searches at around 60 premises across the country as part of its probe into alleged tax evasion by Gallantt group based in the northern state of Uttar Pradesh, official sources said Thursday, PTI reported. The company manufactures TMT steel bars. The raids were launched on Wednesday at various locations in Uttar Pradesh, Delhi, Gujarat, West Bengal and Bihar and apart from the company promoters and officials, the locations of hawala operatives, also known as entry operators, and others were also searched, they said.
Building on its robust presence in India, Lufthansa on Thursday announced the introduction of two new routes – Munich to Bengaluru and Frankfurt to Hyderabad, ANI reported. The new flights on the Munich-Bangalore route will be operational three times a week, with the first flight scheduled on November 3, 2023. The flights from Frankfurt-Hyderabad will commence operations in the coming winter and both these flights represent the first new routes in Asia Pacific for the Group.
Jammu & Kashmir’s lieutenant governor Manoj Sinha on Thursday said he expected more than two crore (20 million) tourists to visit the Union Terriitory this year, breaking the all-time record for arrival of tourists in the UT set last year, PTI reported. “More than 300 film shoots were done here last year and this year, we will break that record as well. Our problem is that we compete against our own records. Last year 1.88 crore tourists visited Jammu and Kashmir and I expected more than two crore tourists to visit this year. We will establish new records and break them,” Sinha told reporters on the sidelines of a function in Srinagar, the UT’s summer capital.
