Amazon will lay off about 500 employees in India across its businesses including Amazon Web Services (AWS) and more. The job cuts will also affect human resources and support functions, according to multiple media reports. The ongoing process of layoffs is part of Amazon’s previously announced 9,000 job cuts. In the first phase, the company […]
India’s cargo airline Pradhaan Air Express and Teleport, the logistics venture of Capital A (formerly the AirAsia Group) signed a Memorandum of Understanding on the sidelines of air cargo Europe/transport logistic trade fair in Munich, Germany. With the capacity sharing agreement, Teleport intends to use the capacity on the world’s first A320 converted freighter operated […]
Amazon India will soon increase seller fees for various essential categories, including apparel, beauty products, groceries and medicines. According to a company spokesperson, the revision of seller fees is impacted by different elements, such as changing market dynamics and macroeconomic situations. As part of the recent fee revision, adjustments have been made to the fee […]
DMart retail chain operator Avenue Supermarts share fell by 4.7 per cent on Monday after the company’s basis-point decline in the March quarter operating margins on 13 May 2023. The company’s margin fell from 8.4 per cent in the same period last year to 7.3 per cent this year. Its EBITDA growth also stood relatively […]
Cantabil Retail India on Monday reported net profit of Rs.16.88 crore for the fourth quarter ended on 31 March 2023, according to the company’s regulatory filing. The company’s revenue from operation increased to Rs.172.84 crore in the quarter gone by, compared to Rs 133 crore the previous year in the same quarter. Cantabil Retail has […]
Kalyan Jewelers India on Monday reported a rise of 30 per cent year-on-year (YoY) in its fourth quarter’s revenue at Rs 14,071 crore, against Rs 10,818 crore in the previous year in the same quarter. The combined PAT was Rs 432 crore for FY23 which is a one-time exceptional pre-tax write-off of ~33 crore relating […]
Last week, South Korea’s Hyundai Motor Co announced that it will invest 200 billion rupees (USD 2.45 billion) in Tamil Naidu over the next 10 years to bolster its electric vehicle (EV) production in India. SNE Research which provides global market research and consulting to the rechargeable batteries industry ranked Hyundai as the top sixth […]
Tata Group will be Apple’s fourth iPhone contract manufacturer in India after the acquisition of Wistron Corp’s factory in Bengaluru, according to a TrendForce report. The assembly orders by the cars-to-software conglomerate for various iPhone models is expected to be 5 per cent of total units in 2023. The company has reportedly received orders for […]
Westlife Foodworld (formerly Westlife Development) has designated Amit Jatia as the new chairperson of the company. Jatia previously served as the Vice Chairman of Westlife Foodworld. Following the new role of Jatia, now Smita Jatia will be taking over as Vice Chairperson of the company. Amit, widely regarded as the country’s pioneer of the QSR […]
United Kingdom‐based SRAM & MRAM Group will invest USD 100 million in SpiceXpress and Logistics. Both sides have signed an MoU as part of the investment deal, SpiceJet said in an official statement. This move comes after SpiceJet successfully separated SpiceXpress into an independent entity as of 1 April 2023, paving the way for the […]
