business news

Mumbai's Chhatrapati Shivaji Maharaj International Airport (CSMIA) has taken a significant step forward in enhancing passenger processing by expanding its terminal entry points (eGates) from 24 to 68, making it the airport with the highest number of such eGates at the kerbside/landside in India. This development, announced on Tuesday, aims to triple the airport's processing capacity and drastically reduce waiting times to less than one minute at the kerbside.

Elon Musk, the CEO of SpaceX and Tesla, took a playful yet pointed jab at Apple recently by sharing a popular Indian meme on social media. This move comes in the midst of Apple's announcement of its collaboration with OpenAI during its Worldwide Developer Conference 2024.

India is set to remain the world's fastest-growing major economy, with a projected steady growth rate of 6.7% over the next three years, according to the World Bank's latest Global Economic Prospects report released on Tuesday.

Kissflow, a Chennai-based Software-as-a-Service (SaaS) firm specializing in cloud-based work management products, has recently undertaken a workforce reduction, resulting in the layoff of approximately 15% of its employees. This decision comes in the wake of product realignment and routine performance evaluations.

Sundar Pichai, the CEO of Google, recently reflected on his humble beginnings and the significant sacrifices his family made to support his education. Pichai shared that his father, an electrical engineer, spent the equivalent of a year's salary on his plane ticket to the United States, enabling him to attend Stanford University. "My father spent the equivalent of a year's salary on my plane ticket to the US so I could attend Stanford. It was my first time ever on a plane," Pichai recalled.

Paytm's parent company, One97 Communications Limited (OCL), has announced layoffs as part of its ongoing restructuring efforts. In a recent statement, the company confirmed that it is providing outplacement support to affected employees to ensure a smooth transition. The company's human resource teams are actively collaborating with over 30 companies currently hiring, facilitating immediate outplacement for employees who have chosen to share their information.

In a significant development at Tesla, billionaire Elon Musk may consider leaving the electric car maker if shareholders reject his proposed $56 billion pay package. This warning was issued by Tesla's board chair, Robyn Denholm, who emphasized the unique nature of motivating someone like Musk.

In a recent tweet, Elon Musk expressed his gratitude to Ashok Elluswamy, an Indian-origin engineer and the first person hired for Tesla's autopilot team, for his contribution to Tesla's success in artificial intelligence (AI) and autopilot software.

Adani Ports and Special Economic Zone Limited (APSEZ), India's largest port developer and operator, announced on Friday that it has secured the contract for the operation and maintenance of the container facility at Netaji Subhas Dock at the Syama Prasad Mookerjee Port in Kolkata. The contract, awarded through a competitive bidding process, spans five years and requires the successful bidder to deploy cargo handling equipment within seven months from the letter of acceptance date.

In a significant development for the aviation industry, the National Company Law Tribunal (NCLT) has granted approval for the merger of Air India and Vistara, marking a pivotal step towards the formation of one of the world's largest airline conglomerates. The post-merger entity will witness Singapore Airlines holding a 25.1% stake in Air India, following the announcement of the merger in November 2022.