business news

The global wine industry is facing an unprecedented crisis as farmers worldwide are forced to destroy vineyards due to an oversupply of wine and plummeting demand. From Australia to Spain, and even renowned regions like Bordeaux, the wine industry is grappling with a fundamental shift in consumer preferences and economic challenges.

In commemoration of International Women's Day, the Air India group has rolled out a series of initiatives to celebrate and empower women within its ranks. The airline announced that a total of 15 all-women crew flights were operated across domestic and international routes on the occasion.

Indian Filter Coffee has secured an impressive position as the second-best coffee globally, according to a recent announcement by TasteAtlas, a renowned food and travel guide platform. The esteemed list, titled 'Top 38 Coffees In The World,' places Indian Filter Coffee in the spotlight, celebrating its rich flavor and unique brewing method.

In a significant move reflecting Southeast Asia's telecom landscape, Singapore Telecommunications (SingTel) announced the sale of a 0.8% stake in Bharti Airtel to U.S.-based investment firm GQG Partners for ₹5,850 crore. This transaction marks the latest in a series of efforts by Southeast Asia's largest telecom operator to streamline its capital, with total capital recycling reaching S$8 billion since its strategic reset in 2021.

In a significant move indicative of cross-sector investment dynamics, Rakesh Gangwal, the prominent figure behind India's leading airline, Indigo Airlines, has injected ₹165 crore into Zetwerk, a burgeoning unicorn startup. Zetwerk, celebrated for its prowess in the manufacturing sector, disclosed this strategic investment on Thursday, marking the final leg of its ongoing funding round. The infusion from Gangwal has stamped the company with a formidable valuation of ₹23,157 crore, highlighting the confidence of investors in its trajectory.

In response to recent regulatory constraints imposed by the Reserve Bank of India (RBI) on IIFL Finance, shareholder Fairfax India has stepped in to provide significant liquidity support. The move comes shortly after the RBI barred IIFL Finance from disbursing gold loans, citing supervisory concerns.

In a significant development for the aviation industry, the Directorate General of Civil Aviation (DGCA) has awarded the Air Operator's Certificate (AOC) to the newly established airline, Fly91. Co-founded by Manoj Chako, a former senior executive of Kingfisher Airlines, the airline, operating under the brand name FLY91, is poised to make its mark in the Indian aviation sector.

Vijay Shekhar Sharma, the founder of Paytm, India's leading digital payment platform, has made his first public statements since the Reserve Bank of India (RBI) took action against Paytm Payments Bank. Speaking at a financial technology conference in Tokyo, Sharma expressed confidence in overcoming regulatory setbacks and staging a comeback.

In a dramatic turn of events, William C. Morton, founder of a small Florida hedge fund, is facing potential jail time for his alleged role in the disappearance of $533 million connected to Indian tech firm Think & Learn Pvt, now famously known as Byju's.

India's economic outlook for 2024 has received a positive boost, with a Moody's report forecasting a notable increase in GDP growth from 6.1% to 6.8%. The report highlights the country's robust economic performance, particularly in the wake of strong data recorded in the December 2023 quarter.