Here is a collection of the most important stories this evening:
Zomato begins layoffs across functions; plans to shrink workforce by 4%
Zomato has started laying off employees this week, sources told Moneycontrol, as the food delivery platform looks to cut costs and turn profitable, in an increasingly challenging macro environment. People familiar with the matter said at least 100 employees have been already impacted across functions such as product, tech, catalog, and marketing, though people in the supply chain haven't been impacted. The company plans to layoff at least 4 percent of its total workforce.
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Air India in talks with Airbus, Boeing to buy planes, says CEO
Tata Group-owned Air India is in talks with Boeing and Airbus about ordering new aircraft and is meeting its immediate needs by leasing planes and repairing grounded aircraft, the airline's chief executive said on Saturday.
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Research must strengthen its consultative approach to collecting data directly from stakeholders: RBI Governor
RBI Governor Shaktikanta Das said on November 19 that its research department must strengthen its consultative approach to collecting first-hand information directly from stakeholders. This is because there is increasing use of big data and data generated by private sources for policy research.
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Saurabh Mukherjea sees investment in stronger companies as key to wealth creation
Saurabh Mukherjea, Founder and Chief Investment Officer of Marcellus Investment Managers, shared his views on the key to creating wealth in Indian equities. Speaking at PMSBazaar's Alternative Investment Summit on Friday, the financial market veteran said that with consolidation in the economy, a strong company will get stronger in every sector, and he believes that wealth creation in India over a long period of time will come from these strong companies.
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The World Cup ate my egg: Rising demand from the Gulf cheers Indian poultry farmers
The FIFA World Cup 2022 in Qatar has given a fillip to egg exports from the country as the Gulf nations have increasingly turned to India to bridge the widening gap between supply and demand. Ukraine and Turkey are the major egg exporters to the Gulf countries, while India is a minor player. Since the start of the war with Russia, the supply from Ukraine has dwindled, presenting India with an opportunity to fill the gap.
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NITES writes to Labour Minister over Amazon layoffs, alleges violation of labour laws
Employees at Amazon in India are being forced to quit the company, alleged employee union Nascent Information Technology Employees Senate (NITES) in a letter to Union Labour Minister Bhupender Yadav. NITES has sought an inquiry into the matter.
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Centre to spend Rs 50,000 crore on infrastructure development of Arunachal: PM Modi
Prime Minister Narendra Modi on Saturday said that the central government is going to spend Rs 50,000 crore in near future for the infrastructural development of Arunachal Pradesh. The Prime Minister, who inaugurated the Donyi Polo Airport at Hollangi near here and dedicated the 600 MW Kameng Hydro Power Station to the nation, underlined the natural beauty of Arunachal Pradesh and said that the state has great potential for tourism.
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