Here is a collection of the most important stories this evening:
Go First unlikely to restart operations for a month
Cash-strapped Go First is unlikely to restart operations within a month as the Directorate General of Civil Aviation (DGCA) on May 25 granted 30 days to the airline to submit a restructuring or revival plan, including fleet, pilots, and maintenance plans. The order came after Go First submitted their response to DGCA's show cause notice issued on May 8. More here
Sun Pharma Preview: Strong specialty biz, robust domestic sales to boost company’s health in Q4
Sun Pharmaceutical Industries is likely to post strong growth numbers for the quarter ended March 2023, largely driven by its specialty business, and robust sales in the domestic market. Some contribution from the sales of the generic of Revlimid, a drug used to treat multiple myeloma, in the US market will also aid growth. More here
No comment on RBI policy, but see US Fed pausing in June: CEA Nageswaran
The US Federal Reserve may not increase interest rates again in its meeting in June, Chief Economic Adviser V Anantha Nageswaran has said. "I think they (US Fed) have given the indication that they would be on pause in June," Nageswaran said on May 25 at the CII Annual Session in New Delhi. More here
India took 60 years to become a trillion-dollar economy, but can reach next trillion in the next 2 years: WEF chief
India took 60 years to become a trillion-dollar economy but it may reach the next trillion in the next two years, President of the World Economic Forum, Borge Brende has said. The goal of reaching a trillion-dollar economy has ridden on the back of India's digitisation, which is a success story for the world, Borge added. He was speaking at a CII session in New Delhi on May 25. More here
NCLT defers hearing of insolvency plea against SpiceJet to June 1
The National Company Law Tribunal (NCLT) on May 25 deferred to June 1, an insolvency plea by aircraft lessor Aircastle against SpiceJet. The tribunal had on May 17 asked the Gurugram-based airline to file a response to the lessor’s insolvency plea and explore options for settlement. Aircastle confirmed that settlement talks with SpiceJet had not been fruitful and the airline's offer was not good enough. More here
CBDT notifies 21 nations from where investment in startups will be exempt from angel tax
The Finance Ministry has notified 21 countries, including the US, UK, and France, from where non-resident investment in unlisted Indian startups will not attract angel tax. The list, however, excludes investment from countries like Singapore, Netherlands, and Mauritius. The list, however, excludes investment from countries like Singapore, Netherlands, and Mauritius. More here
What is 'Disease X'? Scientists ring warning bells for a deadlier pandemic
In a world plagued by various infectious diseases, the World Health Organization (WHO) maintains a list of "priority diseases" that pose a significant risk of causing the next deadly pandemic. Familiar names like Ebola, SARS, and Zika have secured their place on this register, but there is one entry that stands out with an ominous moniker—Disease X. The term Disease X serves as a placeholder for an unknown pathogen that has yet to be identified by medical science as a cause of human infections. More here
