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Jet Airways conducts first set of three proving flights

Jet Airways on Sunday conducted the first set of three proving flights with 18 people, including officials of the aviation regulator DGCA, on board the aircraft, sources said. The second set of two proving flights will be operated by Jet Airways on Tuesday, they said. Proving flights is the last step for the airline to obtain the air operator certificate (AOC).

Paytm lending business records annualised run-rate of Rs 20,000 cr in April

One97 Communications said that Paytm’s lending business has recorded an annualized run-rate of Rs 20,000 crore of disbursement through its platform, and its device deployment crossed the 3 million mark.

The company in a regulatory filing updated it business performance for the month of April and said that its starting the fiscal on a strong base. Its lending business saw a total disbursal of 2.6 million loans during the month (y-o-y growth of 449%). This aggregates to a total loan value of Rs 1,657 crore ($221 million) during the quarter (y-o-y growth of 749%).

Adani group wins race to buy Ambuja Cements, ACC for $10.5 bn from Holcim

Billionaire  Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd’s entire stake in two of India’s leading cement companies -- Ambuja Cements and ACC -- the Adani group said in a statement.

Amazon created more than 1.16 mn jobs, digitised 4 mn

MSMEs in India E-commerce firm Amazon on Sunday said that it has cumulatively created more than1.16 million direct and indirect jobs, enabled nearly $5 billion in cumulative exports, and digitised over 4 million micro, small and medium enterprises (MSMEs) in India till date. In January 2020, at the first edition of its annual event Amazon Smbhav, the company had pledged to digitise 10 million MSMEs, enable $10 billion in cumulative exports and create 2 million jobs in India by 2025. Amazon is well on track to fulfil these pledges, while in fact doubling its export pledge from India, to now enable $20 billion in cumulative exports from India by 2025, the company said.

Airtel to set up digital tech hub in Pune, hire 500 people by FY23 end

Bharti Airtel is planning to set-up a new technology centre in Pune to support digital services in the Western region and will be hiring around 500 digital engineering professionals by the end of the current fiscal, a senior company official said. This will be Airtel's fourth digital technology hub in India and first in the Western region to support its strategy to pivot to a digital services company, especially as 5G services are on the horizon.

Godrej Properties adds 7 projects with expected sale value of Rs 9,500 cr

Realty firm Godrej Properties Ltd has added seven housing projects since April 2021, for future development with sales potential of over Rs 9,500 crore and aims to expand its portfolio in a big way this fiscal. Mumbaibased Godrej Properties purchases land outright as well as forms partnerships with land owners for future development.

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