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Apple to soon overtake Samsung as India's top smartphone exporter: Report

The exports of Apple smartphones from India may surpass that of Samsung by the end of the current fiscal and are expected to surpass the South Korean giant's in FY24. From a minuscule share in India's phone exports a year ago, Apple's share has risen to $2.2 billion during April and October. Samsung's share stood at $2.8 billion, not far ahead, a report by Financial Express (FE) said.

Between April and October, the total smartphone exports in India stood at $5 billion, up 127 per cent from $2.2 billion during the same period in FY22. Both companies produce smartphones in India under the Production-linked Incentives (PLI) scheme.

Shriram Finance becomes the largest retail NBFC in India

Shriram Transport Finance Company, the largest financier of commercial vehicles, and Shriram City Union Finance, the largest two-wheeler financer and leader in micro, small and medium enterprise (MSME) lending, have been merged to form Shriram Finance. Umesh Revankar will serve as Executive Vice Chairman of the merged entity, the company said in a release.

“With the balance sheet strengthened through the merger, we can serve the needs of the market better than ever before,” Revankar said.

Amazon may lay off up to 20,000 employees to streamline costs: Report

Following a hiring spree during the pandemic, Amazon may now lay off 20,000 employees in the coming months across various departments. Employees from all the rankings in the company, from Grades 1 to 7, are expected to be affected by the layoffs, a report by Computerworld said.

In November, the New York Times (NYT) reported that Amazon may lay off up to 10,000 employees. In the last few days, the company has reportedly asked the managers to identify employee performance problems. 20,000 employees would amount to nearly 1.3 per cent of Amazon's total workforce of 1.5 million globally. This includes non-permanent workers too.

Air India leases 12 more planes to expand international flight operations

Tata Group-owned Air India on Monday said it has leased 12 more planes-- six narrow body A320neo and six wide body B777300ER--to expand its international flight operations.

This is in addition to 30 planes—21 narrow body A320neo, four narrow body A321neo and five wide body B777-200LR—the carrier leased in September this year. The 30 planes leased in September are expected to be inducted in the airline's fleet by 2023-end and the other 12 by June 2023.

Go First, EaseMyTrip sign exclusive GSA to expand sales in Saudi Arabia

Go First on December 5 announced 5 that it has signed an exclusive General Sales Agreement (GSA) online tech travel platform, EaseMyTrip, to sell and promote tickets and other services to passengers in Saudi Arabia, effective from this month.

Under the GSA, EaseMyTrip will open an independent branded office representing Go First in the Saudi Arabian cities of Dammam and Riyadh, effectively extending the airline's operations and with an aim to establish a commercial grip within West Asia and the other larger travel markets.

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