Top headlines: Punit Goenka moves NCLAT for relief, 1 year of Ukraine war

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Biden picks Ajay Banga as US nominee for World Bank president

US President Joe Biden on Thursday nominated Indian-American business executive Ajay Banga to become president of the World Bank, lauding his experience forging public-private partnerships to address financial inclusion and climate change. Read more

Half of Indian firms may offer double-digit salary hikes in 2023

India Inc will continue to record double-digit salary hikes, with pay expected to increase 10.3 per cent in 2023.

According to global professional services company Aon Hewitt Global’s latest Salary Increase Survey, while the numbers show a marginal dip from the actual increase of 10.6 per cent in 2022, India is the only major economy where the projected increase continues to be in double digits, notwithstanding concern about economic volatility. Read more
 

El Nino risk for inflation, farm output in India: Finance ministry

The finance ministry on Thursday raised concerns over the possible impact of El Niño conditions on India this year, saying if recent forecasts came true, the country could see lower agricultural output and higher inflation. Read more

1 year of Ukraine war: Cheaper crude from Russia pushes India's import bill

In a year since Russia invaded Ukraine, Moscow has leapfrogged to become India’s fifth largest trade partner from 25th spot in FY22. Trade between India and the sanctions-hit Russia touched $35 billion during the April-December period. In contrast, the size of the trade was almost a fourth, at $9.1 billion, the data showed. Read more

Zee Entertainment insolvency: CEO Punit Goenka moves NCLAT for relief

A day after the Mumbai Bench of the National Company Law Tribunal (NCLT) admitted Zee Entertainment Enterprises (Zee) for insolvency resolution, the company’s managing director and chief executive officer, Punit Goenka, moved the National Company Law Appellate Tribunal (NCLAT) on Thursday, seeking relief against the order. Read more