Adani Ports Questions Deloitte’s Resignation: Following Deloitte’s decision to step down as the auditor for Adani Ports, the latter has expressed its reservations about the exit. Adani Ports said that the reasons provided by Deloitte for its resignation were not convincing. The development adds another layer to the ongoing corporate saga within the Adani Group that began with the explosive allegations of the Hindenburg report, Reuters reported.
Subway India’s Menu Changes Amid Inflation: As inflation continues to impact various sectors, Subway India has made a notable change to its offerings. The fast-food chain has removed the free cheese slice from its menu, offering sauce as an alternative. This move reflects the broader challenges businesses face in managing costs while maintaining quality, Reuters reported.
India’s Data Regime Not a Burden for Big Tech: In response to concerns, Ashwini Vaishnaw, India’s technology minister, has said that the country’s new data regime won’t increase the burden on big tech companies. The new rules aim to create a scenario where citizens' online data is protected while innovation continues to grow, Vaishnaw told Bloomberg Television.
SpiceJet Defers Q1 Results Announcement: Low-cost carrier SpiceJet has postponed its Q1 results announcement date from August 11 to August 14. Given its recent troubles with cash and grounded planes, the airline’s decision has garnered attention, with stakeholders keenly awaiting further updates.
ONDC’s Growing Merchant Base: The Open Network for Digital Commerce (ONDC) has witnessed a significant surge in its merchant base. Currently, nearly 150,000 merchants have come onboard on ONDC, marking a notable milestone for the platform, the Mint reported. CEO T Koshy said mobility services have been a big growth driver for the platform, the majority of which is autorickshaw bookings in Bengaluru. Pilot tests in "three to four other cities” are also underway, he added.
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