IndiGo promoter Rakesh Gangwal resigned from the Board of Directors of InterGlobe Aviation as a non-executive, non-independent director on Friday. Coming to Mumbai, union railway minister Ashwini Vaishnaw travelled by a local train between Thane and Diva stations on the Mumbai suburban rail network and ate ‘vada pav’, a popular snack, at a roadside eatery during his visit. In the markets, equity indices surrendered mid-session gains to close lower for the third day in a row on Friday as participants remained cautious amid geopolitical uncertainties in eastern Europe. Here are some more top news of the day.

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BUSINESS/ECONOMY

InterGlobe's Rakesh Gangwal resigns from board, keeps option of returning open

IndiGo's co-promoter Rakesh Gangwal on Friday resigned from the board of directors of parent company InterGlobe Aviation, stating that he will gradually reduce the equity stake in the airline over the next five years. Gangwal and his related entities own around 37 percent stake in this company. Read more

Vedanta to invest up to $20 bn in semiconductor biz in India, roll out by 2025

Indian conglomerate Vedanta has earmarked $15 billion for a foray into the electronic chip and display manufacturing space, and plans to scale up the investment to as much as $20 billion, a senior company official said. Read more

Air India warns flyers against 'free tickets' newspaper ad

Air India has issued an official statement warning people about a print advertisement put out by Builder.ai in leading newspapers. The ad has a QR code and links to an app that claims to offer free Air India flight tickets. Read more

MARKETS

Sensex, Nifty50 fall for 2nd week dragged by financial, metal stocks; Nifty Bank's worst week in 2 months

Indian equity benchmarks finished a volatile week with cuts of around half a percent, dragged by financial and metal stocks, amid geopolitical tensions, sustained FII outflows and concerns about faster rate hikes. News flow on the Ukraine-Russia conflict kept investors on edge globally. Read more

Paytm, Fino Payments, CarTrade hit fresh lows, Zomato slips 3%; why new-age stocks are down

Shares of new-age companies traded lower on Friday with Paytm, Fino Payments, and CarTrade hitting fresh lows amid an overall negative trend in the market. Other 2021 debutants including, Zomato, PB Fintech and Nykaa were also in the red. Read more

A look at D-Street's biggest wealth destroyers of 2022 so far

Indian equity benchmarks gave up their entire year-to-date gains within the first 45 days of 2022. Concerns about rising interest rates amid worsening consumer inflation, wild swings in oil prices, FII outflows and geopolitical tensions have kept investors on edge. However, an infrastructure focus in the Union Budget and a dovish RBI have aided investor sentiment. Read more

INDIA

India's air passenger traffic down 43% MoM in January: DGCA

Air passenger traffic in the country stood at 64.08 lakh in January, down 17 percent on a year-on-year basis, data from aviation regulator Directorate General of Civil Aviation (DGCA) showed. The air passenger traffic was down 43 percent compared with December 2021. Read more

Railway minister travels in Mumbai local train, tastes 'vada pav' outside station

Railway Minister Ashwini Vaishnaw on Friday travelled by a local train between Thane and Diva stations on the Mumbai suburban rail network for inspection of two additional railway lines, and ate 'vada pav', a popular snack, at a roadside eatery during his visit, officials said. Read more

India's GDP likely to grow at 5.8% in Oct-Dec: SBI report

The country's gross domestic product (GDP) is likely to grow at 5.8 percent in the third quarter of fiscal 2022, according to an SBI's research report- Ecowrap, released on Friday. The country's economy expanded by 8.4 percent in the second quarter of 2021-22, to cross pre-pandemic levels. Read more

WORLD

Belgium latest to opt for 4-day workweek; here are other countries trying it out

Belgium has joined a host of other countries that are offering employees a four-day workweek as part of its changes in labour laws in a post-COVID era. Read more

This UK-based YouTuber claims he was the world’s richest, but only for 7 minutes

UK-based YouTuber Max Fosh claimed he had become the world’s richest person, dethroning tech billionaire Elon Musk, albeit for a period of seven minutes. Fosh’s net worth became nearly twice as much as that of the Tesla founder during that period, he said. Read more

Ship carrying hundreds of Porsches and Bentleys catches fire near Azores, off Portugal coast

A ship carrying Porsches, Audis and Bentleys from Germany to the United States has caught fire near the coast of Portugal's Azores islands in the Atlantic ocean, a spokesperson for carmaker Volkswagen said on Friday. The Panama-flagged ship was travelling from Emden, Germany -- where Volkswagen has a factory -- to Davisville in the United States, based on the Maritime Traffic website. Read more

(Edited by : Jomy Jos Pullokaran)