Overview

Govt notice, poor service, tanking stock: Ola Electric skids off the road

Govt notice, poor service, tanking stock: Ola Electric skids off the road

From a show-cause notice from the government to consumers flooding social media platforms over myriad complaints regarding its e-scooters and service centres—while its share continues to slide—there appears no respite for Bhavish Aggarwal-run Ola Electric.

On Tuesday, Ola Electric’s share touched its lowest at Rs 86 apiece before recovering a bit—a massive 43-35 per cent drop from its all-time high of Rs 157.40 a few days earlier. The stock made its public debut at Rs 76 apiece.

In a stock exchange filing, the EV company admitted that it has received a show-cause notice from the Central Consumer Protection Authority (CCPA).

“The Central Consumer Protection Authority has provided a timeline of 15 days to the company to respond to the show cause notice. The company will respond to the CCPA within the given timeframe with the supporting documents,” said the EV company.

Sudan: 7 dead, 59 injured in paramilitary shelling of displaced persons camp

Sudan: 7 dead, 59 injured in paramilitary shelling of displaced persons camp

At least seven people were killed and 59 others wounded in an artillery strike by the paramilitary Rapid Support Forces (RSF) on a displaced persons camp in El Fasher, western Sudan's North Darfur state, a local health official confirmed.

The attack on the Abu Shouk camp spanned two days, with two fatalities on Sunday and five more on Monday, according to Ibrahim Khatir, director-general of North Darfur's health ministry.

Speaking to news agency by phone, Khatir said 20 people were injured in Sunday's bombardment, followed by 39 on Monday.

The Sudanese Doctors Network, a non-governmental organisation, condemned the shelling of civilian areas, stating it has "further worsened the suffering of the displaced and civilians, who are already enduring dire conditions under the siege imposed on the city."

Egypt revives rail service in Sinai, ending 50-year hiatus

Egypt revives rail service in Sinai, ending 50-year hiatus

A 100-kilometre railway in Egypt's North Sinai began trial operations, restoring train service to the region for the first time in more than half a century.

The Al-Fardan-Bir al-Abd line, featuring newly renovated stations, marks the first phase of a broader project aimed at modernising and expanding rail connectivity across the Sinai Peninsula., reports news agency.

The Egyptian Ministry of Transport and Industry announced plans to extend the line to approximately 500 kilometres, linking Al-Fardan to Taba.

"Operating this line will ease the movement of people and goods from Sinai to other governorates, foster the development of new urban communities and industrial zones, and support economic projects in North Sinai," said Egypt's Minister of Transport and Industry, Kamel al-Wazir, at the inauguration ceremony.

No digital labour platform perfect to ensure gig workers’ welfare in India: Report

No digital labour platform perfect to ensure gig workers’ welfare in India: Report

Digital labour platforms in India need to do more to improve the conditions of gig workers as from 11 such leading internet companies, no platform scored more than six out of the maximum of 10 points, and none scored all the first points across the five parameters, including Fair Pay, a report showed on Tuesday.

The report by Bengaluru-based Fairwork India, spearheaded by the Centre for IT and Public Policy (CITAPP), International Institute of Information Technology Bangalore (IIIT-B), in association with Oxford University, assessed the 11 platform against five principles: Fair Pay, Fair Conditions, Fair Contracts, Fair Management, and Fair Representation.

These platforms were Amazon Flex, Bigbasket, BluSmart, Flipkart, Ola, Porter, Swiggy, Uber, Urban Company, Zepto and Zomato.

Jordan evacuates 44 nationals from Lebanon

Jordan evacuates 44 nationals from Lebanon

A group of 44 Jordanians was evacuated from Lebanon aboard a plane from Jordan's military forces.

The evacuation plane, operated by the Jordan Armed Forces-Arab Army, initially arrived at Lebanon's Rafic Hariri International Airport on Monday morning, delivering humanitarian aid, reports.

Upon the plane's arrival at Jordan's Queen Alia International Airport that evening, Jordanian Deputy Prime Minister and Minister of Foreign Affairs and Expatriates Ayman Safadi stated that this group represented the largest number of Jordanians in Lebanon seeking to return home amid escalating regional conflicts.

Sensex trades higher, led by gains in banks

Sensex trades higher, led by gains in banks

India equity indices were trading in the green on Tuesday with gains in shares of UltraTech Cement, NTPC and L&T in BSE's benchmark.

At 9.59 a.m., Sensex was up 258 points or 0.32 per cent at 81,308 and Nifty was up 58.20 points or 0.23 per cent at 24,853.

In the Sensex pack, UltraTech Cement, M&M, Axis Bank, HUL, SBI, L&D, HDFC Bank, ICICI Bank, Bharti Airtel, NTPC, Asian Paints, Kotak Mahindra Bank and IndusInd Bank were the top gainers.

Tata Steel, Tata Motors, JSW Steel, Wipro, Titan, HCL Tech, Infosys, TCS, Power Grid, Tech Mahindra, Bajaj Finance, Maruti Suzuki and Nestle were the top losers.

Munoz to miss Colombia's World Cup qualifiers due to adductor strain

Munoz to miss Colombia's World Cup qualifiers due to adductor strain

Crystal Palace full-back Daniel Munoz has been ruled out of Colombia's World Cup qualifiers due to an adductor strain, the South American country's football federation said.

The 28-year-old has been replaced in the squad by Andres Roman, who was rewarded for his consistent performances with Colombian side Atletico Nacional, reports.

Colombia will meet Bolivia in El Alto at more than 4,100 meters above sea level on Thursday before facing Chile in Barranquilla five days later.

LG Electronics' operating earnings down 21 pc due to increased costs

LG Electronics' operating earnings down 21 pc due to increased costs

LG Electronics on Tuesday estimated its third-quarter operating profit sank 20.9 per cent from a year earlier, missing market expectations, due to increased logistics and marketing costs.

Its operating profit came to 751.1 billion won ($556.9 million) for the July-September period, down from 905.1 billion won from a year ago, the electronics major said in a regulatory filing.

Sales increased 10.7 per cent to 22.17 trillion won. The company did not provide the data for net income. The quarterly sales marked the largest amount for any third-quarter results.

Samsung's Q3 profit misses expectations on slow chip growth

Samsung's Q3 profit misses expectations on slow chip growth

Samsung Electronics on Tuesday estimated its third-quarter (Q3) operating profit nearly tripled, but missed market expectations due to the lukewarm performance of its high-end memory chips used in artificial intelligence (AI) computing.

The world's biggest maker of memory chips expected an operating profit of 9.1 trillion won ($6.8 billion) for the third quarter, up 274.5 per cent from a year earlier, Samsung Electronics said in a regulatory filing.

But operating profit retreated 12.8 per cent from three months earlier.

Revenue increased 17.2 per cent to a record 79 trillion won for the July-September period. The company did not disclose the data for net earnings in the guidance.

Gurugram: Three held for killing youth for long-standing grudge

Gurugram: Three held for killing youth for long-standing grudge

The Gurugram Police have arrested three accused for allegedly killing a 24-year-old man in Khedla village over a feud.

According to the police, the accused have been identified as Devender alias David (21), Sagar alias Saurabh (19) and Ankit (20), all residents of village Khedla in Gurugram. The victim has been identified as Atul, who too belonged to the same village.

The victim's father told the police that on October 6, David and Sagar took his son Atul on their bike and he was missing since then, following which a case was filed at Sohna Sadar police station.

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