The Daily Dose, September 19, 2022
# Travel with a vengeance: Indians, it appears, are travelling overseas with a vengeance. Or, that is what the data on outward remittances put out by the Reserve Bank of India (RBI) suggests.
In the previous fiscal, Indians spent $6.91 billion on overseas travel, which in itself is the second highest remittances in a single year. The previous year’s high spending was driven by pent-up travel demand caused by Covid-19, which stalled international travel for nearly two years, the report said.
# Getting its aroma back: Cardamom has begun regaining its aroma with prices moving northwards, thanks to surging upcountry demand ahead of the festival season.
With a 30 per cent jump in demand, the sector is witnessing a revival after the Covid pandemic affected demand over the past two years, with the average price realisation in the auctions hovering at ₹1,100.
# Resurrect IPO plans: Oyo Hotels, the once high-flying Indian start-up, is reviving plans for a stock-market debut after cost cuts and a recovery in travel helped it reduce losses.
Oyo had filed preliminary IPO documents in 2021, only to shelve the listing plan earlier this year after the prolonged pandemic hurt its growth and forced the company to cut thousands of jobs, says this report.
# Guidance against antibody therapies:New guidance from the World Health Organization (WHO) strongly advises against using the antibody therapies sotrovimab and casirivimab-imdevimab to treat patients with Covid-19.
September 19, 2022