Business News Northeast - Latest Business Northeast News & Updates

09 Dec

Oil prices upsurge as China eases monetary policy to boost economic growth

Business CorrespondentBusiness, News

Oil prices rose more than 1% on Monday, as top importer China took its first step toward easing monetary policy for the first time since 2010 to boost economic growth, state media reported, citing a politburo meeting. Brent crude futures rose $1, or 1.4%, to $72.12 a barrel at 1356 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.09, or 1.6%, to $68.29. "Oil prices are likely to jump as monetary policy easing in China has boosted risk sentiment," said UBS analyst Giovanni Stauno. China's growth has stalled, as a slowdown in the property market has hit confidence and…

09 Dec

40 students from varied higher education institutions from Rajasthan reach IIEST

Business BureauBusiness

A delegation of 40 students from varied higher education institutions from Rajasthan has reached IIEST, Shibpur, West Bengal, as a part of the fifth phase of the Govt’s. ambitious cultural and educational endeavor, the ‘Ek Bharat Shreshtha Bharat YuvaSangam’ programme. While IIT Jodhpur is the nodal institute from Rajasthan, IIEST Shibpur is the nodal institute from West Bengal. The delegate members will stay in IIEST Shibpur from 4th-9th Dec 2024. Through this visit, the emphasis will be on increasing the exchange of rich culture, tradition and ideas between the two states. As part of the itinerary, the student delegate will…

09 Dec

United Breweries Limited ushers in a new era of premium beer in the country

Business BureauBusiness

United Breweries Limited (UBL), the country's largest beer manufacturer, part of the HEINEKEN Company, has launched its iconic premium beer, Amstel Grande, in West Bengal. This marks the beginning of a new chapter in India's premium beer segment, blending UBL's brewing expertise with Amstel's 150-year heritage from Amsterdam. Amstel Grande promises to offer Indian consumers an unparalleled beer experience, thanks to its secret ingredient: time. The beer is slow brewed and matured longer, allowing its flavors to fully develop, resulting in a rich, smooth taste. Crafted using the finest quality barley, unique Dutch yeast, and carefully selected hops, each sip…

09 Dec

Empowering youth through consent: Durex’s bold move at Hornbill Festival 2024

Business BureauBusiness

Durex's The Birds and Bees Talk (TBBT), an impactful life skills program by Reckitt, a global leader in health and hygiene, has proudly marked its third consecutive year as the official health partner of Northeast India's most iconic cultural celebration—the Hornbill Festival. As the festival celebrates its milestone 25th edition, TBBT is set to launch Asia's first Consent Café, a pioneering initiative designed to spark meaningful conversations around consent, equity, and healthy relationships. The Hornbill Festival, expected to welcome over 150,000 visitors from December 1 to 10 at Kisama Heritage Village, Kohima, offers a unique platform to blend traditional heritage…

07 Dec

SBI has projected GDP grow at 6.3%, lower than RBI’s 6.6% estimate for FY25

Business CorrespondentBusiness, News

The State Bank of India (SBI) has projected that India's gross domestic product (GDP) will grow at 6.3% during the current financial year (FY25), lower than the Reserve Bank of India's (RBI) forecast of 6.6%, which was revised upward from 7.2% earlier. "We believe GDP growth for FY25 will be lower than the RBI forecast and are pegging it at 6.3%," SBI said. On Friday, RBI governor Shaktikanta Das announced the central bank's revised estimate for GDP growth. This came after the country's economy grew at 5.4% in the July-September quarter of FY25, the lowest growth in seven quarters. This…

07 Dec

ICICI Prudential Life Insurance boosts advisor productivity with IPRU Edge app

Business BureauBusiness

IPRU Edge, a mobile app offered by ICICI Prudential Life Insurance exclusively for its advisors, has led to a 37% increase in their productivity in H1-FY2025, resulting in higher earnings for them. Importantly, 98.1% of agents using IPRU Edge were paid commissions on the same day. ICICI Prudential Life is the first life insurer to pay out commissions on the same day to select distributors. The company has a network of over 2 lakh advisors, and approximately 61% of the company’s top advisors are now actively using the app, which is helping them grow their business. In H1-FY2025, the company…

06 Dec

IGL shares gain over 3% on bonus issue plan

Business CorrespondentBusiness, News

IGL share price jumped nearly 4 per cent in mid-day trade on December 5 after the city gas distributor announced that the board will consider a proposal to issue bonus shares on December 10. "It is notified that the Board of Directors is scheduled to meet on December 10, 2024 to consider a proposal to issue bonus shares in the prescribed proportion to the equity shareholders of the company, subject to the approval of the shareholders," a statement issued by the company on December 4 said. The company has not announced the bonus ratio and is likely to announce it…

06 Dec

Dr. Reddy’s Laboratories Ltd. announce the launch of Toripalimab in India

Business BureauBusiness

Dr. Reddy’s Laboratories Ltd. announced the launch of Toripalimab in India. Toripalimab is a New Biological Entity (NBE). It is the only immuno-oncology drug approved by various regulatory authorities around the world such as the United States Food and Drug Administration (USFDA), European Medicines Agency (EMA), Medicines and Healthcare products Regulatory Agency (MHRA), and others for the treatment of adults with recurrent or metastatic nasopharyngeal carcinoma (RM-NPC). Only immuno-oncology drug approved by various regulatory authorities around the world such as the USFDA, DCGI, EMA, MHRA,NMPA and others for the treatment of adults with recurrent or metastatic nasopharyngeal carcinoma (RM-NPC). Combination…

05 Dec

Aviva India posts ₹63 crore profit in H1 FY25, announces plans for greater inclusion

Business BureauBusiness

Aviva India has reported a profit of ₹63 crore for the first half of FY25, a 25% increase from ₹50 crore in the same period last year. Assets Under Management (AUM) rose by 13% to ₹14,636 crore, reflecting robust investor confidence and effective fund management. The solvency ratio improved to 194% from 189% in H1 FY24, underscoring the company’s financial stability. Gross Written Premiums (GWP) stood steady at ₹548 crore, while operational efficiency advanced significantly, with the Opex-to-GWP ratio declining to 27% from 30%. Aviva’s product mix showed an increased focus on protection plans, aligning with evolving customer needs. CEO…

05 Dec

Funding by MFs to NBFCs jump nearly 47% to Rs 2.33 trillion in October 2024

Business CorrespondentBusiness, News

Funding raised by non-banking financial companies (NBFCs) from mutual funds (MFs) grew nearly 47 percent year-on-year (Y-o-Y) to Rs 2.33 trillion in October 2024. Sequentially, funding support by MFs to NBFCs increased by 0.3 percent compared to September, according to CARE Ratings. Mutual funds (MFs) credit exposure to NBFCs, which includes commercial paper (CP) and corporate debt, has remained above Rs two trillion for more than half a year now. Moreover, CP has remained above the one trillion mark for almost a year, currently at Rs 1.22 trillion. Banks' credit exposure to NBFCs stood at Rs 15.4 trillion in October…