Business News Northeast - Latest Business Northeast News & Updates

26 Sep

Edible oil prices expansion by 5-10 percent, may increase further

Business CorrespondentBusiness, News

Following the recent hike in import duty on crude oil and refined oil, consumers have started feeling the impact of inflation in key kitchen items like edible oil.According to the price monitoring cell of the consumer affairs department, the model or benchmark retail price of mustard, sunflower and palm oil, commonly used in Indian kitchens, rose to Rs 148 per litre, Rs 129 per litre and Rs 110 per litre on Tuesday from Rs 140, Rs 120 and Rs 100 per litre, respectively, on September 13. This is an increase of 5-10% since the duty hike was announced 12 days…

26 Sep

HCLFoundation leads coastal cleanup initiative across six states

Business BureauBusiness

HCLFoundation, the CSR arm of HCLTech, spearheaded a large-scale coastal cleanup initiative in honor of International Coastal Cleanup Day 2024. The campaign, spanning six states—Andhra Pradesh, Tamil Nadu, Odisha, Kerala, West Bengal, and Karnataka—engaged 2,426 volunteers who collectively removed 18,485 kg of waste from India's coastlines. Partnering with local communities, HCLTech employees, and environmental organizations such as the Tamil Nadu Forest Department and MS Swaminathan Research Foundation, the initiative aimed to address the growing threat of pollution to marine ecosystems. “Preserving our coastlines is a shared commitment,” said Dr. Nidhi Pundhir, Senior Vice President of Global CSR at HCLFoundation. “We…

26 Sep

Tata Tea Gold announces Kumartuli-inspired festive packs for Durga Pujo

Business BureauBusiness

Tata Tea Gold, the leading tea brand in West Bengal, is marking this year's Durga Pujo with an innovative celebration of Kumartuli craftsmanship. The company has unveiled limited edition festive packs themed "Kumartuli Art is the Heart of Bengal," capturing the essence of the festival through five symbolic elements representing each day of Pujo: Dhaki, Shankho Dhwani, Ashtami Pujarin, Dhunuchi dance, and Sindoor Khela. Each pack showcases intricately sculpted figurines that come to life through a QR code-enabled augmented reality experience. In Asansol, the response has been overwhelmingly positive. Local retailers are witnessing heightened consumer interest as families flock to…

25 Sep

Ola Electric shares gain 3%, Bernstein highlights strong growth prospects

Business CorrespondentBusiness, News

Shares of Ola Electric Mobility rallied over 3 per cent to Rs 107.5 in morning trade on September 25 after international brokerage firm Bernstein suggested that the company is extending its lead in the electric two-wheeler (EV 2W) segment and outpacing rivals in profitability.The report shows that Ola Electric not only boasts the highest gross margins among its competitors but is also inching closer to EBITDA level profitability, underlining the strong growth momentum of the company.Ola Electric has significantly improved its path to profitability, reporting an EBITDA margin of -2 per cent, outperforming rivals such as TVS (-7.9 per cent),…

24 Sep

Home loan disbursements decay 9% in June quarter: Report

Business CorrespondentBusiness, News

Home loan originations declined 9 per cent in the June quarter, according to a report released on Monday.Credit information company TransUnion CIBIL said in a report that home loan volumes in value terms were at par with the same period a year ago.The report said outstanding amounts on home loans grew by only 14 per cent during the quarter, making it the slowest growth among all categories that constitute retail loans.Interestingly, the decline in principal volumes and sluggish growth in outstanding balances have come at a time when the incidence of loan defaults has declined during the quarter, the report…

23 Sep

Aizawl hosts e-waste management summit 2024 to tackle growing challenges

Business BureauBusiness

Hulladek Recycling Pvt Ltd, in collaboration with the Mizoram Pollution Control Board (MPCB), successfully hosted the E-Waste Management Summit 2024. The event, held in Aizawl, aimed to address pressing issues and strategies concerning e-waste management in North Eastern India. The summit welcomed prominent figures such as Pu Joseph H. Lalramsanga, Commissioner of AMC, and Pu Liankima Lailung, Chairman of MPCB, highlighting the significance of collaborative efforts in combating e-waste challenges. “This summit marks a significant step towards effective e-waste management in the North Eastern states,” said Pu Lailung. Mizoram PCB Chairman said "Hulladek Recycling is the first company to put…

23 Sep

Helios expands to Asansol with first store in West Bengal’s emerging market

Business BureauBusiness

Helios, India's largest premium multi-brand watch retailer under Titan Company Ltd., marked a significant milestone with the launch of its first store in Asansol and 37th in West Bengal. The store, located on G.T. Road, was inaugurated by Mr. Upal Sengupta, RBM Watches Retail – East, and Mr. Ramkrishna Mukherjee, Business Associate. Spanning 450 sq. ft., the new Helios outlet offers an exclusive range of world-class watch brands, including Titan, Seiko, Citizen, Swarovski, Armani Exchange, Fossil, and Casio. Catering to diverse tastes, the store features timepieces ranging from classic designs to modern fashion and functional sports watches. As the only…

23 Sep

Honda India Foundation launches “Project Buniyaad” to empower youth in Mizoram

Business BureauBusiness

The Honda India Foundation (HIF) has unveiled "Project Buniyaad - Aathmanirbharta Ka Aadhar" in Aizawl, Mizoram, marking a significant advancement in skill development and employment for marginalized youth. Launched in collaboration with the Mizoram Youth Commission (MYC) and Visan Foundation, the initiative aims to offer 100% job placements in the hospitality sector to youth from North-Eastern states and Jammu and Kashmir. Inaugurated by Mizoram Chief Minister Shri Pu Lalduhoma, the project combines resources from HIF for funding, the State Government for infrastructure, Visan Foundation for training, and hotels and hospitals for job placements. Since its February 2024 debut, "Project Buniyaad"…

23 Sep

Signify supports 33,000+ flood-affected families in West Tripura with LED lights

Business BureauBusiness

Signify, a global leader in lighting, has stepped up to aid over 33,000 flood-affected families in West Tripura district by providing emergency LED lighting. Partnering with the District Administration and Agartala Municipal Corporation, the initiative is part of Signify’s ‘Har Gaon Roshan’ CSR program and aims to restore normalcy and safety in flood-hit homes. The project, executed with Foundation for Integrated Support and Solution (FISS), is led by District Magistrate Dr. Vishal Kumar and Mayor Dipak Majumder. The initiative focuses on helping families affected by floods, providing essential lighting solutions to ensure security and functionality during power outages. "Our goal…

23 Sep

Gold prices grow due to improvement in rural areas and strong demand due to festive season: World Gold Council

Business CorrespondentBusiness, News

New Delhi: According to the latest report of the World Gold Council, gold prices are witnessing a strong surge in both international and domestic markets, and jewellery buying and investment activities are expected to continue.Especially rural demand is showing signs of improvement. This year, due to better monsoon and higher crop sowing, the rural economic situation is expected to be strong, which is expected to increase gold purchases during the festivals.The report pointed out that gold prices continued to strengthen in September. International gold prices rose by 2.8 percent, while domestic prices rose by 1.6 percent in the same period.…