Business News Northeast - Latest Business Northeast News & Updates

04 Jun

Gross GST revenue collection in May 2024 stands at ₹1.73 lakh crore; Recorded 10% rise up year-on-year

Business CorrespondentBusiness, News

Mumbai: Gross goods and services tax (GST) revenue for May 2024 stood at ₹1.73 lakh crore. This represents a 10 percent year-on-year increase, driven by strong growth in domestic transactions (up 15.3%) and a slowdown in imports (down 4.3%). After accounting for refunds, the net GST revenue for May 2024 is ₹1.44 lakh crore, showing a growth of 6.9% over the same period last year. The gross GST collection in the financial year 2024-25 till May 2024 stood at ₹3.83 lakh crore. This represents an impressive growth of 11.3% year-on-year, driven by strong growth in domestic transactions (up 14.2%) and…

03 Jun

Mandeep Singh Kumar appointed as the new Vice President of Medtronic India

Business BureauBusiness

India Medtronic Private Limited, a wholly owned subsidiary of Medtronic plc announced the appointment of Mandeep Singh Kumar as the new Vice President and Managing Director of India Medtronic Pvt. Ltd., beginning May 2024. He succeeds Michael Blackwell who has moved back to the US to pursue new opportunities. Assuming this position, he will oversee sales, marketing, and commercial operations for Medtronic’s business in India. Mandeep Singh Kumar, with over 25 years of experience, has successfully led growth and business transformations in healthcare, pharmaceutical, and med-tech sectors. His expertise includes strategy development, execution, commercial excellence, and team building. He served…

03 Jun

Hero MotoCorp introduced the Splendor+XTEC 2.0

Business BureauBusiness

Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, has launched the latest generation of the iconic Splendor – the Splendor+XTEC 2.0 – to celebrating the 30th anniversary of the world’s highest-selling motorcycle. The Splendor+ XTEC 2.0 is available at Hero MotoCorp dealerships across the country at an attractive price of Rs. 82911 (Ex-showroom, Delhi). The Splendor, a premium and tech-laden vehicle, maintains its iconic design while incorporating modern features like LED headlights and HIPL (High Intensity Position Lamp), a unique H-shaped tail lamp. Showcasing its all-around dominance, the motorcycle boasts excellent fuel efficiency of 73 kmpl. The Splendor+…

03 Jun

Amul milk increases prices by Rs 2 per litre nationwide

editorBusiness

The Gujarat Cooperative Milk Marketing Federation (GCMMF) has announced that Amul milk price is increased by Rs 2 per litre, due to overall cost of operation and to compensate farmers for their increased cost of production. The GCMMF issued notice saying, "This price hike is being done due to an increase in the overall cost of operation and production of milk. Our member unions have also increased farmers’ compensation by approximately 6-8 per cent over the last one year." Further, the Amul milk price hike will be effective by today, Monday over nationwide.

01 Jun

IIFL Samasta Aims to Raise Rs. 1,000 Crores Through Bonds

Business BureauBusiness

IIFL Samasta Finance, which is one of India’s largest non-banking microfinance companies (NBFC-MFI), will raise up to Rs 1,000 crores through public issue of secured bonds, for the purpose of capital augmentation and business growth. The bonds offer up to 10.50% and high degree of safety. The issue opens on Monday, June 3, 2024 and closes on Friday, June 14, 2024. IIFL Samasta Finance plans to issue bonds totaling Rs 200 crore, with a green-shoe option to retain up to Rs 800 crore (aggregating to a total of Rs 1,000 crore), with the highest coupon rate of 10.50% per annum…

01 Jun

The UNOX Lounge is meticulously designed to showcase the extensive range of UNOX’s advanced baking and cooking equipment

Business CorrespondentBusiness

UNOX, a leading Italian brand renowned for its high-performance commercial ovens designed for the food service, retail, pastry, and bakery sectors, has proudly inaugurated its cutting-edge UNOX Lounge in Guwahati, Assam. This innovative Lounge, launched by UNOX in collaboration with its dealer Opus Innovation, offers potential customers a unique and immersive experience with UNOX’s professional ovens before making a purchase. The UNOX Lounge is meticulously designed to showcase the extensive range of UNOX's advanced baking and cooking equipment, including convection ovens, combi-ovens, speed ovens, and more. The facility is equipped with modern amenities where professional chefs from UNOX will demonstrate…

31 May

‘Solve for Tomorrow’ initiative being introduced to local students in Sikkim

Business BureauBusiness

Samsung introduced the first ever design thinking & training workshops at select schools of Mangan in Sikkim. This unique initiative, part of Samsung’s ‘Solve for Tomorrow’ programme, focuses on enhancing essential skills such as problem-solving, critical thinking, probing, and creativity among students through the Human-Centered Design Thinking framework. Solve for Tomorrow is a national education and innovation competition, which aims to foster a culture of innovation amongst the next generation. These workshops, tailored for India, aim to promote design thinking among students, encouraging them to identify and solve real-world problems. Mr. SP Chun, Corporate Vice President, Samsung Southwest Asia said,…

31 May

UAE announces midday break from June 15 to September 15; up to Dh50,000 fine for violators

Business CorrespondentBusiness

The Ministry of Human Resources and Emiratisation made an announcement of the Midday Break - prohibiting work under direct sunlight and in open-air areas across the UAE - between 12:30 and 15:00, from 15th June until 15th September, 2024. The Midday Break takes into consideration the need to keep regularity in certain jobs that affect the community as a whole. Jobs which are required to be done without uninterruption are exempted from implementing the decision for technical reasons. These include laying asphalt or pouring concrete if it is inconvenient to postpone these tasks until after the Break. Also on the…

31 May

CIL releases results for the quarter and year ended March 31, 2024

Business BureauBusiness

Cummins India Limited's (CIL) Board of Directors approved the financial results for the quarter and year ending March 31, 2024, at their meeting. Ashwath Ram, Managing Director, Cummins India Limited, said, “Indian economy continues to remain resilient despite geopolitical events and other economic events impacting the growth of various countries. Key economic indicators like GDP growth rate of 7.6% and consistent PMI indicate optimism about continued growth.” The company's Q4 performance based on standalone financial results showed a 20% increase in total sales to Rs. 2,269 Cr. compared to the previous year and a 9% decrease in sales to the…

31 May

Historic heart surgery at Fortis Bannerghatta restores mobility for elderly Mizoram patient

Business BureauBusiness

Fortis Hospital Bannerghatta Road has made history by performing Karnataka's first Edwards Sapien 3 Ultra valve replacement surgery. The groundbreaking Transcatheter Aortic Valve Replacement (TAVR) procedure, completed in just 45 minutes, restored mobility for 75-year-old Vanlalzaunga from Mizoram, who had been wheelchair-bound for four months. Under the expert care of Dr. Srinivas Prasad BV, Senior Consultant in Interventional Cardiology, the advanced TAVR procedure used the latest Edwards Sapien 3 Ultra valve. This cutting-edge technology provides improved valve sealing and minimizes procedural risks, enabling quicker recovery times. Remarkably, Mr. Vanlalzaunga was able to walk unassisted just four hours post-surgery.Diagnosed with aortic…