Business News Northeast - Latest Business Northeast News & Updates

13 Jan

Citigroup to cut 20,000 jobs over next two years

Priyanka BhowmickBusiness, IndiaBusiness, India

Citigroup plans to cut 20,000 jobs over the next few years as part of a corporate restructuring designed to boost profits and return cash to shareholders, the U.S. bank said Friday.The downsizing came in a presentation released alongside the New York-based lender's fourth-quarter results in which it reported a big loss. The move would put the headcount at about 180,000 by the 2026 deadline, down from 240,000 at the end of 2022 -- while also reflecting the expected spinoff of Citi's Mexico subsidiary, Banamex. Citi Chief executive Jane Fraser unveiled a corporate overhaul with five business lines instead of two.…

12 Jan

Indo Petroleum Marketing to start its Business from Assam

Business CorrespondentBusiness

Indo Petroleum Marketing or IPM is a Delhi-based start-up company that has been granted transportation fuel retail marketing authorization by the Ministry of Petroleum and Natural Gas (‘Ministry’) under its revised policy for grant of Transportation Fuel Marketing Authorization to private entities (including start-ups) as per its Resolution No P-12029(11)/2/2018-OMC-PNG dated 8th November, 2019. The said revised policy was framed by the Ministry to realize the objectives of the flagship ‘Start-Up India’ initiative of our Hon’ble Prime Minister, Shri Narendra Modi with the stated intention “to catalyse start-up culture and build a strong and inclusive ecosystem for innovation and entrepreneurship…

12 Jan

Tata Starbucks ambition to operate 1,000 stores in India

Business BureauBusiness

Tata Starbucks Private Limited has announced its ambition to operate 1,000 stores in India by 2028, or one new store opening every three days. The strategy focuses on skilling local partners for jobs, opening new stores that serve customers with an elevated experience, and promoting Indian-origin coffee to Starbucks customers around the world. India is projected to become the world's third-largest by 2030, making it a focus area of growth for Starbucks. Through a 50:50 joint-venture between Starbucks Coffee Company and Tata Consumer Products Limited, Tata Starbucks now operates in over 390 stores across 54 Indian cities. To achieve its…

12 Jan

QNET Disapprove Unfounded Scam Allegations

Business BureauBusiness

QNET's India franchisee, Vihaan Direct Selling (India) Pvt. Ltd, is a legally registered entity that adheres to all laws. QNET appreciates the trust of its independent distributors and customers in India, and is grateful for their support. The public domain references to QNET as a scam business are baseless and are primarily targeted by vested interest groups. QNET's India franchisee, Vihaan Direct Selling, has provided all necessary documents to authorities to prove its legitimacy and is cooperating in their investigation. They are confident of being cleared of any wrongdoing once investigations and court proceedings are complete. However, they refute allegations…

12 Jan

Samsung launches a portal in Las Vegas to explore new mobile AI possibilities

Business BureauBusiness

In anticipation of Galaxy Unpacked on January 17, Samsung is teasing new mobile AI-powered capabilities. To celebrate the new era of Galaxy innovations, Samsung teamed up with Marvel Studios’ “What If…?” Season 2 for an epic takeover of Sphere’s giant exterior LED display on January 8. Featuring Doctor Strange, the Las Vegas skyline lit up to hint at new mobile AI capabilities coming soon to Galaxy users worldwide. Just as Marvel’s renowned character Doctor Strange discovers new portals of endless possibilities, Galaxy AI will enable discovery in a whole new way A new era is coming with Galaxy AI. Tune…

12 Jan

CEAT ISRL conducted its Mega Rider Auction

Business BureauBusiness

The CEAT ISRL, the world's first-ever franchise-based Supercross league, held its Mega Rider Auction for Season One at the JW Marriott in Pune. The auction attracted 104 riders, including 73 international racers and 31 Indian riders. The cumulative auction kitty reached INR 6 Cr, showcasing the league's commitment to excellence. Veer Patel, Director & Co-Founder of CEAT ISRL, praised the rider auction's success. He emphasized the start of an electrifying season that will redefine Supercross and impact the global motorsport scene. The 85cc junior class was the most competitive, with Bhairav C Gowda earning the highest bid. Thomas Ramette secured…

12 Jan

Amarnath’s as Amazon’s Trucking Partner in Nagaland

Business BureauBusiness

Amarnath Banik, a 38-year-old entrepreneur from Guwahati, has become Amazon's trucking partner in the Northeast including Nagaland. Nagaland rugged terrain presents challenges for truckers but also offers economic opportunities. Entrepreneurs from diverse backgrounds are venturing into the industry to serve the growing needs of e-commerce and logistics, paving the way for robust transportation networks. Banik's journey with Amazon's trucking partner program has transformed his family's trucking business and helped his company earn a stellar reputation for navigating the unique geographical and infrastructural challenges of the region. Amarnath's entrepreneurial journey began at an early age, with his family's trucking business established…

12 Jan

Mukesh Ambani re-joins $100 billion club

Priyanka BhowmickBusiness, IndiaBusiness, India

Reliance Industries Ltd (RIL) chairman Mukesh Ambani has joined the elite club of centi-billionaires - global tycoons with a net worth of at least $100 billion. Ambani's wealth rose after Reliance Industries Ltd hit a new record high on Thursday and other group companies rose sharply of late. According to data available with the Bloomberg Billionaires Index, Mukesh Ambani added $2.76 billion in the previous trading session as his wealth stood at $102 billion. He is currently ranked 12th. Mexican businessman Carlos Slim is just $1 billion ahead of Ambani. Bloomberg's Billionaires Index has only a dozen centi-billionaires. Shares of…

11 Jan

IIT-Delhi researchers propose novel solution to ensure ‘minimum income guarantee’ to food-delivery agents

Business CorrespondentBusiness

The team of Researchers at the Indian Institute of Technology Delhi has developed a solution named 'Work4Food' to provide fair compensation for food delivery agents and reduce the platform costs, officials said on Tuesday. The proposed solution was recently presented at the prestigious International Joint Conference on Artificial Intelligence. The idea was developed by Abhijjnan Chakraborty, a professor at the computer science and engineering department of IIT-Delhi, PhD Scholar Anjali and Sayan Ranu and Amitabha Bagchi, professors at the same department. As per the statement of the officials, the gig economy model has been a driving force in the food-delivery…

11 Jan

Air India Express kicks off ‘Time to Travel’ sale, fares starting at ₹1,799

Business CorrespondentBusiness

Air India Express on 9th of Jan revealed its latest sale on domestic flights across major channels for bookings made until January 11 2024 and for travel till September 30. The Air India Express 'Time to Travel Sale' has fares beginning from ₹1,799. There are fabulous deals on flight routes such as Kolkata-Bagdogra, Delhi-Jaipur, Bengaluru-Kochi, Delhi-Gwalior and Bengaluru-Chennai, with additional discounted sale fares across its network. Under the NeuPass rewards programme, the members who have subscription with Highflyer and Jetsetter badges, will receive priority services under Xpress Ahead as complimentary. Additionally, the members of the Tata NeuPass Rewards Programme can…