Business News Northeast - Latest Business Northeast News & Updates

08 May

Kotak Mahindra Bank gets nod to buy 9.99% stake in City Union Bank

anuprovaBusiness

In a major regulatory development, the Reserve Bank of India (RBI) has permitted Kotak Mahindra Bank to acquire a strategic stake of up to 9.99 per cent in Tamil Nadu-based City Union Bank (CUB). The announcement in a regulatory filing on May 7, 2026, confirms the central bank issued its “no-objection” letter earlier this week. The approval will enable Kotak Mahindra Bank and its subsidiaries and managed funds to raise their combined stake in the century-old private sector lender based in Kumbakonam. The acquisition is subject to compliance with the Banking Regulation Act, 1949 and the RBI’s 2025 Master Directions…

07 May

Nifty 50 Reclaims Crucial Support as U.S.-Iran Peace Hopes Ignite Path Toward 25,000

anuprovaBusiness

The Indian equity market staged a resilient recovery this week as the Nifty 50 bounced back from its critical support zone near 24,000, closing at 24,326 on Thursday after a volatile session. Investor sentiment has been dramatically reshaped by mounting optimism over a potential peace deal between the United States and Iran, which could bring an end to the "Strait of Hormuz" blockade that has choked global energy supplies since February. Reports of a one-page memorandum of understanding currently under review in Tehran triggered a sharp correction in Brent crude prices—which tumbled from recent highs above $115 toward the $95…

07 May

Life insurance industry posts 15.7% growth in FY26, premium collections near Rs 4.6 lakh crore

Business BureauBusiness

India’s life insurance industry reported robust growth in FY26, with total new business premium (NBP) rising 15.7% year-on-year to ₹4,59,713 crore, compared to ₹3,97,337 crore in FY25, signalling strong demand and improving market confidence. In March 2026, insurers collected ₹75,872 crore in new business premium, up from ₹61,439 crore in March 2025, reflecting sustained traction across both individual and group segments. Growth was led by the group business segment, with Group Single Premium increasing 17.5% to ₹2,49,766 crore and Group Yearly Renewable Premium surging 39%. Group Non-Single Premium also registered notable gains, though on a smaller base. The individual segment…

07 May

Geopolitical Unrest Fuels Profit Surge for Big Oil as Q1 Risk Premiums Spike

sonaliBusiness

The global energy landscape continues to be defined by the economic fallout of the 2026 Iran war, as Shell becomes the latest major to report a significant jump in quarterly earnings. On Thursday, the London-listed firm announced first-quarter profits of $6.92bn (£5.1bn), comfortably exceeding analyst projections of $6.36bn. This performance marks a sharp increase from the $5.58bn recorded during the same period last year, a growth trajectory driven almost entirely by the geopolitical premium now baked into every barrel of crude. The ongoing maritime blockade of the Strait of Hormuz—a critical artery that historically facilitates 20% of the world’s oil…

07 May

Kolkata’s favourite restaurants revealed amid record-breaking 1.3 crore+ votes: Swiggy Restaurant Awards 2026

Business BureauBusiness

Swiggy announced the Kolkata winners of the Swiggy Restaurant Awards 2026, marking its largest-ever nationwide edition with over 1.3 crore votes from 6.43 lakh users—a sharp 2.2X increase from last year. The awards spanned 160+ cities, 110 categories, and recognised over 15,000 brands, driven by strong engagement including 43.8 lakh shared voting links and participation from 25,000 new users. In Kolkata, a mix of legacy favourites and emerging brands dominated both delivery and dineout segments. Leading names in food delivery included Oudh 1590, Arsalan, WeFit – Protein Bowls, Salads & Sandwiches, Chowman and Mio Amore – The Cake Shop. In…

07 May

Indian professionals are more alert to job scams but risk persists under pressure, new research from LinkedIn reveals

Business BureauBusiness

Indian professionals are becoming increasingly cautious about online job scams, with 82 per cent now pausing to assess whether a job opportunity is legitimate before applying, according to new research released by LinkedIn. The study, titled “Job Search Safety Pulse,” found that 53 per cent of Indian professionals are now more likely to question whether a job posting is fake compared to a year ago. However, the report highlighted that Gen Z job-seekers remain particularly vulnerable despite growing awareness. According to the findings, 54 per cent of Gen Z respondents admitted ignoring warning signs during high-pressure job searches when opportunities…

07 May

ABD’s Rangapur plant wins Telangana’s Best Factory Award, boosts manufacturing credentials

Business BureauBusiness

Allied Blenders and Distillers Limited (ABD) has secured the Best Factory/Management Award for its integrated manufacturing facility at Rangapur in Wanaparthy district, Telangana. The honour was conferred by the Labour, Employment, Training & Factories Department during International Labour Day celebrations on May 1, 2026, recognising excellence in manufacturing and management practices. The Rangapur unit is one of ABD’s key production hubs, comprising an Extra Neutral Alcohol (ENA) distillery, an IMFL bottling unit, and a PET bottle manufacturing plant commissioned in September 2025. The integrated setup allows tighter control over production cycles, costs, and supply chain logistics. The company is also…

07 May

Tata Motors introduces the all-new Ace Gold+ XL; reaffirms 21 years of progress with ‘Ikkis Saal Bemisaal’ campaign

Business BureauBusiness

Tata Motors has launched the all-new Ace Gold+ XL, marking 21 years of its iconic small commercial vehicle, the Tata Ace. The launch also coincides with the rollout of the nationwide ‘Ikkis Saal Bemisaal’ campaign, celebrating entrepreneurs who have built livelihoods around the ‘Chota Haathi’. Designed for higher payloads and longer applications, the Ace Gold+ XL features an 8-foot load body and 1-tonne payload capacity, aimed at boosting cargo volume and earnings. Powered by a 700cc turbocharged diesel engine delivering 22 PS power and 55 Nm torque, the vehicle uses Lean NOx Trap (LNT) technology, eliminating the need for Diesel…

06 May

Amazon Launches Integrated 3PL Platform for Manufacturers and Retailers

nanikaBusiness

In a move drawing immediate parallels to the birth of Amazon Web Services (AWS), Amazon has officially opened its massive, proprietary supply chain network to external businesses. The launch of Amazon Supply Chain Services (ASCS) marks a radical strategic shift, transitioning the company’s logistics infrastructure from a private cost center into a global, revenue-generating third-party logistics (3PL) powerhouse. For the first time, companies in sectors ranging from healthcare and automotive to manufacturing can leverage Amazon's end-to-end capabilities. This includes its fleet of over 100 cargo aircraft, 1,200 global logistics facilities, and its sophisticated last-mile delivery network. Doug Herrington, CEO of…

05 May

Jet fuel price surge turns structural risk for Indian aviation, warns Aon executive

Business BureauBusiness

Indian airlines are facing rising financial strain as aviation turbine fuel (ATF) prices surge, with industry experts warning that fuel volatility is no longer a short-term shock but a structural risk. Sunil Kadam, Executive Vice President, Airlines & General Aviation, Commercial Risk Solutions, India at Aon, said escalating global oil prices, compounded by geopolitical tensions in West Asia and airspace constraints, are significantly impacting airline operations. Kadam noted that ATF remains one of the largest cost exposures for Indian carriers. Higher fuel prices, longer routing due to restricted airspace and increased fuel burn are reducing network efficiency, especially on international…