Business News Northeast - Latest Business Northeast News & Updates

30 Jul

Max Life declares PAR Bonus of Rs. 1,420 Cr. for FY21-22

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Max Life Insurance Company Ltd has announced its highest-ever participating bonus of Rs. 1,420Cr. for eligible policyholders in FY21-22. Max Life has surpassed the milestone of Rs. 10,000Cr. of declared bonus for participating customers since inception. This is the Company's 20th consecutive annual bonus, 9.05% higher than the preceding fiscal year. The life insurer’s annual bonus has increased at a 5-year compound annual growth rate of more than 11%. The declared annual bonus will be added to approximately 21 lac eligible participating policyholder’s benefits, aiding their long-term financial goals. The life insurer has also strengthened participating propositions that made up…

29 Jul

Bombay High Court orders demolition of 48 high-rise buildings near Bombay international airport

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The Bombay High Court nowadays in its orders had issued directions to the Collector, Mumbai Suburban, to demolish portions of forty eight high-rise buildings close to the Mumbai International Airport, in compliance with the orders of the DGCA as stated with the aid of information business enterprise ANI. The portions developed above a sure top are to be demolished as per the Bombay High Court order. A division bench of Chief Justice Dipankar Dutta and Justice MS Karnik pulled up the collector for trying to shift the responsibility of the demolition to the Brihanmumbai Municipal Corporation (BMC) and said the…

29 Jul

North-East India Festival in Bangkok

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As India and Thailand celebrate 75 years of diplomatic relations, the two countries, through the upcoming North-East India Festival, being hosted in Bangkok will further look at boosting bilateral relations. Minister of State for External Affairs, Rajkumar Ranjan Singh will be gracing the festival as the Chief Guest alongside Thailand’s Deputy Prime Minister and Minister of Commerce, Mr. Jurin Laksanawisit. Chief Ministers of the eight North-East states will also be present. The Festival is also an important step to strengthen India’s Act East Policy, under which development of North-Eastern states can be made possible through cooperation and investments from Southeast…

29 Jul

Tata Motors and Axis Bank offer an exclusive Program

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India’s leading automotive manufacturer Tata Motors has joined hands with Axis Bank, India’s third largest private sector bank, to offer an exclusive Electric Vehicle Dealer Financing solution to its authorized passenger EV dealers. Under this scheme, dealers can avail inventory funding over and above their ICE finance limit with attractive pricing linked to Repo Linked Lending Rate. The repayment tenure will range from 60 to 75 days. The bank will also offer additional limit to cater to high demand phases, which will be available to dealers 3 times in a year. The MoU for this partnership was signed by Mr.…

29 Jul

ICICI Pru Life’s strong financial performance

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ICICI Prudential Life Insurance has posted a strong financial performance for Q1-FY2023. The VNB for Q1-FY2023 grew by 31.6% year-on-year to 4.71 billion. The VNB margin for Q1-FY2023 stood at 31.0%, up from 28.0% for FY2022. Annualised Premium Equivalent grew by 24.7% year-on-year to 15.20 billion in Q1-FY2023. Annuity APE registered a strong growth of 69.0% year-on-year to 0.98 billion in Q1-FY2023. Protection APE grew by 22.2% year-on-year to 3.30 billion in Q1-FY2023. New Business Sum Assured grew by 24.9% year-on-year to 2.21 trillion in Q1-FY2023. The Company’s market share, based on Total New Business Sum Assured, increased from 13.4%…

29 Jul

CM of Meghalaya Shri. Conrad Sangma launcheS FOCUS+

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Hon’ble Chief Minister of Meghalaya Shri. Conrad Sangma has launched FOCUS+ as an expansion to his flagship initiative FOCUS to benefit all households across Meghalaya. In its new format, FOCUS+ will provide an opportunity to families to take up additional activities and contribute towards agriculture value chain development. Under this scheme, a financial aid of Rs 5,000/- per household will be provided directly to the beneficiary’s bank account. Speaking at the event, Hon’ble Chief Minister of Meghalaya, Mr. Conrad K Sangma said, “FOCUS is very close to my heart, because it helped a large section of our farming community! And…

29 Jul

Amazon Prime Day 2022 delights Prime members

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Prime Day 2022 in India came to a successful close this weekend (July 23 and 24) with members across India discovering joy at the two-day celebration with the best deals, savings, new launches, blockbuster entertainment and more. Prime members from 95% of the pin codes in India purchased during this year’s Prime Day more than 32,000 sellers saw their highest ever sales day. 1.5x more customers signed up for Prime membership compared to last year’s Prime Day. Prime members from over 3800 Indian cities and towns and in over 230 countries and territories have watched India’s Prime Day releases on…

29 Jul

Latest Gold Demand Trends report

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The World Gold Council’s latest Gold Demand Trends report reveals that gold demand (excluding OTC) in the second quarter was down 8% year-on-year to 948t. Gold demand for the first half of 2022 is up 12% compared to H1 2021at 2,189t. The gold price dropped in the second quarter of 2022 as investors shifted their focus to rapidly rising interest rates and a strikingly strong US dollar. The 6% decline in the gold price over the quarter impacted gold ETFs, which saw outflows of 39t in Q2. Net H1 inflows totalled 234t, compared to 127t of outflows in H1 2021.…

29 Jul

ATS ELGI announces manufacturing agreement with VTEQ

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ATS ELGI, a wholly-owned subsidiary of Elgi Equipments Limited and India's largest garage equipment manufacturer, announced its manufacturing agreement with VTEQ, a global leader in vehicle testing equipment based out of Spain. It is the largest manufacturer and distributor of Automotive Service Equipment in India and offers the broadest range of garage equipment in the country. It will set up a world-class 7500sq.ft. manufacturing facility to manufacture previously imported vehicle testing equipment for the Indian market at competitive prices. The equipment spans brake, suspension, slip, and speedo testers, axle play detectors, and steering gear play. Praveen Tiwari, Managing Director, ATS…

29 Jul

TECNO launches new smartphone – TECNO SPARK 9T

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TECNO Mobile, the global premium smartphone brand launches TECNO SPARK 9T, under its ‘SPARK series’. It boasts the integration of an advanced triple-rear camera set-up at a disruptive price-point of Rs.9,299. TECNO has cemented its position as the 4th largest smartphone player in the sub-10K segment as per Counterpoint Research. It comes with F1.6 large Aperture with PDAF technique, 50MP Ultra Clear High-Resolution AI Triple rear camera with Super Night Mode, 8MP selfie camera with a dual front flashlight, 6.6” Full HD+ Dot-Notch Display, 1080x2408 full HD resolution with 401PPI high pixel density, IPX2 splash-resistant, 5000mAh Powerful Battery with 18W…