Business News Northeast - Latest Business Northeast News & Updates

20 Jun

Becomes ‘net debt-free’, announces Mukesh Ambani

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New Delhi: Reliance Industries (RIL) chairman Mukesh Ambani on Friday announced that the oil-to-telecom conglomerate has become debt free after raising over Rs 1.69 trillion over the last few weeks through stake sales in its digital arm and a rights issue. In a statement, the company said that the Reliance Industries has "fulfilled promise to shareholders much before the original schedule of March 31, 2021". "The combined capital raised has no precedence globally in such a short time. Both of these are also unprecedented in Indian corporate history and have set new benchmarks. This is even more remarkable that this was achieved amidst a global lockdown caused by the…

20 Jun

BMW appoints Vikram Pawah as new president

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German luxury car maker BMW on Saturday appointed Vikram Pawah as the president of BMW Group India effective August 1, 2020, in addition to his current role as chief executive officer of BMW Group Australia and New Zealand. Following the sudden demise of Rudratej Singh, the then president and chief executive officer in April this year, Chief Financial Officer Arlindo Teixeira has been carrying out the role as acting president of BMW Group India. Pawah has been with the BMW Group since 2017, when he joined BMW Group India as the president. In 2018, he was appointed the chief executive officer…

19 Jun

ICICI Lombard General Insurance

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ICICI Bank said on Friday it offloaded ICICI Lombard General Insurance Company shares worth Rs 2,250 crore to further strengthen its balance sheet. The 1.8 crore shares sold on Friday were of a face value of Rs 10 each, representing a 3.96 per cent stake in ICICI Lombard General Insurance. After the transaction, ICICI Bank's stake in ICICI Lombard General Insurance Company decreased to 51.9 per cent, from 55.86 per cent at the end of March 2020. Shares in ICICI Lombard General Insurance Company declined to as low as Rs 1,250.10 apiece on the BSE on Friday, marking a fall of 2.07 per cent compared…

19 Jun

Mukesh Ambani Wins Half of 2020 Deals in Global Telecom

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Billionaire Mukesh Ambani's Jio Platforms Ltd. has attracted more than half the $30 billion investment into telecom companies globally this year, on bets the wireless and digital services firm will disrupt India's massive consumer market. Ten firms including Facebook Inc., General Atlantic, Silver Lake Partners and KKR & Co. have poured a total $15.2 billion into Jio, pending regulatory clearances, Bloomberg data show. Saudi Arabia's sovereign wealth fund was the latest to invest, according to a statement from Jio on Thursday. The deals have helped Mr Ambani, Asia's richest man, make his flagship Reliance Industries Ltd. net debt free ahead…

18 Jun

Ford to offer hands-free driving in 2021, six years after Tesla

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Ford Motor Co said on Thursday that it will offer hands-free driving on its new Mustang Mach-E fall 2021, six years after Tesla Inc and four years after General Motors Co introduced similar systems. The system, called Active Drive Assist, will be offered on several Ford models, most notably the Mustang Mach-E, an all-electric crossover vehicle that goes on sale later this year and is targeted at the Tesla Model Y arket. Ford said US buyers can order the Mustang Mach-E this fall with the Active Driver Assist hardware package, which includes extra radar sensors and a driver-facing camera, but the software…

18 Jun

All-New 5th Generation Honda City

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Honda City is among the most popular sedans in the country and is synonymous with Honda brand since the company entered Indian market with the launch of 1st generation Honda City. Now, Honda Cars India Limited released the details of its All-New 5th Generation Honda City, ahead of its launch in July 2020. The much awaited All-New Honda City has been conceptualized to carry forward its legacy, deliver supremacy and exceed previous benchmark by offering superior value proposition to its customers. The 5th generation Honda City embodies supremacy in its every detail, ranging from its styling, performance, space, comfort, connectivity…

18 Jun

Fuel prices hit new high, petrol hiked by 53 paise, diesel by 64 paise for 12th consecutive day

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For the 12th consecutive day, state-run oil marketing companies (OMCs) has increased the price of fuel on Thursday. The price of petrol is increased by 53 paise a litre while that of diesel by 64 paise a litre. Petrol and diesel will now cost Rs 77.81/litre and Rs 76.43/litre respectively in Delhi. Notably, oil marketing companies have been adjusting retail rates in line with costs after an 82 day break from rate revision amidst the Covid-19 pandemic. These firms on June 7 restarted revising prices in line with costs.

17 Jun

Almonds to supplement International Yoga Day

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Every year, 21 June is celebrated as International Day of Yoga to generate awareness about the holistic approach to health and well-being. Yoga imbibes the concept of whole health – which includes healthy eating, a peaceful mind and fit body. This International Yoga Day, let us look at the best way to stay fit by practicing yoga but supplementing it with the most important element – a healthy and nutritious diet. Making small yet impactful changes to the diet can go a long way in building overall health and aid in the Yoga routine. Almonds are rich in several nutrients…

17 Jun

Jio-Facebook Deal Under Antitrust Review by Competition Commission of India

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India's antitrust watchdog is reviewing Facebook's purchase of a 10 percent stake in Reliance Industries Ltd's digital assets, a deal that would give the US giant another foothold in one of the world's fastest growing Internet markets. The Competition Commission of India looks to prevent misuse of data in all the deals it assesses, Chairman Ashok Kumar Gupta said in an email interview, declining to comment further on the Facebook-Jio transation panding examination. The regulator is also considering whether new parameters should be included in its assessment criteria; currently some mergers and acquisitions escape the threshold for scrutiny even if potential…

17 Jun

Mercedes-Benz GLS 2020 launched in India

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New Delhi: Luxury car manufacturer Mercedes-Benz launched the GLS 2020 in India on Wednesday. The new Mercedes-Benz GLS 400 d 4MATIC and GLS 450 4MATIC are both priced at Rs 99.90 lakh (all prices are ex-showroom, India, except Kerala), the company said in a statement. The interiors of the new GLS combine the comfort of a Mercedes-Benz luxury saloon with progressive detailing of an SUV. The new GLS has a considerably longer wheelbase over its predecessor (3135 mm, an increase of 60 mm), offering more space (87 mm), especially in the second seat row, which can furthermore be adjusted fore…