Business News Northeast - Latest Business Northeast News & Updates

17 Jul

KFC India pledges Covid-relief and support

editor0 CommentsBusiness‘KFC Care’ campaign, KFC

KFC India strengthens its efforts to provide support to team members and communities in need through the ongoing Covid wave. As part of its ‘KFC Care’ campaign, the brand has undertaken various relief initiatives. Supported by the Yum! Foundation, KFC Care pledges to provide medical supplies & essentials to hospitals, food relief kits and home care Covid kits to underprivileged families. To safeguard the safety and well-being of its team members, the brand has extended a Vaccination Drive for its team members across 480+ KFC restaurants in the country. In association with partners as Response Net and Smile Foundation, KFC…

17 Jul

Amazon launches Spotlight North East storefront

editor0 CommentsBusinessAmazon India, Amazon Smbhav, Spotlight North East storefront

Amazon India launched the Spotlight North East storefront on its marketplace. This storefront will bring together a range of unique local products and hidden gems from the region and showcase them to millions of Amazon customers across India. Inaugurated in a virtual event by Dr Jitendra Singh, Minister of State in the Prime Minister’s Office, the storefront launch comes close on the heels of the announcement of the Spotlight North East program at Amazon Smbhav in April 2021. The North-East Indian region is known for its unique GI products. Amazon will enable participation of artisans and weavers from the region…

16 Jul

Indian economy to witness substantial slack in FY22

editor0 CommentsBusiness, Indiaeconomy

Reserve Bank of India (RBI) has said that there will be “substantial slack” in growth for the Indian economy, although it is poised to recover and witness positive growth in the current fiscal. The RBI Bulletin for July 2021 noted that the economy is struggling to regain the momentum of recovery that had started in the second half of 2020-21 but was interrupted by the second wave of Covid. “Even with a 9.5 per cent GDP growth in 2021-22, there will be substantial slack in the economy and demand pressures may take some more time to become evident,” it said.…

16 Jul

No fuel price hike on Friday

editor0 CommentsBusiness, IndiaFuel

Oil marketing companies kept the retail price of petrol and diesel unchanged on Friday to analyse the global oil price movement before making further revisions. Accordingly, petrol continues to be priced at Rs 101.54 a litre and diesel 89.87 a litre in the national capital. Across the country as well the fuel prices remained unchanged on Friday but the rates varied depending on the level of local taxes in states. Starting from a price line of Rs 90.40 a litre on May 1, petrol is now priced at Rs 101.54 a litre in the national capital, rising by a sharp…

15 Jul

Taapsee Pannu announces her first home production film ‘Blur’

editor0 CommentsBusinessBollywood

Taapsee announced her production house's debut film Blur and released its motion poster.Taapsee Pannu, has been garnering praises as well as backlash for her film Haseen Dilruba, which released on Netflix. On Thursday she made a big announcement that she has turned producer and started her own film production company, Outsiders Films. The film will be directed by Ajay Bhal, who is known for his film 'Section 375' which was highly appreciated by the audience. BLUR is jointly written by Pawan Soni and Ajay Bhal. The poster of the film has generated keen interest among the audience. Apart from her…

15 Jul

Mastercard ban: RBL Bank’s credit card issuance to take hit, switches to Visa

editor0 CommentsBusiness, IndiaBANKS, Business

RBL Bank said that its credit card issuance rate will be impacted post the Reserve Bank barring Mastercard Asia Pacific from onboarding new credit, debit and prepaid card customers with effect from July 22. RBL Bank, which currently issues credit cards on the Mastercard network only, said it has entered into an agreement with Visa Worldwide on Wednesday to issue credit cards enabled on the Visa payment network. The bank expects to start issuing credit cards on the Visa payment network post the technology integration, which is expected to take 8 to 10 weeks. “Our bank’s current run rate of…

15 Jul

L&T Tech Services shares zoom over 17 pc after Q1 earnings

editor0 CommentsBusiness, IndiaBusiness, L&T

Shares of L&T Technology Services (LTTS) on Thursday zoomed over 17 per cent after the company reported a massive jump in its June quarter net. At 1.54 pm, LTTS stock zoomed 17.72 per cent to Rs 3,426, with its 52-week high of 3447.35 at the BSE. L&T Technology Services on Wednesday reported an 84 per cent jump in its June quarter net at Rs 216.2 crore, largely on widening margins. The company, the engineering and research and development services arm of the infra major L&T, had posted a net profit of Rs 117.2 crore in the year-ago period. Its overall…

14 Jul

Adani Group in-charge of management Mumbai Int’l Airport after clearance from CIDCO, GoM

editor0 CommentsBusiness, IndiaIndianBusiness

The Adani Airport Holdings Ltd (AAHL) has taken over the management control of Mumbai International Airport Limited (MIAL), India’s second busiest airport by both passenger and cargo traffic, from the GVK Group following a board meeting of MIAL held on Tuesday, as per a statement issued by its parent company Adani Enterprises Limited. This new move is in line with approvals were received from the Government of India, the City and Industrial Development Corporation (CIDCO) of Maharashtra, and the Government of Maharashtra. MIAL is India’s second busiest airport both in terms of passenger and cargo traffic. With eight airports under…

14 Jul

No fuel price hike for 2nd day in a row

editor0 CommentsBusiness, IndiaFuel, IndianBusiness

The oil marketing companies kept the retail price of petrol and diesel unchanged on Wednesday, the second consecutive day of no change, to analyse the global oil price movement before making further revisions. After crossing $77 a barrel, global crude prices have softened a bit with differences surfacing in oil cartel OPEC over continuation of production cuts and demand concerns over rising Covid cases in several European countries. With price pause on Wednesday, petrol continues to be priced at Rs 101.19 a litre and diesel at 89.72 a litre in the national capital. On Monday, oil companies had raised the…

13 Jul

Power demand in India expected to grow 6 pc in FY22: Icra

editor0 CommentsBusiness, IndiaICRA, IndianBusiness

Demand for electricity in India is expected to grow 6 per cent in 2021-22 as compared to the previous fiscal year, rating agency Icra said on Tuesday. It has also estimated power generation capacity addition at 17- 18 GW for the ongoing fiscal year. “ICRA Ratings has estimated the all India electricity demand growth at 6.0 per cent for FY2022 on a year-on-year (YoY) basis, considering the favourable base effect, relatively lesser impact of the second wave on electricity demand and the pick-up in the vaccination programme,” an Icra statement said. The electricity demand slowed down during the first two…