Business News Northeast - Latest Business Northeast News & Updates

17 May

Moglix: Valuation jumps to $1 Billion

editor0 CommentsBusinessB2B commerce platform, manufacturing company, Moglix

Moglix is said to be valued at $1 billion in its latest $120 million Series E funding round. The company has reached an important milestone by becoming the first industrial B2B commerce platform, in the manufacturing space, to become a unicorn. The latest investment was led by Falcon Edge Capital and Harvard Management Company (HMC). This round of funding also saw participation from its existing investors, Tiger Global, Sequoia Capital India and Venture Highway. Moglix also has an award-winning suite of software products for contract management and B2B Commerce. Global FMCG giant Unilever uses the platform for ~$30 billion of…

17 May

Mahindra’s M-Protect Covid plan for farmers

editor0 CommentsBusiness, HealthM-Protect Covid plan, mahindra

Mahindra & Mahindra’s Farm Equipment Sector, a part of the USD 19.4 billion Mahindra Group has rolled out ‘M–Protect Covid Plan’, a new customer centric initiative committed to support Indian farmers in these testing times. Mahindra’s M-Protect Covid Plan aims to safeguard new Mahindra tractor customers and their families against the eventuality of contracting COVID-19. Under the M–Protect Covid Plan, Mahindra will provide customers – (1) A health cover of Rs 1-lakh through a unique COVID Mediclaim policy, (2) Financial support by providing pre-approved loans to support medical expenses incurred during COVID-19 treatment and (3) Insurance of customers’ loan under…

15 May

Dhani starts distribution of free Covid Care medicines

editor0 CommentsHealth, BusinessDhani app, Health kit, medicine

Dhani app has started distribution of 25-Lakh free Covid Care health kits worth Rs. 90-crore that will benefit 50-Lakh adults. Each COVID Care Health kit has preventive medicines for 2 persons. Dhani is a digital app based business of healthcare by the Indiabulls Group. This kit has been packaged as per the recommendation by the Ministry of Health & Family Welfare and will be helpful in the initial preventive care of Covid 19. The kit consists of a monthly course of medicines that help boost one's immunity through Vitamin C, Vitamin D3, Zinc and Paracetamol in case of fever or…

14 May

TKM sales increases by customer-first initiatives

editor0 CommentsBusiness, North EastNortheast Region, Toyota Kirloskar Motor

In accordance with its customer-first philosophy, Toyota Kirloskar Motor (TKM) has been rolling out measures to enhance the experience at every stage of the customer lifecycle from pre-sales to after-sales. To provide easy access to its world-class products, TKM had unveiled its first regional stockyard in the country in Guwahati, Assam last October. Besides fostering an efficient distribution network across the northeast, the stockyard is helping reduce delivery time of not more than two days even for the farthest dealers in the Northeast states thereby delighting our customers. TKM revealed that its initiatives to enhance customer experience have increased sales…

13 May

Here’s how Chocolate can be getting more Expensive in the coming days

editor0 CommentsBusiness, Health

The meteoric rise in palm oil prices is poised to inflate costs for everyone from restaurants to confectionery and cosmetic manufacturers, and could potentially change consumption patterns. The world’s most consumed edible oil has surged more than 120% in the past year and burst through 4,500 ringgit ($1,091) a ton to a record on Wednesday. The tropical oil, which is found in products as diverse as chocolate, pastries, soaps, lipstick and biofuel, and is widely used in Asian restaurants, has been swept up in the global commodity rally as farm crops soar on weather worries and China’s crop-buying spree. Palm…

12 May

Prime Minister Modi will not travel to the UK to attend the G-7 summit

editor0 CommentsBusinessconference, Covid 19, G-7 summit, International, MODI

Prime Minister Narendra Modi will not travel to the UK to attend the G-7 summit in June due to the coronavirus situation in the country. The Prime Minister was slated to be a special invitee to the summit in Cornwall at UK Prime Minister Boris Johnson's invitation. The summit was scheduled for June 11-13. "While appreciating the invitation to the Prime Minister by UK Prime Minister Boris Johnson to attend the G7 Summit as a Special Invitee, given the prevailing COVID situation, it has been decided that the Prime Minister will not attend the G-7 Summit in person," said a…

11 May

Elon Musk’s SpaceX has announced a new space mission ‘Doge-1’

editor0 CommentsBusiness, Technologycryptocurrency, dige-1, dogecoin, elon mask, satellite

SpaceX will launch the “Doge-1 Mission to the moon” in the first quarter of nest year, with Elon Musk’s commercial rocket company. The Tesla chief is actually sending Dogecoin to the moon, though on April 1 Elon Mask had tweeted- SpaceX is going to put a literal Dogecoin on the literal moon but no one would have expected the same. Mask tweeted that the company’s new satellite will be called Doge-1 not just this, in an unprecedented move, the entire mission will be paid for in Dogecoin. This will make Doge the the first crypto in space. Geometric Energy Corporation…

10 May

Nivesh to increase penetration of financial products

editor0 CommentsBusinessfinancial products, Fintech startup, IAN Fund, Nivesh.com

Nivesh.com, a fintech startup has raised $1.6 Million led by IAN Fund. The round also saw participation from other co-investors including angel investors from Indian Angel Network, LV Angel Fund as well as other angel investors. In 2020, Nivesh was listed in WealthTech100, which is an annual list of top 100 of the world’s most innovative WealthTech companies selected by a panel of industry experts and analysts. The company has previously been funded by LV Angel Fund, Next Billion Fund managed by Windrose Capital, and marquee angel investors such as Vivek Khare, Basab Pradhan, Rahul Gupta and Sandeep Shroff. Nivesh…

10 May

Bandhan Bank’s net profit stands at Rs. 2,205-cr

editor0 CommentsBusinessBandhan Bank, FY2020-21

Bandhan Bank’s total business (deposits and advances) grew 28% year-on-year to reach Rs.1.65 lakh crore at the end of FY2020-21. It was revealed by the Bank in its financial results for the quarter and financial year ended March 31, 2021. The Bank’s net profit for the quarter ended March 31, 2021 stood at Rs. 103-crores. For the full financial year 2020-21, net profit stood at Rs. 2,205-crore. The Bank serves 2.37-crore customers through 1,149 branches and 5,371 banking outlets (as on April 30, 2021). The total number of employees working at Bandhan Bank stands at 49,445 as on March 31,…

07 May

New research shows how China’s emission tops all other countries

editor0 CommentsBusinessChina, pollution, world

China emits more greenhouse gas than the entire developed world combined, a new report has claimed. The research by Rhodium Group says China emitted 27% of the world's greenhouse gases in 2019. The US was the second-largest emitter at 11% while India was third with 6.6% of emissions, the think tank said. Scientists warn that without an agreement between the US and China it will be hard to avert dangerous climate change. China's emissions more than tripled over the previous three decades, the report from the US-based Rhodium Group added. The Asian giant has the world's largest population, so its…