Tuesday, March 10

Business

Oriflame to empower 1 million Indian entrepreneurs by 2029
Business

Oriflame to empower 1 million Indian entrepreneurs by 2029

Oriflame, the leading Swedish beauty brand with a global presence, has announced India its being one of the top-priority market. Building on its current success, the premier cosmetic brand aims to on-board 1 million brand partners within the next five years (2029), thereby promoting micro-entrepreneurship and nurturing a dynamic start-up culture across the country. This ambitious target aligns perfectly with India's growth trajectory and the Government of India's emphasis on employment generation and self-reliance. Oriflame fosters an entrepreneurial spirit by empowering individuals to become brand partners, instilling ethical values, and providing flexibility in work schedules. This approach fosters a fulfilling career, prioritizing social and mental well-being, and paving the way for...
Oil progress on strong dollar and strong fuel demand; Brent crude at $85.77/bbl
Business, News

Oil progress on strong dollar and strong fuel demand; Brent crude at $85.77/bbl

Oil prices rose slightly on Monday as strong summer fuel demand and rising geopolitical tensions helped offset the impact of a stronger dollar.Brent futures for August delivery rose 53 cents to $85.77 a barrel, representing a gain of 0.6% by 11:38 a.m. EST (1538 GMT). Meanwhile, US crude futures rose 65 cents to $81.38 a barrel, representing a gain of 0.8%. Last week, both benchmarks recorded a 3% rise, their second consecutive weekly rise.“Crude oil prices witnessed significant volatility and declined from recent highs due to dollar index strength and mixed global economic data. The dollar index hit its highest level in nearly two months as hawkish comments from the Federal Reserve and mixed US economic data limited gains in oil prices. However, decline in US crude oil inventories last w...
India’s CAD decrease to 0.7% of GDP, records surplus of 0.6% in Q4: RBI
Business, News

India’s CAD decrease to 0.7% of GDP, records surplus of 0.6% in Q4: RBI

India recorded a current account surplus in the last quarter of the last financial year due to higher service income. Additionally, the Reserve Bank of India (RBI) on Monday said the overall current account deficit for FY2024 has narrowed due to decline in goods trade deficit. India's current account deficit (CAD) declined to 0.7 per cent of GDP or $23.2 billion in FY2024 from 2 per cent of GDP or $67 billion last year. “Sequential decline in CAD in Q4:2022-23 mainly due to narrowing in trade deficit with stronger services trade from US$71.3 billion in Q4:2022-23 to US$52.6 billion in Q4:2022-23 Went. Exports the bank said in a release. There was a net inflow of foreign portfolio investment of $44.1 billion in FY2024, following a net outflow of $5.2 billion in FY2023. In contrast...
Manufacturing PMI increment to 60.9 in June, job creation fastest in 18 years: Survey
Business, News

Manufacturing PMI increment to 60.9 in June, job creation fastest in 18 years: Survey

According to the HSBC survey, the final manufacturing, services and composite purchasing managers' index (PMI) figure rose 0.4 percentage points to 60.9 in June, compared with a revised figure of 60.5 in May.According to a survey, business activity in the country became stronger in June due to growth in manufacturing and services sectors and the pace of job creation became the fastest in 18 years.“The composite output index expansion further in June, supported by an grow in new orders, which led companies to rise hiring in both sectors. Input prices softened slightly in June, resulting in margin improvement, especially for manufacturing companies,” the survey said.It said that while strong demand conditions are keeping business activity high, the outlook for future activity has deteriorat...
Hyundai Launches New ‘I Choose Hyundai’ Campaign in India
Business

Hyundai Launches New ‘I Choose Hyundai’ Campaign in India

Hyundai Motor India recently launched its new brand campaign titled 'I Choose Hyundai'. This comprehensive campaign focuses on Hyundai's wide range of products, popular among people across India, with the theme #IndiaDriveHyundai. The 'I Choose Hyundai' campaign shows why Indian customers prefer Hyundai, emphasizing the variety of models, transmissions, features, and fuel options available. To connect easily with regional audiences, the TV ads are available in six regional languages: Marathi, Bengali, Telugu, Kannada, Malayalam and Tamil ensuring a strong and enduring impact across different regions. Speaking about the campaign, Mr. Tarun Garg, COO, Hyundai Motor India Limited, said: "Our latest campaign, 'I Choose Hyundai', exemplifies HMIL's unwavering commitment to curating innov...
Vodafone Idea shares progress more than 4%, up 26% in a month; What’s driving the rally here
Business, News

Vodafone Idea shares progress more than 4%, up 26% in a month; What’s driving the rally here

Shares of Vodafone Idea rose 3.51 percent after the telecom service provider reported it met its 5G rollout obligations across all circles. The company has 5G spectrum in 17 circles and has met the rollout needs for both spectrum bands.According to CNBC Awaaz, Vodafone Idea has completed network testing in both spectrum bands conducted by the Department of Telecommunications and has fulfilled its rollout obligations, incurring a fine of around ₹1 crore.In particular, it is mandatory to meet rollout obligations as per the license terms. Failure to complete the rollout on time could have resulted in action against the company, potentially leading to cancellation of Vodafone Idea's 5G spectrum. The company faced a time limit of August 15, 2024.Earlier this week, Vodafone announced the sale o...
Navigating Health and Choice: India’s Evolving Strategy on Tobacco Control
Business

Navigating Health and Choice: India’s Evolving Strategy on Tobacco Control

India faces a significant burden of disease, with a significant percentage of deaths due to non-communicable diseases like heart disease, stroke, cancer, and diabetes. NCDs are largely preventable through healthy lifestyle choices, such as eating a healthy diet, getting regular exercise, and not smoking, or at least adopting responsible smoking choices. Nirupama Soundararajan and Arindam Goswami, in a recent article, put light on balancing health and choices. Nirupama and Arindam are both Partners at Policy Consensus Centre and are authors of the report “Re-evaluating the Ban on Alternatives to Conventional Smoking Tobacco Products”. India has implemented policies to promote a tobacco-free country, aiming to improve public health and reduce tobacco harm. However, it cannot achieve comp...
Randeep Hooda and Blackberrys launch heartwarming Father’s Day campaign
Business

Randeep Hooda and Blackberrys launch heartwarming Father’s Day campaign

In a tribute to fathers everywhere, leading menswear brand Blackberrys has teamed up with acclaimed actor Randeep Hooda for a new Father’s Day campaign. Known as India’s 'fit expert' for over three decades, Blackberrys celebrates dads who inspire their children to #KeepRising through life's ups and downs. The campaign features a touching film where Randeep Hooda and his father, Ranbir Hooda, share a candid conversation about the pivotal role Mr. Hooda played in his son's successful acting career. Despite coming from a non-filmy background, Mr. Hooda’s unwavering support and encouragement were instrumental in Randeep's rise to stardom. Dressed in impeccably tailored Blackberrys attire, the duo embodies the brand’s commitment to quality and style."My father has always been my pillar of s...
Uber Green electric vehicles launched in Kolkata
Business

Uber Green electric vehicles launched in Kolkata

Uber on Thursday(20th June 2024) announced the launch of its flagship electric vehicle service, Uber Green, in Kolkata, marking a step towards eco-friendly urban transportation. Now, Uber stands as the second ride-hailing service provider to offer EVs in the city, following Snap E, another brand operating with an all-EV fleet. "Enhancing the air quality in Kolkata is a shared duty we all must embrace. I commend Uber for introducing 'Uber Green' in Calcutta, a significant step towards reducing carbon emissions in our city," West Bengal Transport Minister Snehasis Chakraborty said. "This service allows residents to book zero-emission rides with ease through the Uber app, promoting sustainable travel across the city, including routes to and from Kolkata international airport," Uber ...
SBI to upgrade ₹20,000 crore through long-term bonds in FY2025
Business, News

SBI to upgrade ₹20,000 crore through long-term bonds in FY2025

State Bank of India (SBI) announced board approval to raise up to ₹20,000 crore through long-term bonds in FY 2024-25. The central board meeting on June 19, 2024, approved raising funds through public issue or private placement.At the time of writing, SBI shares are trading at ₹846.65 which is 0.70% lower than its previous close. The stock has seen a total rise of 49% in the past year and 32% since the beginning of the year.In January, SBI raised ₹5,000 crore through perpetual bonds at a coupon rate of 8.34%. In the last financial year, SBI had issued 15-year infrastructure bonds to raise ₹20,000 crore.Earlier this month, SBI's London branch raised $100 million through three-year senior unsecured floating-rate bonds priced 95 basis points above the secured overnight financing rate (SOFR)....