Page 884 - Company News
LIC world's strongest insurance brand: Brand Finance Insurance Report
According to the report, Cathay Life Insurance is the second strongest brand, with a 9 per cent increase in brand value to $4.9 billion
 "LIC world's strongest insurance brand: Brand Finance Insurance Report")
Veeda Clinical Research buys European CRO Heads for an undisclosed sum
Veeda expands its footprint across major regions and will gain expertise in late-stage oncology trials
 "Veeda Clinical Research buys European CRO Heads for an undisclosed sum")
Starburst Accelerator, IIT Madras join hands for €100 million startup hub
This partnership will enable export promotion and provide support for Indian ASD start-ups to explore international markets through the extensive network of Starburst
 "Starburst Accelerator, IIT Madras join hands for €100 million startup hub")
Squarefeet Group to invest Rs 300 cr on new housing project in Mumbai
The company plans to develop about 1,000 flats in this 3-acre project named 'Yuva Rajya' and is targeting a revenue of Rs 750 crore over the next 4-5 years
 "Squarefeet Group to invest Rs 300 cr on new housing project in Mumbai")
PE firm Olympus to sell 9.8% stake in India's Aster DM for up to $234.5 mn
Olympus Capital, which owns about 19% stake in the hospital chain, is planning the sale at 400-437.20 rupees per share
 "PE firm Olympus to sell 9.8% stake in India's Aster DM for up to $234.5 mn")
YouTube removes 2.25 mn videos in India over rules, most for any country
96% of videos removed worldwide between Oct and Dec were first flagged by machines, says company
 "YouTube removes 2.25 mn videos in India over rules, most for any country")
Amazon invested $1.2 bn, hired 15,000 people in 2023 to tackle counterfeit
Amazon said when a customer purchases from the store, they trust they will receive an authentic product
 "Amazon invested $1.2 bn, hired 15,000 people in 2023 to tackle counterfeit")
ZEE introduces monthly management mentorship programme to meet key metrics
A special committee has been formed to offer strategic guidance, which includes achieving the targeted 20% Ebitda margin set forth by the MD & CEO
 "ZEE introduces monthly management mentorship programme to meet key metrics")
Daimler India CV posts record sales in 2023 boosting growth in revenue
The Indian subsidiary of Germany-based Daimler Truck posted a 13 per cent growth in cumulative sales in 2023 backed by strong product demand, thereby boosting a surge in revenues, the official said
 "Daimler India CV posts record sales in 2023 boosting growth in revenue")
Nissan Motor plans to launch three all-new models in India by FY26
Under the new plan, which is split into mid-term imperatives for fiscal years 2024 through 2026, and mid-long-term actions to be carried out through 2030
 "Nissan Motor plans to launch three all-new models in India by FY26")
Ambit Finvest raises Rs 690 crore from Daiwa Securities, existing investors
Japan-based Daiwa Securities Group, which has been a partner for Ambit Group in other businesses, will get a minority stake for its Rs 415-crore investment, a statement said
 "Ambit Finvest raises Rs 690 crore from Daiwa Securities, existing investors")
Executives plan to invest more in GenAI for sustainability: IBM study
While 63 per cent of executives surveyed agree that GenAI will be important for their sustainability efforts, 76 per cent say they plan to increase their investment in generative AI for sustainability
 "Executives plan to invest more in GenAI for sustainability: IBM study")
Tejas Networks, Telecom Egypt sign pact to speed-up vision of Digital Egypt
The agreement aims to accelerate the vision of Digital Egypt, upskill Egyptian engineers and technicians, establish local manufacturing and R&D facilities
 "Tejas Networks, Telecom Egypt sign pact to speed-up vision of Digital Egypt")
SpiceJet to own 13 Bombardier Q400 planes after $91 mn settlement
SpiceJet has over the last few months reached settlements with multiple lessors, including Aercap, as the company looks to restore its grounded fleet and return to full capacity
 "SpiceJet to own 13 Bombardier Q400 planes after $91 mn settlement")
Zerodha's Nikhil Kamath leads $10 mn round in coffee specialty brand Subko
Subko, a brand known for its premium coffee, baked goods, and bean-to-bar chocolate, has secured a significant investment round of $10 million
 "Zerodha's Nikhil Kamath leads $10 mn round in coffee specialty brand Subko")
GAIL plans to commission its first green hydrogen project in April
"Once the initial hiccups are sorted at the commissioning stage, we expect to start producing in a month's time," one of the sources said
 "GAIL plans to commission its first green hydrogen project in April")
Wipro GE Healthcare to invest Rs 8K cr in 5 yrs on medical devices, R&D
GE HealthCare President and CEO Peter J Arduini said India is a high potential, high priority market for GE HealthCare globally
 "Wipro GE Healthcare to invest Rs 8K cr in 5 yrs on medical devices, R&D")
Axis Bank introduces digital opening of US dollar FDs for NRIs at GIFT City
Axis Bank on Tuesday announced the introduction of digital US dollar fixed deposit (FD) for NRI customers at the IFSC Banking Unit (IBU) at GIFT City, Gujarat
 "Axis Bank introduces digital opening of US dollar FDs for NRIs at GIFT City")
Adani's stake purchase in Gopalpur Port to provide debt relief to SP Group
Adani Ports agreed to purchase a 95% stake in the port for 13.5 billion rupees ($162 million) from Shapoorji and Orissa Stevedores Ltd
 "Adani's stake purchase in Gopalpur Port to provide debt relief to SP Group")
Adani group eyes 45 GW renewable energy capacity by 2030 via solar power
'As the world's leading solar power developer and India's largest renewable energy company, we are taking very big steps,' says Gautam Adani
 "Adani group eyes 45 GW renewable energy capacity by 2030 via solar power")