Page 629 - Industry News

Life insurers' premium income rises nearly 13% to Rs 7.83 trillion in FY23

Renewal premium continues to contribute the majority of total premiums underwritten by life insurers at 52.56 per cent in 2022-23. The rest 47.44 per cent is contributed by the new business premiu

Dense fog disrupts ops at Delhi airport, four flights diverted to Jaipur

According to flightradar24.com, approximately 130 flights were delayed at the airport between 6 am to 12:30 pm

IHG Hotels & resorts focused on bringing more luxury offerings to India

The company's market share grew by 1.2%, biz surpassed pre-Covid levels

Potential bidders set to get three chances in offshore mineral auction

The Ministry of Mines, has also restricted the bid security for 'Production Lease' to Rs 10 crore, contrasting with the Rs 50 crore limit for onshore auctions

Rising input costs, lower price realisation in 2023 trouble tea industry

The year witnessed the tea industry facing an uncertain future, plagued by rising input costs and lower price realisation at auctions, making operations unviable

Another drug from hospitals found to be of sub-standard quality: Delhi LG

According to officials, another drug sample taken from Delhi government hospitals was failed by the RDTL, or Regional Drug Testing Laboratory, in Chandigarh

Inflows from PE, VC funds to domestic companies plunge to $27.9 bn in 2023

Industry watchers, however, said green shoots of more funding is very much visible in the coming year

Intel partners with Israel to invest $25 bn in new manufacturing facility

The new factory is expected to begin operating in 2028. Intel will operate it at least till 2035

India's housing market to continue with high demand, growth in 2024

India's housing market defied logic this year to register all-time high sales as home buyers snapped up deals despite a jump in asking prices and the highest interest rates in six years

EKA Mobility to partner with Mitsui, VDL; plans joint investment Rs 850 cr

EKA Mobility Founder & Chairman Sudhir Mehta said, this partnership represents a significant step toward making India a global hub for electric vehicle manufacturing

Decks clear for house registry, stuck projects in Noida, Greater Noida

The decision will impact around 190 group housing projects across Noida and Greater Noida where developers are yet to clear dues amounting to around Rs 32,000 crore

Electronics exports propelled by mobile show sharpest surge in top 10 club

Electronics exports up from sixth to fifth position this financial year

PLI schemes attracted over Rs 95,000 cr investment till Sep 2023: Centre

According to the Commerce and Industry Ministry, as many as 746 applications have been approved till November 2023 under these schemes

Godrej Properties sells more than 600 flats for Rs 2,600 cr in Gurugram

During April-September 2023-24, Godrej Properties achieved 48 per cent growth in its sales booking to Rs 7,288 crore as against Rs 4,929 crore in the year-ago period

Eight out of ten fliers faced issues with Indian airlines, says survey

Major challenges identified include issues with in-flight services, boarding, check-in, baggage procedures, and poor aircraft interiors, including seats

Indian poultry industry revenues to grow by 8-10% in FY24, says report

The revenue growth expectations of the domestic poultry industry are likely to be at 8-10 per cent in FY24, which will be led by significant volume expansion and improving share of organised players

Gross leasing of office space up 12% this year across 6 cities: Savills

"Mumbai saw record leasing activity at 10.1 million square feet owing to large transactions by tech and consulting occupiers," Savills said

Oil extended gains as investors eye Middle East tensions, US rate cut

While hopes of rate cuts and conflict in the Red Sea have led to a rebound in crude prices, Maersk's announcement of a restart of shipping routes through the waterway has alleviated supply concerns

India, Oman free trade agreement likely to be inked next month: Official

Officials of the two countries concluded the second round of talks for the pact, officially dubbed as Comprehensive Economic Partnership Agreement (CEPA) earlier this month in Muscat

Payment woes delay supply of Russian Sokol oil crude to India: Report

IOC is the only state refiner that has an annual deal to buy a variety of Russian grades, including Sokol, from Russian oil major Rosneft. Sokol oil is supplied to IOC by Sakhalin-1 LLC