Business News

ITC to acquire 16% stake in D2C ayurvedic personal care brand Mother Sparsh

ITC to acquire 16% stake in D2C ayurvedic personal care brand Mother Sparsh

New Delhi: Conglomerate ITC will acquire 16 per cent share capital of baby and mother care products brand Mother Sparsh, on a fully diluted basis.Mother Sparsh specialises in premium ayurvedic and natural personal care brands in the D2C (direct to consumer) space. It has a wide range of baby and mot...

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LG names new CEO to tap new biz opportunities

LG names new CEO to tap new biz opportunities

Seoul: LG Electronics said on Thursday it promoted its chief strategy officer to its new CEO to nurture new business opportunities and focus on digital transformation.The company said its current Chief Strategy Officer Cho Joo-wan will assume the top post of the tech company, effective from December...

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Sustainable demand to increase frequencies from India: SriLankan Airlines

Sustainable demand to increase frequencies from India: SriLankan Airlines

New Delhi: Healthy passenger flow from India as well as reduced Covid restrictions will lead to more flights between India and Sri Lanka, said airline major SriLankan Airlines.The airline is looking at servicing around 5 million Indian tourists to the island nation in the next 3 years or more, and p...

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Royal Enfield starts local assembly unit ops in Thailand

Royal Enfield starts local assembly unit ops in Thailand

New Delhi: Mid-size motorcycle major Royal Enfield has commenced operations of its local assembly unit and CKD facility in Thailand.As per the company, the unit has been set up in partnership with GPX."With this, the company now has three local CKD (completely knocked down) units - in Argentina, and...

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RIL to restructure, repurpose gasification assets

RIL to restructure, repurpose gasification assets

Mumbai: Reliance Industries Ltd's Board on Wednesday decided to implement a 'Scheme of Arrangement' to transfer the 'Gasification' undertaking into a wholly-owned subsidiary (WOS)."RIL targets to have a portfolio which is fully re-cyclable, sustainable and net carbon zero. This will be achieved by t...

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DLF's rental arm raises NCDs worth Rs 1,000 cr

DLF's rental arm raises NCDs worth Rs 1,000 cr

New Delhi: The rental arm of real estate developer DLF -- DLF Cyber City Developers -- on Monday raised Rs 1,000 crore through private placement of listed, secured and redeemable non-convertible debentures (NCDs).The NCDs were placed with a 6.7 per cent annual fixed coupon rate (approx 6.5 per cent ...

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UST to double its headcount to 12K in Bengaluru by 2023

UST to double its headcount to 12K in Bengaluru by 2023

Bengaluru: Leading digital transformation solutions provider UST on Tuesday said it aims to double the headcount at its Bengaluru centre from 6,000 to 12,000 in the next two years.The company said it has already added over 2,000 employees since February 2020 in the post-pandemic times.In the next 18...

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Maruti Suzuki Toyotsu starts vehicle scrapping unit

Maruti Suzuki Toyotsu starts vehicle scrapping unit

New Delhi: Maruti Suzuki Toyotsu India (MSTI) on Tuesday commenced the operations of its 'End-of-Life Vehicles' (ELVs) scrapping and recycling unit.Notably, the facility was inaugurated by Union Minister of Road Transport and Highways Nitin Gadkari on Tuesday.The 10,993 sq. m. facility has a capacit...

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Global smartphone sales to end users down 6.8% in Q3: Gartner

Global smartphone sales to end users down 6.8% in Q3: Gartner

New Delhi: Hit by component shortages, global smartphone sales to end-users declined 6.8 per cent in the third quarter of 2021, compared to the same time period in 2020, a Gartner report said on Tuesday.Component shortages disrupted production schedules, leading to lower inventory and delayed produc...

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Semiconductor supply improving; waiting periods coming down, says Maruti Suzuki

Semiconductor supply improving; waiting periods coming down, says Maruti Suzuki

New Delhi: The availability of semiconductors has slowly-but-surely improved which has allowed for greater production as well as reduced waiting periods for some car models, automobile major Maruti Suzuki India said.The global shortage has been triggered by the Covid-19 pandemic-induced supply hurdl...

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