Business

07 Apr

Nasher Miles names Rishabh Pant as its brand ambassador

Priyanka BhowmickBusiness, IndiaBusiness, india

Luggage brand Nasher Miles has roped on cricketer Rishabh Pant as their brand ambassador. As part of the association, the brand plans to run digital ads featuring cricketers. Lokesh Daga, founder, and CEO of Nasher Miles said, “Cricket in India spans all age groups, categories and geographies and Pant is a well-known Indian wicketkeeper-batsman. Considering this, we chose Pant as the face of our brand. “I am extremely excited to be the face of Nash Miles, and I completely resonate with the brand's motto of making the travel experience more fun, efficient and memorable through its wide range of affordable…

06 Apr

L’oreal buys Australian brand Aesop from Natura in $2.5-billion

Priyanka BhowmickBusiness, IndiaBusiness, india

French cosmetics group L'Oréal has entered into an agreement with Brazil's Natura & Co to buy the Australian luxury brand at an enterprise price of $2.53 billion, both companies said on Monday. According to a statement, the Aesop brand will have sales of $537 million in 2022. "Aesop taps into all of today's booming currents and L'Oreal will contribute to unlocking its huge growth potential, particularly in China and travel retail," L'Oreal CEO Nicolas Hieronymus said in the statement. The L'Oréal Luxe division, which includes L'Oreal, was the group's top performer for the second consecutive year in 2022, with sales…

06 Apr

Odisha gets investment intent worth Rs 26,000 crore at business meet in Tokyo

Priyanka BhowmickBusiness, IndiaBusiness, india

The Odisha government received an investment target of Rs 26,000 crore during the Odisha business meet held in Tokyo on Wednesday. Chief Minister Naveen Patnaik has tied up with some leading Japanese investors across the sector to attract foreign investment. The intentions were received from sectors such as logistics, metal accessories, steel, metal downstream, green hydrogen and green ammonia, green energy equipment manufacturing, IT and IT-enabled services, an official statement said. Details of the company, which has expressed interest in investing in Odisha, were not shared. Addressing over 200 investors in Japan, Patnaik said Odisha is one of the fastest-growing…

31 Mar

Alibaba considers yielding control of some businesses in overhaul

Priyanka BhowmickBusiness, BUSINESSBusiness

Splitting Alibaba Group into separate companies will allow its business units to be more agile and eventually list on their own, the tech giant's chief executive, Daniel Zhang, said on Thursday. Zhang's comments came two days after Alibaba announced its largest restructuring in the company's history, which will change it to a holding company structure with six business units, each with its own board and CEO. "Alibaba will be more in the nature of an asset and capital operator than a business operator related to business group companies," he told investors in a conference call. The business units will have…

27 Mar

Air India To Soon Receive Its First-Ever Airbus A321neo Aircraft

Priyanka BhowmickBusiness, IndiaBusiness, india

Tata Group-owned Air India has received their first Airbus 321 Neo. The aircraft, registered by the name VT-RTD, took off from Germany's Hamburg for Indira Gandhi International Airport in New Delhi on Saturday. https://twitter.com/airindiain/status/1639914152025288704?s=20 "#FlyAI: We're thrilled to welcome our Airbus A321 Neo (VT-RTD). We look forward to welcoming you onboard!," Air India said on Twitter. For the first time, Air India has taken delivery of a single-aisle aircraft after its acquisition by the Tata Group

24 Mar

Adani Power sells Support Properties stake to AdaniConnex

Priyanka BhowmickBusinessBusiness

Adani Power on Thursday said it has sold 100 per cent stake in Support Properties Private Ltd (SPPL) to AdaniConnex Private Limited (ACX) for an enterprise value of Rs 1,556.5 crore. "The parties to the proposed transaction (for which a binding memorandum of understanding was earlier signed) have executed a share purchase agreement and completed the transaction," the BSE filing said. Adani Power signed a Memorandum of Understanding (MoU) to AdaniNex Private Limited (ACX) to sell 100 percent equity shares of its wholly-owned subsidiary Support Properties Pvt Ltd (SPPL) in early November last year.

22 Mar

Snapdeal starts taking orders on ONDC

Priyanka BhowmickBusiness, IndiaBusiness, india

Bengaluru-based e-commerce company Snapdeal on Tuesday announced that it has started accepting orders through Open Network for Digital Commerce (ONDC). The Kunal Bahl-co-founded company went live earlier this month and has so far received orders from various parts of the country including Ajmer, Gurdaspur, Kakinada, Amravati, Aligarh, and Indore. The top product categories that gained the most traction were home and kitchen products including bed linen, towels, tableware, storage and serving sets, and kitchen appliances. Commenting on this development, Snapdeal Marketplace CEO Himanshu Chakrabarti said, “As we go live at ONDC, we want to reiterate our belief that enabling India's…

21 Mar

India, Japan sign fourth tranche of loan for bullet train

Priyanka BhowmickBUSINESS, IndiaBusiness, india

India and Japan on Monday signed two documents in Japan renewing the memorandum of cooperation and exchange of notes on the 300 billion Japan International Cooperation Agency (JICA) loan for the Mumbai-Ahmedabad bullet train. At a special briefing by Foreign Secretary Vinay Kwatra on Japanese Prime Minister Fumio Kishida's visit to India, he said, "Two documents were signed on the side- the renewal of the MOC (Memorandum of Cooperation) in Japanese, mainly focusing on higher. level language education and the second agreement was the Mumbai-Ahmedabad high - 300 billion note exchange of JICA loan for the speed railway project.” Before…

21 Mar

No plans to sell Bisleri now, says Ramesh Chauhan

Priyanka BhowmickBusiness, BUSINESSBusiness

Veteran industrialist Ramesh Chauhan informed on Monday that he has no plans to sell his packaged water business Bisleri International and is not in talks with any party to do so, three days after Tata Consumer Products Ltd called off their talks. Chauhan was in talks with Tata Consumer Products Limited (TCPL), the FMCG arm of the Tata Group, for about four months but the deal did not materialize. "We don't have any plans," Chauhan told PTI when asked if he has any plans now to sell Bisleri. However, when asked about media reports that his daughter Jayanthi Chauhan is…

20 Mar

Fiem Industries Ties Up with Gogoro India

Priyanka BhowmickBusiness, IndiaBusiness, india

Fiem Industries has signed a Memorandum of Understanding (MoU) with Gogoro India (a group company of Gogoro Taiwan) to expand its product portfolio in the 2-wheeler Electric Vehicle (EV) segment.Besides the lighting and rear view mirror businesses, FIM Industries will manufacture hub motor assemblies, electric control units (ECUs) and motor control units (MCUs) for Gogoro. In terms of the MoU, Gogoro will provide manufacturing, quality and testing support for the new product line as well as technical know-how and other support in setting up manufacturing facilities. Fiem Industries sees a huge business potential in the 2-wheeler EV segment and is…