Page 5 - Business

Himanta rolls out financial aid scheme to help Assam youth set up business

In a move to fuel growth through self-employment, Assam Chief Minister Himanta Biswa Sarma has launched a scheme to help youths set up their own ventures. At a function here, Sarma rolled out the Chief Minister's Atmanirbhar Asom Abhijan 2023. He also launched a registration portal for the scheme. Under the programme, financial aid will be given to two lakh youths for creating a robust entrepreneurial ecosystem, he added. Speaking on the occasion on Saturday, Sarma said, "The scheme has been designed to create self-employment avenues to enable the youths to fuel development of the state. It has the potential to strengthen rural economy." He said that the unemployed degree holders in the fields of engineering, medicine, agriculture, animal husbandry and fishery will be kept in the first category and will be given Rs 5 lakh. "On the other hand, unemployed postgraduates, general graduates, ITI, polytechnic passouts will be kept in the second category for government assistance of Rs 2

Grasim to launch its paint biz in Q4 under the brand name 'Birla Opus'

The production of paints will take place at the company's manufacturing plants located in Haryana, Punjab, Tamil Nadu, Karnataka, Maharashtra, and West Bengal

General Datatech to expand India operations, double headcount in 1 year

GDT will be hiring both laterals and freshers from Indian colleges. In terms of skills, it would be focussing on networking-related skills like 5G, SD-WAN, and Wi-Fi 6.

THE TIMELESS JOURNEY: FROM A RICH LEGACY TO INSPIRING FUTURE

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Businessmen in India being harassed by central agencies: Mamata Banerjee

Businessmen of the country are being harassed by central agencies, West Bengal Chief Minister Mamata Banerjee alleged on Friday. Speaking at real estate meet STATECON 2023 here, Banerjee said her family was also being harassed by these investigative agencies even when she did not accept "a single cup of tea from anybody". "Sometimes, some persons may disturb you but you are not alone. Don't be weak. All businessmen are being harassed by the agencies. My family is also being harassed, even when I did not take a single paisa or accept a single cup of tea from anybody in my life. This is a political vendetta. If anything happens, you should take legal steps," she told the gathering. The chief minister claimed that certain sections were trying to create a bad image of the state by portraying that only communal riots happen in West Bengal, and no developmental works are undertaken. "This is absolutely wrong. If you look closely, you will find that West Bengal is at the top in many ...

Gati partners with Tech Mahindra to develop app to boost productivity

Allcargo Group firm Gati on Monday said it has partnered with Tech Mahindra to develop an application to boost productivity and unlock new business opportunities for the company. Tech Mahindra will enable Gati, over the next 18-24 months, to custom develop the software application -- Gati Enterprise Management System (GEMS) 2.0 -- from scratch, covering the entire first, mid and last-mile operations, the company said. The software will be developed in modules like pickup, delivery, en-route, customer contracts, invoicing, among others, offering a modern tech-driven interface while increasing efficiency and lowering costs, it said. The software application leverages Tech Mahindra's expertise and focuses on cloud-native applications, Gati said, adding the partnership is focused on replacing Gati's legacy application with a digital, scalable, and more agile cloud-based application. GEMS which was rolled out 20 years back is a pioneering initiative in the logistics industry, said ...

Taro stake buyout to help operate dermatology biz profitably: Sun Pharma

Sun Pharma is looking to fully acquire its Israel-based unit Taro Pharmaceutical Industries in order to integrate the dermatology business with itself and keep it profitable amid increasing competition in the segment, according to Managing Director Dilip Shanghvi. The Mumbai-based drug major has proposed to fully acquire Taro through a reverse triangular merger. The company has issued a letter to the Taro board with a proposal containing a non-binding indication of interest to acquire all of the outstanding ordinary shares for a purchase price of USD 38 per ordinary share in cash. Sun Pharma currently owns around 78 per cent stake in Taro. "My own assessment is that the dermatology business, which is the primary focus for Taro, is a business under constant, increasing competition pressure," Shanghvi said in an analyst call. He further said: "And as a stand-alone company, it will be very difficult for Taro as an independent company to continue to operate that business profitably. S

Important to remove bias rather than woman tag: Women leaders in tech

Women in corporate India believe that removing the bias attached to women entrepreneurs and leaders is more important than shedding the tag itself, as females in the workforce are a role model for others who follow in their footsteps. On the occasion of Women Equality Day, women leaders in tech, that PTI spoke to, said their journey reflects opportunity, determination as well as a responsibility, and hence they would not want to shed the "woman" label. Mintoak chief product officer Rama Tadepalli said it would be better to "retain the woman tag and remove the bias." "I don't want to actively shed the label, as I've come to understand that when a woman achieves success, whether as an employee, entrepreneur, or in any capacity, she assumes a role with both opportunities and responsibilities." Edelweiss Asset Management Limited MD and CEO Radhika Gupta said. This entails being a role model for other women who observe the journey and the generations that follow, she added. SUGAR Cosme

Hindenburg 2.0? Soros-backed OCCRP said to be planning another 'expose'

Months after a US short seller shook markets with a damning report on the Adani group, the Organised Crime and Corruption Reporting Project (OCCRP) - an organisation funded by likes of George Soros and Rockefeller Brothers Fund - is said to be planning another 'expose' on certain corporate houses in India, sources said. OCCRP, which calls itself "an investigative reporting platform formed by 24 nonprofit investigative centres... spread across Europe, Africa, Asia and Latin America, may publish a report or a series of articles, three sources with knowledge of the matter said. An email sent to OCCRP seeking comments remained unanswered. Founded in 2006, OCCRP claims to specialize in reporting on organized crime and largely publishes these news articles through partnerships with media houses. On its website, it identifies the Open Society Foundations of George Soros, a financier with a penchant for funding radical causes around the world, as one of the institutional donors. Others ...

Business ideas under 3 lakh: Here's how you can set up your own business

Setting up a business is not a tough nut to crack, as all you need is a business idea and dedication to build something on your own. Here are the 5 business ideas under Rs 3 lakh

ESG will help companies create sustainable business culture: Experts

Environmental, social and governance (ESG) will help companies create a sustainable business culture which goes beyond wealth creation, leading executives of companies said on Tuesday. ESG reporting landscape is rapidly changing at the global level owing to ever increasing challenges and re-orientation of the corporations, they said. Speaking at a CII event here, managing director of Linde India Abhijit Banerjee said with increasing challenges arising out of ESG dimensions, business leaders in India see a merit to reorient their corporate purpose and extend beyond wealth creation into broader themes that its key stakeholders are concerned with. Banerjee said in the present world, sustainability is something that investors are demanding, customers are expecting and employees are valuing. "Leadership has to play a key role in implementing sustainable business culture in an organisation. The leadership indicators focus on providing a broader picture of the company's operations in term

ReNew Energy records Rs 298.3 crore net profit in April-June quarter

ReNew Energy Global Plc on Saturday reported a net profit of Rs 298.3 crore in the April-June quarter of 2023-24 against a loss of Rs 10.4 crore in the year-ago period. Total income was Rs 2,465.9 crore in the first quarter of FY24 against Rs 2,500.7 crore in April-June 2022, according to a company statement. Days Sales Outstanding -- the average number of days that it takes for a company to collect payment after a sales-- ended Q1 FY24 at 114 days, a 118-day improvement year on year, it stated. "We are reiterating our FY24 guidance. The company expects to complete construction of 1,750 to 2,250 MW by the end of Fiscal Year 2024," it said. As of June 30, 2023, the company's portfolio consisted of 13.7 GWs, a 6.3 per cent increase year on year, of which 8.4 GWs are commissioned and 5.3 GWs are committed. As much as 415 MWs commissioned in Q1 FY24, increasing its operating MWs to 8,395 MWs, an increase of 10 per cent. ReNew is India's leading decarbonisation solutions company liste

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30% booksellers in Afghanistan shut shop due to lack of good market: Report

Abdul Wodod Mukhtarzada, member of commission, said that the booksellers have also complained about high taxes which are difficult to pay as their business has witnessed a decline

Improved capacity, reduced turnaround time: India's ports mean business

Major ports have added more than 100 million tonnes in additional traffic since 2014-15

Axita Cotton Limited Q1 2023 Quarter Analysis: A Stellar Rise in Profits and Promising Future Predictions

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Air India's accumulated losses at FY23-end estimated at Rs 14,000 crore

Air India's losses include write-offs on old planes and engines and those on account of AirAsia India

Japan's minister Hayashi pitches for improvement in India's biz environment

Japan's Foreign Minister Yoshimasa Hayashi has pitched for improvement in the investment environment for Japanese firms operating in India with many of them seeking a more predictable, transparent and stable business climate in the country. A Japanese readout said Hayashi requested External Affairs Minister S Jaishankar for cooperation on improving the investment environment and for the early establishment of a joint crediting mechanism, during their talks on Thursday. Separately, deputy press secretary in Japan's foreign ministry Yukiko Okano said Hayashi met over lunch on Friday representatives of Japan Chamber of Commerce and Industry in India (JCCII) and officials of several Japanese companies operating in the country, and they apprised him about the issues. The Japanese foreign minister began his two-day visit to India on Thursday. "The view from the Japanese businesspeople here is that they would like to see a more predictable, transparent and stable business environment in .

China using coercive business practices for economic advantage: US

The diplomatic relations between China and US have been downgraded since the Chinese spy balloon incident

Ex-Japan PM Suga pitches for improving business environment in India

Ahead of his meeting with Prime Minister Narendra Modi here, former Japan Prime Minister Yoshihide Suga on Thursday said he will pitch for improving the business environment in India for companies from his country. Suga was scheduled to meet Modi later in the day. "I will convey to His Excellency (PM Modi) the request we have received from the business leaders who are accompanying us this time and are keen to improve the environment for Japanese companies to do business in India," Yoshihide said at an event organised by industry body FICCI. Addressing another event organised by industry body CII, the former Prime Minister of Japan said, he will continue to encourage the Japanese private sector to invest in India. In my meeting with Prime Minister Modi, I would like to ask him to improve the business environment in India, he added. He observed that Japan is in full agreement with the public and private sectors on the importance of strengthening ties with India. "Last year, the Jap