Former LS speaker Somnath Chatterjee passes away

Former Lok Sabha Speaker Somnath Chatterjee passed away at a private hospital here on Monday morning following multiple organ failure. He was 89 and survived by wife, a son and two daughters.

Positioning the Brand

One may wonder what has WILL or e-WILL got to do with an insurance company! But that’s what Aviva Life Insurance is doing in order to get a different brand positioning in the market. And that’s not without reasons.

Tea production set to decline this year

Given a 4.58 per cent (20.77 million kg) decline in tea output in the first half of 2018, India appears to be heading towards lower production compared with 2017. In the first half of 2018, production fell by 4.6 per cent to 432.46 million kg over the H1 of last year. The production has dropped to 432.46 million kg from 453.23 million kg in 2017.

Coal India pushes back output target

Coal India, the world’s biggest miner, has pushed back its ambitious one billion tonne production target by at least two years owing to the existing ground realities, a top official of the company has said. “One billion tonne annual coal production target will be achieved but it is not possible by 2020 as thought initially, due to various ground realities. We are now hoping to achieve it in the next 3-4 years from now,” the official told. The government had earlier set a target of 1 billion tonnes coal output by FY20.

To launch 50 new products

Britannia Industries, the biscuit maker that is dreaming to become a total foods company in the world, has announced a slew of new things at its 100 year anniversary celebrations that was launched on Monday.

A change of guard is required once you hit your first century, like a batsman gets more prepared for more things after a century,  and the company has announced the launch of a new corporate logo. Managing director Varun Berry said the new logo will reaffirm the elements of excitement and goodness.

Britannia proposes stock split, bonus debentures

FMCG major Britannia Industries in its centenary year will pump in close to Rs 400-500 crore in developing new products and put up a new dairy plant. The company has also proposed a stock split option and issue of bonus debentures to its shareholders.

Of the planned investment, Rs 300 crore will be spent on putting up a new dairy plant, the location of which is likely to be moved away from Maharashtra to Andhra Pradesh, said Britannia chairman Nusli Wadia here on Monday. The company unveiled a new logo on Monday to commemorate its centenary year.

BJP takes NRC route to target Mamata

The much-hyped National Register of Citizens (NRC) draft release in Assam has rendered 40 lakh people homeless. And that’s possibly is the biggest political and socio-economic talk-point now. Citizenship for Bangladeshi immigrants becomes a critical political issue in the context of emerging religious nationalism. Bangla speaking immigrants are treated as a threat to national security, and all methods of conflict governance have failed to address this issue.

GST slabs to be reduced to three

In the long-term, the goods and services tax (GST) slabs may come down to three, in addition to the exempted category, Sanjeev Sanyal, principal economic adviser to the finance ministry said.

The three slabs could be a low of 5 per cent, a central 15 per cent (merging 12 per cent and 18 per cent slabs ) and a top rate of 25 per cent, he said here on Saturday at an interactive session organised by the Bharat Chamber of Commerce.

“In the long-term, the GST rates might be squee­zed to three as more and more simplification will be done,” Sanyal said.

Indywood Billionaires Club opens FDI doors for film industry, raises Rs 3,000 cr

The Indywood Billionaires Club, an innovative initiative kicked off last year by the Sharjah-headquartered Aries Group to open the doors of Indian film industry for foreign direct investment, has already mobilised funds worth Rs 3,000 crore from nearly 20 leading NRI investors based in the United Arab Emirates, Europe and Asia-Pacific.

IIT Kharagpur working on developing battery-free implantable medical devices

Indian Institute of Technology (IIT) Kharagpur, one of the premier technology institutes in the country, is now working on to develop futuristic battery-free implantable medical devices for treatment of brain, nerve, muscle or spinal cord disorders that are untreatable by using standard medical practices.