BUSINESS
`IRDAI's new commission rules to affect PSU insurers, legalises actions of private players'
The official also said the new norms will affect adversely the government owned general insurers and an advantage for mid and large sized private insurers. The IRDAI had recently notified its regulations whereby, the policy segment wise ceiling on commissions payable to the distributors has been abolished.
Fourth quarter of 2022-23 sees lowest IPO fundraising in 9 years
According to Pranav Haldea, Managing Director, Prime Database Group, as many as 25 out of the 37 IPOs came in just three months of the year (May, November and December), which shows the volatile conditions prevalent through most of the year which are not conducive for IPO activity.
NXP Semiconductors CEO Kurt Sievers meets Prime Minister
In a tweet about the meeting on Tuesday, the company said: "NXP CEO Kurt Sievers met with India's PM @narendramodi to discuss strengthening the semiconductor ecosystem, developing STEM workforce and startup ecosystem in India. We're committed to driving innovation and positive change through our tech solutions."
India's PC, tablet market grew 5% to reach 19.6 million units in 2022
While notebook shipments fell by 7 per cent to 11 million units, desktop and tablet shipments increased significantly by 37 per cent and 21 per cent to 3.2 million and 5.4 million units respectively, in 2022, reports market research firm Canalys. HP led the Indian PC (excluding tablets) market, with more than 30 per cent market share in both Q4 and full-year 2022. Lenovo took the second place but suffered a large shipment decline of 31 per cent in Q4 of 2022.
Government plans to implement 58% of its borrowings in first half of 2023-24
Out of the gross market borrowing of Rs 15.43 lakh crore projected for 2023-24 in the Union Budget, Rs 8.88 lakh crore (or 57.55 per cent) is planned to be borrowed in first half of the fiscal. The borrowing is scheduled to be completed in 26 weekly tranches of Rs 31,000-39,000 crore.
Igor Sechin's visit to India: Stepping up integrated cooperation
During the trip, Rosneft Oil Company and Indian Oil Company signed a term agreement to substantially increase oil supplies as well diversify the grades to India. Igor Sechin, CEO of Rosneft Oil Company, and Shrikant Madhav Vaidya, Chairman of Indian Oil Corporation Ltd., signed the agreement, in the presence of India's Minister of Petroleum and Natural Gas Hardeep S. Puri.
Coal Ministry launches seventh round of commercial mines' auction
Out of the 106 coal mines, 32 are new coal mines and 69 mines are being rolled over from earlier tranches. Additionally, five coal mines under the second attempt of sixth tranche are also being launched where single bids were received in the first attempt.
'Monetary tightening to have limited impact on residential sales'
Real Estate consulting firm CBRE South Asia announced the findings of its report, '2023 India Market Outlook'. The report highlights key trends and projections for the Indian real estate sector this year. The report further highlighted that Indian consumers have remained optimistic about their personal finances, especially compared to other economies.
How to pay your Loan EMI using PhonePe
From money transfers to recharges, paying electricity and other utility bills, to buying insurance and investing in Mutual Funds, PhonePe is trusted by one in four Indians. During this digital age, paying Loan EMI via apps makes it comfortable and efficient, so that you don't have to spend hours at the bank.
TASL to manufacture cargo doors of A320 Neo aircraft
Aircraft maker Airbus has awarded this contract to TASL which is considered a significant step towards increasing Airbus' competitiveness in the single-aisle aircraft market and supporting the ramp-up of the A320 programme. TASL said in a statement that it will produce these doors at a new facility in Hyderabad using cutting-edge robotics and automation technology. Each shipset will include two cargo doors and one bulk cargo door.
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