Page 2 - Business

Call centres' response time to customers dipped in 2022, says report

Period taken to connect to business representative increased to 56 seconds, from 45 seconds in 2021

ICICI Bank raises Rs 5,000 crore through bonds to fund business growth

Private sector ICICI Bank on Monday said it has raised Rs 5,000 crore through bonds to fund business growth. The bank has allotted 50,000 senior unsecured redeemable long term bonds in the nature of debentures aggregating to Rs 5,000 crore on private placement basis, the date of allotment being December 12, 2022, it said in a regulatory filing. The bonds are redeemable at the end of 7 years (redemption date being December 12, 2029), it said. There are no special rights or privileges attached to the bonds, it added. The bonds carry a coupon of 7.63 per cent payable annually and were issued at par, it said, adding, the bonds would be listed in the relevant segment of the NSE.

Beijing's Covid gloom deepens as China relaxes curbs after protests

Anecdotal evidence suggests that many businesses have been forced to close as infected workers quarantine at home while many other people are deciding not to go out

MFI recovery, credit cost moderation key triggers for Bandhan Bank

Stock has sharply underperformed peers and is available at reasonable levels

Danfoss expects to double India business revenues by 2025: Official

Danfoss India, a leader in heating, ventilation and air-conditioning has set a target to more than double its India business revenues by focusing on its core business segments, the company said on Sunday. The company aims to garner revenues of Rs 5,000 crore by 2025 and as part of the growth strategy it has planned to strengthen its footprint across the country. For the calendar year 2022 the company expects to end with a revenue of more than Rs 2,000 crore. With a current presence of 56 cities, Danfoss India has envisioned to expand into over 80 plus cities, improve localisation of its products from an average of 50 per cent to 80-90 per cent. The company also has plans of introducing new innovative products focused on energy, food, health care, infrastructure and mobility sectors, the company said. "As a global organisation serving the world's energy efficiency needs for over nine decades now, we at Danfoss are deeply committed to India's de-carbonisation and sustainability ...

Women's Entrepreneurship Day: 5 women who are breaking the glass ceiling

As the world gears up to celebrate women in business, here is a look at five entrepreneurs in India who are breaking the glass ceiling

The $14 billion feud that splintered the billionaire Hinduja family

The family has now called a temporary truce, but the long-running and rancorous dispute has put at stake the future governance of the Anglo-Indian empire

Amul's Pashudhan is opening an alternative business for farmers, eBay style

In the "Pashudhan" tool of Amul's Milk Producers' app, the cattle rearers can upload pictures of their cattle and enter details like the day's milk yield and breed in order to sell them

Reliance Retail to expand biz in affordable toy segment through Rowan brand

Reliance Retail is expanding its business into the fast-growing toy sector through its brand Rowan to operate in the affordable segment with a smaller shop size. The company was running its toy distribution business through Rowan. It has now brought this homegrown brand to the front end by opening its first EBO (exclusive brand outlet) at Gurugram in NCR in the last quarter with a store size of 1,400 sq feet. Under this new format, Reliance Retail, the retail arm of Mukesh Ambani-led Reliance Industries, will have a range of affordable toys not only from the brand Rowan on its shelves but also from other brands, said an industry source. Reliance Retail also has the iconic British toy retail brand Hamleys in its fold. Hamleys is the world's oldest toy retailer and was acquired by Reliance in 2019, marking the first acquisition of a global retail brand by the company. Hamleys would continue to operate in the premium space, while brand Rowan would help Reliance Retail to tap the ...

Around Rs 40,000 cr of business expected during 2-days of Dhanteras: CAIT

Around Rs 40,000 crore of business is expected to be generated on this Dhanteras, which is spread over the weekend, on the back of positive consumer sentiment, the Confederation of All India Traders (CAIT) said on Saturday. Dhanteras, the first day of Diwali, is considered auspicious to buy new items, especially gold, silver jewellery, all kinds of utensils, kitchenware, vehicles, clothes and readymade garments, electronics, electrical goods among others. This year Dhanteras is spread over the weekend, with the muhurat beginning from 2 pm on Saturday till 6 pm on Sunday. "Around Rs 40,000 crores of business" is expected on two days festival of Dhanteras, CAIT national president B C Bhartia said in a statement. All India Jewellers and Goldsmith Federation national president Pankaj Arora said there is great enthusiasm among jewellery traders across the country regarding the sale of Dhanteras on Saturday and Sunday, for which the industry has made elaborate preparations. There is als

Indian economy's slow-but-steady activity awaits festive season boost

India's economy showed signs of slowing-but-steady growth last month, with businesses holding on to optimism that domestic demand will revive as the peak shopping season approaches

23% of SMBs remain closed in India as pandemic wanes, says Meta Inc

A Meta (formerly Facebook) survey of small- and medium-sized business (SMB) leaders in India has revealed that 23% of SMBs remain closed as the Covid-19 pandemic wanes

Morale of Twitter employees at all-time low with Elon Musk as boss

Elon Musk's intention to buy Twitter has hit the morale of employees at Parag Agrawal-led platform, as they aren't feeling great about what is actually coming at them after months of drama

Adani Enterprises announces establishment of two new subsidiaries

While Adani Disruptive Ventures aims to partner with businesses looking to create solutions through disruptive technology, Alwar Alluvial Resources will be engaged in minerals processing

CEOs rethinking strategies to hire, retain talent: KPMG 2022 CEO Outlook

KPMG's latest poll asked more than 1,300 CEOs of the world's leading companies about their hiring plans and expectations

Insolvency law changing the way society perceives biz failures: CCI chief

With a huge unsatiated appetite for freedom of exit, the insolvency law is changing the way society perceives business failures and striving to build confidence among creditors, Competition Commission of India chief Ashok Kumar Gupta said on Saturday. He also emphasised that suiting the new economic milieu, the Insolvency and Bankruptcy Code (IBC) projects exit as a resolvable fall-out of market competition and provides a rather graceful exit for entrepreneurs. He was delivering the annual day lecture of the Insolvency and Bankruptcy Board of India (IBBI), a key institution in implementing the Code. "Fuelled by a huge unsatiated appetite for freedom of exit, the insolvency law is changing the way society perceives business failures, as it becomes a reform by, for and of stakeholders. "Standing on the two critical pillars of transparency and credibility, the Code and its implementation have continuously strived to build confidence among the creditors and the new management through a

New cities being built in country as per global business demand: PM Modi

Prime Minister Narendra Modi on Friday said new cities are being built in the country as per global business demand with focus on improving and expanding old cities. India of the 21st century will get a new momentum from the cities in the country, he said while stressing the need to develop twin cities. Calling speed an important factor in development, Modi said the system of transport should be modern with seamless connectivity. The prime minister was addressing a gathering in Ahmedabad after flagging off the Gandhinagar-Mumbai Vande Bharat Express train and inaugurating phase-1 of the Ahmedabad metro rail project. "India of the 21st century will be getting a new momentum from the cities of the country. With the changing times, it is necessary to continuously modernise our cities with the changing needs," he said. "The system of transport in the city should be modern, there should be seamless connectivity. One mode of transport should support the other. This is necessary," Modi .

Data centre business to double by 2024, demand to help real estate: Reports

Investments in data centres expected to surpass $20 billion by 2025, with smaller cities gaining too

From Windsors to Kochs and Tatas, 5 rules for family businesses to thrive

Family companies are repositories of family traditions and family loyalties

American Express India appoints Sanjay Khanna as chief executive officer

In his new role, Sanjay Khanna will be leading several business development initiatives for American Express, while steering collaboration across its diverse businesses in India