Tuesday, Sep 27 2022 | Time 05:13 Hrs(IST)
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Business Economy


ADIA to invest in Aditya Birla Health Insurance

Mumbai, Aug 12 (UNI) The Boards of Directors of Aditya Birla Capital Ltd (ABCL) and Aditya Birla Health Insurance Co Ltd (ABHI) approved a proposal for a primary capital infusion of Rs. 665 crore in ABHI, from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
Aditya Birla Health Insurance is a 51:49 joint venture between Aditya Birla Capital Ltd and Momentum Metropolitan Strategic Investments (Pty) Ltd, a wholly owned subsidiary of South Africa-based Momentum Metropolitan Holdings Ltd.
The transaction values ABHI at Rs 6,650 crores. Completion is subject to receipt of statutory and regulatory approvals, including the approval of the Insurance Regulatory and Development Authority of India (IRDAI).
Upon the completion of the transaction, ADIA will own a 9.99 per cent stake, ABCL will hold a 45.91 per cent stake and MMH a 44.10 per cent stake respectively in ABHI.
ABHI plans to use this capital to drive its growth in the health insurance market in India. With its differentiated Health-First model, ABHI is the fastest growing health insurance company in the health insurance space in India.
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Govt announces extension of foreign trade policy for another 6 months

26 Sep 2022 | 8:19 PM

New Delhi, Sep 26 (UNI) Central government on Monday announced an extension of foreign trade policy (2015-20) for another six months till March 2023.
A statement from the Ministry of Commerce said the government had received requests from Export Promotion Councils and leading exporters that it should continue with current Foreign Trade Policy (2015-20), which had been extended from time to time.

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Hospitality industry hails flight to Shimla after 10 yrs

26 Sep 2022 | 7:15 PM

Shimla, Sep 26 (UNI) Federation of Himachal Hotel and Restaurants Associations (FOHHRA) hailed resumption of air flights to Shimla airport after a gap of ten years.

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Amara Raja announces backward integration of its business

26 Sep 2022 | 7:11 PM

Hyderabad, Sep 26 (UNI) Amara Raja Batteries Limited (ARBL), India’s leading industrial and automotive battery major on Monday announced a proposed transaction integrating its supply chain, leading to margin improvements by bringing the Plastics Component for Battery Business of Mangal Industries Ltd (MIL) into its own fold through a scheme of arrangement involving demerger of Plastics Component for Battery Business from MIL into ARBL (“Scheme”).

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Isuzu Motors India celebrates 10 yrs in India, all set to deliver 25K vehicles in FY22-23 for India & world

26 Sep 2022 | 4:54 PM

Pune, Sep 26 (UNI) Isuzu Motors India Private Limited, a subsidiary of Isuzu Motors Limited, Japan, celebrated its 10th anniversary of its operations in India here on Monday.

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Kottayam-Kochi Rubber Market Rates

26 Sep 2022 | 4:40 PM

Kottayam, Sep 26 (UNI) Following were the Rubber Market rates announced by the Rubber Board here Monday per quintal
KOTTAYAM
RSS FOUR: 14900
RSS FIVE : 14500
ISNR TWENTY: 13300
SIXTY PERCENT LATEX: 9720
KOCHI
RSS FOUR : 14900
RSS FIVE : 14500
INTERNATIOAL RATES (BANGKOK)
RSS One : 12852
RSS Two : 12722
RSS Three:12603
RSS Four : 12538
RSS Five : 12440
KUALALUMPUR
SMR TWENTY : 10770($133.10)
SIXTY PERCENT LATEX : 8387($103.65)
UNI PA SY SHK1640.

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