Business - The Purbottar

23 Jun

ICICI Prudential Life announces a 15% higher bonus

editor0 CommentsBusinessFINANCE, ICICI

A bonus totalling Rs 788 crore has been declared by ICICI Prudential Life Insurance for its bouquet of participating products. This is the 14th consecutive year the Company has declared a bonus and delivered long term value to policyholders. The bonus declared for FY2020 is 15% higher than the last fiscal enabling ~9 lakh policyholder to get one step closer to achieving their financial goals. All participating policies in force as of March 31, 2020, are eligible to receive this bonus, which will be added to their guaranteed maturity or death benefit.Managing Director & CEO of ICICI Prudential Life Insurance,…

23 Jun

Indiabulls Reportedly Breached by CLOP Ransomware

editor0 CommentsBusiness

Indiabulls, a diversified financial services group with more than Rs. 28,580 crore (as on March 31, 2019) in net worth, has been reportedly breached by CLOP Ransomware operators. These operators, as per the report, claim to have stolen data that includes four spreadsheets related to the Indiabulls Pharmaceuticals and Indiabulls Housing Finance Limited subsidiaries, among other files. Till now, CLOP Ransomware operators have uploaded six screenshots of stolen files and asked Indiabulls to contact them in 24 hours. According to a report by Bleeping Computer, the cyberattack on Indiabulls has come from CLOP Ransomware operators that steal unencrypted files and…

23 Jun

ICICI Bank sells ₹840 crore shares of ICICI Prudential Life

editor0 CommentsBusiness

Private sector lender ICICI Bank today said that it has the Bank has divested 21,500,000 equity shares of face value of Rs. 10 each of ICICI Prudential Life Insurance Company Limited on the stock exchange for an approximate total consideration of ₹840 crore. Shares of both ICICI Bank and ICICI Pru Life were firm in early trade, up 3% and 4% respectively amid a broader market rally. ICICI Prudential Life Insurance Company Limited (ICICI Prudential Life) is promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited. Its assets under management (AUM) as on 31st March 2020 were at ₹1,52,968 crore. On Friday, ICICI…

22 Jun

Apple’s ARM-Based Chip to First Launch on 13.3-Inch MacBook Pro

editor0 CommentsBusiness

Just hours before the Worldwide Developers Conference (WWDC), noted analyst Ming-Chi Kuo has released an investor note detailing Apple's long-anticipated move from Intel to its own custom-designed ARM processors for its Mac range. Kuo says that the first models to spearhead this transition will be the 13.3-inch MacBook Pro and a completely redesigned iMac. These new models are reported to arrive in the fourth quarter of 2020 or early 2021, however Apple is expected to announce the first ARM processor at WWDC. The WWDC special keynote is set to begin at 10am PDT (10:30pm IST) today. Kuo's latest investor note,…

21 Jun

The effective ban on the use of Chinese network gear could extend to private telecoms like Bharti Airtel and Vodafone Idea

editor0 CommentsBusinessBAN, CHINESE

The government has told two state-run telecoms firms to use locally-made rather than Chinese telecom equipment to upgrade their mobile networks to 4G, a senior government source said on Thursday. New Delhi's move comes amid a backlash against companies from China after the killing this week of 20 Indian soldiers by Chinese forces in a Himalayan border dispute. The instruction is aimed at Chinese telecom gear makers Huawei and ZTE, the source said, after India last year announced an almost $8 billion plan, some of which was earmarked for network upgrades, to help loss-making operators Bharat Sanchar Nigam (BSNL) and…

21 Jun

Diesel Price Hits Record High As Fuel Rates Raised For 15 Days In A Row

editor0 CommentsBusinessPetrol, Price

In the 15-day period, the price of petrol has been increased by a cumulative Rs 8.88 per litre in the national capital, and diesel by Rs 7.97 per litre. Petrol and diesel rates were raised to Rs 79.23/litre and Rs 78.27/litre respectively. Petrol and diesel prices were increased on Sunday, the fifteenth straight hike since state-owned oil companies returned to the normal practice of daily reviews following a 12-week pause. The rate of diesel in Delhi touched a new record high, while petrol was at a two-year peak. With effect from 6 am, the price of petrol was increased by 60…

20 Jun

Apple may make it’s latest iPhone ‘cheaper’ in India.

editor0 CommentsBusiness

Apple’s make-in-India push is set to get a shot in the arm as it has been reported that the new iPhone SE could be assembled in India. According to a report by The Information, Apple has informed one of supplier in China to begin shipping components for the latest iPhone SE to India. Apple’s manufacturing partners will get the components to assemble the new iPhone in India. What it will do is that it will help the Cupertino-based tech giant to avoid high import taxes it has to pay. It could also make the iPhone SE — which starts at…

20 Jun

Realme Narzo 10A Next Sale on June 23 via Flipkart

editor0 CommentsBusiness

Realme Narzo 10A will next go on sale in India on June 23. The flash sale for the phone will be held via Flipkart and the Realme India website. The phone was launched in May after many initial delays due to the coronavirus lockdown. It has been available via flash sales ever since. Realme Narzo 10A was introduced alongside the Realme Narzo 10 that is also available via flash sales currently. The next sale for the Realme Narzo 10 is also set for June 23. Realme Narzo 10A sale will begin at 12pm (noon) IST on Flipkart and Realme.com on June…

20 Jun

Offers Of Upto ₹ 1 Lakh On The Honda City & Amaze In June

editor0 CommentsBusiness

In a bid to attract new customers this month, Honda Cars India is offering lucrative deals and offers on selected models. As a part of the offer, the Japanese car manufacturer is providing discounts of up to ₹ 1 lakh on select models, namely the Honda Amaze and Honda City. Notably, these offers on Honda cars are subject to variant, grade and location and it may vary by the model or by variants. All the offers are valid till June 30, 2020, or till the stocks last.

20 Jun

Glenmark Pharmaceuticals launches COVID-19 drug after DCGI nod.

editor0 CommentsBusiness

Glenmark Pharmaceuticals on Saturday said it has launched antiviral drug Favipiravir, under the brand name FabiFlu, for the treatment of patients with mild to moderate COVID-19.The Mumbai-based drug firm had on Friday received manufacturing and marketing approval from the Drugs Controller General of India (DCGI). FabiFlu is the first oral Favipiravir-approved medication for the treatment of COVID-19, the company said in a statement. "This approval comes at a time when cases in India are spiralling like never before, putting a tremendous pressure on our healthcare system," Glenmark Pharmaceuticals Chairman and Managing Director Glenn Saldanha said.The company hopes that the availability…