Category business

Chennai, March 4, 2023: Earlier today, the New India Assurance Co Ltd. announced the launch of its Surety Bond business. It becomes the second insurer to offer Surety Bonds in the country.

The IRDAI permitted general insurers to issue Surety Insurance Bonds since April 2022. Surety bonds are legally enforceable tripartite contracts that guarantee compliance, payment and/or performance. The insurance company provides an underwriting guarantee, for a premium, in case of a default in execution of a project. It assures one party – the obligee, that the party responsible for project or service delivery – the principal, delivers on the project in a timely manner by adhering to the prescribed stipulations. The principal is also reassured that the surety will assume responsibility for timely payments. If the principal defaults on the performance, the Surety Insurance provider pays damages to the obligee.

Commenting on the launch, Mrs. Neerja Kapur, Chairman cum Managing Director, New India Assurance Co Ltd. said, “Surety Bonds will soon revolutionise the dynamics of India’s infrastructure industry. Surety Bond Insurance will act as a security shield for infrastructure projects and protect the interests of both the contractor and the principal. In today’s increasingly uncertain and volatile business environment, our Surety Bonds will provide much-needed financial reassurance to all parties involved in infrastructure projects. Going forward, we believe that surety bonds will drive India’s infrastructure push. We aspire to grow in the surety insurance business in India and are geared up for it.”

For small businesses, surety bonds are a useful tool as the collateral requirements of insurance companies are mostly less than Bank Guarantees. Surety Bonds can enable smaller infrastructure developers to compete with larger, more established players for bigger contracts. The authorities issuing the contracts, usually Governments, are generally hesitant to deal with smaller contractors as they are apprehensive about timely delivery. When the contractors furnish a Surety Bond, the authorities will readily consider them as the bonds indemnify them to the extent of the bond issued in the event of non-performance.

Bengaluru4th March 2023: Ideas2IT, a high-end product engineering company, and IdeaRX, a HealthTech startup, today officially announced the launch of “Pledge2Propel”, a career enhancement initiative to help tech professionals affected by the economic slowdown and layoffs. This unique initiative aims to provide all the support they need to re-group and pursue new opportunities by means of upskilling or venturing into entrepreneurship while prioritizing their mental health.

This upskilling program promises free mentorship to pursue the latest technologies and tools including:

« Artificial Intelligence, Data Engineering, Cloud Computing, Machine Learning, DevOps, Robotic Process Automation, languages like Python and more. The mentors will be industry experts in their respective fields, with a focus on practical, hands-on learning.

Pledge2Propel can also help during the job search, but does not promise or guarantee a job.

Meanwhile, budding entrepreneurs will be guided by veterans in navigating the various challenges ahead. The workshops, training sessions and networking opportunities provided will foster the growth of the business leaders of tomorrow.

With a decade of world-class product development for clients like Facebook, IKEA, and Microsoft under their belt, Ideas2IT and IdeaRX are keenly aware of how to produce and nurture next-gen tech talent. Both companies have also created and spun off numerous startups and products that give them clarity and depth in navigating the hurdles of entrepreneurship. Therefore, taking this opportunity to give back to the tech community was a no-brainer.

“With this association, we intend to transform the lives of many tech professionals through Empathy, inspiration and empowerment,” stated Gayathri, CEO of Ideas2IT. “We are proud to be a part of the tech community and grateful for this opportunity to contribute to the growth of the industry.”

Saravanan Vivekanandan, Founder and CEO of IdeaRX, said, “As a result of job loss, many professionals undergo emotional trauma and economic challenges. To address the same, we provide mental wellness counseling as well as financial counseling to help individuals move forward in life.”

This non-profit program is available for free to tech professionals around the world who have been impacted by the recession and are looking to upskill and find new job opportunities.

New Delhi, March 4, 2023 – MakeMyTrip, India’s leading online travel company, has witnessed an increasing trend of consumers opting to give Shagun in the form of an ‘online gift card’ to their friends, relatives, and colleagues.

“We have seen a direct correlation between the sale of online gift cards with the marriage season,” says, Raj Rishi Singh, Chief Business Officer, MakeMyTrip. “Increasingly, people want to gift experiences, a shift from the past where cash and gold were the only options. We surveyed to understand the needs of the consumers, and two distinct groups emerged. High-flying executives between 45-55 years, keen to gift something memorable to their friends/ relatives. The comparatively younger group, between 30-45 years, want to gift something thoughtful and trendy. Travel Shagun in the form of an online wedding gift card fits the bill for both categories.”

Interestingly, Rs 10,000 card is the most sold denomination, followed by Rs 5000, and Rs. 1000. The card allows couples to book holiday packages, hotels, flight tickets, train tickets, bus tickets, and fun activities. MakeMyTrip has seen a 30% increase in sales of travel Shagun this wedding season (Dec 22-Jan 23) compared to last year (Dec 21-Jan 22). “Undoubtedly, this is our best season yet in terms of sales of online wedding gift cards, but we believe that the peak is still far away. The emergence of the concept of travel Shagun will play a significant role in the times to come.”

The legacy of India’s culture continues even in the modern-day online gifting paradigm. More than 47% of online Wedding Gift Card buyers added Rs 1 to the total as a symbol of Shagun. The pattern prompted MakeMyTrip to start gifting a Shagun of Rs. 101 on every purchase.

With the return of ‘in-person events’, more than 25% of the respondents surveyed expressed a need to give a physical gift at the wedding ceremony. MakeMyTrip followed suit with the launch of a decorated envelope carrying the ‘e-voucher’ in the form of a boarding pass, delivered at no extra cost to the buyer’s doorstep. Almost 10% of the current users prefer this option. The overwhelming majority of 90% prefer the online wedding gift card.

Mumbai, Delhi, Bangalore, Chennai, and Pune form the top 5 cities in terms of sales. However, MakeMyTrip has observed increased traction from cities such as Patna and Jaipur, among the top 10 cities.

4th  March, Riyadh – The Saudi Literature, Publishing and Translation Commission has launched the inaugural edition of its Writers & Readers Festival on February 23 which is scheduled to continue till March 11 across five locations in Saudi Arabia’s Eastern Region to celebrate Arabic and international literature.

With the aim of supporting the works of Saudi, regional, and international literary luminaries, the event showcases and provides opportunities for literary partnerships in the fields of publishing and translation.

Dr. Mohammed Hasan Alwan, CEO of the Literature, Publishing and Translation Commission, said “Through this festival, we aim to acknowledge global literature and create a platform for writers and readers from around the world to exchange knowledge and ideas.

“The Eastern Region was chosen to host the festival because of its cultural heritage and historic impact on the literary movement in the area. It is home to some of the most influential literary voices, such as the 6th-century renowned Arab poet Tarafah ibn Al-Abd.”

The Writers & Readers Festival offers a comprehensive program with several interactive activities, allowing audiences to enjoy an immersive literary experience, including panel discussions with renowned writers, literary salons, literary criticism workshops and movie screenings.

Additionally, the program will also have theatrical performances, poetry nights, musical concerts, crafts and culinary markets and food trucks to cater to visitors.

One of the key events of the festival is the Sharqiyah Book Fair, which will take place between March 2-11 at Dhahran Expo, and is the Eastern region’s first book fair ever. Organized by the Literature, Publishing and Translation Commission, at least 300 local, Arab, and international publishing houses are participating in the book fair. It has a wide-ranging program that includes discussion panels, workshops, poetry nights, and kids’ zone.

The Writers & Readers Festival is one of the Literature, Publishing, and Translation Commission’s events which provide a platform to encourage cultural exchange and facilitate new opportunities for creativity and cultural expression.

4th March 2023 -: News18 Showsha Reel Awards 2023 is all set to be telecasted on CNN News18 on 4th March at 9:30 pm and on News18 India at 10 pm. The starry event witnessed industry’s biggest names like Karan Johar, Kiara Advani, Sidharth Malhotra, Vidya Balan, Kriti Sanon, Rajkummar Rao, Bhumi Pednekar, Anupam Kher, and Manoj Bajpayee amongst other prominent faces who were spotted at the award ceremony.

The newly-wed couple Sidharth Malhotra and Kiara Advani stole the spotlight with their love and chemistry, by addressing each other during their respective speeches. While Sidharth Malhotra received the Best Actor (Popular Choice) award for his portrayal in ‘Shershaah’, Kiara Advani took home the much-coveted Star of the Year award for her remarkable performances in films like ‘Shershaah’, ‘Bhool Bhulaiyaa 2’, ‘Jug Jugg Jeeyo’, and ‘Govinda Naam Mera’. After Sid stepped onto the platform to congratulate his wife, Kiara, no one could take their eyes away from the duo.

The event was hosted by Maniesh Paul and Atika Farooqui. Some of the prominent celebrities who won the various titles were Best Actress- Kriti Sanon for Mimi, Best Director- Ayan Mukherjee for Brahmāstra: Part One – Shiva, Best Supporting Actor- Anil Kapoor for Jugjugg Jeeyo, Best Supporting Actress- Neha Dhupia for A Thursday, Best Performance In A Negative Role- Divya Dutta for Dhaakad, Extraordinary Performance of the Year- Anupam Kher, Best Actor (Web Series)- Manoj Bajpayee for The Family Man 2, Best Actress (Web Series)- Huma Qureshi for Maharani, Best Actor (Jury)- Rajkummar Rao for Monica, O My Darling, Best Actress (Jury)- Vidya Balan for Jalsa, Breakthrough Performance of the Year- Bhumi Pednekar amongst others winning big this year.

Commenting on the awards ceremony, Mr Puneet Singhvi – CEO & President – Digital & Corporate Strategy, Network18, said “Network18 has always been at the forefront of creating one-of-a-kind programmes to honour our country’s diverse array of talent. One such endeavour was the News18 Showsha Reel Awards 2023, which honoured the creativity of outstanding talent in the Hindi film and OTT industry. It was a pleasure to host and celebrate these extraordinary talents.”

Ameya Bhise, Editor, News18.com, said “With the News18 Showsha Reel Awards 2023, we scaled up our initiatives aimed at promoting the ingenuity that defines the Hindi film industry and the world of web series, and to honour the creators who bring these stories to life. We congratulate all the awardees of the News18 Showsha Reel Awards 2023. It was a pleasure to witness all the creativity and talent on one stage and we are sure our viewers, too, will be in for a delightful experience soon with the telecast of the event on TV.”

Viewers can catch the grand event on CNN News18 on 4th March, 9:30 pm and on News18 India at 10 pm.

Bangalore, March 4, 2023: Mahindra & Mahindra Financial Services Limited, (MMFSL), part of the Mahindra Group, and one of India’s leading Non-Banking Finance Companies, today launched a specialized end-to-end digital journey named ‘Used Car Digi Loans’. This offering has been launched in association with Car&Bike (by Mahindra First Choice Wheels) & Rupyy (by Cardekho), the leading brands in the used car industry.

With the help of this new integrated journey, customers will be able to get customized loan offers from Mahindra Finance, enabling them to take faster buying decisions.

The integrated system will be able to seamlessly initiate the loan application procedure with Mahindra Finance thus making the process quick and convenient for the customer. ‘Used car Digi loans’ has the capability of successfully disbursing loans within a few hours with the help of specialized underwriting & processing teams, equipped with 15 state-of-the-art fintech tools. Partners will have real-time visibility of the application status and sanctioned loan offer allowing them to delight their customers with swift vehicle delivery.

Ramesh Iyer, Vice Chairman & Managing Director, of Mahindra Finance said, “Mahindra Finance has been at the forefront of innovative product offerings and this venture is another step in that direction. Our partnership with Car&Bike and Rupyy will enable us to leverage on market strengths to create a digitally empowered platform. This integration will ensure a seamless and transparent journey for all stakeholders enhancing customer delight”.

Ashutosh Pandey, MD & CEO of Mahindra First Choice Wheels mentioned, “We are pleased to start a new chapter in our ongoing relationship with Mahindra Finance. The new digitized journey will ensure an agile turnaround time thus enabling us to serve our customers better and further benefit our network partners”.

Namit Jain, CEO and Co-Founder of Cardekho Group said, “We are looking forward to our collaboration with Mahindra Finance. With this partnership, we plan to capitalize on Mahindra Finance’s rich expertise and experience in vehicle financing. This collaboration will help us to further expand our geographical reach across India and facilitate our customers and dealers with best loan offers and create a digitized and hassle-free used car loan journey for all our stakeholders”.

Kolkata, 4th March 2023 – Saini Group inaugurated a new Mahindra Showroom and Service Centre at Maheshtala, West Bengal on Friday. The inaugural event was held in the esteemed presence of Mr. Baneswar Banerjee, National Sales Head, Mahindra & Mahindra, Mr. Rajat Proothi, Head Network and Training, Saini Mahindra, Mr. Anand Totla, Zonal Head Sales, Saini Mahindra, Mr. PManoj Kumar Zonal Head Service, Saini Mahindra and Mr. Charanjit Singh Saini, Chairman & MD Saini Group.

The exclusive unveiling of the world-class sports automobile -Mahindra Thar- served as this event’s biggest attraction. The legendary crew of Fever FM took part in this one-of-a-kind event as well. RJs honored the distinguished attendees. An extravagant welcome drum performance dazzled the audience. An interactive session was organised between the CEO and Managing Director of Saini Group, and the celebrated RJs.

Speaking on the occasion, National Sales Head, Mahindra & Mahindra, Mr. Baneswar Banerjee, said, “Being a decade old player in the automobile industry, we have persevered to roll out best-in-class innovative automobiles for our audiences. This inauguration would lead to another new chapter in Mahindra Group’s legacy with increasing sales and business development.”

Elated with the inaugural, Chairman & MD Saini Group, Mr. Charanjit Singh Saini, said, “It is an honour for us to open a new Mahindra showroom. Saini Group is well known for its customer expereince. We believe the local market would be greatly delighted by this grand opening.”

New Delhi, 04-03-2023: NCR’s leading real estate company Migsun Group to develop a land parcel of 36,583 sq mt to develop a high-street commercial project from a private firm, Yogi Raj Promoters Pvt Ltd, in New Delhi’s Rohini. The Group will develop a 9-acre high-street commercial project with a total build-up area of 6.3 acres at the site. Migsun Group is one of the leading real estate developers in Delhi-NCR, with various affordable housing, premium, and commercial projects in Delhi, Ghaziabad, Noida, and Greater Noida to its credit.

The Migsun Group announced that the total investment cost, including the development of the commercial project, will be Rs 706 crores. The company has revealed that it might purchase an additional Floor Area Ratio(FAR) to meet future demands. Talking about this Yash Miglani, Managing Director, Migsun Group, stated, “This Project will help us to strengthen our presence in North Delhi. Rohini is one of the rapidly growing commercial real estate markets in Delhi-NCR, and we thought that this was an opportune time to tap into this lucrative market and give consumers a high-street retail experience.” The Migsun Group expects to deliver the high-street commercial project within three years.

With an establishment spanning over three decades, Migsun Group has delivered more than 40 projects in Delhi-NCR and developed more than 20 million sq ft of land in different pockets of the territory. The majority of its commercial Migsun projects are located in Ghaziabad and Greater Noida. The company has expanded its base and launched retail and residential projects in Tier 2 cities like Lucknow.

3rd March, 2023, Udaipur: News18, India’s leading news network, hosted the L’Aspiration Summit earlier this week at the historic Durbar Hall in Udaipur. The summit offered a unique perspective into changing lifestyles as well the contemporary definition of luxury and royalty through wide-ranging discussions on heritage, fashion, cuisine and culture. Erstwhile royals from Udaipur, Sirohi, Jaisalmer, and Rewa (Madhya Pradesh) participated in the event along with various celebs from the entertainment, fashion and culinary worlds.

During the session “Breaking Barriers,” News18’s Amish Devgan and the renowned actress Saumya Tandon spoke with Maharaj Kumar Lakshyaraj Singh Mewar. Lakhsyaraj ji Mewar highlighted the historical significance of the venue of the Summit, Durbar Hall from where the first steps to liberate India were taken. He also spoke at length about the role that the Mewar royal family has played in integrating various princely states into India as well as in advancing various social causes including the education of girls. He also emphasized the importance of cultural heritage including one’s linguistic heritage and stated that it is important for everyone to feel a sense of pride in their history and culture. Social media, he said, has given a window to the world into the private lives of erstwhile royals, also allowing them to connect with the outside world and opined that “time” is the real luxury that one can have.

The session “Redefining Royalty” featured Maharaj Daivat Singh of Sirohi, who spoke at length about how sustainable living should become a cornerstone of everyone’s lifestyle today and how it is important and a luxury in present times. He also spoke about how luxury tourism in a particular region greatly supports the local economy. Maharaj Vikram Singh of Jaisalmer described how the definition of luxury is changing with time and highlighted the benefits of heritage tourism.

Manya Singh, Miss India 2020 runner-up, stated that she views luxury from the lens of what makes her comfortable. She also spoke extensively about her own journey in the world of fashion coming as she did from a very conservative and underprivileged background – highlighting how it is important to dream, build one’s confidence and never give up on one’s passion. discussed luxury as being comfortable, and emphasized the importance of being true to oneself.

The session “Rooted and Resilient” featured the brother-sister pair of Princess Mohena Singh and Prince Divyaraj Singh of the Rewa royal family. They spoke about how the erstwhile royal families are having to combine legacy with modernity today. Princess Mohena Singh also spoke about the critical importance of sustainable lifestyles sharing that given the current situation access to clean air has become a luxury.

In the session ‘Regal Spread’ session, celebrity chef and winner of Masterchef India Shipra Khanna said that luxury can be viewed from many different lenses – money, time etc. She also spoke about the relevance of Ayurveda and how ingredients like ginger, black pepper, and turmeric are not only for the kitchen but also for treatments. “We apply gold and silver varak to sweets to make them look royal. Hindustani cuisine today is being served in the US, UK, Spain, Muscat, and Oman. We are running towards the west, whereas there are so many recipes available in India that we can offer to the world.” she said.

In the session of ‘Queen or Hearts’, actress Saumya Tandon stated luxury is having the power to make your own choices. Reminiscing about her childhood, she shared how poets like Shivmangal Singh Suman had a great impact on her. “I remember writing my first poem at the age of 6 after witnessing a wedding and funeral together,” she said. When asked about the future of luxury, she emphasised that a local connect will become more and more important.

The Summit came to a close with an enthralling session on royalty and poetry by the renowned poet, and actor, the ever so eloquent Shailesh Lodha who spoke about how kings and emperors used to support poets. He further said that poetry is close to his heart just like acting is to his body and that poetry will always be important for society. Acknowledging that poetry today pays well, he shared that he was indeed happy to break the traditional mould in which poets were cast and was happy to re-invent the idea of a kavi as someone who could be very high on the tyle quotient.

The 2nd edition of the L’Aspiration Summit brought together diverse perspectives on luxury, heritage, and culture, and showcased the evolving trends in the space of luxury.

Experience the vibrant streets of North India and embark on a flavorful journey through the region’s culinary treasures at DoubleTree by Hilton Goa – Panaji’s North Indian Sunday Brunch on March 5th, 2023 from 1 p.m. to 4 p.m.

Savor a delectable spread of authentic dishes, prepared with the perfect blend of spices to tantalize your taste buds. From fiery curries to fragrant live stations and flavorful chaat counters, indulge in the best of North Indian cuisine with delights such as Soya Palak, Peshawari Paneer Handi, Bharwan Simla Mirch, Bhune, Kathal ki Sabzi, Dal Pakhtooni, Murgh Awadhi Korma, Gosht ki Galouti, Rajma ki Galouti, Sheermal, and more.

Don’t miss this culinary extravaganza! Reserve your table now and experience the enchanting flavors of North India right here in Goa.

Reservations / Details: 09607975314 or 0831 2491900

When: Sunday, 26th February
Time: 1 pm – 4 pm
Venue: Comida, DoubleTree by Hilton Goa – Panaji
Price: INR 2,800++ per person (alcoholic brunch)
INR 1800 ++ per person (non-alcoholic brunch)
INR 1800++ per child (6yrs – 12yrs)