Thursday, October 08
The life insurance industry recorded nearly 13% year-on-year rise in new business premiums (NBP) in May 2025 to Rs 30,463 crore, up from Rs27,034 crore a year earlier, according to data released by the Life Insurance Council. The month saw a 10.4% fall in the number of life insurance policies sold by the companies as the industry continued to navigate the new surrender value guidelines that kicked in October last year.The growth was primarily driven by the private sector insurer, which reported a 16.6% increase in NBP to Rs12,058 crore. State-run Life Insurance Corporation (LIC) posted 10.3% increase to Rs18,405 crore, the data showed.Among listed private players, HDFC Life reported a 33% jump in premiums to Rs3,022 crore, while SBI Life’s total premiums grew over 25% to Rs2,950 crore. I
Holders of Sovereign Gold Bonds (SGB 2017-18) Series X earned handsome gains of Rs 6,669 or 225% per gram of gold on premature redemption. It was issued on December 4, 2017 at a price of Rs 2,961 per gram.The window for premature redemption was open between May 5 and May 26 when the investors could submit the request to the receiving offices/NSDL/CDSL/RBI Retail Direct.On October 6, 2017, the government had informed about issuing (SGB 2017-18 Series X).The premature redemption of gold bonds is permitted after the fifth year from the date of issue of the gold bond on the date on which interest is payable.The redemption price of SGB is based on the simple average of closing gold price of 999 purity of previous three business days from the date of redemption, as published by the India Bullion
The price war engulfing China’s electric vehicle industry has already sent share prices tumbling and prompted an unusual level of intervention from Beijing. The shakeout may just be getting started.For all the Chinese government’s efforts to prevent price cuts by market leader BYD Co. from turning into a vicious spiral, analysts say a combination of weaker demand and extreme overcapacity will slice into profits at the strongest brands and force feebler competitors to fold. Even after the number of EV makers started shrinking for the first time last year, the industry is still using less than half its production capacity.Chinese authorities are trying to minimize the fallout, chiding the sector for “rat race competition” and summoning heads of major brands to Beijing last week. Yet
Billionaire investor Warren Buffett has long steered clear of Silicon Valley’s flashiest trends. But as he prepares to step down as chief executive of Berkshire Hathaway later this year, the investment firm he built is now deeply exposed to the engine driving today’s technology boom: artificial intelligence.Apple and Amazon, two companies at the heart of the AI race, together account for roughly 22% of Berkshire’s $282 billion equity portfolio, or about $62 billion in market value. The stakes underscore a subtle but meaningful shift in the strategy of an empire once defined by railroads, banks, and insurance firms.Apple’s weight remains, even after a pullbackApple, with its $3 trillion valuation, remains Berkshire’s largest stock holding by far, making up 21.6% of the total portf
Jindal Saw on Monday approved the incorporation of a step-down subsidiary in the UAE and entered into joint venture (JV) agreements to establish two new companies in Saudi Arabia.The new UAE subsidiary will focus on setting up a pipe manufacturing facility with a capacity of 300,000 tons per annum (TPA) in Abu Dhabi. This facility aims to cater primarily to the oil and gas sector across the MENA region.In Saudi Arabia, Jindal Saw Holdings FZE, a subsidiary of Jindal Saw, has partnered with Buhur for Investment Company LLC to launch a helically spiral welded (HSAW) pipe project. Additionally, a JV with RAX United Industrial Company will establish a ductile iron pipe manufacturing unit, further strengthening the company’s footprint in the iron and steel industry in Saudi Arabia.All necessa
