Category Archives: Finance

Countdown to Ocean Business 2023 as Registration Opens

The Training and Demonstration program – featuring 130-plus hours of new technologies demonstrated in the dockside waters, onboard vessels and in the classroom – is also now live and can be viewed on the Ocean ulasan film Business website.

The sessions will allow visitors to see tomorrow’s world today and meet the experts behind cutting-edge technology in an ocean environment.

Highlights include the latest in autonomous vehicle underwater monitoring from EvoLogics; next generation ROVs from international innovators such as Saab Seaeye, Oceanbotics and Deep Trekker; Maritime Robotics’ collision avoidance systems; and ground-breaking advances in AUV technology from Singapore’s BeeX, with a vehicle that can autonomously inspect platform structures using a positioning system from UK company Sonardyne.

Inside the exhibition, visitors will be able to see pioneering developments across the ocean technology sector and find solutions to shape the future of their business.

Key industry players, including Teledyne Marine, Kongsberg Marine, Planet Ocean, and AAE Technologies, among many others, will be out in force this year, showcasing products and services, all with a focus on fast changing technology.

Ocean Business 2023 will also host a one-day, free-to-attend conference – on top of a series of associated, on-site meetings – with a line-up of the industry’s brightest minds addressing the key issues of the day.

LIC appoints Tablesh Pandey as managing director

Life Insurance Corporation (LIC) on Tuesday said it has elevated Tablesh Pandey, executive director of the company, as its safety sign printing managing director.

His appointment is effective from April 1, 2023, according to a regulatory filing.

Pandey will replace present managing director B C Patnaik, it said.

LIC presently has four managing directors.

Pursuant to a government notification, “Tablesh Pandey, Executive Director, LIC of India, has been appointed as Managing Director, LIC vice B C Patnaik with effect from the date of assumption of charge of the office on or after 1st April, 2023…,” the company said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

HPCL in pact to manufacture, distribute

Hindustan Petroleum Corporation Ltd (HPCL) has entered into an agreement to manufacture, distribute and market lubricants of global supermajor Chevron in India, the two companies said on Tuesday.

“Chevron Brands International LLC (Chevron), a subsidiary of Chevron Corporation, has entered into a long-term trademark licensing agreement with HPCL. This collaboration encompasses the licensing, production, distribution, and marketing of Chevron’s lubricant products under the Caltex brand, including Chevron’s proprietary Havoline and Delo branded lubricant product,” they said in a statement.

The agreement provides for “Caltex-branded lubricants to be manufactured, distributed, and marketed in India by HPCL”.

HPCL already has its own brand of lubricants and this would be in addition to the existing ones.

Commenting on the agreement, Brant Fish, President of Chevron International Products, stated, “We are extremely pleased to partner with HPCL to bring quality Caltex lubricants technology and performance to India. HPCL is a market leader in India, and together we plan to build on the strength of the Caltex brand and our premium product portfolio.”

Fragrance, flavour industry to touch over $5

The fragrance and flavour industry of the country is likely to grow around 12 per cent each year and touch over USD 5.2 billion in three to four years , an apex body of the marketplace bandung industry said.

This growth will be driven by factors like rising disposable incomes and changing consumer preferences, Fragrances and Flavours Association of India (FAFAI) president, Risabh Kothari, said.

“The fragrance and flavour industry is growing very fast in the country. The present size of the industry is USD 3.7 billion in the country, Kothari said.

The major user industries of this segment are food and beverages, personal care, homecare, pharmaceuticals and cosmetics, and these include major MNCs, domestic companies and small businesses, the FAFAI president said.

Given the growing demand for natural and organic products, consumers are increasingly opting for them which present an opportunity for the fragrances and flavours industry, he stated.

Coupled with this, consumers are willing to spend more on premium products with rising disposable incomes, Kothari said.

According to him, the personal care industry is growing at a rapid pace which also presents a good opportunity for this segment.

However, Kothari said the biggest threat which this industry is facing is that of cheap imports dumped by overseas players owing to inverted duty structure.

A major ingredient for the industry is natural essential oils which attract higher import duty compared to fragrances, the end product.