ASBM Business Updates is a Selective Compilation of Business News from Various Sources. To find details follow the links.
ASIAN
BUSINESS
Since adopting Google’s Android platform,
Samsung has
witnessed massive growth in its smartphone
sales, currently rivaling Apple for the top spot
globally. The company’s
began in earnest last year with a
for individual carriers as
needed. The Samsung Galaxy S
was that one great device last year,
and its
successor, the Galaxy S II, is
In a bid to increase its presence in mainland
China,
HSBC is planning to expand its branch
network or raise its stake in
the Bank of
Communications (BoCom).
Speaking with the Financial Times, HSBC
bank’s
Chief Executive Stuart Gulliver
said that he wanted his bank to either
expand its branch network in mainland China from the
current 110
branches to 800 branches or
substantially lift its holding in BoCom,ranked
a among the top five biggest banks in the Asian country.
ASIAN
MANAGEMENT
Kingfisher
Airlines (KFA) has reported a 75% jump in its net loss to Rs 444
crore for the December quarter from a year earlier amid high fuel cost,
significant flight cuts and a weaker rupee, said the company in a
statement.
The airline which has discontinued operations on
its low cost arm Kingfisher Red last year also saw its revenues drop 5% to
Rs 1547 crore, year-on-year.
China is unlikely to cut entire oil imports from
Iran, Iranian political scientist, International relations expert Davoud
Hermidas-Bavand believes.
"The imports may be decreased, but they will
not be stopped completely,' Hermidas-Bavand told Trend.
He was commenting on China's recent cut purchases
of Iranian oil by around 285,000 barrels per day (bpd) - just over half of
the total daily amount it imported in 2011.
China needs a pressure tool for the U.S., which
can be used if necessary," he added. "With this in mind, China
cannot afford to lose Iran now."
ASIAN
SCHOOL OF BUSINESS MANAGEMENT
National Management Seminars on
Operation and Logistics (OperLogix’12) organized by ace B-School, ASBM,
Bhubaneswar on 28th January, 2012
National Management Convention
(NamCon’12) organized by ASBM on a pertinent theme ‘Envisioning Future
Business: Redefining Strategies for Excellence.’
Asian
School of Business Management’s biggest 2-day B-School meet ‘Ignite-12’ and
Markfest-12’ held simultaneously, was surely a ‘fun and learn’ experience
for the students who participated with great zeal held in the institute.
Ad-Diction, WinQuiz, Business Plan, Skit Show, Fashion Show were organized
on the occasion where the budding professionals exhibited their talents.
‘Each programme is unique of its kind.
BANKING
There could be some good news for ailing Air India
in the upcoming Union Budget 2012 with the government considering a support
package of about Rs 10,000 crore for it, including Rs 6,600 crore worth of
equity infusion.
The Union Cabinet is expected to consider this
package shortly to enable inclusion of the provision in the general budget,
official sources said, adding that a Cabinet note has already been circulated
for comments from various ministries. The
cash-strapped airline is likely to get a Rs 10,000 crore package in the
next financial year, including additional equity of Rs 6,600 crore and
other support, the sources said.
There has never been so much pressure on
financial institutions to maximize the revenue and relationship potential
of each customer. With government regulations reducing fee income,
historically narrow interest rate spreads, and consumer satisfaction with
many financial institutions wavering, there's a need to ensure that once a
customer opens a new account, every effort is made to help the customer
understand and use their account, expand their relationship, and increase
loyalty to your organization.
BUSINESS
In the
latest battle in what has become a lengthy war against traditional
television powerhouses, online media groups like Hulu and YouTube are
trying to nab more advertising as they continue their attempted takeover of
the video market.
But advertising
is only half the battle, and some are questioning whether online media
companies will ever be able to compete on the same level as television’s
traditional superstars as they also adapt their businesses to changing
tastes, and become more tech savvy.
A
group of online media companies, including Hulu, Google’s (GOOG: 609.90,
+3.79, +0.63%) YouTube, Microsoft (MSFT: 31.48,
+0.11, +0.35%), AOL (AOL: 18.23,
-0.21, -1.14%) and Yahoo (YHOO: 14.89,
+0.11, +0.74%), will host a two-week event this April in New York that
copycats networks’ glitzy “upfront” week, a showcase of new shows aimed at
wooing potential advertisers.
Central bankers do not like anyone to see them
sweat, much less panic. But last November the temperature was clearly
rising inside the battleship-gray office tower in downtown Frankfurt that
houses the European Central Bank.
European commercial banks were unable to raise money to lend to customers.
Borrowing costs for Spain, Italy and Portugal were threatening to spin out
of control, and Greece’s had risen to levels that would make a loan shark
blush. Analysts were issuing reports predicting that Greece would leave the
euro zone — if the currency union was lucky. The worst case was that the euro would disintegrate.
BUSINESS
MANAGEMENT
Russia, set to be the
third-largest wheat shipper, aims to secure a “foothold” among buyers in
Asia, increasing competition for U.S. and Australian supplies.
“One of the new and
promising directions for Russian grain exports is the Asia-Pacific region,”
Andrey Klepach, the deputy minister of economic development, said in a
message to delegates at a conference in Singapore. The segment “is now
rapidly evolving and Russia has all the chances to gain a foothold.”
Futures dropped 20
percent in the past year as global crops and stockpiles headed for records
and trade rose to the second- highest level in at least in five decades.
The U.S., the biggest exporter, has already lost market share to Russia in
North Africa and the Middle East and faces competition from record
Australian shipments in Asia. More supply may curb food costs the United
Nations says climbed the most in 11 months in January.
Israel, under threat of
war from its neighbors since its founding in 1948, produced better
risk-adjusted returns than all other developed stock markets in the past
decade. The country’s main stock index, the Tel Aviv TA-25, returned
161 percent, including dividends, over the 10 years through
Feb. 17, the third-best performance among developed markets after
Norway’s OBX Index and Hong Kong’s Hang Seng. After adjusting for market
volatility, Israel came out on top among the 24 developed nations, with a
7.6 percent risk-adjusted return. Hong Kong was second at 6.7 percent,
Norway third at 6.5 percent.
FINANCE
Japan's Olympus Corp unveiled a proposed new board of
directors on Monday in an effort to recover from a $1.7 billion accounting
fraud, but the line-up could face a hostile reception from foreign
investors when it goes to a shareholder vote.
The maker of cameras and medical equipment said it
had nominated an insider, executive officer Hiroyuki
Sasa, to become president and former banker Yasuyuki Kimoto as
chairman, subject to approval at its April 20 shareholders meeting.
Oil prices are poised to
gain for the third straight week, undermining global equity market
sentiment and threatening the fragile economic recovery, CNBC's weekly
survey of market sentiment showed. A CNBC poll of analysts and traders
showed 12 out of 16 respondents, or 75 percent, expect oil prices to rise
this week. Three believe prices will fall and one expects no change. Though
the bulls comprise the overwhelming majority, many are lightening long
positions, or bets that prices will rise, as they believe the recent rally
is showing signs of fatigue.
INDIA BUSINESS
The postman in rural
areas across the country has his hands full. Apart from his regular job, he
now has to go out three to four times a week to collect data from retail
outlets which is then used to calculate the rural consumer price inflation.
Faced with an acute manpower shortage, the ministry of statistics and
programme implementation tied up with the department of posts to get over
the problem of collecting such massive amount of data from rural areas
across the country.
Undeterred by the global
slowdown, Indian
Inc is spending on corporate travel, pushing up the outbound market for
MICE (meetings, incentives, conventions
and exhibitions).
The Indian outbound MICE market
is estimated to be around $550-600 million and is expected to increase by
10%-15% this year.
About 1.5-1.8 million passengers travelled outbound for meetings and
conventions. Pharmaceuticals, cement FMCG, IT and financial services are
the major industries contributing to the sector.
INSURANCE
Reliance
General Insurance Co Ltd (RGIC) has been ordered by a Delhi consumer forum
to fully reimburse a woman's claim of around Rs one lakh, incurred on
repairing of her insured car after an accident.
Besides
asking RGIC to fully reimburse the expenses of Rs 96,265 to city resident
Sangmitra Singh, the South Delhi District Consumer Forum also asked it to
pay her Rs 30,000 as compensation for harassing her by not getting damages
to her car properly assessed.
The motor and health insurance is expected to
become dearer on the back of government advice that insurers should
increase premiums in order to overcome their losses.
In its letter to the national reinsurer General
Insurance Corporation (GIC), the government has suggested to end the system
of providing reinsurance cover to individual insurers on policies in the
loss making segment.
“GIC is also advised not to give reinsurance for
such policies which are loss making as these lead to claims on GIC and for
such businesses, let the insurers take risk or enhance premium,” as
mentioned in the letter issued by the Finance Ministry earlier this month.
INTERNATIONAL
BUSINESS
China's short-term lending rates dived on Monday
for a second straight day after banks obtained funds following a cut in
their reserve requirement ratios (RRR), but the People's Bank of
China appeared to be quick to step in to set a floor for the rates.
The PBOC's first RRR cut this year took effect on Friday, injecting about
400 billion yuan ($63.5 billion) into the financial system as money market
rates jumped to a one-month high last week on tight liquidity.
The cut helped push the rates down sharply on Friday, which was likely to
prompt the PBOC to drain money, traders said.
NASA is making a
cosmic U-turn on the road to Mars. For the past two decades, the U.S. space
agency has been practically obsessed with Mars. It has hardly missed an
opportunity about every two years to fling robotic spacecraft at the red
planet.
This summer, the most high-tech rover ever, Curiosity, will land near the
Martian equator in search of the chemical building blocks of life. The more
scientists study Mars, the closer they get to answering whether microbial
life once existed there, a clue to the ultimate question: Are we alone?
LOGISTICS
TNT
Logistics UK has been awarded a five-year
contract to operate two man home delivery services for the newly-launched Tesco
Direct. The nationwide service will utilise dedicated Tesco Direct
vehicles as well as TNT Logistics’ multi-user TNT Home fleet, which already
delivers furniture and larger goods for other retailers.
NYK Logistics (Scandinavia) has just moved
to a new centrally located purpose built 27,000m² Scandinavian Distribution
Centre (SDC) in Gothenburg.
This new warehouse brings together NYK's logistics activities in one
260,000m³ facility which incorporates high bay racks as well as narrow and
broad aisles. The large mezzanine floor is ideal for pick and pack
activities. In addition, the site benefits from 24 hour class 2 security,
including electric fencing.
MANAGEMENT
Billionaire Anil Agarwal's Vedanta (VED) Resources
Plc will combine its publicly-listed Indian units in a new company, cutting
debt after its USD 8.67 billion purchase of oil producer Cairn India Ltd.
Speaking to CNBC-TV18, Agarwal said, he felt it
was unnecessary to have two holding companies. He says the new structure
will enhance shareholder value.
Sesa
Goa , India's largest iron-ore exporter, will absorb Sterlite
Industries in an all-share deal. Investors will get three Sesa Goa
shares for five shares of Sterlite. Vedanta will transfer for USD 1 its
38.8% holding in Cairn India, including a debt of USD 5.9 billion, to Sesa
Sterlite, the new company that will hold 58.9% of Cairn India.
ODISHA
BUSINESS
Focussing on irrigation and infrastracture, the
Odisha government today presented a revenue surplus budget of Rs 52,030.70
crore for 2012-13 while raising the lowest slab of VAT from 4 per cent to 5
per cent, making essential items like medicine, steel and foodgrains
costlier.
"The total expenditure proposed in the Budget estimates for 2012-13
including debt repayment is Rs 52,030.70 crore," Finance Minister
Prafulla Ghadai said presenting the annual budget in the Assembly for the
ninth year in a row.
Hit by adverse economic scenario and lack of a
comprehensive nutrient policy, fertiliser major IFFCO may be compelled to
slash its profit target for 2012-13 to Rs 800 crore from Rs 1,000 crore
fixed for current fiscal.
"Due to various factors, we are likely to scale down our profit target
for the next financial year to Rs 800 crore, though the target this year is
Rs 1,000 crore," IFFCO Managing Director U S Awasthi told PTI in an
interview here.
RETAIL
French retailer Carrefour
is sewing up plans to launch its next two stores in the northern Indian
cities of Agra and Meerut.
With German chain Metro
entering the Capital last week, and American retailer Walmart already
establishing presence in several small North Indian towns, the French firm
has been forced to pull up its socks.
“The Meerut store is
under construction and a location has been identified for the Agra store.
Carrefour plans to open the store later this year. The two stores will be
smaller than the Delhi store,” a person close to the development said. In
December 2010, Carrefour had set up its maiden outlet in Delhi's Seelampur
area. The 56,000 sq. ft. store houses over 10,000 stock keeping units
Kolkata-based company, Ambuja Realty's maiden
retail project in central India will open for public in October 2012. City
Centre, Raipur, a mixed use development comprising mall and office space
has been built with an investment of Rs 175 crore. The mall has a total
built up area of 4,80,000 sq.ft. and a gross leasable area of 3,80,000
sq.ft.
Commenting on the location of the mall, Pramod Dwivedi, Head – Marketing,
Ambuja Realty, said: "Raipur is truly loaded with myriad opportunities
as it is in a nascent stage of development of real estate and retail. The
city embodies a tremendous economic potential with an annual growth of 20
percent and is shaping up as one of the most prominent industrial and
commercial hubs of central India. In City Centre mall, we have tried to
have a balanced mix of major anchors, national brands and local retailers
which will lead to richer consumer experience."
SUPPLY
CHAIN
The past year has seen some major
challenges for supply chain professionals with natural disasters such as
tsunamis and floods disrupting operations. Not surprisingly mitigating
supply chain risk has moved sharply up the executive agenda.
Patrik Jansson, vice president, head of engineering and materials
management operations at Sony Ericsson, will be examining the issue at the
Extended Supply Chain Conference which takes place in London in April
Twelve new supply chain efficiency projects are to
share £4.5 million government support.
The government-backed Technology Strategy Board
will see industrial end-users working with their supply chains and with
innovators to create sustainable new technologies, products and processes
that reduce the global environmental impact of the materials in use, while
also reducing dependence on key raw materials.
The companies leading the projects include:
Jaguar Cars, Unilever, Gwent Electronic Materials, Innoval Technology,
Johnson Matthey Fuel Cells, Liberty Electric Cars, Marshalls Mono,
Morganite Electrical Carbon, M-Solv, SABIC UK Petrochemicals, and Augean.
______________________________________________________________________________________
We
welcome your suggestions in improving this information updating service.
Knowledge
Is Power. Be Informed, Be Knowledgeable, Be Powerful.
Best
wishes
Compilation
Sabita Sahu,
B.A., PGDCA, MLISc,
Professional Library Trainee
Concept,
Layout and Editing
Rajashekhar
Devarai
Chief Librarian
Information
and Documentation Division, Chanakya Central Library
Asian
School of Business Management
Shiksha
Vihar Bhola,
Barang
Khurda Road, Chandaka
Bhubaneswar-754012
|
No comments:
Post a Comment