ASIAN
BUSINESS
Wipro Ltd’s
acquisition of the Singapore-based LD Waxson Group comes at a time when substantial
overseas acquisitions by consumer companies have dropped to a trickle. Whether
this is a one-off or it marks a return from a stage of consolidation to one of
growth for the industry isn’t clear. The acquisition also comes at a time when Wipro has proposed
separating its non-IT business, which includes consumer products, to make it an
unlisted entity.
The
consumer care and lighting division of Wipro saw sales rise 27.8% to Rs.1,987
crore while its segment profit rose 27.9% to Rs.227 crore for the six months
ended September. Its stand-alone revenue—representing its domestic
business—contributed about 56.8% of consolidated revenue. This acquisition will
increase the contribution of its overseas business to about 50%, according to a
Mint news report on the
acquisition.
Wipro is paying $144 million (around Rs.780 crore
at current exchange rates) to buy LD Waxson, a consumer company that had
revenue of $68 million in annual revenue from the sale of personal care
products. It is paying 2.1 times revenues to acquire Waxson, which is not
cheap, but the price is perhaps justified by the target’s market position.
Sales growth and profitability could be other factors, but they have not been
disclosed.
Stockholders in Dole Food Co., Inc. have approved
the sale of the company’s worldwide packaged foods and Asia fresh business to
ITOCHU Corp. for $1.685 billion.
The transaction already received regulatory approval
in six of the seven applicable countries. The goal is to finalize the sale by
the end of December. The company is waiting on final regulatory approval from
China.
“This is a transformative transaction for our
company, and we are pleased to have received stockholder approval today,” said
David H. Murdock, Dole’s chairman. “While Dole’s fresh produce business will be
significantly smaller and is continuing to experience declining earnings in a
continued difficult economic environment both in the United States and in
Europe, I am very optimistic about the long-term future of Dole and its
prospects. “We will remain an industry leader in the sourcing, distribution and
marketing of bananas, pineapples and other tropical fruits, packaged salads,
fresh-packed vegetables and fresh berries. With the planned substantial
reduction in debt and the eventual lower cost structure from right-sizing our
organization, Dole will be well positioned to pursue growth opportunities
within the fresh produce industry.”
ASIAN MANAGEMENT
Lion Global Investors Limited (“Lion Global”),one of
the largest asset management companies in Southeast Asia and Pacific Mutual
Fund Bhd (“Pacific Mutual”), one of Malaysia’s leading investment management
companies are set to strengthen their presence in Asia through synergies
arising from Lion Global’s acquisition of a 70 per cent stake in Pacific
Mutual. The acquisition was completed on 30 October 2012.
Pacific Mutual’s customers can expect to gain access to more offshore funds that will stem from Lion Global’s LGlobal Funds SICAV fund range as well as Singapore-registered unit trusts that will be made available through Pacific Mutual’s distribution channels. Pacific Mutual will also be able to leverage on the expertise of Lion Global’s bigger pool of portfolio management and research team consisting of 45 investment professionals.
Lion Global’s acquisition of Pacific Mutual will provide the Singapore-headquartered fund manager with a direct foothold in the Malaysian fund management industry through an established locally-licensed entity. With access to Pacific Mutual’s bigger team of Malaysian equity fund managers, Lion Global’s customers will be able to invest in a broader range of Malaysian equity
Mutual. The acquisition was completed on 30 October 2012.
Pacific Mutual’s customers can expect to gain access to more offshore funds that will stem from Lion Global’s LGlobal Funds SICAV fund range as well as Singapore-registered unit trusts that will be made available through Pacific Mutual’s distribution channels. Pacific Mutual will also be able to leverage on the expertise of Lion Global’s bigger pool of portfolio management and research team consisting of 45 investment professionals.
Lion Global’s acquisition of Pacific Mutual will provide the Singapore-headquartered fund manager with a direct foothold in the Malaysian fund management industry through an established locally-licensed entity. With access to Pacific Mutual’s bigger team of Malaysian equity fund managers, Lion Global’s customers will be able to invest in a broader range of Malaysian equity
funds.
HSBC
global payments and cash management has been appointed to provide liquidity
management services to CLSA Asia-Pacific market’s operations.
CLSA
operates a number of entities across different markets in Asia, with a central
borrowing entity at a group office level in Hong Kong, its global headquarters.
The management of cash was left to the individual entities, resulting in some
entities operating with short positions requiring group funding while others
ran positive cash positions.
CLSA was
looking to bridge the gap between their debit and credit positions across their
businesses, enabling them to reduce borrowing costs significantly.
The
regional structure implemented for CLSA across nine Asian markets is based on
HSBC’s global liquidity solutions (GLS) platform, specifically dedicated to
advanced liquidity management services. The regional structure comprises a
number of multi-currency notional pools to consolidate and offset mismatching
positions across CLSA’s business entities, combined with an interest
enhancement cross-border virtual pooling arrangement to optimize the return on
their other operational balances.
ASIAN SCHOOL OF BUSINESS MANAGEMENT
The
National HR Conclave- 2012 on "Unleashing the Power within People-The
HR Way" was held at Asian School of Business Management campus here on
8th December 2012.
Chief
Guest on the occasion, S.V. Nathan, Director, Talent Sourcing, Deloitte said,
"To groom oneself as a successful
and vibrant manager, one need to imbibe Analytical, Strategic & Conceptual
abilities to unleash the power within him or her, so as to be hired by the
Corporate(s) anywhere in the world". He further added that, "Gratitude, Attitude and Purpose (GAP) are
three key attributes one need to develop to be a successful Manager."
Giving his
welcome address on the occasion, Prof. Biswajeet Pattanayak, Director ASBM
said, "Fear of failure,
Conformity and old traditional values, Conservative approach, flaws in present
education system along with the Infrastructural deficit are obstructing the
right kind of talent to be explored; which needs to be done away with."
Keynote
speaker Dilip Mohanty, Vice President (HR & IR), Aditya Birla Group said, "In the context of present complex Industrial
scenario, talent hunting is more essential which cannot be replicated unlike in
the case of products which can be imitated or duplicated."
BANKING
Kerala-based South Indian Bank hopes its business
will touch Rs 1-lakh crore by March 2014. As on September 30, 2012, the bank’s
business stood at over Rs 67,000 crore.
According to Cheryan Varkey, Executive Director,
South Indian Bank will look to achieve 25 per cent growth in its business this
fiscal. The bank’s advances stood at Rs 29,000 crore as on September 30.
“We have grown by 23-24 per cent till date (up to
September). Though the current economic conditions do pose a challenge in
achieving this growth, we are hopeful of growing our business as per our
targeted plan this year,” Varkey told Business Line at the inauguration
of its corporate branch here on Monday.
The bank will focus on small loans, primarily aimed
at the traders’ community.
“We are looking at tapping traders in the textiles,
pharmaceuticals and jeweller community to grow our advances,” he said.
Talking about asset quality, Varkey said, the bank
would aim to bring down the share of gross non-performing assets to around 1.2
per cent of its total advances by the end of this fiscal. Gross NPA of the bank
currently stands at 2 per cent.
The scandal over banks' attempted manipulation of
interest rates has mostly centered on the London interbank offered rate. But
Libor's lesser known cousin, the euro interbank offered rate, or Euribor, is
facing mounting attacks.
The European
Union is expected soon to accuse multiple banks of attempted collusion in the
setting of Euribor, according to people briefed on the probe. Barclays
BARC.LN +0.59% PLC
has already acknowledged trying to rig the rate, and other banks are likely to
be pressed by regulators in the U.S., U.K. and elsewhere into similar
admissions, according to industry and regulatory officials. The organization
behind Euribor, the European Banking Federation, is waging a campaign to retain
control of the rate, which serves as the basis for interest rates on trillions
of dollars of financial products, everything from mortgages to corporate loans
to derivatives. But making that case is complicated by the fact that EBF
officials were long aware of potential shortcomings in how the rate is
calculated but didn't take decisive action to address the weaknesses, according
to people involved in setting Euribor and internal EBF documents and emails.
BUSINESS
Great Wall Motor, China's biggest SUV maker, is in
talks to set up a wholly-owned business in India, an Indian industry official
said on Monday, in what would be the first Chinese car maker to enter the
country alone.
Great Wall, China's eighth-largest car maker, sent a delegation to India last week, and targets starting manufacturing of vehicles in India in 2016, Vishnu Mathur, director general of the Society of Indian Automobile Manufacturers (SIAM), told Reuters in an interview.
"They are looking at coming into India to set up manufacturing," said Mathur. "They are meeting industry, they are meeting government, they are meeting suppliers."
Great Wall executives met with SIAM representatives last week, Mathur said. He did not provide details of investments planned.
Great Wall representatives could not be reached by Reuters for comment.
India's car market has attracted billions of dollars in investment from overseas manufacturers, such as General Motors, Ford and Toyota. But Chinese car makers have not yet made significant inroads into the country.
Great Wall, China's eighth-largest car maker, sent a delegation to India last week, and targets starting manufacturing of vehicles in India in 2016, Vishnu Mathur, director general of the Society of Indian Automobile Manufacturers (SIAM), told Reuters in an interview.
"They are looking at coming into India to set up manufacturing," said Mathur. "They are meeting industry, they are meeting government, they are meeting suppliers."
Great Wall executives met with SIAM representatives last week, Mathur said. He did not provide details of investments planned.
Great Wall representatives could not be reached by Reuters for comment.
India's car market has attracted billions of dollars in investment from overseas manufacturers, such as General Motors, Ford and Toyota. But Chinese car makers have not yet made significant inroads into the country.
Public sector defence major Bharat Electronics
Limited India ( BEL) on Monday said the company has signed a Memorandum of
Understanding (MoU) with Israel Aerospace Industries Ltd. (IAI).
According to the MoU, both the partners will work
together on the future of Long Range Surface to Air Missile (LR-SAM) ship
defence system projects. The LR-SAM is an over $500 million
joint venture with Israel. This will help the Indian Navy to protect its
warships from incoming enemy cruise missiles and fighter aircrafts.
For many
years IAI has been engaged in joint development programmes with the DRDO and
Indian defence industries for the Indian Navy and Indian Air Force, including
joint manufacturing of sub-systems.
The MoU
lays out framework for BEL-IAI cooperation, under which BEL will function as
the lead integrator and produce major sub-systems. IAI will continue to act as
design authority and to produce sub-systems as a main sub-contractor of BEL.
“We see
IAI as a strategic partner with a wide range of potential joint activities.
This MoU demonstrates that BEL and IAI can work closely together on the most
sophisticated and advanced programs, for the mutual benefit of both companies.
We will continue to operate under the active support and guidance of the DRDO,”
Ramakrishna, Director, Marketing of BEL, said.
BUSINESS COMMUNICATION
Private and government enterprises in Indonesia can
now take advantage of industry’s latest digital integrated voice and data
communication solutions to improve their efficiency and competitiveness. Motorola Solutions, Inc. (NYSE:MSI) is enabling this in
Indonesia with a wide range of digital solutions from its industry leading MOTOTRBO™ portfolio.
The new MOTOTRBO™ radio solutions will benefit the
strategic government & public services, and high growth sectors such as oil
& gas, mining, transportation, as well as hospitality and related services.
The new introductions include the XiR 8600, XiR 6600 series of portable and mobile digital two-way
radios, world’s thinnest two-way digital radio in its class SL1K, and Linked Capacity Plus software which will help existing
MOTOTRBO™ radio users to upgrade to digital trunking cost effectively.
Motorola Solutions also announced the opening of
Motorola Solutions Excellence Centre at Glodok (Harco Glodok Building, Lantai
2, Blok CII/212), Jakarta . The centre will showcase the full range of analog
and digital professional commercial radio solutions. It is designed for
all current and potential radio solutions users to gain first-hand knowledge
about the benefits of digital radio solutions and how they can be achieved with
Motorola Solutions.
Kofax
Communication Server has been selected by an unidentified US insurer, to
increase its property and casualty claims and related documents processing as
well as reduce costs and improve customer service.
The
technology will help the insurer to automate the exchange of millions of claims
related documents, such as accident reports, repair invoices and
proof-of-identity documents received each year.
Replacing
manual communications processing, Kofax Communication Server consists of email,
fax, SMS, MMS, voicemail and telex communications, which enable automatic
exchange of information between enterprise applications.
Mitigating
the delays and errors related to manual processing, the technology helps to
process claims quickly, while improving efficiency and customer service.
Kofax
delivers services to more than 20,000 customers through its own sales and
service organization, and a global network of over 800 authorized partners in
75 countries across the Americas, EMEA and Asia Pacific.
BUSINESS
MANAGEMENT
Microsoft
has announced Microsoft® Office for Android® and IOS devices. The release,
targeted for the 1st quarter of 2013, will finally allow you to read and work
with your Office files on your Droid device. While the licensing has yet to be
announced, it appears that if you have an Office 365 account, you should have
the full feature set. The basic app will be free, but may be limited in
functionality.
Depending upon the technology news sources you read, the product may or may not be worth the wait, Office 365 subscription or not. However, if you’re still looking for a viable solution to read Office files on your non-Windows devices, check out Documents to Go (from Dataviz and my personal favorite), Quickoffice (publisher by the same name) and Office Suite (Mobile Systems). You can find these on Google Plan and Apple iTunes.
This is not unlike the other apps in the Android marketplace, such as Documents to Go, Quickoffice, Documents Free and Office Suite. These range in price from free to $20 US, depending upon whether you want to edit or just view, and whether you have an Android or an IOS device. I’ve not had much success with the freebies, but the dollar investment in the non-Microsoft solutions is pretty accessible for most people.
Depending upon the technology news sources you read, the product may or may not be worth the wait, Office 365 subscription or not. However, if you’re still looking for a viable solution to read Office files on your non-Windows devices, check out Documents to Go (from Dataviz and my personal favorite), Quickoffice (publisher by the same name) and Office Suite (Mobile Systems). You can find these on Google Plan and Apple iTunes.
This is not unlike the other apps in the Android marketplace, such as Documents to Go, Quickoffice, Documents Free and Office Suite. These range in price from free to $20 US, depending upon whether you want to edit or just view, and whether you have an Android or an IOS device. I’ve not had much success with the freebies, but the dollar investment in the non-Microsoft solutions is pretty accessible for most people.
Standards for efficiency and productivity have never
been higher in today’s business world. As a result, more and more companies are
implementing strategies for trade promotion management to increase their
profits and stay competitive. Trade promotion management
is intended to facilitate and monitor promotional and marketing strategies.
These are designed to increase the sales and market share of a company’s
products and services.
An effective trade promotion management strategy
should encompass all the stages of the business cycle. Depending on the
business or industry, this typically includes wholesalers and distributors,
retailers, and of course consumers. Without implementing trade promotion
management strategies and analysing their effects in all aspects of the
business cycle, a company could easily lose perspective on why a promotion is
productive, or why it is not.
In order for trade promotion management to be
properly integrated into a business model, however, planning must take place at
the beginning of the business cycle and at the executive level. This enables a
business to create and implement a strategic business plan, which can then be
passed down to their sales team. This in turn allows for a sales organisation
to produce informed sales objectives, and further, more accurate sales
forecasts.
In addition, trade sales management also provides
sales teams with an effective tool to monitor and analyse the promotional
strategies that have been implemented.
FINANCE
Tata
Housing Development Company has ruled out pulling out of Maldives and is
discussing with the government there regarding an alternate site for a housing
project following plans to construct the Supreme Court on one of the allotted
sites.
The Tata group entity also said it is "seriously considering" the island government's offer of an alternate land parcel instead of an earlier location and hopes to settle the issue within next 1-2 months.
"We are not pulling out of Maldives. We are amicably discussing with the government there. We hope that in the next 1-2 months, we will have a final settlement," Tata Housing Development Company Senior vice-president (International Business and New Business Initiatives) Sandeep Ahuja said on Monday. The company has been facing issues with the government there for one site, in which a Supreme Court building is planned. The Indian firm was offered four sites to develop housing projects.
"We have four land parcels under our possession in Maldives and out of that construction work is going on in three sites. For the fourth one, the government is requesting us to take an alternate land and has offered us 3-4 sites. We are seriously considering their offer," Ahuja said.
The company will not have any issue in relocating its housing project to a new site provided the land is of the same size, in similar location and is not sub-standard, he added.
The development regarding the Tata Housing project comes close on the heels of the take over of GMR's $500 million airport project by the Maldives government.
The Tata group entity also said it is "seriously considering" the island government's offer of an alternate land parcel instead of an earlier location and hopes to settle the issue within next 1-2 months.
"We are not pulling out of Maldives. We are amicably discussing with the government there. We hope that in the next 1-2 months, we will have a final settlement," Tata Housing Development Company Senior vice-president (International Business and New Business Initiatives) Sandeep Ahuja said on Monday. The company has been facing issues with the government there for one site, in which a Supreme Court building is planned. The Indian firm was offered four sites to develop housing projects.
"We have four land parcels under our possession in Maldives and out of that construction work is going on in three sites. For the fourth one, the government is requesting us to take an alternate land and has offered us 3-4 sites. We are seriously considering their offer," Ahuja said.
The company will not have any issue in relocating its housing project to a new site provided the land is of the same size, in similar location and is not sub-standard, he added.
The development regarding the Tata Housing project comes close on the heels of the take over of GMR's $500 million airport project by the Maldives government.
Goldman Sachs
has downgraded Cairn
India to 'neutral' from 'buy' as it expects the company's earnings to
remain flat or decline on the back of moderation in crude oil prices outlook.
"With our medium-term oil price outlook of
gradual moderation, we now view Cairn
India's earnings profile as flat to declining vs. our previous expectation of
growth. This is despite rising volumes from the Rajasthan development as
revenue share of the government will rise from the current 20 per cent to 40
per cent by FY17E," a report by Goldman Sachs said. The brokerage is of
the view that potential surprises could come from exploration areas within and
outside Rajasthan, but they may not contribute to the earnings. The production
ramp-up may also face delays due to regulatory approvals, as seen in the past.
Goldman Sachs has revised FY13- 15E earnings by -1.4
per cent to 3.5 per cent as weaker rupee-dollar rates offset marginally higher
costs. It has also lowered its target price to Rs 380 from Rs 390.
"We calculate, the share price is currently
implying long-term Brent oil price of US$78/bbl. We believe the market will
continue to value Cairn on an asset basis with its Rajasthan asset the only
value-driver, leading to a discount on multiples relative to peers," the
report added.
At 01:20 pm, the stock was at Rs 327.40, down 1.68
per cent, on the BSE. It touched a high of Rs 334 and a low of Rs 326.70 in
trade today.
INDIA BUSINESS
Global retail giant Wal-Mart — waiting
for years to open its supermarkets in India — has been lobbying with the US
lawmakers since 2008 to facilitate its entry into the highly lucrative Indian
market.
According to lobbying disclosure reports filed by Wal-Mart with the US Senate, the company has spent close to $25 million (about Rs 125 crore) since 2008 on its various lobbying activities, including on the issues related to "enhanced market access for investment in India".
In the last quarter ended September 30, 2012 itself, the company spent $1.65 million (about Rs 10 crore) on various lobbying issues, which included "discussions related to FDI in India".During the quarter, Wal-Mart lobbied for its case with the US Senate, the US House of Representatives, the US Trade Representative (USTR) and the US Department of State, according to its latest quarterly disclosure report. The companies are allowed to lobby for their cases in various departments and agencies in the US, but they are required to file their lobbying disclosure reports every quarter with the US Senate.
So far in 2012, Wal-Mart has spent more than $3 million or about Rs 18 crore on its various lobbying activities, including those related to India. As per Wal-Mart's lobbying disclosure reports, the company has continuously lobbied for its India entry since 2008, except for a few quarters in 2009.
Wipro to buy Singapore-based skincare company for $144 million
According to lobbying disclosure reports filed by Wal-Mart with the US Senate, the company has spent close to $25 million (about Rs 125 crore) since 2008 on its various lobbying activities, including on the issues related to "enhanced market access for investment in India".
In the last quarter ended September 30, 2012 itself, the company spent $1.65 million (about Rs 10 crore) on various lobbying issues, which included "discussions related to FDI in India".During the quarter, Wal-Mart lobbied for its case with the US Senate, the US House of Representatives, the US Trade Representative (USTR) and the US Department of State, according to its latest quarterly disclosure report. The companies are allowed to lobby for their cases in various departments and agencies in the US, but they are required to file their lobbying disclosure reports every quarter with the US Senate.
So far in 2012, Wal-Mart has spent more than $3 million or about Rs 18 crore on its various lobbying activities, including those related to India. As per Wal-Mart's lobbying disclosure reports, the company has continuously lobbied for its India entry since 2008, except for a few quarters in 2009.
Wipro to buy Singapore-based skincare company for $144 million
Wipro Ltd, India's No.3 software services provider, will
acquire L D
Waxson Group, a Singapore-based consumer goods company, in an all-cash deal
worth about $144 million, the Indian company said in a statement.
The deal, expected to be completed within 60 days,
is valued at 2.1 times the revenue reported by L D Waxson during the fiscal
year 2011-12, according to the statement issued on Saturday.
L D Waxson, which sells skincare and healthcare
products in countries including China, Singapore, Malaysia and Hong Kong, will
be a part of Wipro's stable of consumer care products. In November, Wipro
decided to hive off its non-IT businesses, including consumer care, medical
diagnostics and infrastructure units, into a new unlisted firm, known as Wipro
Enterprises Ltd, to focus exclusively on information technology.
INSURANCE
Oriental
Insurance Company Ltd has been asked by the Delhi State Consumer Commission to
pay Rs 11.63 lakh to the owner of Liberty Cinema hall here as balance of
reimbursement of expenses on repairs of the theatre after a bomb blast on May
22, 2005.
The state
consumer commission observed that the insurance company had "deliberately
and knowingly" refused to pay the balance amount and was "enjoying
the benefit of the use of the fund.
The
commission gave the order dismissing the insurance company's appeal against a
district forum's order to it to pay the remaining amount of repair charges
claimed by the cinema hall owner.
"Out
of the loss assessed by the surveyor, which is Rs 26,20,925.75, the salvage
amount was also deducted and the amount came to Rs 23,40,833. Out of this amount,
Rs 11,85,000 had been paid by the insurance company but it deliberately and
knowingly refused to pay the balance amount of Rs 11,55,833 and by not paying
such a huge amount enjoyed the benefit of the use of the fund.
Having secured
Parliament’s approval for foreign direct investment (FDI) in multi-brand
retail, the government is considering tweaking the planned amendments to
insurance laws to win over opposition parties’ support for reforms in this key
sector.
As per a
fresh plan prepared by the finance ministry, the government plans to propose
keeping the FDI cap in the insurance sector at 26% and allowing another 23% as
foreign institutional investment (FII). Key members of the standing committee
on finance from the Opposition have indicated their willingness to consider
this proposal, which could also speed up listing of insurance companies on the
exchanges.
This
compromise formula is being prepared as the UPA government is bound to face
stiff opposition to an earlier plan to raise the FDI cap insurance to 49% from
26%. The standing committee on finance had opposed any increase in FDI limits
in the insurance sector.
Sources
said the new proposal has the approval of finance minister P Chidambaram, and
the government is trying to securing opposition parties' concurrence on it.
INTERNATIONAL BUSINESS
Tokyo-based technology major Casio has come up with
a Bluetooth enabled smartwatch, GB-6900AA, which displays incoming calls and
mails from an iPhone.
The wristwatch comes with the brand name G-Shock.
The G-Shock wristwatch boasts of the latest
Bluetooth version 4.0, which uses low-power near field communication technology
to interact with an iPhone.
This multi-functional G-Shock wristwatch is powered by a single button type
battery which lasts for two years.
"G-Shock continues to be a leader in
cutting-edge technology for timepieces," said Shigenori Itoh, Chairman and
CEO of Casio's Timepiece Division.
He further said, "With the release of the
Bluetooth LE Smart Watch collection, we are pushing the boundaries of inspired
timepieces for the business savvy, technology conscious consumer.",
reports Forbes.
Hewlett-Packard (HP) India
launched a new multi-function printer with an in-built wireless Internet
hotspot on Tuesday for the price of ₹18,306. The new multifunction printer
dubbed HP
Hotspot LaserJet Pro M1218nfs MFP packs several new features besides the normal
features like print, copy, scan and fax capabilities. The latest printer comes
with the new mobile printing technologies like HP wireless direct, HP ePrint
and Apple AirPrint. The new printer comes in handy for the SOHO or small
business start up with its ease to set up and use.
Apart from this, the printer comes with an inbuilt
wireless hotspot which will allow internet connectivity for up to eight users.
The "plug and print" feature of the printer will install the device
automatically without a CD. "The HP Hotspot is a new all-in-one+1 printer
that completely redefines the role a multifunction printer can play in a SOHO
or small business environment. We are confident that users will deeply
appreciate the ability to print, scan, copy, fax and access Internet wirelessly,
all through a single device that is incredibly easy to set up and use,"
said Nitin Hiranandani, Director-Printing, PPS, HP India, as
reported by Press Trust of India.
On the connectivity front, the printer supports
Hi-Speed USB 2.0 port, one 10/100Base-T Ethernet network port, RJ-11 Telephone
port, Wireless 802.11b/g/n (with hotspot), HP wireless direct, HP ePrint and
Apple AirPrint.
LOGISTICS
APL Logistics and the US-based Vascor have formed a
joint venture to serve supply chain needs of India’s automotive sector. This
collaboration marks the first major international third-party logistics (3PL)
dedicated to the auto sector, said a company official.
The joint venture will be based out of Delhi and
named as APL Logistics Vascor Automotive, according to a joint announcement.
Using their newly designed wagons that can
accommodate a wide range of automobiles, including the fast-growing SUVs, the
joint venture plans to introduce AutoLinxSM, which are rail-based solution for
reliable, damage-free and cost-efficient distribution of finished vehicles and
motorcycles across the country.
Trial runs of AutoLinxSM rail-based wagons will
begin in early 2013 with full-scale operations slated to begin mid-2013
following regulatory approvals, the announcement says.
APL Logistics is a unit of Singapore-based Neptune
Orient Lines, a global cargo transportation and logistics company while Vasco
is a joint venture of Singapore-based supply chain management leader APL
Logistics and Fujitrans Corporation of Japan. The latter offers 3PL to
automotive companies in US and Mexico.
In India, APL Logistics’ international expertise is
complemented by its inter-modal rail capability through IndiaLinxSM, which
operates, dedicated container train services to northern India’s hinterland.
ATCO Structures & Logistics announced today that
it has signed a Memorandum of Understanding (MOU) with the Naha Dehé Dene Band
(NDDB) to jointly pursue resource development opportunities and commercial and
industrial projects within the traditional lands of the NDDB. Nahanni Butte is
located 200 km southwest of Fort Simpson, NWT.
"We look forward to working with the Naha Dehé
Dene Band on several projects in their traditional territory," said Harry
Wilmot, President & Chief Operating Officer, ATCO Structures &
Logistics. "We are confident that this MOU is the beginning of a long and
mutually successful partnership in a wide range of areas including resource
development and commercial buildings."
This MOU is the initial step in the development of a
business arrangement that establishes the responsibilities of the parties, the
allocation and distribution of profits, education and training opportunities,
and the development of management and administrative capacity within the
community.
"The Naha Dehé Dene Band is very excited to
enter into this partnership with ATCO and looks forward to building a strong,
productive and mutually beneficial working relationship," said Chief
Clayton Konisenta of the Naha Dehé Dene Band. "This partnership will help
our community to benefit from the resource development opportunities on our
traditional lands over the next decade."
MANAGEMENT
The new management of 3i Infotech—a
ICICI-controlled software firm that went in for corporate debt restructuring
earlier this year—is implementing a plan that is expected to return the
company to profitability in the next six to 12 months.
The new CEO Madhivanan Balakrishnan and chief
financial officer Charanjit
Attra are looking to cut costs by consolidating facilities and reducing
unnecessary travel at the Mumbai-based company that was forced to go in for a CDR after defaulting
on foreign bond payments. "We expect a turnaround and a return to net profits
in the next six to twelve months following a three-phase strategy of protect,
consolidate and grow," Attra told ET. "We are now in the consolidate
phase."
The software products and services company was hurt
by several acquisitions, some of which were funded through external borrowings.
"3i Infotech lacked focus and was trying to
address several disparate opportunities at the same time, which unfortunately
did not work out," said Ankur Rudra, vice-president at Ambit Capital
In the September quarter, 3i Infotech's revenues
grew 26% to Rs 340 crore and net losses stood at Rs 191 crore, down/up . The
company also had debt of Rs 2,300 crore on its books, with lenders now owning
62% of the company.
Attra was earlier heading the structured finance
division of ICICI
Securities and was also its CFO, while Balakrishnan was ED of ICICI
Prudential Life.
Global logistics and express shipper DHL will be the
first tenant in IndoSpace
Chakan, 100-acre industrial and logistics park in Pune that was developed
at a cost of Rs 400 crore by Realterm Everstone Development Management,
according to a top company executive.
Realterm
Everstone Development Management is a joint venture between North
America-based industrial real estate
developer Realterm Global and private equity firm Everstone Capital, and the
company plans to have the Pune-based Park entirely operational by end-2013.
"The project will develop about 1.7 million square feet, " Brian
Oravec, managing partner at Realterm Everstone said.
Realterm Everstone projects are typically spread
across 100 and 150 acres of land, encompassing between 1.5 and 2.5 million
square feet, and with an average development cost of about Rs 400 crore,
according to Oravec.
The company expects to have an additional eight or
nine industrial and logistics parks operational in a phased manner by the end
of the next calendar year. It is currently developing 11 projects spread across
Chennai, Pune and Delhi, among others. ""Our view is that there is a
significant demand for modern, organised real estate space, and there is much
more demand than supply, which we expect to continue in the foreseeable
future," Oravec said.
MARKETING
CoreMotives,
a Silverpop company, has launched a new integration that ties revenue-tracking
capabilities embedded in its CRM system to the Ticketmaster sales application.
The upshot is that teams that use Ticketmaster to market tickets can also
easily track which campaigns actually led to a sale. In short, it helps
marketers easily connect specific digital marketing efforts to ticket sales,
CoreMotives cofounder Rhett Thompson told CRM Buyer.
Most email marketing and CRM applications have
tracking capabilities.
"With an email marketing system, you can see
who opens an email or clicks on a particular link," Thompson said.
"But the whole process is disconnected from the ticket purchase process
because they are two separate systems. What we have done with this integration
is connect the CRM system with the point-of-sale process."
Revenue attribution and being able to identify which
marketing channels are having a conversion effect are important missing pieces
in many sales and marketing applications, he added. CoreMotives is working on
expanding its efforts in this area.
Marketing is an important aspect of any business.
This would ensure that the enterprise would be seen and known by their target
market all over the world. Without it, the business would surely crumble easily
like an over baked cookie. Proper investment in advertising and marketing would
be the best solution for business owners to easily have a successful business.
Large enterprises have a huge selection of mediums
to utilize for the marketing strategies. This is because they are already
equipped with a huge capital and a lot of manpower. However, small businesses
are not as lucky as the large companies. They only have a small capital and a
handful of employees. It would be difficult for them to utilize every possible marketing
tool that is available in the market.
Luckily, there are a lot of mediums where small
business owners can add in their advertising and marketing strategy. Some of
them are already considered as traditional, some are new that are actually not
for that purpose. Business owners should only be aware of these mediums and
take time to consider them to increase their business’ market presence.
ODISHA BUSINESS
Odisha government today said the state has achieved
steel production capacity of 12.66 mtpa and will generate a minimum 77.16 mtpa
of steel after commissioning of projects for which 49 MoUs have been signed
with corporates.
"Different companies have set up their projects
and achieved the steel production capacity of 12.66 mtpa," Odisha Steel
and Mines Minister R K Singh said while replying to a question in the Assembly.
"Odisha will generate at least 77.16 mtpa of
steel after commissioning of all the 49 MoUs signed with companies," the
minister said. Of the 49 companies which signed
MoUs with the state government for establishment of integrated steel plants, 30
companies have gone to different stages of production, the minister said.
Bhusan
Power & Steel Limited which was establishing a 2.8 mtpa steel plant at
Lapang in Sambalpur district, had meanwhile been able to achieve production of
2.4 mtpa steel so far, the minister said adding that the company was also
generating 116 MW power from its captive power plant.
Unable to secure bauxite despite concerted efforts,
the Vedanta group today said it has shut down its one million tonne alumina
refinery at Lanjigarh in Odisha’s Kalahandi district.
“We are forced to close down the Lanjigarh refinery
due to depletion of stock of bauxite. Despite efforts over the past three
months, we were unable to ensure sustainable supplies,” CEO of Vedanta
Aluminium Mukesh Kumar told PTI over phone.
“For the last few days, we ran the unit at around 20
per cent of capacity incurring heavy loss,” Kumar said.
The bauxite stock was ‘almost zero’, a senior
Vedanta official said.
The mining conglomerate, which runs the refinery of
Vedanta Aluminium Ltd (VAL), had given a closure notice to the Odisha
government on September 5 on shutting operations from December 5, citing severe
shortage of bauxite as the main reason.
Stating that 10,000-11,000 tonne of bauxite was
required per day for normal functioning of the refinery, Kumar said the company
explored several sources outside Odisha, but failed to secure more than 3,000
tonnes daily.
Though the company’s top management met Odisha Chief
Minister Naveen Patnaik and chief secretary several times for bauxite for the
refinery, no solution could be found, he said.
RETAIL
As both Houses of Parliament cleared the way foreign
direct investment (FDI) in multi-brand retail, the mood of commercial real
estate developers, who were facing a tough time building and renting out malls,
is expected to look up. A revival of investment plans is on the cards. The
supply of
rental spaces across India recorded a drop of 65% in 2012 from the previous
year, according to a report by real estate consultancy Jones Lang LaSalle.
Industry
trackers say real estate developers, who were postponing or cancelling plans to
construct malls and other retail spaces in the current fiscal year are now
expected to launch projects in 2013-14 to capitalise on the FDI approval that
is expected to bring in international retail chains such as Wal-Mart, Tesco and
Carrefour.
"FDI
in multi-brand retail will increase demand for space. In India, per capita mall
space among top seven metro cities is estimated at less than one square foot,
while the US and Europe average 20-40 times that of India," said Subhasis
Roy, national director for retail at property consulting firm Knight Frank
India.
In the
past five years, commercial and retail real estate developments were put on
hold as rents stayed stagnant, dampening chances of good returns on investment.
This was especially true for retail, in which realtors had even converted some
projects to residential schemes.
As consumers start fancying neighbourhood
supermarkets to pick up their daily groceries and other needs, many big retail
brands are favourably eyeing the tier II markets such as Pimpri-Chinchwad to
ensure a stable growth.
Organised retail is fast expanding in upcoming smaller
markets such as Pimpri-Chinchwad that already has outlets of brands such as
More, Big Bazaar among others. Brands such as Spencer's, Reliance, Auchan from
Max Hyper-markets are expanding rapidly in Pune. More, which is a part of the
Aditya Birla Retail Ltd, has expanded its presence in Pune region inclusive of
Pimpri-Chinchwad, with around 16 supermarkets in the area and are planning to
expand further. "Areas such as Pimpri-Chinchwad, Talegaon have become
extended cities of Pune. They form an important part of our marketing strategy,
and we see ample business opportunity to expand in these areas," says
Vishak Kumar, CEO of the supermarkets segment for More.
The parent company will be investing more than Rs 20
crore in the next five years in Pune, Pimpri-Chinchwad belt on stores apart
from further investments on store technology, distribution chains among other
things.
SUPPLY CHAIN
The government has today launched a Nuclear Supply
Chain Action plan, announcing that 500 new jobs are to be created at Sellafield
and promising that the revival of the UK's nuclear industry will result in
thousands of new jobs.
But the launch of the plan was overshadowed by news
that proposals for a new fleet of French nuclear reactors were dealt a major
blow yesterday, after Italian utility Enel announced that the latest round of
cost overruns meant it was exiting its partnership with energy giant EDF to
deliver the flagship Flamanville 3 European Pressurized Reactor (EPR) in
Normandy. French utility EDF had confirmed earlier in the week that cost
estimates for the troubled project had risen by a further €2m to €8.5bn.
The company stressed the facility was scheduled to
come online in 2016 and confirmed that 93 per cent of the civil engineering and
36 per cent of the electro-mechanical equipment was now in place.
Amid growing concerns about malware threats in the
IT supply chain, the Defense Advanced Research Projects Agency is looking for
ways to test commercial products on a large scale to make sure they’re “clean.”
DARPA has launched the Vetting
Commodity IT Software and Firmware (VET) program to find methods of
ensuring that the commercial IT products the Defense Department buys, ranging
from smart phones to routers, are free of backdoors, malicious code and other
potential threats.
Supply-chain security has come to the fore recently,
with a congressional intelligence panel warning that the United States “should
view with suspicion” the growth of Chinese telecommunications companies in the
U.S. market. A recent report by the Georgia Tech Information Security Center
and Georgia Tech Research Institute identified
supply chain threats as a serious, and hard to detect, threat.
Back doors, spyware and other malicious code could
theoretically be designed into products or added by a manufacturer, vendor or
integrator.
DARPA’s VET program wants to test products before
they’re installed, which would seem to be a pretty big job.
“DOD relies on millions of devices to bring network
access and functionality to its users,” Tim Fraser, DARPA program manager, said
in a statement. “Rigorously vetting software and firmware in each and every one
of them is beyond our present capabilities, and the perception that this
problem is simply unapproachable is widespread. The most significant output of
the VET program will be a set of techniques, tools and demonstrations that will
forever change this perception.”
______________________________________________________________________
Source of
Information for this issue: Google alert accessed on 10th, 13th and 14th Dec 2012
We welcome your
suggestions in improving this information updating service.
Knowledge
Is Power. Be Informed, Be Knowledgeable, Be Powerful.
Best wishes
Compilation
Sabita Sahu
Sabita Sahu
Professional Library
Trainee
Concept, Layout and
Editing
Syamaghana Mohanty
Chief Librarian
Chief Librarian
Information and
Documentation Division, Chanakya Central Library
Asian School of
Business Management
Shiksha Vihar Bhola,
Barang Khurda Road,
Chandaka
Bhubaneswar-754012
Tel:0674-2374832, 2374833
Sabita Sahu : Professional Library Trainee and Syamaghana Mohanty : Chief Librarian, Knowledge and Information Services Unit, Chanakya Central Library, Asian School of Business Management, Bhubaneswar. chieflibrarian@asbm.ac.in ; www.asbm.ac.in
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