ASIAN BUSINESS
Tech-heavy South Korean shares dragged down the
broader Asian share index today on fears of weaker earnings, but improving
economic prospects in Europe and solid US profit reports underpinned sentiment.
The MSCI’s broadest index of Asia-Pacific shares
outside Japan inched down 0.2 per cent, after seeing its biggest weekly loss in
two months last week. Asian markets were in positive territory except in Seoul
and Jakarta.
The Korea Composite Stock Price Index (KOSPI)
extended losses to an 8-week low with a 0.6 per cent slip, as a weakening yen
soured the outlook for local exporters and foreign investors reduced their
holdings.
Tech-heavy South Korea was also vulnerable to a
clouding outlook for high-end smartphone device shipments.
“Investors have begun preempting concerns about
exporters’ outlooks since automakers announced weak earnings last week, while
large-caps continue to be pressured by foreign selloffs,” said Kim Hyung-ryol,
an analyst at Kyobo Securities.
Global investor sentiment improved on Friday when
the German Ifo business morale index improved in January to its highest in more
than half a year, further evidence that Europe’s largest economy is gathering
speed again, and European banks were set to repay the European Central Bank a
larger sum of money than expected to underscore stabilising financial system in
the euro zone.
In China, data yesterday showed profits earned by
industrial companies rose 17.3 per cent in December from a year earlier to
895.2 billion (RM438 billion), adding to evidence of a fourth-quarter economic
recovery.
Rupert Murdoch-promoted News Corporation, which is
in middle of restructuring the sports business in Asia, has decided to keep the
sports broadcasting business under its Indian subsidiary STAR
India.
The process has started after News Corp has bought
out Walt Disney's 50% stake the Asian broadcasting joint venture ESPN
Star Sports (ESS), for $335 million. Intrestingly,
in rest of Asian countries, the ESS business will be under Fox
International Channels (FIC).
STAR India
COO Sanjay Gupta had told Business Standard that the formal change in India
will take some time and it is expected before June this year. Competition
Commission of India (CCI) has already cleared the acquisition in September last
year.
Meanwhile,
it is understood that even if it will be a part of STAR India, the sports
business will continue to function as a separate entity. The Indian subsidiary
of ESS, ESPN Software India Pvt Ltd (ESIPL) has a separate team under Aloke
Malik as its MD. As per sources, the ad sales, marketing and distribution teams
will work with the STAR India.
Recently,
Amit Chopra, former Hindustan Media Ventures Ltd CEO, had joined STAR India
under Gupta to oversee sports business. STAR India had last year acquired the
all media rights of BCCI till 2018 for a whopping Rs 3851 crore.
In rest of
Asia, ESS renamed ESPN as Fox Sports. In a statement, it said beginning January
28, the ESPN networks will be renamed as Fox Sports networks across various
affiliate platforms in Asia. News Corp had named Peter Hutton, SVP of FIC
Sports as Managing Director of ESS last year.
ASIAN MANAGEMENT
President Obama's "pivot" to Asia was
perhaps the signature foreign policy of his first term. Despite questions about
the significance of the rebalancing and its specifics, the president and his
team repeatedly asserted to allies and partners that Washington's commitment to
Asia would increase, while at the same time they attempted to reassure Beijing
that the policy was not designed to contain China.
Execution of the pivot will now fall largely to John
Kerry and Chuck Hagel, whom Mr. Obama has nominated to become secretaries of
state and defense, respectively. Yet questions remain over whether their likely
policies will bring greater stability to the region.
A significant problem is that both seem rather
muddled when it comes to Asia and America's role in the continent's
affairs—when they focus on Asia at all. Witness the sometimes contradictory
views both have held over their careers. Mr. Kerry, whose role as chairman of
the Senate Foreign Relations Committee has thrust him more into the spotlight
on international affairs, has recognized the mistrust between Washington and
Beijing, and has criticized China's unwillingness to do more to respond to
North Korea's provocations. Yet he also said in a 2011 Senate floor debate that
China would "surpass" the United States, and that the two countries
"need" each other. He has maintained his belief that America and
China can "pool" their strengths to resolve issues such as Iran's illicit
nuclear activities.
Hedge
fund managers in Asia are bullish about their prospects in 2013 in the light of
positive performance in 2012, according to Eurekahedge chief executive,
Alexander Mearns.
Mearns was quoted by a regional publication as
saying, "There were, and continue to be, substantial gains to be made
through inefficient prices within the ASEAN region for those who look hard
enough."
According to the latest data, the Eurekahedge Asia
ex-Japan Hedge Fund Index posted 11.5 per cent gains last year as against the
MSCI Asia ex-Japan, which rose 19.4 per cent during the same year.
According to Mearns, many of Asia’s long/short equity
fund and multi-strategy funds made money in 2012 "by maintaining a long
bias in their portfolios."
This year, Mearns said Eurekahedge expects positive
net inflows into Asian hedge funds given strong returns in 2012.
Earlier this month, research firm Cerulli Associates
reported that Asian fund managers believe pension funds will be the most
profitable institutional business followed by central banks and
quasi-government agencies, moving forward.
ASIAN SCHOOL OF BUSINESS MANAGEMENT
PGDM (Post Graduate Diploma in Management) offered
by ASBM, which is duly approved and recognized by AICTE, has received the rare
distinction of accreditation for
its quality education by National Board of Accreditation (NBA), Govt. of India,
for a period of 03 (three) years with effect from 04th of
January, 2013 for its quality education. The status of accreditation has been
communicated by NBA vide their letter No.F.No.30-10/2010-NBA dated 28th January,
2013.
BANKING
State Bank of Mysore’s (SBM) profits rose 39.50 per
cent to Rs 154.77 crore in the third quarter of the current fiscal.
The bank’s total income was up 13.19 per cent to Rs
1,616 crore. EPS stood at Rs 33.07 compared with Rs 23.70 recorded last year.
SBM’s asset quality improved with percentage of
gross non-performing assets (NPA) to gross advances at 3.99 per cent (3.67 per
cent). Gross NPA for Q3 stood at Rs 1,772.36 (Rs 1,396.70 crore) and percentage
of net NPA to net advances stood at 1.95 per cent (1.73 per cent). Return on
asset (ROA) annualised stood at 0.98 per cent (0.80 per cent).
The bank’s net interest income increased 11.35 per
cent to Rs 461 crore (Rs 414 crore). Net interest margin (NIM) was higher at
3.27 per cent from 3.23 per cent.
Looking to further expand operations, Kotak Mahindra
group is looking for potential acquisition targets in banking, asset
management, broking and other areas of financial services sector and hopes to
strike a deal thisyear.
"We are looking for attractive acquisition targets and hopefully there would be some deal this year," the group head and eminent banker Uday Kotak told PTI in an interview here.
Mr Kotak, whose group is present in various segments of financial services industry including banking, insurance, asset management, broking and equity research, was in this Swiss ski resort town for the World Economic Forum (WEF) annual meeting that ended yesterday.
Asked about the geographies where the group was looking for acquisitions, Mr Kotak said: "We are mainly looking domestically (within India) for potential acquisition target." About the businesses where potential acquisitions could be explored, he said the group is looking at various opportunities across various sectors.
"There is nothing that has crystallised as yet, but we are looking across various segments including banking, asset management and other areas of financial services like broking as well," Mr Kotak said.
Mr Kotak had set up erstwhile Kotak Capital Management Finance Ltd, which later became Kotak Mahindra Finance Ltd, in 1985. Later in 2003, it became the country's first non-banking finance company to be converted into a bank - Kotak Mahindra Bank.
"We are looking for attractive acquisition targets and hopefully there would be some deal this year," the group head and eminent banker Uday Kotak told PTI in an interview here.
Mr Kotak, whose group is present in various segments of financial services industry including banking, insurance, asset management, broking and equity research, was in this Swiss ski resort town for the World Economic Forum (WEF) annual meeting that ended yesterday.
Asked about the geographies where the group was looking for acquisitions, Mr Kotak said: "We are mainly looking domestically (within India) for potential acquisition target." About the businesses where potential acquisitions could be explored, he said the group is looking at various opportunities across various sectors.
"There is nothing that has crystallised as yet, but we are looking across various segments including banking, asset management and other areas of financial services like broking as well," Mr Kotak said.
Mr Kotak had set up erstwhile Kotak Capital Management Finance Ltd, which later became Kotak Mahindra Finance Ltd, in 1985. Later in 2003, it became the country's first non-banking finance company to be converted into a bank - Kotak Mahindra Bank.
BUSINESS
South
Korean tech giant LG Electronics said it expects India sales to grow by 20% in
2013, riding on robust performance by its home appliances division and surging
demand across rural markets.
The company, however, is expected to close the year 2012 with a low single-digit rise in
The company, however, is expected to close the year 2012 with a low single-digit rise in
revenues
due to a general slowdown in India’s economy that resulted in sluggish demand.
LG India’s revenues for calendar year 2011 stood at R16,000 crore and the
company is expected to announce its revenue figures for 2012 over the next few
days.
“We expect
our business to grow by 20% during 2013. Our growth drivers will be our strong
product portfolio of home appliances and LCD appliances,” said LG Electronics
India managing director Soon Kwon.
Kwon was
speaking at the launch of company’s new range of refrigerators equipped with a
patented “Power Cut Evercool Technology” that keep food cool for seven hours
after a power cut.
LG
Electronics India rolled out a range of 39 refrigerators in the category,
priced between Rs. 12,850 and Rs. 41,300.
“With this new series, we expect the
refrigerator division to grow at a rate of 20% and are targetting a turnover of
Rs. 5,300 crore. We aim to have a market share of 38% in the segment by the end
of 2013,” said LG Electronics India director (home appliances) YV Verma.
Finance
minister P Chidambaram will inaugurate equity trading platform of the MCX-Stock
Exchange (MCX-SX) on February 9.
The exchange, which will compete with other full-fledged nationwide stock exchanges like Bombay Stock Exchange (BSE) and National Stock Exchange, will commence
The exchange, which will compete with other full-fledged nationwide stock exchanges like Bombay Stock Exchange (BSE) and National Stock Exchange, will commence
live
trading in equities from February 11.
“Inauguration
of MCX-SX equity segment will be a significant milestone not only for MCX-SX
but for the entire nation,” said Jignesh Shah, vice-chairman, MCX-SX. “Our
exchange adds a new dimension to the exchange evolution by embedding growth and
inclusion that are so critical for a country like India.”
MCX-SX is
providing trading platform for currency derivatives segment at present and
would become a full-fledged stock exchange after the launch of other segments
like equity, equity derivatives, bonds and interest rate derivatives.
BUSINESS COMMUNICATION
The buzz on Capitol Hill is economic reform, but
what impact does the economy have on the public relations sector?
As social media continues to gain legitimacy as a
key platform to interact with customers and constituents, companies are
experiencing the need for solid communications planning and those with the
skills to implement the tactics. Public relations budgets are increasing at a rate outpacing
the GDP growth. Despite the negative economic media coverage, many businesses
are expanding at a fast pace, so building a brand that can sustain such rapid
growth is of utmost importance.
The focus on economy and legislation aimed at producing
company transparency means many C-level executives are leading their companies
from the front lines. The need for solid communications management is critical
externally but also internally.
“Most business leaders aren’t aware of the full scope of the PR/communications
function and the breadth of skills their team should have” stated our very own
Paula Lovell in a recent Q &A with Nashville Post. “It’s not just about media
relations. PR is a strategic business function that should coordinate with
marketing and sales, and it can have significant impact on the bottom line.”
BUSINESS
MANAGEMENT
Foursquare has launched a new mobile app aimed at
making it easier for the 1 million business owners using the service to connect
and share news with customers.
The Foursquare for Business app is designed to give
merchants a suite of tools to keep in touch with the 30 million people who use
Foursquare right from their phone, the location-based social network said.
"When you're running around on the floor, it's
hard to hop on a computer and post your latest happenings, like the spring
collection that just arrived or your newest menu item," the company said
today in a blog
post announcing its launch.
With the new app, businesses can easily cross-post
Foursquare updates to their Facebook and Twitter networks at the same time, and
can also use the app to see recent check-ins, turn specials on and off and look
at business data such as likes and top customers, the company said.
Several screen shots of how the app could be used
were posted by Foursquare to its blog. One image, for instance, showed a post from
The Gap announcing the in-store availability of a new style of pants, inviting
customers to check in.
Foursquare's tools for merchants can be used by a
variety of businesses whether it be a mom-and-pop shop or a national chain, the
company claims.
But even if the new app's functionality seems
relatively basic for Foursquare, which launched in 2009, it is still a powerful
tool, said Daina Middleton, author of "Marketing in the Participation
Age" and global CEO of Performics, a Chicago-based performance marketing
agency.
Elliott
Management Corp. confirmed it is seeking five seats on Hess Corp.'s (HES) board
in order to push the company to separate its assets in the oil-rich Bakken
Shale region from less prolific international assets.
In a
letter to shareholders released Tuesday, Elliott Management said New York-based
Hess has been weighed down by an expensive international portfolio, has poured
money into ill-conceived operations and executed poorly. Elliott, which own 4%
of Hess's common stock, said that the company should spin off its U.S. shale
assets, including stakes in the prolific Bakken Shale in North Dakota, into a
new company and streamline its remaining international assets.
"Buried
within Hess Corp. is one of the premier U.S. resource play-focused
companies," Elliott wrote.
Activist
investors have had energy companies in their sights in recent months, demanding
more stringent oversight, more disciplined capital spending, and the removal of
less profitable assets such as refineries and retail divisions. But Elliott's
demands also highlight an emerging theme--the creation of value by focusing on
highly-profitable U.S. oil shale operations, rather than the wide diversity of assets
that has long been favored by integrated oil companies.
INDIA BUSINESS
A textile industry in churn and lack of attractive
offers have forced Reliance Industries (RIL) to drop the sale of its textile
unit, including the once iconic brand 'Only Vimal', said a person aware of the
matter.
Reliance Industries had mandated UK-based advisory firm NM Rothschild to find a buyer for the textile unit but a challenging business environment for textiles deterred companies from placing attractive bids, prompting India's largest private sector to pull back the sale process. The Indian textile sector has witnessed no M&A action in recent years. The two last prominent deals were the acquisition of OCM by distressed buyout fund Wilbur Ross and the merger between Indo Rama Textiles and Spentex Industries. Wilbur Ross, struggling to turnaround OCM, was not interested in the Vimal brand. The Vimal brand, which still has a latent recall, became a household name in the 1980s and was the first to use international cricketers like Vivian Richards as brand ambassadors.
Labour troubles and a cyclical business were seen as reasons behind RIL's move to consider sale of the ailing textile business. RIL laid its foundation with textile business before becoming a formidable energy player, with refining and petrochemicals contributing 90% to its revenues of $67 billion. RIL launched Vimal brand in 1966, named after founder Dhirubhai Ambani's nephew.
Reliance Industries had mandated UK-based advisory firm NM Rothschild to find a buyer for the textile unit but a challenging business environment for textiles deterred companies from placing attractive bids, prompting India's largest private sector to pull back the sale process. The Indian textile sector has witnessed no M&A action in recent years. The two last prominent deals were the acquisition of OCM by distressed buyout fund Wilbur Ross and the merger between Indo Rama Textiles and Spentex Industries. Wilbur Ross, struggling to turnaround OCM, was not interested in the Vimal brand. The Vimal brand, which still has a latent recall, became a household name in the 1980s and was the first to use international cricketers like Vivian Richards as brand ambassadors.
Labour troubles and a cyclical business were seen as reasons behind RIL's move to consider sale of the ailing textile business. RIL laid its foundation with textile business before becoming a formidable energy player, with refining and petrochemicals contributing 90% to its revenues of $67 billion. RIL launched Vimal brand in 1966, named after founder Dhirubhai Ambani's nephew.
India has finalized an agreement for 99 GE 414
engines to power its indigenous Light Combat Aircraft. This is the first, and significant, engine contract for GE
Aviation to power fighter jets for India and the LCA will be the first combat
aircraft in the inventory of the Indian Air Force (IAF) and Indian Navy with
engines from the US. Both services have US-made transport aircraft though and
all the three US engine majors, GE, Honeywell and Pratt & Whitney have
supplied power units for them.
DRDO
Director General (and Scientific Adviser to the Defence Minister) V.K. Saraswat
told India Strategic (www.indiastrategic.in) in an interview that the agreement
with GE was signed recently, and that he expected the aircraft to be a success
for both the IAF and the Indian Navy.
The IAF
has used Fairchild Packets in the 1960s, has Lockheed Martin C 130Js now and is
set to get Boeing C 17 Globemasters beginning this year. The Navy used the
Lockheed Super Constellations for maritime reconnaissance. They are all
transporters.
GE won the
contract for its F414-GE-INS6 afterburner turbofan engine in September 2010
with a narrow margin against a competing bid by the European Eurojet EJ 200.
It has
taken nearly two years for the Aeronautical Development Agency (ADA) of the
Defence Research and Development Organisation (DRDO), which had selected the
engine, to work out details like how and how much of the engine will be
produced in India. A production contract is now being worked our between GE
Aviation and HAL, which will manufacture them, in this regard.
INDIA MANAGEMENT
THE MINISTRY of Agriculture and Animal Resources has
signed a Memorandum of Understanding with the Indian government to promote
cooperation in water resource management with a focus on irrigation and
capacity building.
The pact was signed on Tuesday by Agriculture
minister Dr. Agnes Matilda Kalibata, and the Indian Union Minister of Water
Resources Harish Rawat in New Delhi where the minister had been invited.
The signing of the MoU was witnessed by the Rwandan
High Commissioner to India, Williams Nkurunziza and Indian government
officials.
The MOU sets up a joint commission composed of
technical staff from both countries that will be charged with follow up of
planned activities, a statement from the ministry says.
A first Joint Commission meeting of both technical
teams will take place late March to identify and agree on projects and
programmes that will form the basis of sectoral cooperation.
INSURANCE
Bajaj Allianz General Insurance has launched an app named
'Eezee Tab' on the Android based platform to instantly issue or renew motor insurance policies as well as register claims. This app
comes with a device which can accept payments by credit or debit cards, said a
press release issued by the company. This will eliminate the risk of cheque
loss during transit and delays due to technical problems associated with
correction in cheque payments. Once the card is accepted, premium gets debited
from the cardholder's account and the policy gets issued instantly. In case the
customer needs a printout of the policy, then the same can be taken through a
wireless printer. Along with the facility to issue
policies, Eezee
Tab also comes with a claim registration module. This facility will
allow the user to register low intensity claims and upload photographs of the
accidental vehicle thus providing quicker claim settlements.
Tapan
Singhel, MD and CEO, Bajaj Allianz General Insurance says, “In the first phase,
we plan to distribute ‘Eezee Tab’ app to our agents who can use it to collect
premiums from customer’s credit or debit cards and issue the policy instantly.
This will also help them to give door step service to their customers.
Presently motor insurance which forms the bulk of retail policies will be
issued through this app and device and very soon extended to other retail
insurance products”.
Ashland Inc. said Tuesday its fiscal first-quarter
net income jumped 66 percent, boosted by a gain related to an insurance
settlement.
For the quarter ended Dec. 31, the Covington,
Ky.-based chemical company earned $101 million, or $1.26 per share, compared
with $61 million, or 77 cents per share, in the same quarter last year.
Excluding one-time items, including a $13 million
after-tax benefit related to a business interruption insurance settlement, the
company posted adjusted profit from continuing operations of $1.12 per share
for the recent quarter.
Revenue fell 3 percent to $1.87 billion, hurt by
soft demand in some key markets and regions.
The results fell short of Wall Street expectations.
Analysts, on average, expected a profit of $1.38 per share on $1.9 billion in
revenue, according to FactSet.
The recent quarter's results included $31 million in
losses related to a drop in the value of inventories of certain products at its
specialty ingredients business. Sales at that business fell 1 percent to $622
million.
Meanwhile, water technologies sales dropped 6
percent to $421 million and sales of performance materials dropped 9 percent to
$345 million. Consumer sales increased 1 percent to $481 million.
INTERNATIONAL
BUSINESS
Halliburton Co., the world’s second- largest
oilfield-services provider, reported fourth-quarter earnings that beat
analysts’ estimates as customers around the world boosted spending at the end
of the year. Shares rose the most in more than a year.
Excluding discontinued operations, the Houston-based
company earned 63 cents a share, 2 cents higher than the average of 33
analysts’ estimates compiled by Bloomberg. Sales climbed 3.2 percent to $7.3
billion, which was more than the average of 24 analysts’ estimates.
Halliburton, which generated 56 percent of its sales
in North America last year, is increasing its international operations to take
advantage of increased oil-company spending globally.
“Across the board they did better than expected,”
Stephen Gengaro, an analyst at Sterne Agee & Leach Inc. in New York, who
rates the shares a buy and owns none, said today in a telephone interview. “We
expected declines in North America. They just didn’t decline as much as
expected.”
Halliburton rose 4.5 percent to $39.51 at 11:32 a.m.
in New York, after climbing as much as 6.5 percent, the biggest intraday rise
since Dec. 20, 2011.
India’s Sensex is
expected to rise on Monday as investor confidence is likely to be lifted amid
upbeat economic indicator from China.
Profits earned by China's
industrial companies surged in December, indicating an improvement in the
economic condition of the worlds’ second largest economy. According to data
released on Monday by the National Bureau of Statistics of China, the net
income of industrial companies in the country rose 17.3 percent in December
compared to the same month of the previous year following an increase of 22.8
percent in November.
On Monday, Hong Kong's Hang Seng gained 0.60
percent, or 141.61 points, to 23722.04. Among major gainers were Swire Pacific
Ltd (0.55 percent) and HSBC
Holdings plc (0.90 percent). On Friday, the US stocks gained as investor
confidence was lifted amid encouraging earnings reports from corporates. Procter
& Gamble Co (NYSE:PG)
reported that the company’s net earnings rose to $4.06 billion or $1.39 per
share in the second quarter, up from $1.69 billion or $0.57 per share in the
same period the earlier year. The consumer goods giant also raised its outlook
for revenue growth for the fiscal year 2013.
LOGISTICS
Indonesian Logistics Association (ALI) has predicted
that logistics costs in the country will increase by about 3 percent this year
following a rise in port fees resulting from port operators’ service expansion.
ALI chairman Zaldy Masita said that logistics costs, which currently account for 17 percent of the price of most goods, would rise to 20 percent. The percentage is among the highest in Southeast Asia, in which average logistics costs stand at around 10 percent.
“This is an irony. Better port services are supposed to help boost efficiencies that will eventually push down logistics costs. It appears that Indonesia lags behind countries in the region in the logistics sector,” Zaldy told The Jakarta Post.
Indonesia’s logistics performance is one of the poorest among ASEAN countries. It ranks 59th out of 155 developing and high income economies included in the World Bank’s 2012 logistics performance index, far below the Philippines and Vietnam.
State-owned port operator Pelindo I has recently increased terminal handling costs in Belawan Port, North Sumatra by 14.3 percent to Rp 650,000 (US$62.4) per 20-foot equivalent unit (TEU) container.
Meanwhile, Pelindo II, also known as the Indonesian Port Corporation (IPC), plans to increase cargo handling costs by 82.8 percent to Rp 500,000 per TEU in Pontianak Port, West Kalimantan.
ALI chairman Zaldy Masita said that logistics costs, which currently account for 17 percent of the price of most goods, would rise to 20 percent. The percentage is among the highest in Southeast Asia, in which average logistics costs stand at around 10 percent.
“This is an irony. Better port services are supposed to help boost efficiencies that will eventually push down logistics costs. It appears that Indonesia lags behind countries in the region in the logistics sector,” Zaldy told The Jakarta Post.
Indonesia’s logistics performance is one of the poorest among ASEAN countries. It ranks 59th out of 155 developing and high income economies included in the World Bank’s 2012 logistics performance index, far below the Philippines and Vietnam.
State-owned port operator Pelindo I has recently increased terminal handling costs in Belawan Port, North Sumatra by 14.3 percent to Rp 650,000 (US$62.4) per 20-foot equivalent unit (TEU) container.
Meanwhile, Pelindo II, also known as the Indonesian Port Corporation (IPC), plans to increase cargo handling costs by 82.8 percent to Rp 500,000 per TEU in Pontianak Port, West Kalimantan.
Adams
Warehouse & Delivery is utilizing an EDI
Computerized Inventory Tracking System to keep their client’s items
accounted for at all stages in the logistical process. Logistics companies need to know where each and
every item is located from the time the shipment enters the warehouse, to the
time it reaches its destination. Before the materials are moved into the
warehouse, it is the job of logistics companies like Adams, to check for
quality and accuracy as per the specifications laid out in the
planning phase.
Adams
Distributing is one of the logistics companies that adheres to its own
strictly enforced logistics planning system. When an order is made, it is
entered into their computerized system, and is routed to an account manager,
who makes sure that the products are received into the warehouse safely, and in
tip-top condition.
The
company reports that it offers dock height services, and rail services, at all
three of their warehouses. Every logistics consideration has been anticipated
by Adams with the availability of climate controlled space, dry space, outdoor
storage and even FDA Approved Clean Rooms. Adams Management explains that they
develop cost-effective logistics chain plans for storage using their flexible
racked and floor storage cross dock distribution.
The
additional logistics services run the full gamut from picking, packing,
packaging, kitting and full dock height services, all the way to having items
pick packed or shrink wrapped. All of these services are traditionally performed
prior to warehousing. Any pallet product can be repacked at the same time.
MANAGEMENT
IBM will launch before midyear several new and
improved collaboration and communication products, including a new suite for
human resources tasks and a major upgrade of its Connections enterprise social
networking product.
The company, which will unveil the products at its
Connect 2013 conference in Orlando on Monday, will also announce improvements
to its enterprise social suite for marketers.
The upgrade to its IBM Connections enterprise social
networking platform will feature new analytics features so that administrators
can monitor usage, such as collaboration trends among employees and engagement
with customers in social media services like Twitter and Facebook.
IBM Connections 4.5, which will be available in
March, will also feature new document and content management capabilities, as well
as an "ideation" tool to manage brainstorming processes. This new
version will also feature deeper integration with Microsoft Outlook, so that
users can access IBM Connections features within their Outlook interface.
"This 4.5 version is a momentum announcement,"
said Rob Koplowitz, a Forrester Research analyst. "IBM continues to grow,
add functionality to and improve Connections."
The content management functionality makes
Connections a stronger competitor to Microsoft's SharePoint, which in turn is encroaching
further into the Connections territory with its upcoming integration with the
Yammer enterprise social networking software.
MARKETING
Wishpond
is launching a set of eight new apps that bring the startup’s social marketing
campaigns to Twitter.
The apps allow businesses to promote different
contests and offers from their Twitter accounts, such as Photo and Caption
contests. I talked to CEO Ali Tajsekandar about the new tools, and it sounds
like one of the biggest selling points is the way the contests seem like a
natural extension of a business’ Twitter account. Normally, if you’re promoting
a contest or offer on Twitter, your followers would have to follow a link to an
outside website, which Tajsekandar said can be a jarring experience.
The company can’t entirely get around the fact that
the contests are hosted on the Wishpond site, not Twitter itself. However, the
contest page looks quite a bit like Twitter, and even copies the background
from the relevant Twitter account. So Tajsekandar argued that the visitor is
less likely to think, “Whoa, what’s going on here?” and more likely to actually
sign up.
Propel Marketing & Design,
Inc., a South Florida based Internet Marketing Company, is thrilled to
offer E-Commerce solutions for small businesses. As more and more companies are
making their products available online, incorporating an E-Commerce strategy into a website can make a
company more accessible to customers, as well as increase sales and revenue.
“Propel understands that the complexity of
E-Commerce can feel daunting to some people. That’s why we can break down the
process and determine the best online strategy for each client’s specific
business and budget.” explained Propel President Darcy Sullivan.
“A pleasant user experience is critical to the
success of a website and it all begins with the design phase,” Sullivan
continued. “Our team understands what shoppers are looking for, the best
practices for web and search engine optimization (SEO). Using these key
factors, Propel creates stunning sites that draw customers in and set our
clients apart from their competition.”
Propel Marketing & Design, Inc. works on
E-Commerce projects in a content management system (CMS). This allows clients
to take ownership of the store once it’s set up.
ODISHA BUSINESS
In a bid to decentralise regulation of radiology
units operating in the state, Odisha government today signed an MoU with Atomic
Energy Regulatory Board (AERB) for setting up a Directorate of Radiation Safety
(DRS).
"Due to tremendous increase in medical
diagnostic installations using medical x-rays in the country, a decision was
taken to decentralize the regulation of these units," Odisha Health
Secretary P K Mohapatra said after signing the MoU.
While only Kerala and Mizoram have the DRS, MoU has
been signed in seven other states like Madhya Pradesh, Tamil Nadu, Punjab,
Chhattisgarh, Himachal Pradesh , Gujarat and Maharastra. Odisha is the 10th
state wishing to set up a DRS. "The
mission of AERB is to ensure that the use of ionizing radiation and nuclear
energy in India does not cause undue risk to health and environment," its
secretary R Bhattacharya said.
Bhattacharya
informed that as per a survey conducted during the 1990s there were around
30,000 X-ray units and now there are more than 50,000 of them. Every year
around one thousand X-ray units are being added to the existing facility.
Though the
state government is authorized to inspect and ensure the regulations of such
units it was not found to be sufficient.
For the
time being DMET (director, medical education and training) will function as
Director of Radiation Safety and additional man power as required will be
created in future with due approval of the government, Mohapatra said.
Alleging denial of its ’genuine rights’ in
subsequent railway budgets, a panel of the Odisha Assembly has prepared a
memorandum which will demand Rs 3,050 crore for developing rail infrastructure
in the state in 2013-14.
“A committee of the assembly led by Speaker P K Amat
will submit the memoranda in this regard to Prime Minister Manmohan Singh and
Railway Minister Pawan Kumar Bansal next month. The House panel has prepared a
list of projects which required urgent attention,” said state Commerce and
Transport minister Subrat Tarai.
The memorandum will also demand additional five
Duronto Express trains, three super fast, 10 express, three inter-city trains,
two passenger trains and eight DMU trains.
“This apart, we will also demand establishment of a
multi-model logistic park at Kalinga Nagar and filling of all technical posts
in East Coast Zone in order to expedite activities,” Tarai said.
The committee will also request the Railway ministry
to merge certain portions of Odisha in the East Coast Zone.
“There are areas in Odisha which still remain under
South Eastern Railway Zone and South Central Zone jurisdiction,” the minister
said.
Of the Rs 3,050 crore sought from Railways for
Odisha, Rs 1,440 crore would be for construction of new lines, Rs 940 crore for
gauge conversion, Rs 210 crore for electrification of projects, Rs 100 crore
for traffic facilities and development of goods sheds, Rs 35 crore for
establishment of wagon manufacturing unit in Ganjam, sleeper manufacture/wagon
factory in Bolangir and MEMU Maintenance facility at Khurda and Rs 275 crore
for passenger amenities.
RETAIL
New
Delhi-based departmental store operator V-Mart Retail plans to double its
number of outlets with the help of funds raised from its initial public
offering, a top company official said on Monday.
The
company, which operates stores mainly in tier II and tier III towns in west and
North India, will hit the stock markets with its maiden share issue on Feb 1
and close on Feb 5.
The issue
comprising 44.96 lakh shares has been priced at Rs 195-215 a share, and it will
include a fresh issue of 27.61 lakh shares. Aditya Birla Group firm Naman
Finance and Investment, which has been an investor in V-Mart since 2008, will
offload 17.35 lakh shares to pare down its shareholding to 8.74 percent from
21.74 percent.
Overall,
the company hopes to raise around Rs 127 crore (median range) from the IPO,
which includes a pre IPO placement of 12.50 lakh shares at Rs 210 a share,
totalling a little over Rs 26 crore, Deepak Sharma, CFO, said. V-Mart will get
ar ound Rs 90 crore, he added.
"We
have focussed on tier II and tier III cities for growth as we get a first mover
advantage in most place. We currently own and operate 62 outlets across 53
cities and plan to use the IPO proceeds to open 60 more stores and expand
distribution centres, apart from general working capital requirements,"
Lalit Agarwal, the promoter and presently the chairman and managing director of
V-Mart.
He says
the company has focussed on cluster-based model for expansion and no store is
at a distance of over 150km from the other store. Out of the current 62 stores,
23 are pure apparel stores, while 39 stores also have kirana bazaars, through
which it sells branded packaged food and non-food items like personal care
products. It doesn't sell perishable goods like fruits and vegetables.
It sounds like a simple proposition for retailers:
provide Wi-Fi for customers and employees to use with their smartphones and
tablets inside their stores.
Shoppers are coming to expect it: in a recent survey
by SapientNitro and GfK Roper, 63% said free Wi-Fi would enhance their shopping
experience. And even though some will use the service to compare prices online,
more and more retail chains are offering Wi-Fi service to customers. In the
2012 holiday season JC
Penney Inc Target
Corp. and Saks
Inc. joined the ranks of other chains that had offered Wi-Fi in previous years,
including Macy’s Inc., Sam’s Club and Nordstrom
Inc. Wi-Fi also offers opportunities to improve employee productivity and
customer satisfaction–for example, by allowing a sales person to check the
stockroom without leaving the floor, or even to complete a sales transaction in
the aisles.
There are more than 80 million unique Wi-Fi networks
in the US. How difficult could it be to put a few into stores?
Very difficult, it turns out. In fact, Bain &
Company’s work with retailers finds that rolling out Wi-Fi to a network of
stores is among the most capital intensive and complex projects IT departments
will tackle this decade. That’s true in other industries as well, whether it’s
a cruise line installing Wi-Fi in its ships or a large company rolling Wi-Fi
out among a network of offices.
SUPPLY CHAIN
Victoria's Secret and Benetton Group have announced
their commitment to join Greenpeace's detox programme. The parent company of
Victoria’s Secret (Limited Brands) and the Benetton Group are the latest
fashion retailers to pledge their commitment to Greenpeace’s
Detox Program, which strives to eliminate all hazardous chemicals from the
supply chain.
In total, 14 international clothing retailers have
committed to phase out the use of toxic chemicals in their products and supply
chain since the release of a range of damning Greenpeace investigations
(released in July
2011 and expanded
in 2012) which revealed high levels of toxic phthalates and cancer-causing
amines in addition to the widespread use of NPEs (nonylphenol ethoxylates)
which can break down to a chemical with hormone-disrupting properties.
The brands have agreed to eliminate the use of these
chemicals, which are dangerous to consumers and cause widespread water
pollution and damage to aquatic life, by 2020. Limited Brands, which also owns
popular lingerie brand La Senza, joins high street brands Benetton and Uniqlo,
who have joined in the past month, following in the footsteps of Zara, Levis,
Mango and Espirit, who made the pledge in December.
A press release by Greenpeace also detailed
negotiation with limited brands to disclose discharge data from 80 percent of
its entire global supply chain by the end of 2013.
Cloud computing has found a place in nearly every
industry, from e-commerce and banking to automotive to healthcare, and all the
processes in between. Research shows that cloud use in supply chains has
increased dramatically over the past year, and doesn’t expect to slow down in
2013.
Dwight Klappich, research vice president for
Gartner, explains that supply chain management has adopted cloud use quickly,
with an estimated 40% increase in 2012 over 2011. He explains in a Logistics
Management article watching this shift from more traditional software to
the cloud: “Two to three years ago when we talked to shippers about software,
the cloud was just one option. In many cases, cloud has now become a preference
for companies.” He predicts that around 50% of the transportation subset of
supply chains are currently cloud-based.
Shifting towards the cloud might seem daunting for
those who manage supply chains, as most people worry over the security and
availability of their data, but hosting with a cloud provider can actually help
alleviate the pressures in those areas.
Hosting your data in-house means having to pay for
all the physical and technical measures needed to ensure data security, as well
as redundant hardware and functions in order to have the availability necessary
to keep a business supply chain moving 24/7.
________________________________________________________________
Source of
Information for this issue: Google alert accessed on 28th, 29th, 30th Jan and 1st Feb 2013.
We welcome your suggestions in improving this information updating service.
Best wishes
Junior Librarian
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
E-mail:library@asbm.ac.in, chieflibrarian@asbm.ac.in
Sabita Sahu :Junior Librarian 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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