ASBM Business
Updates is a Weekly Selective Compilation of Business News from Various
Sources. To find details follow the links.
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
ASIAN BUSINESS
Asian shares and the euro were pressured on Friday
by fears Cyprus may default on its debt, while deteriorating euro zone economic
activity further underscored the troubles ailing the region.
The MSCI's broadest index of Asia-Pacific shares
outside Japan, inched down 0.1%, weighed by a 0.3% drop in Australian shares
with worries about the stability of the Australian government after a leadership
crisis hurting sentiment.
South Korean shares opened down 0.1%.
"The main risk is that equity markets have come
too far too fast and that investor sentiment may have become too
optimistic," Barclays Capital said in a research.
"However, we expect any correction to be
contained given persistent fundamental support for equities: continued policy
support, the low risk of a cyclical downturn and attractive valuations relative
to fixed income."
European shares dropped to a two-week closing low on
Thursday, while crude oil and the euro fell on concerns over a banking crisis
in Cyprus. The safe-haven gold rallied to its highest in almost a month and US
Treasuries and German government bonds also advanced amid the heightened risk
aversion.
The European Union gave Cyprus till Monday to raise
the billions of euros it needs to secure an international bailout or face a
collapse of its financial system that could push it out of the euro currency
zone.
The mood was further soured by dismal euro zone
data, which offset upbeat US reports on housing, future economic activity and
business conditions in the mid-Atlantic region and improving Chinese factory
output.
Germany, the region's leading economy, showed signs
of fatigue and French businesses turned in their worst performance in four
years in March. France, the euro zone's second-biggest economy, likely fell
into a recession.
With the new boss, Gerhard Zeiler, at the helm,
Turner Broadcasting is eyeing major growth in the Asian region, including in
India. The Asia president of Turner, Steve Marcopoto and his management team
now has to deliver on a potentially liberating vision and meet Zeiler's
blueprint.
Turner's remit, as per industry analysts Media Partners Asia (MPA), will encompass a number of key strategies, in addition to further strengthening its core brands.
In the near term, it will focus on building more in India with more local investment and new brands, capitalising on the growth of affiliate fees and the eventual recovery in the ad market. It will also be expanding the current portfolio to resemble TBS in the US by launching new general entertainment channels that meet the needs of pay-TV platforms.
The focus will also be on launching new pay-TV program networks anchored to Turner's kids entertainment pedigree in some of Asia's largest local markets and on capitalising on free TV as the high-growth consumer media proxy by launching digital free satellite channels in appropriate geographies.
The execution goes into overdrive starting today.
"It's a major culture change," said Marcopoto in an exclusive briefing with MPA. "We are transitioning from a culture that has been pan-regional in nature to one that will be about accountability and local empowerment. This enables us also to transition out of a matrix style of management without centralized layers of bureaucracy and overlays."
"The organization will evolve into a leaner and disciplined structure with new offerings in addition to our core brands and a number of investments in some of the fast-growing local markets," he said.
MPA said that Turner's product cycle has been heavily reliant on its two historical leader brands Cartoon Network and CNN, and a corporate culture that grew a tad complacent over time.
According to MPA research, Turner, a Time Warner subsidiary, is a $300 million revenue business in Asia, including all its news and entertainment brands, though excluding HBO Asia, which is 75 per cent owned by Time Warner.
Turner's remit, as per industry analysts Media Partners Asia (MPA), will encompass a number of key strategies, in addition to further strengthening its core brands.
In the near term, it will focus on building more in India with more local investment and new brands, capitalising on the growth of affiliate fees and the eventual recovery in the ad market. It will also be expanding the current portfolio to resemble TBS in the US by launching new general entertainment channels that meet the needs of pay-TV platforms.
The focus will also be on launching new pay-TV program networks anchored to Turner's kids entertainment pedigree in some of Asia's largest local markets and on capitalising on free TV as the high-growth consumer media proxy by launching digital free satellite channels in appropriate geographies.
The execution goes into overdrive starting today.
"It's a major culture change," said Marcopoto in an exclusive briefing with MPA. "We are transitioning from a culture that has been pan-regional in nature to one that will be about accountability and local empowerment. This enables us also to transition out of a matrix style of management without centralized layers of bureaucracy and overlays."
"The organization will evolve into a leaner and disciplined structure with new offerings in addition to our core brands and a number of investments in some of the fast-growing local markets," he said.
MPA said that Turner's product cycle has been heavily reliant on its two historical leader brands Cartoon Network and CNN, and a corporate culture that grew a tad complacent over time.
According to MPA research, Turner, a Time Warner subsidiary, is a $300 million revenue business in Asia, including all its news and entertainment brands, though excluding HBO Asia, which is 75 per cent owned by Time Warner.
ASIAN SCHOOL OF
BUSINESS MANAGEMENT
A three day State Level Entrepreneurship Awareness
Programme from 22nd to 25th March was held in the Asian
School of Business Management campus here in the city.
Inaugurating the three-day programme, Shri B.K.bhoi,
Banking Ombudsman (Odisha) said, "Opportunity does not make a successful
entrepreneur, rather lack of opportunity creates an entrepreneur." Shri
Subhransu S. Acharya, Deputy General Manager, SIDBI, Bhubaneswar and Shri Vivek
Pattanayak, Retd. IAS, were the guests of honour on the inaugural day.
Delivering his address, Prof. Biswajeet Pattanayak,
Founder and Director of ASBM, said, "What drives an entrepreneur is the
passion to create something new – not to earn money. He of course makes money-
which is incidental.
Among other dignitaries who shared their thoughts on
the said Entrepreneurship Awareness Programme include—Madhumita Das, UNICEF,
Rajen Padhi, Shri S.K. Rath, Asst. Director, MSME, Shri G.C. Sahoo, Asst.
Project Director, STED.
Presiding as Chief Guest on the valedictory day of
the Entrepreneurship Awareness Programme, Shri Rajib Sahoo, Director, Andhra
Bank said, "An entrepreneur should be able to see ahead of others. Hard
work and out-of-box thinking is required to become a successful
entrepreneur."
Shri C.R. Pattnaik, Regional Coordinator, EDII,
BBSR, Shri Sashikanta Mallick, DFID and Shri Niranjan Mohanty, Founder &
CEO, Magnum Apparel (P) Ltd also spoke on the occasion.
Co-ordinator of the event Prof. Haradhan Das along
with 73 students of the institute also present on the above Entrepreneurship
Awareness Programme.
BANKING
South
Korea's financial regulator said Monday that it will push for an overhaul
in local banking firms' governance structure, focusing on reducing excessive
power wielded by their chief executives.
The Financial Services Commission (FSC) plans to
draw up measures that will prevent heads of Korea's major banking holding
companies from abusing their power, according to officials.
Chiefs of bank holding firms have been under fire for
intervening in personnel appointments at their affiliates and giving tasks only
verbally without paper evidence, making it difficult to figure out who is
responsible when something goes wrong, the FSC said.
"We wouldn't say no to taking very harsh steps (for
the overhaul) if that's what it takes to show the government's
willingness," said an FSC official.
The regulator's move comes as Shin Je-yoon, the new
FSC chief, vowed to overhaul the governance structure of the country's major
financial holding companies, as part of an effort to stem the firms from
becoming too political.
The heads of Korea's four major banking groups,
including state-run Woori Finance Holdings Co., were known to be close aides to
former President Lee Myung-bak.
BUSINESS
MANAGEMENT
Mining solutions provider Weir Minerals upgraded its
business management system to Infor LN from January 1, as its business had
grown from shipping between 2 000 and 3 000 parts a day to shipping between 5
000 and 8 000 parts a day, Weir Minerals CEO Dave Athey said
at business software and service provider Infor’s On the Road conference, held
in Johannesburg earlier this month.
Athey explained that Weir Minerals first worked with
Infor’s partner, business software company Softworx, after Weir Minerals’
acquisition of pumps group Warman in 2008.
“At that stage, our biggest problem was on-time
delivery. “Our on-time delivery statistics were less than 30%; we had lead
times longer than 20 weeks and a backlog of more than six months,” he said.
Other issues, such as the different enterprise
resource planning (ERP) systems used by the businesses, were also identified.
“The one business was running on the Baan system,
while the other was using iScala.
“After an assessment, it was clear that the Baan
system was much more suited to the manufacturing process we were using and we
decided that we would eventually want to consolidate the platforms.”
During the economic downturn in 2009, Weir Minerals
had additional resources and time to progress the ERP rationalisation, and
Softworx was contracted, Athey said.
“The decision was made to grow the Baan system into
both sides of the business and, in collaboration with Softworx and other
consultants, we rolled out a complete and consolidated ERP solution in seven
months,” he added.
Since 2009, Weir Minerals has also acquired two
other businesses, one of which was rubber products company Linatex and, by
2012, the business of Weir Minerals had doubled, Athey said.
Weir Minerals then decided to upgrade to Infor LN,
he said, adding that there was also a newer version of the technology under
development, to which Weir Minerals would upgrade in June or July this year.
“We have had a good experience working with Softworx
and are looking forward to the new application,” he said.
FINANCE
Airports
overseas offer incentives and rebates to attract airlines in contrast with
Indian rivals that are raising charges to maximize returns at a time when
airlines are operating on thin margins, said aviation experts and executives at
various international airports.
They spoke
to Mint on the sidelines of the Routes Asia seminar in Mumbai organized
by the GVK Group last week.
New
airlines operating from Incheon airport in South Korea, for instance, don’t
have to pay for a year, said Daniel
Dongik Shin, director, aviation marketing team.
“They will
get a 75% concession for the second year and 50% for the third. If an existing
airline adds a new destination from our airport, we offer similar discounts.
For increasing frequencies on existing routes, we give 50% discount on landing
charges,” he added.
State-owned
Incheon international airport is the largest in South Korea, handling 44
million passengers a year. For seven successive years (till 2012), it was rated
the best airport worldwide by the Airports Council International lobby group.
Similar is
the case with the Dallas/Fort Worth (DFW) International Airport in the US owned
by the cities of Dallas and Fort Worth. The world’s fourth busiest airport that
handles 58 million passengers a year, Dallas airport has seven runways, the
most in the world.
The
airport has a “generous incentivization programme with discounts and two-year
rebates on landing charges for two years for new airlines”, said Luis E.
Perez, vice-president, air service development, DFW International Airport.
Indians living abroad, especially those in the US
have welcomed the launch of the electronic postal order, which they say would
go a long way for them seeking information from the Indian Government and other
state governments under the Right to Information Act.
A number of Indians living in the US said that RTI
has now become accessible to the Indian citizens living abroad after the Postal
Department last week launched Indian postal order in electronic format (eIPO).
“With eIPO, I now have the ability to discern
conflicting information about governance in India in the news by going directly
to the source — the Government,” Vishal Kudchadkar, a volunteer with the
non-profit Association for India’s Development (AID) at Los Angeles, told PTI.
“In the last seven years, we have tried all possible
workarounds to exercise our right to know. Now, our participation in nation
building has become tad easier!” he said.
For the past several years, the volunteers of AID
have been running from pillar to post both at the Indian missions in the US and
with government agencies back home seeking information under RTI.
However, the inability to pay in Indian currency
from overseas was a major hindrance in their move.
“It has been seven long years since we started this
campaign for our right to information. It has been a difficult journey and
during this time we have had to depend on friends in India to file RTIs on our
behalf,” said Arun Gopalan, a volunteer with Association for India’s
Development, Greater Washington Metro area chapter.
“Their non-availability meant a missed opportunity.
That will no longer be the case with this new eIPO. It would be ideal if the
list of email id of PIOs is also available on this portal and the information
exchange is completely digitised, but we will take this for now,” Gopalan said.
INDIA BUSINESS
Indian carriers are now free from bureaucratic red
tape that surrounded import of aircraft for fleet augmentation. Aviation
minister Ajit Singh on Thursday disbanded the aircraft
acquisition committee (AAC) where airlines' requests for getting aircraft
have historically remained stuck for indefinite periods. Both schedule and
non-schedule airlines and flying institutes can now induct planes as per their
business plans, without seeking any nod from the ministry.
"Airlines decide their fleet size on commercial grounds. No airline will import planes if it does not feel the need to do so and there is no point in coming to us for seeking the nod to do so. I have decided to cut the bureaucratic red tape surrounding aircraft acquisition that only used to cause delays. The directorate general of civil aviation checks planes for airworthiness, safety and there is no need for any other approvals from the ministry as far as fleet is concerned," Singh said.
Airlines had been up in arms over the delays caused in the AAC. Airlines decide fleet size based on dynamic ground realities and hurdles in getting planes often meant airlines missing good business opportunities. The Prime Minister's Office had last year objected to Singh being the final approving authority of AAC after airlines conveyed fears that such a structure would only add to delays. The AAC has traditionally been headed by an additional secretary but Vayalar Ravi as aviation minister two years back had decided to have the minister as the approving authority, a practice continued by Ajit Singh.
"Airlines decide their fleet size on commercial grounds. No airline will import planes if it does not feel the need to do so and there is no point in coming to us for seeking the nod to do so. I have decided to cut the bureaucratic red tape surrounding aircraft acquisition that only used to cause delays. The directorate general of civil aviation checks planes for airworthiness, safety and there is no need for any other approvals from the ministry as far as fleet is concerned," Singh said.
Airlines had been up in arms over the delays caused in the AAC. Airlines decide fleet size based on dynamic ground realities and hurdles in getting planes often meant airlines missing good business opportunities. The Prime Minister's Office had last year objected to Singh being the final approving authority of AAC after airlines conveyed fears that such a structure would only add to delays. The AAC has traditionally been headed by an additional secretary but Vayalar Ravi as aviation minister two years back had decided to have the minister as the approving authority, a practice continued by Ajit Singh.
Kroll Advisory Solutions, a risk mitigation and
response advisory service, and mergermarket, an independent mergers and
acquisitions (M&A) intelligence service, today said many Indian companies
are engaging in ambitious outbound M&A, making "daring transactions
across industries".
In 2012, Indian companies made 72 acquisitions abroad worth $11 billion, a decline from 2007 highs of 125 deals worth $18 billion but an improvement over 2011’s deal value of $6.7 billion.
"As Indian companies grow restless operating within the country’s domestic market, the outbound wave has seen a notable shift over the past 10 years, changing from deals centered on IT and pharmaceuticals to acquisitions in the consumer and energy space. These new deals have been driven largely by the need to satisfy India’s growing consumer class and meet the country’s growing need for oil and coal."
The findings are part of the fifth issue of Spotlight Asia, Kroll’s quarterly newsletter for M&A practitioners. The issue this time focuses on Indian outbound M&A activity, developing trends and best practices for Indian M&A practitioners to follow as they venture abroad.
In terms of outbound target sectors, over 2012 Indian companies made major acquisitions into energy, mining and utilities, with totals reaching $6 billion, accounting for 55% of deal activity for the year. Notable buys included ONGC Videsh’s purchase of an 8.4% stake in a major ConocoPhillips oilfield in Kazakhstan for $5 billion. That deal was the largest natural resource deal ever for an Indian business.
In 2012, Indian companies made 72 acquisitions abroad worth $11 billion, a decline from 2007 highs of 125 deals worth $18 billion but an improvement over 2011’s deal value of $6.7 billion.
"As Indian companies grow restless operating within the country’s domestic market, the outbound wave has seen a notable shift over the past 10 years, changing from deals centered on IT and pharmaceuticals to acquisitions in the consumer and energy space. These new deals have been driven largely by the need to satisfy India’s growing consumer class and meet the country’s growing need for oil and coal."
The findings are part of the fifth issue of Spotlight Asia, Kroll’s quarterly newsletter for M&A practitioners. The issue this time focuses on Indian outbound M&A activity, developing trends and best practices for Indian M&A practitioners to follow as they venture abroad.
In terms of outbound target sectors, over 2012 Indian companies made major acquisitions into energy, mining and utilities, with totals reaching $6 billion, accounting for 55% of deal activity for the year. Notable buys included ONGC Videsh’s purchase of an 8.4% stake in a major ConocoPhillips oilfield in Kazakhstan for $5 billion. That deal was the largest natural resource deal ever for an Indian business.
INSURANCE
India
plans to set up a special fund to provide insurance to refineries after
European re-insurers refused to cover units that process oil imported from
Iran.
Insurance companies in the country have refused insurance cover to refineries processing Iranian oil as they could not get reinsurance from their European counterpart. Reinsurance makes up for 90 per cent of the insurance cover provided.
New Delhi fears that next the insurers would seek a certificate that fuel exports out of India are not out of any of Iranian oil. "We are told that under European law, reinsurance outside Europe is not hit by (US and western) sanctions (against Iran)," oil secretary Vivek Rae told reporters here.
The issue is now being examined in consultation with the ministry of external affairs, he said adding refineries will get insurance cover if New Delhi's understanding was confirmed by European Union and insurance companies accept it.
"If we get the insurance, it (oil import from Iran) not a problem," he said.
Rae said the Department of Financial Services is working on creation of an insurance pool fund in India to provide insurance cover to refineries. The fund will be created by contributions from both insurance companies and oil industry.
"As per the proposal right now, the national insurance companies would contribute some money. The Oil Industry Development Board will contribute some money. What would be the size of the fund, how much are we required to contribute and whether it is enough to cover the reinsurance risk, this is something the reinsurance companies have to work out," he said.
He said refiners are talking to the reinsurers. "At the moment oil is being imported from Iran. But the problem will arise if the refineries don't have the insurance cover. We can not import crude from Iran in such a scenario."
The move will help all refineries importing crude oil from Iran, particularly Mangalore Refinery & Petrochemicals Ltd, whose current insurance cover is coming to an end in May and has so far not found any insurer willing to hedge its risks.
Mobile tech prop for motor insurance
Insurance companies in the country have refused insurance cover to refineries processing Iranian oil as they could not get reinsurance from their European counterpart. Reinsurance makes up for 90 per cent of the insurance cover provided.
New Delhi fears that next the insurers would seek a certificate that fuel exports out of India are not out of any of Iranian oil. "We are told that under European law, reinsurance outside Europe is not hit by (US and western) sanctions (against Iran)," oil secretary Vivek Rae told reporters here.
The issue is now being examined in consultation with the ministry of external affairs, he said adding refineries will get insurance cover if New Delhi's understanding was confirmed by European Union and insurance companies accept it.
"If we get the insurance, it (oil import from Iran) not a problem," he said.
Rae said the Department of Financial Services is working on creation of an insurance pool fund in India to provide insurance cover to refineries. The fund will be created by contributions from both insurance companies and oil industry.
"As per the proposal right now, the national insurance companies would contribute some money. The Oil Industry Development Board will contribute some money. What would be the size of the fund, how much are we required to contribute and whether it is enough to cover the reinsurance risk, this is something the reinsurance companies have to work out," he said.
He said refiners are talking to the reinsurers. "At the moment oil is being imported from Iran. But the problem will arise if the refineries don't have the insurance cover. We can not import crude from Iran in such a scenario."
The move will help all refineries importing crude oil from Iran, particularly Mangalore Refinery & Petrochemicals Ltd, whose current insurance cover is coming to an end in May and has so far not found any insurer willing to hedge its risks.
Mobile tech prop for motor insurance
Private motor insurance firms are betting big on
mobile technology for quicker settlement of claims.
General insurance firms ICICI Lombard and Bajaj
Allianz, which together garner one-third of the net premium earned by private
motor insurers, have launched applications that enable policyholders to
register their claims through mobile handsets.
ICICI Lombard has developed an application, called
Insure, which will allow customers to take a photo of the damaged vehicle and
communicate their version of the accident through voice recording and send the
claim intimation.
Besides instant claim registration, the application
will also allow customers to track their claim status, find the nearest motor
garage or hospital through geo-tagging and browse and renew insurance policies.
ICICI’s customers can download the application on
their smartphones and tablets running on Google’s Android platform.
Bajaj Allianz will distribute its Android-based
application Ezee Tab among its authorised agents, who can use it to collect
premiums paid through customer’s credit or debit cards.
“A majority of the people today use their mobile
phones to connect to the Internet and the application would help the user to
register a claim on a short notice,” said Amitabh Jain, head (motor
underwriting and claims) of ICICI Lombard. He, however, said the registered
claim would have to be verified by the agents before settlement.
“The technology would help to lower the turnaround
time in claim settlement,” Vijay Kumar, head (motor insurance) of Bajaj Allianz
General Insurance, said.
Turnaround time is the number of days taken to
settle the claim after its submission by the policyholder.
According to the Insurance Regulatory and
Development Authority (IRDA), the maximum turnaround time for settlement or
rejection of claim is 30 days after receiving the first intimation in case of
own damage.
Industry observers said the technology was expected
to simplify procedures and reduce paperwork.
“The turnaround time varies on a case-to-case basis.
Now the time required for settlement of low intensity cases is expected to
reduce to less than a couple of days while that of severe cases is likely to be
dealt with within a week,” an analyst said.
INTERNATIONAL
BUSINESS
Maruti Suzuki's plans to ramp up its Manesar plant
capacity is undeterred by the sluggish demand in the auto market. According to India's
largest auto manufacturer, the third assembly line at the Manesar plant will
commence from September this year. India's
car market has been reeling under slow demand over the past couple of months.
Several other auto majors are in a tryst to revive the market with attractive
and interesting schemes for consumers. It was said that Maruti was also hit but
the slow demand when the company suspended petrol car production at its Gurgaon
plant earlier this month. But the decision to increase the manufacturing
capacity indicated that the company is unfazed by the market slowdown.
"The plant C at Manesar will be commissioned
later this year. We do have excess production for petrol cars. But the Manesar
unit mostly produces diesel vehicles. With the diesel engine plant also
scheduled to become operational around the same time, we will manufacture more
diesel cars in line with market demand," said R C Bhargava, chairman,
MSIL, reported Business Standard. With the commission of the additional
capacity, Maruti would be able to roll out an additional 250,000 units over its
existing capacity. Also, the company is in a tryst to increase the production
of diesel-powered vehicles up to 16 percent by the end of 2014 fiscal year.
Maruti eyes a sale of 400,000 diesel vehicles by the end of current fiscal.
"We expect to sell around 465,000 diesel
vehicles next fiscal. There continues to remain a waiting for our popular
diesel models such as Swift, DZire and Ertiga," said Bhargava added.
Maruti is likely to begin construction of a new
plant in Gujarat in the coming quarter. The final decision on this will be
taken in the next board meeting which is going to be held in April.
YouTube, the world's largest video sharing website,
on Wednesday announced on its official blog that it had surpassed billion
users. "YouTube now has more than a billion unique users every single
month," said a statement by the video sharing website.
YouTube reached the magical Billion Mark owing to
its 'Generation C' who are mostly smartphone users and are continuously
'switching between devices'. Gen C "tunes into YouTube throughout every
part of their day," said Gunnard Johnson, Google's advertising director.
These users are not heavy television viewers but are
"deeply engaged with online video, watching, creating and uploading videos
on YouTube." "Nearly one out of every two people on the Internet
visits YouTube," said the company.
YouTube reached its Billion Hits after the social
networking giant-Facebook
scored Billion users last October.
YouTube was launched in 2005 by former PayPal
employees in California.
In 2006, Google took over the video sharing website
for $1.76bn. Since then the website has provided the search engine a great
business potential.
LOGISTICS
Barloworld Logistics, a leading
provider of logistics and supply chain management solutions, has revealed that
the UAE will remain a catalyst for the company's growth plans in the region
after the World Bank ranked the UAE ahead of all GCC countries in its recently
published Logistics Performance Index (LPI) 2012.
Barloworld
Logistics further pointed out that the UAE has been listed 17th in the overall
LPI rankings, outranking other prominent countries such as Norway, Australia,
Ireland, New Zealand, Italy and South Korea, thereby reaffirming the growing
status of the UAE in the global logistics value chain. Barloworld Logistics has
revealed that the World Bank's biennial LPI has been a key tool in charting the
company's strategic expansion plans in the GCC and globally, providing key
insights on the strengths and areas of improvements of all of its target
markets.
Frank Courtney, Barloworld Logistics Chief Executive for EMEA region, said: "The World Bank's Logistics Performance Index 2012 clearly positions UAE as the frontrunner in the entire GCC region with its superior logistics infrastructure and tightly integrated value-added services and amenities. The development of Dubai World Central, for instance, is a game-changing achievement that firmly establishes the UAE as a leading logistics hub, and a catalyst for the sustained growth of the regional logistics industry. Our strategy is to complement the government's proactive efforts to build world-class logistics infrastructure by focusing on delivering integrated smart supply chain solutions that empower businesses to move forward with their expansion plans in the region. The UAE continues to open exciting opportunities for logistics businesses to grow and expand, and we believe that Barloworld Logistics' strategic investments over the years have strongly positioned the company to capitalize on the favorable market conditions."
Frank Courtney, Barloworld Logistics Chief Executive for EMEA region, said: "The World Bank's Logistics Performance Index 2012 clearly positions UAE as the frontrunner in the entire GCC region with its superior logistics infrastructure and tightly integrated value-added services and amenities. The development of Dubai World Central, for instance, is a game-changing achievement that firmly establishes the UAE as a leading logistics hub, and a catalyst for the sustained growth of the regional logistics industry. Our strategy is to complement the government's proactive efforts to build world-class logistics infrastructure by focusing on delivering integrated smart supply chain solutions that empower businesses to move forward with their expansion plans in the region. The UAE continues to open exciting opportunities for logistics businesses to grow and expand, and we believe that Barloworld Logistics' strategic investments over the years have strongly positioned the company to capitalize on the favorable market conditions."
MARKETING
Russian conglomerate Sistema will increase marketing
spends to rebuild its MTS
telecom brand in India, two executives aware of the matter have said. The
executives, who did not want to be named, said Sistema's Indian arm, Sistema
Shyam Teleservices, will increase media spends in 2013 "by at least
20% to strengthen performance and customer appeal of the MTS brand across its
nine-circle footprint".The development follows an internal company email,
a copy of which was reviewed by ET, in which Sistema's global head of telecom
assets, Anton Abugov, has told all Sistema Shyam employees that "the
uncertain times are finally over for the company and work needs to be done to
replicate the success of brand MTS in Russia and CIS countries in India".
Sistema Shyam's spokesman did not respond to ET's emailed query on the size of
the brand-building budget. The telecom operator, which offers CDMA services under
the MTS brand, was among the worst hit in the February 2012 Supreme Court
order in the 2G-spectrum
allocation case. Earlier this month, it won permits in eight zones in a
government-conducted auction of airwaves. Abugov has also assured the 2,500
employees of Sistema Shyam that the company will go flat out to return to
profitability. "There is a sea of opportunity across all revenue lines —
be it voice, data and smart phones — which calls for absolute commitment to
optimise all available resources," the email said.
Back in June 2011, Apple launched
Final Cut Pro X, a complete reworking of the company's video editing
software aimed at professional users, but the new software was met with significant
criticism over missing features. Professional users in particular were
upset over what seemed to be a "dumbing down" of Final Cut Pro in
order to reach more mainstream users.
Apple responded to the controversy by offering refunds to dissatisfied customers and promising updates to improve Final Cut Pro X, and a number of those updates have been delivered over the past 21 months.
Apple responded to the controversy by offering refunds to dissatisfied customers and promising updates to improve Final Cut Pro X, and a number of those updates have been delivered over the past 21 months.
BlackBerry is boosting its marketing budget by 50
per cent as it rolls out its new Z10 smartphone, says chief executive officer
Thorsten Heins.
“We’re running a global rollout of the BlackBerry 10
here,” Heins said in a conference call with analysts on Thursday as he
worked to alleviate concerns that the company’s new smartphone is taking a back
seat to rivals such as the iPhone and the Android phones on store shelves in
the U.S.
Promotional campaigns vary from country to country,
Heins said in comments after the company released its fourth-quarter financial
results. “It’s not a one-size-fits-all type of approach.”
He cautioned that it is still early days in the
U.S., where the Z10 went on sale on March 22, more than a month after it went
on sale in Canada and the United Kingdom. “We have a very strong go-to-market
plan.”
Heins said he was pleased with BlackBerry’s fourth
quarter results ending March 2, which saw the Waterloo-based company report net
income of $98 million US or 19 cents a share, up from a loss of $125 million a
year ago.
The net income figure was helped by $112 million in
research and development tax credits during the quarter.
The profit figure handily beat analysts’
expectations of a loss of 34 cents during the quarter.
BlackBerry’s shares gained 29 cents or 1.96 per cent
on Thursday, closing at $15.09 on the Toronto Stock Exchange.
Bolstered by a cost-optimization program, workforce
layoffs and higher average selling prices, the company reported gross margins
of 40 per cent, up substantially from 30 per cent for the previous quarter and
33.5 per cent a year ago.
“Our financial transformation has been outstanding,”
Heins said. “BlackBerry has gone from a significant operating loss in the first
quarter of the year to an operating profit in the fourth quarter.”
Revenue was $2.67 billion US for the quarter, down
substantially from $4.1 billion a year ago when the company was selling more of
its older model BlackBerry 7 smartphones. Analysts had expected revenues of
about $2.9 million for the quarter.
The company shipped six million smartphones during
the quarter, including roughly one million Z10 phones, which went on sale Jan.
30 in the United Kingdom and on Feb. 5 in Canada. It also shipped 370,000
PlayBook tablets, up from 255,000 in the third quarter.
ODISHA BUSINESS
Odisha Electricity Regulatory Commission, (OERC) on
Friday announced an average 2.4 per cent hike in electricity tariff for 2013-14
from this year’s average retail supply rate.
The enhanced tariff, to be effective from April 1,
was approved after OERC took into account the proposal filed by the utilities,
advice of the State Advisory Committee, opinion of the state government and
conducted public hearing.
As per the tariff order for 2013-4, a consumer is
required to pay an average tariff of Rs 4.68 for consumption of 600 units, an
OERC release said.
In domestic category, average tariff for consumption
of 50 units, 100 units, 200 units, 300 units, 400 units, 500 units and 600
units increased from Rs 2.20 kwh to Rs 2.30 kwh, from Rs 3.05 kwh to Rs 3.15
kwh, Rs 3.48 kwh to Rs 3.58 kwh, Rs 3.95 kwh to Rs 4.05 kwh, Rs 4.19 to Rs 4.29
kwh and Rs 4.41 kwh to Rs 4.51 kwh and Rs 4.56 to Rs 4.66 respectively.
No hike is proposed in tariff for irrigation,
pumping and agriculture and allied farming activities from the present level of
110 paise and 120 paise respectively for the consumers availing such power
supply in LT, sources said.
Reliability surcharge has been introduced for such
HT and EHT consumers availing power through dedicated feeder from grid/primary
sub-station. Reconnection charges have been introduced for defaulting consumers
who don’t pay electricity bill within due date and also not required to pay
delayed payment surcharge (DPS).
The Odisha government will soon sign a memorandum of
understanding (MoU) with the Indian Bureau of Mines (IBM) for implementation of
mining tenement system (MTS) in the state.
The objective of MTS is to enable the process of management of data relating to areas for exploration and mining. It also aims at increasing efficiency in regulation of grant and management of mineral concessions for holistic development of mineral resources of the nation, including promoting investments and optimum utilisation of minerals.
The MoU is set to be signed by M Biswas, regional controller of mines-IBM and Deepak Mohanty, director (mines) on behalf of the state government.
According to the draft MoU, a core committee constituted by the Union ministry of mines will be authorised to oversee the development and implementation of MTS.
The MoU’s tenure will be for five years from the date of signing. On expiry, it can be renewed for one year on mutual agreement between the two parties.
The IBM’s responsibility will be to provide inputs on the design of MTS modules, offer information on the existing operating modules, designs and architecture as well as review and approve the functionality of MTS in relation to IBM specific modules. It will also monitor and test the module prior to final launch of MTS and digitize physical data available with IBM in compatible mode to MTS.
The objective of MTS is to enable the process of management of data relating to areas for exploration and mining. It also aims at increasing efficiency in regulation of grant and management of mineral concessions for holistic development of mineral resources of the nation, including promoting investments and optimum utilisation of minerals.
The MoU is set to be signed by M Biswas, regional controller of mines-IBM and Deepak Mohanty, director (mines) on behalf of the state government.
According to the draft MoU, a core committee constituted by the Union ministry of mines will be authorised to oversee the development and implementation of MTS.
The MoU’s tenure will be for five years from the date of signing. On expiry, it can be renewed for one year on mutual agreement between the two parties.
The IBM’s responsibility will be to provide inputs on the design of MTS modules, offer information on the existing operating modules, designs and architecture as well as review and approve the functionality of MTS in relation to IBM specific modules. It will also monitor and test the module prior to final launch of MTS and digitize physical data available with IBM in compatible mode to MTS.
RETAIL
Retailers are set to face crunch day on Monday as
they are forced to pay their rent for the next three months.
Experts have warned of further casualties, arguing
today’s deadline ‘could not have come at a worse time’ for retailers struck by
poor Christmas trading and the severe cold snap.
Cash-strapped firms are forced to pay rent in
advance for the three months until the end of June. After the Blockbuster chain
was saved from collapse in the UK over the weekend, a report warns the latest
rent payment could cause ‘a number of administrations’ in the retail sector.
One in ten retailers are now classed as ‘zombie’
businesses which are being kept alive by banks according to the trade body for
insolvency professionals R3.
The faster broadband service is expected to reduce
the frustration caused by slow or unreliable internet access which can deter
consumers from making purchases on smartphones.
Retail analysts believe the national 4G roll-out
could prompt a 113 per cent surge in mobile shopping.
Olivier Ropars, senior director of mobile commerce
at eBay Europe, which compiled the report, said: "Consumers today want
convenience and speed. The arrival of universal 4G will bring with it a more
immersive, instant and intimate shopping experience than ever before - putting
the most exciting features of mobile retail as we know it into high definition.
"It won't just turbo-charge the way we shop. It
will truly give us the ability to shop anytime, anywhere.
"That means an extra £1.8bn of consumer
spending up for grabs."
The study revealed more than half (55 oer cent) of
consumers use a smartphone or tablet when shopping more frequently than this
time last year, when mobile spending totalled £1.59bn, according to retail
research agency Conlumino.
It showed just under a third of Britons now use
their phone before making a purchase, either to browse, check prices or to buy
an item.
Further findings revealed more than half (50.3 per
cent) of mobile shoppers were frustrated by internet speeds and just under half
(49.6 per cent) complained about reliability.
Conlumino identified the proportion of customers who
claimed they would buy more if these problems were eradicated.
SUPPLY CHAIN
Nike has entered an innovative partnership that
can more quickly clean up its supply chain by giving them quick
access to sustainable materials and chemicals.
Through Switzerland-based Bluesign Technologies, Nike's suppliers will have access to online tools that help them find the most sustainable materials available.
Through Switzerland-based Bluesign Technologies, Nike's suppliers will have access to online tools that help them find the most sustainable materials available.
Nike is the world's largest sportswear brand and its
supply chain spans 50 countries, 800 contract factories and hundreds of
textile manufacturers that supply them.
In 2011, Nike announced it would eliminate all releases of hazardous chemicals across its global supply chain by 2020.
That's where Bluefinder comes in.
In 2011, Nike announced it would eliminate all releases of hazardous chemicals across its global supply chain by 2020.
That's where Bluefinder comes in.
Using the "bluefinder" tool, a supplier
can access pre-screened and more sustainable textile preparations (dye systems,
detergents and other process chemicals used in the manufacturing process). It
enables suppliers to effectively manage restricted substances and provides the
opportunity to increase water and energy efficiency.
Another tool, "blueguide," gives Nike access to 30,000-plus materials that have been produced using these sustainable chemicals.
Another tool, "blueguide," gives Nike access to 30,000-plus materials that have been produced using these sustainable chemicals.
Nokia just won a German patent injunction against HTC
regarding the power-saving technique - and that is not the only piece of bad
news for the Taiwanese manufacturer in the same day: while they have put their
hopes on the flagship HTC One, it is being pushed back to late March or early
April for the very first set of shipments.
Let us begin with the decision of the Mannheim Regional Court in Germany this morning, where HTC seems to have "lost the leverage". As Florian Müller writes on the FOSS Patents - it will likely be the case unless Qualcomm makes it possible for HTC to deactivate the used patent (EP0673175, reduction of power consumption in the mobile station). HTC was simply unable to deny the infringing on their devices using a Qualcomm baseband chip, and Nokia notes that the patent in question is protected within the US and the UK as well.
"In addition to a sales ban Nokia also won a recall of infringing devices from retail and a declaration that it is entitled to damages (the amount of which would have to be determined in a subsequent litigation). With a view to damages, HTC must makes disclosures to Nokia regarding any infringing activities.", noted Müller. In total, Nokia is asserting 40 different patents against HTC in three markets: US, UK and Germany.
Let us begin with the decision of the Mannheim Regional Court in Germany this morning, where HTC seems to have "lost the leverage". As Florian Müller writes on the FOSS Patents - it will likely be the case unless Qualcomm makes it possible for HTC to deactivate the used patent (EP0673175, reduction of power consumption in the mobile station). HTC was simply unable to deny the infringing on their devices using a Qualcomm baseband chip, and Nokia notes that the patent in question is protected within the US and the UK as well.
"In addition to a sales ban Nokia also won a recall of infringing devices from retail and a declaration that it is entitled to damages (the amount of which would have to be determined in a subsequent litigation). With a view to damages, HTC must makes disclosures to Nokia regarding any infringing activities.", noted Müller. In total, Nokia is asserting 40 different patents against HTC in three markets: US, UK and Germany.
_________________________________________________________________
Source of
Information for this issue: Google alert accessed on 25th and 29th March 2013
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
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.inSabita 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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