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ASIAN BUSINESS
Australia will provide 35 million dollars to set up a National
Centre for Asia Capability, aimed at increasing knowledge of the
business community and assist the organisations to engage with the region.
Trade Minister Richard Marles and Innovation Minister Senator Kim Carr announced the government's decision in Canberra yesterday.
"The new Centre will be based in Melbourne and Sydney with funding provided for national program delivery through the University of Melbourne's Asialink," they said.
The Government will provide the money over 10 years to help fund the new Centre.
"The Centre will act as a hub, drawing existing resources together to better use their potential," Marles said.
"It will tap into the expertise of business and community organisations, peak bodies, training providers and business councils to help business leaders develop a deeper knowledge and expertise of Asian countries and cultures," he said.
"The Centre will also forge new partnerships to help businesses develop the Asia-relevant capabilities they need to better access growing markets in our region," he added.
Trade Minister Richard Marles and Innovation Minister Senator Kim Carr announced the government's decision in Canberra yesterday.
"The new Centre will be based in Melbourne and Sydney with funding provided for national program delivery through the University of Melbourne's Asialink," they said.
The Government will provide the money over 10 years to help fund the new Centre.
"The Centre will act as a hub, drawing existing resources together to better use their potential," Marles said.
"It will tap into the expertise of business and community organisations, peak bodies, training providers and business councils to help business leaders develop a deeper knowledge and expertise of Asian countries and cultures," he said.
"The Centre will also forge new partnerships to help businesses develop the Asia-relevant capabilities they need to better access growing markets in our region," he added.
Asian shares cut gains on Wednesday after data
showed Chinese exports fell for the first time since January 2012, adding
to signs that its economy continues to lose steam, while the dollar hovered at
three-year highs versus a basket of currencies.
China's exports fell 3.1 percent in June from a year
earlier, while imports dropped 0.7 percent, severely missing market
expectations and reinforcing signs of a second-quarter economic slowdown in the
world's second-largest economy.
The downbeat trade data follow the government's
crackdown on the use of fake export documents to close a loophole for
short-term money inflows that had exaggerated China's export performance.
"The surprisingly weak June exports show
China's economy is facing increasing downward pressure on lacklustre external
demand. Exports are facing challenges in the second half of this year,"
said Li Huiyong, economist at Shenyin & Wanguo Securities in Shanghai.
"The appreciation of U.S. dollar and the
Chinese government's recent crackdown on speculative trade activities also put
pressure on exports."
MSCI Asia-Pacific ex-Japan index was up 0.5 percent
after gaining as much as 1.2 percent to a one-week high before the Chinese
data. Earlier, Asian markets were helped by Wall Street's gains on optimism for
U.S. company earnings.
ASIAN MANAGEMENT
Macquarie Group Ltd. (MQG), Australia’s largest
investment bank, agreed to buy ING Groep NV (INGA)’s South Korean investment management
business to add 25.2 trillion won ($22 billion) of assets.
The deal is expected to close in the fourth quarter
and won’t have a material impact on earnings, ING, the biggest Dutch
financial-services company, said in a statement today. Neither company
disclosed detailed terms.
Macquarie has been buying asset-management
businesses from the U.S. to Asia since the global financial crisis to generate
more predictable income as stock markets gyrate. The Sydney-based company said
in a separate statement that today’s purchase will make it the largest foreign
asset manager in South Korea.
“Asia is one of the key growth regions for us
globally and having a presence in Korea
is an essential cornerstone for our Asian strategy,” Axel Maier, head of Asian
business at Macquarie’s investment management unit, said in the statement.
Amsterdam-based ING, which agreed to sell its global
insurance and investment-management operations to win European Union approval
for bailouts in 2008 and 2009, has since sold more than 25 assets for at least
20 billion euros ($26 billion).
Macquarie
Investment Management, part of the Macquarie Funds Group, has entered into an
agreement to acquire ING Investment Management Korea (ING IMK) from ING Group,
subject to certain closing conditions including regulatory approval.
The
acquisition will strengthen Macquarie Investment Management’s presence in Asia
and is consistent with its strategy to further develop a global asset
management business. It will also complement Macquarie’s existing operations in
Korea.
Upon
completion of the transaction, Macquarie Investment Management and Macquarie
Infrastructure and Real Assets will together be the largest foreign asset
manager in Korea by assets under management, providing services to Korean
clients that span Korean stocks and bonds, global stocks and bonds, and
alternative assets such as transportation infrastructure, utilities, ports and
property.
Globally,
Macquarie Investment Management will rank among the three largest managers of
third-party insurance assets by assets under management.
Ben Bruck,
global head of Macquarie Investment Management, said: “This is a significant
step in expanding our Asian business. We have a high regard for Dr Choi and the
ING IMK team and are delighted to have them join us. We look forward to
supporting the continued development of ING IMK’s Korean equities and fixed
income business, which has delivered strong performance for clients. With the
help of the ING IMK team’s expertise, we are excited about the potential to
offer Macquarie’s global capabilities to Korean investors as locally relevant
investment services.”
BANKING
Bank
Internasional Indonesia or BII launched its banking operations in the
country. It set up a branch in Mumbai on Wednesday. The bank, headquartered in
Indonesia, is a subsidiary of the Maybank Group.
"BII India is all geared up to enter the Indian
market and emerge as a dominant Intra-ASEAN
Trade Finance Bank,'' Pravin Batra, CEO of BII's India operations. Trade
flow between India and the ASEAN countries is at US$ 79 billion and expected to
reach $100 billion by 2015. The bank is aiming at capitalising on the trade
flow business.
BII will initially focus on acquiring low cost
deposits and give loans while the full banking services will begin in
September. The bank will focus on corporate and commercial banking segment and
will participate in arranging buyers' credit and external commercial borrowings
for its Indian customers.
"The operations of BII in Mumbai will open up
new potential business opportunity for BII as India is considered one of the
fastest growing economies in Asia and the world. BII India will provide banking
products and services to meet the needs of Maybank Group's customers having
business interest in India, and Indian business communities conducting business
in the ASEAN countries where Maybank has presence,'' said president director of
BII, Dato Khairussaleh Ramli.
India’s third largest private sector lender Axis
Bank has launched its subsidiary in the United Kingdom to commence its banking
operations there.
On April 19, 2013, the bank had received approval
from the UK regulators to carry out the entire range of banking business,
including deposit taking, making loans & advances and Investments.
Cyril Anand, MD & CEO, Axis Bank UK Ltd, said:
“The bank would participate in corporate banking, retail banking & leverage
business opportunities available in the UK and the rest of European Economic
Area.”
With this branch, the bank's overseas presence has
grown to eight foreign offices, i.e. four branches, one each at Singapore, Hong
Kong, DIFC (Dubai) and Colombo (Sri Lanka), three representative offices at
Shanghai (China), Dubai and Abu Dhabi and an overseas subsidiary in London, UK.
BUSINESS
India has overtaken the US as the top buyer of
Nigerian crude
oil, a top Indian diplomat here has said. Indian High Commissioner to Nigeria Mahesh
Sachdev said recent statistics showed that India had been
buying more of Nigeria's crude than the US over the last three months.
"India will continue to cooperate with Nigeria
to improve its economy
and it will also assist the country in capacity building of workers in both the
public and private sectors," Sachdev said, during a courtesy visit to the
Governor of Niger state in northern Nigeria last Wednesday. On the bilateral
trade, he said the present figure stands at $10 billion, even as the total
investment of India in Nigerian economy could be valued at $16.6 billion.
Sachdev disclosed that India would partner with the
government of Kano state to establish a film city and also collaborate with the
Niger state government to establish health care facilities as well as improve
agriculture.
He also promised assistance in the state on the
training of young people who wish to embark on vocational education.
Governor of the state Babangida Aliyu commended
India for being one of the few countries that had kept faith with strengthening
the work force.
With Internet users on mobile phones increasing
rapidly in India, Yahoo is focusing on developing applications for this growing
market, a senior company official said Saturday.
Yahoo, which has its presence in almost all
categories of Internet users' daily habits, plans to move its personalized
experiences to mobile, said Hari Vasudeva, head, R&D at Yahoo India.
Yahoo was making talent-based acquisitions with lot
of it focused on growing mobile talent within the organization to develop very
personalized experiences for users that will inspire and delight them in their
daily habits, he told reporters on the sidelines of the sixth edition of the
Yahoo Hack India event.
About 250 hackers from different parts of India are
participating in the two-day event which began Saturday. Yahoo Hack is a way
for the company to engage with the developers community in the country and also
attract the best talent to work for it.
Vasudeva expects the number of mobile Internet users
in India to go up to 300 million by 2015 from the current 180 million.
With the prices of mobile phones coming down and new
devices being launched every month, the trend of using Internet on mobile is
going to accelerate. Vasudeva believes this will spur application development.
"We want our users to be able to experience our
best of breed services on mobile phones just like they do on desktops," he
said.
According to him, Yahoo reaches 62 percent of
Internet users in India. Out of 300 million users who access Yahoo on mobile
globally, 40 million are in India.
Yahoo India R&D centre at Bangalore has 2,000
employees and is the second largest centre out of its headquarters in the US.
FINANCE
Tata
Global Beverages Ltd said on Monday that it has entered into an agreement
with group company Tata Realty and Infrastructure Ltd to develop the former’s
property in Bangalore through a special purpose vehicle (SPV).
“The
consideration for the transfer of the company’s property is Rs.195 crore which
will be discharged by a mix of cash, equity or other securities in the SPV and
constructed space in the developed property. The necessary transaction
documents have been executed by the parties in this regard,” Tata Global
Beverages said in a filing to BSE. The company did not disclose details of
property development.
Tata
Realty is the real estate and infrastructure development arm of Tata Group.
Tata
Communications Ltd, a Tata Group firm, is also in the process of selling
its land in various cities. The company sold a piece of land in Chennai earlier
this year.
Abu Dhabi's Al Dahra Holdings LLC is picking up a 20
per cent stake in food products maker Kohinoor Foods Ltd for Rs 112.8 crore ($18.8
million). The deal involves Al Dahra International LLC, a subsidiary of Al
Dahra Holdings, buying shares at Rs 160 per unit, which is over four times
Kohinoor Foods’ closing price on the stock exchange on Friday.
Kohinoor Foods’ scrip shot up 19.92 per cent on
Monday morning, hitting Rs 46.05 a share, on the BSE. This gives the firm a
market capitalisation of Rs 129.86 crore.
Kohinoor Foods will issue a little over 7 million
shares to Al Dahra International. The deal also gives Al Dahra the right to buy
4.99 per cent more within six months from the date of completion of the
transaction.
"The investor will have the right to execute a
sale of its entire investment only after three years from the date of
allotment," said a filing to the exchange. Al Dahra will also have the
right to nominate a director on the board of Kohinoor Foods.
Al Dahra and Kohinoor Foods have also entered into a
joint venture to develop and manage a brown-to-white rice facility in Abu
Dhabi. Kohinoor will have a 20 per cent stake in the JV, called Al Dahra
Kohinoor, and also the right to appoint a director on its board.
This facility will have a capacity of 60,000 MT
scalable to 100,000 MT besides a storage facility of 30,000 MT. The JV will buy
minimum 25,000 MT of basmati rice from Kohinoor Foods every year.
Al Dahra is active in the agricultural sector and
specialises in the production of agricultural products and animal feed. It has
made investments in countries such as the UAE, the US, Spain, Serbia, Egypt and
South Africa.
HUMAN RESOURCE
MANAGEMENT
Companies have historically had a difficult time in
managing and tracking Employee leaves, attendance and calendars. Employees,
too, have faced challenges in communicating in-office availability to their
Managers and getting scheduled leaves approved. Managers traditionally have
struggled with project planning as they have not had a complete insight into
the availability of all their team members. Third party Human Resource
Management solutions exist but are hard to manage as they are not integrated
with the dashboards and portals used by Companies. Talygen, the world leader in Business
Management Automation, has now introduced an advanced Human Resources Module in
its industry leading Software as a Service (SaaS) web application. With this
module, Companies and Employees both now have a way to manage attendance,
leaves, overtime and project planning
Talygens powerful
Human Resource Management functionality now helps Managers plan, organize and
manage their resources effectively thus fueling increased productivity. The
latest feature along with a wealth of other capabilities such as Time Tracking,
Cloud Storage, Message Boards, CRM, Ticketing, Invoicing and Screen Shots
allows any Business Owner or Manager to quickly access information they need to
run their business efficiently.
INDIA BUSINESS
A coin, as they say, has two sides. Just like that,
a weak rupee also has two sides when it comes to merger & acquisitions
(M&As) involving Indian firms. On one side, the rupee depreciation will
make foreign purchases costlier for Indian firms. But on the other, it will
make Indian buys cheaper for foreign firms.
India Inc is reportedly chasing overseas deal opportunities worth $9 billion and the rupee's slide of nearly 10% this year will push acquisition costs up by Rs 2,000-3,000 crore. Bankers said overseas deals from certain sectors may see a dip as some companies are postponing or reconsidering their cross-border acquisition strategies. However, action is expected to continue from energy and metals sectors as the prices of commodities are linked to prices in the international markets and denominated in US dollar.
Mostly, Indian companies fund their overseas purchases through a mix of equity and debt. And the debt, denominated in foreign currency, is secured against the target firm's earnings. The rupee's movement, bankers said, will not impact the debt component but it would hit promoters' equity contribution as they will have to cough up more money.
India Inc is reportedly chasing overseas deal opportunities worth $9 billion and the rupee's slide of nearly 10% this year will push acquisition costs up by Rs 2,000-3,000 crore. Bankers said overseas deals from certain sectors may see a dip as some companies are postponing or reconsidering their cross-border acquisition strategies. However, action is expected to continue from energy and metals sectors as the prices of commodities are linked to prices in the international markets and denominated in US dollar.
Mostly, Indian companies fund their overseas purchases through a mix of equity and debt. And the debt, denominated in foreign currency, is secured against the target firm's earnings. The rupee's movement, bankers said, will not impact the debt component but it would hit promoters' equity contribution as they will have to cough up more money.
The Exim Bank of India's line of credit (LoC) to African countries is growing in proportion to the
Indian companies' interest in investing in the continent, says T.C.A.
Ranganathan, its chairman and managing director.
"The Exim Bank of India has been actively engaged both on behalf of
the government of India and on behalf of Indian companies with Africa, with
Ethiopia in particular," Ranganathan told IANS here.
EXIM Bank has been extending credit in Africa for
the past 15 years and in Ethiopia for about eight years. Till date, a more than
$1 billion LoC has been provided for the development of three sugar companies
in Ethiopia.
"We must assist Africa and partner with it in
its development by offering whatever expertise we have," Ranganathan said.
The bank has also played a major role in the
establishment of the Afriexim Bank by giving advisory support on the framework
and type of activities it should focus on.
Exim Bank has partnered in setting up the Global
Network of Exim Banks and Development Finance Institutions (G-NEXID) under the
auspices of the United Nations Conference on Trade and Development (UNCTAD).
"We were the first chair of this network and
also have a small share at the bank," Ranganathan stated.
During the second India-Africa Summit held in the
Ethiopian capital in 2011, Prime Minster Manmohan Singh pledged $5 billion to
African countries for their economic development.
"Trade finance is the first causality of a
financial problem which occurs anywhere in the world. This financial support is
mainly why we are actively and closely working with the governments of Ethiopia
and other countries of Africa, to strengthen our relationship,"
Ranganathan pointed out.
He said Indian companies have invested in sectors
like agriculture, steel, textiles and pharmaceuticals in Ethiopia because the
quality of governance and planning is very advanced and the government is clear
about its priorities.
INDIA MANAGEMENT
With sleek sedans and tough off-roaders, Tata Motors-owned Jaguar Land Rover (JLR) was among the last international luxury car brands to hop on the gravy train and chug into
India.
The German trio of BMW, Audi and Mercedes-Benz, which controls about 80 per cent of the domestic luxury car market, has already made India its home, flooding the market with almost everything sold by it internationally.
However, the late entry of JLR in 2009 has not affected its brand recall. In a dull market, last year, sales of its two brands (Jaguar and Land Rover) grew by 32 per cent to 2,393 units as against 1,813 units sold in 2011.
JLR has expanded its line-up to nine models with several variants, making it one of the most aggressive luxury auto players in the country.
To strengthen its line-up, Jaguar launched its latest model, F-Type today, priced at Rs 1.37 crore (the V8S version is priced at Rs 1.61 crore). The luxury cabriolet (automatic roof) is a first-of-its-kind Jaguar and among the few offered by luxury automakers in India.
Despite the steep price tag, atleast three buyers have confirmed bookings for the F-Type even before the car got officially launched. Since the sports car will be fully built in England before being shipped, consumers will have to wait for five months to get delivery. The waiting period will increase if buyers choose to customise the car.
However, the idea for JLR is not to eke out huge numbers from the luxurious Jaguar F-Type. The model, instead, will act as the crowd-puller, showcasing Jaguar's engineering prowess and capabilities.
Rohit Suri, vice president, Jaguar & Land Rover India, says, "The Jaguar F-Type is going to enhance the appeal of the brand in India. It is going to be the halo-effect car for the brand."
The German trio of BMW, Audi and Mercedes-Benz, which controls about 80 per cent of the domestic luxury car market, has already made India its home, flooding the market with almost everything sold by it internationally.
However, the late entry of JLR in 2009 has not affected its brand recall. In a dull market, last year, sales of its two brands (Jaguar and Land Rover) grew by 32 per cent to 2,393 units as against 1,813 units sold in 2011.
JLR has expanded its line-up to nine models with several variants, making it one of the most aggressive luxury auto players in the country.
To strengthen its line-up, Jaguar launched its latest model, F-Type today, priced at Rs 1.37 crore (the V8S version is priced at Rs 1.61 crore). The luxury cabriolet (automatic roof) is a first-of-its-kind Jaguar and among the few offered by luxury automakers in India.
Despite the steep price tag, atleast three buyers have confirmed bookings for the F-Type even before the car got officially launched. Since the sports car will be fully built in England before being shipped, consumers will have to wait for five months to get delivery. The waiting period will increase if buyers choose to customise the car.
However, the idea for JLR is not to eke out huge numbers from the luxurious Jaguar F-Type. The model, instead, will act as the crowd-puller, showcasing Jaguar's engineering prowess and capabilities.
Rohit Suri, vice president, Jaguar & Land Rover India, says, "The Jaguar F-Type is going to enhance the appeal of the brand in India. It is going to be the halo-effect car for the brand."
HH Global, leaders in global marketing services, has
been chosen by a leading global telecommunications services provider to provide
pan-Indian print management services. The organisation has operations in
over 20 countries across Asia and Africa.
HH Global has a significant presence in India
managing over 150 suppliers, which gives us the flexibility to print anywhere
in the country. This strong representation is important when considering
the challenges of managing business in India, across 15 states with such diversity
in culture and geography. HH Global has single points of contact
and vendors present in all 15 states which cater to 23 Indian
telecommunications geographical circles.
The company’s main office is in Mumbai, though it
has VAT registration in 20 states and a particularly strong presence also in
Delhi, Kolkata and Bangalore, with extra personnel deployed in each of these
cities to cater to the high volumes in these regions.
To give maximum support, HH Global has allocated 32
management level employees to work within the operations structure of the
client, catering for South, North, East and West reporting.
INSURANCE
Commercial Vehicle Finance firm Shriram Transport Corporation Ltd (STFC) is planning to
enter into insurance broking business and is currently waiting approval from the
insurance regulator to start operations of the subsidiary.
The company has applied to the Insurance Regulatory and Development Authority a few months back (Irda) and the business is to cater to the needs of the existing customers, said a senior company executive hear.
Speaking to reporters here, Umesh Revankar, managing director & CEO, STFC, said that the company has applied for approval from the Irda for insurance broking firm, which would be the third subsidiary of the company. The new subsidiary would be to meet the requirements of the existing around nine lakh customers. However, the structure of the new company is yet to be decided, he added.
In a prospectus filed by the company with the Securities and Exchange Board of India (Sebi), dated July 5, 2013, to raise Rs 750 crore through public issue of Non-Convertible Debentures (NCDs) the company said, "Further, our Company has incorporated a wholly owned subsidiary by the name of Shriram Insurance Broking Company Limited (SIBCL), with an objective of entering into the insurance broking business and Shriram Insurance Broking Company Limited has applied to the Irda for registration as a direct broker on February 4, 2013 and is awaiting receipt of the same."
The company has applied to the Insurance Regulatory and Development Authority a few months back (Irda) and the business is to cater to the needs of the existing customers, said a senior company executive hear.
Speaking to reporters here, Umesh Revankar, managing director & CEO, STFC, said that the company has applied for approval from the Irda for insurance broking firm, which would be the third subsidiary of the company. The new subsidiary would be to meet the requirements of the existing around nine lakh customers. However, the structure of the new company is yet to be decided, he added.
In a prospectus filed by the company with the Securities and Exchange Board of India (Sebi), dated July 5, 2013, to raise Rs 750 crore through public issue of Non-Convertible Debentures (NCDs) the company said, "Further, our Company has incorporated a wholly owned subsidiary by the name of Shriram Insurance Broking Company Limited (SIBCL), with an objective of entering into the insurance broking business and Shriram Insurance Broking Company Limited has applied to the Irda for registration as a direct broker on February 4, 2013 and is awaiting receipt of the same."
Banks may get to play the role of insurance
brokers soon, which will make them more accountable for the policies that
they sell to their customers. The Insurance
Regulatory and Development Authority (IRDA) is actively considering changes
to its broking norms that will permit banks to register themselves as insurance
broking entities.
At present, banks are selling insurance products by acting as corporate agents of insurance companies. Under the present arrangement, they are not registered by the insurance regulator and they are accountable only to the insurance companies. The insurance companies, in turn, are liable for any mis-selling by banks. As corporate agents, banks are allowed to represent only one life and one non-life company.
Of late, they have been allowed to represent an additional health insurance company. If they are allowed to register themselves as brokers, they will be allowed to sell policies of all companies and will be registered by IRDA. As registered entities, they will also be more intensely regulated by IRDA and the risk of mis-selling will expose their own balance sheets. "What we have seen is that banks generally sell policies to their own customers. Therefore, their primary responsibility should be towards their customers. Unlike a corporate agent, a broker is a representative of the customer," said T S Vijayan, chairman, IRDA. He confirmed IRDA is working on regulations to permit banks to become broking firms.
At present, banks are selling insurance products by acting as corporate agents of insurance companies. Under the present arrangement, they are not registered by the insurance regulator and they are accountable only to the insurance companies. The insurance companies, in turn, are liable for any mis-selling by banks. As corporate agents, banks are allowed to represent only one life and one non-life company.
Of late, they have been allowed to represent an additional health insurance company. If they are allowed to register themselves as brokers, they will be allowed to sell policies of all companies and will be registered by IRDA. As registered entities, they will also be more intensely regulated by IRDA and the risk of mis-selling will expose their own balance sheets. "What we have seen is that banks generally sell policies to their own customers. Therefore, their primary responsibility should be towards their customers. Unlike a corporate agent, a broker is a representative of the customer," said T S Vijayan, chairman, IRDA. He confirmed IRDA is working on regulations to permit banks to become broking firms.
INETRNATIONAL
BUSINESS
China's vast market for foreign goods and services,
once seen by global companies as a modern-day El Dorado, is becoming a weight
around their necks as its growth slows.
The rise of the Chinese economic "dragon"
over the last two decades has transformed international business. But now the
country is in the grip of a slowdown due to a slump in exports and banking
sector excesses, as recent data has shown. That has led fund managers worldwide
to re-assess their investments in companies with a focus on the world's No.2
economy.
"Anything China-sensitive is performing poorly
and the trend will not go away because there is no sign of growth
recovery," said Maarten-Jan Bakkum, investment strategist at ING
Investment Management, which has cut its holdings of China-exposed stocks.
Markets are already braced for slower commodity
demand. But Beijing's recent moves, from an anti-corruption drive that has
dented luxury demand to a crackdown on shadow banking, will hurt domestic
demand too, Bakkum said.
Indeed, investors fear a full-blown banking crunch
that could derail credit and consumption growth for years more than they fear
sub-7 percent economic growth.
"Even if part of the China fears is correct,
consumption will also be hit," he added.
MSCI's China Exposure Index, made up of about 50
companies that derive a significant portion of revenues from China, has fallen
around 10 percent this year. Two-thirds of the losses have come in the past
quarter with the darkening growth outlook.
In contrast, a similar MSCI list of stocks with
exposure to developed economies has gained over 12 percent in 2013, trading off
the improving outlook for the West and Japan.
Buying property worth nearly $3.5 billion in the year ended March
2013, Indians are among top five international real estate buyers in the US, according to the National Association of Realtors.
India along with Canada, China, Mexico and the
United Kingdom accounted for approximately 53% of international transactions
worth $68.2 billion, according to a survey by the association
The five nations have historically accounted for the
bulk of purchases reported from 68 countries, but Canada (23%) and China (12%)
have been the fastest growing sources over the years, it said.
Mexico (8%), India (5%) and the United Kingdom (5%)
followed, according to the survey.
International home sales in the US declined in the
past year, but are at their second highest level in recent years and are over
six% of total existing-home sales in value, the survey noted.
'The 2013 Profile of International Home Buying
Activity' shows interest in US properties continues to grow, signalling that
America continues to be regarded by international buyers as a great place to
own property, it said.
LOGISTICS
Exports remain a key factor in Vietnam’s economic
growth, but high logistics costs mean they are unable to achieve their full
potential.
Economists and other experts, speaking at a
conference on policies for economic growth, said the country's export
achievements would be even greater if it tackles issues like corruption, low
value-addition, and, most importantly, the high logistics costs.
Pham Minh Duc of the World Bank said the country saw
strong exports in the last two decades, with average annual growth topping 17
percent, but exports are “reaching their limit.”
Companies have to pay very high rates for logistics
compared to global rates, he said.
Exports last year topped US$114.6 billion.
News website Saigon Times quoted Paul
Vallely, another World Bank official, as saying logistics costs account for a
quarter of Vietnam's gross domestic products compared to 19 percent in China
and 8-9 percent in Japan.
Deepak Mishra, the bank's lead economist in Vietnam,
blamed the weak performance by state-owned companies on the high cost
of logistics.
MANAGEMENT
Microsoft has once again reorganized its management
structure, marking yet another strategy shift for a company that has a very
mixed track record in restructuring its business operations.
The shakeup, which Microsoft announced Thursday, is
intended to better align the company's organizational structure with its new
corporate strategy. CEO Steve Ballmer declared in October 2012 that Microsoft
would transition to a "devices and services" company, focusing on
making hardware, online services and apps that work together seamlessly across
multiple screens and gadgets.
The company will break up its product silos,
concentrating on four core areas: operating systems, apps, the cloud and
devices. Teams in each of those units will contribute to all of Microsoft's
core products, including Windows, Office, Server and Tools, enterprise
software, Bing, and Xbox. (Microsoft Dynamics, the company's business solutions
division, will continue to run independently of the larger structure.)
The new strategy, called "One Microsoft,"
will "enable more cross-group contribution," according to a memo
Ballmer sent around to his staff.
That has long been a problem for the company.
Insiders say the corporate culture has traditionally been so competitive that
collaboration with other teams has been discouraged.
Microsoft will hold a conference call at 12:30 p.m.
PT to discuss the plan in more detail.
"Times change, and Microsoft has to change with
it," said Al Hilwa, an analyst at IDC. "They are generally executing
on the outlines of the right strategy, but speed of execution and
responsiveness is their biggest issue right now. The new organization is likely
focused on exactly that."
Yet Microsoft has tried this kind of thing many
times before.
SUPPLY CHAIN
Sony DADC is launching a Global Platform Service to
manage its media clients’ complete lifecycle supply chain operations and their
third-party service providers, from demand through consumption, including
creative design support, manufacturing, fulfillment, retail services and
reverse logistics.
Sony DADC’s Global Platform Services will also
manage processes, solution development, and functionality to ensure supply
chain excellence, process efficiencies, and cost reductions.
Peter Colby, who previously oversaw Sony DADC Australia’s development into a full-service supply chain provider, has been appointed president of the Global Platform Services group, which will be based in London.
“The future of our industry requires simplified and integrated solutions - and we are in a unique position to make the entire media lifecycle process more cost effective and efficient.
Peter Colby, who previously oversaw Sony DADC Australia’s development into a full-service supply chain provider, has been appointed president of the Global Platform Services group, which will be based in London.
“The future of our industry requires simplified and integrated solutions - and we are in a unique position to make the entire media lifecycle process more cost effective and efficient.
“By utilizing the best external and internal
solutions available to build this unique service platform we are able to
support the future of both packaged and digital media. This is an exciting
phase in the future development of the media industry, our clients and Sony
DADC,” said Colby
Dieter Daum, president and chief executive said:
“Our goal is to remove the challenges and excessive costs of managing a full
supply chain solution while developing processes that can be dedicated to
extending the life of packaged media and enhancing the retail experience,” said
Dieter Daum, president and chief executive.
“By establishing an independent and cohesive
operations management platform that integrates with third-party providers, we
are able to further support our clients by addressing several challenges facing
the media industry today.”
IBM announced that it had helped Godrej Consumer
Products (GCPL) deploy IT solutions in supply chain to drive efficiency, gain
better visibility, improve controls and performance across geographies.
The move helps GCPL make right decisions on stock placement, thus giving its customers greater product variety at a lower cost.
In recent years, GCPL has expanded its operations into Asia, Africa, West Asia and Latin America through acquisitions. “This rapid expansion led to disparate and inconsistent technology and processes in many areas, requiring a holistic approach of IT enablement in supply chain management,” GCPL said.
“As our business continues to grow, we need a comprehensive supply chain solution to improve data visibility across the organisation for better agility and control,” executive vice president – IT of GCPL Subrata Dey said. “IBM helped us build a technology solution to gain real time insight into our supply chain, setting us up to successfully continue our expansion,” added Dey.
The move helps GCPL make right decisions on stock placement, thus giving its customers greater product variety at a lower cost.
In recent years, GCPL has expanded its operations into Asia, Africa, West Asia and Latin America through acquisitions. “This rapid expansion led to disparate and inconsistent technology and processes in many areas, requiring a holistic approach of IT enablement in supply chain management,” GCPL said.
“As our business continues to grow, we need a comprehensive supply chain solution to improve data visibility across the organisation for better agility and control,” executive vice president – IT of GCPL Subrata Dey said. “IBM helped us build a technology solution to gain real time insight into our supply chain, setting us up to successfully continue our expansion,” added Dey.
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Source of
Information for this issue: Google alert accessed on 15th and 16th July 2013
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Compilation
Sabita Sahu
Sabita Sahu
Junior Librarian
Concept, Layout and
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Chief Librarian
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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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