ASBM Business
Updates is a Weekly Selective Compilation of Business News from Various
Sources. To find details follow the links.
ASIAN BUSINESS
Pentagon
chief Chuck Hagel met with his Asian counterparts today as the United
States promotes its strategic tilt towards the region but a potential showdown
with Syria loomed over the talks.
Hagel
plans to call for restraint in the disputed South China Sea and to underscore America's focus on Asia-Pacific
at the gathering in Brunei of defence ministers from the Association of
Southeast Asian Nations, China and elsewhere, officials said.
The two-day
ASEAN meeting is the main event of Hagel's week-long trip to Southeast Asia but
a mounting crisis between Syria and the West has repeatedly competed for his
attention.
"We
are ready to go, like that," Hagel told the BBC in an interview Tuesday,
when asked about potential military action against Syria.
The
confrontation over the Syrian regime's alleged use of chemical weapons has
illustrated the challenge facing Washington's much-touted "rebalance" towards the
Asia-Pacific.
Turmoil in
the Middle East has repeatedly overshadowed the bid by President Barack Obama's
administration to bolster trade and military ties with economically vital Asia.
Despite
Pentagon budget cuts, US officials say Washington will stick by plans to deploy
more ships, troops, training and hardware to countries anxious about China's
growing military reach.
Hagel met
today with Japan's defence minister, Itsuno Onodera, who thanked him for
attending the gathering despite the Syria situation.
Onodera
said this week that Japan could be a "main player" if conflict erupts
in Asia and needed to be wary of China's maritime ambitions.
Tokyo is
feuding with Beijing over territorial claims in the East China Sea while some
Southeast Asian countries have accused China of increasingly provocative acts
in asserting its claims to nearly all of the South China Sea.
ASIAN MANAGEMENT
Japanese
fund managers cut their assets allocated to equities in August, mainly in Asian
markets, as worries the US Federal Reserve's tapering of its stimulus could
draw more capital out of emerging countries, a Reuters poll showed on Friday.
A survey
of eight Japan-based fund managers, polled between August 19 and 23,
also found the managers lifted their assets allocated to bonds in Europe to a
10-month high, as new data suggested that the euro zone and British economies
were crawling out of recession.
The
managers cut their overall allocation of assets to shares to 43.0% this month
from 43.7% in July, and reduced weighting for Asian shares to four-year low of
5.6% from 6.1% in July.
They also
raised their cash allocation to a four-month high of 4.1% from 3.9% in July,
while there were no changes in weightings of property or alternative assets.
"The
Fed's tapering may benefit the US economy but not necessarily the global
economy especially when funds are flowing out of emerging countries," said
a fund manager at a Japanese asset management firm, who declined to be
identified because of company policy.
Global
markets have struggled to adjust to the idea that the Fed will trim its $85
billion a month bond-buying programme, hammering assets in emerging countries
in Asia and elsewhere, where it was feared the end to cheap
money would reverse the flow of capital.
Indonesia
and India, which require the inflows to fund balance of payments shortfalls,
saw their stock markets fall sharply as their currencies sank to multi-year
lows.
Asian
equities as measured by the MSCI Asia-Pacific ex-Japan index dropped to a
seven-week low on Wednesday.
Within
their equity portfolios, the managers raised weighting for Japanese shares
modestly to a one-year high of 37.0% from 36.8% in July.
BANKING
The Reserve Bank of India (RBI) has proposed a comprehensive overhaul of the country’s
banking structure, to increase competition and growth, and for further
financial inclusion.
At present, only a universal banking structure is allowed; there is no separate licencing for niche activities as in developed nations. The central bank still thinks the universal model is the preferred model, particularly in the aftermath of the global financial crisis. However, it acknowledges the need for differentiated banking licences — for infrastructure financing, retail banking, wholesale banking and investment banks.
In a discussion paper issued on Tuesday, titled ‘Banking structure in India — the way forward’, the regulator has provided a road map for the reorientation. It proposes a four-tier structure, with the first tier of three to four large banks, with sizable international presence.
“The second tier is likely to comprise several mid-sized banking institutions, including niche banks with economy-wide presence. The third tier may encompass old private sector banks, regional rural banks and multistate urban cooperative banks,” the discussion paper said. The fourth tier might embrace many small privately owned local banks and cooperative banks.
For the creation of large banks, consolidation seems the way forward, the paper suggests. “The issue has assumed significance, considering the need for a few Indian banks to cater to global needs by becoming global players, and the growing corporate and infrastructure funding needs,” it said. Adding that such activities should be based on synergies and cannot be imposed.
Breaking away from the tradition of ‘stop and go’ licensing, RBI has also proposed a continuous authorisation policy. Till now, the country has seen three phases in bank licences — in 1993, 2001 and the present process which started in 2010.
At present, only a universal banking structure is allowed; there is no separate licencing for niche activities as in developed nations. The central bank still thinks the universal model is the preferred model, particularly in the aftermath of the global financial crisis. However, it acknowledges the need for differentiated banking licences — for infrastructure financing, retail banking, wholesale banking and investment banks.
In a discussion paper issued on Tuesday, titled ‘Banking structure in India — the way forward’, the regulator has provided a road map for the reorientation. It proposes a four-tier structure, with the first tier of three to four large banks, with sizable international presence.
“The second tier is likely to comprise several mid-sized banking institutions, including niche banks with economy-wide presence. The third tier may encompass old private sector banks, regional rural banks and multistate urban cooperative banks,” the discussion paper said. The fourth tier might embrace many small privately owned local banks and cooperative banks.
For the creation of large banks, consolidation seems the way forward, the paper suggests. “The issue has assumed significance, considering the need for a few Indian banks to cater to global needs by becoming global players, and the growing corporate and infrastructure funding needs,” it said. Adding that such activities should be based on synergies and cannot be imposed.
Breaking away from the tradition of ‘stop and go’ licensing, RBI has also proposed a continuous authorisation policy. Till now, the country has seen three phases in bank licences — in 1993, 2001 and the present process which started in 2010.
HDFC
Bank on Thursday said it is planning to open over 300 new branches across
the country and hire 1,000 to 2,000 people as part of its expansion programme
in the current fiscal.
"We have submitted our plans (for opening of
new branches) to RBI for approval ... it (branch opening plans) is 300 upwards
and also includes semi-urban branches," bank's Country Head (Branch
Banking) Navin Puri told reporters here. "Once we have licences (from RBI)
for opening new branches ... 1,000-2,000 people will be hired," he added.
Asked whether the country's present weak economic environment
will have any impact on its expansion plans, Puri said, "I do not think
the numbers (branch opening) will be revised. It will remain upwards 300 (for
current fiscal). We do not think the changes in economic environment will be
going to affect us."
HDFC
bank has national distribution network of 3,119 branches across the country as
on June 30, 2013.
He asserted that there would not be any serious
impact of current tough economic environment on bank's loan book. "We will
grow better than the industry," he said.
He said credit growth had come down because of
various reasons.
On record rupee depreciation
against US
dollar, Puri said, "Rupee (depreciation) is good for NRI deposits. We
have seen increase in NRI deposits and the growth number is better than the
industry."
Asked about impact of new players coming in bankings
sector on existing players, HDFC Bank Country Head said that there was enough
room for growth for existing as well as new players in banking business.
"We strongly believe, it (giving new banking
licenses) will not impact our growth as there is enough market for existing and
future players," he said.
BUSINESS
India’s economic growth fell to a four-year low of
4.4% in the quarter ended June as manufacturing and mining activity shrunk,
data showed on Friday.
The gross domestic product (GDP) was up 5.4% in the same period last fiscal and 4.8% during the last quarter.
To make matters worse, fiscal deficit for the April-July period came in at Rs 3.4 lakh crore, or 62.8% of the target set out by the government for the full year. The net tax receipts for the period stood at Rs 1.45 lakh crore and the total expenditure at Rs 5.21 lakh crore.
Slowdown in consumption threw a nasty surprise on an economy already suffering because of a dull investment climate, though government spending saved the day. Without this, first-quarter GDP growth would have been lower at 4%.
Growth of the manufacturing and mining industries fell by 1.2% and 2.8%, respectively.
However, there was an increase of 9.4% in the community, social & personal segment. Financing, insurance, real estate & business services were up 8.9% compared with the same quarter last fiscal.
“Government spending was a significant driver of growth as private consumption growth weakened further to 1.6% and investments fell by 1.2% compared to a year ago amidst lack of policy reforms, procedural delays and persistent supply-side bottlenecks,” said economists Dharmakirti Joshi and Neha Duggar Saraf at Crisil.
The gross domestic product (GDP) was up 5.4% in the same period last fiscal and 4.8% during the last quarter.
To make matters worse, fiscal deficit for the April-July period came in at Rs 3.4 lakh crore, or 62.8% of the target set out by the government for the full year. The net tax receipts for the period stood at Rs 1.45 lakh crore and the total expenditure at Rs 5.21 lakh crore.
Slowdown in consumption threw a nasty surprise on an economy already suffering because of a dull investment climate, though government spending saved the day. Without this, first-quarter GDP growth would have been lower at 4%.
Growth of the manufacturing and mining industries fell by 1.2% and 2.8%, respectively.
However, there was an increase of 9.4% in the community, social & personal segment. Financing, insurance, real estate & business services were up 8.9% compared with the same quarter last fiscal.
“Government spending was a significant driver of growth as private consumption growth weakened further to 1.6% and investments fell by 1.2% compared to a year ago amidst lack of policy reforms, procedural delays and persistent supply-side bottlenecks,” said economists Dharmakirti Joshi and Neha Duggar Saraf at Crisil.
The Aditya
Birla Group is close to concluding a deal to buy out Jaiprakash Associates'
cement plant in Gujarat, ending protracted negotiations, which have gone on a for
a year.
The Kumar Mangalam Birla-controlled conglomerate is
likely to pay close to Rs 3,500 crore to acquire the 4.8 million tpa unit and
an announcement may come as early as next week.
"We are in discussions for more than a year. We
are nearing a deal. There could be a formal announcement soon if things do not
go haywire at the last minute," said an executive close to the
transaction. The Aditya Birla spokeswoman was unavailable for comments. Askari
H Zaidi, a spokesman for Jaiprakash, did not answer questions on the subject.
ET was the first to write about the negotiations
between the two players on June 15, 2012. The deal will help the group's cement
company Ultratech
Cement to ramp up capacity.
"We have blueprinted an audacious growth plan.
By 2015, our goal is to scale up our cement capacity to 64.45 million tonnes
per annum from the current 53.90 million tonnes," group chairman Kumar
Mangalam Birla had said in a recent letter to shareholders.
Talks between the two fell through towards the end
of last year due to differences over valuation. Birla had told ET last year
that the group did not pursue the deal on account of this divergence. But
negotiations revived recently after valuations fell in the wake of the slump in
the economy and the capital markets.
INDIA MANAGEMENT
ICICI Prudential Asset Management Company announced the
launch of a fund which would collect money from Indian investors to invest in a
global equity fund managed by Nordea Asset Management Company.
The fund
is open from 27th August to 10th September and has a minimum ticket size of
Rs.5000.
Nimesh
Shah, managing director and chief executive officer at ICICI Prudential
Asset Management Company said the fund is aimed at capitalising on a global
recovery.
“Global
economies are on the path to recovery; global equities are currently available
at reasonable valuations to the investors. With this context, the Indian
investor can choose to make attractive global assets a part of their portfolio.
The idea behind the launch of ICICI Prudential Global Stable Equity Fund is to
provide an opportunity to Indians to invest in a global product that provides
them access to investing into stable companies across the globe.”
Allan
Polack, chief executive officer at Nordea Asset Management Company suggested
that the fund would be a good way for Indians to diversify their portfolios.
INSURANCE
Reliance General Insurance is focusing more on fire,
engineering and marine insurance segments as part of its plan to diversify
product basket and achieve profitable growth, a top company official said.
"We are focusing on commercial lines, fire, engineering and marine insurance, which are still untapped and more profitable than traditional segments. We are trying to grow these portfolios this fiscal," Reliance General Insurance Chief Executive Rakesh Jain said.
As per the company, while fire insurance accounts for 8% of its total business, engineering segment contributes around 4%, marine 2% and others including commercial lines account for 6%.
Jain also said the company is reducing its dependence on motor insurance segment and plans to bring it down to below 60% by the end of this financial year.
"Our aim is to expand our presence in fire and engineering segments and increase their business contributions in the next couple of years," he said, adding the company plans to increase health insurance contribution to 20% from present 16%.
The general insurer also aims to come up with sector specific insurance products.
"We are planning to devise sector-wise insurance schemes. We are in touch with people in cement, IT and power sectors and are working to create a more risk-based approach for different sectors," Jain said.
Reliance General, which is part of Reliance Capital, has posted 25% increase in gross written premium to Rs 706 crore in the June quarter.
"We are focusing on commercial lines, fire, engineering and marine insurance, which are still untapped and more profitable than traditional segments. We are trying to grow these portfolios this fiscal," Reliance General Insurance Chief Executive Rakesh Jain said.
As per the company, while fire insurance accounts for 8% of its total business, engineering segment contributes around 4%, marine 2% and others including commercial lines account for 6%.
Jain also said the company is reducing its dependence on motor insurance segment and plans to bring it down to below 60% by the end of this financial year.
"Our aim is to expand our presence in fire and engineering segments and increase their business contributions in the next couple of years," he said, adding the company plans to increase health insurance contribution to 20% from present 16%.
The general insurer also aims to come up with sector specific insurance products.
"We are planning to devise sector-wise insurance schemes. We are in touch with people in cement, IT and power sectors and are working to create a more risk-based approach for different sectors," Jain said.
Reliance General, which is part of Reliance Capital, has posted 25% increase in gross written premium to Rs 706 crore in the June quarter.
LOGISTICS
Nurminen Logistics will carry out the overall machinery
delivery to
Svetlogorsk, Belarus for the pulp mill of the mechanical
engineering group
Andritz. The value of logistics in this large project is
more than EUR 2
million. The project delivery consists of more than 450
loads, approximately
one third of which are special transports. In addition to
transport, the
Svetlogorsk delivery includes the overall management of
transport logistics in
the project. Transports for the project have already started
and will continue
until mid-2014.
During the past few years, Belarus has invested in
industry and infrastructure
development and the country's attractiveness as an
investment target has
increased. Nurminen Logistics' project delivery is
the largest project in
Belarus carried out by a Finnish logistics company
this far.
Hannu Vuorinen, Senior Vice President, Special
Transports and Projects at
Nurminen Logistics, says: --The selection of
Nurminen Logistics as the logistics
partner for the Svetlogorsk projects is yet another
testimony of our ability to
deliver demanding project entities to our
internationally operating customers.
Belarus is a familiar operating area for us: we have
delivered large-scale
special transports there before via the ports in the
Baltic countries, for
instance. Efficient management of the entire process
from load planning to
reporting generates both efficiency in deliveries
themselves and cost savings
for our customers as load sizes and consignments can
be optimised in the best
possible manner. The Svetlogorsk project requires exactly
the type of special
expertise in which Nurminen Logistics is at its
best.
The Rs 8-crore initial public offer of Tiger Logistics closed today and its shares will be listed
on the SME (small and medium enterprises) platform of the BSE.
The 11.4 lakh shares public issue had opened for subscription on August 27, at Rs 66 per share.
"The listing will foster our company's visibility in the Indian logistics space and strengthen our fundamentals and credibility to match up to the competition from MNC giants that are increasing eating into our market share," said Harpreet Singh Malhotra, MD, Tiger Logistics.
With customers such as Honda Cars, Hero MotoCorp, Yamaha, LG, DRDO and Bajaj Auto it is the 9th logistics company in the country to go public.
The company will raise about Rs 8 crore through this offer, Tiger Logistics said in a statement.
Sarthi Capital Advisors Pvt Ltd was the book running lead manager to the issue.
The 11.4 lakh shares public issue had opened for subscription on August 27, at Rs 66 per share.
"The listing will foster our company's visibility in the Indian logistics space and strengthen our fundamentals and credibility to match up to the competition from MNC giants that are increasing eating into our market share," said Harpreet Singh Malhotra, MD, Tiger Logistics.
With customers such as Honda Cars, Hero MotoCorp, Yamaha, LG, DRDO and Bajaj Auto it is the 9th logistics company in the country to go public.
The company will raise about Rs 8 crore through this offer, Tiger Logistics said in a statement.
Sarthi Capital Advisors Pvt Ltd was the book running lead manager to the issue.
MARKETING
In today's digital world, Internet
marketing services are the mark of a business taking itself to the next
level. New companies hoping to start a wave of hype before launching, local
stores that have found stability and are hoping to expand through a strong
Internet presence, and established businesses that want to truly corner the
market are all strong candidates for the website
development services available at Cyberset. From Ecommerce development and social media page design to
search engine optimization (SEO) and graphic design and animation, Cyberset
offers a whole suite of services that can elevate a company's level of
professionalism and customer influence.
When continuing to expand, a company needs a
professional online front that represents their business with the respect it
deserves. The web team and graphic designers who work at Cyberset create
elegant, sleek work that makes clients' webpages look expert and contemporary.
Then, for companies who want to offer their services online, Cyberset can set
up an incredibly user friendly shopping cart that makes shopping a breeze.
After all, there's nothing as off-putting to a customer as a tacky, hard to
navigate website that also has a malfunctioning shopping cart. That's never an
issue when working with Cyberset; the team of Internet marketing experts and
web design professionals truly believe that attention to detail and
thoroughness are key to success in online marketing. In many ways, the work
that Cyberset puts online is an unofficial business card for the company's
efforts.
Another tool at Cyberset's disposal that can spread
the word is through its world-class writing department. The team of Internet
savvy wordsmiths can create engaging social media posts and interest-building
newsletters that build a customer's investment with Cyberset's client. These
writings can engage this customer base by spreading the word about specials,
relevant news stories, personal information about the company, and any type of
tone and sense of character a client requests.
Apple has begun the marketing
campaign for its latest iPhones, sending out invitations to an event at its
campus in California on 10 September.
Featuring a rainbow collection of dots alongside
four grey circles and the words "This should brighten everyone's
day", the invitations are confirmation of the already rumoured launch date,
and hint at the arrival of its first low-cost handset. Dubbed the iPhone 5C, the cheaper version
of Apple's best-selling product is expected to come in a range of coloured
casings.
Apple is also expected to use the event to showcase
its latest flagship model, the iPhone 5S. The company is holding a separate
event for European journalists in Berlin at its Kurfürstendamm Apple Store,
where the California launch will be simulcast.
Details may also be shared about iTunes Radio,
Apple's answer to the music streaming service Spotify, as it officially shows
off the iOS 7 operating system on which the latest devices will run.
Leaked
photographs showing the iPhone 5C in yellow, blue, pink and white suggest
the budget model will be housed in plastic casing, with reports indicating its
screen and insides will be largely those of the iPhone 5.
ODISHA BUSINESS
The Right to Fair Compensation and Transparency in
Land Acquisition and Rehabilitation and Resettlement Bill-2012, passed in the
Lok Sabha on Thursday, has a lot of bearing on Odisha which faces an uphill
task in procuring land for various mega projects in the state.
The projects, which have suffered delays due to protracted agitations over the land issue, include Posco’s 12 million tonne steel plant at Paradip, Tata Steel’s 6 million tonne steel plant at Kalinganagar, Essar’s six million tonne state plant at Paradip, Jindal Steel and Power’s (JSPL) six million tonne steel project near Angul.
However, sources said, the new central law will not have much of an impact on the implementation of these projects as all of them, except Posco, have started work on their respective projects after settling land alienation and compensation issues.
Even in case of Posco, the new act may not be an impediment for the time being, as the company has scaled down its land requirement to only 2,700 acres of government land to start first phase project work comprising 8 million tonne steel capacity. With the proposed law being applicable for acquisition of private land, the company sees no immediate threat to its plan.
But ArclorMittal, which also proposed to build a 12 million tonne steel plant in the state, was not as lucky. A sizeable chunk of the 6,000 acres sought by the company for the project, was private land and the company recently pulled out of Odisha citing inordinate delay in land acquisition.
The projects, which have suffered delays due to protracted agitations over the land issue, include Posco’s 12 million tonne steel plant at Paradip, Tata Steel’s 6 million tonne steel plant at Kalinganagar, Essar’s six million tonne state plant at Paradip, Jindal Steel and Power’s (JSPL) six million tonne steel project near Angul.
However, sources said, the new central law will not have much of an impact on the implementation of these projects as all of them, except Posco, have started work on their respective projects after settling land alienation and compensation issues.
Even in case of Posco, the new act may not be an impediment for the time being, as the company has scaled down its land requirement to only 2,700 acres of government land to start first phase project work comprising 8 million tonne steel capacity. With the proposed law being applicable for acquisition of private land, the company sees no immediate threat to its plan.
But ArclorMittal, which also proposed to build a 12 million tonne steel plant in the state, was not as lucky. A sizeable chunk of the 6,000 acres sought by the company for the project, was private land and the company recently pulled out of Odisha citing inordinate delay in land acquisition.
RETAIL
Retail inflation for
industrial workers has eased marginally to 10.85 per cent in July compared to
11.63 per cent in June this year, even as prices of food articles continued to
remain high.
“The
year—on—year inflation measured by monthly CPI—IW stood at 10.85 per cent for
July, 2013 as compared to 11.63 per cent for the previous month and 9.84 per
cent during the corresponding month of the previous year,” a Labour Ministry
statement said.
The food
inflation stood at 14.10 per cent against 14.86 per cent of the previous month
and 11.27 per cent during the corresponding month of the previous year.
The retail
inflation measured in terms of All India Consumer Price Index—Industrial
Workers (CPI—IW) for July rose by 4 points and pegged at 235.
On 1—month
percentage change, it increased by 1.73 per cent between June and July compared
with 1.92 per cent between the same two months a year ago.
The
largest upward pressure to the change in current index came from food group
contributing 1.99 percentage points to the total change.
At item
level, Rice, Fish Fresh, Goat Meat, Milk, Onions, Chillies Green, Potato,
Tomato and other Vegetables, electricity Charges, Firewood, Bus Fare, Petrol
are responsible for the rise in index.
However,
this surge in prices was compensated to some extent by groundnut oil, primary
and secondary school fees putting downward pressure on the index.
Sesa Goa, Mahindra & Mahindra Financial Services, Financial Technologies (India) and Bhel are among the other gainers.
Future Retail spurted 10.35% to Rs 74.65 and topped
the gainers in the BSE's 'A' group. The stock rose on volume of 13.50 lakh
shares, higher than average daily volume of 9.16 lakh shares in the past two
weeks.
Sesa Goa galloped 9.39% to Rs 167.25 and was second biggest
gainer in 'A' group. The stock surged ahead of its inclusion in the S&P BSE
Sensex on Tuesday, 27 August 2013. Sesa Goa will replace Sterlite Industries
(India) in the Sensex following the scheme of amalgamation between the two
Vedanta group firms whereby Sterlite Industries (India) has been merged with
Sesa Goa.
Mahindra & Mahindra Financial Services jumped
8.11% to Rs 233.95 and was the third biggest gainer in 'A' group. The stock
rose on bargain hunting after sliding 15.09% in prior six trading days to Rs
216.40 on 23 August 2013 from a recent high of Rs 254.85 on 14 August 2013.
Financial Technologies (India) surged 7.45% to Rs
144.25 and was fourth biggest gainer in 'A' group.
SUPPLY CHAIN
3ESC
Features Automated Analytics and Reporting to Support Business Continuity,
Enhance Competitive Agility, Bolster Market Access, and Reduce Costs
Carlsbad,
Calif., August 29, 2013 - 3E Company, a leading provider of environmental
health and safety (EH&S) compliance and information management services,
today announced the availability of 3ESC(TM), which facilitates product
compliance and mitigates supply chain risk. The new web-based platform is the
foundation for 3E's supply chain practice, and it is enriched with a range of
associated content, services, and solutions to support product compliance
initiatives. Those initiatives include compliance assurance, supplier
engagement, customer response, reasonable country of origin inquiry (RCOI) due
diligence, and obtainment services, along with industry-leading information and
documentation management.
3ESC
serves as a central repository for critical product, supplier, and raw material
risk information, including product contents, compliance status, country of
origin, and georisk. The platform is fueled by content collected from upstream
suppliers by 3E's team of global obtainment specialists and enriched by 3E's
team of regulatory experts.
3ESC's
scalability enables customers to nimbly respond to a broad scope of
requirements, including major compliance obligations such as Europe's
Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH)
regulatory framework; the Restriction of Hazardous Substances Directive
2002/95/EC (RoHS); and Section 1502 of the Dodd-Frank Act, which regulates
conflict minerals. It can also be used to obtain, document, and manage the wealth
of product-specific data necessary to inform a complete compliance-based
product risk profile and to substantiate due diligence activities. With new
modules on the road map, an investment in the platform will also facilitate
compliance with regulations and obligations that emerge in the future.
_______________________________________________________________
Source of
Information for this issue: Google alert accessed on 2nd and 6th Sept 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.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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