ASBM Business
Updates is a Weekly Selective Compilation of Business News from Various
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ASIAN MANAGEMENT
Singapore
Exchange (SGX) is introducing Asian foreign exchange (FX) futures for
deliverable and non-deliverable Asian currencies from 11 November 2013. Futures
contracts for six currency pairs, AUD/USD, AUD/JPY, USD/SGD, INR/USD, KRW/USD
and KRW/JPY, will be launched initially.
SGX's
introduction of Asian FX futures is in line with global G20
regulatory reforms where all standardised OTC derivative contracts should be
traded on exchanges or electronic trading platforms, where appropriate, and
cleared through central counterparties. The trading of FX derivatives on a
regulated exchange platform will promote greater transparency, and better serve
investment and risk management needs in the Asian time zone.
"The
trading of Asian FX futures on SGX offers global investors a transparent,
margin-efficient and well-regulated marketplace to seamlessly manage their
Asian currency risks. We will be adding more currency pairs to our Asian FX
suite over the next 12 to 18 months. This comprehensive range of Asian FX
futures will contribute towards the continued growth of Singapore's FX market,
which is already the world's third biggest FX centre," said Magnus Bocker,
CEO of SGX.
SGX is a
key risk management centre for customers with exposure to Asian equities risks
and the world's biggest offshore market for Asian equity derivatives. The
launch of Asian FX futures on SGX enables customers to manage both currency and
equity risks at the same clearing house, thereby maximising operational and
capital efficiencies.
"By
bringing Asian foreign exchange trading onto the exchange, SGX helps customers
in their currency risk management activities and to minimise counterparty
risks. We are delighted to be supporting the launch of Asian FX futures in
Singapore as a market-maker for the USD/SGD currency pair," said Andrew
Ng, Group Executive (Treasury and Markets), DBS Bank.
BANKING
Plans are afoot to launch the country's first all
women bank -- Bharatiya Mahila Bank-- on November 19, the birth anniversary of
former Prime Minister Indira Gandhi.
"We have asked the Election Commission...it
(the bank) might be as well inaugurated on November 19. All work has been
completed. "But whether we can do it on November 19, whether we can do it
in Delhi or in other city, these are matters my secretary is talking to the
Election Commission," Finance
Minister P
Chidambaram said at a press conference here.
The government is seeking Election Commission's nod
for launch of the bank, proposed in the Union Budget,
as the process of assembly elections in five states, including Delhi, is on.
The public sector Bharatiya
Mahila Bank proposes to have 25 branches by March 31, 2014.
The government has already approved Rs 1,000 crore
seed capital for the women focused public sector bank, announced by Finance
Minister P Chidambaram in his budget speech.
The proposed bank, to be headquartered at Delhi, is
likely to be operational by November this year.
Reserve Bank of India gave its in-principal approval
for the Bharatiya Mahila Bank in June and the banking company is being set up,
the official added.
One of the key objective of the Bank is focus on the
banking needs of women and promote economic empowerment.
The bank has invited applications through online
mode from female candidates for 115 posts.
BUSINESS
The Tatas may not have got permission to open a bank
yet, but they are taking big strides in financial inclusion, a condition that
helps a company get a licence.
The least-banked districts are priority for the Tatas, which is pushing for cash delivery through white-label ATMs, which are not owned and operated by any bank. The Reserve Bank of India has permitted non-banking companies to deploy white-label ATMs, allowing customers to withdraw cash from these machines using debit cards of any bank, in an effort to reach out to the deepest pockets of the country.
The Tata group company, Tata Communications Payment Solution, has got RBI clearance to instal 15,000 ATMs in the next three years, two-third of which will be in smaller towns. It said it will roll out three machines in the rural belt and 17 in semi-urban districts for every 10 machines installed in bigger cities, in line with the country's financial inclusion agenda. The group has installed 400 machines so far.
The company is the first one to launch white-label ATM network in India; others like Muthoot Finance, SREI Infrastructure Finance, Prizm Payments and AGS Transact are among the 12 that have got in-principle approval from the banking regulator to instal ATMs.
"ATM density is low in India and there's enough space for everyone to do business," Tata Communications Payment CEO Sanjeev Patel said, after announcing the ATM roll-out plan in Bengal. "We have chosen West Bengal reasonably early in our strategy. Low ATM density in northern parts of West Bengal makes it an attractive region," he said.
BUSINESS MANAGEMENT
The least-banked districts are priority for the Tatas, which is pushing for cash delivery through white-label ATMs, which are not owned and operated by any bank. The Reserve Bank of India has permitted non-banking companies to deploy white-label ATMs, allowing customers to withdraw cash from these machines using debit cards of any bank, in an effort to reach out to the deepest pockets of the country.
The Tata group company, Tata Communications Payment Solution, has got RBI clearance to instal 15,000 ATMs in the next three years, two-third of which will be in smaller towns. It said it will roll out three machines in the rural belt and 17 in semi-urban districts for every 10 machines installed in bigger cities, in line with the country's financial inclusion agenda. The group has installed 400 machines so far.
The company is the first one to launch white-label ATM network in India; others like Muthoot Finance, SREI Infrastructure Finance, Prizm Payments and AGS Transact are among the 12 that have got in-principle approval from the banking regulator to instal ATMs.
"ATM density is low in India and there's enough space for everyone to do business," Tata Communications Payment CEO Sanjeev Patel said, after announcing the ATM roll-out plan in Bengal. "We have chosen West Bengal reasonably early in our strategy. Low ATM density in northern parts of West Bengal makes it an attractive region," he said.
BUSINESS MANAGEMENT
Neocol has unveiled SmarterECM.com,
its new cloud-based enterprise content management platform based upon IBM’s ECM
technology.
SmarterECM™ is informed by over two years’ analysis of the crucial cloud
software needs and uses of business clients. With it, Neocol hopes to meet the
growing demand for cloud-based access to Enterprise Content Management (ECM) technology. SmarterECM™
is the latest development in Neocol’s portfolio of popular cloud solutions
utilizing IBM FileNet.
SmarterECM™ offers extensive enterprise content management capabilities while lowering traditional software deployment costs. Cloud-based access to SmarterECM™ bypasses the need for hardware, installation, licenses or maintenance. By reducing these operating costs, Neocol hopes to make ECM more accessible to mid-market businesses.
SmarterECM™ is available in four editions: Professional, Corporate, Enterprise, and Ultimate. The editions include storage, basic document management, search features, auto backup and disaster recovery, and extensive document security. To allow for quick and convenient deployment, Neocol is also offering SmarterECM™ departmental templates for Human Resources, Finance, Legal, Marketing and Sales departments. Various edition features range from mobile access and dynamic advanced search to ad-hoc workflow and advanced case management.
SmarterECM™ is a fully managed environment with a global support desk. While catering to clients, Neocol will also be offering a global partner program, enabling other business solution providers to take better advantage of cloud-based ECM technology.
SmarterECM™ offers extensive enterprise content management capabilities while lowering traditional software deployment costs. Cloud-based access to SmarterECM™ bypasses the need for hardware, installation, licenses or maintenance. By reducing these operating costs, Neocol hopes to make ECM more accessible to mid-market businesses.
SmarterECM™ is available in four editions: Professional, Corporate, Enterprise, and Ultimate. The editions include storage, basic document management, search features, auto backup and disaster recovery, and extensive document security. To allow for quick and convenient deployment, Neocol is also offering SmarterECM™ departmental templates for Human Resources, Finance, Legal, Marketing and Sales departments. Various edition features range from mobile access and dynamic advanced search to ad-hoc workflow and advanced case management.
SmarterECM™ is a fully managed environment with a global support desk. While catering to clients, Neocol will also be offering a global partner program, enabling other business solution providers to take better advantage of cloud-based ECM technology.
INDIA BUSINESS
The United States Agency for International
Development (USAID) Wednesday announced three partnerships with Indian
organisations to share low-cost agricultural innovations and technologies with
African countries.
"USAID has granted financial awards to three
Indian organizations through its India-Africa Agriculture Innovations Bridge Programme, aimed at
sharing Indian innovations with African countries for increased food security
and nutrition under Feed the Future, the US government's Global Hunger &
Food Security Initiative," said an US embassy release here.
The technologies to be shared were developed by
Indian innovators and include a low-cost tractor, an organic fertilizer, and a
solar dryer, it added
USAID, in partnership with Indian non-profit
organization Society for Research and Initiatives for Sustainable Technologies
and Institutions (SRISTI) will transfer three types of low-cost mechanization
and processing equipment to Kenya.
In partnership with Indian company AquAgri
Processing Private Limited, USAID will improve agriculture production by
promoting African farmers' use of organic fertilizer made out of a seaweed
extract.
"Over the next three years, the company will
develop a fertilizer concentrate and powder to export and market to at least
seven African countries," the statement said.
In the third project, USAID will partner Science for
Society to introduce Solar Conduction Dryers (SCD) for reducing post-harvest
losses in Africa. SCD, a unique low-cost Indian innovation, provides an
electricity-free solution to preserve food in some environments where there is
no ready access to electricity, the statement said.
Fair trade watchdog CCI has approved Microsoft’s
proposed $7.2 billion acquisition of Nokia’s mobile devices business, citing
that the deal would not have adverse impact on competition in the Indian
market.
Seen as one of the significant global M&A deals,
software giant Microsoft would acquire Finnish major Nokia’s devices and
services business.
The regulator has given the approval in less than
two months from the day the transaction was announced.
Approving the transaction, Competition Commission of
India (CCI) said the combination “is not likely to have appreciable adverse
effect on competition in India.”
“As regards the proposed combination, it is noticed
that in India, while Nokia is active in the D&S (Devices & Services)
business of mobile handsets, Microsoft is not active in that business,” CCI
said in its order dated October 24 but made public on Tuesday.
A notice seeking approval was submitted to the CCI
on October 3 while the deal was finalised on September 2.
As per the deal, Microsoft Corp and its wholly-owned
subsidiary Microsoft International would acquire Nokia Corp’s Devices and Services
(D&S) business and related arrangements.
Microsoft would acquire substantially Nokia’s entire
D&S business, including mobile phones and smart devices business units.
According to CCI, it is generally observed that
D&S business of mobile/smartphones and tablets, along with the business of
operating system and other applications that are used in the devices, is
extremely dynamic. This, in turn, makes the product life cycles of such devices
very short, it added.
Further, the regulator said that it is the ecosystem
in this business which drives the demand between the users, application
developers, and designers/manufacturers.
INDIAN
MANAGEMENT
The merger of global management consulting firm Booz
& Company with PricewaterhouseCoopers is likely to strengthen the latter's
consulting business in India across some sectors, considering its expertise in
niche management consulting.
Booz & Company, established by Edwin Booz in 1914 in the US, entered the Indian market in the mid-1990s. Then, as part of a global restructuring strategy, the company exited the Indian market, according to its website. While it had no office here till it re-entered in 2008, the company provided services to Indian clients during these eight years.
With offices in Mumbai and here, Booz & Co offers consulting services in a variety of sectors - communication, media and technology, consumer and retail, energy, chemicals and utilities, financial services, health and private equity. Its India officials could not be reached for comment. It has two managing directors, two partners, one international director and seven principals in India.
PwC has a bigger presence in India, with offices across eight cities and with 6,500 employees (Booz would have less than 100). Consulting comes under PwC's advisory business. A third of its business in India is from advisory services.
Booz & Company, established by Edwin Booz in 1914 in the US, entered the Indian market in the mid-1990s. Then, as part of a global restructuring strategy, the company exited the Indian market, according to its website. While it had no office here till it re-entered in 2008, the company provided services to Indian clients during these eight years.
With offices in Mumbai and here, Booz & Co offers consulting services in a variety of sectors - communication, media and technology, consumer and retail, energy, chemicals and utilities, financial services, health and private equity. Its India officials could not be reached for comment. It has two managing directors, two partners, one international director and seven principals in India.
PwC has a bigger presence in India, with offices across eight cities and with 6,500 employees (Booz would have less than 100). Consulting comes under PwC's advisory business. A third of its business in India is from advisory services.
INTERNATIONAL
BUSINESS
Toyota Motor Corp plans to roll out hybrid versions
of its large sport utility vehicles from 2016 to prepare for tougher
environmental regulations, the Nikkei reported, quoting sources.
The automaker intends to develop hybrid systems
capable of powering such big vehicles, the newspaper reported.
Toyota plans to add a hybrid version of the Land
Cruiser SUV to the
line-up and introduce such versions of its international multipurpose vehicles,
such as the Fortuner, designed for emerging markets, the business daily
reported. Toyota, which debuted its first mass-produced hybrid car, the Prius,
in 1997, now offers about 20 hybrid models, mostly passenger
cars, according to the Nikkei. Toyota, which debuted its first
mass-produced hybrid car, the Prius, in 1997, now offers about 20 hybrid
models, mostly passenger
cars, according to the Nikkei.
The company has sold more than 5 million hybrid cars
globally so far, the newspaper said.
Toyota's hybrid cars such as the Crown are 20-30
percent more fuel-efficient than non-hybrid models, the Nikkei said.
Improving mileage has become a key issue for
automakers as the United States
and other countries tighten environmental rules, the newspaper said.
The company has sold more than 5 million hybrid cars
globally so far, the newspaper said.
Toyota's hybrid cars such as the Crown are 20-30
percent more fuel-efficient than non-hybrid models, the Nikkei said.
Improving mileage has become a key issue for
automakers as the United States
and other countries tighten environmental rules, the newspaper said.
LOGISTICS
Dubai-based Centre Point Logistics (CPL) has signed
an agreement with logistics firm Gefco Middle East to further support Gefco
with the provision of logistics services in Dubai.
The agreement was signed by CPL Chairman, Saleh Saeed Lootah and Stefano Pollotti, country manager, Gefco Middle East.
This will enable Gefco to provide their multi-national customers with world-class services in the Middle East region.
This agreement, as a part of the ‘Open Architecture Model’ will enable Gefco to benefit from utilizing CPL’s Hub in Jebel Ali free zone (Jafza) of Dubai, which is strategically located to serve the needs of growing trade, store, export and transportation of goods by Gefco in the Middle East.
“We are pleased to have Gefco to join our client base, we are more than keen to support their growth going forward,” said Lootah.
“Gefco’s logistics needs will be supported at our logistics hub in Jafza. With this agreement, we have gone one step ahead in the development of our global network to offer our clients the best in class solutions.”
The agreement was signed by CPL Chairman, Saleh Saeed Lootah and Stefano Pollotti, country manager, Gefco Middle East.
This will enable Gefco to provide their multi-national customers with world-class services in the Middle East region.
This agreement, as a part of the ‘Open Architecture Model’ will enable Gefco to benefit from utilizing CPL’s Hub in Jebel Ali free zone (Jafza) of Dubai, which is strategically located to serve the needs of growing trade, store, export and transportation of goods by Gefco in the Middle East.
“We are pleased to have Gefco to join our client base, we are more than keen to support their growth going forward,” said Lootah.
“Gefco’s logistics needs will be supported at our logistics hub in Jafza. With this agreement, we have gone one step ahead in the development of our global network to offer our clients the best in class solutions.”
ODISHA BUSINESS
Odisha government has signed an MoU with NABARD's consultancy services NABCONS for constructing 544
rural godowns to be owned by Primary Agricultural Cooperative Societies (PACS)
and Large Adivasi Multi-purpose Co-operative Societies (LMPCS) in the state.
The MoU was signed yesterday between the Registrar of Cooperative Societies (RCS), Odisha State Agriculture Marketing Board (OSAMB) and NABARD Consultancy Services Private Limited (NABCONS), an official release said today.
The rural godowns will be owned by 544 PACS and LMPCS working under the cooperation department, it said.
The proposed godowns will be utilised to store paddy purchased from farmers at PACS and LMPCS level. Rs 83 crore has been earmarked in the state's 2013-14 budget for construction of these godowns, the release said, adding Rural Infrastructure Development Fund (RIDF) will also provide additional financial assistance.
Registrar of Cooperative Societies will identify sites for construction of 544 godowns and RCS will make available land with approach roads and hand them over to the executing agency, it said.
Odisha State Agriculture Marketing Board (OSAMB) has been identified as the executing agency and it will bear the operational responsibility and execute the project.
NABCONS will provide project management consultancy services and will ensure architectural planning and designing of godowns and on-site monitoring of the works. Project management consultancy fees will be seven per cent of the actual project cost.
Work for 544 godowns would be taken up in four phases and the first phase will comprise of 124 godowns, state's Minister for Cooperation Bikram Arukh said.
Sources said NABCONS have already prepared 124 DPRs for construction of these godowns which have been approved by the state government.
The second, third and fourth phases will be taken up subsequently, the minister said, adding that all phases will be taken up for implementation within 24 months.
Construction of these 544 rural godowns will be finished by 2014-15 and the entire expenditure will be about Rs 168 crore. These will create a total capacity of storing above 3.36 lakh tonnes of paddy which would prove to be of immense benefit for farmers.
The MoU was signed yesterday between the Registrar of Cooperative Societies (RCS), Odisha State Agriculture Marketing Board (OSAMB) and NABARD Consultancy Services Private Limited (NABCONS), an official release said today.
The rural godowns will be owned by 544 PACS and LMPCS working under the cooperation department, it said.
The proposed godowns will be utilised to store paddy purchased from farmers at PACS and LMPCS level. Rs 83 crore has been earmarked in the state's 2013-14 budget for construction of these godowns, the release said, adding Rural Infrastructure Development Fund (RIDF) will also provide additional financial assistance.
Registrar of Cooperative Societies will identify sites for construction of 544 godowns and RCS will make available land with approach roads and hand them over to the executing agency, it said.
Odisha State Agriculture Marketing Board (OSAMB) has been identified as the executing agency and it will bear the operational responsibility and execute the project.
NABCONS will provide project management consultancy services and will ensure architectural planning and designing of godowns and on-site monitoring of the works. Project management consultancy fees will be seven per cent of the actual project cost.
Work for 544 godowns would be taken up in four phases and the first phase will comprise of 124 godowns, state's Minister for Cooperation Bikram Arukh said.
Sources said NABCONS have already prepared 124 DPRs for construction of these godowns which have been approved by the state government.
The second, third and fourth phases will be taken up subsequently, the minister said, adding that all phases will be taken up for implementation within 24 months.
Construction of these 544 rural godowns will be finished by 2014-15 and the entire expenditure will be about Rs 168 crore. These will create a total capacity of storing above 3.36 lakh tonnes of paddy which would prove to be of immense benefit for farmers.
MARKETING
SOFTWARE
HOUSE
Microsoft will pump almost double the amount of money on marketing for Windows
8.1 and its Surface 2 tablets as it did on the launch of Windows 8 and the
first Surface devices in a bid to help push sales, online reports have
suggested.
According to information leaked to Winsupersite.com, Microsoft spent
$241m (£150m) on retail Windows efforts last year, but since that didn't make
Windows 8 and Surface devices fly off the shelves last year, Microsoft has
upped the ante and is expected to spend about $405m (£253m) this year.
The higher marketing budget is going towards
Microsoft's FY14 Holiday Campaign, in which the Redmond firm seeks to
reinvent how people perceive Windows over the holiday period, with big spending
to get people to buy Windows tablets in retail stores.
"Worldwide, Windows share of retail devices
continues to decline," an internal campaign document admits, saying that
consumer adoption of Windows 8 was slower than expected.
Microsoft reportedly aims to sell 16 million Windows
tablets this holiday season, and believes this will be realised through these
changes in marketing to convince consumers to buy them. Good luck with that,
Microsoft.
Winsupersite reports that only 20 percent of PCs
will be available with Windows 8.1 over Christmas, but Microsoft has looked to
overcome this by providing retailers like Best Buy and Dixons with USB-based
Windows 8.1 Upgrade Kits to update systems. That might not be the best way to
go about it. Could it be that Microsoft will disappoint the market again with Windows 8.1
like it did with Windows 8? We can't imagine that pumping more money into
marketing will solve all of Microsoft's
Windows 8 woes.
Brandtone, an international company that provides
the means for leading brands in fast-growing markets to conduct mobile
marketing campaigns that increase sales, profile engaged consumers and build
trusted brands has recently launched its operations in India. Mandeep Singh has
been appointed as Managing Director, Brandtone India.
The India entry follows the recent deal between
Brandtone and global giant Unilever to drive the mobile presence of the FMCG
giant in emerging markets. As part of this association, Brandtone will help
Unilever brands in India to use the power of mobile and big data to build
long-term one-to-one relationships with consumers.
On the company’s decision to use mobile as a means
for reaching out to the end consumer in emerging markets, Keith Weed, Unilever
Chief Marketing Officer, said, “Over half our turnover comes from emerging
markets. Mobile provides a direct means of engagement with almost every
consumer in those countries, and it is therefore absolutely critical for our
brands’ growth. People are willing to share information about themselves in
order to get more relevant advertising and offers. So the opportunity is there
– if we do it correctly. We need to approach people with respect – maintaining
trust and ensuring two-way dialogue. The work we do with Brandtone enables us
to do exactly that. By building relationships with our consumers and adding
something of value to them we can increase both purchase and brand loyalty.”
Brandtone will utilise the huge potential available
for mobile marketing campaigns in a country where mobile penetration is very
high. It will be led by Mandeep Singh who has over two decades of experience
providing strategic direction, operation leadership and process deployment to
some of the most globally renowned FMCG and FMCD brands including Amul, Dhara,
Kodak, Western Union, Bayer, Reed Exhibitions India and d.light Energy.
SUPPLY CHAIN
Flextronics announced that it will provide an
end-to-end supply chain solution for HP's Printing and Personal Systems (PPS)
business in Brazil.
Under the agreement, Flextronics will assist HP in
optimizing their supply chain by providing one facility to support the
manufacturing, recycling and non-ODM design services for HP's computing and
printing operations.
"We are honored that HP has chosen to partner
with Flextronics on its PPS business in Brazil," said Mike Dennison,
president of High Velocity Solutions at Flextronics. "Expanding the
services we provide HP in Brazil to include an end-to-end ecosystem is a great
example of the strong supply chain solutions we can provide our valued
customers," he added.
"Optimizing the number of suppliers and
processes in our supply chain creates value for customers, shareholders and
HP," said Tony Prophet, senior VP, PPS Operations for HP.
"Flextronics will provide a low touch, high speed supply chain in Brazil
to drive efficiencies and cost savings which are core elements of our
continuing supply chain transformation."
Flextronics has an extensive network of design,
manufacturing and logistics facilities in the world's major electronics markets,
including Brazil, that provide supply chain solutions to its valued Original
Equipment Manufacturer (OEM) customers.
__________________________________________________________
Source of
Information for this issue: Google alert accessed on 4th and 8th Nov 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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