ASBM Business Updates is a Weekly Selective Compilation of Business News from Various Sources. To find details follow the link.
ASIAN
SCHOOL OF BUSINESS MANAGEMENT
Rajendra Singh after finishing his studies joined Nehru Yuva Kendra in 1982 as a National Service Volunteer at Jaipur. He was Project Officer under the youth education programme of the Ministry of Education, Govt. of India till 1984. That was the year twenty-five years old Singh left his job and committed to rural development.
By this time district Alwar of Rajasthan had been opened to miners and loggers, who decimated its forests and damaged its watershed. Its streams and rivers dried up, then its farms. Overwhelmed by these calamities, villagers abandoned their Johads (traditional water harvesting system). As men shifted to the cities for work, women spirited frail crops from dry grounds and walked several kilometers a day to find water. Thus was Alwar when Rajendra Singh first arrived in 1985. Initially, he worked with nomadic tribes and tried to understand issues in natural resources management in rural areas.
Internationally acclaimed educationist and Founder & Director of ace B-school Asian School of Business Management (ASBM) Professor (Dr.) Biswajeet Pattanayak has been nominated by Hon’ble President of India as the member of the Court, the Highest Body of Governance, of the Guru Ghasidas Vishwavidyalaya, Chhattisgarh, for a term of three years, for his exemplary contribution to management education. This has been issued by a letter from Ministry of Human Resource Development; Department of Higher Education. Popularly known as the Lagaan Professor for introducing the movie first time to the classrooms of IIMs and Board rooms of several leading corporate houses, Prof. (Dr) Pattanayak was recently appointed as the member of the first Court, the Highest Body of Governance, of the Central University of Rajasthan.
BANKING
Nucleus Software launches banking solution FinnAxiaSoftware products and services provider Nucleus Software Exports has launched its transaction banking product suite FinnAxia for the global market.
The company launched the product in the city-state, which is an established Asian banking and financial hub and a launch-pad for the Asia Pacific markets.
"FinnAxia is designed to process 9.2 million transactions worth $1 billion a day or $250 billion worth of transactions a year," Nucleus Software Exports chief executive and MD Vishnu R Dusad said. The product is already installed and working on systems with a number of customers as a multi-country implementations, servicing across the markets, he said, adding that it was developed over the past two years in India based on the future requirements of the global banking and financial sectors.
The company said it would focus on developing FinnAxia further in various languages including Japanese.
"We are extremely bullish about this product. We have demonstrated this product in South Africa and Australia, and received strong support from our customers," he said.
BUSINESS
Tech Mahindra,
on Thursday, said it had signed an agreement BASF to acquire the IT and
consultancy services business of the chemical giant in a bid to strengthen its
presence in Western Europe.
Financial
details of the deal, made through its German subsidiary, were not disclosed. It
is expected to close by June.
The
Mumbai-headquartered firm, in a statement, said Tech Mahindra GmbH, Dusseldorf,
has signed an agreement with BASF Business Services Holding GmbH “to acquire
its business with third party customers. This includes the wholly-owned
subsidiary BASF Business Services Consult GmbH, based in Hamburg.”
BASF Business
Services Holding will, in future, focus on providing information services,
supply chain operations and business process management for BASF Group, it
added.
“Legal closing
of the transaction is expected to happen in the first quarter of 2014-15. All
60 employees of BASF Business Services Consult GmbH will be transitioned to
Tech Mahindra as part of this transaction,” the company said.
Tech Mahindra
already has a presence in Germany across three centres, and employs more than
100 people.
BASF Business
Services Holding GmbH (earlier called BASF IT Services Holding GmbH) is an
indirect wholly-owned group company of BASF SE. Its service portfolio includes
consulting, development and operation of IT systems to the design and optimisation
of business processes.
“It is a
strategic move and a testimony of our commitment to the region. It will bring
us closer to our customers and will help us to deliver holistic solutions. I’m
confident the acquisition will spur rapid growth in this region,” Tech Mahindra
Europe (Enterprise) Head Vikram Nair said.
BUSINESS
MANAGEMENT
BlackBerry Ltd plans to launch a new tool for business and government
customers to manage mobile devices on their networks, part of a drive by the
one-time smartphone pioneer to focus on its profitable enterprise or services
business.
The company said on Tuesday it would launch BlackBerry
Enterprise Service 12, or BES12, to unify its existing platforms and provide
clients with increased flexibility and security.
Following a decline in popularity of its once iconic
devices, BlackBerry is striving to reinvent itself under new Chief
Executive John Chen.
It hopes that focusing on its enterprise business, which has long been a core strength, will
help revive its fortunes, as its new line of BlackBerry 10 devices have failed
to win back market share from iPhone and Android devices.
BlackBerry said BES12, which is to be launched by the
end of 2014, will unify the existing BES10 and BES5 platforms that its clients
currently use to manage mobile devices on their internal corporate and
government networks.
While BES5 manages BlackBerry's older generation of
devices, its BES10 offering allows clients to manage its new generation of
devices powered by its BlackBerry 10 operating system, along with devices that
run on Apple's iOS operating system and Google's market-leading
Android operating system.
"With both BES5 and BES10 we have mobile device
management platforms, but the breadth of functionality we provided on those was
relatively narrow," said John Sims, the head of BlackBerry's enterprise
business in an interview.
FINANCE
Birla Sun Life MF launches new close-end equity fund
Birla Sun Life Mutual Fund has launched a new fund 'Birla Sun Life Focused Equity Fund - series 2', which is a closed ended equity scheme investing in eligible securities as per Rajiv Gandhi Equity Savings Scheme, a company release said.
The new fund offer, which has opened for subscription from February 26 and will close on March 14, 2014.
The scheme, which is a large-cap oriented fund, will invest in the equity securities specified as eligible securities under the RGESS guidelines that include equity shares of companies falling in the list of BSE 100 and CNX 100 and PSUs categorised as Navratna, Maharatna or Miniratna by the central government.
"The improving market environment makes this a good time for retail investors to consider long-term wealth creation through equities. A close-ended equity fund like ours can be well positioned to capture this for investors," chief executive officer of Birla Sun Life MF, A Balasubramanian said.
Birla Sun Life MF has an average assets under management (AUM) of Rs 84,998 crore by the end of December quarter.
Birla Sun Life Mutual Fund has launched a new fund 'Birla Sun Life Focused Equity Fund - series 2', which is a closed ended equity scheme investing in eligible securities as per Rajiv Gandhi Equity Savings Scheme, a company release said.
The new fund offer, which has opened for subscription from February 26 and will close on March 14, 2014.
The scheme, which is a large-cap oriented fund, will invest in the equity securities specified as eligible securities under the RGESS guidelines that include equity shares of companies falling in the list of BSE 100 and CNX 100 and PSUs categorised as Navratna, Maharatna or Miniratna by the central government.
"The improving market environment makes this a good time for retail investors to consider long-term wealth creation through equities. A close-ended equity fund like ours can be well positioned to capture this for investors," chief executive officer of Birla Sun Life MF, A Balasubramanian said.
Birla Sun Life MF has an average assets under management (AUM) of Rs 84,998 crore by the end of December quarter.
RETAIL
Toonz Retail eyes kidswear to grow in smaller towns
Toonz Retail, a four year-old brand, says it will capitalise on the opportunity that exists in the kidswear business and expand the business, using its own brands, in tier-II and III towns. The company, been funded by agrochemical firm Crystal Crop Protection, has introduced two own labels, WowMom and SuperYoung, targeting infants and kids up to 12 years of age.
“We started by licensing characters and merchandise but realised that the margins were wafer-thin. Additionally, the shelf life of characters was short, as children outgrew them fast. We did a strategy realignment and launched our own brand,” Sharad Venkta, Managing Director and CEO, Toonz Retail said.
Toonz Retail has 45 outlets across India . “We are planning 50 stores by March,” he added. The company largely operates through the franchise route, with each outlet requiring an investment of ₹50-70 lakh. It started operations in 2010.
Bharti Retail ropes in Walmart's Craig Wimsatt
Bharti Enterprises, going solo in retail after its high-profile split last year with Walmart Stores Inc., has hired Craig Wimsatt from the US company in what is being interpreted as an effort to make the company more attractive to a potential foreign partner. The move is significant in the wake of talk that Bharti Retail recently showcased itsdistribution centre in Chandigarh to officials from Tesco and Carrefour. In addition to being an equal partner in the cash-and-carry business, Walmart was also providing technical, supply chain expertise and supplying merchandise to Bharti Retail. After the split, Bharti hired Jain. He was joined as CFO by Pankaj Madan, a top executive Walmart suspended as part of its probe in November 2012. Bharti Retail reported total sales of Rs 1,021 crore in 2012 with a net loss of Rs 394 crore. The company is pushing staff to improve margins and make stores profitable, said the two people cited above.
SUPPLY CHAIN
Toonz Retail eyes kidswear to grow in smaller towns
Toonz Retail, a four year-old brand, says it will capitalise on the opportunity that exists in the kidswear business and expand the business, using its own brands, in tier-II and III towns. The company, been funded by agrochemical firm Crystal Crop Protection, has introduced two own labels, WowMom and SuperYoung, targeting infants and kids up to 12 years of age.
“We started by licensing characters and merchandise but realised that the margins were wafer-thin. Additionally, the shelf life of characters was short, as children outgrew them fast. We did a strategy realignment and launched our own brand,” Sharad Venkta, Managing Director and CEO, Toonz Retail said.
Toonz Retail has 45 outlets across India . “We are planning 50 stores by March,” he added. The company largely operates through the franchise route, with each outlet requiring an investment of ₹50-70 lakh. It started operations in 2010.
Bharti Retail ropes in Walmart's Craig Wimsatt
Bharti Enterprises, going solo in retail after its high-profile split last year with Walmart Stores Inc., has hired Craig Wimsatt from the US company in what is being interpreted as an effort to make the company more attractive to a potential foreign partner. The move is significant in the wake of talk that Bharti Retail recently showcased itsdistribution centre in Chandigarh to officials from Tesco and Carrefour. In addition to being an equal partner in the cash-and-carry business, Walmart was also providing technical, supply chain expertise and supplying merchandise to Bharti Retail. After the split, Bharti hired Jain. He was joined as CFO by Pankaj Madan, a top executive Walmart suspended as part of its probe in November 2012. Bharti Retail reported total sales of Rs 1,021 crore in 2012 with a net loss of Rs 394 crore. The company is pushing staff to improve margins and make stores profitable, said the two people cited above.
SUPPLY CHAIN
GAIL (India) is
seeking liquefied natural gas (LNG) from East African producers to diversify
its supply sources, a senior company official said on Wednesday.
"We are
trying to spread our portfolio of LNG supplies geographically and indices wise
(and) we are looking at the East African suppliers, company's marketing
director Prabhat Singh said. He stressed the new supplies were being sought at
prices of around $12 per million British thermal units which would be good for
the Indian market.
"At this
point in time, a price of $12 per mmbtu would be good for India," said
Singh, who told the conference that LNG price was a major issue for the Indian
market.
So far, GAIL has
the best price contract with US-based LNG suppliers, which was at less than $12
per mmbtu on Free on Board basis. The 6 million tonnes per annum(mtpa) supply
from US was expected to commence from 2018.
Currently, GAIL
gets 7.5 mtpa from the West Asian suppliers. It has also firmed two contracts
for 2.5 mtpa supplies by Gazprom for Russian LNG from 2018-19 and 1.5 mtpa
supplies from Australia's Gorgon project, starting 2015.
"We have a
balanced portfolio," said Singh, pointing to the flexibility of supplies
from diversified sources of supplies to manage prices and import costs.
______________________________________________________________
Source of Information for this issue : Google alert accessed on 3rd and 4th Feb 2014
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Compilation
Sabita Sahu
Junior Librarian
Concept, Layout and Editing
Syamaghana Mohanty
Chief Librarian
Information and Documentation Division, Chanakya Central Library
Asian School of Business Management
Shiksha Vihar Bhola,
Barang Khurda Road, Chandaka
Bhubaneswar-754012
www.asbm.ac.in
Tel:0674-2374832, 2374833
E-mail:library@asbm.ac.in, chieflibrarian@asbm.ac.in
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