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
Asian School of Business Management has been selected for the prestigious award of “The New Era Award” for Technology, Innovation & Quality, by Association Other Ways, France. This international award has been created in Europe to reward institutions from all over the world which have distinguished themselves in the field of Quality & Excellence.
The selection has been communicated by Mr. Charbel S. Tabet, President & CEO, Association Other Ways. The Director of ASBM has been invited to receive the award on 23rd June, 2014 in Rome, Italy.
BUSINESS COMMUNICATION
India and 21 other countries today adopted an agreement aimed at ensuring that miscommunication between naval vessels does not develop into conflict in the Pacific Ocean.
Naval chiefs of several countries attended the biennial conference of the Western Pacific Naval Symposium (WPNS) which opened in the eastern Chinese port of Qingdao today.
The Indian Navy was represented at the meet by Rear Admiral S N Ghormade.
The meeting agreed to work to prevent miscommunication between naval vessels that could result in hostilities in the Pacific Ocean which is increasingly becoming a centre of conflict due to escalating disputes between China and its neighbours including Japan and some of the ASEAN nations over disputed islands in the East and South China Seas.
The agreement outlines how naval ships should communicate and manoeuvre when they unexpectedly come into contact in sea lanes surrounding China, Japan and Southeast Asia, official said.
INDIA MANAGEMENT
Nokia's ongoing tax dispute with Indian authorities has put an end to its plans to transfer a local smartphone factory over to Microsoft, as the software maker finalizes its takeover of the Finnish company's devices and services business..
Microsoft's roughly US$7 billion acquisition of Nokia's phone business is set to close on Friday.
The factory in Chennai in south India was among Nokia assets frozen by Indian federal authorities in a dispute over taxes for mobile phone software licenses. Production at the factory was allowed to continue.
A Nokia spokeswoman said Thursday that it was decided that the factory will not be part of the deal for now and the company will instead enter into a services contract with Microsoft.
The plan is an interim measure until the tax matter is resolved, she said. She declined to comment on recent reports that Nokia was planning to sell the factory, dismissing them as speculation.
Microsoft said Monday that its agreement with Nokia had been modified to exclude a factory in South Korea which will continue with Nokia. Twenty-one Nokia employees in China will now join Microsoft to work on mobile phones.
Nokia had offered to deposit into an escrow account an amount larger than the US$340 million tax claim, but the Delhi High Court asked it to hike that figure by another $570 million toward possible future tax liabilities, as a condition to release the factory. The court had earlier released the company's bank accounts in India.
INSURANCE
Reliance Life Insurance Company, a unit of Anil Ambani-ledReliance Capital, Monday launched an online life cover plan called "Reliance Online Term".
"This is one of the most competitive online life insurance plans currently available in the industry, which offers Rs.1 crore of life cover for as low as Rs.15 per day (for a 25 year-old healthy male)," Reliance Life Insurance Company said in a statement here.
The unique proposition of Reliance Online Term is that it offers higher life protection up to the age of 75 years through a transparent and hassle-free online process and provides the convenience of medical check-ups, if any, at the customer's residence.
"Reliance Online Term is a simple life protection product that is based on two strong beliefs: one, adequate insurance cover should be within every Indian's reach and two, people should be able to buy it with ease," said Anup Rau, chief executive officer of Reliance Life Insurance.
LOGISTICS
Pantos Logistics (managing FNS, Inc. in the U.S.), a comprehensive logistics service provider operating more than 180 logistics networks around the world, is currently expanding its international small parcel delivery business in cooperation with Seino Transportation Co., Ltd., the largest ground transportation company in Japan.
Pantos Logistics recently held a signing ceremony for establishing SP EXPRESS Co., Ltd., which will be fully operational in Japan from the end of April. The new company will be responsible for the importation, customs clearance and delivery of small parcels shipped from China to Japan.
Although the two parties will work together on sales and marketing, Pantos Logistics will utilize its competitiveness in China for the collection and warehousing of cargoes, as well as for the customs clearance of cargoes exported from China to Japan, prior to their delivery by truck across Japan by SP EXPRESS.
SP EXPRESS will make use of the networks and infrastructures of the two companies in both Japan and China.
The birth of this cooperative venture will secure a foothold for the new businesses of the two companies, enabling Pantos Logistics to enhance its competitiveness in terms of its business experience in Japan and local delivery costs, while providing Seino Transportation with greater opportunities for its international logistics business.
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Source of information for this issue : Google alert accessed on 28th and 29th Apr, 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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