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ASIAN
BUSINESS
Online
real estate giant REA Group has acquired a large stake in a South East Asian
property business for $106.3 million.
The
owner of realestate.com.au has bought a 17.22 per cent shareholding in
ASX-listed iProperty Group, an online advertising portal to real estate agents
and property developers in Malaysia, Hong Kong, Macau, Indonesia and Singapore.
REA
Group says it will hold discussions about being represented on iProperty
Group's board.
The
31,000,000 plus shares were acquired from SeLoger.com SA, the operator of
France's largest property classifieds portal, and were valued at $3.40 per share.
REA
Group interim chief executive Peter Tonagh says the company is investing in
markets where conditions are strong.
"This
acquisition provides us with a strategic stake in one of the fastest growing
real estate markets in the world," he said.
He
said it also complemented its existing business in Hong Kong and China.
REA
Group posts Australian property on China's myfun.com and SouFun.com websites
and squarefoot.hk in Hong Kong.
ASIAN
SCHOOL OF BUSINESS MANAGEMENT
Dr Pradeep Kumar Panigrahi, Hon’ble Minister, Higher
Education, Government of Odisha released on 30th May, 2014 the new
edition of Dr. Biswajeet Pattanayak’s largest referred and cited text book on
Human Resource Management published by the well known publisher Prentice
Hall. The Hon’ble Minister appreciated Prof. Pattanayak’s efforts in
bringing out an exhaustive edition covering emerging areas in human resource
management.
Hon’ble Member of Parliament, Lok Sabha, Bhubaneswar,
Prof. (Dr.) Prassana Kumar Patasani was present on the occasion.
Asian School of Business management
conducted a two day faculty development programme on 18th and 19th
July, 2014 on research methodology using SPSS. Eminent faculties and research
scholars from various universities and institutes had an active participation
in the programme.
Prof. (Dr.) Dasarathi Sahoo of Utkal
University was the chief resource person who delivered an extensive training on
the usage of SPSS in conjunction with ASBM faculty members, Prof. B. B. Das,
Prof. M.N. Samantaray, Prof. M. Dash and Prof. P. Mohapatra. They delivered
with utmost professionalism the importance of the various applications of
Research Methodology in different fields. Prof. (Dr.) Biswajeet Pattanayak,
Director ASBM, Prof. (Dr.) Kalyan Shankar Ray, Dean ASBM and Prof. (Dr.) Phalgu
Niranjana, Associate Dean, ASBM directly supervised the entire programme which
was an immense success.
Coordinators Prof. Susan Das and Prof.
Ratikant Biswal made the programme memorable for all participants with careful
arrangement of programme details crucial to the total realization of efforts.
BANKING
Banks
will not be allowed to trade bonds issued by
other lenders for infrastructure
lending that would be exempted from mandatory reserve requirements under the
guidelines issued last week, said Reserve
Bank of India Deputy
Governor R
Gandhi.
The
central bank last week allowed lenders to issue bonds for infrastructure
lending, but barred the banks from holding each other's bonds. "Restriction
on cross holding does apply to trading also," Gandhi told Reuters.
Gandhi
said the central bank would prefer that these bonds for infrastructure lending
attract investors from outside the banking sector.
"The
idea is funds to come from outside the banking system," he said.
Dealers
had been confused about whether the cross holding restriction also meant that
the banks were not allowed to trade in these bonds, given that lenders are
crucial market makers in this segment.
BUSINESS
The
broadcasting regulator has recommended a new licensing regime for
direct-to-home TV
service providers under which the tenure of permits will be doubled to 20
years, renewable for 10 years at a time, and the licence fee on adjusted gross
revenue will be reduced to 8% from 10%. The norms will benefit DTH operators,
including TataSky, Dish
TV and Sun Direct. Trai, the broadcasting and telecom regulator, on
Wednesday further suggested that the adjusted gross revenue should be
calculated excluding service tax,
entertainment tax and sales tax or value-added tax paid to the government from
the gross revenue. All existing DTH providers should be allowed to migrate to
the new licensing regime at any point of time during their current licence
tenure.
The
regulator said six private DTH operators are providing pay TV services to more
than 37 million subscribers. Trai has also made
recommendations on cross-holdings and control of the broadcasting and distribution
sectors, which suggests that vertically integrated broadcasters, or entities
that run TV
channels as well as distribution platforms such as cable and DTH, must be
subjected to a set of additional rules, and that they should be allowed to
control only one distribution platform operator (DPO), including cable and DTH
firms.
FINANCE
In the biggest fund raising ever by an Indian e-commerce
site, Flipkart has reportedly raised $1 billion (approximately Rs 6000 crore),
effectively having raised a total of $1.7 billion with the company being valued
at over $5 billion.
The
Economic Times in an exclusive report today said the e-commerce
site has raised half the amount from existing investors like Tiger Global, DST
and Accel Partners and the rest will come from other investors. Potential
investors include Singapore's sovereign wealth fund GIC and US-based investment
firm T Rowe Price.
The
report said the company is reportedly set to make the announcement about its
fund raising in the next couple of weeks.
In an interview to The Hindu BusinessLine, co-founder and CEO of
Flipkart Sachin Bansal made it clear that the company wasn't even looking at
profitability at present and is looking to widen its reach across the country.
"...Profitability
is definitely not in our top three metrics. Our top three metrics are
customers, reach and overall retail space," Bansal told the newspaper.
Bansal
said that in terms of competition the Indian markets was not comparable to
China or US and believes that the company will grow with the market.
INDIA
BUSINESS
Indian
industry representatives today called on the UK to examine its visa system to make people to people
movement easier for greater economic cooperation between the two countries.
"It is time to review our (India-UK) economic engagement and chart a course for the future. None of this will be possible without promoting people to people exchange," Confederation of Indian Industry (CII) president Ajay Sriram, mission leader of this year's annual CEOs delegation to Britain, said at CII's annual conference at the St James' Taj Hotel in London today.
Sriram, chairman and senior managing director of DCM Sriram Limited added, "The UK has effected changes in policy which curb the movement of technical personnel between India and the UK. There is a need to examine ways to enhance the easier transfer of students and technical experts and address these issues on a priority to increase business engagement.
"We in CII strongly believe that the potential of business growth between the two countries is large. India is seeing a new wave, a new push, a new direction and let's jointly work to capitalise on that and get benefit for both countries going forward."
His views were echoed by delegation member Dhruv M Sawhney, chairman and managing director of Triveni Engineering & Industries Limited which has significant waste-to-energy operations in the UK.
"It is time to review our (India-UK) economic engagement and chart a course for the future. None of this will be possible without promoting people to people exchange," Confederation of Indian Industry (CII) president Ajay Sriram, mission leader of this year's annual CEOs delegation to Britain, said at CII's annual conference at the St James' Taj Hotel in London today.
Sriram, chairman and senior managing director of DCM Sriram Limited added, "The UK has effected changes in policy which curb the movement of technical personnel between India and the UK. There is a need to examine ways to enhance the easier transfer of students and technical experts and address these issues on a priority to increase business engagement.
"We in CII strongly believe that the potential of business growth between the two countries is large. India is seeing a new wave, a new push, a new direction and let's jointly work to capitalise on that and get benefit for both countries going forward."
His views were echoed by delegation member Dhruv M Sawhney, chairman and managing director of Triveni Engineering & Industries Limited which has significant waste-to-energy operations in the UK.
INSURANCE
Renewing
car insurance policy is one big task which everyone faces annually. Various
insurance companies give pesky calls and we all have to haggle with them in
order to get the best deal for our cars.
Soon we may get a solution for this problem, according to an English daily, the Insurance Regulatory and Development Authority (IRDA) is considering a proposal to allow insurers to offer policies with a one-time, five-year cover and is expected to issue fresh guidelines on such long-term products.
These policies could also be cheaper as compared with the earlier policies. IRDA also aims to use this long-term policy cover to promote insurance, especially in rural areas.
Meanwhile, domestic passenger car sales increased 14.76 percent to 1,60,232 units in June as compared to 1,39,624 units in the year-ago month.
Motorcycle sales last month climbed 9.63 percent to 8, 76,196 units from 7,99,254 units a year earlier, according to data.
Soon we may get a solution for this problem, according to an English daily, the Insurance Regulatory and Development Authority (IRDA) is considering a proposal to allow insurers to offer policies with a one-time, five-year cover and is expected to issue fresh guidelines on such long-term products.
These policies could also be cheaper as compared with the earlier policies. IRDA also aims to use this long-term policy cover to promote insurance, especially in rural areas.
Meanwhile, domestic passenger car sales increased 14.76 percent to 1,60,232 units in June as compared to 1,39,624 units in the year-ago month.
Motorcycle sales last month climbed 9.63 percent to 8, 76,196 units from 7,99,254 units a year earlier, according to data.
RETAIL
Toonz Retail
India, a one stop shop for kids aged up to 12, is targetting to set up 200 stores in the
country in the next five years, of which at least 10 would be in Kerala,
especially in smaller towns.
The
company's major presence is in South India with about 35
stores out of 50 spread in Kerala, Karnataka, Andhra Pradesh and Tamil Nadu,
according to Managing Director and CEO Sharad Venkta. It also has stores in
Delhi, Maharashtra, Uttar Pradesh, Punjab and Haryana. "While we are
expanding our reach to other parts of the country we continue to focus on south
India and I am of the view that more than 50 per cent business and expansion
will be driven by south India," Venkta told PTI.
Investment
in every store ranges from Rs 20 lakh to Rs 40 lakh depending on the store size
and market, he said.
Asked
if they had plans to start stores abroad, Venkta said the company was presently
focussing on consolidating its presence in India.
"There
are some talks for International business however that largely in line of
supplying our brands
"Womom' and 'SuperYoung'
to our business partners. These talks are in very initial stage and nothing has
been crystallised as yet," he said.
____________________________________________________________________
Source of Information for this issue : Google alert accessed on Google alert on July 28th and 29th, 2014
We welcome your suggestions in improving this information updating service.
Knowledge Is Power. Be Informed, Be Knowledgeable, Be Powerful.
Best wishes
Compilation
Sabita Sahu
Junior Librarian
Concept, Layout and Editing
Syamaghana Mohanty
Chief Librarian
Information and Documentation Divison, 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
Sabita Sahu :Junior Librarian Knowledge and Information Services Unit, Chanakya Central Library, Asian School of Business Management, Bhubaneswar. library@asbm.ac.in ; www.asbm.ac.in
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