ASBM Business Updates is a Weekly Selective Compilation of Business News from Various Sources. To find details follow the link.
ASIAN BUSINESS
The three -
Charoen Pokphand Group (CP), Central Group and Thai Beverage (ThaiBev) - among
the country's richest business groups, are said to have expressed interest in
buying Tesco's assets in Asia. Tesco... Tesco is looking for a way to raise
funds following the crisis over its accounting practices that led to a £263
million (13.8 billion baht) profit overstatement at the world’s third biggest.
Tesco's chief executive Dave Lewis recently told the media that the company was
considering several options to pull itself out of the biggest crisis in its
history, including a sale of all assets globally, a sale of its business in
Asia and raising capitals through partnership deals. A foreign banker who asked
to not be named said Tesco appears not to have decided which option it would
take.
ASIAN SCHOOL OF BUSINESS MANAGEMENT
The National Education Day was celebrated in the ASBM
Campus on 11th November 2014 (Tuesday) to mark the birth anniversary
of the first Education Minister of Independent India, Maulana Abul Kalam Azad.
Speaking on the occasion, Prof. Binayak Rath, Former Vice-Chancellor, Utkal
University, said that he has a number of concern about today's prevailing
education system. He emphasized on the 'Issues and Challenges of Education in
the Globalizing World of Knowledge Economy" and the importance of
education in human development. “Primary education in Odisha has to be
augmented and if the youth of the country has to be converted into the wealth
of the nation then they need to be provided with ample employment
opportunities” asserted Prof. Rath.
BANKING
The banking
sector is set to emerge as the most valuable in terms of market capitalization
(m-cap) following a sharp rally in bank stocks.
The combined m-cap of thirteen listed banks stood at Rs 1,163,144 crore, slightly lower than the m-cap of software companies. About 131 information technology (IT) companies have a total m-cap of Rs 1,167,545 crore as of November 3, 2014.
The m-cap of the IT sector was Rs 987,795 crore, while that of the banking sector stood at Rs 769,194 crore at the start of the current calendar year.
The market share of banking sector to the total m-cap of listed companies increased to 12.1% from 11.1% during the year. Meanwhile, the market shares of the software declined to 12.2% from 14.2%.
Banks which are a proxy to the economy have witnessed buying interest from investors after global rating agency Standard & Poor’s (S&P) upgraded India’s credit outlook to ‘stable’ from ‘negative’.
The combined m-cap of thirteen listed banks stood at Rs 1,163,144 crore, slightly lower than the m-cap of software companies. About 131 information technology (IT) companies have a total m-cap of Rs 1,167,545 crore as of November 3, 2014.
The m-cap of the IT sector was Rs 987,795 crore, while that of the banking sector stood at Rs 769,194 crore at the start of the current calendar year.
The market share of banking sector to the total m-cap of listed companies increased to 12.1% from 11.1% during the year. Meanwhile, the market shares of the software declined to 12.2% from 14.2%.
Banks which are a proxy to the economy have witnessed buying interest from investors after global rating agency Standard & Poor’s (S&P) upgraded India’s credit outlook to ‘stable’ from ‘negative’.
BUSINESS
Kazakhstan's
largest airline Air Astana has signed a free flow code-share agreement with
state-run airline and Star Alliance member Air India.
"As a state-run airline and Star Alliance member carrier, Air India feels honoured to enter into this code-share agreement with Air Astana. This agreement has enabled Air India to reach out to the CIS (Commonwealth of Independent States) and eastern European market," said Air India chairman and managing director Rohit Nandan.
A free flow code-share agreement implies pursuing joint marketing policy by two or more air companies. As a result, a customer can purchase a flight ticket from any of the parties to a code-share agreement, while the flight is conducted by only one of the cooperating airlines, the operating carrier. It facilitates routing for customers, as cooperating airlines strive to synchronize their schedules and coordinate luggage handling, which makes transfers between connecting flights less time-consuming.
The cooperating airlines also share the responsibility for luggage misses due to a delay of the first flight and the second airline is unlikely to charge extra fees or deny boarding in cases when the first cooperating airline caused a delay.
"As a state-run airline and Star Alliance member carrier, Air India feels honoured to enter into this code-share agreement with Air Astana. This agreement has enabled Air India to reach out to the CIS (Commonwealth of Independent States) and eastern European market," said Air India chairman and managing director Rohit Nandan.
A free flow code-share agreement implies pursuing joint marketing policy by two or more air companies. As a result, a customer can purchase a flight ticket from any of the parties to a code-share agreement, while the flight is conducted by only one of the cooperating airlines, the operating carrier. It facilitates routing for customers, as cooperating airlines strive to synchronize their schedules and coordinate luggage handling, which makes transfers between connecting flights less time-consuming.
The cooperating airlines also share the responsibility for luggage misses due to a delay of the first flight and the second airline is unlikely to charge extra fees or deny boarding in cases when the first cooperating airline caused a delay.
BUSINESS
COMMUNICATION
Through a recent study, which is a
continuation of earlier research, scientists have demonstrated human
brain-to-brain communication with multiple pairs of people.
Researchers Rajesh Rao and Andrea Stucco at
the University of Washington, who in 2013 demonstrated a system that lets one
brain remotely, send signals to another brain, moving the receiver's hand, have
proved the efficacy of their human brain-to-brain communication system.
Now the experiment has been successfully
replicated with three pairs of students, with each pair, signals were
transmitted from the sender's brain to the receiver's via the Internet, moving
the receiver's hand within a split second of the signal being sent.
FINANCE
After being in
deep freeze for over three months, a global trade
deal is finally in sight with the US and the European Union showing signs
of accepting India's demand for providing flexibility to developing countries
in fixing minimum support price for farm products. In return, India will sign
the stalled international
treaty on easier customs rules once an agreement on the contentious food
security issue is reached at the World
Trade Organization (WTO).
"India, US and EU are close to some understanding and based on this understanding they will work for a final solution at the WTO," said a source, who did not wish to be identified. Senior commerce department officials are engaged in consultations in Geneva. There are indications that the developed countries will agree not to challenge any breach in food subsidy caps till the calculation formula is reworked.
"India, US and EU are close to some understanding and based on this understanding they will work for a final solution at the WTO," said a source, who did not wish to be identified. Senior commerce department officials are engaged in consultations in Geneva. There are indications that the developed countries will agree not to challenge any breach in food subsidy caps till the calculation formula is reworked.
INDIA BUSINESS
Global
e-commerce giant Amazon in a regulatory filing has warned of risks that may
force it to discontinue operations in India.
"(Our)
Indian businesses and operations may be unable to continue to operate if we or
our affiliates are unable to access sufficient funding...," the company
said in a regulatory filing to the US Securities and Exchange Commission (SEC).
The filing was part of Amazon's third quarter results published last week.
The
world's biggest e-commerce player added that there are "substantial
uncertainties" regarding the interpretation of laws and regulations in
India which may impact its business. It further added that though the company's
structures and activities comply with existing laws, they involve "unique
risks".
"Indian
or other laws or regulations or if interpretations of those laws and
regulations were to change, our businesses in those countries could be subject
to fines and other financial penalties, have licenses revoked, or be forced to
shut down entirely," it said.
NDTV
spoke to Amazon India, whose spokesperson acknowledged the risks but said there
were no plans of shutting down operations in India.
___________________________________________________________________
Source of
Information for this issue : Google alert accessed on Google alert on Nov 10th & 11th, 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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