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ASIAN SCHOOL OF BUSINESS
MANAGEMENT
Shri V. Viswanathan, CGM (Retail
Banking), State Bank of Hyderabad addressed the students of Asian School of Business
Management under Road to Excellence Lecture Series in the institute’s campus.
He dealt at length on the present economic scenario of the country and what the
future holds for India. He also highlighted the progress of the ‘Jan Dhan
Yojna’ a scheme for comprehensive financial inclusion launched by the Prime
Minister of India, Shri Narendra Modi that has shown a promising
momentum. He advised the students to peruse personal excellence by having both
short term and long term individual goals."Only being good is not enough;
you have to be strong with your goodness", he added.
In this programme conducted by the
students, the guest speaker was introduced by Ms. Swarnalata Behera and vote of
thanks was given by Ms. Khusbu Agarwal At the end Shri Viswanathan was
felicitated by the Dean of the institute Prof. Kalyan Shankar Ray in the
presence of students and faculty members.
BANKING
In India's biggest banking merger, Kotak Mahindra Bank on Thursday announced the acquisition
of mid-sized private sector ING Vysya Bank in an all-share deal worth Rs 15,000
crore.
The merger will catapult the nation's fourth largest private bank to nearly Rs 2 lakh crore balancesheet size ahead of the entry of new players next year.
In the all-share deal, 725 equity shares of Rs 5 each (face value) of Kotak Mahindra will be issued for every 1,000 shares of Rs 10 each held in ING Vysya Bank. Post merger, Dutch lender ING Group NV which currently holds 42.73 per cent stake in ING Vysya Bank, will become the second largest shareholder in Kotak Mahindra Bank at 6.5 per cent.
Holding of Uday Kotak in the merged entity will also be diluted to 34 per cent from 39.71 per cent. The deal will help him to comply with RBI directive of bringing his stake down to 30 per cent by end of 2016.
The combined banking entity will have a network of 1,214 branches across the country.
The merger will catapult the nation's fourth largest private bank to nearly Rs 2 lakh crore balancesheet size ahead of the entry of new players next year.
In the all-share deal, 725 equity shares of Rs 5 each (face value) of Kotak Mahindra will be issued for every 1,000 shares of Rs 10 each held in ING Vysya Bank. Post merger, Dutch lender ING Group NV which currently holds 42.73 per cent stake in ING Vysya Bank, will become the second largest shareholder in Kotak Mahindra Bank at 6.5 per cent.
Holding of Uday Kotak in the merged entity will also be diluted to 34 per cent from 39.71 per cent. The deal will help him to comply with RBI directive of bringing his stake down to 30 per cent by end of 2016.
The combined banking entity will have a network of 1,214 branches across the country.
FINANCE
Reflecting the appetite for quality IT space in the
city, Indiabulls
has acquired India Land
Tech Park in Ambattur for Rs 600 crore. The park will be renamed as One
Indiabulls Park.
The 2.4 million sq ft IT park with a leasable area of 2 million sq ft and 10 acres of land has gone at a conservative Rs 3,000 per sq ft. Taking into account the present construction cost of IT parks in the city, the buyer has got the land virtually free, said a realty consultant.
Gagan Banga-promoted Indiabulls Securities' subsidiary, Indiabulls Distribution Services Limited has purchased the IT park, the company informed stock exchanges.
India Land in Ambattur industrial estate has three 16-storey towers. With steel girders and glass panels lavishly spread in its facade, it is one among the iconic buildings in Chennai. The park was designed by internationally acclaimed Zaha Hadid, UK.
"The buyer has got a good deal while for India Land the exit appears smooth considering they have divested two other real estate assets in Chennai. The transaction is a welcome sign for the market and any re-branding by India Bulls will bring in a fresh perspective," said Rajesh Babu, chief consultant, RECS Group, a consultancy which marketed India Land to several clients including RBS.
The 2.4 million sq ft IT park with a leasable area of 2 million sq ft and 10 acres of land has gone at a conservative Rs 3,000 per sq ft. Taking into account the present construction cost of IT parks in the city, the buyer has got the land virtually free, said a realty consultant.
Gagan Banga-promoted Indiabulls Securities' subsidiary, Indiabulls Distribution Services Limited has purchased the IT park, the company informed stock exchanges.
India Land in Ambattur industrial estate has three 16-storey towers. With steel girders and glass panels lavishly spread in its facade, it is one among the iconic buildings in Chennai. The park was designed by internationally acclaimed Zaha Hadid, UK.
"The buyer has got a good deal while for India Land the exit appears smooth considering they have divested two other real estate assets in Chennai. The transaction is a welcome sign for the market and any re-branding by India Bulls will bring in a fresh perspective," said Rajesh Babu, chief consultant, RECS Group, a consultancy which marketed India Land to several clients including RBS.
INDIA BUSINESS
With new technologies increasingly finding
acceptance from Indian businesses, Zoho, a home-bred cloud-based business
operating system, is set to give competition to Microsoft and Google in the country.
Since its inception in 1996, the company has focussed on the US. But on Wednesday, it launched Zoho.in, where Indian companies can access their suite of applications to run their businesses.
The development comes at a time when several global technology giants have committed to have local data centres to meet regulatory norms, get higher acceptance and penetrate further.
Like some of the large global companies such as Microsoft, IBM, Oracle and Google, Zoho offers email hosting, document management, office suits, product management, and customer relationship management for companies. The company currently has a little over 10 million users globally.
Since its inception in 1996, the company has focussed on the US. But on Wednesday, it launched Zoho.in, where Indian companies can access their suite of applications to run their businesses.
The development comes at a time when several global technology giants have committed to have local data centres to meet regulatory norms, get higher acceptance and penetrate further.
Like some of the large global companies such as Microsoft, IBM, Oracle and Google, Zoho offers email hosting, document management, office suits, product management, and customer relationship management for companies. The company currently has a little over 10 million users globally.
INTERNATIONAL
BUSINESS
The company has already launched the Galaxy Round
and the Galaxy Note Edge, two new devices with unique curvatures. Apparently,
the tech company plans to give more than just phones with curved displays. It
targets to mass produce a smartphone with a display flexible enough to be
folded in half. Lee Chang-hoon, Samsung's
vice president of Samsung
Display, which is the company's business strategic team made the announcement
during the Samsung Investor Forum2014 held in New York. According
to Lee, their company will secure production of 30,000 to 40,000 flexible
displays each month by the end of 2015. He also said that they aim to achieve
great production capacity by 2016, ZDNet reports. Lee also adds that
they plan to provide consumers with product that has flexible display by the
end of the year; however, none has been decided on the finished product. Motivated
by the warm market reception of the Galaxy Note Edge, Samsung is planning to
expand its product-line of flexible-display smartphones. On the other hand,
Samsung Display is currently working on the expansion of its A3 line, which is
the same line that produced the curved display for the Edge.
LOGISTICS
An
expected roll out of Goods
and Service Tax (GST) is pushing privately-held logistics companies to look
for funds from private equity firms, strategic investors and public listing in
order to finance massive expansion in warehouses and fleet. The logistics
sector will see a slew of deals in the next one year as international and
domestic investors scout for targets, while companies look to unlock value. Experts
say larger companies in will look at a public listing while mid-sized companies
will seek strategic or PE funding. Mahindra
Logistics and TVS Logistics
may rope in institutional investors, which have a shorter timeline than PE
firms, are showing interest. "It is true that investor interest has gone
up in the past few months. GST is forcing large
consolidation in the sector," said TVS Logistics Managing Director R
Dinesh.
"We
will start thinking of an IPO in about a year," added Dinesh, who is also
co-chairman of CII's Institute of Logistics Advisory Council. Mahindra
Logistics, backed by Kedaara
Capital, is scaling up through acquisitions before getting listed. TVS has
an annual revenue of Rs 2,500 crore, while Mahindra makes Rs 1,750 in topline.
Both specialise in auto distribution. Snowman Logistics' successful IPO in
August has been a trigger for logistics companies to consider public funds.
Logistics' stocks have skyrocketed in the last three months, taking investors
as well as companies by surprise.
SUPPLY CHAIN
Air
India SATS Airport Services Pvt Ltd (AISATS), a 50:50 joint venture between Air
India Limited and SATS Limited, a gateway services and food solutions provider
in Asia, has introduced an e-freight initiative at its Bengaluru Airfreight
Terminal facility.
With
this launch, AISATS BLR has taken a step towards IATAs e-freight
initiative, building a paper-free air cargo supply chain and replacing it with cheaper, accurate and
reliable electronic messaging, AISATS said in a statement.
To
facilitate this, AISATS has incorporated its Airport Community System (ACS), a
web-based electronic platform that enables seamless electronic data interchange (EDI) between various
stakeholders in the air cargo value chain. With this system in place, AISATS is
well-equipped to do away with the traditional paper-based shipping data consolidation,
and move towards electronic data management.
"With
this online portal, freight forwarders and cargo handling agents will have
complete shipment visibility and be able to send data demanded by multiple
carriers, customs, and airport operators electronically through a single portal
without doing duplicating data entry efforts on separate platforms,"
AISATS said.
_________________________________________________________________
Source of
Information for this issue : Google alert accessed on Google alert on Nov 24th , 2014
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welcome your suggestions in improving this information updating service.
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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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