ASBM Business
Updates is a Weekly Selective Compilation of Business News from Various
Sources. To find details follow the links.
ASIAN SCHOOL OF
BUSINESS MANAGEMENT
A warm farewell celebration has been extended to the
outgoing batch of ASBM PGDM 2014 – 16 Batch in a glittering function known as
‘Smruti-O-Anubhuti’ held at ASBM Premises on 16th March 2015. Prof.
(Dr.) Biswajeet Pattanayak, Director, ASBM while conveying his message to the
jubilant students said that they must infuse themselves with the positive
vibrations and extend their acumen in the corporate world. It is through the
cultivation of corporate culture and humanitarian behavior success can be
achieved. He gave thrust on strong network of Alma Matter and they will remain
associated with the institute as its proud alumni. He also urged students to
spread the goodwill message ASBM to whosoever they come across and always
extend their generous effort the grow the institutions wherever they have
studied.
Ms. V Harika a student of the outgoing batch who got offer at Axis Bank, is of view that "I had a memorable experience of 5 years at ASBM including BBA and PGDM where I had been taught how to become successful in life. It is one of the best platform to improve one's career in studies." In a similar tune Ms. Sarbojaya Ray, who got offer in Deloitte is of view that "ASBM is the platform that helped me to be a person I am today". Ms. Smruti Sudha Barik, got an offer in Pantaloons said that "ASBM - a beautiful chapter of my life". Mr. Shivaram Mohapatra who got offer in HIL Limited (C. K. Birla Group) said that "ASBM has given me a nice exposure to showcase my talent. It has a nice environment which helps everyone to give their best."
Ms. V Harika a student of the outgoing batch who got offer at Axis Bank, is of view that "I had a memorable experience of 5 years at ASBM including BBA and PGDM where I had been taught how to become successful in life. It is one of the best platform to improve one's career in studies." In a similar tune Ms. Sarbojaya Ray, who got offer in Deloitte is of view that "ASBM is the platform that helped me to be a person I am today". Ms. Smruti Sudha Barik, got an offer in Pantaloons said that "ASBM - a beautiful chapter of my life". Mr. Shivaram Mohapatra who got offer in HIL Limited (C. K. Birla Group) said that "ASBM has given me a nice exposure to showcase my talent. It has a nice environment which helps everyone to give their best."
BUSINESS
Egypt has proposed to create a local tea brand with India which would step up the sourcing of Indian tea for
the Egyptian market and boost the bilateral trade.
A 14-member delegation led the Deputy Chairman of Tea Board of India Amiya Kumar Das explored avenues to increase the bilateral trade between India and Egypt on tea segment here.
During their visit from March 20 to 23, the delegation met Egyptian Minister of Supplies and Domestic Trade and discussed various options to enhance the trade between the two countries, according to a statement issued by the Indian embassy here.
Minister Khaled Hanafy suggested the delegation have a Joint Venture with Egyptian entities to create a local brand which would have a market access not only to Egyptian consumers but also to the region, it said.
Both sides agreed to set up a core group to further study this proposal. He also agreed to step up the sourcing of Indian tea for the Egyptian market, the statement said.
Egypt has traditionally been one of India's most important trading partners in the African continent.
India is the seventh largest trading partner for Egypt, with tenth largest source for import and second largest destination for exports.
The governments and the business communities in India and Egypt are working closely to promote the dynamism in bilateral economic relations.
A 14-member delegation led the Deputy Chairman of Tea Board of India Amiya Kumar Das explored avenues to increase the bilateral trade between India and Egypt on tea segment here.
During their visit from March 20 to 23, the delegation met Egyptian Minister of Supplies and Domestic Trade and discussed various options to enhance the trade between the two countries, according to a statement issued by the Indian embassy here.
Minister Khaled Hanafy suggested the delegation have a Joint Venture with Egyptian entities to create a local brand which would have a market access not only to Egyptian consumers but also to the region, it said.
Both sides agreed to set up a core group to further study this proposal. He also agreed to step up the sourcing of Indian tea for the Egyptian market, the statement said.
Egypt has traditionally been one of India's most important trading partners in the African continent.
India is the seventh largest trading partner for Egypt, with tenth largest source for import and second largest destination for exports.
The governments and the business communities in India and Egypt are working closely to promote the dynamism in bilateral economic relations.
FINANCE
Agartala
on Wednesday became India's third Internet gateway after Prime Minister
Narendra Modi and Bangladeshi Premier Sheikh Hasina inaugurated an Internet
connectivity project between the two South Asian neighbours.
"Leasing
of international bandwidth for Internet at Akhaura to Agartala will allow
people of Tripura to avail more reliable net connectivity," external
affairs ministry spokesman Vikas Swarup tweeted.
After
Chennai and Mumbai, Agartala is now India's third Internet gateway.
The
leasing of the Internet bandwidth from Akhaura in Bangladesh to Agartala, apart
from helping the people of Tripura to avail more reliable Internet connectivity,
will also improve Internet speed in the entire northeastern region.
India's
BSNL has leased 10 GB bandwidth of Bangladesh Submarine Cable Company Limited
from its Cox's Bazar Internet port.
This
will also enable Bangladesh telecom operators to effectively monetise their
already existing infrastructure.
Currently Tripura is connected solely through the Siliguri corridor.
Modi
and Hasina on Wednesday also inaugurated a power transmission project between
the two countries.
"Connecting
hearts. 100 MW power connectivity between Bangladesh & Palatana (in
Tripura) yet another link between the two countries," Swarup said in
another tweet.
India
is already supplying 500 MW of power across the Behrampur-Behramara
transmission link on the border between West Bengal and Bangladesh.
INDIA BUSINESS
YV Reddy,
the former governor of Reserve Bank of India (RBI), once lamented that global
financial conglomerates are "larger and, perhaps, more powerful than some
of the central banks."
Today,
that may not necessarily be the case and the possibility of these banks
becoming a dominant force in the Indian banking space seems to have faded.
Global banks have surely gotten big in India — over the last 15 years, the
total advances of foreign banks in India have doubled every five years from Rs
75,318 crore in March 2005 to Rs 1.63 lakh crore in 2010 and to Rs 3.27 lakh
crore in March 2015. But that's just half the story. The real story is the slow
but sure slide of foreign banks' market share. From 6.55% in 2005, foreign
banks' share of advances dropped to 4.65% in 2010 and to 4.41% in 2015. In
January, the UK-based Barclays shut
down its equity capital
market and broking business in India, continuing a trend of full or part
exit of foreign banks since 2009.
In
the last five years, Deutsche Bank
has sold its credit card business, Barclays has shut its retail banking
business; Swiss lender UBS has given up its banking licence and so did US-based
multinationals Morgan Stanley and Goldman Sachs; Bank of America-Merrill Lynch
sold its wealth management business to Julius Baer and Dutch banking group ING
sold its Indian operations to homegrown Kotak Mahindra Bank.
The
exodus continued in 2015 with British bank RBS, which in 2013 shut 23 of its 31
branches in India, saying it will no longer continue in the country. Late last
year, Standard Chartered reduced by a quarter its staff in corporate and
investment banking. HSBC, too, said it will shut down its private banking
business.
RETAIL
iPhone SE,
the US technology major Apple’s latest bet to grab a bigger share of the
booming Indian smartphone market, will start selling in the country from April
8 for Rs 39,000, a price higher than that of existing models.
Beetel
Teletech and Redington have said they will begin the distribution of iPhone SE,
Apple’s lowest priced smartphone, from April 8.
Apple Inc
had yesterday unveiled a new, smaller iPhone SE at a relatively low price tag
of $399 as it looks to boost sales in high-growth markets like China and India.
The phone
has a four-inch screen, comes in four stainless steel finishes and incorporates
a faster A9 processor. It sports a fingerprint scanner, 12-megapixel iSight
camera, featuring Live photos and faster wireless as well as Apple Pay, and at
$399 it costs nearly 40% less than the iPhone 6S’s $649 opening price.
However,
the starting price at Rs 39,000 in India is higher than some existing models,
which are available on the country’s online marketplaces, like iPhone 5s at Rs
25,000 and iPhone 6 at around Rs 32,000.
___________________________________________________________
Source of
Information for this issue: Google alert accessed on Mar 28, 2016
We welcome your suggestions in improving this information updating service.
Knowledge Is Power. Be Informed, Be Knowledgeable, Be Powerful.
Best wishes
Compilation
Sabita Sahu
Sabita Sahu
Asst Librarian
Information and
Documentation Division, Chanakya Central Library
Asian School of
Business Management
Shiksha Vihar Bhola,
Barang Khurda Road,
Chandaka
Bhubaneswar-754012
Tel:0674-2374832, 2374833
E-mail:library@asbm.ac.in, 
Sabita Sahu, Asst 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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