ASBM Business Updates Vol. 5(15) 12 Dec 2016, Monday from Chanakya Central Library, Asian School of Business Management , Bhubaneswar.

ASIAN BUSINESS

Lego opens first Asian factory in China

The first Asian plant of the Lego Group, located in Jiaxing city of East China's Zhejiang province, has started operations.

The factory, covering over 160,000 square meters, officially opened last Friday after a year of trial operations. It has some 1,200 employees and will mainly serve the Asian market.

Richard Wong, general manager of Lego Asia manufacturing, said that in the past, Chinese children could not get new Lego products for several months after their release due to long-distance shipping.

The Jiaxing plant will produce new products simultaneously with other plants worldwide and will adjust production in accordance with demand, said Wong.

Lego plans to open chain stores in 40 Chinese cities in the next four years, aiming to expand the market from first-tier to second- and third-tier cities by 2020 through a combination of online and offline sales, according to the company.

Lego entered the Chinese market in 1993 and the company has seen robust growth in the country. Its 2015 sales revenue in China registered annual growth of over 30 percent.

ASIAN SCHOOL OF BUSINESS MANAGEMENT

ASBM Alumni Meet Confluence 2016

To take a walk down the corridors of nostalgia, an Alumni Meet of ASBM, CONFLUENCE 2016, was inaugurated by the Director of ASBM, Prof. (Dr.) Biswajeet Pattanayak on 3rd December, 2016. The meet started traditionally with lighting the lamp of wisdom by the Director of ASBM, Prof. Biswajeet Pattanayak. He was joined by the first group of faculty members who had joined in 2006, and the students of the first barch 2006-08. The occasion was graced by Alumni in large number ranging across various batches from various parts of the country. Speaking on the occasion, the director underlined and praised the achievements and Alumni of ASBM in all spheres of life within a short span of 10 years. He gave a vivid description about the evolution of the Institute. He felt that it was a matter of great pride for ASBM that its Alumni are holding positions of high responsibility. He praised their contribution towards the growth of their Alma Mater and emphasized the need for further strengthening the linkage between the Alumni and ASBM and current students.

BANKING

Digital banking may eat into ATM business

With the government nudging people towards digital banking modes -- payments through mobile phones, Point of Sale (PoS) machines and others -- ATM players may find their business in a flux in the coming years. 

ATMs are cash-vending machines and operators are paid on a per transaction basis. 

While some industry insiders see a plateauing of demand for ATMs because of the various other payment modes that will come into play in the near future, others are sanguine about the continued demand for the cash-dispensing machines. 

According to V. Balasubramanian, President, Financial Software and Systems (FSS), the demand for ATMs is unlikely to be affected in the next couple of years, but "it is not possible to make a growth estimate after two years given the changed situation". 

On the other hand, K. Srinivas, Managing Director and CEO of BTI Payments Pvt Ltd, said ATM numbers in India would grow for the next 15-20 years. 

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Source of  Information for this issue: Google alert accessed on Dec 5, 2016

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Best wishes
Compilation

 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
www.asbm.ac.in
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