ASBM Business Updates is a Weekly Selective Compilation of Business News from Various Sources. To find details follow the links.
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
ASIAN
BUSINESS
Toyota Motor and Suzuki
Motor announced on Monday that they have signed a memorandum on
a business partnership. The two automakers will start "concrete
examinations" toward cooperation in technology development as well as
mutual supply of products and components. The deal will increase the
number of vehicles that Toyota and its allies make each year to at least 18
million.
The companies will also work out the specifics of the
cooperation later and might also consider deepening their group ties through
cross-shareholding agreements and other capital links, which Suzuki Vice
Chairman Yasuhito Harayama said both sides will "slowly consider,"
without giving a specific timeline. He was speaking on Monday at Suzuki's
earnings briefing.
"Today marks the start of the partnership between the two
companies," Harayama told reporters. "The partnership does not mean
Toyota will rescue Suzuki one-sidedly, but will aim to bring a win-win
partnership for both sides."
INDIA
BUSINESS
Recognising India’s status as a major defence partner, the US has made changes in its export control laws that would benefit India by easing transfer of technologies and arms to it.
The new rule "creates a presumption of approval" for Indian companies seeking to import commerce department-controlled military items, except for goods related to weapons of mass destruction.
This means that only under the rarest circumstances will India be denied licences, a source familiar with the changes said.
"I am pleased to see India's status as a major defence partner — a designation that we have strongly supported — translated into regulatory reform," said Mukesh Aghi, president of US-India Business Council (USIBC)..
The new rule also changes the law so that companies will not need a licence after becoming a validated end-user (VEU).
Over 810 licences representing some $5 billion in trade in the last half decade have been granted for goods covered under this new rule. Most of these licences focus on aerospace systems and ground vehicles. Additionally, under the new regulation, Indian companies will not be required by US law to seek approval for re-export of platforms that contain less than 25 per cent US content.
LOGISTICS
D. Devaraj Urs
Truck Terminal Ltd., a State government undertaking, is keen on building a
logistics park for Mangaluru, said Managing Director C. Mallikarjun.
The company, he
said, is moving from building truck terminals to building logistics parks to
offer comprehensive solutions.
Addressing
members of Kanara Chamber of Commerce and Industry here recently, Mr.
Mallikarjun said that a logistics park is not just a truck terminal, but
facilitates a host of activities related to the transport industry.
Besides
providing parking facilities to goods vehicles, the park will have other
facilities, including warehousing, packaging, value addition and many more.
Mr. Mallikarjun,
Joint Commissioner of Transport, said that he wanted to improve transport
facilities in Mangaluru when he was the Regional Transport Officer here in
2011-13. However, he had very limited powers. Now being in-charge of the
company, he can do something for the city which has huge potential for growth,
the officer said.
RETAIL
Brands have started expanding in Bihar, Orissa, Assam and Jharkhand over the past two years.
Retail space expansion in eastern India is no more restricted to Kolkata and brands have started expanding in regions like Bihar, Orissa, Assam, and Jharkhand over the past two years. According to the CBRE, the retail space supply in the eastern region has increased to 5.5 million sq ft from 3 million sq ft in 2014.
“Multiple brands, mostly driven by fashion anchor stores have been looking at the eastern region to start and expand business in this part of the country. While premium brands took up space in Kolkata, the other cities got a reasonable amount of new retail ventures,“ said Vivek Kaul, head, retail services India, CBRE South Asia.
According to Kaul, after the recession of 2008, for three years, no new retail suppliers entered the eastern market. This was primarily because developers have been apprehensive about the future of their existing retai pro jects. The situation resulted in a surplus demand. In the recent past, the eastern region has seen an uptick in fresh retail stock, targeted to capitalize on this excess demand.
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Source of Information for this issue: Google alert accessed on Feb 13, 2017
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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,
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