ASBM Business Updates is a Weekly Selective Compilation of Business News from Various Sources. To find details follow the links.
BUSINESS
COMMUNICATION
Tata
Communications on Saturday inked a deal with Alibaba Cloud to enable customers
from India and 150 other countries to connect to the Chinese e-commerce giant’s
‘Express Connect’ platform for a fast, stable and secure network. The Express
Connect will be linked through Tata Communication’s IZO Private Connect
service.
This
collaboration was announced at Alibaba Cloud’s Computing Conference in Shanghai
on Saturday. It is particularly focused towards enterprise customers from over
150 countries, including India, who employ the services of Alibaba Cloud.
Under
the deal, the global enterprises will now have immediate access to a secure connection
between the Virtual Private Clouds (VPC), the Internet and end-users’ own
networks.
Yeming
Wang, deputy general manager of Alibaba Cloud Global said in a statement said
that “we look forward to working closely with Tata Communications in a bid to
provide an exciting proposition with great connectivity for global enterprises
wanting to enter China and for Chinese enterprises looking to go global with
ease and convenience”.
The
IZO Platform, designed to offer seamless user experience across the network, is
a flexible, one-stop cloud platform that helps you navigate complexity for more
agile business performance.
ODISHA BUSINESS
Essar Ports and Shapoorji Pallonji are among companies that have shown interest in developing a river port planned by the Odisha government.
The state
government has initiated the tendering process for selecting developers for
Odisha’s first river port, estimated to cost Rs 2,110 crore.
After
inviting requests for qualification, the state government would hold a pre-bid
conference on Monday.
“The
pre-bid conference is designed to address queries of the prospective bidders.
The port can be either captive or commercial — it will depend on the developer.
This project has a lot of potential despite being planned in the vicinity of
the Paradip Port that mostly handles bulk cargo,” said a source in the know.
The port
is being planned on the Mahanadi River. The project will be located at
Akhadasali village, in Mahakalapada of Kendrapara district. The project will be
done on a public-private-partnership basis. The port’s cargo potential is
pegged at 44 million tonnes per annum (mtpa) — the first-phase capacity is seen
at 18 mtpa.
The
project is proposed to be implemented under the model of build, own, operate,
share and transfer, where the land would be provided by the authority on a
lease basis.
RETAIL
US
retail giant Amazon’s proposed USD 500 million investment in retail of
food products in India would soon get official nod, an official said. The
proposal was pending before the Foreign Investment Promotion Board (FIPB) which
has been abolished now. Hence, the Department of Industrial Policy and
Promotion (DIPP) will soon give green signal to the Amazon’s investment plan.
“With the abolition of Foreign Investment Promotion Board, the DIPP would soon
announce the approval of this proposal,” a senior official in the commerce and
industry ministry said.Earlier, the DIPP under the commerce and industry
ministry had cleared the investment and the proposal was sent to the FIPB for
the final nod.
The
government had received investment proposals from three companies – Amazon,
Grofers and Big Basket – worth USD 695 million for retail of food products.
While US-based retail giant Amazon is one of the major e-commerce players in
India, Grofers and Big Basket are into online grocery space. Amazon has
proposed to invest around USD 500 million in retail of food products. The
government last year allowed 100 per cent foreign direct investment (FDI)
through approval route for trading, including through e-commerce, in respect of
food products manufactured and produced in India.
________________________________________________________________
Source of Information for this issue: Google alert accessed on May 29, 2017
Knowledge Is Power. Be Informed, Be Knowledgeable, Be Powerful.
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
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