ASBM Business Updates is a Weekly Selective Compilation of Business News from Various Sources. To find details follow the links.
BUSINESS
COMMUNICATION
SpaceX on
Thursday launched the EchoStar 23 communications satellite after high winds
delayed a previous attempt.
The
launch took place at the historic Launch Complex 39A (LC-39A) at NASA's Kennedy
Space Center in Florida.
SpaceX's Falcon 9 rocket deployed the EchoStar 23 -- a commercial
communications satellite for EchoStar Corporation -- to a geostationary
transfer orbit (GTO).
"Successful
deployment of @EchoStar XXIII to a Geosynchronous Transfer Orbit
confirmed," the Hawthorne, California-headquartered company headed by Elon
Musk, said in a tweet.
Headquartered
in Englewood, Colorado, and conducting business around the globe, EchoStar
Corporation is global provider of satellite communication solutions.
EchoStar
23 is a highly flexible, Ku-band broadcast satellite services (BSS) satellite
with four main reflectors and multiple sub-reflectors supporting mission
profiles.
High
winds forced SpaceX to postpone an earlier attempt to launch the communications
satellite on Tuesday.
ODISHA
BUSINESS
46 out of 92 MoU units start production in Odisha
Forty six
out of the 92 units that have signed memorandum of understanding (MoU) with the Odisha government, have commenced either partial or full
scale production.
"The
industries that have started partial or full operations have invested Rs 2.53
lakh crore, generating employment for 152,398 people in the state",
industries minister Debi Prasad Mishra informed the Odisha Legislative Assembly through a written reply.
The
operational industries have recruited 101,147 persons from the state and the
rest from elsewhere.
From 2004,
the Odisha government has signed MoUs with 92 companies
across sectors like steel, aluminium, cement, thermal power, downstream, auto
components and petrochemicals. The combined investment intention by these
companies stands at Rs 5.68 lakh crore.
Bulk of the
investments have flown from the steel sector. With 48 MoUs, steel sector leads the pack of investors. As many as 33 steel units have already started partial or full scale
production, investing around Rs 1.3 lakh crore, creating capacity of nearly 15
million tonne. Tata Steel, Bhushan Steel and Jindal Steel & Power Ltd (JSPL) have been the major
investors.
In the power
sector, independent power producers (IPPs) have invested around Rs 40,000
crore. The state government has inked MoUs with 28 IPPs, envisaging a total
production capacity of around 37,500 Mw with proposed investment of over Rs 1
lakh crore. Three IPPs- Vedanta Group firm Sesa Sterlite, GMR Kamalanga and
Jindal India Thermal Power Ltd (JITPL) have begun commercial production.
RETAIL
Low-cost carrier
SpiceJet which was revived from the verge of closing down business is now
looking to enter new territories. Airline sources have confirmed toBusiness
Standard that it is on the final stages of preparation of entering retail
business.
The foray will
be through a separate subsidiary company called SpiceJet Merchandise Private
Limited which was incorporated last year.
The development
was first reported by CNBC TV-18.
While SpiceJet
owns 99 per cent of the company, one percent is held by promoter Ajay Singh.
“The company is
looking to find spaces for wholly owned stores across malls in metro cities of
India, to sell products under the Spice brand,” a company official said without
disclosing further information.
Along with
SpiceJet merchandise, apparel and electronic products will be available in the
stores. “Customers can order online also and we will develop a strong
distribution channel to send the product to their home,” the official said.
All the products
available will be under private labels i.e fully owned and sold under the
company’s brand name. “The brand name is likely to be Spice but nothing has
been finalised as of yet,” the official said.
_______________________________________________________________________
Source of Information
for this issue: Google alert accessed on Mar 20, 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,
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