INDIEN - Chancen in D-A-CH

INDIEN - Chancen in D-A-CH

INDIA - Prospects in Europe. Let's discuss Opportunities & Risks and Prospects for everybody who wants to be involved with INDIA.

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Bill Clinton visits India to take on women's rights

The former president visited India to highlight the immense economic challenges facing the nation’s women and the need for reform. India may now be the world’s third-largest economy, but the majority of its women still remain behind closed doors. Earlier on Thursday, when former President Bill Clinton (No. 5 on Fortune’s World’s Greatest Leaders list) met with 20 women entrepreneurs in northern India, he opened up a dialogue about access and opportunity. He also put a human face on the Clinton Foundation’s women’s rights data collection and awareness initiative, No Ceilings, which will turn out a progress report early next year on the status of women around the world. http://fortune.com/2014/03/20/fortune-ranks-the-worlds-50-greatest-leaders/ “I chose this venue because so many Indian women are working to empower themselves through entrepreneurship and education, information technology, and microcredit,” President Clinton told Fortune, via email, from Lucknow, the capital of Uttar Pradesh. “I want to hear from them about what we can do to provide more support for meeting their challenges and seizing their opportunities.” The challenges are immense for this nation of 1.2 billion, where, according to the World Bank, women make up 29% of the workforce—the lowest portion of any of the BRICS nations. India’s record on women’s rights and safety is arguably even more dismal: the National Crime Records Bureau recently reported that, on average, 92 women were raped in India every day last year. Thursday’s event was Clinton’s first official appearance in support of No Ceilings and the program’s first women’s rights dialogue in the developing world. He met women who are part of self-help groups that provide microfinance, education, and training. (These groups have teamed up with the Clinton Foundation on a massive, Ikea-sponsored health initiative that educates communities on the importance of using oral rehydration salts to treat diarrhea—a preventable disease that kills 200,000 Indian children every year.) Some of these women say that they were once forced by their families to stay in their own homes. One, for years, was known only by her husband’s name. Now, after taking part in the group, she owns her own furniture business and her own cow, according to the Clinton Foundation. Her kids are going to school—sharing their English and computer knowledge with her—and are poised for a better life than she once expected. It almost goes without saying how striking these women’s experiences differ from that of Hillary Clinton, whose current book tour continues to stoke will-she-or-won’t-she presidential speculation. The No Ceilings project is very much a Clinton family affair and was one of three projects that the former U.S. Secretary of State brought to the foundation last year, after the end of her term. No Ceilings’ upcoming report, which will be published in partnership with the Gates Foundation and with support from Microsoft, will compile data from sources like the World Bank and the United Nations. “We hope it will show, in a powerful way, that women’s full participation is not just a nice thing to do but a right thing to do,” says Maura Pally, executive director of the office of Hillary Clinton. “Our hope is that [the data shows that] countries where full participation indicators are higher are ultimately more economically successful countries.” Personal narratives like those shared on Thursday are crucial to the effort, says Pally. “Sometimes data on paper, or laws on the books, may reflect what is perceived as equality,” she says, “but barriers exist on the ground.” Indeed, public harassment, inadequate policing, and a broken legal system are just some of the roadblocks to equality cited by Indian women’s rights activists, who are now lobbying newly elected Prime Minister Narendra Modi to make equal protection a top priority. Last week, when India’s new government released its first official budget, it included about 3 billion rupees for programs to guarantee women’s rights and safety; time will tell whether these programs translate into increased opportunity and access. “No Ceilings is about first understanding the status of rights and opportunities for women and girls around the world and then focusing on closing what gaps exist,” says Chelsea Clinton, who has hosted No Ceilings conversations in New York, Ireland, and Denver. “In order to do both, everyone, including men and boys must be engaged in this effort. My father leading this conversation in India, underscores that gender equality isn’t just a women’s issue, but a global issue that has long term impact on health, peace and prosperity around the world.” http://fortune.com/2014/07/17/india-bill-hillary-clinton/
Adarsh Jain
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Even before he arrived in Delhi, US Secretary of State John Kerry was talking about the relations between US and India - with a promise to increase trade and investment. In an address to the Center for American Progress, a think tank, on Monday in Washington, he quoted Indian Prime Minister Narendra Modi's poll mantra "Sabka Saath, Sabka Vikas" ("Together with all, development for all"). This is the first high-profile US delegation to India since Narendra Modi's BJP party stormed to victory in the country's election. Despite the upbeat political rhetoric, relations between two of the world's largest and oldest democracies are not at their best. A bitter spat about the arrest of an Indian diplomat last year and disputes over trade and intellectual property have dominated bilateral ties. Now the Obama administration is looking to "reset" its relationship with India as a whole. A recent US law says companies are not allowed to sell products to the US that have been manufactured using stolen or illegal IT products. And with a software piracy rate of 63% - second only to China - that has got tens of thousands of small and medium-sized manufacturers across India worried. Upgrading software and complying with the new requirements is not easy but experts say risking loss of trade with the US is not an option. Software piracy is just one issue India and the US are at loggerheads on. India is desperate for more energy - and has its eye on cheap shale imports from the US. The US currently only sells gas to countries it has a free trade agreement with. India has no such deal but wants the US to open up the market. The US on the other hand is worried about protecting the intellectual property of its companies - especially in pharmaceuticals. India exports about $20bn worth of generic drugs and the US fears more of them coming to American markets threatens profits and jobs in its own industry. Despite the issues, trade between the US and India totalled almost $100bn last year - a fivefold increase since 2000. As well as lucrative IT services, companies here export clothes, pharmaceuticals and engineering goods to the US - one of the largest export market for India. And with a population of more than 1.2 billion people - and an economy growing much faster than western nations - US businesses too want more access to the Indian market. ________________________________ What are the issues behind the frosty US-India ties? - Snooping: India complained to the US in July this year about spying after allegations that the National Security Agency (NSA) targeted the governing BJP. - WTO stand-off: India and the US have clashed many times at the WTO. India is now threatening to oppose a worldwide reform of custom rules unless it's given more freedom to subsidise and stockpile food grains. The deadline for the deal is Thursday. - Air safety downgrade: India has asked the US's Federal Aviation Administration (FAA) for a fresh audit of its air services after the FAA downgraded India to Category-II in safety rankings, clubbing it with Zimbabwe and Indonesia as it expressed a concern over a lack of full-time flight operations inspectors. - Defence deals: India recently raised foreign investment in the defence sector to 49% but has put in ownership limits. This has raised concerns among American firms as most would want to control their technology and protect their intellectual property. - Nuclear deal: The landmark Indo-US nuclear deal signed in 2008 was supposed to open the door for American companies with the technology to build nuclear reactors in India, but their Russian and French competitors have continued to beat them to contracts. The US wants India to clarify the law. - Visas for IT workers: Business prospects of many Indian companies have been hit as the US rejects an increasing number visa applications from Indian IT workers.
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Is geopolitics back?

The last twelve months has seen a notable rise in tensions in many parts of the world. Thailand is back under military rule, China has become more aggressive with Japan and its other maritime neighbours, Russia invaded Ukraine, and existing conflicts in Syria, Gaza and Iraq all intensified. While these conflicts have caused immense human and political dislocation, financial markets have been rather sanguine. The Russian stock market, for example, is down only around 5% from twelve months ago. Markets are betting that economic relationships are going to trump political ones, a point that caused some disruption in the Indian parliament this week. For my part, I'm worried that markets are underpricing political risk in a desperate search for some returns. During a debate in the Rajya Sabha (the upper house of parliament) on the Gaza conflict, opposition lawmakers pressed for the adoption of a resolution condemning Israel, as well as seeking a suspension of all military purchases from Israel. For its part, the government, which is led by the Bharatiya Janata Party (BJP), refused to take sides in the ongoing conflict between Israel and the Palestinians, which has so far left several hundred people—mostly Palestinians—dead. This marks a conspicuous change in stance for India, which has historically backed the Palestinian cause. Defending the government's position, the foreign minister, Sushma Swaraj, said that India would back efforts to revive an Egyptian-brokered ceasefire agreement between Israel and the Islamist Hamas movement, which controls Gaza. A long-time supporter of the Palestinian cause, India established diplomatic ties with Israel only in 1992. Even since then, it has consciously sought to keep its engagement with the Jewish state out of the public eye for fear of alienating India's Muslim minorities, a key vote base. However, in recent years ties between India and Israel have strengthened, particularly in the security sphere, as Israel has emerged as one of India's top weapons suppliers. India's equivocation on the Israeli-Palestinian issue over the years has also been borne out of a palpable absence of Arab support on India's own claims to Kashmir. The government's attempt at walking the diplomatic tightrope on the Gaza conflict underlines the difficult balance between strategic considerations abroad and the political arithmetic at home. Ties with Israel may expand further under the Hindu-nationalist government led by the prime minister, Narendra Modi. Mr Modi visited Israel when he was chief minister of Gujarat, while Israel's only prime ministerial visit to India took place under the previous BJP government (1998–2004).

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Hitesh Barot Aniruddh Shastree
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Hitesh Barot Hitesh Barot
It was never faded away, it's just getting intensified
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How MasterCard became a tech company

Ajay Banga loves to talk about the wonders of a cashless society, but every now and then it can backfire. At his first offsite leadership meeting after taking over as president and CEO of MasterCard, he gave his senior team a spirited speech about the downside of cash—it’s hard to track; it’s used for drugs, weapons, and tax evasion; and it’s expensive to make (just the cost to produce and distribute it can run the central bank of an average country up to 1.5% of GDP). As he concluded his remarks, one of the executives in the room, at the Fontainebleau in Miami, challenged Banga to show the group how much cash he had on him. Banga opened his wallet and pulled out $2, at which point the group chided him. “The others basically said, ‘What a cheap guy—he can’t even tip the bellboy,’ ” Banga recalls. “And they were right. I didn’t tip the bellboy!” Banga espousing the benefits of going cashless is a little bit like Howard Schultz saying everyone should drink coffee—after all, this is a company that makes money on transaction fees every time someone uses credit instead of cash—but Banga is a man on a mission, even if it means coming off as a cheapskate once in a while. These days Banga has a lot to talk about. When he took over MasterCard exactly four years ago, the company had recently gone public, and disrupters like Square and PayPal were starting to make waves in mobile payments. Now the company most people associate with a piece of plastic is going virtual, digital, and biometric. It’s experimenting with facial-recognition software, mobile-payment systems, touchless transactions, and its own idea of a “digital wallet” that it thinks can succeed where others have failed. It is using big data to give its customers better insight, and it has a Google-style moon-shot lab for experimental new ventures. Banga is hardly a native technology CEO—a consumer products lifer, he cut his teeth at Nestlé in India before jumping to PepsiCo’s restaurant division and then to Citibank—but to hear him talk philosophically about a “world beyond cash,” he sounds more like a Silicon Valley futurist than a payment-processing executive. Credit cards are a funny business. For one thing, companies like Visa ( V ) and MasterCard ( MA ) are not technically credit card companies; they’re payment-processing companies, effectively acting as the middleman in the transaction between consumers, merchants, and credit card issuers (typically a bank). Both MasterCard and its rival Visa were in fact once owned by banks: MasterCard by an “association” formed in 1966 that included Wells Fargo ( WFC ) , Bank of California, and First National, and Visa by Bank of America ( BAC ) (it was originally called the Bank AmeriCard). In 1969 the “Interbank Card,” as it was called, was renamed Master Charge, then MasterCard in 1979. Even after the two went public—MasterCard in 2006, Visa in 2008—they carried their legacies with them; the card brands remained heavily influenced by the banks that had owned them. Between Visa and MasterCard ( MA ) , it’s a two-horse, Coke-and-Pepsi-style race: Visa is the larger of the two, with $11.8 billion in 2013 revenue to MasterCard’s $8.3 billion, and $4.38 trillion in global spending volume to MasterCard’s $3 trillion (American Express is much smaller by that metric, at $940 billion). But while Visa is bigger, MasterCard is growing faster in places like Europe. (American Express has more revenue than either one, at $33.4 billion, but has a different business model.) Banga faces two big hurdles: to get customers to choose credit over cash, and when they do, to get them to choose MasterCard ( MA ) . The first is being helped by a societal trend toward credit over cash (see “The Death of Cash”). The second is more of a challenge when, as even Banga admits, the two brands are interchangeable in consumers’ minds, since both are accepted nearly everywhere. “They’re both ubiquitous,” he says. Banga believes the key to getting consumers to reach for MasterCard instead of Visa lies in offering technology that makes the purchase experience smoother for customers and merchants. And so, from day one, his aim has been to make innovation a priority. The first thing you notice about Banga, 54, is the thick black beard on his face and the elegant black turban atop his head. The turban is central to Sikhism (Banga was raised Sikh in Pune, India, the son of a retired Indian military general) but is a rare sight in U.S. boardrooms. In a graduation speech at New York University’s Stern School of Business in June, Banga conceded as much: “I tend to stand out in a room,” he said. “Turbans and beards will do that to you.” He joked that being randomly searched at airports is his “part-time hobby.” The next thing you notice about him is his humor. He teases colleagues and makes fun of himself, frequently; he talks candidly and swears for emphasis. But that frankness and ability to disarm earn him respect. “Ajay is the most intelligent person I’ve worked with in my life,” says one senior colleague who did not want to be quoted for fear of looking obsequious. “It comes down to his confidence; he is deeply at ease with himself.” When he first joined the company, Banga walked the halls and struck up conversations, asking people who they were and what they did. Employees weren’t used to it. One alum, who worked at MasterCard for more than a decade, says the culture was “extremely conservative” before Banga. The company’s headquarters in Purchase is a sprawling, 450,000-square-foot building designed by I.M. Pei that MasterCard bought from IBM in 1995. The open hallways, flooded with natural light, are beautiful, but like any corporate campus, spread out and impersonal. That’s changed a little under Banga: the company recently ordered 35 Xootr scooters for the 1,500 employees here to use for getting to meetings; stuffed monkeys hang from trees in the “conversation suite,” a new interactive social media center. And of course, at the cafeteria and at various coffee carts, only MasterCard is accepted—no cash. Credit card processors are in a way the original technology plays; MasterCard’s core competency, after all, has always been the technology infrastructure that connects more than 25,000 banks to 2 billion cards that are used at 40 million merchants in 210 countries. But Banga doubled down on technology. He launched an in-house innovation arm, MasterCard Labs, in 2010 when he was still COO. PayPass, its contactless technology, was rolled out in 2012 and is now used by more than 2 million merchants in 63 countries. MasterPass, the company’s digital wallet (it stores your personal data to more quickly complete a purchase from any device, using any brand of card) followed, in February 2013. And while digital wallets have had questionable success—Google Wallet, Square Wallet, and Visa’s original digital offering, V.me, all failed to gain traction—MasterCard is making MasterPass its biggest digital push yet, with constant product updates and, as of this month, the ability to purchase from within apps rather than just at mobile websites. To win in the digital payments market, “you have to have some basic capability in the physical world and some capability in the digital world,” says Ed Olebe, who worked in emerging payments at MasterCard and left this year to start his own mobile commerce company. “And what a lot of these smaller, newer companies find is that it’s very hard to make a dent in the physical world. The players who can handle the digital challenges and the security challenges, and keep a presence in the physical world, will win. And that’s MasterCard.” Ask Banga what other technologies MasterCard has up its sleeve and he offers a string of examples, some of them apps, some just small features that bring big convenience. He loves inControl, which lets you carry just one MasterCard but set it to charge either your credit or debit account for purchases above or below an amount you choose. It can also work like parental controls on a television, restricting the type of store where the card can be used. Or, Banga points out, it can help curb your Starbucks addiction: Set it to limit your spending there each month to, say, $50, and “at $45 it’ll send you a text and say, ‘Hey, dopey guy, you’ve reached $45. Next time you go, what do you want me to do?’ ” That all may sound pretty simplistic, but it’s something MasterCard has patent-protected for the next 10 years. Other innovations are in play overseas: The company is working with governments in countries like South Africa to issue cards that contain biometric data. It has ramped up fraud protection in the wake of the 2013 Target breach (as have all its competitors). And it is starting to use big data to enhance existing services, most notably for its small-business customers. Its Market Vision reports now tell small businesses how they’re doing as compared with an aggregate of similar competitors in the area. Analysts say Banga is succeeding in his mission. Banga co-chairs the World Economic Forum’s financial steering committee. In Lebanon and Jordan it partnered with the UN World Food Programme to give Syrian refugees ­MasterCards loaded with $27 per week for food. In political crisis zones like Russia and Egypt, many government employees get their salaries on prepaid MasterCards. With Banga’s eye trained on technology, MasterCard looks well positioned to lead in a post-cash world. http://fortune.com/2014/07/24/mastercard-tech-company/
Daniel Stateczny Daniel Stateczny PremiumModerator

Unternehmerveranstaltungen in Hamburg

Hallo zusammen, ich befasse mich mit der Entwicklung interaktiver und digitaler Geschäftsprozesse. Zudem habe eine neue Xing-Gruppe gegründet: "Unternehmerveranstaltungen in Hamburg" Jetzt Mitglied werden, Veranstaltungen, Räumlichkeiten, Services präsentieren und über Events informieren. https://www.xing.com/de/communities/groups/unternehmerveranstaltungen-in-hamburg-295e-1007864 Viele Grüße Daniel Stateczny

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Kamlesh Gusain Daniel Stateczny
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Kamlesh Gusain Kamlesh Gusain
Ich bin zu glücklich, ich kann spreche etwas deutsch.
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Indian Economy

POLICY WATCH State clears power projects worth Rs 161.40 billion 8 new SEZ proposals cleared New Guidelines issued on ASU medicines Promoters must disclose pledged shares SEBI makes it easier for FIIs committing 5% of corpus India, Jordan signs BIPPA State clears power projects worth Rs 161.40 billion THE State Level Single Window Clearance Authority (SLSWCA) approved 2 thermal power projects with combined investment of Rs 161.40 billion. This includes 1680 Mega Watt (MW) thermal power project proposed by L &T with an investment of Rs 102 billion near Dhamra in Bhadrakh district and 1000 MW thermal power plant proposed by Jindal Steel and Power Ltd (JSPL) at Bainda in the Dhenkanal district with an investment of Rs 59.40 billion. 8 new SEZ proposals cleared THE Board of Approval for Special Economic Zones (SEZ's) has approved 8 fresh proposals for establishing SEZs across the country, The board gave formal approvals to three IT/ITES SEZs, out of which two would be located in Tamil Nadu and one in Maharashtra. A port-based SEZ, including port development, has been approved for Karaikal Port Pvt Ltd in Karaikal district, Puducherry. The formal approvals for SEZs have crossed 550 out of which 278 SEZs have already been notified. New Guidelines issued on ASU medicines THE Ministry of Health and Family Welfare has issued guidelines on pre-clinical and clinical studies for the Ayurveda, Siddha and Unani (ASU) medicines through a notification of draft rules adding new rule in the Drugs and Cosmetics Act, 1945. The Government through the guidelines has suggested extensive safety evaluation procedures for approval of ASU medicines including sub-chronic toxicity tests, genotoxicity studies and clinical trials. The purpose of the guidelines are the developed methodologies for records and evaluation methods to facilitate the development of regulation and registration in ASU and other traditional medicines in a phased manner and also to facilitate to promote health understanding of these drugs. Promoters must disclose pledged shares SECURITIES and Exchange Board of India (SEBI) has made it mandatory for promoters to disclose details of shares pledged by them in their listed entities. It has mandated two kinds of disclosures: event-based disclosures, which must be made as and when the shares are pledged; and periodic disclosures, which must be made when companies report their quarterly statements to the stock exchanges. If a promoter raises his shareholding to 5 or 10%, he currently has to disclose his aggregate shareholding under the takeover code. SEBI makes it easier for FIIs committing 5% of corpus SEBI makes it easier for Foreign Institutional Investors (FIIs) committing 5% of corpus; foreign funds planning to enter the Indian stock market will get more time to comply with regulations if they commit to invest at least 5% of their corpus in local stocks. The move is aimed at giving greater flexibility to new funds and encouraging more portfolio investment. India, Jordan signs BIPPA INDIA and Jordan have signed a Bilateral Investment Promotion and Protection Agreement (BIPPA). As per the agreement, both the countries will accord national treatment and most favoured nation treatment to investments from each other's territory, both the countries will treat each other's investments on par with the treatment given to investments from domestic investors or any other country. The BIPPA seeks to promote and protect investments from either country in the territory of the other country with the objective of increasing bilateral investment flows. INDUSTRY WATCH Investment in textile sector to touch Rs 1500 billion by 2012 Telecom industry adds 113.26 million new customers in 2008 Indian healthcare to be worth US$ 10.3 billion by 2010 India will be second in growth race in 2009 Infrastructure sector Optimistic in 2009 Investment in textile sector to touch Rs 1500 billion by 2012 INVESTMENT in textile sector is likely to cross Rs 1500 billion by 2012 and generate about 17.37 million jobs. The sector between 2004 and 2008 has seen a surge in investment at Rs 1,085.31 billion which is expected to touch Rs 1,506 billion by 2012. The current year has witnessed a sharp improvement in Indian merchandise exports and it grew much faster than expected. Telecom industry adds 113.26 million new customers in 2008 THE country added 113.26 million new customers in the telecom industry in 2008, the largest globally. Off these, 10.66 million users were added in December. To put this growth in perspective, the country's cellular base witnessed close to a 50% growth in 2008 where an average 9.5 million new customers were added every month. The country had 346.89 million mobile phone users as of December 2008-end compared to 233 million in the corresponding period a year ago. The total number of telephone connections (mobile and fixed) has touched 385 million as of December-end, taking the telecom penetration to over 33%. Indian healthcare to be worth US$ 10.3 billion by 2010 INDIAN healthcare sector to grow to US$ 10.3 billion by 2010, the growth will be driven by a number of factors like rising life expectancy, rising household income, increasing penetration of health insurance, Government action and rising incidence of lifestyle-related diseases. This report is part of a series based on the results of monthly surveys for the Boston Analytics Consumer Sentiment Index (BACSI). It focuses on India's healthcare sector and captures consumer responses to questions in lifestyles and attitudes towards healthcare. India will be second in growth race in 2009 INDIA will be the second fastest growing economy in the world after China in 2009. India's economy will grow 5.8% in FY 2010 due to fall in external demand and a slowdown in investments. The US, EU and Japan are likely to experience a significant contraction in economic activity in 2009 and possibly in 2010. Infrastructure sector Optimistic in 2009 INFRASTRUCTURE sector can foresee optimism in 2009 as there are signs of the Government trying to revive and focus on bringing more infrastructure projects into the market unlike 2008, the opportunities for growth in the infrastructure sector continue to be as promising as ever although it is heavily dependent on capital flows and it is likely that with increasing focus on project execution, Indian companies will start capitalising on the opportunities. CORPORATE HIGHLIGHTS Trivitron ties up with Vision Engineering NetApp-TCS centre in Chennai Petronet ties up with BP UBS inks pact with AIG to buy commodity index biz M&M enters retailing with Mom & Me stores Jet, JetLite ink code-sharing pact Royal Orchid ties up with Vaswani group to launch service apartment Cluster Pulse signs MoUs with China, Canada TCS inks deal with Ducati L&T signs pact with Westinghouse of US Tata Communications picks up 30% stake in Neotel Trivitron ties up with Vision Engineering TRIVITRON has formed a 51:49 Joint Venture (JV) with the Pune-based Vision Engineering Pvt Ltd, an x-ray machine manufacturing company, the company would be spending Rs 100 million for modernising and expanding the two manufacturing facilities of Vision Engineering located at Tathawade and Pimpri in Pune. The medical and industrial x-ray machines manufactured from these facilities, which have been awarded CE certification, would be marketed under the brand name of Trivitron Pride in the domestic, Middle East, Africa, South and South-East Asia markets. NetApp TCS centre in Chennai NETAPP, a US$ 3.3 billion US-based company, and Tata Consultancy Services (TCS) have announced a global alliance with the launch of a new NetApp-TCS centre of excellence lab in Chennai. It is the first tie-up for NetApp with an Indian software service provider. While NetApp is a product company, TCS is engaged in system integration. TCS will train its employees on NetApp products and these employees will be deployed at client's onsite locations in US, UK, Singapore and Australia. Petronet ties up with BP PETRONET Liquefied Natural Gas (LNG) has tied up with global oil and gas major BP Plc's trading arm to import the liquid fuel at its Dahej terminal this year. Petronet in November signed a short-term contract to import LNG for meeting the fuel needs of Dabhol power plant in Maharashtra. The company had last year imported LNG for the 2,150 Mw power plants from RasGas of Qatar. The deal for 1.25 million tonnes of LNG expired in December. BP may supply LNG mainly from Damietta LNG project in Egypt, where it has a long-term LNG purchase contract. UBS inks pact with AIG to buy commodity index biz UBS Investment Bank has entered into an agreement with crises-ridden insurance major American International Group to acquire its commodity index business for US$ 150 million. The Swiss bank said in a statement that it has entered into a binding agreement to purchase the commodity index business of AIG Financial Products Corporation, including AIG's rights to the DJ-AIG Commodity Index. The transaction is expected to close by May 2009. M&M enters retailing with Mom & Me stores MAHINDRA & Mahindra (M&M) has made a quiet foray into the retail sector with the soft launch of its specialty format Mom & Me to sell infantcare and maternity products. The company has launched two outlets in Ludhiana and Ahmedabad. The company has invested close to Rs 1 billion in the venture. In this segment, Mahindra is likely to have little competition with the only other major player being British brand Mothercare, which entered India in partnership with Shoppers Stop three years ago. Jet, JetLite ink code sharing pact JET Airways has entered into a code-sharing agreement with its all-economy subsidiary JetLite that will enable it to sell the latter's domestic tickets at foreign locations. The code-sharing will be implemented in two phases and JetLite's domestic network will be available for sale under the Jet Airways' code (9W) for tickets purchased at all international points across the globe. With the code-share agreement between Jet Airways and JetLite, passengers will enjoy unbeatable connectivity between India and several international destinations, besides lower fares. Royal Orchid ties up with Vaswani group to launch service apartment ROYAL Orchid Hotels Ltd has tied up with real estate developer Vaswani group to launch Royal Orchid Suites at Whitefield, the hospitality chain's second service apartment property in India. The 88-key property has been developed at Rs 500 million, and Royal Orchid Hotels will be managing and operating it. The tariff would be Rs 2,990 a night for studio apartments, and Rs 3,990 for single bedroom units. Cluster Pulse signs MoUs with China, Canada CLUSTER Pulse, a group company of Ahmedabad-based Global Network, an international trade consulting firm, has signed Memorandums of Understanding (MoUs) with countries like China, Uganda, Ghana and Canada. As per the agreement, Cluster Pulse will assist Small and Medium Enterprises (SMEs) in these countries to develop fan, ICT, telecom and agricultural clusters, respectively. Cluster Pulse is also part of the US$ 120 million worth World Bank led multi-agency project of financing and developing SMEs in India. TCS inks deal with Ducati TATA Consultancy Services (TCS) has partnered with KPMG Advisory Italy for a multi-million dollar contract from Ducati Motor Holding to deliver technology-based services for several years that would help improve the Italian bike maker's customer responsiveness and business efficiency. To begin with, the Indian software giant would provide enterprise resource planning for Ducati and its multiple subsidiaries in Europe. L&T signs pact with Westinghouse of US LARSEN & Toubro (L&T) has signed a MoU with US-based Westinghouse Electric Company (WEC) to offer pressurised water nuclear reactors with modular construction technology in India. Of the 450 reactors operational worldwide, Toshiba-owned WEC has a market share of 40%, while in the US it has 60%. The deal will enable to utilise indigenous capabilities of both the companies for the turnkey construction of nuclear power plants, including supply of reactor equipment and systems, valves, electrical and instrumentations products and fabrication of structural, piping and equipment modules for the Westinghouse AP 1000 plants. Tata Communications picks up 30% stake in Neotel TATA Communications has bought the 30% stake in Neotel. With this, Tata Communications in association with Tata Africa Holdings became the largest stakeholder with 56% stake. This reaffirms Tata Communications commitment to its expansion and investment plans in the emerging regions of Asia, Africa and the Middle East. Kind regards, Nilgun Birgoren
Detlev Kuegler Shrikanth Venkateshappa
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Reliance Industries, one of India's largest industrial conglomerates, has reported a sharp rise in profits thanks in part to a turnaround at its oil and gas business. Net profit between April and June was 60bn rupees ($1bn), 14% higher than a year earlier. Revenue rose 7% to 1.1 trillion rupees. The results were better than analysts had expected. Reliance is controlled by India's richest man, Mukesh Ambani. The company also has a "great pipeline" of new projects and plans to expand its retail business further. Having declined in previous quarters, revenue at the company's oil and gas business rose by more than a quarter, following strong performance at the North American shale gas business. Reliance owns a supermarket chain and a telecommunications company, but gets most of its revenue from its oil-refining business.