Mumbai: Pune based real estate firm Panchshil Realty today announced the launch of Trump Towers Pune, a Trump branded residential property.
This marks the entry of the Trump brand, associated with Donald Trump into the luxury real estate market in India. "We are thrilled to announce Trump Towers Pune. It will be an amazing building in one of the hottest locations in India," said Donald Trump. Located in Kalyani Nagar, an upscale neighbourhood, the project is scheduled to be completed by 2015.
The company said that it had secured all the required approvals and construction was already underway. "As a company, Panchshil has always believed in providing the best living spaces to customers by creating innovative projectsWe are proud to bring the Trump Brand to India and are excited to introduce one of the most luxurious living experiences in Pune.
Trump Towers Pune will be the address symbolizing the upper-crest living in Pune and be the most prestigious address to reside in," said Sagar Chordia, Director of Panchshil Realty, the developer of Trump Towers Pune. It is important to note that Trump Towers Pune is not owned, developed or sold by Donald J. Trump, the Trump Organization or any of their principals or affiliates.
Zero G Apartments Private Limited is the owner, developer and promoter of the property (in association with Premsagar Hotels Private Limited, Atul Chordia and Sagar Chordia), and uses the "Trump" name and mark under license from DT Marks Pune LLC. Trump Towers Pune is slated to be one of the tallest residential buildings in the city with two 22-storey towers. Each floor houses one spacious apartment of approximately 6000 sq ft with five bedrooms and an exclusive home theatre room. Panchshil Realty has also partnered with Philippe Starck for his foray into India under the yoopune brand.
Success in my Habit
Wednesday, August 8, 2012
Govt approves Rs 3,387 crore for roads in Bihar
ew Delhi: The Government of India has approved 2,389 projects under the Integrated Action Plan (IAP) for construction of 9,070 kilometer (km) of roads in rural Bihar, at an estimated cost of Rs 3,387 crore (US$ 614.12 million). The project has been approved in a phased manner.
Under the rural road projects scheme nine districts—Aurangabad, Gaya, Jehanabad, Arwal, Jamui, Nawada, Rohtas, Munger and Kaimur—will be covered, according to Mr Bhim Singh, the State Rural Works Minister.
Rohtas has been sanctioned 1,990 km of roads, the longest road length, followed by Gaya (1,550 km), Aurangabad (1,312 km), Kaimur (1,235 km), Arwal (168 km) and Munger (268 km).
Out of 9,070 km sanctioned, 4,499 km has been already built by the Central and State agencies.
Henceforth rural areas, inhabited by a population ranging from 250 to 500 people, would be connected with quality roads for round-the-year connectivity, as per Mr Bhim Singh.
Under the rural road projects scheme nine districts—Aurangabad, Gaya, Jehanabad, Arwal, Jamui, Nawada, Rohtas, Munger and Kaimur—will be covered, according to Mr Bhim Singh, the State Rural Works Minister.
Rohtas has been sanctioned 1,990 km of roads, the longest road length, followed by Gaya (1,550 km), Aurangabad (1,312 km), Kaimur (1,235 km), Arwal (168 km) and Munger (268 km).
Out of 9,070 km sanctioned, 4,499 km has been already built by the Central and State agencies.
Henceforth rural areas, inhabited by a population ranging from 250 to 500 people, would be connected with quality roads for round-the-year connectivity, as per Mr Bhim Singh.
Cement majors sign global pact to cut carbon emission
New Delhi: Indian cement majors — ACC Ltd, Shree Cement Ltd and Ultratech — have signed a co-operation pact to support low-carbon investments in India. The pact was signed in Geneva with member companies of the World Business Council (WBC) for Sustainable Development’s Cement Sustainability Initiative and International Finance Corporation (IFC).
Under the pact, a Low Carbon Technology Roadmap for the Indian cement industry is to be launched this year-end. “This will be the first roadmap to focus on one specific industrial sector in a single country,” a WBC release said.
The roadmap will outline a possible transition path for the cement industry to reduce its direct emissions by 18 per cent by 2050.
Ramesh Ramanathan, Manager, (Manufacturing, Agri Business and Services), IFC South Asia said: “While public policy responses are critical in addressing climate change, the private sector also plays a leading role in providing innovative business solutions…. We view the roadmap project as a unique initiative to share best practices in sustainability.”
Under the pact, a Low Carbon Technology Roadmap for the Indian cement industry is to be launched this year-end. “This will be the first roadmap to focus on one specific industrial sector in a single country,” a WBC release said.
The roadmap will outline a possible transition path for the cement industry to reduce its direct emissions by 18 per cent by 2050.
Ramesh Ramanathan, Manager, (Manufacturing, Agri Business and Services), IFC South Asia said: “While public policy responses are critical in addressing climate change, the private sector also plays a leading role in providing innovative business solutions…. We view the roadmap project as a unique initiative to share best practices in sustainability.”
Exim Bank to help exports of Indian medicine products
Chennai: The Export-Import Bank of India has agreed to provide loans to fund the setting up of common infrastructure facilities at Sriperumbudur, near Chennai, which will help boost exports of ayurveda, yoga and naturopathy, unani, siddha and homeopathy products from India.
The producers of these 'AYUSH' products have set up a common company, Traditional Ayush Cluster of Tamil Nadu Pvt Ltd (TACT), which is eligible for support from the government of India under the 'cluster company' scheme.
With the funding from Exim Bank, the cluster company will set up hi-tech facilities for testing and analysis, product validation, safety studies and manufacturing. Apart from upgrading the manufacturing technology of ayurvedic drugs, a facility is also being developed for entrepreneurs to help them compete in the international market and to develop a R&D centre, especially for Siddha and Ayurveda products.
The loan agreement was signed recently by Prabhakar Dalal, Executive Director, Exim Bank and V. Dharmalingam, Chairman, TACT, in Chennai.
"The support from Exim Bank will enable us to meet the basic standards and scientific protocols, thereby enhancing acceptability of our products internationally," says Dharmalingam.
Tamil Nadu has 900 units in the 'Indian Systems of Medicine (ISM)' sector, and accounts for 7 per cent of the overall turnover of the industry.
Dharmalingam notes that the ISM products have good export potential but it is imperative for manufacturers to validate their products and processes by adopting modern, good manufacturing practices.
The producers of these 'AYUSH' products have set up a common company, Traditional Ayush Cluster of Tamil Nadu Pvt Ltd (TACT), which is eligible for support from the government of India under the 'cluster company' scheme.
With the funding from Exim Bank, the cluster company will set up hi-tech facilities for testing and analysis, product validation, safety studies and manufacturing. Apart from upgrading the manufacturing technology of ayurvedic drugs, a facility is also being developed for entrepreneurs to help them compete in the international market and to develop a R&D centre, especially for Siddha and Ayurveda products.
The loan agreement was signed recently by Prabhakar Dalal, Executive Director, Exim Bank and V. Dharmalingam, Chairman, TACT, in Chennai.
"The support from Exim Bank will enable us to meet the basic standards and scientific protocols, thereby enhancing acceptability of our products internationally," says Dharmalingam.
Tamil Nadu has 900 units in the 'Indian Systems of Medicine (ISM)' sector, and accounts for 7 per cent of the overall turnover of the industry.
Dharmalingam notes that the ISM products have good export potential but it is imperative for manufacturers to validate their products and processes by adopting modern, good manufacturing practices.
Venezuela seeks more investments from India in petroleum sector
New Delhi: Venezuela is keen on more investments from India in the petroleum sector. This was conveyed to Foreign Minister S.M Krishna by his Venezuelan counterpart at a meeting here on Tuesday.
The statement comes days after reports that Venezuela may appropriate assets, including some in which Indian oil companies have invested in partnership with a Spanish firm.
Meanwhile, to promote trade and investment ties between India and the Community of Latin American and Caribbean States, it was agreed to set up an India-CELAC Business Council and Chief Executive Officers Forum. A joint statement issued after the first meeting of the India-CELAC Troika Foreign Ministers, while expressing satisfaction over the growth of commercial, economic and investments relations between India and the region, said trade at $25 billion in 2012 was “still far below potential.”
The two sides also agreed to set up an energy forum, a science forum and an agriculture expert group to boost ties.
Addressing the media, Krishna said Tuesday’s discussions also explored ways to provide value addition to business activities by direct trading, imparting technology and setting up mutually beneficial partnerships in the manufacturing sector.
“India has offered to share its experiences in e-governance, telemedicine, tele-education with CELAC countries, use of satellite technology to map mineral resources of the region as well as to assist in weather forecasting,” the Minister said.
The statement comes days after reports that Venezuela may appropriate assets, including some in which Indian oil companies have invested in partnership with a Spanish firm.
Meanwhile, to promote trade and investment ties between India and the Community of Latin American and Caribbean States, it was agreed to set up an India-CELAC Business Council and Chief Executive Officers Forum. A joint statement issued after the first meeting of the India-CELAC Troika Foreign Ministers, while expressing satisfaction over the growth of commercial, economic and investments relations between India and the region, said trade at $25 billion in 2012 was “still far below potential.”
The two sides also agreed to set up an energy forum, a science forum and an agriculture expert group to boost ties.
Addressing the media, Krishna said Tuesday’s discussions also explored ways to provide value addition to business activities by direct trading, imparting technology and setting up mutually beneficial partnerships in the manufacturing sector.
“India has offered to share its experiences in e-governance, telemedicine, tele-education with CELAC countries, use of satellite technology to map mineral resources of the region as well as to assist in weather forecasting,” the Minister said.
Tuesday, August 7, 2012
Aurobindo gets US FDA nod for anti-asthma, chewable tablets
Montelukast Sodium is used for treating prophylaxis and chronic treatment of asthma, prevention of exercise-induced broncho-constriction in patients older than 15 years of age.
The annual sales of Montelukast Sodium tablets were about $3.5 billion and that of the chewable tablets is $1.1 billion, in the twelve months ending March 2012, says a press release from Aurobindo.
The products are made in Hyderabad.
Aurobindo now has a total of 157 bulk drug approvals from the US FDA, the release said.
In 2011-12, Aurobindo achieved a turnover of Rs 4,281 crore and made a net loss of Rs 42 crore. On the BSE today, the Aurobindo share is trading at around Rs 114.
HPCL, Mittal Energy joint venture picks IBM solution
HMEL had earlier partnered with IBM for the design and implementation of manufacturing execution systems (MES) including the selection of select processes and applications, as well as managing the mechanics of the project. The new IBM solution integrates information from the various components of the MES, enterprise resource planning (ERP), and control systems within the refinery and delivers a consolidated, single view of the data.
The technology will enable HMEL to analyse key corporate business processes including planned versus actual investments, production, key performance indicators, among others. The system will generate near real-time information for HMEL business executives to make more intelligent decisions around optimising productivity and margins. HMEL has built the 9 MMTPA (million metric tonne per annum) Guru Gobind Singh Refinery in Bathinda, Punjab that has a capability of processing 180,000 barrels of crude oil per day.
The IBM analytics solution also equips the organisation with power to interpret, transform and derive process operation actions from the information. It provides an industry standards based information model and associated integration techniques, enabling HMEL to turn data into information that can be accessed and delivered through Web services.
"As a greenfield project, we wanted to leverage the best of technology to ensure world-class operations and efficiency. We needed a solution that would provide us with a centralised view of all our assets for operational management purposes," said Moiz Tankiwala, Chief Operating Officer, HMEL.
IBM has been working alongside HMEL as part of Project Prism, the umbrella programme to implement strategic applications for HMEL, to support the ERP system, manage master data (MDM), build key performance indicator (KPI) dashboards, and create an integration business application environment. The Cognos Business Intelligence solution helps HMEL in building an enterprise-class Performance Management platform closely aligned with their existing technical architecture.
Vanitha Narayanan, Managing Partner, Global Business Services, IBM India/South Asia said: “Amidst complex processes, like in a refinery, use of analytics can transform financial processes and improve operational efficiencies.”
GRI A+ rating for RIL's Corporate Sustainability Report
The statement also said, "RIL has received the coveted rating this year for its report titled 'Partnering India's New Future Sustainably. The company adheres to all sustainability reporting guidelines and allocates sufficient resources towards its environmental stewardship, product responsibility and social institution building efforts."
The report was presented to GRI, Amsterdam, the Netherlands for application level check, as per the New GRI 3.1 Guidelines. RIL's report also takes into account guidelines laid down by the American Petroleum Institute and the International Petroleum Industry Environmental Conservation Association.
The report is also aligned with the National Voluntary Guidelines for Social, Environmental and Economic Responsibilities of Business, released by the Ministry of Corporate Affairs, Government of India, in November 2011.
The Global Reporting Initiative (GRI) is a non-profit organization that promotes economic, environmental and social sustainability. GRI provides all companies and organizations with a comprehensive sustainability reporting framework that is widely used around the world.
IRDA unveils reforms, okays demat policies
IRDA chairman J Harinarayan announced on Monday the draft investment guidelines that allow insurance companies to buy credit protection through derivatives, lend up to 10% of their shares and carry out short-term repo transaction in bonds. The regulator is also set to ease investment limits that will give Life Insurance Corporation of India more leeway to invest in companies.
Speaking at the sidelines of the 15th insurance summit organized by the Confederation of Indian Industry, Harinarayan said dematerialized life insurance policies will soon become a reality with the insurance regulator set to grant certificate of registration to five entities for setting up insurance repositories. Demat policies will enable consumers to get their policies serviced anywhere and, more importantly, allow a one-time 'know your customer' process that will be valid for all insurance purchases across companies.
The six companies that have received IRDA approval for setting up insurance repositories are: NSDL, CDSL, Karvy, CAMS and STCI. According to Cams Repository Services CEO S V Ramanan, demat policies will benefit policyholders as they will not have to worry about losing the document which has to be preserved for 20-30 years and it will also do away with the need to transfer their policies if they shift their home. Repository services will also conduct basic policy servicing on behalf of insurance companies.
Harinarayan said that the regulator will also come out with a whistleblower policy on the lines of Reserve Bank of India. Addressing the insurance summit, Harinarayan flagged off the absence of annuities in the product portfolio of private companies , high level of attrition among insurance employees, and the complex languages in insurance contracts as a matter of concern.
Indo-Swiss trade expands from US$7.03 bn in 2005-06 to US$15.3 bn in 2009-10, more than doubling in 5 years
Despite the global economic slowdown, Indo-Swiss trade graph has been looking upwards. The two-way trade expanded from US$7.03 billion in 2005-06 to US$15.3 billion in 2009-10, that is, more than doubling in 5 years.
This was stated by Dr Linus von Castelmur, ambassador of Switzerland to India and Bhutan, at an interactive session fielded by the CII recently in Kolkata.
"Switzerland is taking an initiative to organise a CEOs conclave in September this year in Kolkata. This would indeed provide a strong, innovative platform to chalk out mutually beneficial trade strategies," he said.
"Swiss companies have been actively participating in providing modern technologies and high tech products to various industrial sectors in India for a long time. This is evident from the fact that now nearly 170 Swiss companies have their joint ventures or subsidiaries in India. Business collaboration between Swiss and Indian companies has been growing robustly for a long time.
Some of the main items of Indian exports to Switzerland are textiles and garments, organic chemicals, precious stones and jewellery, dyestuffs, machinery and parts and leather products. India's imports from the Swiss consist of machinery and equipment (electrical and mechanical), precision instruments, pharmaceutical products, dyes and chemicals, fertilizers, watches among other products," he added.
Dr Castelmur recalled that the emergence of friendship between India and Switzerland formally started with the Treaty of Friendship and Establishment of 1948 and was strengthened in various fields such as development, economy, and culture. The exchanges between the two countries have since increased manifold.
He ended by saying, "This is the opportune moment to capture the untapped opportunities lying ahead of the two countries
This was stated by Dr Linus von Castelmur, ambassador of Switzerland to India and Bhutan, at an interactive session fielded by the CII recently in Kolkata.
"Switzerland is taking an initiative to organise a CEOs conclave in September this year in Kolkata. This would indeed provide a strong, innovative platform to chalk out mutually beneficial trade strategies," he said.
"Swiss companies have been actively participating in providing modern technologies and high tech products to various industrial sectors in India for a long time. This is evident from the fact that now nearly 170 Swiss companies have their joint ventures or subsidiaries in India. Business collaboration between Swiss and Indian companies has been growing robustly for a long time.
Some of the main items of Indian exports to Switzerland are textiles and garments, organic chemicals, precious stones and jewellery, dyestuffs, machinery and parts and leather products. India's imports from the Swiss consist of machinery and equipment (electrical and mechanical), precision instruments, pharmaceutical products, dyes and chemicals, fertilizers, watches among other products," he added.
Dr Castelmur recalled that the emergence of friendship between India and Switzerland formally started with the Treaty of Friendship and Establishment of 1948 and was strengthened in various fields such as development, economy, and culture. The exchanges between the two countries have since increased manifold.
He ended by saying, "This is the opportune moment to capture the untapped opportunities lying ahead of the two countries
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