Chennai: The Shiv Nadar University has tied up with Duke University of North Carolina to collaborate in research, teaching and student and faculty exchange programmes.
The alliance envisages bringing in Duke’s expertise up to the school level in identifying talent and upgrading education systems.
A press release from Shiv Nadar University based in Noida said the alliance will pave the way for the two institutions to partner in academic programmes and experiential learning opportunities for the faculty and students. They will also work under the aegis of Duke’s Talent Identification Program (TIP) to develop educational activities for students in India.
Duke University will assist SNU in institutional development including supporting curricula development; faculty recruitment and development; identifying and implementing best practices in university administration and other forms of institutional development.
A core team comprising key people from both universities will support the initiatives and assist in the development and implementation.
Established in 1980, Duke’s TIP provides resources for gifted elementary, middle and high school students, their parents, educators, and schools for the development of students’ optimal educational potential. The alliance will provide assistance to the SNU School of Education to help develop curriculum for the programme.
Duke TIP’s first collaborative program with SNU will take place this February , when the two organisations will co-host a conference for Indian educators to share best practices to identify, plan curriculum for, and evaluate the learning of gifted students.
Success in my Habit
Thursday, December 6, 2012
Piramal arm acquires market analytics firm in UK
Mumbai: Piramal Enterprises has acquired the UK-based market analytics company Abacus International, giving it access to the European markets.
The deal comes about six months after Piramal Enterprises had acquired Massachusetts-based market analytics company Decision Resources Group (DRG) for Rs 3,400 crore.
In fact, the latest acquisition of 17-year-old Abacus is through DRG, now a Piramal Enterprises subsidiary, the company said, without disclosing financial details of the transaction.
It is a small transaction, a company official said, adding that it would be financed through internal resources and local debt.
The value of the deal is the access DRG (and Piramal) get to European markets.
Abacus International develops evidence-based global market access solutions for several global healthcare companies.
It will be part of the Market Access Business Unit at DRG that currently includes the brands: Fingertip Formulary, HealthLeaders-InterStudy, PharmaStrat and Pinsonault, a Piramal note said. Abacus differentiates itself by offering integrated market access solutions across the entire product lifecycle from payer strategy, through technical disciplines such as modelling and systematic review to value communications and health technology assessment.
An in-house multimedia team enables Abacus to differentiate their service offering using innovative software solutions including Web, mobile and iPad® applications.
The acquisition is part of DRG’s overall strategy to acquire and/or build leading brands that can leverage each other’s thought leadership to create products and services for the healthcare industry.
Abacus International will remain headquartered in Bicester, England, the note added.
Results Healthcare, a division of Results International, acted as advisors to Abacus International.
The deal comes about six months after Piramal Enterprises had acquired Massachusetts-based market analytics company Decision Resources Group (DRG) for Rs 3,400 crore.
In fact, the latest acquisition of 17-year-old Abacus is through DRG, now a Piramal Enterprises subsidiary, the company said, without disclosing financial details of the transaction.
It is a small transaction, a company official said, adding that it would be financed through internal resources and local debt.
The value of the deal is the access DRG (and Piramal) get to European markets.
Abacus International develops evidence-based global market access solutions for several global healthcare companies.
It will be part of the Market Access Business Unit at DRG that currently includes the brands: Fingertip Formulary, HealthLeaders-InterStudy, PharmaStrat and Pinsonault, a Piramal note said. Abacus differentiates itself by offering integrated market access solutions across the entire product lifecycle from payer strategy, through technical disciplines such as modelling and systematic review to value communications and health technology assessment.
An in-house multimedia team enables Abacus to differentiate their service offering using innovative software solutions including Web, mobile and iPad® applications.
The acquisition is part of DRG’s overall strategy to acquire and/or build leading brands that can leverage each other’s thought leadership to create products and services for the healthcare industry.
Abacus International will remain headquartered in Bicester, England, the note added.
Results Healthcare, a division of Results International, acted as advisors to Abacus International.
Australian Tourism Minister Calls for Direct Air Connectivity to Boost Toursim
New Delhi: The Australian Tourism Minister Mr. Martin Ferguson has called for direct air connectivity between India and Australia to boost tourism. He stated this during his discussion with Union Tourism Minister Shri K.Chiranjeevi here today. Both the Ministers also expressed their resolve to strengthen bilateral tourism cooperation. Referring to the recent road shows organized by India Tourism in Australia, Shri Chiranjeevi expressed the hope that such shows will contribute to more tourist inflow from Australia. The Minister also suggested creation of a joint Tourism forum where the Tour Operators, Hoteliers, Airlines and other tourism stakeholders form both the countries may exchange the ideas for promotion and development of tourism between both the countries. He also expressed the views that both the countries should explore the possibilities of renewing the MoU on tourism cooperation which expired in 2008.The Minister also suggested easing of visa norms to boost tourism.
India and Australia are important tourism markets for each other. Australia is one of top 10 tourist generating markets for India as far as inbound tourism is concerned. Number of Australian visited India during the last five years were :
2007 2008 2009 2010 2011
135925 146209 149074 169647 186002
India tourism Office in Sydney looks after promotion and marketing of India in Australia. Overall the marketing efforts have been directed at re-enforcing the brand and creating year round traffic. India Tourism office regularly undertake comprehensive promotion, developing partnership with airlines, the travel industry, media, community groups and Government.
Ministry of Tourism in association with Indian Association of Tour Operators organized road shows in Sydney and Melbourne in October this year. The Ministry of Tourism hosted the visit of tour operators, travel agents, opinion makers, TV team, travel writers, etc. from Australia numbering 35 in 2011-12 and 16 till date during 2012-13 on familiarisation tour of India under its hospitality scheme.
India and Australia are important tourism markets for each other. Australia is one of top 10 tourist generating markets for India as far as inbound tourism is concerned. Number of Australian visited India during the last five years were :
2007 2008 2009 2010 2011
135925 146209 149074 169647 186002
India tourism Office in Sydney looks after promotion and marketing of India in Australia. Overall the marketing efforts have been directed at re-enforcing the brand and creating year round traffic. India Tourism office regularly undertake comprehensive promotion, developing partnership with airlines, the travel industry, media, community groups and Government.
Ministry of Tourism in association with Indian Association of Tour Operators organized road shows in Sydney and Melbourne in October this year. The Ministry of Tourism hosted the visit of tour operators, travel agents, opinion makers, TV team, travel writers, etc. from Australia numbering 35 in 2011-12 and 16 till date during 2012-13 on familiarisation tour of India under its hospitality scheme.
RBI, Bank of Japan ink currency swap pact to boost bilateral trade
Mumbai: The Reserve Bank of India and Bank of Japan have concluded a three-year bilateral currency swap arrangement between the two countries.
The agreement , which was signed by the RBI Governor D. Subbarao and BoJ Governor Masaaki Shirakawa, has become effective as of December 4.
The arrangement aims at addressing short-term liquidity difficulties and supplementing the existing international financial arrangements, as one of the efforts in strengthening mutual cooperation between Japan and India.
The pact will enable both countries to swap their local currencies (i.e., either Japanese yen or Indian rupee) against US dollar for an amount up to $15 billion. In the past, both countries had a similar arrangement for an amount up to $3 billion for a period of three years from June 2008 to June 2011.
The pact will further strengthen economic and financial cooperation between the two countries and accordingly contribute to ensuring financial market stability, said an RBI statement.
The agreement , which was signed by the RBI Governor D. Subbarao and BoJ Governor Masaaki Shirakawa, has become effective as of December 4.
The arrangement aims at addressing short-term liquidity difficulties and supplementing the existing international financial arrangements, as one of the efforts in strengthening mutual cooperation between Japan and India.
The pact will enable both countries to swap their local currencies (i.e., either Japanese yen or Indian rupee) against US dollar for an amount up to $15 billion. In the past, both countries had a similar arrangement for an amount up to $3 billion for a period of three years from June 2008 to June 2011.
The pact will further strengthen economic and financial cooperation between the two countries and accordingly contribute to ensuring financial market stability, said an RBI statement.
Sunday, December 2, 2012
SpiceJet launches two new international flights from Kochi, Kerala
Kochi: SpiceJet Ltd, one of the leading low cost airlines, has announced the launch of two new international flights from Kerala.
The airline has launched daily flight from Kochi to the Maldivian capital Male from Thursday. In the second week of December the airline will introduce daily flight from Kochi to Dubai.
At present, SpiceJet is operating international flights from Delhi, Mumbai, Chennai and Madurai. Kochi has become the fifth destination in India from where the airline has started international flights. The airline has deployed the Bombardier Q400 aircraft, with a capacity of 78 passengers, in the Kochi-Male route.
The airline will soon be launching daily direct flights from Ahmedabad to Dubai. Spokesmen of SpiceJet said that Boeing 737-800 will be deployed in the Kochi to Dubai and Ahmedabad to Dubai routes.
The airline has launched daily flight from Kochi to the Maldivian capital Male from Thursday. In the second week of December the airline will introduce daily flight from Kochi to Dubai.
At present, SpiceJet is operating international flights from Delhi, Mumbai, Chennai and Madurai. Kochi has become the fifth destination in India from where the airline has started international flights. The airline has deployed the Bombardier Q400 aircraft, with a capacity of 78 passengers, in the Kochi-Male route.
The airline will soon be launching daily direct flights from Ahmedabad to Dubai. Spokesmen of SpiceJet said that Boeing 737-800 will be deployed in the Kochi to Dubai and Ahmedabad to Dubai routes.
L&T Construction wins orders worth Rs 1,178 cr
Mumbai: L&T Construction said that it has secured orders valued at over Rs 1,178 crore in November.
Its buildings and factories division has got orders worth Rs 595 crore from UAE for the construction of a hospital building and associated facilities.
In the solar division, the company has bagged engineering, procurement and construction orders worth Rs 280 crore for the construction of solar PV systems in Rajasthan.
It has also got additional orders worth Rs 303 crore from ongoing projects, mainly in airports, factories, minerals and metals, besides in power transmission and distribution.
Its buildings and factories division has got orders worth Rs 595 crore from UAE for the construction of a hospital building and associated facilities.
In the solar division, the company has bagged engineering, procurement and construction orders worth Rs 280 crore for the construction of solar PV systems in Rajasthan.
It has also got additional orders worth Rs 303 crore from ongoing projects, mainly in airports, factories, minerals and metals, besides in power transmission and distribution.
PVR to acquire 69% in Cinemax for Rs 395 cr
New Delhi: Putting an end to months of speculation, PVR Cinemas on Thursday announced that it will acquire 69.27 per cent stake in Cinemax India for Rs 395 crore.
The deal once concluded will make PVR the largest movie exhibition chain in the country.
PVR will be acquiring Cinemax promoter’s stake at Rs 203.65 a share through a wholly owned subsidiary, Cine Hospitality representing a premium of about 10 per cent on the closing price of the shares of Cinemax on the BSE on Thursday.
PVR will be also acquiring additional 26 per cent stake through an open offer from public shareholders according to SEBI takeover regulations, PVR said in a statement.
“This acquisition is a strategic move and will take our total screens to 351 across 85 locations giving us access to eight new markets.
“It will also give us leadership in 10 most significant markets across the country. Cinemax will continue to operate as a separate entity and its cinemas will not be re branded,” said Ajay Bijli, Chairman and Managing Director of PVR, hinting that Cinemax may not be delisted.
He added that the PVR sees cost benefits and synergy potential in the deal through the larger scale of operations.
“We expect to increase the tally of our screens to about 400 screens by the end of this fiscal year,” Bijli said.
Funding
The deal will be funded through a mix of debt and equity and the company’s board also approved issuing of preference shares.
The company has raised funds through current investor L Capital and a new private equity player - Multiples Alternate Asset Management. PVR has issued preferential shares of 1,06,25,205 shares at Rs 245 a share amounting to Rs 260 crore to the promoters (PVR promoters), L Capital and Multiples Alternate.
While Multiples will invest Rs 153 crore, L Capital would invest approximately Rs 82.3 crore and the promoters investment will be about Rs 25 crore into PVR Ltd, which in turn will acquire stake in Cinemax through its wholly owned subsidiary.
“Post the above dilution, both Multiples Private Equity and L Capital would own about 15.8 per cent stake each in PVR and the promoters will hold 32 per cent stake in the company,” it said.
Rasesh Kanakia, promoter of Cinemax, said the exhibition business benefits from the consolidation as large scale strengthens competitive advantage and enhances operational efficiencies.
He said the Kanakia Group will now focus on its core business of real estate and hospitality.
The deal once concluded will make PVR the largest movie exhibition chain in the country.
PVR will be acquiring Cinemax promoter’s stake at Rs 203.65 a share through a wholly owned subsidiary, Cine Hospitality representing a premium of about 10 per cent on the closing price of the shares of Cinemax on the BSE on Thursday.
PVR will be also acquiring additional 26 per cent stake through an open offer from public shareholders according to SEBI takeover regulations, PVR said in a statement.
“This acquisition is a strategic move and will take our total screens to 351 across 85 locations giving us access to eight new markets.
“It will also give us leadership in 10 most significant markets across the country. Cinemax will continue to operate as a separate entity and its cinemas will not be re branded,” said Ajay Bijli, Chairman and Managing Director of PVR, hinting that Cinemax may not be delisted.
He added that the PVR sees cost benefits and synergy potential in the deal through the larger scale of operations.
“We expect to increase the tally of our screens to about 400 screens by the end of this fiscal year,” Bijli said.
Funding
The deal will be funded through a mix of debt and equity and the company’s board also approved issuing of preference shares.
The company has raised funds through current investor L Capital and a new private equity player - Multiples Alternate Asset Management. PVR has issued preferential shares of 1,06,25,205 shares at Rs 245 a share amounting to Rs 260 crore to the promoters (PVR promoters), L Capital and Multiples Alternate.
While Multiples will invest Rs 153 crore, L Capital would invest approximately Rs 82.3 crore and the promoters investment will be about Rs 25 crore into PVR Ltd, which in turn will acquire stake in Cinemax through its wholly owned subsidiary.
“Post the above dilution, both Multiples Private Equity and L Capital would own about 15.8 per cent stake each in PVR and the promoters will hold 32 per cent stake in the company,” it said.
Rasesh Kanakia, promoter of Cinemax, said the exhibition business benefits from the consolidation as large scale strengthens competitive advantage and enhances operational efficiencies.
He said the Kanakia Group will now focus on its core business of real estate and hospitality.
Onco Therapies gets ANDA approval for Ifosfamide injection
Bengaluru: Onco Therapies Ltd, a wholly owned subsidiary of Strides Arcolab Ltd (Strides), has received Abbreviated New Drug Application (ANDA) approval for Ifosfamide injection 50 mg/ml packaged in one gram/20 ml and three grams/60 ml single-dose vials.
Ifosfamide is a part of the onncology portfolio licensed to Pfizer for the US market and the product is available for immediate launch.
As per IMS data, the US market for generic Ifosfamide is about $15 million.
Ifosfamide is a chemotherapy drug that is usually used to treat sarcoma, testicular cancer and some types of lymphomas.
Ifosfamide is a part of the onncology portfolio licensed to Pfizer for the US market and the product is available for immediate launch.
As per IMS data, the US market for generic Ifosfamide is about $15 million.
Ifosfamide is a chemotherapy drug that is usually used to treat sarcoma, testicular cancer and some types of lymphomas.
Investment by Foreign Companies in SME
New Delhi: To promote capital investment by foreign multinational companies in small and medium enterprises the Foreign Direct Investment (FDI) in micro and small enterprises (MSEs) has been raised to 100 percent from 24 per cent. However, FDI in MSMEs is subject to sectoral caps and other relevant sectoral regulations.
Enhanced capital investment by foreign multinational companies will create an environment of healthy competition among MSMEs whether financed by foreign investment or otherwise, resulting in availability of better products for consumers.
This information was given by the Minister of State (Independent Charge) for Micro, Small and Medium Enterprises, Shri K. H. Muniyappa in a written reply to a question in the Lok Sabha today.
Enhanced capital investment by foreign multinational companies will create an environment of healthy competition among MSMEs whether financed by foreign investment or otherwise, resulting in availability of better products for consumers.
This information was given by the Minister of State (Independent Charge) for Micro, Small and Medium Enterprises, Shri K. H. Muniyappa in a written reply to a question in the Lok Sabha today.
Thursday, November 29, 2012
Honda Car India to set up greenfield diesel engine factory in Rajasthan
New Delhi: Honda Car India, the wholly-owned subsidiary of Honda Motor Co. of Japan will set up a greenfield diesel engine factory at its second industrial location in Rajasthan that have largely remained unutilised over the past five years.
The Indian subsidiary will debut Honda's first global compact car in diesel in 2013 fired by the locally-manufactured engines.
This sub-four metre sedan, Amaze, based on its Brio hatchback model - Honda's strategic model for Asia - would have a 1.5-litre i-DTEC diesel based on its 'Earth Dreams' diesel technology.
Honda Car's senior V-P (sales & marketing) Jnaneswar Sen confirmed the corporate plans for a new diesel engine plant exclusively for the Indian market.
"We plan to launch the diesel car at a very aggressive price that would require high level of localisation in the Indian market. We have finalised plans to set up a diesel engine plant at Tapukara in Rajasthan by next year but the finer details regarding capacity and investments are yet to be worked out," he said.
The company would start assembling a 1.5-litre diesel engine by early next year that would initially debut in the Amaze sedan which would compete with Maruti topseller Dzire & Tata Motors' Indigo.
The same engines would also come in Honda's other cars like the new Jazz and the new City sedan that would roll out some time in 2014 for the Indian market.
"The diesel engine would not power any of the existing compact cars like the current models of Brio, Jazz and the City sedan. We will have this diesel technology reserved only for the new cars that would be introduced over the next 2-3 years," Sen added.
According to three different component manufacturers, Honda plans to introduce Amaze in the price range of 5-8 lakh by increasing cost competitiveness through local sourcing and production. "We have been working with Honda to develop components for its new diesel engine.
The component supplies for making these engines would resume early next year as the car (Amaze) is expected to debut in mid-2013," said a Delhi-based auto component maker.
According to company sources, Honda would also supply some of the engine components from the Rajasthan plant to its UK subsidiary. It already makes higher configuration diesel engines in the UK, which are strapped to its popular cars like the Accord and the CR-V sporty utility vehicle.
However, the diesel engine would not be fitted in Accord and CR-V models in India. Amaze, the entry-level sedan, would also be rolled out in a 1.2-litre petrol engine that currently powers its Jazz and the Brio hatchback.
The Indian subsidiary will debut Honda's first global compact car in diesel in 2013 fired by the locally-manufactured engines.
This sub-four metre sedan, Amaze, based on its Brio hatchback model - Honda's strategic model for Asia - would have a 1.5-litre i-DTEC diesel based on its 'Earth Dreams' diesel technology.
Honda Car's senior V-P (sales & marketing) Jnaneswar Sen confirmed the corporate plans for a new diesel engine plant exclusively for the Indian market.
"We plan to launch the diesel car at a very aggressive price that would require high level of localisation in the Indian market. We have finalised plans to set up a diesel engine plant at Tapukara in Rajasthan by next year but the finer details regarding capacity and investments are yet to be worked out," he said.
The company would start assembling a 1.5-litre diesel engine by early next year that would initially debut in the Amaze sedan which would compete with Maruti topseller Dzire & Tata Motors' Indigo.
The same engines would also come in Honda's other cars like the new Jazz and the new City sedan that would roll out some time in 2014 for the Indian market.
"The diesel engine would not power any of the existing compact cars like the current models of Brio, Jazz and the City sedan. We will have this diesel technology reserved only for the new cars that would be introduced over the next 2-3 years," Sen added.
According to three different component manufacturers, Honda plans to introduce Amaze in the price range of 5-8 lakh by increasing cost competitiveness through local sourcing and production. "We have been working with Honda to develop components for its new diesel engine.
The component supplies for making these engines would resume early next year as the car (Amaze) is expected to debut in mid-2013," said a Delhi-based auto component maker.
According to company sources, Honda would also supply some of the engine components from the Rajasthan plant to its UK subsidiary. It already makes higher configuration diesel engines in the UK, which are strapped to its popular cars like the Accord and the CR-V sporty utility vehicle.
However, the diesel engine would not be fitted in Accord and CR-V models in India. Amaze, the entry-level sedan, would also be rolled out in a 1.2-litre petrol engine that currently powers its Jazz and the Brio hatchback.
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