Category Archives: Business & Economy

Harlan Opens Hyderabad Hub

Business & Economy, Science & Technology, World Opinion

United States

Indianapolis, Ind.-based Harlan Laboratories, a contract research organization and provider of animals for testing, has announced its first research breeding facility in India in Hyderabad’s Genome Valley Alexandria Technology Park.

“Harlan supplies research models to more than 60 percent of the Indian research market and has a large concentration of customers in the Hyderabad-Bangalore region,” said Harlan global VP of business development Stuart Frith. Added VP of global commercial operations Joe Meyer, “Having a physical presence in the region will yield numerous benefits to our customers, including having access to a consistent supply of high-quality models and improved animal welfare.”

source: http://www.indiawest.com / IndiaWest / Home> News> Business> United States / by Richard Springer, Staff Reporter / February 02nd, 2014

Acres of Land Turns into Fish Ponds in Krishna District

Business & Economy

While the shrimp farming is shirking, fish farming is on the rise for the past three years in Krishna district.  Thousands of acres of paddy fields are turning into fish ponds in the delta region, especially the mandals located on the border of West Godavari district.

According to estimates, fish farming is being taken up in more than one lakh acres while the shrimp and prawn farming is limited to a mere 5,000 to 7,000 acres.

The officials records say that fish farming is done in 75,000 acres and shrimp farming in 5,000 acres.

It may be recalled that shrimp and prawn culture began way back in 1980 as the farmers preferred aquaculture to agriculture. They reaped huge profits in ‘dollars’ during 1999-2000.

As their fellow farmers made sudden fortune, several other farmers who were into agriculture also shifted to aquaculture and shrimp and prawn culture has leaped to nearly one lakh acres from 30,000 acres in 1999.

But they suffered a major loss as the tiger shrimp variety suffered virus attack in the following years and exports had fallen drastically.

At last, shrimp farming is being done in only 5,000 acres, and the farmers are also going for vannamei shrimp variety as it can survive the virus comparing to tiger variety. But the shrimp farmers have turned to fish cultivation instead of the shrimp as they had ready to use ponds.

According to a farmer, the fish cultivators, majority of them businessmen and local politicians, are now paying `50,000 to 75,000 rent for an acre of fish tank per year in the district and are getting `60,000 to `70,000 profit per year.

Bhupathi Raju, an aqua farmer from Nidamarru village of Kruthivennu mandal, said, “I had first taken up shrimp farming in 1982 and got good profits in the initial years. But later I had to suffer losses due to various reasons including virus attack. Slowly, I stopped it and started agriculture (paddy cultivation). But I started fish farming two years back as there was no water for paddy cultivation for Rabi crop for the past two years due to delta modernisation works.”

Another farmer, MV Subba Rao of Matlam village, who too suffered losses in shrimp farming, said that he had given his land for lease and added that he had applied for the registration of the fish ponds as the government had made it compulsory.

When contacted, assistant director of fisheries department, T Kalyanam, said, that as many as 4,989 farmers registered their tanks  by June 6, 2013. He also said that it was mandatory for the farmers to register their tanks with the government.

source: http://www.newindianexpress.com / The New Indian Express / Home> States> Andhra Pradesh / by Express News Service – Vijayawada / February 03rd, 2014

Sembcorp To Buy 45% Stake In NCC-Gayatri Power Plant Project

Business & Economy, Science & Technology, World Opinion

Singapore-based energy, water and marine group Sembcorp Industries has signed a conditional agreement to acquire 45 percent stake in NCC Power Projects (NCCPP), which is currently building a 1,320-megawatt coal-fired power plant in Andhra Pradesh for a consideration of Rs.848 crore, reports said.

NCCPP is jointly owned by Gayatri Energy Ventures Ltd. (GEVPL) and NCC Infrastructure Holdings Ltd. (NCCIHL), a subsidiary of Indian conglomerate, NCC Ltd. (NCCL). Gayatri is Sembcorp’s project partner for another power plant in Nellore district of Andhra Pradesh.

Sembcorp Group President and CEO Tang Kin Fei said, “With our first power project in India progressing well and on track for completion this year, we are now pleased to embark on our second power plant investment there. This acquisition will provide the opportunity for Sembcorp to increase our foothold in India’s power market, where we see opportunities for our business to grow significantly in the years to come.”

Once the deal materializes, Sembcorp will hold 45 percent of NCCPP, while the remaining 55 percent will be held by NCCIHL.

NCCPP’s upcoming plant is located on a site adjacent to Thermal Powertech Corporation India Ltd. (TPCIL), Sembcorp’s first power plant investment in India.

Presently, the NCCPP project is around 30 percent completed and it is expected to come on-stream in early 2016. 

The project has also achieved financial closure, with 75 percent of the project cost funded through long-term limited recourse rupee-denominated project finance loans and the remainder funded by shareholders’ equity.

The project will be fuelled by both domestic and imported coal. It already received a Letter of Allocation for its domestic coal supply from Coal India.

The transaction is subject to the fulfilment of conditions, including approvals from the relevant authorities and the lenders.

Additional conditional agreements would also be entered into giving Sembcorp the right and obligation to take an incremental 20 percent stake in NCCPP and an incremental 16 percent stake in TPCIL respectively, subject to and upon the respective projects having obtained requisite formal approvals by relevant authorities in India.

by RTT Staff Writer

source: http://www.rttnews.com / RTT News / Home> Business> Indian News / February 03rd, 2014

Find Your Varsity

Business & Economy, Education

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It’s February already and students in their twelfth grade will be going through the trying time of preparing for their finals while also short-listing courses and colleges that they would like to apply for their undergraduation. A very difficult time for many, in a lot of cases, both schools and parents can sometime fall short in guiding the child towards what suits them best. This is where a little extra help could make all the difference. And this is where Univariety hopes to make that difference.

A higher education planner service that was started in the city about two years ago by two former college-mates, Univariety helps students through the process of finding a course, either in India or abroad, and also walks them through the process of admission, scholarships and so on.

Operating in cities like Delhi, Chennai, Bengaluru and Mumbai, the consultancy has partnered with over 150 schools and 40 universities across the country and globe, and have so far, guided 15,000 students of class 11 and 12 to befitting courses and careers through scholarship-aided programmes.

‘’These days, we see more boys showing interest in different fields of engineering like bio-medical, animation-based, robotics, aerospace, film making, etc and girls are showing keen interest in mass communication, fashion designing, bio-medical engineering and statistics. These are their preferred career choices,” shares Varun Agarwal, MD of Univariety.

Varun, along with and Jaideep Gupta, has been working towards giving information and supporting children who have aspired for a course that fits them as snug as a glove.

“Both of us wanted to be entrepreneurs. If someone had talked to us or helped us in our school days, we could have become entrepreneurs a decade or more earlier,” explains Varun.

The two friends and budding entrepreneurs, teamed up together after working extensively in the field of education across the globe, to fulfill their dreams of starting a venture. And so, it was the same helping hand they wished they had that they hope to extend to students today.

Despite not being from the city, the duo chose to base their operations in Hyderabad due to the large number of quality schools and a high number of students aspiring to go abroad for higher studies. This includes 12 major schools like Oakridge International, Gitanjali schools, Hyderabad Public School, Chirec International School, Meridian International School, Delhi Public School-Hyderabad, etc.

According to them, though a degree in engineering or business management has been the traditional choice of higher education for most, or a foreign degree in the same field especially for those from the state, there has been a 20 per cent dip in the preference for traditional forms of engineering, changing the scenario of higher education.

However, at the same time, Varun points out that students today make their choices in isolation and with imperfect, and sometime incorrect information, guided by friends, parents and other influencers who themselves are not fully informed. “We wanted to help them, and their need for help is global. We did not want to be counsellors, we wanted to offer solutions and change the way teachers stress on the need for good percentages for a better future.”

Through partner schools, students can create their profiles on the Univariety portal and find guidance based on their preferences for preparation of various tests and choose suitable training institutes. They also helps students shortlist and apply to an ideal list of universities and avail best fit scholarships too. Per school, Univariety charges anywhere between`25,000 and `5 lakh, which would entail students of class 11 and 12 of that school to avail their services. Students can also avail personalised features to help them get individual help through the entire process of college admission. This could cost about `35,000 – `50,000 for each student.

‘’There are usually two types of students — one who is clear about what he wants and one who doesn’t. Our online tools will find them solutions up to 60 per cent. If they are still not happy, we have our counsellors who go to the schools to talk to them. Every reputed college is there on our list and now and we are extending the services to class 9 and 10 students from May; this we have already extended to schools in the Middle East,” he shares.

So, if you’ve been spending the better part of your time biting your nails in frustration instead of studying, here’s one way to sort some of the college-related anxiety. You can log onto www.univariety.com for more information or email them at guideme@univariety.com.

source: http://www.newindianexpress.com / The New Indian Express / Home> Cities> Hyderabad / by Rahul V Pisharody – Hyderabad / February 04th, 2014

Jindal Steel and Power acquires Andhra-based Kineta Power

Business & Economy, Science & Technology

New Delhi :

Jindal Steel and Power (JSPL) has acquired 100 per cent stake in Kineta Power, a privately-owned coal-based 1,980 MW power plant in Nellore district of Andhra Pradesh, for an undisclosed sum.

Confirming the deal, JSPL’s Managing Director and CEO Ravi Uppal  told that the deal was signed 3-4 months ago. It has all statutory clearances, he added.

“Kineta project we have acquired. We wanted to come to Andhra Pradesh, that’s why we acquired that site. That is a good site, 8 kms from the sea coastline. It is a virgin site with environment clearance, land title clear,” he said.

When asked about the details, he said the acquisition was done “about 3-4 months ago. It has clear titles, boundary walls, all statutory clearances are there. The capacity will be between 3 units of 660 MW or 2 units of 800 MW”.

However, the company will not be moving ahead with project construction at the moment due to low power demand and “unless some reforms take place in the sector”, he said.

Uppal, however, did not disclose the deal value.

Industry insiders said the deal would be executed in phases and the project cost would be around Rs 10,000 crore.

They further said that JSPL  acquired Kineta Power through Jindal Power and the share purchase agreement was signed with Bangalore-based Kineta Mines and Minerals –the original promoters of the project– on September 4 last year.

JSPL has plans to run the plant on imported coal, they said, adding that the company is currently doing detailed engineering and planning of the project. The company will import coal from its mines in Indonesia and would blend it with the thermal coal produced at its mines in Mozambique .

Terming the deal a very good buy for JSPL, industry insiders said that the project has most of the statutory clearances, including environment and defence.

It also has the locational advantage of having railway station, national highway and Krishnapattnam port in the nearby areas and the deal would increase JSPL’s presence in the power-starved Southern India, they said.

Kineta Power was originally promoted by Kineta Minerals and Metals Ltd. The company, headed by V BalaShowry, is primarily engaged in export of iron ore and suppliers of burnt lime, limestone and dolomite etc.

According to the website of Kineta Power, the project’s envisaged capacity is 1980 MW and has been divided into 2 stages. Based on super critical technology, the first stage of the project will have 2 units of 660 MW and second stage would have one unit of 660 MW.

The project has about 1,200 acres of land, of which nearly 840 acres have been acquired through Andhra Pradesh Industrial Infrastructure Corporation Ltd.

The Naveen Jindal-led JSPL at present has over 3,000 MW power production capacity and is executing coal-baed projects over 2,000 MW capacity. It also has plans to set up 6,100-MW hydro power generation capacity.

source: http://www.articles.timesofindia.indiatimes.com / The Economic Times / Home> News> News By Industry> Int’l Goods/ Svs> Jindal Power / by PTI / February 02nd, 2014

Soha Ali Khan at achievers award organised by Assocham Ladies League in Hyderabad

Arts, Culture & Entertainment, Business & Economy, Records, All

It was an evening to rejoice and celebrate with the winners of Hyderabad Women of the Decade Achievers Awards organised by Assocham Ladies League recently.

Chief minister Kiran Kumar Reddy was the chief guest of the evening and was seen mingling with the guests and winners.

SohaAliKhanMPos17feb2014

Bollywood actress Soha Ali Khan , who graced the do, was given a special award. Musician-singer Dina Fanai  from New York made the evening memorable by crooning beautiful numbers.

Also spotted was tennis ace Sania Mirza , actress Sharada, Sangita Reddy, Geeta Reddy, and Seema Kumar among others.

source: http://www.timesofindia.indiatimes.com / The Times of India / Home> City> Hyderabad / TNN / February 01st, 2014

121 RTC Drivers Receive Awards for Maintaining Healthy KMPL

Business & Economy, Green Initiatives / Environment, Records, All, Science & Technology
K Buchaiah of Parigi depot, who received best KMPL award, poses with family at APSRTC Kalabhavan in Hyderabad on Friday | A RADHAKRISHNA
K Buchaiah of Parigi depot, who received best KMPL award, poses with family at APSRTC Kalabhavan in Hyderabad on Friday | A RADHAKRISHNA

Recognising the drivers of APSRTC who contributed to conservation of fuel by maintaining a healthy Kilometer Per Litre (KMPL) rate, awards were presented to drivers from various zones of the state on Friday.

A total of 121 best drivers, five from each region with maximum saving of HSD Oil/CNG during 2012-13 were presented with a memento and a certificate of merit at ‘Best KMPL Awards Function’ organised by Hindustan Petroleum Corporation Limited at APSRTC Kala Bhavan. Drivers who maintained more than 6.00 KMPL of oil were felicitated. Apart from them, mechanics and other staff were also presented with awards on the occasion.

To encourage employees to save fuel, cash incentives are given on monthly basis. Besides this, training is also given to the drivers using simulation fuel conservation machine by safety driving inspectors at all depots who explain how much fuel will be wasted because of faulty driving practices. ‘’By following the instructions, a driver can save around 5 out of 30 litres of fuel easily. This training is given to around 15 drivers in a day,” said a safety driving inspector.

Transport minister Botcha Satyanarayana, chief guest of the event, who presented mementos to the drivers suggested that in the future such functions need to be held at zonal level rather than at Hyderabad alone so that other APSRTC personnel will understand the importance of fuel conservation.

He added that in the last year, two protests took place in Telangana and Seemandhra region. ‘’Whenever people talk about protests, they point out the losses. However during the period of protests, people opt for alternative transport services. So after protests end, it takes around five months to retain the occupancy rate. This situation affects employees also,” said Botcha and added that there is a necessity for employees to fullfil their duties. ‘’There is a need to protect the corporation, even government will do its share,” he said.

source: http://www.newindianexpress.com / The New Indian Express / Home> Cities> Hyderabad / by Express News Service – Hyderabad / February 01st, 2014

Satya Nadella: 8 things you should know

Business & Economy, Leaders, Nri's / Pio's, Science & Technology, World Opinion

New Delhi :

Technology giant Microsoft is reportedly all set to to name India-born top executive Satya Nadella as new chief executive officer, capping the five-month search for present CEO Steve Ballmer’s replacement. Given below are some interesting facts you should know about Satya Nadella:

(Microsoft is likely to name…)
(Microsoft is likely to name…)

1. Hyderabad-born Satya Nadella, 47, attended Hyderabad Public School in Begumpet before getting a Bachelor of Engineering in Electronics and Communication from the Manipal University.

2. After moving to the US, Nadella earned Master of Science degree in Computer Science from the University of Wisconsin, Milwaukee. He also completed Master of Business Administration from the University of Chicago.

3. Nadella has been with Microsoft since 1992. During his long tenure with the company, he also held a key responsibility at Bing, and although Bing has never been Microsoft’s crown jewel, Nadella helped it grow.

4. Nadella has played a key role in bringing some of Microsoft’s most popular technologies, like its database, Windows server and developer tools, to the cloud, called Azure.

5. Nadella also helped Microsoft bring a cloud version of Microsoft Office to the cloud, Office 365. Microsoft says Office 365 one of its fastest growing products ever.

6. Prior to Microsoft, Nadella worked at Sun Microsystems, now owned by Oracle.

7. Nadella, if he emerges as the chosen one, would be only the third CEO in Microsoft’s 38-year history after Bill Gates and Steve Ballmer.

8. The appointment would be a significant achievement for Nadella, who would join a proud circle of India-origin executives helming top global companies.

(With inputs from IANS, PTI)

source: http://www.articles.timesofindia.indiatimes.com / The Times of India / Home> Tech> Tech News> Computer Science / TNN / January 31st, 2014

Suven Life Sciences secures 3 patents

Business & Economy, Records, All, Science & Technology, World Opinion

Patents for treatments associated with neurodegenerative diseases, valid through 2025.

Hyderabad-based biopharmaceutical company Suven Life Sciences (Suven) said it has secured three product patents, one each from Canada, China and India. The patents correspond to the new chemical entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases. These patents are valid through 2025.

The patents include the class of selective 5-HT compounds discovered by Suven, which are being developed as therapeutic agents. These are useful in the treatment of cognitive impairment associated with neurodegenerative disorders like Alzheimer’s disease, Attention deficient hyperactivity disorder (ADHD), Huntington’s disease, Parkinson and Schizophrenia.

With these new patents, Suven has a total of 14 granted patents from Canada, 12 patents from China and 17 from India.

“We are very pleased by the grant of these patents to Suven for our pipeline of molecules in CNS arena that are being developed for cognitive disorders with high unmet medical need and with huge market potential globally” chief executive officer, Venkat Jasti, said in a press release on Friday.

source: http://www.business-standard.com / Business Standard / Home> Companies> News / by Prashanth Chintala / Hyderabad – January 31st, 2014

India’s largest cold storage firm, Gubba, hosts frozen food conference

Business & Economy, Records, All, Science & Technology

Gubba Cold Storage (Andhra Pradesh’s first cold storage company, which was founded by Gubba Nagender Rao) hosted a conference for the frozen food industry recently. Its topic was ‘The Exciting Future of the Frozen Food Industry’. It holds the Limca record for being India’s largest cold storage company (with a capacity of 83,00,000 cubic feet, thanks to Nagender Rao’s successors, Gubba Kiran and Gubba Prashant).

Dodla Dairy’s Sunil Reddy unveiled the record at the event, which was attended by Alfa Laval’s Razween Ahmed; Frick’s Sudhir P; lean management expert Ganesh; Emerson’s Chetan Shetty; Food Cert’s Sri Hari Kotela; Dr Kulkarni and Scoops Ice Creams’ Sudhir Shah, and focussed on the current scenario of the industry, the challenges faced by it and the role of technology.

Gubba is working on an innovation in refrigeration technology with Eesavasya Technology (which was unveiled at the event by Dr Feroz). Dr Kulkarni unveiled the latest issue of the Gubba Frozen News, the company’s news magazine which has a print version (managed by Gubba Rajyalakshmi) and an electronic version (managed by Gubba Deepthi).

source: http://www.fnbnews.com / FnBnews.com / Home> Top News / by FnBnews Bureau, Mumbai / Friday – January 31st, 2014