Category Archives: Business & Economy

Major food processing conference in Hyderabad in November

Business & Economy

FoodProcessingHF03sept2013

The food processing industry contributes three to five per cent more to the country’s gross domestic product than agriculture. Its growth rate is also faster. Improvements in this sector will not only increase its growth opportunities but will also contribute to strengthening food security and lowering food inflation. With this in mind, a major agribusiness and food processing conference, called Food 360 degrees, is being organised in Hyderabad on November 6 and 7. It focuses on leveraging the next wave of opportunities in the food services and food processing sectors.

S Sivakumar, Programme Chair – Food 360 degrees and the group head – Agri and IT businesses at ITC, added that one of the key problems the food processing industry could help solve is reducing agriculture wastage.

The current estimate of fixed assets investments (of capital assets) in the food processing industry is around Rs 150,000 crore. Sivakumar noted that this had a multiplier effect on employment as it provided to 10 million jobs in the food processing and agri-services sector. The industry could play a crucial role in ensuring job-led growth in the economy.

The conference, along with an exhibition, is being organised by the Federation of Indian Chambers of Commerce and Industry (FICCI), in partnership with the government of Andhra Pradesh, consultancy firm KPMG and the International Crops Research Institute for Semi-Arid Topics (ICRISAT).

Another conference, the World Agricultural Forum (WAF) Congress with its agri-tech fair is also scheduled in Hyderabad from November 4 to 7. The event is being held for the first time in Asia since the WAF was set up in 1997. Its theme is that of re-shaping agriculture for a sustainable future with special focus on small farmholders. Sivakumar said Food 360 was being held around the same time to have a multiplier effect. It will focus on the next wave of opportunities in food services and the food processing sector.

There are also opportunities emerging in the export market which the conference could discuss. Sivakumar said agri and food product annual exports from India were more than $36 billion or 12 per cent of India’s total exports.

The Food 360 conference, which 600 delegates are expected to attend, apart from other international delegates and some from the WAF event who might also lend their presence, will discuss mega trends in this sector such as changing consumer preferences, technological developments, sustainability imperatives and the policy environment. J. A. Chowdary, Co-chairman, FICCI (Andhra Pradesh) and Conference Chair of Food 360, says a new ecosystem is emerging with lot of interests being evinced by venture capitalists and private equity investors in the food processing and agri-processing sector.

source: http://www.businesstoday.intoday.in / Business Today / Home> Biz Wrap> Corporate> Story / by  E Kumar Sharma / August 19th, 2013

Coromandel gets first consignment of phosphoric acid from Tunisia

Business & Economy, Science & Technology, World Opinion

The first consignment of  phosphoric acid  from  Tunisian Indian Fertilisers  (Tifert), a Tunisia-based venture of Coromandel International Limited (CIL), has arrived at Kakinada , where CIL’s complex fertilisers plant is located.

The Tifert vessel, which left La Skhira Port in Tunisia about a fortnight ago with 31,269 tonnes of phosphoric acid, arrived at Kakinada Port and delivered the CIL’s share of 12,498 tonnes.

It will leave on Thursday for Sikka Port on the west coast to deliver the remaining part of about 18,771 tonnes to Gujarat State Fertilisers and Chemicals Limited (GSFC), the other Indian shareholder of Tifert. Phosphoric acid is a key raw material used in the manufacture of various grades of fertiliser.

Tifert, set up in La Skhira in Tunisia by CIL and GSFC, the partners from India and Groupe Chimique Tunisien (GCT) and Compagnie Des Phosphat De Gafsa (CPG), from Tunisia, (both being Government of Tunisia entities), was inaugurated on July 12, 2013.

CIL stated in a press release here on Wednesday that has made an investment in Tifert for securing uninterrupted supply of phosphoric acid for the company’s operations. The company and GSFC have entered into a long term agreement with the Tifert to import the entire production of phosphoric acid directly to India. CIL and GSFC hold 15% each in the share capital of Tifert.
source: http://www.business-standard.com / Business Standard / Home> Companies> News / by BS Reporter / Hyderabad – August 07th, 2013

Buttoned sarees, quirky dhotis

Arts, Culture & Entertainment, Business & Economy

Known for his innovative ethnic wear and colour palette, Hyderabad-based Anand Kabra has made it to the top league in the Indian fashion industry. Everyone, from Vidya Balan to Deepika Padukone and Madhuri Dixit has been favouring his styles of late.

Art of imperfection

The designer unveiled his new collection in Chennai store Collage. This collection is a medley of his previous lines Wabi Sabi, Taramati and Kumari. “We are still getting queries about these lines, so they have not lost their relevance. We have picked elements from each and revived them in a contemporary manner,” Kabra offers, adding that he enjoys “androgyny or borrowing the principles of menswear from the sherwani or angrakha and fusing them into Indian womenswear.” Keeping in mind the festive season,  Kabra has used earthy colours “like mustards, kumkum, soft dusty pink and jewel tones like emerald green and ink blue, apart from his usual black and white.”

So expect buttoned and pre-pleated saris, streamlined kurtas and classic anarkalis, floor length angrakhas, lehenga, saris and embellished jackets, palazzos and quirky dhotis.

He is also bringing his latest Fall/ Winter’13/14 line, Wabi Sabi 2, where he presents perfection in imperfection. “It questions the rules of prettiness,” he explains, giving us an example. “We have taken a photographic print of the rose, with the focus on the stalk and used it in one of our creations. It’s beautiful. It is an entire collection of contrasts. Swarovski is used with mulmul. 3D zardozi is a new technique seen in this collection, apart from colour blocking, and transparency.” Anand Kabra collection is priced from ` 25,000 onwards.

source: http://www.newindianexpress.com / The New Indian Express / Home> Cities> Hyderabad / by Madhuwanti Saha – Hyderabad / August 13th, 2013

Special tour to Srisailam kicks off

Arts, Culture & Entertainment, Business & Economy
Picture for representational purposes only.
Picture for representational purposes only.

Hyderabad:

A Road-cum-River package tour from Hyderabad to Srisailam, through Nagarjunasagar dam and back to the city, has been introduced by the Andhra Pradesh Tourism Department Corporation (APTDC) every Monday and Thursday.

There are two special packages — the first one, is scheduled to depart Hyderabad around 8 am. After a three-hour drive to Nagarjunasagar and a short excursion at the dam, the cruise to Srisailam leaves at around 11 am.

The cruise is expected to arrive at Srisailam around 6 pm, covering the Nagarjunakonda museum, if time permits. After checking in for the night, covering Srisailam dam and Sakshi Ganapathi temple en route, the travelers will get a darshan at Srisailam at 8 pm. The next day the group will move to Mallela Thirtham and Farahabad wild life sanctuary towards Hyderabad and finally return to the city at around 8 pm.

The second package includes departure from the city at 8 am (Monday or Thursday) by road,  arrival at Srisailam after covering Mallela Thirtham and Farahabad wildlife sanctuary at 2 pm. The batch will get a darshan at 8 pm at Srisailam.

The next morning the group will begin journey to Srisailam dam via Sakshi Ganapathi temple, then leave to Nagarjuna Sagar by cruise at 5 pm, covering Nagarjunakonda then leave for Hyderabad passing through Ettipotala waterfalls and dam.

According to the APTDC authorities, the tour tariff for adults is Rs 3,150/Child Rs 2,520 with Non A/C accommodation, transportation and food.

17 sriramsagar gates lifted

Nizamabad: 17 crest gates of Sriramsagar dam were lifted on  Tuesday and  flood waters released into the Godavari. According to  project officials,  heavy rains in catchment areas of Nizamabad, Adilabad districts and neighbouring Nanded district of Maharashtra resulted in huge inflows into river Godavari in the last few days.

Around 75,000 cusecs of inflows reached the project on Tuesday.  Initially,  the officials opened 5 gates and later increased it up to 17 gates and released the water into the river. Meanwhile, 6,000 cusec of water into Kakatiya canal,  500 cusecs into Saraswathi canal and  2,000 cusecs for flood flow canal is being released as outflow. Sriramsagar dam reached full reservoir level of 1,091 ft  touching  its gross storage of 90.31 tmc ft water on Tuesday.

source:http://www.deccanchronicle.com / Deccan Chronicle / Home> News> Current Affairs / by DC / August 14th, 2013

CDC and Abraaj Group invest $17.5 million in Rainbow Hospitals

Business & Economy, Science & Technology, World Opinion

Hyderabad-based Rainbow Hospitals, which primarily focuses on paediatric and maternal care, has raised $17.5 million (Rs 107.3 crore) from the UK-based development financial institution CDC Group Plc and Dubai-based private equity investor Abraaj Group for the sale of an undisclosed stake.

Rainbow, which started as a 60-bed hospital in 1999, currently runs six hospitals in the country. Four of these hospitals are based in Hyderabad while the other two are in Vijayawada and Bangalore.

The company plans to expand its number of beds from the current 450 to 1,000 by 2017. It will also look at expanding to Chennai, Pune, Visakhapatnam and Kurnool, among other cities.

“The patient investment approach taken by CDC and Abraaj gives us the space to focus on longer-term business quality and performance essential in multi-specialty paediatric care,” said Ramesh Kancharla, chairman and managing director of Rainbow Hospitals.

The hospital chain will also quadruple its workforce from the current 1,000 as it plans to increase its portfolio.

Rainbow Hospitals is the first direct investment in India by the CDC Group, which is a wholly owned development finance institution of the UK government’s Department for International Development.

CDC, which focused on fund-to-fund investment across Asia and Africa, changed its strategy to focus only on South Asia and sub-Saharan Africa. It also announced that it would make debt and direct investments in these geographies as opposed to a limited partner’s role in private equity/venture capital funds.

“This is an exciting first direct equity investment in India for CDC. We will work closely with the company to give it the long-term capital and support it needs to build the business,” said Srini Nagarajan, CDC’s regional director for South Asia.

For Abraaj Group, the other private equity player investing in Rainbow Hospitals, this is the 28th investment in India. The PE player manages $7.5 billion across 25 sector-specific and country-specific funds, and invests in growth markets such as the South-east Asia, West Asia, Africa, Latin America and Central Asia.

“There is a pressing requirement in the Indian healthcare sector for paediatric healthcare infrastructure due to the demographics of the country, which witness high fertility, maternal and infant mortality rates,” Balaji Srinivas, managing director of Abraaj Group, said in a statement.

Last year, Abraaj Group acquired Aureos Capital, a global private equity fund management group investing in small and medium-sized enterprises across Asia, Africa and Latin America.

Indian healthcare services space, which forms more than 60 per cent of the healthcare sector in the country, has seen a high number of PE investments this year. Some of the recent deals include DEG investing $12.21 million in Ivy Hospitals, IFC and Standard Chartered investing over $46 million in Fortis Healthcare and Multiples Alternate Asset Management investing $33.15 million in Vikram Hospitals, among others.

source: http://www.in.reuters.com / Reuters / source: by VCCircle.com / Wednesday – August 14th, 2013

Hyderabad to host global cancer meet in Sept next year

Business & Economy, Science & Technology
K. V. Raghavan (left), Chairman of Global Cancer Summit 2014, addressing a press conference in Hyderabad on Wednesday. Beside him is D. S. Bajaj , Secretary-General of Federation of Asian Biotech Associations. — P.V. Sivakumar / The Hindu
K. V. Raghavan (left), Chairman of Global Cancer Summit 2014, addressing a press conference in Hyderabad on Wednesday. Beside him is D. S. Bajaj , Secretary-General of Federation of Asian Biotech Associations. — P.V. Sivakumar / The Hindu

Hyderabad : 

Open access publication group, OMICS Inc, the Federation of Asian Biotech Associations (FABA) and BioGenesis will be organising a global cancer summit in Hyderabad during September 16-18, 2014.

The conference, to be attended by medical professionals from across 35 countries would deliberate on the theme of recent advances in cancer diagnosis and therapy, Srinubabu Gedela, Chairman and CEO, OMICS told newspersons here on Wednesday.

K.V. Raghavan, Secretary-General, FABA said the federation was associated with the event as it would add significantly to the knowledge on treating cancer.

source: http://www.thehindubusinessline.com / Business Line / Home> News> National / The Hindu Bureau   naga.gunturi@thehindu.co.in / Hyderabad, August 14th, 2013

Hyderabad-born Prem Watsa may bid for BlackBerry

Business & Economy, Nri's / Pio's, Science & Technology

Toronto :

Just over a year ago, Prem Watsa said Research in Motion , now re-named BlackBerry, was a “Canadian success story,” a good buy and a likely turnaround story, despite declining market share.

BlackBerry’s fortunes have only deteriorated since then, but Watsa, chief executive of top BlackBerry shareholder Fairfax Financial, is an old hand at looking wrong today and right tomorrow.

(Prem Watsa, chief executive…)
(Prem Watsa, chief executive…)

Fairfax, both an insurance holding company and Watsa’s investment vehicle, was on the losing end of bets against the market in the mid 2000s as Watsa waited for the US mortgage industry to collapse.

The company’s stock fell by 50% between mid-2003 and mid-2006 as Watsa’s purchases of credit default swaps flattened profits, while rivals feasted on a housing-fed bull market.

But when the market began to weaken in 2007, Fairfax began notching up investment gains, pulling in billion-dollar profits in 2007 and 2008. Then with markets still reeling and other investors licking their wounds, Watsa started to plow money back into equities, bringing another strong year in 2009.

Since their 2006 low of C$100, Fairfax’s shares have more than quadrupled, and the stock is up 100-fold over 28 years.

Indeed, Watsa had already shown his investment chops by selling stock ahead of the 1987 stock market crash and buying Japanese puts – or rights to sell stocks at guaranteed prices – ahead of the Tokyo market’s collapse in 1990.

Canada’s Buffet?
Often called Canada’s version of  Warren Buffet , Watsa preaches a long view that suggests it may be too early to assess his decision to take on a leading 10 per cent stake in BlackBerry.

As it sits now, BlackBerry has not been a turnaround story under Watsa’s watch. Since January 2012, a period when Fairfax has raised its stake in the company from just over 2 per cent to just under 10 per cent, BlackBerry’s share price is down about 25 percent.

“Prem invests for the long term,” said Paul Holden, an analyst at CIBC World Markets who follows Fairfax. “He’s held his major stake now for what I would say is a fairly short period of time relative to his investment horizon, so I would say it’s probably too early to put any score on that investment.”

Watsa stepped down from the BlackBerry board on Monday, citing a potential conflict of interest, as the company said it was exploring the sale of itself and other options.

Holden said Fairfax, with a market capitalization of C$8.7 billion, would be too small to purchase BlackBerry outright. The smartphone maker has a market capitalization of C$5.8 billion.

But others said the signs that Watsa could be working behind the scenes were a positive.

“We have a lot of respect for the investment acumen and long-term track record Prem Watsa has established at Fairfax,” said Todd Johnson , a portfolio manager at Winnipeg-based BCV Financial, which owns Fairfax debt.

“Hearing the announcement from BlackBerry accompanied by Prem’s departure from the board should indicate something will happen this time on the strategic front.”

Low profile
Watsa, who was born in 1950 in Hyderabad, India, and trained as a chemical engineer, has a public profile that has at times bordered on the reclusive since he took over Fairfax in 1985. For his first 15 years at the company, he barely spoke to a reporter, and he only started holding investor conference calls in 2001.

Fairfax has generally not been known as an activist investor, but Watsa has not shied away from a fight, launching a $6 billion lawsuit against a group of hedge funds in 2006, accusing them of conspiring to the drive the company’s shares down so they could be shorted.

A short position enables an investor to profit when a stock drops.

To be sure, not all Watsa’s moves have been golden. Fairfax had to write off most its investment in Winnipeg-based media company Canwest in 2009 as the company filed for bankruptcy protection.

It also wrote down a significant investment in publisher Torstar in 2008-09 and took losses on its holding of forestry company Abitibi Bowater.

Speaking last year, Watsa suggested investors looking for a short-term rebound in BlackBerry might be disappointed.

“Is it going to turn around in three months, six months, nine months? No,” he told reporters. “But if you’re looking four, five years … We make investments  over four or five years.”

source: http://www.articles.timesofindia.indiatimes.com / The Times of India / Home> Tech> Tech News> Hardware> Invstment / by Reuters / August 14th, 2013

National Seed Association of India appoints Nuziveedu Seeds CMD as its president

Business & Economy, Science & Technology

National Seed Association of India (NSAI) on Friday said it had appointed the chairman and managing director of Hyderabad-based seed company Nuziveedu Seeds Limited M Prabhakar Rao as its new president. Rao will be heading NSAI’s governing council for a period of two years starting 2013. The announcement came after NSAI’s annual general meeting was held in New Delhi on July 31.

Commenting on the development, Rao said, “I am honoured to have been bestowed with such responsibility that gives me an opportunity to work towards regulatory issues faced by seed industry, creating conducive environment for the functioning of seed industry and for intellectual property rights for the seeds varieties so as to enhance research and development (R&D) investments for benefit of farmers”.

The other members of NSAI’s office bearers include MG Shembekar, vice president, (Ankur Seeds private limited), Bhupen Dubey, general secretary, (UPL Advanta limited) and KS Narayanaswamy, treasurer, (GEO Biotechnologies private limited) among other members.

National Seed Association of India is an industry body representing 238 private and public sector seeds companies in India. The association mainly facilitates consultation between the members and central government, state governments and different international agencies. NSAI said it is also gearing up for hosting national as well as international seed conferences thus working towards an increased role for India in the international seed trade.

source: http://www.timesofindia.indiatimes.com / The Times of India / Home> Business> India Business / by Swati Rathor, TNN / August 09th, 2013

UK firm to buy Four Soft’s IT business for $43 m

Business & Economy, Science & Technology, World Opinion

Hyderabad : 

The Four Soft board has decided to sell its IT solutions business and its stake in all its foreign subsidiaries to the UK-based Kewill group for a consideration of $43.4 million.

“The transaction for the business is valued at $22.5 million and investments in the share capital of foreign subsidiaries are valued at $20.9 million, making a total deal value of $43.4 million. The deal is expected to close in 90 days, subject to statutory approval and closing processes,” the company informed the Bombay Stock Exchange on Saturday.

The Hyderabad-based company, promoted by Palem Srikanth Reddy, provides IT solutions to logistics and transportation industries.

The board, which met here on Saturday, considered the ‘slump sale’ after discussing Transport, I.T. Solutions Private Ltd (a Kewill group company) proposal to acquire the business. The proposal also included purchase of stake in the company’s foreign arms.

The promoter will adhere to a five-year non-compete and non-solicit agreement with the acquirer. Srikanth Reddy, who is also the Chairman and Managing Director, told Business Line that the company could tap opportunities in testing services, big data analytics, as also media and entertainment industries.

For the quarter ended June 30, the company registered a turnover of Rs 30 crore against Rs 32 crore in the same period last year. It made a net profit of Rs 4 crore (Rs 2.76 crore). For the full year 2012-13, the company made a net profit of Rs 11 crore on a turnover of Rs 132 crore.

source: http://www.thehindubusinessline.com / Business Line / Home> Industry> Info-Tech / by K. V. Kurmanath  kurmanath.kanchi@thehindu.co.in / Hyderabad – August 10th, 2013

Cycle to office in Cyberabad!

Arts, Culture & Entertainment, Business & Economy, Green Initiatives / Environment, Science & Technology
The corporate cycling competition will be held on August 15 at the Gachibowli stadium and is being organised by The Atlanta Foundation (TAF), a not-for-profit organisation.
The corporate cycling competition will be held on August 15 at the Gachibowli stadium and is being organised by The Atlanta Foundation (TAF), a not-for-profit organisation.

By the end of this year, health conscious Hyderabadis will have one more reason to smile. A 30-km long cycle track, being laid in Cyberabad by the Andhra Pradesh Industrial Infrastructure Corporation Limited (APIIC) and the Greater Hyderabad Municipal Corporation (GHMC), will be completed by this year-end.

APIIC managing director Jayesh Ranjan, speaking at the launch of the fifth Freedom Ride-2013, a corporate cycling competition here Friday, said 10 cycle stations will be built and employees working in the area can pick up a cycle from one of them to commute to their place of work for a fixed amount every month.

The corporate cycling competition will be held on August 15 at the Gachibowli stadium and is being organised by The Atlanta Foundation (TAF), a not-for-profit organisation.

Jayesh Ranjan said the event, supported by the APIIC, is intended to encourage cycling among people. The organisers announced that participants have to cycle 66 km to celebrate India’s 66th Independence Day.

Deenanath Harapanahalli, founder of TAF, said a part of the money collected through registration fee for the competition will be used to provide education to underprivileged students through educational programs conducted at four government schools adopted by TAF.

Donations generated through the competition will be collected by TAF’s charity partner ‘United Way of Hyderabad’ which will be used to fund activities in rainbow schools.

Close to 5,300 people have already registered for the competition. Those interested can register till August 13 by paying `1250. The freedom ride will be flagged off at 7 a.m. on August 15.

source: http://www.newindianexpress.com / The New Indian Express / Home> Cities> Hyderabad / by Express News Service – Hyderabad / August 10th, 2013