Category Archives: Business & Economy

Postman turns into a Good Samaritan

July 14, 2013Arts, Culture & Entertainment, Business & Economy, Inspiration /Positive News and Featuresadmin

An act of kindness, no matter how small, is never wasted. Postman R. Ramachandra Rao lives by this lofty maxim.

A modest grade of a postman has never been a barrier for him to rise to the dire needs of the less privileged people around him.

The headmaster of the S.B.S.R.K. Girls High School at Gandhinagar was pleasantly surprised when Mr. Rao approached him expressing his desire to help a few students in his small way. He distributed school bags, uniforms, books and other stationary material to eight students. “I told the students to wait for a few more days to get their uniforms stitched as I needed little more time to mobilise money for it,” he says in a matter-of-fact way.

Earlier, in a similar gesture, Mr. Rao extended help to Ch. Yesubabu, a boy from Singhnagar, who was born with a hole in his heart. “I gave him clothes, bedsheets and a small amount of money,” he says.

A dwarf boy pursuing a degree course in SRR & CVR Government Degree College also attracted his attention. In yet another similar case, responding to a newspaper advertisement by a mother seeking financial help for treatment of her young son suffering from a bone-related ailment, Mr. Rao promptly contributed his mite.

Winner of the Dak Seva Award from Andhra Pradesh last year, Mr. Rao earlier made news for wearing his loyalty to his Department on his sleeve.

In open display of his loyalty to the Department of Posts, he moves around in his uniform, riding a red bicycle. The cycle is equipped with a red bag and a red colour box affixed to the rear. “Even my water bottle and lunch box are also red in colour,” he informs, pointing to the two articles.

A native of Kothapalem village under Muthukur mandal in Nellore district, Mr. Rao came to this city in 1974 and discontinued his studies after he failed in SSC exams and managed to find himself a menial job.

He also has a rare achievement. The Department of Posts, Vijayawada, has released an exclusive postcard with his photograph printed on it.

“My retirement date is due next year. But I don’t want to stop so early,” he says.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Vijayawada / by P. Sujatha Varma / June 26th, 2013

PVP Group buys IBL’s Hyderabad franchise

July 10, 2013Business & Economy, Sportsadmin

Bangalore:

Hyderabad-based PVP Group Wednesday became the first franchise of the proposed 1 million dollar Indian Badminton League (IBL). PVP Group chairman Prasad V. Potluri said: “We are extremely delighted with our association with the Indian Badminton League. PVP Group aims to utilise this platform and will ensure that badminton in India grows and continues to produce world champions.

“Badminton has brought huge laurels for India in the past and is again capturing the imagination of the masses through the achievements of stars like Saina Nehwal, Jwala Gutta, Ashwini Ponnappa and others.”

Speaking on PVP’s successful bid to own the Hyderabad Hotshots franchise, Ashish Chadha, CEO of Sporty Solutionz, the commercial partner for IBL, said: “Badminton as a sport brings a lot of positivity today and we hope the IBL will create a platform that will inspire and fire the imagination of millions of youth in the country.

Hyderabad-based PVP Group Wednesday became the first franchise of the proposed 1 million dollar Indian Badminton League (IBL).

“We are proud to be associated with PVP Group and them coming on board as the owners of Hyderabad Hotshots. They bring enormous clout in the entertainment industry and we hope it will boost our efforts to support and promote badminton in a zany and exciting format.”

Badminton Association of India (BAI) president Akhilesh Das Gupta said: “We welcome Hyderabad-based PVP Group into the badminton family. Hyderabad deserves a great franchise as they are one of the leading nurseries for badminton in India. With their support, Hyderabad Hotshots can aspire to win the IBL title in the inaugural year.”

The IBL is set to launch Aug 14 this year and will feature six franchises. Each franchise will host a two-day leg and the league will showcase 90 matches over 18 days. The matches will be held during late afternoon and evening to coincide with prime time television and providing a convenient time for the stadium audience.

The top four franchises will clash in the semi-finals and the winners will meet in the final Aug 31, which will be played in Mumbai. The IBL will also run the biggest school championship for badminton in India, the Shuttle Express, which is expected to touch five lakh children in six major cities while it offers Rs.10 lakh as prize money besides an opportunity to train at the Pullela Gopichand Academy.

source: http://www.ibnlive.in.com / IBN Live / Home> IBN Live> Sports> Badminton / by IANS / June 19th, 2013

AAI plans to build airport in Guntur

July 9, 2013Business & Economyadmin

The Airport Authority of India is planning to set up a greenfield airport at Guntur, the hub of flourishing tobacco, cotton and chilly trade, an official said here today.

A 3-member team of the Airport Authority of India today inspected land at Prattipadu village, about 20 km from Guntur city where the airport is proposed to come up.

A member of the team said they would submit a report to the government.

The proposed airport would serve Guntur as also adjacent districts of Prakasam and Nalgonda.

At present, the nearest airport for Guntur residents is at Gannavaram (Vjayawada) which is about 50 km away.

source: http://www.business-standard.com / Business Standard / Home> PTI Stories> National> News / by Press Trust of India / Guntur (AP) – June 27th, 2013

Thermal Powertech inks 20 year FSA with Mahanadi Coal

July 7, 2013Business & Economy, Science & Technologyadmin

RTT News reported that Gayatri Projects Ltd announced that its subsidiary Thermal Powertech Corporation India Ltd had signed Fuel Supply Agreement with Mahanadi Coal Fields Ltd, a subsidiary of Coal India Ltd. for a period of 20 years.

TPCIL is in the process of setting up a 1,320 MW coal-fired generation plant with 2 units of 660MW each, in the Nellore district of Andhra Pradesh, located near the cost of Krishnapatnam. The plant has been designed to run on 70% domestic coal and 30% imported coal. The imported coal requirement will be met through TPCIL’s coal supply agreement with PT Bayan Resources, which was secured in February 2012.

Under the FSA signed for Annual Contracted Capacity of 2.13 million tonne per annum, MCL would be supplying coal to TPCIL’s plant for a period of 20 years starting from the operationalization of the plant which is expected in FY15.

The company said that with the assured quantity of coal supply for TPCIL for the next 20 years, TPCIL will be able to supply power to the lakhs of consumers in AP and other parts of the country.

source: http://www.coalguru.com / Coal Guru / Home> www.rttnews.com / June 27th, 2013

Hyderabad techies smell scent of money in sandalwood farming

July 4, 2013Business & Economy, Green Initiatives / Environment, Nature, Science & Technologyadmin

Hyderabad :

It’s a new crop of farmers that’s seen making an entry into AP’s agro industry now.

Far removed from the traditional sickle-carrying uneducated bunch, these laptop-totting modern agriculturalists are mostly suave techies with a plush job in the hi-tech hub of Hyderabad. And what they seem to be putting their money on to further `cultivate’ their wealth is not just another seasonal vegetable or fruit, but the much profitable sandalwood.

Rough estimates suggest that well over 1,000 acres of land spread across areas such as Alair, Vikarabad and Zaheerabad, all located within 100 km from the city, have been brought under this new-age plantation activity that until a few years ago was restricted to dedicated zones within Karnataka and Tamil Nadu.

The low cost of land in these pockets __ industry experts claim that the prices are as low as Rs 20 lakh per acre __ coupled with a recession-hit real estate market and the surge in interest among young professionals to go back to the `fields’, has given the lucrative business that extra boost.

Far removed from the traditional sickle-carrying uneducated bunch, these laptop-totting modern agriculturalists are mostly suave techies.

So much so that M M Rao, after spending a good 14 years in the BPO sector , is now mulling giving up his present career and don the role of a full-time farmer. “I have bought half acre in Alair for this purpose with an initial investment of Rs 4 lakh. The value of this property has already shot up to Rs 6 lakh and post cultivation, it is only expected to rise further,” Rao said.

“Also, considering I am growing vegetables and mangoes here (sandalwood needs `host’ plants) in the intervening period, I expect to earn anywhere between Rs 20,000 and Rs 25,000 annually from the sale of the fruit till the sandalwood plants are ready for yield,” he added.

On an average, it takes around 15-20 years for a sandalwood tree to be rich in its oil content.

Apart from himself, the techie has also managed to persuade some of his friends to take to this ‘new profession’ as he is highly optimistic of impressive returns in the future.

To cash in on this swelling enthusiasm for sandalwood among novice farmers, corporate groups from the city have come up with special profit-sharing ‘packages’ to encourage more and more people to take to agriculture, especially organic farming .

“We work on a 50-50 revenue sharing model wherein the land owner gives us the property and we take care of everything – right from setting up infrastructure to cultivation to harvest. This spares the owner the trouble of not just the initial plantation but also securing the plot till the trees grow,” said K Srinivas Rao, director, Village Organics Pvt Ltd, the company that presently has over 500 acres of land (for sandalwood farming) under its belt. It also has on board specialized wood and horticulture scientists to assist with the project.

“Contrary to popular conception, the Rayalaseema-Telangana region is well suited for this cultivation as they are not waterlogged areas,” Rao, who is also the president of the Sandalwood Growers Association of India, said.

Among the many hi-tech Hyderabadis who have signed up with his firm is Sheik Rasheed Basha, an IT professional , working with the railways at present. “I was looking at an investment option and this sounded interesting. The real estate market is anyway down so I thought of putting my money here,” Basha said. Only two months ago, he bought 1,200 sq yards (approx) in Vikarabad. “I have invested about Rs 3.5 lakh, which I am sure, will grow by at least three times soon,” he added.

But while this fresh group of farmers is sure of good returns, city environmentalists do sound a word of caution. They fear that such long-term business models might fizzle out before the buyers make any money.

source: http://www.economictimes.indiatimes.com / The Economic Times / Home> News> Economy> Agriculture / by TNN / June 20th, 2013

Here sleeps the earliest urban planner

July 3, 2013Business & Economy, Historical Links, Pre-Independence, Leaders, Records, Alladmin

HYDERABAD: ANDHRA PRADESH: 03-06-2013:The tomb of Mir Momin Astarabadi situated at the Mir Momin Ka Daira in old city of Hyderabad. / --- PHOTO BY: ASIF YAR KHAN / The Hindu — HYDERABAD: ANDHRA PRADESH: 03-06-2013:The tomb of Mir Momin Astarabadi situated at the Mir Momin Ka Daira in old city of Hyderabad. / — PHOTO BY: ASIF YAR KHAN / The Hindu

He was the first prime minister during the reign of Mohammad Quli Qutb Shah and was instrumental in the planning of Hyderabad including the location of the magnificent Charminar. But not many know about him or his grave.

Mir Momin Astarabadi now is buried at a graveyard at the Mir Momin Ka Daira in Sultan Shahi, a little ahead of Charminar.

The place gets its name through his tomb. Historians say that Mir Momim himself got the tomb constructed at the place when he was alive.

Iranian immigrant

A first generation Iranian, he migrated to the Golconda Kingdom in the late 15th century and is known to have embossed Iranian influence on the city. He held a crucial position in the administration and governance.

His tomb was lying in a state of neglect for many years until the Iranian consulate intervened. A fresh coat of plaster was given to the lime structure, and plans were afoot to undertake beautification works.

Work stopped

The work was stopped for some reasons, and now the structure presents a dull look, says Syed Hameed Hussain Jaffery, president, A.P. Shia Youth Conference.

The premises have numerous tombs and mausoleums including that of Mir Abul Qasim, also known as Mir Alam after whom the tank near the zoo park is named. However, the necropolis is now riddled with problems.

Govt alerted

Except for the maintenance of a couple of tombs, many other old structures of the 18 and 19 century are fast losing their sheen. The other day Mr. Jaffery represented the matter to the Wakf Board and other departments demanding that the government take steps to restore the structures at the Mir Momin Ka Daira.

“The historic structures as well as the entire graveyard is in pretty bad shape,” Mr. Jaffery complains. He wants the government to take up immediate restoration work.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Hyderabad / by Asif Yar Khan / June 18th, 2013

‘CII promoting entrepreneurs among SC/STs’

June 28, 2013Business & Economyadmin

Prospective entrepreneurs at the CII session in Vijayawada on Wednesday./ Photo. Ch. Vijaya Bhaskar

Though it is a voluntary commitment, the member companies are proactive and enthusiastic about it, says Vijayawada zone vice-chairman V.V.M. Krishna

The CII is promoting non-discrimination against Scheduled Caste and Scheduled Tribe employees, applicants or vendors.

CII member companies were proactive and enthusiastic in following the CII code, said CII Vijayawada zone vice-chairman V.V.M.Krishna.

Speaking at a session on ‘Doing Business: Opportunities and challenges’ in an industrial motivation campaign to promote entrepreneurship among SCs and STs organised jointly by the CII, the Dalit Indian Chamber of Commerce and industry (DICCI), the APIIC, and Andhra Pradesh government here, Mr. Krishna said that the CII had developed a code of conduct on affirmative action being followed by member companies. The code related to non-discrimination, assistance and transparency with respect to employees, applicants or vendors from the SC and ST communities. Though it was a voluntary commitment, the member companies were proactive and enthusiastic about it.

“Various companies have evolved different programmes and there was a lot of enthusiasm about greater engagement with society and the underprivileged. The support to CII for this from the industry has been spontaneous,” Mr Krishna said. CII members from Andhra Pradesh have shown a lot of interest in contributing to the scholarships for SC and ST candidates through Foundation for Academic Excellence and Access (FAEA). As many as 40 companies signed the Code of Conduct and 2,630 students were being extended educational support, Mr Krishna said.

DICCI president Ravi Kumar Narra and Efftronics System MD D.Rama Krishna spoke.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Vijayawada / by Special Correspondent / June 20th, 2013

Nellore to house Ocean institute

June 27, 2013Business & Economy, Science & Technologyadmin

Hyderabad:

Due to lack of space for expansion in Chennai, the National Institute of Ocean Technology (NIOT) has decided to set up a larger campus at Nellore in Andhra Pradesh. Dr M.A. Atmanand, director, NIOT, said the institute had been on the lookout for a large piece of land for expansion near Chennai, but the institute has now decided to set its new campus outside Tamil Nadu.

“We are trying to get 250 acres in Nellore and our negotiation with the AP government is on,” he said. The district administration has identified 211.75 acres of land at Vakadu and Kota mandals of Nellore for NIOT. NIOT deposited Rs 8.5 crore towards the cost of land which includes some private land as well.

source: http://www.deccanchronicle.com / Deccan Chronicle / Home> News> Current Affairs / DC / June 15th, 2013

NanoCoat to raise Rs 20 cr to fund capacity expansion

June 27, 2013Business & Economyadmin

Nano Coat Chemtech, a Hyderabad-based start-up engaged in the research and development (R&D) and commercialisation of nano-materials that are directed towards innovative applications in healhcare, infrastructure and energy sectors, is looking at raising close to Rs 20 crore to fuel its capacity expansion plans.

We are planning to raise the funds through a private equity placement. We should be closing the deal in the next financial year, Baskaran A, managing director of NanoCoat, told Business Standard.

The nine-month-old company, which had raised its first round of funding from Arun Reddy, an angel investor based out of New York, currently manufactures 10,000 litre of nano-material concentrate per day from a leased facility in Hyderabad.

The company intends to utilise the proposed funds to scale up this capacity to 30,000 litre per day, besides setting up dilution-cum-bottling plants in Gujarat and Uttarakhand in a phased manner.

We have been invited by the Gujarat government to set up our facility at their nanotechnology park and we are actively considering it. Both the Gujarat and Uttarakhand plants should be up and running sometime during the next financial year, Baskaran said.

NanoCoat has already developed three products for domestic and industrial use, which it is planning to file for patents globally. These include N-Arokya focused on the hygiene segment, N-Vitra, a dust-repellent and water-repellent coating product, and N-Surya targeting photovoltaic (PV) manufacturers and end-users.

Currently being tested by a few identified customers, NanoCoat is planning to commercially launch these three products across India, Asia-Pacific, West Asia and Africa in August this year. The company has so far invested around Rs 3.2 crore in operational expenses, and R&D of these products.

Stating that the company was specifically focusing on green technology, Baskaran said the market (application of nanotechnology in chemical areas) was currently pegged at $10 billion globally.

We see a huge potential for such products and we expect each of these three products to bring in Rs 8 crore during the eight-month commercial period, both through institutional sales and distribution channel approach, he added.

The company has in its pipeline three more products, which are currently in lab-testing stage. The products, targeted at purification of completely-polluted public water bodies like Hussain Sagar Lake, and enhancement of solar PV cells production etc, are expected to be commercially rolled out in the next two quarters, he said.

source: http://www.business-standard.com / Business Standard / Home> Companies> News / by K Rajani Kanth / Chennai-Hyderabad / June 16th, 2013

Power from biomass begins

June 23, 2013Business & Economy, Green Initiatives / Environment, Science & Technologyadmin

Visakhapatnam:

Power generation from alternative sources in the district gained momentum with the start of environment friendly, biomass-based power production in the district. It achieves greater significance as traditional thermal power generation has proved to be expensive and a major contributor to global warming.

Circars Power Industries Limited, was given permission to start biomass-based power with a capacity of 6MW at Narsingapally way back in 1999, but did not start generating power until 2010.
Sources say that such projects were cleared in all districts by the state government as part of an initiative to encouraging green power projects across the state.

Vishnu Vidyut India Limited took over the project in 2010 and started production in Jan 2013. It is the first unit to be upgraded to 7.5MW and produces power with locally available agricultural waste. The electricity generated through the combustion of renewable biomass is being sent to the AP Transmission Corporation’s grid at Narasingapally.

“We are selling power at Rs 5.45 per unit, which is synchronised to the grid. The advantage is that the technology for power generation using biomass is similar to that of a thermal plant based on coal but at a cheaper cost with low emissions,” said Grandhi Suresh Babu, Managing Director of the unit.

Currently, biomass contributes 14 per cent of the total energy supply, predominantly in the rural and traditional sectors. A study conducted by a researcher of Bharathiar University also showed that the unit cost of electricity from electricity board is Rs 4.017 while that from biomass works to only Rs 1.395, which is affordable.

“We are encouraging such green projects in the district in order to enhance power production to bail out from the crisis. Many organizations are coming forward to set up solar units in urban areas,” said Nedcap district manager P. V. Ramaraju.

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

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