Category Archives: Business & Economy

WhistleTalk Raises $400,000 From Hyderabad Angels

Whistle Talk , a social recruiting platform, has raised  $400,000 from Hyderabad Angels  in a funding round led by Hyderabad Angels member, Raghu Bathina. The funds will be used to run the operations and market the product. At present, the team size of the startup is 10, however, the company plans to increase the count to 15 in next six months, according to a vcc circle  report.

Based in Bangalore, Whistletalk is a social hiring platform that allows users to share job openings in their team or help friends to find a job and earn a referral bonus. While sharing a job, users can also target other users with whom they want to share the job. The company claims that it has built a matching and virality engine which shares job postings with people who are most likely to benefit from the posting on the user’s social network. For recruiters, Whistletalk enables hiring through the social network of the current employees. In return, Whistletalk also allows recruiters to offer a referral bonus to employees.

Challenges: We believe that the site will work in favor of job seekers with a wide social network. Apart from that, while using the site we felt that discovery of job offers that are not coming from ones own social network was poor. It’s also not clear as to how the company plans to monetize its operations. At the time of writing this article, we found posting a job offer is free of cost.

Earlier this year, Hyderabad Angels invested  about  Rs 2 crore in E-learning startup  Edutor Technologies . It has also invested in Identis, which develops custom RFID chips for the manufacturing industry.

Other offerings in recruiting space

Recently, ThinkFruit.in , a strategy, operations and management consultant company, launched JobFit.in , a skill certification and job recruitment site. The portal provides skill assessment tests for job seekers that intends to highlight their top skills to the recruiters.

Apart from that, WhistleTalk competes with recruitment players including  Naukri , Shine.com , Monster, ClickJobs and TimesJobs, besides job boards, and popular professional network, LinkedIn. Last year, YourNextLeap.com , a web-based career recommendation engine, had pivoted  to a job site, allowing users to build profiles, take aptitude tests and search for jobs. The site also offered an assessment tool, suggesting jobs based on an assessment of the user’s activities, interests and strengths.

source: http://www.medianama.com / Home / by Apurva Chardhary / December 04th, 2012

Visakhapatnam Steel to set up plant in Sri Lanka

Visakhapatnam Steel Plant, (RINL) an Indian market leader for bar and rod products in the steel market, is looking at entering the Sri Lankan steel market. RINL, which is backed by the Government of India, has a 35% market share in bar and rods amongst the main and major producers of long products in India.

T. K. Chand, Director(Commercial) RINL and H. L. Meena, Director, Ministry of Steel during the event./ Picture by Saliya Rupasinghe

“We will be opening a regional office at the World Trade Centre soon and then would explore the possibility of having manufacturing facilities in Sri Lanka with a local partner,” said T. K. Chand, Director (Commercial) RINL and Chairman of Confederation of Indian Industry (CII), Vizag Zone, India who is currently on a fact fining visit to Sri Lanka.

He said that they would look at a new manufacturing either in Hambantota or Trincomalee so that they can use the harbor network. “Our roll out plan for Sri Lanka also include re export to the region which include the Maldives and the Myanmar,” he disclosed.

He said that they are very strong in Tamil Nadu. “We also see a similar demand for our products in both Tamil Nadu and Sri Lanka.”

During the last financial year, the company has recorded around US$28 billion as against the previous year annual turnover. With expansion of its product value, its turnover is likely to go up to US$5.5 billion in a couple of years. The company is also known as a green steel producer with extensive green steel technology adopted in its operational processes.

He also said that they had obtained the green light from the government to launch operations to Sri Lanka. RINL is also considering participation in the intensive growth of Sri Lanka by introducing its intensive Rural Dealership Scheme (RDS) that provides business opportunities to rural entrepreneurs and beneficial employment while making quality steel available to common people in the countryside. RDS is a highly successful scheme in India and RINL has developed this intensive scheme through the Indian Steel Minister, Beni Prasad Verma’s inspirational call to steel producer’s to make steel available in rural India and participate in its growth and progress, he said.

Other team members of the delegation, H. L. Meena, Director, Ministry of Steel, Wilson David, General Manager (Mills), RINL and Desikachar, Deputy General Manager (Marketing)-Exports, RINL echoed the same views and told that they were impressed on the business facilities available in Sri Lanka.

source: http://www.DailyNews.lk / Home / by Sara Pathirana / Wednesday, December 05th, 2012

Another IT hub emerges in Andhra

HOT SPOT: Madhurawada, Vizag

Madhurawada, located along the north-east of Vizag or Visakhapatnam, along  National Highway – 5 , is an upcoming residential area, thanks to the major developments driven by the Information Technology (IT) sector. It is located on the Visakhapatnam-Vizianagaram stretch of N-5, around 16 km from Visakhapatnam city.

IT companies have been allocated land in this area to develop and start their operations. There is a biotech  SEZ  and industrial developments like the steel and power plants in the south. The growth corridor is northwards, along NH-5 towards Vijayanagaram. The area is witnessing many apartments projects along NH-5 and Beach Road, with the foray of IT/Ites industries in the city. Realising the high demand in this sector, the  Visakhapatnam Urban Development Authority (VUDA) is developing multiple residential projects through public-private participation mode with reputed local developers. Residential property rates  are around Rs 4,500-5,000 per sq ft. Rates in the less central areas range from Rs 2,000-2,500 sq ft. Bungalows can be picked up from anywhere between Rs 45 lakh to Rs 90 lakh. Plots for residential development are priced between Rs 5 lakh to Rs 1 crore.

Madhurawada is developing as a major destination for sports, education and business establishments. An International Cricket Stadium, the ACA-VDCA Stadium, is located in Madhurawada making the place a major sports destination. A fantasy park called ‘Jatara’ and constructed by the Andhra Pradesh government is a famous tourist attraction. The Durgalamma Ammavaru temple is another added attraction.

The city has an industrial economic base with large-scale industries like Vizag Steel Plant, Hindustan Petroleum Corporation Ltd, National Thermal Power Corporation, Bharat Heavy Plates and Vessels, among others. Moreover, the eastern command of the navy is located in the city. The presence of these major industries and naval Defence base caused immigrants from all parts of the country to head towards Vizag, giving it a cosmopolitan feature.

Vizag is emerging as the next IT/Ites hub in Andhra Pradesh after Hyderabad because of the availability of required skilled labour, infrastructure and comparatively cost-effective real estate in the city. The government has been very proactive in attracting IT/Ites companies into Vizag. The city’s other prime residential areas are Siripuram, Dwarka Nagar, Rani Bagh and Beach Road. The city is witnessing many apartments projects being developed in these areas.

Relatively affordable property rates, decent appreciation potential, pleasant weather and the fact that it is a coastal region with many sea-facing property options available, make it an attractive investment destination.

source: http://www.Business-Standard.com / Home / by Sandip Patnaik / December 03rd, 2012

Cathay Pacific launches Hyd-Hong Kong direct service

Hong Kong-headquartered  international carrier Cathay Pacific has launched its direct flight between Hong Kong and Hyderabad.

The first flight of the four-day weekly A-330-300 service landed at the GMR-operated Rajiv Gandhi International Airport (RGIA) in Hyderabad on Sunday.

With the Hyderabad service, Cathay Pacific now has 46 flights departing each week from India to Hong Kong, according to Tom Wright, country manager (South Asia, Wet Asia and Africa). The airline company had recently increased the frequency of its Chennai-Hong Kong-Chennai flights to daily service from the four-days-in-a-week service.

“Introduction of this new destination will play a very important role in promoting tourism, as Hyderabad has always been the favourite holiday destination for residents abroad. Similarly, it will open a direct window for the people of Hyderabad to choose Hong Kong as an exciting holiday destination and enjoy the dynamic city,” said Vikram Jaisinghani, chief executive officer of GMR Hyderabad International Airport Limited (GHIAL).

In fact, the recent rise in the international traffic has partly offset the steep fall in domestic passenger numbers at the Hyderabad international airport, which saw a 3 per cent dip in the overall passenger traffic in the first half of the current financial year, according to Jaisinghani. The airport operator expects few more international flight services to commence from Hyderabad in the coming months.

GHIAL is aiming at transforming the Hyderabad airport into a gateway of south and central India. The airport has been active with a unique campaign called ‘Fly Via Hyderabad’, launched in 2010, where 18 Indian cities in the catchment area of Hyderabad are being connected seamlessly, according to the company.

RGIA is the first greenfield public-private partnership in the Indian airport infrastructure sector and is eventually designed to handle over 40 million passengers and 1 million tonne of cargo in future.

source: http://www.Business-Standard.com / Home> Companies & Industry/ by BS Reporter / Chennai, Hyderabad / December 03rd, 2012

Lanco Group to invest Rs 500cr in Hyderabad shopping mall

Lanco Group plans to construct a shopping mall called ‘The Lanco Hills Mega Mall’ in Hyderabad, expected to be the largest in South India, at an investment of Rs 500 crore, a company release said.

Unlike most other malls in the country that are skewed towards only one format, the Lanco Hills Mega Mall will be a destination mall serving all demographics and tastes with the widest range of options in every sphere like shopping, movies, gaming, entertainment and dining.

“The mall which will be the largest in South India in terms of built up space, as well as largest number of shopping outlets and entertainment options under one roof, is expected to be completed in the next 30 months at an investment of Rs 500 crore,” it said.

It will have a 12-screen multiplex, premium shopping options, right-out-of-a-fantasyland type gaming zones, roof gardens, fine dining options, hypermarkets and multi-level parking space for 5,000 cars. With a walking length of over 2 kms, the mall aims to provide a one-stop destination to customers with everything from necessities to leisure and celebration, Lanco Hills’ CEO Pochendar Shenigarapu said.

One of the main attractions of the mall would be its the gaming zone with a 14-lane bowling alley, extravagant indoor rides for kids, besides table top and electronic games. A specially designed Go-karting rink shall be a highlight of the gaming and entertainment zone.

An exclusive exhibition and a grand convention centre along with well-lit interiors, cascades, delicate fountains and gurgling water bodies will host premium events, it added.

source: http://www.MoneyControl.com / Home> News> Business> Business News / Friday, November 30th, 2012

Gemini Edibles plans Rs 50 cr expansion plan

Augmenting capacity: (from left) Sumant Kumar Razdan, Director-Operations; Pradeep Chowdhry, Managing Director, and P. Chandrasekhara Reddy, Vice-President-Sales and Marketing, Gemini Edibles and Fats displaying the HACCP and FSSC 22000 certification for their Krishnapatnam plant. / P.V. Sivakumar / The Hindu
Hyderabad , NOV. 29:

Gemini Edibles and Fats India Private Limited, a vegetable oil refiners and trading company, is planning to spend Rs 50 crore on capacity expansion and modernisation of its refineries at Kakinada and Krishnapatnam ports.

Post-expansion, the refinery capacity of the company would grow to 1,300 tonnes a day from 1,100 tonnes a day. This is expected to contribute an additional Rs 300 crore to the turnover.

“We are planning to double the capacity at Kakinada refinery to 400 tonnes a day by middle of next calendar year. This will require an expenditure of Rs 25 crore. At Krishnapatnam, we are planning to automate the processes and install some power capacity,” Pradeep Chowdhry, Managing Director, told Business Line.

The company would meet one-third of the capex budget through internal accruals, with rest coming from banks as term loans. The company, which registered a turnover of Rs 1,350 crore in 2011-12, is hoping to cross the Rs 1,500-crore in the next financial year.

“We have prepared a plan for the expansion plan. We will be sending it to the board for approval. We are planning to complete the expansion plan in the next 6-8 months,” he said.

The three-year-old firm invested Rs 135 crore to build the Krishnapatnam plant with a capacity of 800 tonnes a day and acquired the 200-tonne capacity plant at Kakinada.

COMMODITY BIZ

“We are running on full capacity now. Seventy per cent of turnover comes from brands and speciality products, with the resting coming from loose and bulk oil. Our immediate target is to reduce the low-margin commodity business. This will help us shore up our margins,” he said.

He said the company received HACCP (Hazard Analysis and Critical Control Points) and FSSC 22000 certifications for its Krishnapatnam plant. These certificates conform to global safety standards.

kurmanath.kanchi@thehindu.co.in

source: http://www.TheHinduBusinessLine.com / Home> Industry> Agri-Biz / Hyderabad, November 29th, 2012

London Mayor meets AP ministers, officials

Boris Johnson Mayor of London being received by the Mayor of Hyderabad Mohammed Majid Hussain on Wednesday. At right are G. Srinivasa Rao Minister for Ports and Infrastructure Development and M. Maheedhar Reddy. — /  P. V. Sivakumar / Business Line
Hyderabad, NOV 28:

Regeneration of Hyderabad city, lake cleaning and development projects and an intelligent transport system were some of the areas that companies based out of London could help Hyderabad with as part of its infrastructure development programme.

This emerged out of an interactive session between Mayor of London Boris Johnson and ministers and officials from the Andhra Pradesh Government here today.

The London Mayor’s two-day visit to Hyderabad coincided with the visit of a 22-member UK Trade Mission to India.

Johnson said he was “fascinated” with the infrastructure development works unfolding in Hyderabad. “Capacity addition due to population increase is a focus area both for London and Hyderabad,” he pointed out.

The Mayor took interest in knowing about the metro rail project underway in Hyderabad. He was also informed of the State Government’s interest in taking up cleaning and development of Hussain Sagar Lake in Hyderabad. Johnson said London had considerable expertise in riverfront development projects, which could be taken up in Hyderabad.

Although the meeting did not end with finalisation of any joint venture deals, officials said this was the beginning of what could be a greater partnership between London and Hyderabad.

amitmitra@thehindu.co.in

source: http://www.TheHinduBusinessLine.com / Home> News> States / by Amir Mitra / Hyderabad, November 28th, 2012

Govt approves Spice Park at Guntur

New Delhi, Nov 26 (IBNS)

The government has approved establishment of a Spice park at Guntur, Andhra Pradesh at a cost of Rs 23 crores to empower the chilli farmers to have better price realization and wider markets for their produce.

This information was given by Minister of State for Commerce & Industry Dr. D. Purandeswari in the Lok Sabha on Monday.  

The Government of Andhra Pradesh had allocated 124.78 acres of land in Venkayalapadu and Maidavolu village, Edlapadu Mandal in Guntur district in favour of Spice Board, for setting up of this Spices Park.

“Currently the civil works and electrical works are almost completed. The installation of the plant & machinery for processing of Chilli is in progress and are as per schedule,” said Purandeswari.

“38 acres of land has been allotted to exporters for developing their own processing Units in the Park. So far an expenditure of Rs. 14.62 crores has been incurred on establishment of the Spice Park,” said the minister.

Target for completion of the project is December.

source: http://www.indiablooms.com / by India Blooms News Service / November 26th, 2012 (IBNS)

World Agriculture Forum- 2013 to be held in Hyderabad

Prime Minister Manmohan Singh will inaugurate the Congress, being held for the first time in Asia. / Express photo

To discuss steps to make farming economically-viable in the era of WTO regime, a three-day World Agriculture Forum Congress will be organised here from November 4-7 next year.

Prime Minister Manmohan Singh will inaugurate the Congress, being held for the first time in Asia, which has the theme “Re-shaping agriculture for a sustainable future of small and marginal farmers”.

An agricultural trade fair will also be organised concurrently. As a prelude to the Congress, a meeting was held here today to discuss the agenda and related issues.

World Agriculture Forum Chairman Kenneth M Baker, WAF Advisory Board chairman and former Prime Minister of New Zealand James B Bolger, Andhra Pradesh Chief Minister N Kiran Kumar Reddy, Agriculture ministers — Kanna Lakshminarayana (AP), Ramkrishan Kusmariya (Madhya Pradesh) and D Prasad Mishra (Odisha) attended the meeting along with others.

The primary objective of the Congress was to discuss withall key stakeholders like farmers organizations, industry,government and scientists the steps for “re-shaping and re-positioning” small farm-holder agriculture to make farming economically-viable in the era of WTO regime, WAF Chairman Baker said.

Speaking on the occasion, Bolger noted that the challenge was to feed nine billion people in the world in the next 40 years, up from seven billion now.

“About 800 million to one billion people are left hungry everyday now, out of the world’s population of seven billion.

We have to feed not only these people but also an additional two billion people in the next 40 years. We need to produce 70 per cent more food in the next 40 years,” Bolger pointed out.

The task, therefore, in front of agriculture sector was “immense”. Its not a question if it is possible but its a question of the will. The world can feed itself better if there is a political will, the former Prime Minister observed.

“We need to use all the safe sides to reach the goal of feeding all,” he added. Stating that the WAF was trying to reach out to the world, Bolger said the WAF Congress was for the first time being held outside the US.

source: http://www.newindianexpress.com / Home> Cities> Hyderabad / by PTI- Hyderabad / November 24th, 2012

Private players eye tourism in East Godavari

Union Territory Yanam to have more attractions

The private investors are now concentrating on tourism development in East Godavari district. Their main concentration is on Union Territory Yanam, Kakinada, Rajahmundry,and Rampachodavaram. .

Most of the tourists visit Rajahmundry for boat cruise to Papikondalu and now they are slowly moving to other places such as Koringa, Mada wildlife forests, Antarvedi beach where Godavari joins Bay of Bengal, Kotipalli Revu, Didi Resorts, Maredumilli forest eco-tourism and other places. However, the State Tourism Department has been concentrating on Dindi resorts and Papi Hills and the rest of the tourist spots are neglected for long time.

Now, the Anand Toursim has taken lead in tourism development. As, Yanam is a developing city with regard to tourism and due to location of a number of petro chemical projects in and around Yanam, many foreign tourists are regularly visiting the place.

They prefer to stay in star hotels in Rajahmundry or Kakinada. “Keeping this in mind, we formally launched a three-star hotel in Yanam and would declare it open officially during Yanam Praja festival on January 5 and 6,” said P. Ramakrishna Kumar, vice-president of Anand Regency Hotels.

According to him, the two specially-designed boats for cruise across Godavari river between Rajahmundry and Papikondalu and from Rajahmundry to Bhadrachalam are getting good response with people from different parts of the State and also from West Bengal Orissa, Karnataka, and Tamil Nadu making advance bookings for the cruise. Anand Regency, Yanam has well in advance had planned a big bash on the eve of New Year in an island off Yanam coast. “We have just started cleaning the island and applied for permissions from the forest and other departments,” said Bhaskar, business manager of the hotel.

source: http://www.TheHindu.com / Home> National> Andhra Pradesh / by B.K.S. Bhaskar / Rajahmundry, November 24th, 2012