Category Archives: Business & Economy

Tourism awards presented

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

On the culmination of World Tourism Week celebrations on Thursday, the department of tourism presented awards of excellence in various segments of travel and tourism industry in the state.

Tourism Minister Vatti Vasanth Kumar gave away the awards in various categories at a function held at Ravindra Bharathi here on Thursday.

The Golconda Resort and Spa won the best theme-based resort award whereas Jewel of Nizam at The Golkonda won the best restaurant in the state award.

The Park Hyatt, Hyderabad and Hotel Daspalla were awarded the best classified hotels in 5-tar and 4-star categories. Dr YSR National Institute of Tourism and Hospitality Management was adjudged the best tourism educational institution. Ajay Kant Gir for his 1952 Chevrolet Style Line Deluxe, Bharat Reddy for his 1943 Willy’s and Javedd for 1956 Bullet 750 won the awards in Best Vintage Car, Jeep and Motor cycle categories respectively.

“From next year I foresee participation and healthy competition between public sector hotels too with private sector,” said the toursim minister.

Special chief secretary (tourism) Chandana Khan, director of tourism Kantilal Dante, tourism advisor G Kishan Rao, director of archeology P Gayatri, special officer of Shilparamam GN Rao, director of the department of Culture Kavita Prasad Raju and director of NITHM Narayana Reddy were present.

The department of tourism, during the week-long celebrations, conducted programmes like food festivel, release of books and musical programmes, Hyderabad Heritage Run, film screening, vintage car rally and interactive session with stakeholders of tourism sector and inauguration of a sculpture park.

source: http://www.ibnlive.in.com / Home> South> Southern News> Hyderabad / The New Indian Express, Express News Service / September 28th, 2012

 

Krishnapatnam announces $2billion investment to enhance container operations

Business & Economy

  • Indian port already looking to increase container capacity as new terminal opens for commercial operations

Krishnapatnam Port, whose new container terminal commenced operations yesterday, is planning to invest US$2 billion to increase the capacity of the Indian port in the second phase of its expansion, according to the port’s chief executive.

Speaking to the Economic Times, Anil Yendluri said that the port had already invested $1 billion, and is planning to “invest another $2 billion in the next five to six years to increase capacity in both the bulk as well as container segments.”

However, Yendluri declined to comment on how the port would finance such a project, however, he added that private equity fund 3i has an investment in the CVR Group promoted port.

Yendluri added that the first vessel to call at the port’s new container terminal arrived yesterday, and that the new facility has already secured the fortnightly call of a Bengal Tiger Line feeder service.

The new terminal and its two deepwater berths currently boast an annual capacity of 1.2 million TEU – the planned expansion will see Krishnapatnam’s capacity increase to 6 million TEU.

Earlier this year, Krishnapatnam Port overtook Mumbai to become the deepest draft port in India, and is now capable of accepting vessels with a maximum permissible draft of 18.5 meters. Plans are currently in place to increase the port’s draft to as much as 21 meters.

source: http://www.porttechnology.org / September 28th, 2012

City’s floral connection with Africa faces threat

Arts, Culture & Entertainment, Business & Economy, Historical Links, Pre-Independence

Hyderabad does not just boast of famous localities, African Cavalry (AC) Guards and Habsiguda (named after Abyssinia or Ethiopia), but also its rich biodiversity thanks to its “African connection”.
The Nizams had employed soldiers and servants from Africa and some of them had brought “flora mementos” with them to Hyderabad. The best-known flora or tree memento is the baobab tree, native of Madagascar. Popularly known as the elephant tree or Haati ka jhar, the baobab is now an endangered species in Andhra Pradesh. Outside Hyderabad, the tree is revered as “kalpavriksha” in parts of the State.

Two of these kalpavriksha trees were felled during the lane widening of the Vijayawada-Hyderabad National Highway and laying of the Outer Ring Road in Hyderabad. Now only four baobab trees remain in the State, one of them in the Golconda Fort. Baobab is scientifically called Adansonia digitata and many people in Andhra Pradesh believe it has magical or mystical powers. These trees are more than 150 years old.

Another African tree quite popular for its lovely reddish-orange flowers is Spathodea campanulata or the African tulip tree. Though it is an alien invasive species, it failed to spread much in the State. Its existence is also threatened. A number of bird species depend on this African tree. Says Dr Shaik Mahmood, head of department of botany, Nizam College, Osmania University, “These exotic plant species have made Hyderabad their home. They are of great environmental and taxonomical importance and add to the local biodiversity. We need to protect the remaining endangered trees from extinction.”

source: http://www.DeccanChronicle.com / Home> Channels> Cities> Hyderabad / DC,  Hyderabad / September 28th, 2012

Saina as thrilled at Sindhu’s showing as her Rs.40 crore deal

Business & Economy, Sports

New Delhi, Sep 19 (IANS)

London Olympic bronze medallist Saina Nehwal is as delighted at her Andhra colleague Pusarla Venkata Sindhu’s “brilliant showing” in the Chinese Masters Super Series as she is at inking a Rs.40 crore three-year deal with a sports management company.

Saina, who has taken a break after the London Games, sounded quite excited about Sindhu’s showing. She sees it as giant leap forward for Indian badminton.

“Sindhu played brilliantly at Changzhou last week to beat London  gold medallist Li Xuerui and I believe it is a clear sign of the upward movement in Indian badminton,” Saina told IANS from Hyderabad.

“I hope my medal will inspire more and more people and also popularise the sport even more in the country.”

The 22-year-old Saina will be back competing in three weeks from now when she plays in the Denmark Open Premier Super Series (Oct 16-21) and then in the French Open Super Series (Oct 23-28).

“I just needed some time out. I had been playing continuously right up to the Olympics as I really wanted to win the medal. I was so tired I badly needed a break,” said the Hyderabadi, who is back training fully.

“I am training like I used to earlier; seven hours a day. I am trying to get back my speed and momentum and with time I will get better.”

What did she do during the break?

“Not much. I was quite busy with all those felicitations and attending functions. I was in Tirupati over the weekend on a thanksgiving trip. What all I achieved in life is all thanks to the God.”

She also utilised the time in tying up some of her long-pending endorsements, the biggest being the Rs 40-crore deal with Rhiti Sports Management Company, which also markets India’s cricket captain Mahendra Singh Dhoni.

“Before the Olympics I was busy with the tournaments and practice. And now I have been spending time with functions and felicitations. However, I started training last week and I will be back for Denmark and French Open next month.”

As for her sudden spurt in endorsements after London, she says it’s a good deal.

She has nine brands going and her new management company is negotiating with three more corporates for her to endorse.

“Yeah it is a good deal, the management company I believe got three-four endorsement offers but I actually have to hear from them about the products I am going to endorse.

“Frankly, the offers started coming even before the Olympics through the Deccan Chronicle which was managing my affairs, but at that time I just wanted to concentrate on the London Games, so I refused them. I did not even know about the products I was to endorse as I refused them blindly without looking at them.”

Back to badminton, Saina had an excellent chance of adding another Super Series title had she not pulled out of the ongoing Japan Open as the Chinese players cried off saying the political situation in Japan was not conducive to playing in the tournament.

Saina was quick to say that she would have preferred to win a tournament with all the top Chinese playing than without them.

“I’d rather win a tournament with top Chinese players playing than without them. I have played against them in the past and beaten most of them,” said the World No.4.

Asked what’s going to be her next target, now that she has won an Olympic medal, she said: “I don’t fix targets. Yes, I wanted to win an Olympic medal and I now have one. Perhaps, I would like to change the hue of the medal next time around in Rio. But that is a long way off and I can’t say what will happen in the next four years.”

What about a World Championship medal, after all it’s a major prize?

“I am not really after it, but a top-three position there would be great. I want to go slow and take match-by-match,” added Saina, who these days is also promoting badminton in her own way.

source: http://www.newstrackindia.com / Home> Others / IANS / New Delhi, Sports / Wednesday, September 19th, 2012

ISB competition for social entrepreneurship ideas

Business & Economy, Education
Indian School of Business students at the graduation ceremony in Gachibowli (file photo). — Photo: Nagara Gopal / Business Line
Hyderabad, SEPT 13:

Do you have an idea that has a potential to make a social impact? The Indian School of Business (ISB) has announced iDiya, a nationwide idea competition for working professionals who are interested in starting ventures with a potential to create a positive impact on society.

“The competition seeks to promote scalable and sustainable businesses in the fields of agri-business, health, education, energy, environment, women’s empowerment and disability,” an ISB statement said here on Thursday.

This year’s ISB iDiya Challenge is being organised by about 767 students of the Class of 2013 at the ISB.

The ISB has called for entries for the fourth ISB iDiya Challenge. Those who are interested can submit their ideas online at www.isb.edu/iDiya. The last date for submitting the applications is September 30.

iDiya, which was started in 2009 by students, is a platform for social entrepreneurs with venture capital funds and experts from different fields. This has caught the imagination of not only the students and professionals but also of institutions such as Nabard, Upaya, Social Ventures, Ckinetics and Villgro.

The total investment opportunity for the ideas selected through ISB iDiya this year has increased by four times to Rs 1.73 crore.

Winners in the last three years have been funded and mentored by some prominent names in the industry such as Acumen fund, Intellecap, Unitus capital, Grey Matters Capital, Mumbai Angels and Wadhwani Centre for Entrepreneurship Development at ISB.

Last year’s ISB iDiya Challenge winner was ‘SMV Wheels’, a venture based out of Varanasi that helps rickshaw pullers to fulfil their dreams to become self-employed.

kurmanath.kanchi@thehindu.co.in

source: http://www.TheHinduBusinessLine.com / Home> Industry & Economy> Marketing / by K. V. Kurmanath / September 13th, 2012

Hyderabad Angels invests Rs 2 crore in green company

Business & Economy
Hyderabad:
Hyderabad Angels, a network of angel investors, said on Friday it will invest Rs 2 crore in Green India Building Systems and Services Pvt. Ltd (GIBBS).
The investment is led by serial entrepreneur Sashi Reddi.
“GIBSS is the leader in green building systems with their USP (uniqueselling proposition) of pay-from-savings model,” Reddi said in astatement. “Coupled with the low payback periods, GIBSS’ state-of-the-art disruptive technologies have a huge market potential.”
Apart from infusing funds in GIBSS, Hyderabad Angels will also mentorthe company and fuel its “disproportionate business growth,” Reddisaid
GIBSS promotes the use of energy-efficient products and solutions inbuildings. Its portfolio comprises geothermal cooling systems, hotwater co-generation systems, lighting and indoor air quality systems.
source: http://www.livemint.com / Live Mint & Wall Street Journal / by Yogendra Kalavalapalli / Friday, February 24th, 2012

Minister for Housing Uttam Kumar Reddy inaugurated two-day All India Students Conference of Company Secretaries in city today

Business & Economy, Education
Report by India Education bureau; Hyderabad:

The two-day 13th All India Students Conference of Company Secretaries kicked off here at Hyderabad today at the Global Peace Auditorium, Gachibowli, Hyderabad. The conference with the theme – ‘Company Secretary (CS) – The Corporate Leader’ was inaugurated by Chief Guest Capt. N. Uttam Kumar Reddy, Minister for Housing, Government of Andhra Pradesh. Prof. (Dr.) Faizan Mustafa, Vice Chancellor, Nalsar University; Mr. CS Nesar Ahmad, President, The Institute of Company Secretaries, New Delhi and many others graced the inaugural session.
Speaking on the occasion Uttam Kumar Reddy said a good Company Secretary is a valuable asset to the company.  In a globalised economy Indian companies have to compete and business environment also becomes complex.  Company secretary role is critical as he guides them in statutory processes.  Adding further he stated that India would soon over take China in the growth of its GDP, he said.
Addressing the gathering Prof. (Dr.) Faizan Mustafa, Vice Chancellor, Nalsar University said India is all about tolerance.  India is about management of diversity.  India’s retains the distinctive identity as the most diverse nation.  India’s management of diversity is the best management of diversity in the world, he said and added that  Company Secretary can play a vital role in managing this diversity in corporate governance.
Speaking on the occasion, Mr. CS Nesar Ahmad, President, The Institute of Company Secretaries, New Delhi said their mission is to be a Global leader in promoting good corporate governance.  Our mission is to develop high caliber professionals facilitating good corporate governance.  The Council of the Institute formulated the top ten goals for the period of 2011-2014. Some of the these include developing a Cadre of Competent professionals, Improving infrastructure, improving the visibility of the profession and providing leadership on global map etc and others.
To globalise the profession, the ICSI has approached the Commerce Ministry for inclusion of a new Head for Corporate Governance and Company Secretarial Services under the Services Sectoral Classification List of the WTO. The institute has also sought support from parallel institutes in various countries of the world.  The response is encouraging he said.
Eminent Economists, Academicians, Senior Executives from Government and experienced Professionals addressed the participants during the day. The conference is hosted by Hyderabad Chapter of The Institute of Company Secretaries of India (ICSI).
The conference is attended by about 1500 delegates from different parts of the country comprising of students of Company Secretary Course, Chartered Accountants, Cost Accountants, College Students, Corporate Executives, Advocates, practitioners, etc. The conference is being organized here in city after a gap of 14years, they stated.
Company Secretaries are expected to add value as full-fledged corporate managers, corporate leaders and guide the boards to take the right decisions that are in line with the ethical and moral standards, meet the norms of good corporate governance and are not in conflict with the laws of the land. The conference will provide opportunities for participants to upgrade their knowledge and know the ever developing requirements of the profession.
The Conference has sub-themes such as Companies Bill 2011, Role of CS as a strong leader; CS – a key Governance, Risk & Compliance Professional; Emerging Avenues & Newer vistas – Future Transformation of CS; Leadership from the Front; Communicate to conquer; Technology – Strong enabler; Integrity, Ethics & Core Values; and Personal and Professional attributes for success. The themes are designed in such a manner that they impart knowledge on the students that will help them in pursuing their dream.
There have been lot of interactive sessions for the students who attend the conference. Panel discussion with the President, Council members and other office bearers of the ICSI; Interactive session with student speakers; Mock AGM; Mock Board meetings; etc. were .  Participants were given complete insight into the profession.
source: http://www.indiaeducationdiary.in / Home / Friday, September 07th, 2012

Vijayawada’s Krishnaveni Union looking to expand

Business & Economy

Targets to procure 30,000 litres of milk this financial year

The Krishnaveni Krishna District Milk Producers Cooperative Union will target procuring 30,000 litres in the current financial year expanding its current size of 20,000 litres.

The Krishnaveni Union Chairman Bullaiah Chowdhary said that they collect about 22,000 lt. in a lean season and 30,000 litres at the peak, but processing is done only to the tune of their market share of 20,000 litres for all milk products put together.

The union currently procures milk from 245 centres and proposes to enhance it to 489 centres and currently it has 12 Bulk Milk Chilling Units, which would be augmented by 12 more in the year ahead.

Currently it gives 2,000 litres to the Andhra Pradesh Dairy Development Cooperatives Federation Ltd. to be picked up by other unions or get it processed for products at the Sangam Dairy in Vadlamudi in Guntur district. No preservatives like formalin or neutralizers are added and strict quality is maintained, he said.

The union gets the milk processed at the Kankipadu milk factory with a 50,000 litre capacity. Vijayawada city has a total consumption of about 3.25 lakh litres of milk in both domestic and commercial segments and it has a very small share of 20,000 litres with Krishna Union (Chittinagar) taking the major chunk of 2 lakh litres marketing. He blamed several milk unions and private operators for vitiating the milk market by creating unhealthy competition by offering additional percentage of commission to the vendors and capturing them.

The Krishnaveni Union also proposes to open parlours in the city at vantage points to improve its presence and sell its products in retail. Mobile veterinary vans have been pressed into service and regular cattle health camps are organised, he said.

source: http://www.TheHindu.com / Home> News> Cities> Vijayawada / by Special Correspondent / September 07th, 2012

Rs 20 cr loans disbursed among 13,000 farmers

Business & Economy

Rajahmundry (AP), Aug 28 (PTI)

Loans worth Rs 20 crore have been provided to over 13,000 farmers through various banks in the East Godavari district, its Collector Neetu Prasad said.

During a meeting with the agriculture officials and bankers regarding loans to loan eligibility card tenant farmers in the district held yesterday, Prasad said so far 13,305 tenant farmers have been provided Rs 19.03 crore worth loans through various banks.

In all, 65,842 tenants farmers have been provided loan eligibility cards out of which 13,305 farmers received loans. She urged the bankers to provide loans to all loan eligibility card holders in the district

The agriculture department has already forwarded 10,000 loan applications to various banks, she said adding that the loans will be provided by this week.

The bankers urged the collector to set up loan recovery teams and urged for stringent action against the defaulters.

PTI COR GK GK / source: http://www.ibnlive.in.com / Home> Wires / PTI / August 28th, 2012

Enchanting ride to Araku on the cards

Arts, Culture & Entertainment, Business & Economy

A train emerging out of a tunnel on way to the picturesque Araku Valley in Visakhapatnam district. / Photo: K.R. Deepak / The Hindu

Two tourist coaches proposed to be attached to Visakhapatnam-Kirandul passenger

Tourists travelling to Araku by train may soon find the journey more enjoyable and pleasant.

On a plea made by Union Minister of State for Human Resource Development D. Purandeswari, the Railway Ministry recently asked the Government of Andhra Pradesh to send a proposal on launching a tourist train from Visakhapatnam to Araku.

As a first step in this direction, two tourist coaches with chair car facility are proposed to be added to the Visakhapatnam — Kirandul passenger during the tourist season commencing Dasara and continuing up to March.

During the tourist season, all the coaches are generally full with hardly any space to sit.

The train passes through long tunnels along the hills and valleys, which gives an exhilarating experience to tourists.

But, passengers fail to enjoy the scenic beauty, as they hardly have space to sit properly in the overcrowded train. Many sit on the upper berth as the doorways and windows are full of ‘peeping passengers’.

This has been robbing passengers of the most delightful experience year after year.

“The 1 VK passenger runs with 11 coaches during normal time. But during the tourist season, additional coaches are augmented to meet the extra rush of passengers.

“The steep gradient, however, allows only a maximum of 14 coaches,” Divisional Railway Manager Anil Kumar told The Hindu on Tuesday. On the proposal to introduce vista dome coaches for the Araku train, he said such coaches had to be specially made and could take time.

“We are yet to receive any communication on the tourist train or the tourist coaches from the zonal headquarters,” he said.

Shortage of rakes

The Visakhapatnam — Sai Nagar Shirdi weekly express and the Visakhapatnam — Chennai weekly express trains, which were proposed to be operated as regular trains in the 2012-13 budget, couldn’t be launched so far due to non-availability of rakes, he said.

On diversion of through trains via Duvvada, Mr. Anil Kumar agreed with the view that there was no need for diversion as there were sufficient platforms at Visakhapatnam now.

source: http://www.TheHindu.com / Home> News> Cities> Visakhapatnam / by B. Madhu Gopal / August 29th, 2012