Fw: Cygnus Daily Business Update 27 Apr,10

0 views
Skip to first unread message

G.V.Sandeep

unread,
Apr 27, 2010, 9:20:26 AM4/27/10
to FATP 9, FATP8, IBS Pune, IBS Hyd 2009 Ex batch, DLS 15, DLS 16
 
With regards
G.V.Sandeep
DY Manager
Cygnus Business Consulting and Research Pvt ltd
Hyderabad
9849427085
040-23430203-114
----- Original Message -----
From: Nagamani
Sent: Tuesday, April 27, 2010 5:44 PM
Subject: Cygnus Daily Business Update 27 Apr,10

 
 
 
     
 
 
CygnusDailyBusiness Updates                                                                                    27 April 2010  
 

  

Headlines

 

More Details

 

 

Global Economy

India-Latin America meet to consider $10.39 bn deals

Business proposals worth $10.39 billion (Rs 46,755 crore) will be discussed at a conclave of Indian and Latin American and Caribbean (LAC) firms here later this week. Project proposals worth $10.39 billion will be discussed during the conclave across a wide cross-section of business sectors, including agriculture and food processing, machinery, sugar production, ethanol, contract farming, floriculture, textiles. Collectively, the LAC region is a huge market. Trade between India and the LAC region has risen almost four-fold from $4.2 billion in 2004-05 to $16.1 billion in 2008-09. Indian businesses are also looking at larger footprints in specific regional blocs spread across the South American continent and the Caribbean region on the basis of the success achieved by these trade blocs in promoting trade among the member countries.

 

 

Indian Economy

'Strikes only hurt the economy'

As yet another strike Tuesday paralysed life in West Bengal, industry bigwigs and economists as such agitations only affected the economy of the state adversely without solving important issues like price rise. According to an estimate by the Indian Chamber of Commerce, the total loss due to a 12-hour total strike or shutdown in West Bengal is approximately Rs.496 crore (about USD 100 million) of the state domestic product (SDP) -- the total value of goods and services produced in a financial year within a state. Annually the percentage loss per bandh to gross and net SDP stands at 0.21 percent and 0.2 percent respectively. Such agitations also created an adverse perception about West Bengal among investors, damaged the industrial climate, and triggered socio-political unrest.

 

Rangarajan to head committee on mgt of public expenditure

The Planning Commission announced setting up an 18 member high-level expert committee to suggest measures for efficient management of public expenditure. The committee would be headed by Economic Advisory Council to the Prime Minister Chairman C Rangarajan. The committee will suggest an action plan for abolishing the present system of classifying expenditure into plan and non-plan. The Eleventh Plan (2007-12) document has discussed at length the various anomalies and inconsistencies that arise out of the present classification of expenditure into plan and non-plan categories. These anomalies have hindered the efficient management of public resources.

 

 

 

Industry News

 

Agri biotech

UN calls for agro-investment in developing nations

Responsible investment in agriculture in developing countries can help them tap the enormous potential in farming in the wake of the recent food crisis as per the head of the United Nations trade and development, calling for both national and international efforts to ensure domestic economies benefit. There is an urgent need to invest more in agriculture both to ensure food security and as the basis for long-term economic development. Smart laws and procedures, organisational schemes, and e-government tools that have demonstrated their efficiency in one country could be helpful to other countries confronted by the same problems. According to last year's UNCTAD World Investment Report, global foreign direct investment (FDI) in agricultural production has been increasing. Supachai, however, stressed that that such mounting investment must be not only encouraged, but well managed.

 

 

 

Agri Commodities

Record cherry pick expected from Himachal

Here's some sweet and juicy news - cherry growers in Himachal Pradesh are expecting a bumper crop of the fruit this season owing to favourable weather. Total production is set to touch a record 900 tonnes. The state is heading towards a bumper cherry crop this year with favourable weather during the last winter and this summer. Field reports indicate that the total production would be around 900 tonnes, an all-time high. The state produced 419 tonnes of cherry last fiscal. The output in 2007-08 was 698 tonnes. This time the production is not only wonderful but the colour of the fruit is also better. Even the fruit is quite fleshy. The higher reaches of Shimla, Kullu, Mandi, Chamba, Kinnaur and Lahaul and Spiti are ideal for the cultivation of cherry. At least 10,000 small farmers in the state have grown cherries on 405 hectares as an alternative crop. Even apple growers are opting for cherry cultivation as the fruit requires less chilling hours. The economy of Himachal Pradesh is dependent on horticulture, apart from hydroelectric power and tourism. Besides cherry, apple, kiwi, strawberry, pears, peaches, apricots, almonds and plums are the major commercial crops of the state. The fruit industry is worth about Rs.2,000 crore annually.

 

 

Banking

Bank notes exhibition of RBI begins tomorrow

As part of its platinum jubilee celebrations, the Reserve Bank of India (RBI) will be organising a four-day exhibition from April 27-30 on 'Banknotes issued by RBI'. The exhibition is being organised in the premises of Reserve Bank of India, Central Vista, Sector 17, and Chandigarh. The entry to the exhibition shall be free of cost and it will remain open for public especially school and college students. This exhibition will provide a unique opportunity to the general public to learn about the history of notes and to have a glimpse of the actual old notes. It will be interesting to know that when RBI came into being, notes with the portrait of King George V were in circulation. The first note issued by RBI was that of Rs five followed by other denominations.

 

Internet banking preferred due to benefits

People prefer to use internet banking either because of its benefits or because of peer pressure but rarely because of perceived prestige or celebrity endorsement. The research hints at how banks could improve the spread of internet banking simply by improving the services offered. From a bank's perspective there are many advantages to persuading their customers to adopt internet banking. Primarily, there is the reduction in staffing, which can reduce overall costs, even if information technology and online security systems must be put in place and the reduction in buildings infrastructure required to service customers. There is also the potential for increased revenue through increased transactions and customer activity facilitated by the ease with which they can carry out different tasks online without having to visit a bank's premises. Internet banking is being adopted by customers as a viable alternative to managing their money with approximately 55 million US households routinely using online banking.

 

Kotak Mahindra Financial Services gets DIFC licence

Kotak Mahindra Financial Services Limited, a part of the Kotak Mahindra Group, has got the Dubai International Financial Centre (DIFC) licence enabling it to arrange credit or deals in investment, advise on financial products and credit, and arrange custody from its DIFC-based office. The licence has been awarded to Kotak by the Dubai Financial Services Authority (DFSA) giving it a chance to expand its Middle-East operations. The establishment of Kotak Securities' subsidiary in DIFC, points to the growing investment and financial industry ties between India and the UAE. With both countries playing, increasingly larger roles in the international economy, there are growing opportunities for partnerships between companies in the financial services sectors. The establishment of large financial institutions from India like Kotak Securities in DIFC will help tap these exciting opportunities.

 

  Bulk Drugs

Dr Reddy's launches Amlodipine Benazepril in US

Dr Reddy's Laboratories launched Amlodipine Benazepril capsules, a bioequivalent generic version of Lotrel® Capsules. The United States Food and Drug Administration  (USFDA) granted an approval of Dr Reddy's ANDA for Amlodipine Benazepril. Amlodipine Benazepril is prescribed for the treatment of hypertension  in patients not adequately controlled with either agent and taken once daily. Dr Reddy's product is available in bottles of 100 count capsules.

 

Gems and Jewellery

Gold traders stay away from fresh deals

Gold traders stayed away from entering into fresh deals awaiting a further fall in prices, and a weaker rupee, which made the dollar-quoted asset expensive. International gold, which guides the domestic market, was trading at $1,154.35/1,155.25 an ounce as against the previous close of $1,153.38/1,156.38. The Indian rupee dropped backing further away from a more-than one-week high touched in the previous session as a subdued start to domestic shares and month-end dollar demand from importers weighed.

 

 

Health Care

Piramal Healthcare launches French skincare range 'Avene'

Piramal Healthcare Limited, a leading pharmaceutical and healthcare company and the Pierre Fabre Group, the second largest pharmaceutical group in France, launched a unique derma-cosmetic range, 'Avene'. Indian women today face skin problems which were not prevalent before and therefore they recognized the need of a complete solution for all skin ailments. They are launching eight out of 20 Avene products in India at present and the remaining products will be launched later. They are not manufacturing these products but marketing them in India. They expect a business of Rs 10 crore in the first year after the launch and Rs 25 crore in three years.

 

  

Oil & Gas

ONGC may be asked to set up 4.5-6 MT refinery in Rajasthan

Oil and Natural Gas Corp (ONGC) may be asked to set up a 4.5-6 million tons refinery in Rajasthan if the state government agrees to pick up 26 percent stake in the Rs 9,230 crore project, besides giving a slew of fiscal incentives. The project would not be viable in a country that already has surplus refining capacity without fiscal incentives. Rajasthan government has been pressing for a refinery at Barmer after Cairn found 6.5 billion barrels of reserves that can produce up to 240,000 barrels per day (12 million tons a year) of oil at plateau. ONGC is, however, not keen on the project unless the state government defers local sales tax or extends an interest-free loan of Rs 1,300 crore per year for 16 years, gives free land and water, exempts crude oil from entry tax/cess/octori and central sales tax is waived for 16 years. Besides fiscal incentives, the project cannot be viable without a "bankable and legally enforceable" tie-up with retailing firms for sale of fuel produced at the refinery.

 

Real estate

Office space rentals in India seen stable in 2010

Rents for office space are seen stable in 2010 as increased spending by IT and ITES firms absorbs space put out over the last few quarters, a recent survey by real estate consulting firm C.B. Richard Ellis showed. The market for commercial space in major Indian cities has seen a boost in demand in the March quarter even as rents remain hobbled by excess supply. They don't expect rentals moving up in the near future. The supply is enough, although the market has picked up and office take-up has improved. The rental values in the central business district of New Delhi appreciated by 4 percent over the previous quarter while remaining flat in Mumbai, Chennai, Hyderabad and Pune. The study across seven major cities forecast rents to remain stable overall while they may ease up in New Delhi and Bangalore due to supply beating demand. Telecom, FMCG and pharma companies are also taking up office space, even as the IT-ITES sector which is seeing rising demand continues to be the major occupier.

 

Retail

Wal-Mart ready for multi-branded retailing if rules eased

The world's largest retailer, Wal-Mart, is ready to enter multi-branded retail segment in India within a year of any government decision to open up the sector to foreign direct investment. The Bentonville-based retailing giant's statement comes in the wake of the Indian government considering easing norms for FDI in multi-brand retailing in India. The company wants the government to liberalise the FDI regime in retail in the country and has conveyed this to the concerned authorities several times. Under current rules, foreign players can hold a maximum of 51 percent stake in single-brand retail entity, while FDI in multi-brand segment is prohibited. Wal-Mart currently operates in India under a 50:50 joint venture with Bharti Enterprises in the cash-and-carry wholesale segment where 100 per cent FDI in allowed. The JV, Bharti Walmart Pvt Ltd, has two outlets and plans to expand to 15 stores across the country within three years.

 

 

Telecom

Trai mulls 'do call registry in place of NDNC

The Telecom Regulatory Authority of India (TRAI) is contemplating public consultation on the issue of Do Call Registry in place of NDNC for addressing the menace of Unsolicited Commercial Communication. In view of limited effectiveness of the present regulations and the fact that a large number of complaints are being received, TRAI is contemplating public consultation on the issue of Do Call Registry in place of NDNC for addressing the menace of Unsolicited Commercial Communication. Telecom Regulatory Authority of India had notified the Telecom Unsolicited Commercial Communications (UCC) Regulations, 2007 (4 of 2007) on June 5, 2007 for checking the unsolicited calls and SMS.  Telecom Regulatory Authority of India had notified the Telecom Unsolicited Commercial Communications (UCC) Regulations, 2007 (4 of 2007) on June 5, 2007 for checking the unsolicited calls and SMS. TRAI Regulations have also provisions for higher tariff for the telemarketers making UCC to the subscribers registered in the NDNC and also has a provision for financial disincentives for the service providers who contravene the provisions of UCC Regulations.

 

 

Textiles

Fifth avenue to launch 3 brands

Fifth Avenue Holdings is set to hit the Indian high street with a fashion and food brand mix. The over $100-million firm, which is the parent company of Chennai-based Fifth Avenue Sourcing, will fuse together premium menswear brand Fred Stuart and its knitwear brand, Anteedote, with a food & beverage format called Pasta Bar Veneto. Realising that the fashion and eating-out culture in India was getting more experimentative, Fifth Avenue saw an opportunity in leveraging its sourcing expertise with a retail spread tuned to international offerings. It has roped in a leadership team to power these new verticals. It has outlined an investment of around Rs 45-50 crore for the retail foray, through internal accruals and bank debt, over a five-year period. The Indian clothing market is extremely fragmented and skewed towards casuals with T-shirts being a staple product across regions. They intend to leverage their understanding of sourcing to develop affordable knitwear ranging from Tees to Polos and dresses. Although its flagship stores will bundle together all the three formats, it has adopted a clustered expansion plan initially focused on South India as it intends to tweak its products to suit the different regions.

 

 

 
 

 

 


                        For more details, Please Contact:
                        Cygnus Business Consulting and Research Pvt Ltd.,
                                Plot No: 8-3-948/949, Ist floor, Solitaire Plaza, Behind Image Hospital,
                         Ameerpet, Hyderabad - 500 073
                         Telephone Nos: 040-23430203-05  Fax: 040-23430201
                         website:www.cygnusindia.com
Reply all
Reply to author
Forward
0 new messages