Category Archives: Events Facts

Wal-Mart Might Not Function Under Its Name in India

It has been revealed in a recent report that Wal-Mart might not be able to function under its brand name from now on. This was recently revealed as the brand is ready to launch its operations in India. It was revealed by Rajan Bharti Mittal, from MD Bharti enterprises that when the brand comes to India, it will be adopted in an Indian model and will be named according to the specific requirements of the Indian markets.

Wal-Mart is a huge chain of enterprises primarily from the US and functions in a few other nations as well. It is the first tie it is entering the Indian retail market, due to huge potential in the country. It is a matter of time to see how the shopping fanatics of the country will find solace in this world renowned brand and will make it an instant hit in no time.

For now, it is functioning in countries like Mexico, Japan and a few other nations, under different names, suiting the needs of those nations.

“Our partnership with Wal-Mart will take a natural progression and we will start having a dialogue on how to take it forward keeping in mind the fresh development on FDI”, revealed Mr. Mittal. It was further added that they hope the firm will bring great success to the nation’s retail business and will work well for both the partners.

Wal-Mart sure wants to be functioning under their own brand name in India, but time will tell what is more suited according to the needs of the Indian markets, and then the decision will be taken accordingly. Many know about the huge brand name but many still don’t. This might be one of the contributing factors towards making a decision.’

Francis Maude Announces Joint Cyber Unit

As an attempt to save the United Kingdom from the continuously increasing threat of cyber crime the Cabinet Office Minister, Francis Maude, has announced some plans yesterday. In addition, the minister notified to open a latest Joint Cyber Unit at the Government’s GCHQ eavesdropping centre as an attempt to widen the country’s military ­capability in cyberspace as well.

The move is believed to have a significant influence from the biggest threat of Chinese “cyber warriors” where a group of notorious hackers in the Chinese army is alleged to steal millions of pounds of industrial secrets from several European companies.

Consequently, on Friday, the minister has revealed the newly outlined cyber security strategy. Under the spell of the move some top secret technologies created at the government’s giant eavesdropping centre GCHQ are entitled to be offered to private industries.

“Up until now, some of the clever things that have been developed have just sat on a shelf. GCHQ may not know how to use it, but private companies may be able to”, notified a Whitehall source while insisting for the need of feasible environment. In addition, the source has notified that the GCHQ will be serving as a clearing house for any acknowledged information.

Sources have confirmed that the authorities have invested more than £650m for establishing the police cyber crime unit and expressed confidence that the move will surely play a key role to minimize the cases of criminal gangs, hostile states, and terrorist attacks as well as other anti-social activities.

Mr. Maude notified that the suggested cyber crime unit will be starting to perform its operations soon, most probably by 2013, and will be acting as a part of the National Crime Agency. Further, he notified plans that can enable the police to make best use of existing powers.

Samsung Google TV to Arrive in 2012

Samsung Google TV would hit markets by next year and company officials have claimed that their products would be different from league.

There are sure that their TV sets being different from their competitors would become an advantage to them and would give stiff competition to their opponents. TV Department President Yoon Boo-keun said he would not refute allegations that they were going to launch their TV this year, but they could not as their product was quite similar to Google’s TV partners Logitech and Sony.

But, the incident has not dropped Samsung’s spirits down and they have been working really hard to get their product in the market by 2012. There is no end to problems as now LG is also working out to introduce its new model before Samsung.

For now, Google TV comes out with union of Sony Corporation and Logitech International set-top boxes which gives its viewers freedom to access internet on their TV screens. They could access internet videos as well as ‘m’ number of websites and there is a treat for video game lovers as they could play any video game on their TV screens.

All the above features would be present in Samsung with some additional features as well. Some of them being Google TV-enabled Blu-ray player and there have been many other offers as well which have been kept as a secret and would be unveiled at the launch date.

Not only they will introduce a complete package, but are also working to introduce sleekest TV screen which would double the fun. Yoon said they have been through quite ups and downs but never gave up. There is no doubt that they still have been witnessing stiff competition but are also sure that they would sail through.

New National Manufacturing Policy This Month, Says Administration

The administration stated that it is expected to come forward with a National Manufacturing Plan by the end of September 2011 that aspires to generate mega industrial zones crosswise the nation with top-notch infrastructure facilities.

Commerce and Industry Minister Anand Sharma said, “The note (for the policy) will go to the Cabinet within a week. I do not foresee any delay. Hopefully within this month, it will become a reality.”

The national manufacturing plan eyes to generate 100 million extra jobs and take the share of manufacturing to 25% of India’s gross domestic product by the year 2020 as against 15-16%.

The section adds more than 80% to India’s total industrial production.

The plan also aimed to relax labour and environment regulations and looked for tax sops for the projected National Manufacturing Investment Zones (NMIZs).

These proposed big enclaves could even consider SEZs.

On the determined $90 billion Delhi-Mumbai Industrial Corridor (DMIC), Mr. Sharma stated that seven novel investment areas would be established crosswise the six Indian states under the project.

These two measures would assist unlock the true prospective of manufacturing in the country.

He also stated that the initial gathering of a Joint Task Force of the administration and industry will take place on September 12.

The Joint Task Force was declared after the minister held talks with CII on July 13.

Force Motors Launches First SUV Force One at Rs 10.65 lakh

Force Motors, is reported to have launched its first SUV Force One, and at Rs 10.65 lakh in Delhi, and the company is using the drivetrain technology gotten from Mercedes-Benz for the SUV, as its Passenger Vehicle Division spent the last one year or more to develop the new SUV.

Also, the company hopes to sell 4,000 units of the SUV in the first year, as the market size for the sector is about 70,000 units a year and the SUV is said to compete with, Mahindra Scorpio, Toyota Innova and the Tata Safari.

However, Force Motors intends to invest Rs 1,000 crore, in the next two years to boost its manufacturing footprint, and the company is presently discussing with the Madhya Pradesh Government to start a new manufacturing plant, with the decision being finalized in the next two months.

Hence, funds are said to be raised by combining of internal resources and loan, as the company might follow the capital market route as well as propose a rights issue.

Moreover, Dr. Abhay Firodia Chairman of Force Group, Stated: “The company may set up a new assembly line at its Pithampur facility or set up a third plant outside the state, and the installed capacity of the new line will be 12,000 units per annum that can be expanded to 24,000 units”.

Biocon Q1 Net Slumps 9% To Rs 70 Crore

For the three month period ended June 2011, Biocon’s consolidated net profit declined around 9% to Rs 70.05 crore as compared to the same period of last year.

The company’s net sales remained up by more than 10% to Rs 441.68 crore.

The earnings disappointed the street leading to more than 4% slump in the biotechnology firm’s shares during the early trade.

At 10:30 hrs, Biocon scrip remained down by 2.8% to rule at Rs 360.15 on NSE.

The company stated that the outcomes for the year-ago quarter comprised Rs 11.52 crore in profit from performances of AxiCorp gmbh that has since been sold.

During the month of April, Biocon SA had decided to sell its 70% equity stake in the German drug distribution arm.

Exclusive of the discontinued functioning, Biocon’s net profit surged 7.4% during the quarter under review.

Consolidated operating profit margin stayed flat at 27.5% year-on-year.

Biocon stated that there was a “healthy” augmentation in profit from its core manufacturing and services businesses, but there was lower licensing income recognition during Apr-June period.

Murali Krishnan, president, group finance stated, “Licensing income from our partnered programmes will see a high degree of variability given the inherent nature of licensing recognition that is linked to development and regulatory timelines.”

The company added that the licensing revenue is likely to strengthen during the coming quarters.

During April-June period, while income from Biocon’s biopharma biz surged 8% y-o-y, domestic branded formulations biz augmented 28%.