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Home Blog Page 2605

Swiss authorities raid HSBC offices in money laundering probe

By
K S Rao Kunchala
-

According to the latest reports, Swiss authorities searched the work places of British banking titan HSBC’s Swiss unit in Geneva on Wednesday as a major aspect of a Money Laundering probe that has been blamed for helping customers to evade a millions of dollars in taxes.

The statement given the Geneva’s top prosecutor indicates that an inquiry is right now under path in the bank’s business locales and the money laundering investigation were launched after the late disclosures identified with HSBC Private Bank (Switzerland).

Infosys acquires New Jersey based Panaya for $200 million

By
K S Rao Kunchala
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According to the latest reports, IT giant Infosys is planning to acquire US-based Panaya an Enterprise Resource Planning (ERP) organization for $200 million.

As Infosys CEO Vishal Sikka said, the acquisition of Panaya is a key step in replenishing and differentiating services lines.

“This will help increase the capability of our people, liberating us from the drudgery of numerous repetitive tasks, so we may concentrate all the more on the vital, key difficulties faced by our customers,” He included.

The company’s new strategic move seems to be focusing on Innovation and aimed to beat the anticipated growth in IT service sector.

Two eminent women scientists bag Nayudamma award for 2014

By
KS Rao & Team
-

Two prominent women researchers will receive the prestigious Dr.Y Nayudamma award for the year 2014.

Dr. Tessy Thomas, director, Advanced Systems Laboratory of the Defense Research and Development Organization (DRDO), Hyderabad and Geeta Varadan, director, Advanced Data Processing Research Institute at ISRO, have been picked for presenting the award for their exceptional service in the field of Science and Innovation.

Addressing columnists on Saturday, founder of the Dr. Y. Nayudamma Memorial Trust, P. Vishnu Murthy, said that this is the first time through in the archives of the trust that two prominent women researchers are being simultaneously honored with the prestigious award.

Smartphone Revolution: Samsung unveils budget 4G smartphones in India

By
K S Rao Kunchala
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Confronting growing rivalry from high profile brands like Micromax and Xiaomi, Korean Gadgets titan Samsung on Monday unveiled the Galaxy J1 4G in Indian market to ensure its turf in one of the world’s largest developing Smartphone markets.

The price of the Galaxy J1 4G to be estimated at Rs 9,900 in India.

“In 2015, we plan to present path breaking Innovation across different categories of items, which will upgrade buyer experience and reinforce our position in the market,” Samsung India electronics President and CEO Hyun Chil Hong said.

Samsung will keep on manufacturing its products in India strengthening its dedication to the government’s ‘Make for India’ program, he added.

Foreign Affairs: India, Sri Lanka ink four agreements

By
K S Rao Kunchala
-

As reports say, India and Sri Lanka Monday inked four understandings, including collaboration in the Peaceful uses of nuclear energy and in regards to Nalanda University.

The other two understandings are on collaboration in agriculture and culture.

The key agreements were marked after talks between Prime Minister Narendra Modi and Sri Lankan President Maithripala Sirisena.

The nuclear cooperation agreement is to encourage participation in the exchange and trade of knowledge and expertise.

The agreement on establishment of Nalanda University would empower Sri Lanka to partake in the Nalanda University Project.

The cultural cooperation agreement is meant to upgrade the level of collaboration in a wide mixed bag of fields.

The agricultural cooperation agreement is meant to encourage reciprocal participation in agro transforming.

Steel industry: ThyssenKrupp reports profit for first quarter of financial year

By
K S Rao Kunchala
-

The biggest steel manufacturer in Germany ThyssenKrupp reported a profit for the first quarter of its Financial Year and kept up its 2015 standpoint as Germany’s largest steelmaker saw costs fall.

As reports say, net income was €50 million, in the three months to the end of December, compared with a net loss of €65 million, a year earlier.

“With a weaker euro, our exports are rather stronger now,” said ThyssenKrupp Chief Financial Officer Guido Kerkhoff.

“There is an increasingly positive momentum,” he added.

Insurance major AIG reports profit decrease in fourth-quarter earnings

By
K S Rao Kunchala
-

As per latest reports, the New York based insurance service provider American International Group Inc (AIG) reported lower than anticipated income in the final quarter on Thursday.

The company reported a decay of 67 percent in its net income to USD 655 million,as compared to USD 2 billion, a year earlier.

On Thursday, the shares of AIG declined 1.6 percent at USD 51.62.

The organization also reported a dividend of USD 0.125 an offer and permitted the repurchase of shares worth about USD 2.5 billion.

FMCG in India: ITC acquires Shower To Shower, Savlon brands from J&J

By
K S Rao Kunchala
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ITC Ltd, industry leaders in Tobacco and hotel sectors reported its acquisition of foreign brands in the FMCG space.

As latest reports say, ITC purchased household privileges of Savlon and Shower to Shower from global personal and healthcare services empire Johnson & Johnson.

“The organization went into asset purchase agreements with Johnson & Johnson Ltd, India & Johnson & Johnson Pte Ltd, Singapore Thursday for buy of Savlon and Shower To Shower trademarks and other intellectual property, respectively, primarily for use in India,” ITC said.

As reports say, ITC is targeting to achieve a revenue of Rs 100,000 crore from FMCG businesses by 2030.

World Cup 2015: Cricbuzz launches new World Cup section, targets 75 million users

By
K S Rao Kunchala
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As per latest reports, Cricbuzz, a division of Times internet, is launching a World Cup section across web and mobile.

The strategy behind this idea is to benefit from the significant wave of upcoming cricket tournaments including the World Cup and premier leagues.

Cricbuzz, the biggest versatile application for cricket news and scores in India, was utilized by more than 50 million people.

As reports say, In January, Cricbuzz users spent more than 2.5 billion minutes on the application in January.

Cricbuzz is currently in the main 5 sports applications globally, behind ESPNScoreCenter and the official applications of FIFA and the NFL.

Twitter acquires Niche to strengthen video feature

By
K S Rao Kunchala
-

As per latest reports, Twitter Inc. is buying Niche, a New York based start-up that strengthens the link between video makers and advertisers.

By acquiring Niche, Twitter picks up an ability agency for the Digital Age.

That could help Twitter to develop its promotions business.

As reports say, Niche has more than 6,000 creators and helps more than 100 brands to generate revenue.

Niche’s service may likewise help Twitter’s appeal to promoters who need to achieve a more youthful Audience on new platforms.

Consumer Confidence Index: India second most optimistic nation in Asia Pacific

By
K S Rao Kunchala
-

A new study revealed that India is the second most optimistic country among the Asia Pacific Region after Myanmar.

As indicated by the MasterCard consumer confidence index, India scored 91.6 in the index which is computed with zero as the most pessimistic and 100 as the most optimistic.

In this study, Myanmar topped the list with 97.2 points.

The study involved about 8,235 respondents from 16 nations across Asia Pacific, aged between 18 and 64.

The study discovered that India rates most astounding in its standpoint towards work prospects.

Among the urban areas surveyed in the review, Bengaluru topped the list as India’s most optimistic city with a score of 98.1 followed by Delhi and Mumbai with 97.3 and 87.2 respectively.

 

 

Free internet service in India: Facebook launches Internet.org

By
K S Rao Kunchala
-

Facebook on Tuesday reported a tie-up with Reliance Communications to provide internet services on mobile phones for free, making India the First Nation in Asia to get Internet.org.

The service has already been propelled in Zambia, Tanzania, Kenya, Colombia and Ghana. India now becomes the sixth destination for Internet.org.

“More than a billion people in India don’t have access to the web. That implies they can’t enjoy the same opportunities many of us take for granted, and the whole world is robbed of their thoughts and inventiveness,” Facebook’s CEO Mark Zuckerberg announced the development on his Social Network.

The tie-up gives subscribers of the Anil Ambani-drove Reliance Communications who have Internet-empowered handsets free access to about 38 Websites.

The list includes Facebook, Wikipedia, and Reliance Astrology. The lone search option accessible is Microsoft’s Bing.

They can be gotten to through an Android application.

Banking industry: PNB raises Rs 1,000 cr through long-term bonds for business growth

By
K S Rao Kunchala
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As latest reports indicated, Public sector lender Punjab National Bank has raised Rs 1,000 crore through long-term bonds to fund business development and meet Worldwide capital sufficiency standards.

A part from this, the government has decided to provide Rs 870 crore to the bank as a feature of capital infusion plan.

Finance Minister Arun Jaitley in the Budget had said that “to be in accordance with Basel-III standards there is a necessity to infuse Rs 2,40,000 crore as value by 2018 in our banks. To meet this enormous capital prerequisite we have to raise extra resources to satisfy this commitment”.

Telecom revolution in India: Telecom subscriber base reaches all-time high at 970 million

By
K S Rao Kunchala
-

As per the most recent report by the telecom Regulatory Authority of India (TRAI), the telecom subscriber base in India reached an all-time high of 970 million at the end of December 2014.

The TRAI report says, the quantity of phone subscribers in India expanded from 964.20 million at the end of November 2014 to 970.97 million at the end of December 2014.

The wireless subscriber base in country is currently at all-time highs after it crossed 935.3-million at the end of October 2014.

At the end of December, the aggregate mobile subscriber base reached at 943.9 million.

Luxury car market in India: Mercedes-Benz plans to open 14 new outlets

By
K S Rao Kunchala
-

One of the world’s largest luxury car producers Mercedes-Benz is planning to expand its network in Indian market.

As per latest reports, the company sales performance was impressive in 2014 and they now wanted to expand its network in India to accelerate sales performance.

As part of their 2015 strategy, they are planning to open about 14 outlets in emerging tier II and III cities.

The latest strategic move of Mercedes-Benz shows their aggressive network expansion plan to captivate luxury car market in India.

Acer One 2-in-1 launched for Rs 19,999

By
K S Rao Kunchala
-

According to latest reports, Acer has uncovered the Acer One 2-in-1, which is a tablet and a notebook combined in one.

As reports indicate,the Acer One 2-in-1 will be only available on Amazon at Rs 19,999.

The Acer One will be available with features including a 10-inch Hd(1280x800p) multi-touch display (with 10 point touch).

The Acer One runs Windows 8.1 OS.
When it comes to additional features, it is powered by a 1.3 GHz Intel Atom quad-core processor.

British Telecoms market: BT seals EE deal to dominate national market

By
K S Rao Kunchala
-

BT, one of the world’s leading communication services organisations is currently heading to strengthen its Strategic Partnerships by moving towards new decision makings.

As per latest reports, the BT is making new buying arrangements.

The BT has agreed to acquire Europe’biggest 4G provider EE from Deutsche Telekom AG and Orange SA for £12.5 billion.

EE, which also runs the Orange and T-Mobile brands has about 31 million customers in the U.K.

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