Culture

Hotelivate partners AM Hotel Kollection for hotel management service
Culture

Hotelivate partners AM Hotel Kollection for hotel management service

Hospitality consulting firm Hotelivate’s founders have announced a partnership with AM Hotel Kollection for hotel management and marketing services. The partnership will launch a collection of 20 hotels, with over 600 rooms, under management and marketing contracts.The portfolio consists of independent and franchised hotels with distinctive qualities that have been brought together under the branding and management of AM Hotel Kollection. Manav Thadani, Founder-Chairman of Hotelivate, said, “Our experience of asset management over the past decade is being taken a step further with this partnership. Our endeavour is to grow these existing 600-plus rooms into the largest hotel management and marketing company in the region, with a focus of driving revenues to the bottom line for the asset ow...
Hariom Pipe Industries files IPO papers with Sebi
Culture

Hariom Pipe Industries files IPO papers with Sebi

Hariom Pipe Industries has filed draft papers with capital markets regulator Sebi to raise ₹100-120 crore through an initial public offering. The Initial Public Offering (IPO) comprises sale of 85 lakh equity shares of the company, according to the Draft Red Herring Prospectus (DRHP) filed with Sebi. Net proceeds from the initial share sale will be used to fund its capital expenditure, working capital requirements and towards expenses for general corporate purposes. According to market sources, the IPO is expected to fetch ₹100-120 crore. Headquartered in Hyderabad, the backward integration-focused company has a strong hold on its steel products with wide distribution network across India. The third generation entrepreneur-led company has a diverse product portfolio consisting of Mild Ste...
Vijai Kishan talks on how Fidelity Investments India adapted Agile to suit its needs
Culture

Vijai Kishan talks on how Fidelity Investments India adapted Agile to suit its needs

Across the world, corporates are aggressively investing in the Agile transformation of their organisations to meet the demands of the market during the pandemic. In an interaction with BusinessLine, Vijai Kishan, Head – Personal Investing, Fidelity Investments India talks about how the company adapted to the “new way living, working and being.”Are the rules for agile transformation being rewritten following the pandemic?To me, it makes all the difference whether an organisation pursues agile transformation just for the sake of it or if it does so because it truly believes in the value such a transformation can bring. At Fidelity, we began our agile journey way before the pandemic hit. We were among the first financial service organisations in the US to implement agile principles at scale. ...
CRISIL upgrades Bank of India’s Tier-I Bonds rating
Culture

CRISIL upgrades Bank of India’s Tier-I Bonds rating

CRISIL Ratings has upgraded its rating on the Tier-I bonds (under Basel III) of Bank of India (BoI) to ‘AA/Stable’ from ‘AA-/Stable’. The credit rating agency has also assigned its ‘AA+/Stable’ rating to the public sector bank’s ₹1,800 crore Tier-II bonds (under Basel III). The upgrade in the rating of Tier-I bonds (under Basel III) factors in improved position of BoI to make future coupon payments, supported by an adjustment of accumulated losses with share premium account, and the improved capital ratios, CRISIL said in a statement. “Pursuant to the adjustment, the eligible reserve to total assets ratio for the bank has improved,” it added. Additionally, as per the Department of Financial Services Gazette notification of March 23, 2020, referred to as Nationalised Banks (Management and ...
Single window portal for investors launched with 9 States
Culture

Single window portal for investors launched with 9 States

Commerce and Industry Minister Piyush Goyal launched the single window portal for investors and businesses on Wednesday, which is to become a one-stop-shop for investors for all approvals and clearances.The National Single Window System (NSWS) would usher in Azadi  from legacy of running to government offices and add to both ease of doing business and ease of living, Goyal said at the launch. “The portal as of today hosts approvals across 18 Central Departments and nine States and another 14 Central Departments and five States will be added by December 2021,” according to an official statement. The NSWS will provide end-to-end facilitation and support to investors, facilitate clearances at Centre and State levels, provide pre-investment advisory to new businesses and share informatio...
KPIT Technologies to acquire Future Mobility Solutions for up to €15.6 mn
Culture

KPIT Technologies to acquire Future Mobility Solutions for up to €15.6 mn

KPIT Technologies on Wednesday said it will acquire Future Mobility Solutions GmbH (FMS) for up to €15.6 million (about ₹135 crore).“... the Board of Directors of the company, at its meeting, has approved the acquisition of initial 25 per cent shareholding in FMS. Over a period of three years, KPIT will acquire the balance shareholding,” KPIT Technologies said in a regulatory filing.Timeline of acquisitionThe first tranche of 25 per cent will be completed in September 2021, and 100 per cent acquisition is expected by the last quarter of FY 23-24, it added.“The total consideration for 100 per cent shareholding will not exceed 15.6 million euros,” it said.FMS is engaged in software and feature development in autonomous driving, ADAS (Advanced Driver Assistance Systems) and vehicle safety, an...
Taliban names Afghan UN envoy, asks to speak to world leaders
Culture

Taliban names Afghan UN envoy, asks to speak to world leaders

The Taliban have asked to address world leaders at the United Nations in New York this week and nominated their Doha-based spokesman Suhail Shaheen as Afghanistan’s UN ambassador, according to a letter seen by Reuters on Tuesday.Taliban Foreign Minister Amir Khan Muttaqi made the request in a letter to UN Secretary-General Antonio Guterres on Monday. Muttaqi asked to speak during the annual high-level meeting of the General Assembly, which finishes on Monday.Taliban vs IR of AfghanistanGuterres’ spokesperson, Farhan Haq, confirmed Muttaqi’s letter. The move sets up a showdown with Ghulam Isaczai, the UN ambassador in New York representing Afghanistan’s government ousted last month by the Taliban.Also see: UN refugee chief says agency will engage TalibanHaq said the rival requests for Afgha...
How the Sony Pictures deal can add value for Zee Entertainment investors
Culture

How the Sony Pictures deal can add value for Zee Entertainment investors

The Zee Entertainment (Zee Ent) stock is up almost 30 per cent in the trading today, after it announced a merger (non-binding) with Sony Pictures (SPNI). The Zee Ent-SPNI deal positions the combined company well for a streaming future, as it pools the large volumes of content and production operations, digital assets and industry experience of two of India’s leading media companies. This announcement follows the trend seen in the international media space such as the recently announced $80-billion (equity value) merger between Warner Media and Discovery Inc and the acquisition of 21st Century Fox (media empire of Rupert Murdoch) by Disney for $71 billion in 2019. Ever since streaming (as the way to consume entertainment) started becoming a dominant theme, the mantra for success has shifted...
Xiaomi introduces the Redmi Smart TV series in India
Culture

Xiaomi introduces the Redmi Smart TV series in India

Redmi India, a sub-brand of Xiaomi India, on Wednesday, announced the launch of its new Redmi Smart TV series.The series is the latest addition to the brand’s TV portfolio. The launch includes the Redmi Smart TV Series in 32-inch (80 cm) & 43-inch (180 cm) variants. The new line-up supports HD-ready display on the 32-inch variant with a resolution of 1,366 x 768 pixels and full HD display on the 43-inch variant, a resolution of 1920 x 1080 pixels. The series support the ‘Vivid Picture Engine’ technology for better display.The devices also support dual-band wi-fi with 2.4GHz/5GHz on HD/FHD display along with Bluetooth 5.0 for connectivity.The TVs are also equipped with two USB 2.0 ports, an Ethernet port, an AV port, and a 3.5 mm jack.As for audio, the TVs feature 20 W speakers and supp...
Trojan posing as IT refund attacks bank customers with Android phones
Culture

Trojan posing as IT refund attacks bank customers with Android phones

A banking Trojan malware has been detected in Indian cyberspace attacks bank customers using Android phones and has already targeted those from more than 27 public and private sector banks, the country’s federal cyber security agency said in a latest advisory.The phishing (a social engineering computer virus attack to steal personal data) malware is masquerading as an “income tax refund” and it can “effectively jeopardise the privacy of sensitive customer data and result in large-scale attacks and financial frauds”, the CERT-In advisory issued on Tuesday said.“It has been observed that Indian banking customers are being targeted by a new type of mobile banking campaign using Drinik android malware,” it said.“Drinik started as a primitive SMS stealer back in year 2016 and has evolved recent...