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    Business Wire India

    MetLife, Inc. (NYSE: MET) announced that it has hired Maya Kiyokawa as a director in the Institutional Client Group of MetLife Investment Management (MIM). Kiyokawa will lead new business development in Japan and will be based in Tokyo.

     

    Prior to joining MetLife, Kiyokawa served as director of the alternative product sales department in Japan for Teneo Partners. Prior to that, she served as a senior consultant at Osborne Incorporated. She has also held senior roles at Deutsche Asset Management (Japan) Limited and Fidelity Investments Japan Limited in senior client services roles.

     

    “Maya is an excellent addition to the team at MetLife Investment Management in Asia,” said Joseph Pollaro, chief operating officer of MIM. “Her international relationship management background, which includes more than16 years of direct experience and more than 25 years of valuable professional experience, will be an asset to MetLife as we grow MIM’s institutional asset management business in Asia, a vital and growing market for us.”

     

    The addition of Kiyokawa to the MIM team in Japan reflects both the business’ commitment to the region and the importance of the market to MetLife’s investment management business. As part of her role, Kiyokawa will build partnerships with retirement funds, insurance companies, government funds and trust banks to raise MetLife’s profile and visibility in Japan. Her experience will be leveraged to build relationships in private debt and equity markets for real estate, infrastructure and corporate private placement bonds.

     

    Kiyokawa holds a bachelor’s degree in commerce and business administration and accounting from the University of Alabama.

     

    MetLife Investment Management (“MIM”) is MetLife’s institutional investment management business. MIM is responsible for investments in a range of asset sectors, including corporate and infrastructure private placement debt, real estate equity, commercial mortgage loans, customized index strategies, structured finance, emerging market debt and high yield debt.

     

    About MetLife

     

    MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates ("MetLife"), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

     

    L0117489261[exp1217]

     

     



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    Business Wire IndiaValentine Day is not even century old, but still has a style of its own, swiping all into the air of love and romance. Juniors or seniors equally weave their plans for the day or linger on past memories of this love day. Due to change in lifestyle privileges and preferences, many yearn to devise a time of seclusion in some serene and beautiful spot with their nearest and dearest one. Even Physicians recommend a break from the chronic and frantic days to retain a healthy equilibrium in life rather than wait for a sudden breakdown.
    With an inclination towards history, one is sure to opt for Shah Jahan’s love monument for this auspicious day and modern day population would prefer the palm lined white beaches of Andaman. Taking a break from the dreary routine and moving for a gala romantic episodes is sure to be an irresistible invitation for anyone.
     
    UAE Exchange, the leading travel service provider with IATA Accreditation and Ministry of Tourism approved, has come up with special valentine packages for Agra and Andaman open till February 13th 2017. Aspirants for special valentine episodes at these enticing locations can visit any of 376 counters located across the nation or book your Valentine space through www.uaeexchangeindia.com.
     
    Exclusive star-lit night at Agra or visit to second highest brick minaret of Qutab Minar or witness the spectacular beauty of Corbyn’s Cove Beach or sightseeing tour of North Bay Island and much more. Get prepared to celebrate the festival of love with UAE Exchange India. Happy Valentine’s Day! 

    About UAE Exchange India
     
    UAE Exchange India is an accredited Passenger Sales Agent by IATA with 9 IATA locations spread in the metropolitan cities of Delhi, Mumbai, Hyderabad, Chennai, Mangalore, Kochi, Trichy, Trivandrum and Calicut. UAE Exchange India provides a whole basket of travel and financial services to customers with affordable and world-class experience. UAE Exchange India is one of the pioneers of financial services renowned for its penchant quality and optimized service in Foreign Exchange, Money Transfer, Air Ticketing & Tours, Loans, XPay Cash Wallet, Insurance and Share Trading.

    Website: www.uaeexchangeindia.com

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    Business Wire India

    Ascential plc, the global business-to-business media company listed on the London Stock Exchange, today announced that it has agreed to acquire 100% of MediaLink, a U.S.-based advisory and business services firm.

     

    This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170207005806/en/

     

     

    A private company, MediaLink is a business that drives competitive advantage through advisory business services for a wide range of companies spanning early stage to established global entities across the media, marketing, advertising, entertainment and technology industries.

     

    Duncan Painter, Chief Executive Officer of Ascential said:

     

    MediaLink is a leader in its industry, with a strong and very visible brand presence in the U.S.MediaLink is an excellent fit with our existing Ascential offering and I am confident we can help accelerate MediaLink’s business into new markets by using our assets and infrastructure over the coming months and years. I see synergies between MediaLink and our portfolio of products to significantly help accelerate our existing businesses and create additional value for shareholders.”

     

    Founded in 2003 by Chairman and CEO Michael Kassan, MediaLink employs 120+ employee in the U.S. The company will further strengthen and accelerate Ascential’s business strategy, which is to own scaled, global, market-leading businesses and brands in marketplaces where it offers trusted information and valuable connections to business professionals.

     

    Michael Kassan, Chairman and CEO of MediaLink commented:

     

    “This is a transformational moment for MediaLink. Propelled by the global footprint of Ascential and the combined resources and talent of our organisations, we are going to write the greatest chapter in MediaLink history. We look forward to collaborating to pursue growth and new opportunities for both companies.”

     

    Kassan will continue as Chairman and CEO of MediaLink, working closely with Painter to integrate and accelerate the business, leveraging Ascential’s assets and infrastructure over the coming months and years.

     

    MediaLink has worked with Cannes Lions’ customers since 2011. Neutrality is a key focus of both businesses, and they will be run independently. MediaLink will continue to build on its relationship with Cannes Lions and start new ones with other Ascential products where appropriate.

     

    The transaction is expected to complete, subject to customary U.S. regulatory clearance, within the next month and, upon completion MediaLink will form part of Ascential’s Information Services division. Aryeh Bourkoff’s LionTree Advisors acted as financial advisors to MediaLink with LionTree Partner Ben Braun serving as principal advisor.

     

    ENDS

     

    Notes for Editors:

     

    About MediaLink

     

    MediaLink operates at the intersection of media, marketing, advertising, entertainment and technology, delivering companies the advice, partners and opportunities it needs to enable change and drive actionable solutions. Unlike any other company in the strategic advisory space, MediaLink helps companiesexecute in the core areas of revenue acceleration, industry marketing, investor strategy, data and technology solutions, and talent (including retained Executive Search). Founded in 2003 by Michael E. Kassan, MediaLink employs 120+ professionals in New York, Chicago, Los Angeles and San Francisco. www.medialink.com

     

    About Ascential plc

     

    Ascential plc is a leading global business-to-business media company that informs and connects the business world in 150 countries through market-leading Exhibitions & Festivals and Information Services. Ascential powers the prestigious Cannes Lions festival for the branded communications industry, the world's premier payments and financial services congress Money20/20, Spring Fair/Autumn Fair, the global fashion trend forecasting service WGSN and environmental risk data business Groundsure. 15 of Ascential's 19 continuing product lines occupy number one positions. Ascential’s premium products enable focus, growth and value. The company provides customers with world class content and connections empowering their businesses to be the best informed and best connected. www.ascential.com

     

     
    MULTIMEDIA AVAILABLE :
    http://www.businesswire.com/news/home/20170207005806/en/



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    Business Wire IndiaAxilor Ventures today announced that it plans to accelerate its investments in early stage startups. It is looking to double the intake of startups for its 100-day accelerator program, the applications for which are currently open. In the last two years since inception Axilor has supported 30 startups through its accelerator program and invested in over 20 startups through its investment programs. Axilor’s fast growing portfolio now includes startups in AI, Enterprise, Fintech, Consumer Internet and Healthtech.
     
    Talking about the outlook for startups, Kris Gopalakrishnan, Chairman of Axilor Ventures said, "We are getting ready for the second wave of startups. A fast growing base of online consumers, an enabling public digital infrastructure, growing pool of founders with prior startup experience and increase in early stage seed capital are creating the conditions for this second wave."

    Watch 10 Reasons why you should apply to Axilor's Accelerator Program: https://www.youtube.com/watch?v=6o5haRAzpuo

     
     
    Commenting on how the accelerator program improves the odds of success of startups, Ganapathy Venugopal, Cofounder and CEO of Axilor said, "In an uncertain funding environment, Axilor's accelerator program is a great opportunity for entrepreneurs to scale their startups and become investible quickly. 70% of the startups from the last batch have successfully moved to their next stage - half of them have already secured funding, one has been acquired and the others are in advanced stages of pilots. The program enables them to accelerate progress, sign up customers and get funded, quickly."
     
    On the upcoming Summer batch, he said, "We have one of the most founder-friendly programs and are seeing great response to our call for applications." Axilor is looking to double the intake of startups to its upcoming Summer '17 accelerator batch. The program is open to early stage startups focused on Artificial Intelligence, Enterprise, Fintech, Consumer Internet and HealthtechThe program’s uniqueness lies in a cohort-based structure with focused sector mentoring and market access. With specific partnerships for each of these sectors, startups get a ready launch pad for their products, acquire early customers and can grow business quickly.
     
    Applications for the Summer '17 accelerator program are currently open. To learn more and apply visit www.axilor.com. The applications close on 23 February, 2017 and the batch is scheduled to start in March ’17.

    About Axilor Ventures
     
    Axilor Ventures is a platform for supporting early stage startups. Through its accelerator and seed fund programs, it helps early stage startups improve their odds of success. It was founded by some of the iconic entrepreneurs and business leaders, which include Kris Gopalakrishnan, S D Shibulal, Professor Tarun Khanna, Srinath Batni and Ganapathy Venugopal. In the last two years, it has supported more than 40 startups, made 20 investments and has an active Alumni network of 80+ founders.
     

    Social Media Handles –
     
    Twitter: @AxilorVentures

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    Business Wire India

    Project Management Institute’s (PMI) latest research shows that for the first time in five years, more projects are meeting original goals and business intent while being completed within budget — and that fewer projects are deemed failures.

     

    Findings unveiled in PMI’s 2017 Pulse of the Profession®: Success Rates Rise: Transforming the High Cost of Low Performancedemonstrate that last year organizations around the globe reduced the average amount of money they wasted on projects and programs by 20 percent compared to the previous year. Specifically, the study found that, globally, organizations wasted an average of $97 million for every $1 billion invested in projects and programs in 2016, compared to an average of $122 million per $1 billion in the year prior.1

     

    The report determines that organizations are becoming more mature with project management and are distinguishing themselves by:

     
    • Developing project management talent. Developing technical, leadership and business skills for the management of projects continues to draw significant attention. Thirty-two percent of survey respondents consider both technical and leadership skills a high priority — a 3 percent increase over last year.
    • Managing project benefits. There’s growing attention to benefits realization management, which is the collective process of identifying benefits at the outset of a project and ensuring, through purposeful actions during implementation, that the benefits are realized and sustained once the project ends. One in three organizations (31 percent) reports high benefits realization maturity.
    • Establishing Project Management Offices (PMOs) and strategic Enterprise Project Management Offices (EPMOs). Organizations can bridge the gap between high-level strategic vision and implementation with a project management office (PMO). Among organizations in the survey that have a PMO, half report having an enterprise project management office (EPMO). And those that align their EPMO to strategy (i.e., have a strategic EPMO) report 38 percent more projects meet original goals and business intent and 33 percent fewer projects are deemed failures.
    • Driving executive sponsorship. Actively engaged executive sponsors continue to be the top driver of whether projects meet their original goals and business intent. That fact was not lost on survey respondents, who revealed an increase in the percentage of their organizations’ projects with actively engaged sponsors compared to last year — an average of 62 percent compared to 59 percent, respectively.
    • Addressing agile approaches. Organizations increasingly embrace agile as a technique for managing projects. A full 71 percent of organizations report using agile approaches for their projects sometimes or more frequently.


    “We are encouraged to see that organizations are making significant progress and experiencing more success with implementing strategic initiatives and delivering intended project benefits,” said PMI President and CEO Mark A. Langley. “We have long advocated that project management is essential for any organization’s success and are excited that others are increasingly realizing this fact as well. Organizations that invest in proven project management practices waste 28 times less money because more of their strategic initiatives are completed successfully.”

     

    Of the industries included in the study, healthcare reported the highest average waste on project spending. A more detailed breakout of several key industries included in the study, ranked from highest to lowest, demonstrates the range of efficiency achieved:

     

    Healthcare – $112 million per $1 billion
    Telecom – $106 million per $1 billion
    Energy – $101 million per $1 billion
    Manufacturing – $98 million per $1 billion
    Government – $97 million per $1 billion
    Financial Services - $97 million per $1 billion
    Construction – $94 million per $1 billion
    IT – $78 million per $1 billion

     

    Of the geographic regions covered in the study, specific markets stood out. India reported the lowest average monetary waste on projects ($73 million per $1 billion), followed by both China and the Middle East ($82 million per $1 billion). Conversely, Europe reported the highest average waste on project spending at $131 million per $1 billion. 2

     

    The 2017 Pulse of the Profession features feedback and insights from 3,234 professionals globally who represent diverse levels of experience and industries, including government, information technology (IT), telecom, energy, manufacturing, healthcare and construction. The global totals in the report represent feedback from North America, Latin America, Europe, the Middle East and the Asia Pacific region.

     

    About Project Management Institute (PMI)

     

    Project Management Institute is the world's leading not-for-profit professional membership association for the project, program and portfolio management profession. Founded in 1969, PMI delivers value for more than 2.9 million professionals working in nearly every country in the world through global advocacy, collaboration, education and research. PMI advances careers, improves organizational success and further matures the profession of project management through its globally recognized standards, certifications, resources, tools academic research, publications, professional development courses, and networking opportunities. As part of the PMI family, ProjectManagement.com and ProjectsAtWork.com create online global communities that deliver more resources, better tools, larger networks and broader perspectives. Visit us at www.PMI.org, www.facebook.com/PMInstitute and on Twitter @PMInstitute.

     

    1 Figures are U.S. dollar amounts, but represent a percentage that applies to any currency.

     

    2 Figures are U.S. dollar amounts, but represent a percentage that applies to any currency.

     

     



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    Business Wire IndiaThe respective Boards of Max Speciality Films (MSF) and Max Ventures and Industries Limited (MaxVIL) today approved the induction of Toppan Printing Co. Ltd, Japan (Toppan) as a joint venture partner with a 49% stake[1] in MaxVIL’s flagship manufacturing business - MSF.
     
    The new partnership with Toppan, a multinational corporation with interests in Information & Communication, Living & Industry, and Electronics, will help strengthen the speciality films business and serve as a testimony of MaxVIL’s commitment to expanding its manufacturing business.
     
    Established in 1900, Toppan (Market Cap of US$ 6.8 bn) will serve as a strategic partner in MSF and share their expertise in managing a global speciality films business, as well as, leverage their global sales network. Under this partnership, Toppan, which is a large global buyer of BOPP products (MSF’s key offering), will also serve as a customer of MSF.
     
    As part of the partnership, Toppan will invest approximately INR 200 crore, through a combination of primary and secondary share issuance. The investment by Toppan is subject to customary closing conditions, including but not limited to shareholder or other approval(s).
     
    MSF has undertaken key expansion efforts in the past 12-18 months. The MSF Board last year approved an investment of INR 250 crore to set-up its 5th BOPP line, which will help augment production capacity by a significant 60% to over 70,000 tons per annum. A substantial portion of the proceeds from this transaction will be utilized for MSF’s on-going capacity expansion.
     
     The transaction will also result in MaxVIL’s treasury corpus growing to INR 290 crore, including the expected capital infusion of INR 148 crore from the New York Life subsidiary and MaxVIL promoters, announced in January 2017.

    Speaking of the investment, Mr. Analjit Singh, Founder & Chairman Emeritus of the Max Group and Chairman of MaxVIL said, “We are delighted to welcome Toppan to an already illustrious set of joint venture partners in the Max Group, which includes Japan-based Mitsui Sumitomo Insurance, South Africa’s Life Healthcare and Bupa Finance from the UK. I am confident that their partnership and strategic support will play an instrumental role in setting MSF’s future growth trajectory. We have worked successfully with Japanese companies and are most pleased to continue our friendship with Japan.”
     
    Mr. Sahil Vachani, Managing Director of MaxVIL said, “Toppan’s industrial experience of over 100 years, their expansive global sales network and cutting-edge technological capabilities make them an ideal partner for us at this juncture in MSF’s journey. I am confident the partnership will provide us the necessary global market access and technological support to drive long-term growth in new and existing markets.”
     
    Speaking of the development, Mr. Shingo Kaneko, President & Representative Director of Toppan Printing Co. Ltd, said, “We see enormous opportunity in India and in this business specifically. MSF has emerged as a front-runner in their unwavering commitment towards R&D and constantly innovating and upgrading technology to stay at the top of the leader-board across a wide field of applications from labelling to flexible packaging. We are excited to partner them and help the business scale new heights.”  
     
    MaxVIL is the newest entity in the Max Group of companies that came into existence after the erstwhile Max India Group was demerged into Max Financial Services Limited, Max India Limited and Max Ventures and Industries Limited (MaxVIL). MaxVIL has four distinct business verticals Max Speciality Films (Manufacturing), Max Estates (Real Estate), Max Learning (Education) and Max I. (providing intellectual and financial support to high-potential start-ups). MaxVIL is listed both on BSE and NSE. Other investors in MaxVIL include International Finance Corporation (IFC) and Reliance Mutual Fund.
     
    The transaction is subject to customary closing conditions, including and not limited to receipt of shareholder approval.
     
    Transaction Advisors
     
    Ambit acted as the financial advisor to MSF and MaxVIL. Daiwa acted as the financial advisor to Toppan. AZB & Partners (Delhi team) acted as legal advisor to MaxVIL and Shardul Amarchand Mangaldas (Delhi team) acted as legal advisor to Toppan.


    About Max Ventures and Industries Limited
     
    Max Ventures and Industries, is the holding company of Max Speciality Films, an innovation leader in the Speciality Packaging Films business. In addition to manufacturing, the Company also serves as the Group’s entrepreneurial arm to explore the ‘wider world of business’, especially taking cues from the economic and commercial reforms agenda of the present Government, including ‘Make in India’, ‘Skill India’, ‘Digital India’, among others. With this vision, MaxVIL has incorporated three new subsidiaries, which are Max Estates, the real estate arm of the Max Group with the vision to bring the Group’s values of Sevabhav, Excellence and Credibility to the Indian real estate sector, Max I. Limited, a fully owned special purpose vehicle, will facilitate Intellectual & Financial Capital to promising and proven early-stage organizations across identified sunrise sectors and Max Learning Limited, which is focused on the education sector.

    MaxVIL is listed on both the Bombay Stock Exchange as well as the National Stock Exchange. As on date, MaxVIL has 53,454,008 outstanding shares at a face value of Rs 10 per share. The current promoter shareholding in MaxVIL is 45.06%.
     
    About Max Group
     
    The Max Group is a leading Indian multi-business conglomerate with a commanding presence in the Life Insurance, Health & Allied businesses and packaging sectors. In FY 2016, the Group recorded consolidated revenues of Rs 14,237 Cr. It has a total customer base of 9 million, nearly 240 offices spread across India and people strength of 22,500 as on 31st March 2016. The Group’s investor base includes marquee global financial institutions such as Goldman Sachs, KKR, IFC Washington, Fidelity, Wasatch, Ward Ferry, Nomura, New York Life and Invesco.
     
    The Max Group comprises three holding companies, namely Max Financial Services, Max India and Max Ventures & Industries.


    For further information, please visit:
     
    Max Group: www.maxgroup.net
    Max Ventures & Industries: www.maxvil.com
    Facebook: https://www.facebook.com/themaxgroup
    Twitter: https://twitter.com/maxgroup
     
     


     

    [1] On a fully diluted basis
     

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    Business Wire IndiaQ3 FY2017 Results Highlights:

    • Max Healthcare Network of Hospitals Gross Revenues: Rs. 639 Cr., grew 16%
    • Max Healthcare Network of Hospitals EBITDA: Rs. 63 Cr., grew 17%
    • Max Bupa Gross Written Premium: Rs. 140 Cr., grew 24%
    Max India Ltd. (Max India), Max Group’s listed company in the Health and Allied Services sector, today announced its financial results for the third quarter of FY2017 (Q3 FY2017).

    Max Healthcare (MHC), Max India’s flagship operating company, reported Gross Revenues of Rs. 639 Cr. in Q3 FY2017 for its network of owned and managed hospitals, growing 16% over the corresponding period last year. MHC, which is an equal joint venture with South Africa-based Life Healthcare, reported a 17% growth in network EBITDA to Rs. 63 Cr. for the same period.

    The growth in profitability was driven primarily by improvement in margins from the company’s newer hospitals in Shalimar Bagh (Delhi), Dehradun, Bathinda and Mohali. In the first 9 months of FY2017 (9M FY2017), MHC’s Gross Revenues grew 23% to Rs. 1,939 Cr., while EBITDA grew 34% to Rs. 203 Cr. over the corresponding period last year. During 9M FY2017, a significant proportion of revenue contributions came from MHC’s major tower specialities, with Renal Sciences leading revenue growth at 36%.

    Max Bupa Health Insurance (Max Bupa), one of India’s leading standalone private health insurers, also reported significant growth in its topline with Gross Written Premium (GWP) of Rs. 140 Cr. in Q3 FY2017, growing 24% over last year and 23% for the first 9 months of 2017 over last year. The business now covers 1.2 million urban retail customers.

    One of the fastest growing players in the segment, Max Bupa is now the country’s 8th largest private health insurer overall and 4th largest amongst standalone private health insurers in India. Max Bupa was awarded “India’s Most Valuable and Admired Health Insurer 2016” by Pharma Leaders, an annual recognition to honour excellence in the healthcare sector.

    Antara Senior Living (Antara), the third operating company under Max India, is pioneering the concept of ‘Age in Place’ for the elderly by developing Senior Living communities in India. Antara will launch its maiden community with 200 apartments in Q4 FY2017 near Dehradun, Uttarakhand.

    Commenting on Max India’s performance, Mr. Rahul Khosla, Chairman, Max India said, Our key healthcare specialities, including Neurosciences, Oncology, Orthopaedics and Renal Sciences have contributed to strong growth this year. In addition, MHC’s new business initiatives, such as Oncology Day Care, Digicare and Max Labs, have also started showing encouraging results. There will be significant effort over the next few months in scaling up and stabilising growth across these new service lines. I am pleased with Max Bupa’s performance and strong position in the market and am looking forward to welcoming Antara’s first residents this year.

    Mr. Mohit Talwar, Managing Director, Max India, added, “With over 20% growth in revenues so far this year, Max Healthcare continues to outpace its key competitors. Max Bupa has also seen a growth of 24% in its B2C segment this year, and is the 5th largest private health insurer in this segment. The market has taken cognisance of this and has responded extremely favourably since the Max India stock started trading in July.”

    In January 2016, the Max Group concluded an important corporate restructuring wherein the erstwhile Max India was demerged into three separate entities, Max Financial Services, Max India and Max Ventures & Industries. With the listing of the Max India stock in July 2016, all three demerged companies of the Max Group are now listed.


    About Max Group

    The Max Group is a leading Indian multi-business conglomerate with a commanding presence in the Life Insurance, Health & Allied businesses and packaging sectors. In FY 2016, the Group recorded consolidated revenues of Rs 14,237 Cr. It has a total customer base of 9 million, nearly 240 offices spread across India and people strength of 22,500 as on 31st March 2016. The Group’s investor base includes marquee global financial institutions such as Goldman Sachs, KKR, IFC Washington, Fidelity, Wasatch, Ward Ferry, Nomura, New York Life and Invesco.

    The Max Group comprises three listed companies, namely Max Financial Services, Max India and Max Ventures & Industries.
     
    About Max India Limited

    Max India, the holding company for Max Healthcare, Max Bupa Health Insurance and Antara Senior Living, is focused on health and allied businesses. Max Healthcare and Max Bupa Health Insurance are joint ventures with global leaders Life Healthcare (South Africa) and Bupa Finance Plc. (UK), respectively. These businesses have well-entrenched positions in their respective categories, and are recognized for their outstanding service standards. The Company owns and actively manages a 45.95% per cent stake in Max Healthcare, a 51% stake in Max Bupa Health Insurance and a 100% stake in Antara Senior Living.
     
    Max India is listed on both the Bombay Stock Exchange as well as the National Stock Exchange.
     
     
    For further information, please visit:
     
    Max Group: www.maxgroup.net
    Max India: www.maxindia.com 
    Facebook: https://www.facebook.com/themaxgroup 
    Twitter: 
    https://twitter.com/maxgroup
     
     
     
     

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    Business Wire IndiaBrickwork Ratings is pleased to announce that the interactive session on “Indian Economy: Changing Global Economic Environment” was very well received. The session was delivered by Dr. M Govinda Rao, Chief Economic Advisor of Brickwork Ratings at the Trident, Nariman Point, Mumbai on 10th Feb 2017.

    While addressing at the event, Dr. Govinda Rao stated, “Despite being a bright spot in an otherwise dismal global environment, India faces formidable challenges and risks in maintaining high growth”. The international environment is peppered with protectionist tendencies, risks of exit from monetary easing, rising interest rates and a possibility of commodity price increase. According to the CSO’s quick estimates, even without considering demonetization, economy has slowed down in every sector except agriculture and public administration. The Gross Fixed Capital Formation for the current year is estimated at 26 per cent which is the lowest in the last 20 years. The twin balance sheet problem has created the crisis of confidence. Reviving the economic climate is the key to accelerating growth. The interactive session’s focus was on the domestic and international situation, the initiatives in the budget, impact of GST and to explore the policy measures needed to take the economy to higher growth trajectory.

    Dr. Govinda Rao further quoted that “The difficulty lies, not in the new ideas, but in escaping from the old ones which ramify …into every corner of our minds”, John Maynard Keynes in The General Theory of Employment Interest and Money.

    Mr. Vivek Kulkarni, Founder Managing Director of Brickwork Ratings, said “India continues to be the growth star in the galaxy of world economies. While the brave demonetisation might have resulted in lower growth in the short term, the long-term effects would be highly positive. We expect higher transparency in accounts, relatively higher share of formal economy and increased tax collections in the future. India however faces challenges in job creation with the new Trump administration stand on visas for IT professionals.”

    Mr. D Ravishankar, Founder Director of Brickwork Ratings, speaking at the sidelines of the event, highlighted that Brickwork Ratings Credit Ratings Behaviour Ratio (BWR CRBR is defined as Rating Upgrades / Rating Downgrades) for the first half of FY 2017 stood at 1.92. CRBR is the lead indicator of the direction of the performance of the economy & the corporate sector. BWR CRBR for first half of FY17 is lower than the previous period, it signifies that the performance is likely to be marginally lower than the previous year. However, when CRBR is higher than one, it indicates that the number of rating upgrades is higher than the rating down-grades and as such the direction of the economic and corporate performance is overall positive.

    Mr. K N Suvarna, President-Business Development, Brickwork Ratings, highlighted that the rating requirements for new issuances of Bonds / NCDs was relatively lower in the months of November & December, 2016, the need for rating requirements has gone up from January ’17. The increased activities confirm the urgent need for corporates to capitalise on the current lower interest regime and equip them with sufficient funds for meeting the growth opportunities.

    The program concluded with vote of thanks to all speakers and participants.


    About Brickwork Ratings

    Brickwork Ratings (BWR), a SEBI registered Credit Rating Agency, accredited by RBI and empanelled by NSIC, offers Bank Loan, NCD, Commercial Paper, MSME ratings and grading services. NABARD has empanelled Brickwork for MFI and NGO grading. BWR is accredited by IREDA & the Ministry of New and Renewable Energy (MNRE), Government of India, to grade companies seeking credit facilities from IREDA, Renewable Energy Service providing Companies (RESCOs) and System Integrators (SIs).

    Brickwork Ratings is founded by bankers, credit rating professionals, former regulators as well as professors and has Canara Bank, a leading Private Sector Bank, as its Promoter and Strategic Partner.

    BWR has its Corporate Office in Bengaluru and a country-wide presence with its offices in Ahmedabad, Chandigarh, Chennai, Guwahati, Hyderabad, Kolkata, Mumbai and New Delhi along with representatives in 150+ locations.

    BWR has rated a large number of debt instruments/bonds/bank loans, MSMEs, Fixed Deposits, Commercial Papers etc. BWR has rated over 30 PSU/ Public Sector Banks, as well as many major private players. Brickwork has a major presence in ULB rating of nearly 100 cities. BWR also has a major presence in rating of security receipts. BWR also rates debt mutual funds, Basel Bonds as well as PPMLD (Principal Protected Market Linked Debentures).

    BWR's ratings for large corporate customers, MSMEs, banks, financial institutions, state and local governments, help investors understand the complexity of the investment world.

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    Business Wire India

    Moody’s Analytics announced that it has been selected by Chong Hing Bank (CHB) as a strategic partner for implementing a comprehensive suite of solutions for the customer credit lifecycle. These include loan origination and credit risk measurement technology, as well as risk advisory, training and certification services.

     

    “We are very pleased to provide Chong Hing Bank with the tools to succeed in today’s competitive lending environment. Moody’s Analytics technology, advisory services, and training programs will help strengthen CHB’s loan origination and underwriting capabilities,” said Noah Berliner, Managing Director at Moody’s Analytics.

     

    By integrating the RiskCalc™ credit scoring tool into its RiskOrigins™ platform, Moody’s Analytics will deliver a combined solution to streamline CHB’s corporate lending processes and facilitate better and more transparent loan origination decisions.

     

    In addition, CHB will implement a tailored learning solution developed by Moody’s Analytics, which blends an industry-leading online curriculum with targeted workshops to sharpen staff analytical skills and promote a more robust credit risk culture. Staff who complete the program will be issued Moody’s Certificate in Commercial Credit (CICC), a designation that is recognized by prominent professional standards associations, including by the Institute of Banking and Finance Singapore.

     

    “This partnership with Moody’s Analytics will help to significantly enhance risk assessment processes in our corporate segment and elevate the risk awareness and expertise of our staff,” said Rockson Hsu, Chief Risk Officer at CHB. “The modern risk management tools delivered by Moody’s Analytics provide CHB with an enterprise-wide corporate lending platform aligned with industry best practice.”

     

    Learn more about the Moody’s Analytics credit assessment and loan origination solution: RiskOrigins

     

    Learn more about the Moody’s Analytics credit risk measurement solution: RiskCalc

     

    Learn more about Moody’s Analytics Credit Training and Certification programs: Blended Learning Solutions

     

    Learn more about Moody’s Analytics Risk Management Advisory Services: Advisory & Implementation

     

    About Moody’s Analytics

     

    Moody’s Analytics helps capital markets and risk management professionals worldwide respond to an evolving marketplace with confidence. The company offers unique tools and best practices for measuring and managing risk through expertise and experience in credit analysis, economic research, and financial risk management. By providing leading-edge software, advisory services, and research, including the proprietary analysis of Moody’s Investors Service, Moody’s Analytics integrates and customizes its offerings to address specific business challenges. Moody's Analytics is a subsidiary of Moody's Corporation (NYSE: MCO), which reported revenue of $3.5 billion in 2015, employs approximately 10,900 people worldwide and maintains a presence in 36 countries. Further information is available at moodysanalytics.com.

     

    About Chong Hing Bank

     

    Chong Hing Bank (formerly known as “Liu Chong Hing Bank”) was founded in 1948. The Bank is listed on the main board of the Hong Kong Stock Exchange. The Bank with its Head Office in Hong Kong and 43 local branches, together with its subsidiaries and affiliates, offers a wide range of banking solutions to individual and corporate customers, which include HKD and foreign currency deposits, credit, wealth management, investment, securities, insurance, mandatory provident fund and other commercial banking products. The Bank has branches in Guangzhou, Shenzhen, Shantou and Macau, sub-branches in Guangzhou Tianhe, Foshan, Nansha and Hengqin, and representative offices in Shanghai and San Francisco.

     

    Chong Hing Bank has been a member of Yue Xiu Group since 14 February 2014. Yue Xiu Group was established in Hong Kong in 1985. As at the end of 2015, Yue Xiu Group had total assets exceeding RMB400 billion, which is the largest state-owned enterprise group in Guangzhou in terms of asset size with leading performance in overall economic efficiency. For other information about Chong Hing Bank, please go to the Bank’s website www.chbank.com.

     

     

     

     



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    Business Wire IndiaSixty years on, and the character of John Galt from Ayn Rand’s 1957 masterpiece Atlas Shrugged still holds relevance. Like many iconic figures in the past who have challenged the status quo, this time it is Jignesh Shah – the poster boy of Indian financial markets – who has been compared to John Galt in the book ‘The Target’ by Shantanu Guha Ray.

    Shantanu shows how Jignesh Shah’s life story bears a startling resemblance to that of John Galt. Like Galt, Shah too believes in the power and glory of human innovation and is fighting a collectivist social and economic structure that embraces mediocrity in the name of egalitarianism.
    The book takes you through the fascinating journey of Jignesh Shah in revolutionizing the financial markets. Shah, through his organization FTIL, (now 63 moons technologies limited) disrupted our financial markets by introducing futuristic products and solutions in the fintech industry. He did not stop there. Shah went on to realize his lifelong ambition of getting into the exchange business. Within a period of 10 years, FTIL had created 10 world-class exchanges across the world. All his businesses were leading players in the market, demonstrating Shah’s zest for excellence similar to that of John Galt.

    Like all heroic stories, there are many roadblocks too in the journey of Jignesh Shah. Shantanu shows how our modern day society is no different from the world created by Ayn Rand in her 50’s novel. The role of oppressive bureaucratic functionaries in targeting Jignesh Shah and his group FTIL is strikingly similar to that of John Galt’s world.

    We can only hope that Jignesh Shah will also bounce back like John Galt and justify his comparison to the legend.

    Summary

    Stories are written by writers who know the crux and the situation of what one character goes through during the turbulent times. Ayn Rand’s masterpiece, ‘Atlas Shrugged’, is one such book. The protagonist of the book, John Galt is an iconic figure even after 60 odd years. Today, Jignesh Shah, the poster boy of Indian financial market is being compared to the iconic character in Shantanu Guha Ray’s ‘The Target’. The book shows the journey of a visionary who introduced cutting-edge solutions and the roadblocks he had to face against the bureaucratic nexus.

    Social Media Handles –

    Facebook: https://www.facebook.com/shantanu.g.ray

    Website: http://thetarget-book.com/

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    Business Wire India
    The strong motive to eradicate polio from the nation leads the community health centres in Hyderabad to join the government’s Pulse polio programme 2017.  Around 17 crore children of less than age five across the nation were given polio drops for eradicating polio from the nation completely. As a developing country the significant public health milestone of India is the certificate declaring elimination of yaws and maternal and neonatal tetanus from World Health Organisation in 2016.
     
    UAE Exchange India in association with Rotary Club of Hyderabad supported the pulse polio programme on National Immunization Day with the help of Primary Health Centres at SR Nagar, ESI & Sanathananagar in Hyderabad. Employees from UAE Exchange Nizampet & Errragadda branches went along with the medical officers for spreading Polio awareness in respective areas.
                                                            
    “Health is better than wealth”, a little care at the right time can eradicate polio that cause paralysis of body parts. As a responsible corporate institution, UAE Exchange supports nation to sustain the polio free certification from World Health Organisation.

    About UAE Exchange
     
    UAE Exchange India is one of the pioneers of financial services renowned for its penchant quality and optimized service trends, creating a niche for itself in the industry. Connecting people and creating progress with the finest of quality is the vision of the company that has an extensive reach of 376 branches serving a population of 1.25 million people under the proficient support of 3375 employees. The company has been instrumental in providing cost-effective service in Foreign Exchange, Outward Remittance, Money Transfer, Air Ticketing & Tours, Loans, Insurance and Share Trading. UAE Exchange Mobile App – “Xpay Cash Wallet” provide seamless options for customer ranging from Instant Money transfer, Mobile /DTH Recharge, Gifting Services etc ensuring safe & secure digital/mobile payment platform.

    Website: www.uaeexchangeindia.com

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    Business Wire IndiaUAE Exchange India announces distribution of Computers to selected Govt. schools to impart computer knowledge among children. As part of company’s CSR activity, it aims to empower students with the basic knowledge of computers that helps them to be updated with the latest technology.
     
    Giving back to the community has always been a part of our company culture. It’s our responsibility to give younger generation a better education platform for bringing up the best brains of tomorrow,” shared by Mr. V George Antony, MD, UAE Exchange India.
    Schools fulfilling the below criteria are requested to send their school name, address, contact person, mobile number over email to csr@uaeexchange.co.in on or before 26th February 2017.

    • School should be a Government run school
    • School should have classes from 1st to 10th standard
    • School should have minimum 500 students
    UAE Exchange India has presence in 376 locations across the nation with financial products like Foreign Exchange, Travel & Ticketing, Money Transfer, Gold Loan, Vehicle Loan & Personal Loan, XPay & Share Trading to cater the varied needs of customers. UAE Exchange India started in 1999 and has around 4000 employees serving more than one million customers across the nation.

    Website: www.uaeexchangeindia.com


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    Business Wire India
    We’re talking about DSP BlackRock Mutual Fund’s Digital ad campaign on their Tax Saver Fund. The campaign shatters the stereotype of being ‘safe’ (read: predictable) that is often associated with financial advertising. January marks the beginning of the tax season and typically sees people get caught up in a frenzy of calculations on how to save tax. “With this campaign, we wanted to simply pique people’s curiosity and suggest DSP BlackRock Tax Saver Fund as an effective remedy to their tax-saving needs,” said Abhik Sanyal, Head - Consumer Marketing, DSP BlackRock Investment Managers. “The solution came from Mio, our digital creative partner on this campaign, who diagnosed this state of frenzy as  Taxytis,” (pron. tax-eye- tis), he added.
     
    Jaidev Kapadia, Creative Group Head, Mio said, “We were given a simple insight – Tax planning can drive people crazy. We turned that into a full-blown seasonal condition.”

    With three spiffing YouTube films that tell the story of a Taxytis survivor, the campaign is all – digital with a little support from cinema. It includes conversations around #Taxytis across social media platforms on Facebook and Twitter. A series of web banners leads viewers to dspblackrock.com/taxytis, where they can find information on  Taxytis and also get the cure for it. Not just that, they can compare options and calculate how much to invest. Once you do the calculation, whether you suffer from Taxytis or otherwise, you’ll know that DSP BlackRock Tax Saver Fund is an investment option more than worthy of your consideration.
     
    Aditi Kothari Desai, EVP and Head - Sales, Marketing & E-Business, DSP BlackRock Investment Managers said, “We believe that paying taxes is an important duty of all Indians to help contribute towards the growth and development of the nation. Having said that, as money managers, it is our duty to help Indian investors grow their wealth while saving taxes in the most efficient and legal manner - by investing in Equity Linked Savings Schemes. Our new #Taxytis campaign will help drive awareness and recall for our DSP BlackRock Tax Saver Fund, which has now been trusted by lakhs of Indian investors to save taxes while aiming to grow their wealth for more than 10 years. We look forward to more investors coming to us for their tax saving needs.”
     
    Abhik Sanyal, Head - Consumer Marketing, DSP BlackRock Investment Managers said, “As Indian investors have become more aware and judicious about investing smartly, Equity Linked Savings Schemes have gained popularity over the years when it comes to saving tax. We’re aiming to build on this awareness and present our Tax Saver Fund as a suitable option. Our campaign is an attempt to bring forth a simple but hopefully clutter-breaking concept that bases itself on situational humor and quirky characterization to effectively address a hitherto serious and possibly onerous subject.”

    About DSP BlackRock Investment Managers Pvt. Ltd
     
    DSP BlackRock Investment Managers, a Joint Venture between the DSP Group and BlackRock is one of the premier Asset Management Companies in India. The DSP group has a track record of over 150 years and through its investment companies owns a 60% stake in the joint venture. BlackRock Inc. which owns a 40% stake in the JV, is one of the largest quoted asset management companies in the world and manages assets worth USD 5.1 trillion as of December 31, 2016. For more information, visit www.dspblackrock.com
     
    About Mio
     
    The mind behind this campaign and DSP BlackRock’s digital creative partner is a new-age hybrid & fluid communication solutions provider. All arms of the MARCOM mix are meshed together seamlessly. Mio is equally adept at conversation starter content as with mass media push initiatives. The firm has an uninterrupted orientation to respond and bring alive their clients brands. As a matter of practice Mio wears 3 lenses on each project with equal importance given to design, the brand persona and digital. Mio is live, responsive and fiercely creative. For more information, visit www.miodesign.in

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    Business Wire India

    ​​

    • An eminent  nine-member Jury, led by Mr. Dilip Shanghvi, selected the 17 Finalists
    • The 17 Finalists have a combined revenue of over INR 154,335 crore (USD 23.38 billion) and employ over 5.2 lakh people worldwide
    • Jury commends Finalists for innovation, disrupting business models and building sustainable enterprises
    • Mr. Nandan Nilekani honored with the Lifetime Achievement Award

    EY, the global professional services organisation, today announced the selection of 17 of the country’s most exceptional entrepreneurs as Finalists for the 18th Entrepreneur of the Year™ - India 2016. The Finalists have been selected from among 250 outstanding nominations and will be felicitated at a grand celebratory Awards Banquet to be held on 24 February in New Delhi.
     
    Together, these 17 Finalists have combined revenues of over INR 154,335 crore (USD 23.38 billion) and are providing employment to over 5.2 lakh people in India and globally.
     
    A distinguished nine-member independent Jury led by Dilip Shanghvi, Managing Director, Sun Pharmaceuticals Industries selected the Finalists. Other Jury members include Subodh Bhargava, Chairman, Tata Communications; Sanjeev Bikhchandani, Executive Vice-Chairman, Info Edge (India) Limited; Naina Lal Kidwai, Chairman, Max Financial Services; Uday Kotak, Managing Director, Kotak Mahindra Bank; Kalpana Morparia, Chief Executive Officer, JP Morgan Chase South Asia and India; Rishad Premji, Chief Strategy Officer, Wipro; Renuka Ramnath, Managing Director and Chief Executive Officer, Multiples Alternate Asset Management and A Vellayan, Executive Chairman, Murugappa Group.
     
    Mr. Dilip Shanghvi, Jury Chairman and Managing Director, Sun Pharmaceuticals says, “Like previous years, this year’s finalists too represent extremely successful companies that have not only disrupted the industry with a new business model but have disrupted themselves to chart a new growth path. We need more entrepreneurs to propel our country’s growth and it is important to recognize such innovative entrepreneurs.” 
     
     The Finalists for the EY Entrepreneur Of The Year™ 2016 India Awards are:
    • Ram Gopal Agarwal, Chairman, Dhanuka Agritech
    • Vishwavir Ahuja, Managing Director and Chief Executive Officer, RBL Bank
    • Hari Mohan Bangur, Managing Director, Shree Cement
    • R Dinesh, Managing Director, TVS Logistics Services
    • Dr Abhay Firodia, Chairman, Force Motors
    • Ajit Isaac, Chairman and Managing Director, Quess Corp
    • Girish Mathrubootham, Founder and Chief Executive Officer, Freshdesk
    • Ravi Modi, Chairman and Managing Director, Vedant Fashions (Manyavar)
    • Vikas Oberoi, Chairman and Managing Director, Oberoi Realty
    • Darshan Patel, Chairman and Managing Director, Vini Cosmetics
    • M. P. Ramachandran, Chairman and Managing Director, Jyothy Laboratories
    • Vivek Chaand Sehgal, Chairman, Motherson Sumi Systems
    • Rashesh Shah, Chairman and Chief Executive Officer, Edelweiss Group
    • Uday Shankar, Chairman and Chief Executive Officer, Star India
    • Samprada Singh, Chairman Emeritus and Basudeo Narain Singh, Executive Chairman, Alkem Laboratories
    • Chandubhai Virani, Whole time Director, Balaji Wafers
     
    Mr. Nandan Nilekani will be honored with the Lifetime Achievement Award for his invaluable contribution to the Unique Identification Authority of India (UIDAI), which is a pioneering citizen identification program, unparalleled in scope and scale worldwide. As the Honorary Advisor to the National Payments Corporation of India (NPCI), he has also helped create the ecosystem for digital financial services in India. He has also played a major role in the growth of the Indian Information Technology industry and is a recipient of the Padma Bhushan, India’s third highest civilian honor, in 2009.
     
    Mr. Uday Kotak, Managing Director, Kotak Mahindra Bank and winner of the World Entrepreneur Of The Year Award 2014 says, “I was delighted to be part of this Jury and impressed with the robustness of the process. This year’s Finalists truly define the India of today and tomorrow. What is really interesting is that we are seeing real-world businesses adopting digital and transforming themselves. My message to every entrepreneur in India is, “Go out there, build your dream and more importantly, build a business model that is sustainable over time.”
     
    Says Ms. Kalpana Morparia, CEO, JP Morgan Chase, South Asia and India, “What made the Jury process truly outstanding is the richness of the candidates. This year’s theme for the Awards – ‘Ideas, Innovation and Inspiration’, are the three 'I's that are driving India’s economy and many of the 2016 finalists embody this theme. Looking beyond the digital services companies, what is phenomenal is that existing established businesses are disrupting their own models to keep pace with the digital economy.”  
     
    Watch what the jury has to say about the EOY 2016 finalists in this video.
     
    The selection criterion included the nominee’s entrepreneurial spirit, recent financial performance, strategic direction and global impact, product or service innovation, company leadership including personal integrity and risk-taking, values and key employee initiatives, and involvement with the community.
     
    The winners will be announced across several categories, while the national winner will represent India at the EY World Entrepreneur of the Year (WEOY) awards in Monte Carlo from 8-11 June 2017.
     
    Rajiv Memani, Chairman, EY India, says, “What strikes me about our 2016 Finalists is how they have acquired tremendous scale and size from what were clearly modest beginnings. A strong focus on the customer and a business model based on innovative products and services for niche markets have enabled them to create a lasting impact. Also, reliance on technology and a bold vision for the future has helped them scale up rapidly.”
     
    Says Farokh Balsara, Partner and EOY India Program Leader, “Entrepreneurs have the power to impact our lives. Their unyielding drive to seize the power of transformative ideas creates jobs, energizes markets, builds wealth and spurs economic growth around the world. We salute their passion and insight that make them different and exceptional. Our EOY 2016 India finalists are a rare group of individuals who with their disruptive ideas and incredible innovation are inspiring a whole new generation of entrepreneurs.” 

    Zarin Daruwala, Chief Executive Officer of Standard Chartered and sponsor of the EOY 2016 India Awards says, “We are delighted to sponsor The EY awards, which captures and celebrates the spirit behind India’s economic resurgence – the Indian entrepreneur.  Never before in our history have we seen ideas and innovation spur on with such zeal, whether it is in the exciting world of start-ups with technology as the centrepiece of business ideas, or conventional business which are reshaping themselves by using technology to unleash the full potential of their products and services.  India, today, has the third highest number of Unicorns globally, with two of them in the top 20, and the IITs rank fourth across all institutes in producing billion dollar start-up entrepreneurs. The lasting impact is in the manifold ways entrepreneurship touches and changes lives: creating employment, raising health and education standards, and ushering in a stable and progressive society.  With the government encouraging new entrepreneurship through ‘StartupIndia’ and the success stories already scripted, India is becoming the crucible of ideas, ambition and entrepreneurial spirit.”

    The past winners of the EY Entrepreneur Of The Year India Awards  include Vinita and Nilesh Gupta (Lupin Limited), Dr. Cyrus S. Poonawalla (Serum Institute of India), Uday Kotak (Kotak Mahindra Bank), Adi Godrej (Godrej Group), Rahul Bhatia (Interglobe Enterprises), Dilip Shanghvi (Sun Pharmaceuticals),  Anand G Mahindra (Mahindra Group), Anil Agarwal (Vedanta Resources), Tulsi Tanti (Suzlon Energy), Kumar Mangalam Birla (Aditya Birla Group), Sunil Bharti Mittal (Bharti Group), Ratan Tata (Tata Group), N.R Narayana Murthy (Infosys), Brijmohan Lall Munjal (Hero Group), (Mukesh  Ambani (Reliance Industries), and Subhash Chandra (Zee Telefilms).
     
    Read more about the 18th EY Entrepreneur of the Year™ at ey.com/in/eoy.


    About EY Entrepreneur Of The Year™ Award

    EY Entrepreneur Of The Year is the world’s most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, EY Entrepreneur Of The Year™ celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in 60 countries.
     
    About EY

    EY is a global leader in its Assurance, Tax, Transaction and Advisory services. Our insights and the quality services we deliver help to build trust and confidence in capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In doing so, we play a critical role in building a better working world for our people, for our clients and for our communities.

    EY refers to the global organization and may also denote one or more of the member firms of EY Global Limited, each of which is a separate legal entity. EY Global Limited, a UK company, which is limited by guarantees, does not provide services to clients. For more information on our organization, please visit ey.com.

    This news release has been issued by EYGM Limited, a member firm of the global EY organization. It also does not provide services to clients.

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    Business Wire India

    The Hon’ble Bombay High Court has dismissed the winding up petition against Ruchi Soya Industries Ltd. filed by IDFC Bank Ltd. The order of dismissal was pronounced on February 14, 2017 after hearing arguments from both sides. IDBI Bank Ltd., as leader of the consortium of lending banks, had pleaded itself as an intervener in the proceedings and opposed the winding up petition.
     
    The petition before the Hon’ble Court by IDFC Bank was filed in July 2016 in relation to an outstanding loan of Rs. 200 crore under the provision of the Companies Act 1956. The judgement by the Hon’ble Court in point 115 recorded that:
    “Powers of the Company Court under Section 539 of the Companies Act, 1956 are discretionary and have to be exercised cautiously and judiciously. In the facts of this case, I am satisfied that the respondent-company which has a temporary setback and is making a sincere attempt of its revival with the assistance of large number of the creditors, it would not be desirable and in the interest of all the creditors including the petitioner to pass any order of winding up against the respondent-company at this stage.” 
     
    As part of its judgement, the Hon’ble Court has stated that “If the petitioner proposes to file any proceedings for recovery of its legitimate dues, in accordance with the decision, if any, of the Joint Lender Forum, the said proceedings to be decided on its own merits without being influenced by the observations made by this Court in this order.”
     
    Commenting on the judgement, the spokesperson of Ruchi Soya said, “We are relieved by the judgement of the Hon’ble Bombay High Court and will continue our efforts to work with our lenders including IDFC Bank to overcome the challenges being faced by the company. Our discussions with the Joint Lender Forum has been progressive and we are confident of a resolution of the various issues.”
     
    Mr. Ravi Kadam was the Senior Counsel for IDFC Bank while. Ruchi Soya was represented by Senior Counsel Mustafa Doctor.




    About Ruchi Soya Industries Limited
     
    Ruchi Soya is India’s leading Agri and Food FMCG company with a turnover of USD 4 billion. It enjoys Number 1 position in cooking oil and soy foods categories of the country. Its leading brands include Nutrela, Mahakosh, Sunrich, Ruchi Star and Ruchi Gold. An integrated player from farm to fork; Ruchi Soya is also among the pioneers of oil palm plantations in India. It is one of the highest exporters of value added soybean products like soy meal, textured soy protein and soy lecithin. Ruchi Soya has also diversified into renewable energy and is committed to environmental protection.

    https://www.facebook.com/ruchigroup/
    https://twitter.com/ShahraDinesh
    https://www.facebook.com/ShahraDinesh


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    Business Wire IndiaPayMate India is transforming the way businesses pay and get paid. As India’s leader in Business-to-Business (B2B) electronic payment processing solutions, it is experiencing significant growth in its business. With the introduction of new services and an expansion into new verticals, PayMate is now processing in excess of $2B in annualized Gross Processing Volume (GPV).
     
    With over 13000 registered businesses on its platform, PayMate is leading the way in providing simple, safe, and efficient way for businesses to automate accounts payables and receivables, along with making real-time payments to vendors, and to easily access working capital financing. These cloud-based services are used by both large enterprises and SMEs.
     
    “We are completely focused on making business payments more efficient and seamless for our customers,” said Mr. Ajay Adiseshann, Founder and Chief Executive Officer of PayMate. “Achieving $2B in GPV is a significant milestone for us, and a testament to the faith our business customers put in PayMate, our technology, and services”.
     
    In November 2016, Indian government launched a major initiative to discourage cash based transactions and encourage the move to digital payments. Since this move, there has been an increase in usage of digital payments by consumers and businesses in India. PayMate’s announcement today is further evidence of the growing adoption of digital payments by corporate clients in India.


    About PayMate India
     
    As a leading provider of electronic Business-to-Business (B2B) payment solutions, PayMate is helping large Enterprises and SMEs transition from traditionally slow and costly forms of payments like cash and checks to real-time and efficient digital payments. PayMate provides business customers the ability to automate and seamlessly manage vendor payments (AP), customer payments (AR), invoicing, and cash flow. In addition, businesses can easily apply for working capital financing at competitive rates. Multiple forms of electronic payment channels are supported including cards, net-banking, ACH, NEFT, RTGS, and IMPS. All services are delivered via our proprietary cloud based, payments platform and can be accessed on any web enabled desktop or mobile device. Processing of high volume transactions, payment settlement, mitigating risk, and security are core elements of the proprietary platform. PayMate is a PCI-DSS compliant and adheres to the highest standards and industry best practices for compliance, security, and risk. PayMate is headquartered in Mumbai and funded by Lightbox Ventures and Mayfield Fund.
     
     
    For additional information please visit www.paymate.in or contact pr@paymate.co.in

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    Business Wire India

    Ascend Performance Materials announced a global price increase on all fibers.

     

    The price increase takes effect March 1, 2017, or as contracts allow, and includes the following materials and price changes:

     
     
    Material         Geography        

    Price

     

    Increase

            Terms
    Fibers        

    North America

            $0.25/lb        
    • As contracts allow
    • Non-contract business – price determined on an order-by-order basis
    Fibers        

    Europe

            €0.55/kg        
    • As contracts allow
    • Non-contract business – price determined on an order-by-order basis
    Fibers        

    Asia

            $0.55/kg        
    • As contracts allow
    • Non-contract business – price determined on an order-by-order basis
     

    Customers should contact their local sales representative for additional information.

     

    NOTE TO EDITORS: ASCEND PERFORMANCE MATERIALS and FLEXATRAC are trademarks of Ascend Performance Materials Operations LLC. This trademark has been registered in jurisdictions throughout the world, including the United States of America.

     

    About Ascend Performance Materials

     

    Ascend Performance Materials is a global premium provider of high-quality chemicals, fibers and plastics. Ascend is one of the world’s largest integrated PA66 producers, with its own in-house manufacturing facilities, ensuring total security of supply. Ascend’s product range has earned it an unequalled reputation for quality, innovative techniques and an enlightened approach to business that expands the horizons of possibility. With eight global locations and more than 3,200 people working at our sites around the world, Ascend has the inspiration, the expertise, the people and the attitude toward innovation to consistently deliver the right solution for customers.

     

    Together, we’re making a difference.
    Together, we’re inspiring everyday.

     

    More information about Ascend can be found at www.ascendmaterials.com

     

    About SK Capital

     

    SK Capital is a private investment firm with a disciplined focus on the specialty materials, chemicals and healthcare sectors. The firm’s purpose is to build strong and growing businesses that create substantial long-term economic value. SK utilizes its industry, operating and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth and profitability as well as lower operating risk. SK Capital’s portfolio companies generate revenues of approximately $8 billion annually and employ approximately 9,000 people. The firm currently manages more than $1.5 billion of committed capital. For more information, please visit www.skcapitalpartners.com.

     

     

     

     




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    Business Wire India
    EY, the global professional services organization, today announced the selection of 17 of the country’s most exceptional entrepreneurs as Finalists for the 18th Entrepreneur of the Year™ - India 2016. An eminent nine-member Jury, led by Mr. Dilip Shanghvi, Managing Director, Sun Pharmaceuticals Industries selected the 17 Finalists.
     
    Learn more about the EOY 2016 finalists in this video:
     
    https://youtu.be/3dzW4r4PT5U
     
    Mr. Nandan Nilekani is honored with the Lifetime Achievement Award for his invaluable contribution to the Unique Identification Authority of India (UIDAI), which is a pioneering citizen identification program, unparalleled in scope and scale worldwide.
     
    The winners will be announced across several categories on February 24, 2017, at New Delhi. The national winner will represent India at the EY World Entrepreneur of the Year (WEOY) awards in Monte Carlo from 8-11 June 2017.
     
    Read more about the 18th EY Entrepreneur of the Year™ at ey.com/in/eoy

    About EY Entrepreneur Of The Year™ Award

    EY Entrepreneur Of The Year is the world’s most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership, and achievement. As the first and only truly global award of its kind, EY Entrepreneur Of The Year™ celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 145 cities in 60 countries.
     
    About EY

    EY is a global leader in its Assurance, Tax, Transaction and Advisory services. Our insights and the quality services we deliver help to build trust and confidence in capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In doing so, we play a critical role in building a better working world for our people, for our clients, and for our communities.

    EY refers to the global organization and may also denote one or more of the member firms of EY Global Limited, each of which is a separate legal entity. EY Global Limited, a UK company, which is limited by guarantees, does not provide services to clients. For more information on our organization, please visit ey.com.

    This news release has been issued by EYGM Limited, a member firm of the global EY organization. It also does not provide services to clients. 

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    Business Wire India

    More than 2,000 team members of Wells Fargo Enterprise Global Services (EGS) India participated in the milestone fifth edition of the company’s annual 10K walk/run/ride event on February 4 in Hyderabad and Bengaluru, to promote the cause of education. This “Educathon – Powering Literacy” event was a testament to Wells Fargo’s community focus to support the cause of providing education to underprivileged children, while reaffirming the health and wellness benefits that go with walking, running, and cycling. For the first time, the event saw participation of friends and family of Wells Fargo team members.

     

    This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170217005231/en/

     
    More than 2,000 team members of Wells Fargo Enterprise Global Services (EGS) India participated in t ...

    More than 2,000 team members of Wells Fargo Enterprise Global Services (EGS) India participated in the milestone fifth edition of the company's annual 10K walk/run/ride event on February 4 in Hyderabad and Bengaluru, to promote the cause of education. (Photo: Business Wire)

    “Corporate social responsibility is rooted in our culture of caring at Wells Fargo, and it has been an important part our company’s growth and success for more than 160 years. We continuously work to make a difference in our workplaces as well as the communities in which we live. At Wells Fargo EGS India, we focus on supporting education for underprivileged children,” said Aveek Mukherjee, head of Wells Fargo EGS Delivery. “We also recognize the importance of having a workplace culture that promotes and supports healthy lifestyle choices by encouraging events such as the annual run/ride/walk event.”

     

    Wells Fargo EGS India has an active community of runners and riders with more than 1,500 team members who regularly take part in running and riding events across the country. To facilitate and encourage cycling to work, Wells Fargo facilities in Hyderabad and Bengaluru have exclusive parking zones for bicycles.

     

    Speaking at the Educathon event, Prakriti Panwar, head of corporate sustainability for Wells Fargo EGS India said, “We are committed to finding new ways to spread awareness to support the cause of education – one of our priority areas of community service. In addition, our volunteers consistently work to help educate underprivileged children by driving various efforts at schools supported by Wells Fargo EGS India.”

     

    The 10K walk/run/ride is one among many examples of Wells Fargo’s commitment to environmental stewardship. While the company has successfully put into practice several ‘everyday’ green initiatives like switching off lights for an hour every week and double-side printing configuration on all printers, Wells Fargo volunteers also create awareness about greener living and participate in external initiatives that help the environment. Wells Fargo Centers in Hyderabad and Bengaluru are also LEED-certified sustainable sites with strict energy and resource management.

     

    About Wells Fargo Enterprise Global Services (EGS) - India

     

    Wells Fargo Enterprise Global Services (EGS) is a critical component of the Wells Fargo’s (Wells Fargo Bank N.A.) strategy to leverage distinct advantages in doing business in a global environment. Wells Fargo EGS - India (Wells Fargo India Solutions Private Limited and Wells Fargo International Services Private Limited) is primarily an extension of the technology, operations, knowledge services, and corporate support teams of Wells Fargo. It engages in application development and support, testing, other technology functions, international operations, knowledge support, middle and back-end banking process solutions for a wide spectrum of Wells Fargo’s needs. The entities currently have a 8500+ strong team across their offices in Hyderabad, Bengaluru, and Chennai.

     

    About Wells Fargo

     

    Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.8 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through 8,700 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2015 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.

     

     

     

     
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    Business Wire India
    UAE Exchange, the leading financial institution is honored to receive the prestigious NIB award for House Journal - Best Content, Best Annual Report and House Journal - Best Photography, organized by Ernakulum Press Club and Public Relations Council of India - Kerala Chapter. Ms. Sheeba Johnson, Head Business Communication and Mr. Harishankar, Head Business Promotions jointly received the prestigious award from the speaker for Best Annual Report and Ms. Roshni & Ms. Reeba received the esteemed award for Best In-house journal from Mr. P Sreeramakrishnan, Honorable Speaker, Kerala Legislative Assembly in the vivid function held at Crown Plaza, Kochi on 18 February 2017.
     
    We are really honored to receive the esteemed awards for our corporate identity. We consistently aspire to create novel solutions to provide best experiences for our employees through internal channels. NIB recognition shores up our beliefs and persuades us to do even better,” shared Ms. Sheeba Johnson, Head Business Communication.
     
    Xpressions is a monthly magazine that focuses on publicising employee views on working space and their personalities outside the organisation. Events, stories, and personal experiences are expressed in simple and easy language that can be absorbed within minutes cultivating employee relations in the company. Mr. Arun S R, Branch Head, Anchal UAE Exchange captured the award winning photograph for the In-house Journal.

    About UAE Exchange India 
     
    UAE Exchange India is one of the pioneers of financial services renowned for its penchant quality and optimized service trends, creating a niche for itself in the industry. Connecting people and creating progress with the finest of quality is the vision of the company that has an extensive reach of 376 branches serving a population of 1.25 million people under the proficient support of 3375 employees. The company has been instrumental in providing cost-effective service in Foreign Exchange, Money Transfer, Air Ticketing & Tours, Loans, XPay Cash Wallet, Insurance and Share Trading.

    Website: www.uaeexchangeindia.com

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