Goodyear, Plus team up to make autonomous trucks safer, more fuel efficient

2018年10月30日 SHLF 0 Comments

The Goodyear Tire Rubber Company has announced a strategic collaboration with Plus (formerly Plus.ai) which happens to be a global provider of self-driving truck technology. The said partnership aims at providing optimized, autonomous trucking solutions that would elevate the intelligent and connected transformation of the logistics Industry, the company noted. Goodyear and Plus said in a press release that they will explore how Plus Moreover, by integrating Goodyear Chris Helsel, SVP Global Operations CTO of Goodyear said that tires He added that with the brands leadership in products and innovation, Goodyear is supporting efficient fleet operations and is pleased to drive more possibilities for the logistics industry with Plus. Speaking on the latest collaboration, Shawn Kerrigan, COO and Co-founder, Plus said that the company is constantly exploring new opportunities to generate more value for customers using its autonomous driving technology.

Accelerated shift towards casualisation, digital adoption by consumers since pandemic: AFL

2018年10月30日 SHLF 0 Comments

Since the pandemic began, there is a significant change in consumer behaviour with an accelerated shift towards casualisation and a high degree of digital adoption, making these changes the new normal in the future, said Indias leading casual and denim player Arvind Fashions Limited (AFL). It has made the e-commerce channels extremely prominent and more relevant than ever, said AFL Chairman Sanjay Lalbhai, while addressing in its latest annual report of the company. AFL, which has a portfolio of six strong brands – US Polo Assn., Tommy Hilfiger, Calvin Klein, Arrow, Flying Machine and Sephora – is well-poised to capitalise on the new consumer behaviour with its digital ecosystem and right for online casual brands, Lalbhai added. In summary, with a focused portfolio of six strong brands and significant omni-ecosystem capabilities, your company is in a strong position to leverage the opportunities available in the new post-pandemic world, where consumer buying behaviour is strongly moving towards direct to consumer channels, he said. According to the company, with flexi working practices in the post-pandemic world, the consumers share of wardrobe is becoming more casual wear and athleisure oriented. Within casual activewear and T-shirts have shown promising growth with CAGR of 12.7 per cent and 10 per cent, respectively, owing to changing preferences, the report said. Moreover, small towns as tier II, III and below is also warming up to the idea of ready to wear branded apparel. Reverse migration during COVID-19 has only accelerated the adoption of branded wear. The Indian middle-class consumer in these locations is seeking quality, fashion at affordable price, it added. According to Lalbhai, with a low fixed cost structure and working capital optimisation, AFL is now a more capital-efficient organisation, he added. Moving forward we will invest behind our high-conviction brands and ensure that we significantly enhance our profitability and return ratios in the years to come, Lalbhai added. On its beauty retailing store Sephora, Lalbhai said: With scaling up of omni-competence, we believe that Sephora is ready to outpace the growing beauty market in India. AFL has been an early adopter of digital with a deep focus on omni-channel capabilities even before the onset of COVID, he added. We were able to further scale up our digital and omni play by extending our marketplace integrations with all large e-commerce players, he said, adding that the company further strengthened its e-commerce fulfilment capabilities with 5 dedicated B2C warehouses with capacity to service up to 30,000 orders per day, thereby reducing the delivery time for customers. Earlier this week, AFL had announced to raise Rs 439 crore from various marquee investors including promoters by issuing equity shares of the company. Last month, AFL had sold its Unlimited retail chain to Value fashion retailer V-Mart Retail for an estimated Rs 150 crore in an all-cash transaction. For the financial year ended on March 31, 2021, AFLs revenue from the operation on a consolidated basis was at Rs 2,201.18 crore. It was Rs 3,613.57 crore in FY 2019-20.

Industrialists should be state’s brand ambassadors: Maharashtra Chief Minister Uddhav Thackeray

2018年10月30日 SHLF 0 Comments

The industrialists of the state themselves should be the state Delivering the key-note address at the Loksatta -MIDC Industry Conclave, Thackeray said the state has given priority to creating an industry-friendly environment. A department-wise In addition, a one-window scheme and efforts to make available skilled manpower were being pursued. Moreover, the government was also working to provide more facilities to industry and also to reduce electricity tariffs, even while ensuring the state develops in a balanced manner, the CM observed. Immense employment opportunities are hidden in the tourism sector, he said, adding the sector has been given the status of a hospitality industry. The CM said the state government stands firmly behind investors and would continue to do so. The states industrial progress, which is on its way to reaching a trillion-dollar capacity, is testament to the improvement in the infrastructure facilities. Saying local people needed to be taken into confidence about the industries and businesses to be set up in their areas, Chief Minister Thackeray congratulated LokSatta for organizing the conclave. Although we are trying to get our lives back on track in a time of crisis, one of the many challenges we face is of people Thackeray said that Maharashtra, while turning this challenge into an opportunity, has worked to provide relief to industries and businesses even during the Corona period and has started many new ventures. Today, while the incidence of corona seems to have decreased a bit, so we have started some things slowly. This time is being used to determine the strategic aspects of what we have done and what we should do, and Maharashtra has come forward with a sense of belonging for investors.

FPIs net buyers in Aug, invest Rs 986 cr in equities

2018年10月30日 SHLF 0 Comments

Foreign portfolio investors (FPIs) pumped in a net of just Rs 986 crore in Indian equities during August, as cautiousness continued to persist among overseas investors. According to data from depositories, FPIs bought equities worth Rs 986 crore and invested Rs 13,494 crore in the debt segment between August 2-27. This translated into a total net investment of Rs 14,480 crore. In July, they were net sellers at Rs 7,273 crore. The trend of foreign flows into the Indian equity markets have not been encouraging ever since US Fed indicated tightening of its monetary policy stance earlier than what was initially projected, said Himanshu Srivastava, associate director (manager research), Morningstar India. There is cautiousness among FPIs towards investing in Indian equity markets despite signs of economic recovery, relaxations in lockdowns across various states, opening up of businesses, pick-up in vaccination drive, market touching all-time highs and regulatory clampdowns in China denting its growth outlook, he added. Other than India, all other emerging markets witnessed positive inflows, noted Shrikant Chouhan, executive vice-president (equity technical research) at Kotak Securities. Taiwan, Korea, Indonesia and Philippines reported inflows of USD 184 million, USD 166 million, USD 125 million and USD 23 million, respectively. FPI, going forward, is likely to be influenced by the US Fed commentary expected tonight. A hawkish Fed may rattle markets. Any way, they are unlikely to commit big fresh money at these stretched valuations, said V K Vijayakumar, chief investment strategist at Geojit Financial Services.

WardWizard opens two dealerships for Joy e-bike in Assam: All details

2018年10月23日 SHLF 0 Comments

WardWizard Innovations and Mobility Ltd that happens to be the parent company of electric two-wheelers brand – Joy e-bike has inaugurated two new dealerships in Assam. The said dealerships are equipped with complete sales and service facilities to facilitate the brands reach in the state. The first dealership was inaugurated under Mahavir Enterprises Pvt Ltd and is located at Amingoan, Guwahati. On the other hand, the second dealership has been started under Mahavir Mobility and is situated at Lokhra Lal Ganesh Road, Guwahati, Assam. Both these dealerships showcase the entire range of Joy e-bike With 11 varying models of high and low-speed electric scooters and bikes, Joy e-bike now has quite a strong portfolio in the Indian market. The company is now gearing up to add two new scooters before the festive season. Aligned with the government policies, both of these scooters are Make in India products, the company noted. Speaking on the network expansion in the region, Sneha Shouche, Chief Financial Officer, WardWizard Innovations and Mobility Ltd said that penetrating new markets and connecting with customers has been the company She also stated that as per the brands market study, Assam would become one of the leading states adopting sustainable mobility. She believes that the exclusive dealerships will help Joy e-bike in reaching out to more and more potential customers in the state as well as in entire north-eastern India. Stay tuned with Express Mobility for more such updates!

IndiGo appoints Gregg Saretsky as special advisor

2018年10月23日 SHLF 0 Comments

IndiGo on Sunday said it has appointed Gregg Saretsky as a special advisor and he will work closely with the executive leadership team to accelerate operational and commercial improvement opportunities at the airline. Saretsky joined the board of InterGlobe Aviation, the parent of IndiGo, as a non-executive director in October last year. In a regulatory filing, the airline said that Saretsky has been appointed as a special advisor with immediate effect. In this capacity, Gregg will work closely with Rono Dutta, the executive leadership team of IndiGo, and Rahul Bhatia to accelerate operational and commercial improvement opportunities at the airline, the filing said. Bhatia is a promoter of IndiGo. Saretsky served as the President and CEO of WestJet, Calgary, Alberta (Canada) from March 2010 to March 2018. Prior to WestJet, Saretsky was associated with Alaska Airlines. Greggs understanding of the low-cost carrier model will serve us well as we work together to drive the change that will propel IndiGo to the next level and recover from the damaging effects of the pandemic, the filing said. IndiGo board has ten members.

Nearly 70% of two-wheeler dealers yet to register as MSMEs; many unaware of govt credit schemes: Survey

2018年10月23日 SHLF 0 Comments

Ease of Doing Business for MSMEs: Even as the government had recognised auto dealerships as micro, small and medium enterprises (MSMEs) in the Union Budget 2021-22, a large number of two-wheeler dealers are yet to register themselves as MSMEs, according to a survey by credit rating agency 67 per cent of two-wheeler dealer respondents weren Moreover, most of the dealers were not even aware of the different credit schemes available for MSMEs and had only availed moratorium extension so far. Not just 76 per cent of two-wheeler dealers but 54 per cent of passenger vehicle dealers also didn The survey noted, There are a lot of dealers who are new into the segment, many keep entering and exiting the dealership market also and at times it becomes difficult to track them but we keep updating them on the process to be followed for MSME registration and schemes around MSMEs. There are around 30,000 dealerships (across India in the auto retail industry) and it might take some time for many of them to register as MSMEs, Saharsh Damani, CEO, Federation of Automobile Dealers Associations (FADA) told Financial Express Online. FADA is the apex body of the automobile retail industry in India engaged in the sale, service, and spares of two and three-wheelers, passenger cars, utility vehicles, and commercial vehicles. Although auto dealerships have started registering themselves under MSME, however, most have only availed loan moratorium till now and are not aware of other schemes applicable for MSMEs. Creating awareness of the schemes amongst the auto dealerships will enable them to access such credit facilities and secure them during such unprecedented times, Bhushan Parekh, Director, Crisil SME Solutions told Financial Express Online. While the lack of awareness and lower registration count is a challenge, importantly, the sales recovery this fiscal year is expected to be patchy at 10-15 per cent according to the two-wheelers, passenger vehicles, and commercial vehicles dealers, as per the survey of 123 dealers. However, chances of a third Covid wave, increase in fuel prices, and supply constraints of original equipment manufacturers (OEMs) are likely to be reasons that could slow the sector down. The volume share of MSME borrowers in the auto and auto components industry, which had close to 1.29 lakh borrowers as of June 2020, stood at 90.55 per cent as of June 2020. Amid Covid, this had increased marginally from 89.51 per cent during the year-ago period and 88.88 per cent as of June 2018, according to the data from SIDBI and credit bureau CRIFs report in January this year. This story was updated with Crisils statement later.

‘Insolvency resolution plans should look to maximise business value rather than just recover dues’

2018年10月16日 SHLF 0 Comments

The focus of an insolvency resolution plan should be to maximise the value of the business concerned and not just to recover the dues or liquidate the company, an IBBI official said on Saturday. The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in implementing the Insolvency and Bankruptcy Code (IBC). Speaking at an event organised by industry body Assocham, IBBI Executive Director Santosh Kumar Shukla said it is a joint effort of all the stakeholders and not only insolvency professionals for the revival of companies under financial stress. While we need to give full credit to the role and the responsibility of the insolvency professionals, while working out a resolution package, the other stakeholders like the committee of creditors and even the ex-management has an important role to play. The focus should be to maximise the value of the business and not just to recover the dues or liquidate the company, Shukla was quoted as saying in a release issued by Assocham. National Company Law Tribunal (NCLT) Member (Judicial) Madan Balachandra Gosavi said the committee of creditors should not look at only maximising their recovery or going in for compulsory liquidation to recover their dues during the resolution of a company but also ensure the company becomes operational again. He also appreciated the role of resolution professionals during an insolvency process, adding that there have been instances where resolution professionals have faced murderous attacks. There have been cases where the ex-management too, has tried to get them intimidated in false criminal cases, he said, according to the release.

Apple’s in-app payments system hits antitrust roadblock in India, says report

2018年10月16日 SHLF 0 Comments

Apple has found itself in the middle of an antitrust challenge for alleged abuse of its dominant market position in India, Reuters reported citing a source and documents. The antitrust case alleges that Apple forces app developers to use its in-app purchase system and takes a hefty cut in return. FE Online We have reached out to Apple for a comment and will update this piece accordingly. Apple is facing a similar challenge in the European Union. Last year, EU regulators began a probe into Apple charging a 30-per cent in-app fee to distribute paid digital content. Rajasthan-based non-profit Together We Fight Society has filed the challenge and argued that the 30-per cent fee raised costs for both developers and customers, hurt competition, and acted as a barrier to entering the market. The Competition Commission of India (CCI) is expected to review the case shortly and could order a wider probe or dismiss it if it finds no merit, a source told Reuters. The Reuters source said it was possible that the CCI would order a probe because the EU has already been investigating this. Only 2 per cent of India However, the Cupertino-based tech giant The India case also claims that Apple The petitioner has also alleged that this move hurts Indian payment processors that take a much lower service charge at 1-5 per cent. Earlier this week, South Korea The CCI is already conducting a probe against Google for a similar violation after Indian start-ups voiced concern over its in-app payments fee. The CCI investigation, which is still ongoing, is part of a broader antitrust probe into Google.

Music is on at Kabul weddings under the Taliban

2018年10月16日 SHLF 0 Comments

At one of Kabuls upscale wedding halls, a celebration was in full swing around midday Tuesday. Afghan dance music could be heard from inside the hall. According to reception halls manager, Shadab Azimi, 26, at least seven wedding parties have been held since the Taliban takeover of Kabul two weeks earlier, with festivities moved to daylight hours because of security concerns. The Taliban, who during their previous rule between 1996-2001 had banned most music, except for devotional Islamic songs, did not announce a ban of live music, Azimi said. However, wedding singers canceled on their own, for fear of running afoul of possible new Taliban restrictions. He said in recent celebrations, couples played taped music. Azimi said business was down by 80 per cent over the past two weeks, presumably because of a sense of uncertainty. The manager said Taliban patrols check in a couple of times a day, asking if he needs help with security, but have not seemed threatening. And unlike the security forces under the deposed government, the Taliban have not demanded bribes, he said. Even before the Taliban takeover, wedding parties were traditionally been segregated, with men and women celebrating in different spaces.