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16:14, 8 MAY 2017
Barkley Plastics set to break the £7 million barrier
The plastic injection and toolmaking specialist, based in Birmingham's Highgate district, is celebrating its 50th anniversary in style after landing a clutch of new automotive contracts and launching its own line of PVC floor tiles called 'Plasfloor'
Jaguar Land Rover sales dip as car-maker rolls out new models
The unexpected drop was attributed to changes in the firm’s model line-up rather than a turnaround in its fortunes
Auto Supply Chain shifts up a gear but more speed is needed
Contracts worth more than £1bn that were outsourced to overseas based automotive suppliers back in 2012 are now being delivered by UK-based suppliers.
Alternatively powered cars: Hybrids - not electrics - lead the charge
At the moment everyone seems to be waiting for a 'game changer' in terms of a big breakthrough in battery technology which could see consumers switch over in a big way.
MG Rover workers still owed a payout years after this sorry saga
The Phoenix Four should still do the right thing. By directing the proceeds of the Deloitte fine to former employees, the FRC could show them an example, write Prof David Bailey and Richard Burden MP
Rich List 2015: No.12= - Lord Edmiston
A former finance director at the failed Jensen Motors, Lord Edmiston used his £6,000 redundancy pay to set up International Motors in 1974
The Performance Car Show at NEC: Top 10 sporty motors of the past 25 years
Retail & Consumer
The Performance Car Show at the NEC is celebrating its 25th anniversary. Show director Ian France reveals his top 10 best motors
BMW appoints new chief to lead Hams Hall plant
Markus Fallböhmer takes reins at Warwickshire factory which will launch a new generation of engines this year
Autosport International 2015 brings parade of beautiful cars to the region
Europe’s largest dedicated motorsport trade show will be held at the NEC from January 8 to 11, putting a host of high-performance vehicles on show
Sport is Land Rover's new Discovery
Land Rover’s Discovery Sport is just as big a deal as Jaguar’s XE and it too is also something of a first
New compact Jaguar 'could see sales double'
Jaguar Land Rover's high hopes of cracking fleet market with latest models
Iconic British brands thrive and drive forward on global stage
Car giant Jaguar Land Rover is sponsoring the manufacturing category at this year's Birmingham Post Business Awards. Here, the car giant looks back at a period of incomparable success
Peugeot Citroen to cut 90 jobs at Coventry HQ
French car making giant Peugeot Citroen is to cut 90 jobs at its Coventry headquarters.
'Game-changing' electric car to go on sale in Birmingham showroom
Birmingham is chosen as first location outside South East for new Tesla dealership.
The MG Rover Phoenix Four must cough up
The Phoenix Four have finally run out of excuses, and they are about to pocket another million quid each from the wreckage of the car crash that they presided over at MG Rover.
The sorry legacy of MG Rover's Phoenix Four
John Towers, Peter Beale, Nick Stephenson and John Edwards became the unacceptable face of capitalism with the closure of MG Rover nearly ten years ago after racking up debts of more than £1 billion.
Jon Griffin: Bringing back the glitz and glamour of the Motor Show
The British Motor Show was an institution for decades. Post-recession, it deserves another outing.
Jon Griffin: Jaguar Land Rover success story masks a nation of pay freeze strugglers
Unite union representatives sat down with Jaguar Land Rover management to discuss wage rises for around 23,000 workers.
UK-based sports car manufacturer Lotus hits bumps in the road again
UK-based sports car manufacturer Lotus has just announced that it will cut around a quarter of its workforce in a desperate attempt to cut costs.
New BMW MINI has got massive appeal
Edward Stephens discovers that size really is everything when he gets comfortable in the first five door MINI
Johnson Cars launches three new dealerships
Company's expansion includes largest Volkswagen dealership in Europe at its hub in Shirley
Jaguar XE is 'make or break' for ambitious plans, director accepts
The XE vehicle programme director believes in order to succeed it may need to be better than rivals like the BMW 3 Series, Audi A4 and Mercedes-Benz C-Class
David Bailey: Jaguar Land Rover needs the XE to sell well
Will Jaguar succeed with the new XE saloon and finally challenge a sector dominated by German manufacturers?
New Jaguar XE saloon represents 'pivotal moment'
Midland manufacturer launches new car to take on the might of Audi, BMW and Mercedes-Benz in the compact executive saloon market


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HRH Premier Prince Khalifa bin Salman Al Khalifa opening the expos.
Big 3 industry shows open in Bahrain
Manama, May 7, 2013
His Royal Highness Prince Khalifa bin Salman Al Khalifa, Prime Minister of the Kingdom of Bahrain, on Tuesday opened three leading trade exhibitions for the construction, interiors and property sectors being held simultaneously, and organised by the Bahrain-based Hilal Conferences and Exhibitions (HCE).
After the inauguration, the Prime Minister commended the HCE for organising the shows which were in line with the government’s efforts to make Bahrain a hub for exhibitions.
For the first time, the established gulfBID and gulfInteriors exhibition brands were joined by the inaugural Gulf Property Show, creating the biggest combined business to business (B2B) and business to consumer (B2C) showcase ever organised in Bahrain.
Floor space in all three exhibition halls of the Bahrain International Exhibition and Convention Centre (BIECC) was sold out – a total of 7,600 sq m occupied by 187 companies from Bahrain, the region and further afield.
Almost 100 companies representing segments as diverse as construction, design, engineering, project management, construction plant and machinery and green buildings are demonstrating their capabilities at gulfBID in Hall 1 of the BIECC.
Meanwhile, 72 companies representing home-grown and international brands in sectors including furniture, paints, kitchens, bathrooms, lighting, ceramics, wall coverings, and art and accessories are taking part in the gulfInteriors expo in Hall 2.
Gulf Property Show, which is showcasing Bahrain’s various residential and commercial real estate assets and related services, is being staged in BIECC’s Palm Hall.
Thanking the Prime Minister for his patronage of the show and for opening it, HCE managing director Jubran Abdulrahman said: “We appreciate His Royal Highness’s continued support, which obviously reflects the importance that his wise leadership attaches to such important events in the island.”
“No doubt holding gulfBID and gulfInteriors for the seventh year and adding the property show this year is a clear indication that the business outlook is optimistic not only in Bahrain but also in the northern Gulf. We hope that the three exhibitions will allow buyers and sellers to come under one roof and strike deals during the three days,” he added.
Abdulrahman said compared to last year, the exhibitions had grown significantly. "While gulfBID has grown 30 per cent in actual size, gulfIinteriors has grown 60 per cent in actual size," he stated.
The inaugural property show took 600 sq m and has run out of space and we will have to look for an alternative arrangement next year,” he added.
Strategic supporters of gulfBID 2013 and gulfInteriors 2013 include Bahrain’s Ministry of Industry and Commerce, Tamkeen Labour Fund, the Bahrain Chamber of Commerce and Industry, Bahrain Exhibition & Convention Authority (BECA), the German Arab Chamber of Commerce and Industry (Ghorfa), British Expertise and the Bahrain Property Developers Association (BaPDA).
The strategic sponsors for the Gulf Property Show, meanwhile, are Manara Developments Company, with Bahrain Financial Harbour and Sakaan (Saar Central) supporting as Gold Sponsors. The shows continue today and tomorrow from 9 am to 9 pm.-TradeArabia News Service

domain: news


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Not only is the 2011 Ford Mustang bringing back the heritage behind the 5.0-liter V-8 engine, but it will also give Ford Motor Company some prestigious face time as the official pace car for one of the world's most popular automotive racing events: NASCAR's Daytona 500. Despite the Mustang's lengthy history in motorsports, this will mark the first time the storied pony car has ever paced the 'Super Bowl of Stock Car Racing.'? Even as an automaker, Ford Motor Company hasn't paced the great race since the 1970 Ford Torino GT led the field around the 2.5-mile tri-oval.
As is the case with any showcase pace car, the 2011 Ford Mustang GT will be done up in a unique paint scheme with a distinctive coloring and body kit. All cars will be glass roof models with a Race Red coloring, unique wheels and multiple Daytona 500 logos. Even more eye-catching than the exterior color is the red, white and blue stripes that match the iconic Mustang logo and run the length of the car (except along the glass roof). Other changes include a sport-tuned suspension by Ford Racing, a strut tower brace, sport mufflers and an interior treatment exclusive to the pace car.
This will be the first non-GM car to pace 'The Great American Race'? since 1972 with a long list of Pontiacs and Chevrolets leading the field since then. During that time, Pontiac fielded a car for 31 straight years including a Pontiac Aztek in 2001! To commemorate the 2010 Daytona 500 pace car, Ford will build 50 special edition Mustangs that will be sold to the public. No pricing has been announced for the pace car replicas, but with such a limited number going into production, it will surely become an instant collectable.
Ford will be auctioning off the very first pace car at this weekend's Barrett-Jackson Collector Car Auction in Scottsdale, Ariz. with the proceeds of the car going to the Juvenile Diabetes Research Foundation (JDRF). According to Steve Davis, president of Barrett-Jackson, the 2011 Ford Mustang Daytona 500 pace car will be the first time that the auction house has sold a pace car before it even paced its first race.
'Over the past three years, Ford is proud to have raised more than $2 million for JDRF through the sales of vehicles at Barrett-Jackson,'? said Jamie Allison, director, Ford North America Motorsports. 'This year, one lucky bidder will not only experience the thrill of seeing his or her 2011 Mustang pacing the Daytona 500 in front of 43 of the world's greatest race car drivers, but will contribute toward finding a cure for juvenile diabetes at the same time.'?
Whoever wins the auction won't just be getting the official pace car, her or she will also be purchasing one of the first 2011 Mustang GTs to be available for sale including the return of the 5.0-liter V-8. This all-new DOHC V-8 produces 412 horsepower and 390 lb-ft of torque, and it utilizes twin independent variable camshaft timing (Ti-VCT) to give it an estimated 25 miles per gallon on the highway.


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A woman works in the packing section of a factory that manufactures sports goods in Jalandhar, India. Reuters
Indian economy is likely to swell to $5 trillion mark ahead of its target of 2024 despite huge challenges and global trends. This was stated by T.N. Manoharan, non-executive chairman of India’s Canara Bank recently in Dubai,
India’s government forecast on Thursday that economic growth could get back up to 7% per cent this year, but cautioned it will face challenges keeping its fiscal deficit in check.
Foreign sovereign wealth funds are piling into India, buying stakes in everything from airports to renewable energy, attracted by political stability, a growing middle class and reforms making it more enticing for foreigners to invest.
Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, emphasised that Foreign Direct Investment flows into Dubai in 2019 continued to grow remarkably,
The United States and India are racing to negotiate a limited trade deal that US President Donald Trump and Indian Prime Minister Narendra Modi can sign at the United Nations General Assembly in New York at the end of September,
The inaugural edition of the EuroTier Middle East 2019 that concluded at the Abu Dhabi National Exhibition Center recently facilitated trade deals worth Dhs100 million, and attracted over 10,892 visitors during its three-day run,


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Are you excited to learn about the upcoming Mercedes-Benz products?! We know we are, especially about the one set to launch by 2023. There will be plenty of all-new and first-ever products, which consist of a mix of both electric and conventional models. Here are ten of the upcoming Mercedes-Benz products expected to launch by 2023.
This forthcoming luxury compact crossover automobile will go into production this year. It is a more practical, compact and spacy SUV, which is positioned below the GLC. However, it will be longer than the GLA and similar to a GLK. Its concept car version will be presented at the 2019 Shanghai Motor Show.
Next-gen Mercedes GLE Coupe
The prototype model of the next-gen Mercedes-Benz GLE Coupe was recently spotted doing test laps. It looks quite similar to the GLE in the front but features a sleeker and more dynamic rear-end. Some of the most probable variants to come to include GLE 300d Coupe, GLE 450 Coupe, AMG GLE 53 Coupe, and the top-dog AMG GLE 63 Coupe.
The pure electric derivative, titled EQB, is very likely to resemble Tesla’s Model Y and future compact electric crossovers. It will have the same EVA platform and electric drivetrain as the EQA and will offer a range of 310 miles.
This is an upcoming family member of battery electric vehicles. It is a fully electric luxury sedan which will offer a range of 310 miles. The first Mercedes EQ car was unveiled last September in the form of the 2020 EQC small SUV.
Next-gen Mercedes C Class
This all-new C Class sedan is very likely to be launched in 2021 and it will be probably followed by other versions, such as the estate, coupe, and convertible. Based on the spy shots and video which appeared, the Next-gen Mercedes C Class comes with an evolutionary redesign alongside new powertrains and chassis upgrades.
Next-gen Mercedes S Class
This is the best full-size luxury sedan, which raises expectations with every generation of S Class. The next-gen model will debut at the 2019 Frankfurt auto show and will be in showrooms in 2020 as a 2021 model. It will feature a Level 3 autonomous driving aid, a massive touchscreen which will run the latest MBUX software and boosted luxury quotient.
All-new Mercedes SL
A completely new, lighter, sexier, and faster generation of SL is currently in the works. The next-gen 2-door convertible and will be based on a new platform called Modular Sports car Architecture. It is very likely to be a potential replacement to the S Class Coupe. The All-new Mercedes SL will be more driver-centric and will offer a more engaging experience.
Next-gen Mercedes GLS
The 2019 New York International Auto Show will happen in just a few days and it will be that we will see the world debut of the next-gen Mercedes GLS. The full-size utility barge will feature a less curvaceous and more blocky look. Its production will take place in Vance, Alabama and this SUV will undoubtedly look considerably more elegant than before.
Next-gen Mercedes GLA
The next-gen Mercedes GLA will come with a completely new styling, engines, and vast tech. It will probably borrow the 4-cylinder turbo petrol and diesel motors from the A-Class hatchback. The next-gen Mercedes GLA will debut sometime this year.
Considered the highest tech four-wheel drive electric car ever, the Mercedes EQA is the latest addition to the all-electric EQ range. This is one of the Mercedes vehicles to be based on a new electric vehicle architecture (EVA). The Concept EQA was unveiled at the 2017 Frankfurt Motor Show and it’s scheduled for release in 2020.


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An Imperial Bus roamed the long streets of London early last week, working its way through the City in a protest against the privatisation of Royal Mail. The protest signals a move of defiance by the Communication Workers Union (CWU), with general secretary Billy Hayes promising to not “stand idly by and let it happen”.
Planned for before 2014, the privatisation that was officially initiated last Wednesday by the government will be the most important since the Thatcher’s era. However it will also be one of the most controversial yet, with 96% of the Royal Mail labour force shown to be against the idea. Vince Cable, the Business Secretary, defended it still, arguing that the move “will give Royal Mail the true commercial liberty that it has needed for a long time.”
The privatisation will take the form of a capital flotation on the stock market, rather than the direct sale of the company, and firms TNT and DHL are reported to have already shown interest. Any move from these firms will see their value increase by £2-3 billion, with 10% of their capital to be distributed as free shares to the 150,000 employees, who describe it as an “offer for imbeciles”. In a move to placate an expected public backlash, all 11,500 Post Offices (settled within each distinct local society since 2012) will not be affected by the sale, with just the delivery operation of the Royal Mail being privatized.
Moreover, the sale has long roots; with government interest in the privatisation of Royal Mail dating back to 1994. In 2000, the public service became an enterprise and was renamed ‘Consignia’; however a consumer backlash against the change led to the return of the Royal Mail brand after two years. The Labour government brought back the idea of privatisation in 2008, once again aborted by the Chamber of Common’s hostilities. After two parliamentary reports, the coalition finally adapted this as a principle in 2010, with civil servant Richard Hooper appointed to lead an independent review into the Royal Mail. He described the situation as “intangible” for an organisation that is “not efficient enough against its European homologues” and said the institution was scared by a “culture of conflict with the syndicates of the CWU” and needing a “radical modernisation”.
Recruited in 2010 by the Canadian post services to prepare a privatisation, the general director Moya Greene has already accomplished a good part of this mission. The number of letters distributed every day has changed in 5 years from 80 to 58 million, with heavier packages now representing half of the £9.2 billion turnover last year, an increase of 5%. Operational profit has also risen to £440 million. The directors have been congratulated for ruling “a commercial enterprise turned towards its consumers and a sustainable growth”.
For the CWU and its syndicates, this is a proof that privatisation is not necessary. However, it is now that the long-planned privatisation finally seems to be going ahead, ironically because of these changes; the modernisation has been seen as preparing the business for privatisation by making it now attractive to private investors, despite a long history of losses. This fact, if nothing else, is testament and proof that the sale, and the controversy surrounding it, may finally be coming to an end.


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As Indian consumers prepare for Diwali, the country's biggest festival which starts on 19 October, e-commerce giants Flipkart and Amazon are reported to have already rung up strong sales from their promotions in September.
E-commerce one of the most important Amazon India is back with the bang and this one is the Great Indian Festival Sale of this Diwali. Flipkart is offering discounts and deals in some categories like electronics, fashion, home, mobile phones, and furniture, etc.
However, while both companies can be expected to look forward to Diwali with optimism, Nikkei Asian Review also reported that the outlook is gloomier for many of India's traditional retailers.
Flipkart's Big Diwali Sale will begin from this 14 October and will carry on till 17 October. Especially number of mobile phones are being purchased by the customer since this October.
Amazon announced that SBI card users will get additional 10% cashback offers on all the purchases made during Big Diwali sale. They are also offering 20% cashback on payments done through PhonePe. On 5 October the smartphone was launched. The online major will also be offering washing machines at a starting price of Rs 8,999 and a discount of 50-80 per cent off on fashion products. Flipkart offers a no-cost EMI facility to enable its customers to buy a product from the e-tailer at zero interest.
Snapdeal has announced its "Unbox Diwali Sale" from October 13 and will be live until October 16.
The Citibank credit card users are appropriate for a 15 percent cash back, where the utmost cashback is that of Rs 2,000 while HSBC credit and debit card users can avail up to 10 percent immediate discount during the sale period. Under the Diwali sale, Snapdeal is offering top deals, cashback offers, and instant bank discounts on a range of products across categories.
Paytm Mall's Maha Cashback sale started on October 10 and will continue toll October 13. Oppo F3 Plus will be getting the biggest exchange offer of up to Rs 8,000. Naturally, there are some pretty good deals on offer. At the price of Rs 46,950 and Rs 59,800, the iPhone 8 64 GB and 256 GB are available on Paytm Mall respectively. Yes, Bank Credit Card customers can also take benefit of this additional Rs 6,000 cashback which will be credited within 24 hours of the phone's delivery. "Our platform will host a vast range of festive offers in partnership with thousands of retailers across India".
We have round up some of the deals that might help you with the Diwali shopping.


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THE Isle of Skye Brewing Company has declared its intention to ramp up production by 30% and build a visitor centre as it unveiled a new brand identity for its product range.
Managing director Kenny Webster announced plans to grow the business a year after he acquired a controlling stake from founder Angus MacRuary.
Mr Webster moved to take 80% of the company after Skye's proposed merger with Arran Brewery fell through.
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Mr MacRuary, who is now the company's operations director, retains a 20% stake, while his wife Pam remains in place as head brewer.
Since taking control, Mr Webster has carried out a full review of the business and cut costs by opening a distribution centre in Rutherglen.
Now he is looking to drive sales after overseeing a packaging revamp of the brand, complete with new product names.
The changes have seen the brand's previously traditional appearance replaced with a more contemporary look, while its Red Cuillin, Black Cuillin and Hebridean Gold ales have respectively been renamed Skye Red, Skye Black and Skye Gold. A new beer, Skye Blaven, joins the range. Talks are due to take place with a view to securing listings with major supermarkets, with plans also in place to build export markets in Scandinavia and the US in the next 12 months.
Mr Webster, who has boosted Isle of Skye's headcount by four to 14 staff since taking over, said the brand is realising the potential he always knew it had.
He said: "The brewery was set up by Angus and the products are just absolutely fantastic. But it did not stick out from the crowd. It had a traditional appearance on it, whereas now we have changed all the imaging.
"We now have bold colourful packaging which will get to the younger craft beer drinker."
Mr Webster is scheduling further investment in the business, with plans to build a visitor centre and expand production in Uig in the next five years.
The company will shortly purchase two fermenting and conditioning tanks, which Mr Webster said will increase production by nearly a third.
He added: "I reckon [in] this next financial we will increase [turnover] by about 30%. Last year [turnover] was just short of £600,000." Mr Webster, who is based in Glasgow, noted the positive impact brought by the brewer's 4000 square foot distribution hub in Rutherglen.
As well as bringing cost savings, he said it has improved distribution in the central belt. Sales for March were expected to have been up by between 9% and 10% compared with March last year.
Leading chef Tom Kitchin is currently trialling its new keg ale, Skye Eilean-or (Gaelic for Highland gold) at his Scran and Scallie restaurant in Edinburgh.
Under the new distribution system, the beer is dispatched from Skye in kegs and bottles on pallets, before being supplied in turn to pubs and restaurants around the central belt.
Mr Webster said: "The publicans in Glasgow and Edinburgh did want the product.
"The problem was the van used to come down on a Monday, once a week, whereas we have got a van out delivering every day now. It is a win-win for us, really."
Mr Webster's acquisition of a controlling stake in Skye was the first major commercial move he made since his former companies, soft drinks firm Sangs and petrol forecourt operator Calanike Retailing, were respectively put into administration and receivership by Allied Irish Bank UK in 2012. Mr Webster said yesterday the bank had put Sangs into administration "without any warning".
At the time AIB said it could not comment on individual customers.
Sangs was bought out of administration by Cott Beverages, part of Canada's Cott Corporation. Mr Webster added: "I had been looking for something I could get my teeth into. As much as I hate to say it, I was looking for a labouring brand.
"I know the brand [Skye] had something there, it just needed to be commercialised a wee bit."
Mr Webster intends to buy Mr MacRuary's 20% stake within the next 12 months.


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Tech and Science Daily | Evening Standard
Capitol riot: Prince Harry says he warned Twitter boss
Prince Harry says he warned Twitter boss Jack Dorsey ahead of the Capitol riot in January. He claims he emailed the CEO saying that the platform was allowing a coup to be staged - a day before the attack.
Google has won a £3billion legal fight over UK iPhone ‘data misuse’, one of Apple’s original computers has sold at auction and scientists have made a groundbreaking breakthrough with inflammation.
Plus the latest scientific crossing of Antarctica, how we’re one step closer to a potential ‘Britcoin’ and all about Sir Peter Jackson selling his visual effects studio - Weta Digital. And, the app which can match your photos of your pet with classic works of art. See acast.com/privacy for privacy and opt-out information.


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The customers of Skye Bank Plc have been expressing their joy and appreciation over the wind of change, transformation and empowerment currently blowing across the bank. The Group Managing Director/CEO, Mr. Tokunbo Abiru is without a doubt a man of his words.
The management of the bank has continually shown its unwavering commitment and passion in taking the bank to a greater height. Not only has the Tokunbo Abirus led management repositioned the fortune; the management has also proved it care about the empowerment of its customers.
Since joining Skye Bank in 2016, Abirus ingenuity and leadership style has helped in changing the fortunes of the bank in less than two years. Within a short period at the helms of affairs at Skye Bank, Abiru has championed series of transformative business initiatives geared towards repositioning the image of the bank to the admiration of both the customers and shareholders.
The management of the bank, fully aware of the difficulties customers go through in accessing funds for their business, established an empowerment scheme- Reach for the Skye Millionaire reward promo to increase the flow of funds to support SMEs, accelerate employment generation and development of indigenous entrepreneurship as well as encourage saving culture among Nigerians.
The Adetokunbo Abiru led Skye Bank a couple of days ago in the news for a good reason- empowering millionaires. Skye Bank through its Reach for the Skye Millionaire reward promo produced another millionaire in Port Harcourt Rivers State.
The reward promo which has seen several customers of the Bank winning N1million, and other consolation prizes, recently moved to Mile 3 Market Park, Port Harcourt, Rivers State with another millionaire emerging through a transparent electronic draw under the watchful eyes of the officials of Consumer Protection Council (CPC) and National Lottery Regulatory Commission (NLRC).
Apart from the grand prize of winning N1, 000,000, several customers also won various cash prizes including N100, 000 for 10 customers, N50, 000 for another 10 customers and N20, 000 for 20 loyal customers and these mouth watery prizes exists every month throughout the period of the scheme. Gift items such as table top fridge, generator, table top gas cookers, mobile phones, blenders and recharge cards are also available to be won.
Since it was introduced, the Skye Bank Reach for the Skye Millionaire reward promo has been changing the lives of many for the better. The initiative, which is open to all individual savings account holders in the bank, has produced previous millionaires including Olusola Olusegun Ezekiel of Ikorodu branch in Lagos; Elizabeth Ohaeme of Mgbidi branch in Owerri and Buhari Aminu of Ibrahim Taiwo branch in Kano and other consolation prizes, meant to encourage savings culture amongst the retail market segment.
Speaking on the Banks commitment, Group Head, Product & Innovation, Skye Bank Plc. Ndubuisi Osakwe said the reward initiative provides a unique opportunity for the Bank to stay in touch and reward its savings customers, who have unique roles to play in the countrys economic expansion.
Part of activities lined up for the event is the instant reward for people who open any savings account during the draw as well as the electronic draw for cash prize winners. The instant reward items at the draw venue include: generator sets, refrigerators, blenders, phones, table gas cookers and even recharge cards.
Skye Bank is Nigerias leading retail bank with wide-ranging electronic solutions promoting consumer lifestyle and e-commerce experience for its customers


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Hyper-convenience startups in India have not witnessed much success - most of them have either folded or completely changed their strategies to suit the complex market needs. But one startup managed to do what others couldn't, so much so that it caught the fancy of Google. Bengaluru-based Dunzo is the panacea for the urban Indian, who is pressed for time to run errands.
With a fleet of more than 4,500 runners and averaging a quarter of a million transactions a month, Dunzo helps complete everyday tasks such as buying medicines, groceries, picking up or dropping off laundry, purchasing cigarettes, delivering potted plants, and dropping off house keys and mobile phones to owners that may have left them behind someplace. Through a data-driven platform, Dunzo connects a runner located nearest to the user. The runner’s activity can be tracked from start to finish. Users can edit tasks through chat, and even send relevant images for specific purchases or requests. Direct online payment options through Dunzo Cash or other digital payment providers seal the deal for the user, who can finish up to 10 tasks at a time on Dunzo in a couple of hours at best.
This convenient, daily-task management app caught the fancy of Google. Dunzo is the first Indian startup to have bagged direct funding from Google, part of the Internet behemoth's plans to diversify its interests in India's growing startup ecosystem. In addition to Google’s $12 million investment, Dunzo has been funded by Blume Ventures, Aspada Investments as well as some angel investors.
Customer First, Always
Founder Kabeer Biswas believes there are a few aspects that have helped Dunzo differentiate from competition and eventually create a niche as a leader in hyper convenience. "Dunzo can be called a self-completing to-do list. The biggest benefactor here is the customer, and we aim to provide a smooth experience for the user on the platform.” Though Dunzo raised money by 2015, it was not until the following year that they got the right product market fit. By 2017, Biswas and his team decided to scale operations significantly across Bengaluru.
Despite 2016-17 being particularly challenging for raising funds in India, Dunzo was one of the few startups that attracted big-ticket investments. Moreover, the failure of several hyper-convenience startups such as Dazo, Opinio, Eatlo and Spoonjoy made investors wary of venturing into this space.
So what made investors confident of backing Dunzo?
Karthik Reddy, managing partner at Blume Ventures, which is one of Dunzo’s primary investors recalls that his company first invested in Dunzo based on positive word-of-mouth reviews, the database of nearly 7,000 users that were hooked to the product and the team’s single-minded, user-centric approach. “Consumer internet products take a while to build product in India, but they have to remain nimble to the way users are responding. Dunzo managed to do this effectively over its course, which led us to invest in them, even in a tough market space,” says Reddy.
Biswas started off by running errands for friends through WhatsApp. By 2015, Dunzo was completing around 70 tasks a day. Now, traffic on the platform is consistent for up to 22 hours, with the highest number of requests coming in between 5 p.m. and 11 p.m. Biswas says 55% to 60% of transactions on the platform are made by women. Bangalore is its highest volume market, but Gurgaon and Pune are growing fast. Earlier, Dunzo runners would take up to 45 minutes to complete a task, but thanks to a fast and effective data-driven platform, the average running time has been brought down to seven minutes per task.
Building Product To Enhance Hyper Convenience
Dunzo continues to keep user convenience at its core and its strategic industry alliances are proof of the same. Fintech startup Simpl is one of the payment providers on Dunzo. Unlike other digital payment providers, Simpl allows a user to make multiple purchases with one tap, and sends a consolidated bill once in two weeks. Biswas said that nearly 35% of Dunzo's transactions are repeat purchases, so a payment option like Simpl makes it easier for customers to transact on the platform.
Nityanand Sharma, cofounder of Simpl, says, "Platforms like Dunzo, Uber, AirBnB among others are highly intelligent, with a strong user-centric business model and aim to make customers’ lives easier. Where they run into trouble is the last leg of the user experience – payments. This is what we are addressing, with the goal of making payments as intelligent and intuitive.”
Sharma says he resonated strongly with Dunzo’s core principle of enabling a smooth customer experience and decided to collaborate with them as a payment enabler to ensure the Dunzo experience is hassle-free from start to finish. “Consider Simpl as a data-driven, intelligent platform that allows merchants to keep a running tab with their regular users,” he adds.
Now, Biswas is exploring Dunzo’s expansion into other cities like Hyderabad and Chennai. The startup is also keen on venturing into bike-sharing, which will allow Dunzo partners to transport users to a destination. Although motorbike taxi services in India have experienced roadblocks in the past, Biswas is hopeful of working with the government to enable large-scale bike sharing in the near future.


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The Bella Siberia company (a subsidiary of the Polish TZMO group) is going to open a weaving plant in Novosibirsk in August 2021. The company intends to create a medical gauze production facility. The project investments will be over RUB 1.5 billion.
Bella’s new hygiene products factory will be built in Yegoryevsk, near Moscow, Glavgosstroynadzor of the Moscow Region reported.
In December 2020, Bella Siberia plans to launch a medical device production plant with an area of 10 thousand sq. meters in Novosibirsk. Investments in the project will amount to RUB 500-600 million, CEO of Bella Siberia Grzegorz Sułkowski told TASS.
Design work for the construction of the next production building of Bella began in Yegoryevsk. The company is included in the list of region’s backbone enterprises, according to the press service of the Ministry of Investment, Industry and Science of the Moscow Region.
Yegorievsk-based Bella obtained all required certificates and started production of facial masks. The first 3,000-mask batch was donated to Yegorievsk Central Regional Hospital.
The company plans to implement three investment projects related to the medical device production.
After the launch of projects, 80% of the TZMO SA total turnover sold in Russia will be the products of the company’s Russian enterprises
In 2018, Bella Sibir, subsidiary of the Polish TZMO Group, intends to start production of household chemicals in Novosibirsk. This was announced today at the meeting with the mayor of Novosibirsk, Beata Rogalska, TZMO SA director on the Eastern market, said: "As long as we produce paper products here, in the near future, in 2018, we intends to start the production of household chemicals, including specialized medical chemical products."
Poland’s TZMO s.a (a major world producer of medical and cosmetic products) has introduced a new building of a logistics complex in Novosibirsk, where the paper napkins production line is located, as reported by the Interfax correspondent from the opening ceremony of the production line on Tuesday.
By the end of this year, Bella Siberia, a subsidiary of TZMO, the leading European manufacturer of personal care products under Bella brand, will launch tha production of personal care products for individual consumers and hospitals in Novosibirsk. Alexander Lyulko, Head of Department of Industry, Innovations and Business of the City Government has reported this information today to TASS correspondent.
The Ministry for Investments and Innovations of Moscow Region has announced the opening of Bella’s fifth industrial complex for children’s personal care products that took place in Yegoryevsk this Monday.
“We are especially happy as the company has been in the region for quite a long time and continues to invest, about RUB 400 mln has been invested in the new complex”, Deputy Prime Minister of the Government of Moscow Region reportedly said.
BELLA SIBIR, a subsidiary of Poland’s TZMO S.A. (Poland), plans to launch its own production of medical consumables and to open a sterilisation centre in Novosibirsk by the end of this year.
TZMO S.A. Group will build a complex in the Region with a sterilisation centre to produce medical consumables. RBC.Novosibirsk was informed about this by Mr Grzegorz Sułkowski, BELLA SIBIR's General Director. The Company already has permission to implement the second stage of the investment Project. The estimated investments in the complex will amount to about RUB 1 bn. The area for Project implementation is 1.5 hectares. The new production unit will be located on the site of BELLA SIBIR, a functioning logistics complex opened in 2013. "The new production unit includes manufacture of specialised products for hospitals, such as plasters, bandages, sterile consumables”, explained Mr Sułkowski. "The sterilisation centre and laundry are a rather narrow area of the Company's activities associated with hospitals and the hotel business." Mr Sułkowski also noted that the new production complex would allow the Company to extend its cooperation with medical institutions and the hotel industry in Novosibirsk."
BELLA SIBIR LLC, a subsidiary of the Torun Materials Distribution Plant (TZMO S.A.), is Europe's leading manufacturer of hygiene products, perfumery and cosmetics. In 2013, BELLA SIBIR opened an automated logistics complex in Novosibirsk with a total area of 10,000 sq. m.


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Neotech Announces Release of 3D Printed Electronics Platform
|German company Neotech AMT announced it planned to release commercially a production platform for sintering 3D printed electronics. This new machine, called LBS 45XE, uses light beam sintering to place neotech-logoAg inks onto polymer substrates. Managing director of Neotech, Dr. Martin Hedges, explained the new machine's benefit for their clients:
"This platform will assist customers to develop novel 3D printed electronics structures on low temperature substrates. The initial target markets are printed antenna for mobile phones and heater patterns for the automotive industry. The LBS 45XE has been designed for mass production with low operating costs. The system will be a very useful complement to our current range of five axis printing platforms to advanced 3-D print electronics."
A case study performed by Neotech AMT's research and development team, using the newly released machine, demonstrated improvements in design flexibility, reductions in product thicknesses, and environmental benefits when printing cell phone antennas as compared to the traditional processes for their creation. The digital nature of the process made possible with this machine eliminates the need for hard tooling, special plastic resins, and plating processes.
This machine can carry out sintering processes on up to five axes of motion simultaneously. Each has its own individual light source that is tuned to the particular absorption wavelength of the printed media. That light beam allows for local heating and sintering to be focused on a very specific area, leaving the surrounding material unaffected. That centered area leaves a trace that is both conductive and has strong adhesive and cohesive strength.
Neotech has been involved in the development of systems for 3-D printed electronics since 2006. The company is located in Nuremberg, Germany and rose to stardom when they installed the world's first five axis 3D printed electronics system in 2010. The advent of that system allowed for the combination of hardware and software elements capable of producing complex circuitry on nearly all 3D services. With the announcement of their latest technological contribution, they are advancing capabilities for 3D printing of electronics. There are other companies pioneering developments in electronics printing technologies, such as Optomec, developer of an aerosol jet printing process. Neotech is, in a sense, standing on the shoulders of giants by combining motion 3D toolpath generation software, Optomec's aerosol jet print engine, and a five-axis CNC motion platform.
This new technology is most likely one step on the pathway rather than endpoint itself. Just as Neotech has built upon their ability to understand potential connections among existing technological capabilities, it is only a matter of time before Neotech or someone else develops an integrated electronics printer capable of producing both the object and its electronics at the same time. It will certainly be interesting to watch as this technology furthers its uses within manufacturing. Let us know what you think about this new electronics 3D printing platform in the Neotech electronic 3D printer forum thread on 3DPB.com.


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Amazon is due to launch a new, free streaming music service that promises to spur competition from technology giants in the industry. The app will not be charged because it will be supported by ads, but it should also have the artists and works catalog limited to the company's paid music service, according to Billboard.
Amazon currently has the Amazon Prime service package, which includes Prime Music. Customers can also subscribe to the music service separately, which is Amazon Music Unlimited.
The free service will be marketed along with its Echo speakers, making it an initial option for those who do not wish to have a paid service, as well as a direct competitor of Spotify, as it will not be necessary for the user to search for a service. the 3rd.
According to the Tecmundo website, even without Amazon confirming the news officially, on Monday (15) shares of Spotify, leader in the sector, fell more than four percent. Until February, Spotify had 116 million free users and 96 million subscribers.
By 2018, Amazon's music service had 20 million subscribers, but since many of them have the service through the Prime package, it's not known if they are all really active users.


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Home Tags Unicorn
European payments solution provider Checkout.com has reached a $40bn valuation, after it closed a colossal $1bn in its Series D. The valuation has more than...
Alternative investment platform CAIS has joined the unicorn club following a $225m investment round led by private equity firms Apollo and Motive Partners.
iCapital Network, which is boosting access and efficiency in alternative investing industries, has scored $50m in fresh funding, which brings its valuation to $6bn.
There were 151 FinTech companies among the 457 new unicorns across all industries this year
UK digital bank giant Monzo has reached a $4.5bn valuation after it recovers from its slump in 2020.
Cross-border payments company Chipper Cash has become a FinTech unicorn after a $150m Series C extension round pushed its valuation just above $2bn.


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June 24, 2010: American Home Shield Announces Bonus Rewards Program for Contractors
MEMPHIS, Tenn. - American Home Shield (AHS), a leading provider of home warranty plans, has introduced a new rewards program for its contractors that places a premium on customer service by making up to $1.2 million available in bonuses. The Contractor Quality Bonus program, said to be a first of its kind in the home warranty industry, rewards AHS contractors for quality service.
“We are very pleased to be taking the lead in establishing this innovative contractor rewards program that puts customer service front and center,” said Dave Quandt, senior vice president of field operations. “Our 11,000 licensed contractors service nearly one-and-a-half million customers each year. It’s their feedback that best measures our quality, and AHS is challenging our contractors to always keep customer satisfaction top priority.”
As a part of the Contractor Quality Bonus program, AHS will reward a $25,000 bonus to the top performer in each of its six service categories (HVAC, plumbing, pool/spa, appliances, electrical, and garage doors). In addition, 180 top performing contractors will receive bonuses up to $15,000, depending on service trade and number of work orders. American Home Shield began briefing contractors on the rewards program earlier this year, and the full program will go into effect on July 1. The company has set up a special website, www.AHSBigScore.com, to keep contractors up-to-date on the latest information about the program.
“I encourage our technicians to treat each home as if it was their only customer that day,” said AHS contractor Greg McCallister, owner of Alpine Heating and Cooling. “When we’re called to a home, it’s usually because an appliance or system has broken down unexpectedly. The homeowner is understandably frustrated. We’re there not only to take care of the situation, but to do so in a way that’s professional, polite, and respectful, and that ensures the overall experience is a positive one.
“The fact that we have the opportunity to now earn an additional $25,000 for doing those things is incredible.”
Quandt believes that despite the current economic environment, now’s the best time for businesses to invest in programs that promote and strengthen a quality-oriented culture.
“So many companies are looking for ways to save money, and incentive programs are often the first to go. And, a lot of companies say they’re committed to quality, but they don’t invest in it. Not at American Home Shield.
“Quality is an important part of our culture, and it’s important to us that we reward our contractors who do an outstanding job of providing quality service to our customers.”
For more information, visit www.ahs.com.
Publication date: 06/21/2010


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Company car drivers push sales to record
CAR sales are on course for a fourth successive record year, pushed higher by companies renewing their fleet vehicles after buying by private motorists tailed off.
Industry sources said a good start to December suggested that sales would hit 156,135 for this month. This total would be needed for 2004 to surpass last year's all-time sales high of 2.58m vehicles.
Figures from the Society of Motor Manufacturers and Traders will be released early next month, but the latest numbers for the first two weeks of December point to the record being broken for the fourth successive year.
For most of the year, sales to companies, mainly due to the replacement of ageing vehicle fleets, have outpaced retail customers who have driven the market in recent years.
But dealers expect private customers to return in the New Year with several makers lining up big campaigns, including 0% finance deals, to lure them back. A sign that they are preparing for a New Year push is that production rose 4.5% last month, the highest November output since 2000.
November sales figures from the SMMT show registrations rose 1.8% to 172,094 vehicles, which left the year to November only 682 units behind the same period in 2003.
Trevor Finn, chief executive of Pendragon, the biggest car dealer, said: 'The strength of corporate sales has helped to compensate for weakening sales in the private sector.'
The Ford Focus is expected to be the best-selling car for the sixth successive year, while another feature of 2004 has been the growth of diesel cars. They now account for more than a third of all cars sold.
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Guest opinion: U.S. Senate should stop Vermont GMO law
Colorado agriculture might soon be forced to turn back the clock on decades of progress — thanks to a Vermont law taking effect July 1 — unless the U.S. Senate steps in and acts.
Agriculture contributes $40 billion to our state’s economy every year, and in recent decades, farmers and ranchers have used an advancement called biotechnology, or genetically modified organisms (GMOs), to help them achieve such levels of beneficial production.
Seeds developed through biotechnology offer a plethora of benefits, such as less irrigation, less pesticide use, reduced greenhouse gas emissions and higher crop yields that make food more affordable.
Unfortunately, as is common in the internet age, a few committed activists spread misinformation about this technology, working to drive it from the marketplace, using mandatory labeling laws for foods made with GMOs.
In 2014, Colorado residents voted against such a proposal by a wide margin. Yet Vermont is set to implement a mandatory labeling law in July that would impact us here in the Centennial State.
We currently have a national food chain that allows products to move between states. National food-labeling standards enable this system to operate smoothly, keeping commerce flowing and food prices affordable.
Farmers and food companies are not set up to navigate a patchwork of differing state laws, and such changes would lead to price hikes at the grocery store.
Food companies are also concerned that on-pack labeling would mislead consumers, causing them to believe foods bearing a GMO label should be avoided even though there’s no scientific justification warranting that belief.
The safety of GMOs is well-documented, and supported by health and scientific authorities covering the globe, including the American Association for the Advancement of Science, American Medical Association, European Food Safety Authority, the Food and Agriculture Organization of the United Nations, and World Health Organization.
Each GM seed variety takes an average $136 million and 13 years to bring to market because of the safety studies and regulatory approval processes necessary.
In response to what was described as an information gap at the time, Italian scientists in 2013 analyzed 1,783 studies around the world, spanning the previous decade, regarding the safety and environmental impacts of GMOs. They couldn’t find a single credible example demonstrating that GMOs pose harm to humans or animals.
And in 2015, a massive, peer-reviewed, food-safety study — involving 4 billion farm animals fed GM foods and 4 billion animals fed non-GM foods — showed no differences in animal health, growth or fertility. No quantifiable traces of GM components were detected in milk, meat and eggs following the animals’ consumption of GM foods.
So, with that much science backing the safety of GMOs, why go the route of mandatorily labeling GM foods, potentially stigmatizing this beneficial technology, while also raising food prices for consumers?
Non-GM products already exist, and are labeled as such, for those who don’t GMOs in their food.
Colorado voters shouldn’t pay the price because Vermont passed a law that threatens to turn the entire country’s food system on its head.
Time is running out.
The House of Representatives passed a bill last July that would pre-empt Vermont’s law, but the Senate has stalled the debate.
With only a few weeks left to act, the Senate has an opportunity to iron out a solution that creates a consistent, national-labeling standard while preventing the stigmatizing effects of on-pack disclosure.
Colorado Sens. Michael Bennet and Cory Gardner should lend their support to a bipartisan approach that protects scientific progress, the agricultural community and family budgets.
Mark Sponsler is the executive director of the Colorado Corn Growers Association, based in Greeley.
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Google Play Music App Finally Available For iOS
Google introduced the Google Play Music app for iOS Friday, months after the initial launch date.
Google announced Friday its much-anticipated Google Play Music app finally made it to Apple's App Store, only a few months delayed and a few features short of the Android version.
Google's on-demand music streaming service for iOS allows users to store up to 20,000 tracks — from iTunes or wherever else — for free. That's, like, more music than anyone would ever need. (Via MobileBurn)
As far as design goes, a writer for 9to5Mac says, "Google's music ecosystem differs greatly from Apple's and more closely resembles Spotify or Amazon with a focus on the Cloud." (Via 9to5Mac)
PC Magazine adds, "The app has a mix of Google and iOS 7 flavor with swipable columns and Android-y cards." (Via PC Magazine)
Users can listen to songs backed up on Google's cloud. And if you really want to put it on cruise control, the app's radio feature mixes the songs in your collection with the same algorithm used for the All Access version.
All Access is, presumably, the biggest draw for Google Play Music.
For about $10 a month, you get unlimited songs and algorithm-based recommendations, and you can skip songs like crazy. That's just in case the algorithm throws you a curveball ... like Tay Swift on your "Get Crunk" station. (Via VentureBeat)
And it's ad-free, but the iOS version isn't quite on par with the Android version.
For one, the "I'm Feeling Lucky" radio station, which builds a playlist from your preferences, isn't there. So no music roulette just yet. And you can't buy new music through the app, nor can you subscribe to All Access through a smartphone. (Via The Next Web)
But, according to product manager for Google Play Music Brandon Bilinski, those things are coming, along with an optimized version for iPad.
Bilinski told The Verge the months-long delay was also for good reason. He said, "It just took us a little longer than we thought to bring it up to the level of polish expected from Play Music and iOS apps." The end result is an app with both AirPlay and Bluetooth capabilities.
Google Play Music is available in nearly 20 countries. That includes the U.S., the U.K., New Zealand, Mexico and Spain.
Romance scams becoming more common as stigma around reporting remains
Romance scams are the type of scam that people lose the most money to, according to the Federal Trade Commission.By Shutterstock
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Officials said the targeted syndicate, known as Hive, is among the world's top five ransomware networks and has heavily targeted health care.By Jose Luis Magana / AP
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Calgary, 4 April 2023 – The month-long event to celebrate, promote, and mainstream the Filipino cuisine in Canada has officially started.
In a luncheon event organized by the Philippine Consulate General (PCG) in Calgary at Chopstix Filipino Restaurant on 1 April 2023, about 80 members of the Filipino community gathered to mark the start of the 2nd Filipino Restaurant Month in Canada (FRMC).
In welcoming the guests, Consul General Zaldy Patron explained the background and objectives of the 2nd FRMC, a joint project of the Philippine Embassy in Ottawa, the Philippine Consulates General in Calgary, Toronto, and Vancouver, the Philippine Department of Tourism, and the Philippine Department of Trade and Industry.
“This nationwide project will help elevate the stature of the Filipino cuisine in Canada while also helping our Filipino-owned restaurants grow their business,” Consul General Patron said.
“I would like to seek the support of the 957,000-strong Filipino community in Canada for the 2nd FRMC,” he added.
The ongoing FRMC, taking place from 1 to 30 April, has 47 participating restaurants in 19 cities and eight provinces across Canada.
Every order of the FRMC prix fixe menu at any of the participating restaurants will entitle diners to a free raffle entry that will give them a chance to win major prizes, such as two (2) roundtrip domestic plane tickets in the Philippines, 3D/2N hotel accommodation in five (5) hotels in the Philippines, a CAD500 travel voucher for travel to the Philippines, a culinary tour in the Philippines, and gift certificates to Seafood City.
The minor prizes include dining certificates to the 47 participating restaurants and a CAD100 travel voucher.
Gracing the FRMC luncheon were Alberta Advanced Education Minister Demetrios Nicolaides & Madame Michelle Nicolaides, and Ms. Linda Garson, Editor-in-Chief, Culinaire Magazine, Alberta’s biggest food magazine.
The paying guests who attended the event mostly came from the following organizations: Filipino Airdrie Association, Filipino Catholic Society of the Diocese of Calgary, Philippine Cultural Center Foundation, UP Alumni Association of Alberta, Knights of Rizal (Calgary & Airdrie Chapters), Sulong Kalayaan Society, and Pangasinan Society of Calgary.
In his remarks, Minister Nicolaides gave his full support for the FRMC as he disclosed his experience growing up in a Greek restaurant that his family owns since 1986. Likewise, he acknowledged the importance of the large Filipino community in Calgary and how they contribute to Alberta’s cultural diversity.
The guests were able to enjoy various Filipino dishes, such as beef kaldereta, beef pares, chopsuey, pork menudo, lumpiang shanghai, fresh lumpia, pancit, puto, and turon. These are some of the dishes that Chopstix is serving for the 2nd FRMC.
The next day, 2 April 2023, Consul General Patron dined with members of the Filipino community at Rise N’ Shine Breakfast Place, another FRMC participating restaurant in Calgary.
For the 2nd FRMC, Rise N’ Shine offers Filipino breakfast, such as daing na bangus, beef tapa, pork tocino, and longganisa.


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New Delhi: At the same time as there isn’t a readability on the subscription costs for Twitter Blue Tick customers, information stories are pouring in that Twitter’s new boss Elon Musk will cost every consumer a subscription payment so as to allow them to use Twitter service.
As per stories within the numerous media homes Musk is considering to cost “most or all Twitter customers” a subscription payment so as to achieve entry to the microblogging website.
Twitter has delayed the roll out of its much-anticipated Blue subscription service with verification tag for $8 after the US midterm elections.
Musk initially wished workers to roll out Blue with verification by November 7 “and threatened to fireside them in the event that they did not meet this deadline”.
The brand new Twitter Blue service comes with fewer advertisements, search precedence, a capability to put up longer movies, and a blue badge.
Anybody can now get a verified checkmark in the event that they pay for Blue each month, which has sparked severe issues over spot actual Twitter accounts from pretend ones.
With IANS Inputs


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Hong Kong-listed Brightoil Petroleum Holdings is keen to buy more upstream gas assets to secure long-term growth and aims to sell more crude and chemicals to China, the world's largest energy consumer, Chairman Raymond Sit said.
Brightoil, the second-largest supplier of marine fuel in Singapore and China, wants to expand its upstream and trading businesses to other products after a slowdown in the shipping sector eroded its profit 76 percent in the last fiscal year. "China is a big supermarket in the world. They need energy, they need crude oil. For our company, we must capture this opportunity," Sit told Reuters.
This year, the 44-year-old Sit, who is believed to enjoy warm ties with officials in Beijing, travelled between 300 and 400 hours in search of "big gas blocks".
He declined to say where the prospects were, but added that an uncertain outlook for oil prices made it challenging to decide when to acquire these assets.
Brightoil owns two gas blocks in China, but Sit is not keen to jump on the shale gas bandwagon, even though Beijing has opened the sector to private companies controlled by Chinese investors.
"I don't like shale gas...It's difficult to make money," he said, adding that shale development was better left to international oil companies with the experience and resources.
China is on course this year for its weakest full year of expansion since 1999, although the latest data show the slowdown is bottoming out in the fourth quarter. Sit expects the global economy to improve in 2013 and wants to capitalise on a rise in China's demand for fuel and chemicals.
"China is going to open the door more for private companies," he said. "They will need more energy to support China's growth."
POSSIBLE CUT IN SALES VOLUME
Brightoil could cut its sales volume to minimise credit risks, as the shipping sector remains in the doldrums, Sit said, but he did not say by how much. Shippers have been suffering from an oversupply of vessels in a weak global economy.
"For bunkering I think it is very difficult because the shipping sector is losing money," he said.
He expects Brightoil to trade 10 million to 12 million tonnes of oil products in the next fiscal year, but declined to give this year's figure.
Brightoil posted a 76 percent plunge in profits in the fiscal year that ended in June, which has also seen the exit of chief executive Quek Chin Thean and the fuel oil


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Microsoft last Friday night announced the availability of the Microsoft Lumia 535 Dual SIM, the first Microsoft branded smartphone, in Uganda.
Brand ambassadors explained the functionality of the phone and what features it comes with. Some of the captivating features they talked about are:
• Making Skype video calls with the 5MP wide angle front facing camera, and seamlessly switch between voice and video with built-in Skype integration.
• Accessing, editing and sharing Word, Excel and PowerPoint documents and OneNote notebooks, with the pre-installed Office suite.
• Saving and syncing photos, videos and Office documents securely with 15GB of free OneDrive cloud storage.
• Ability to connect with work and personal e-mail while on the go, with Microsoft Outlook built-in.
“Many people, especially the younger audience, aspire to own the latest flagship smartphone but often don’t have the means to get it,” says Mariam Abdullahi, General Manager Microsoft Mobile Device Sales, East Africa. “With access to the best services right out of the box, including the Windows Phone 8.1 update, Lumia Denim, The Lumia 535 Dual SIM helps people do more of what they want, for less.”
Daniel Arinaitwe one of the guests said he liked this phone’s camera, but wasn’t sure about its battery life. “Most smartphones disappoint when it comes to its battery life. Yes, the features may be cool but is the battery strong enough,” he queried. A quick Google search about this phones battery life showed that it goes for as long as 11 hours with average usage.


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Korean telecommunications provider SK Telecom has long wanted a bigger beachhead in the U.S. Last year the company went so far as to make an audacious attempt to buy a stake in Sprint Nextel (S), according to reports. That deal didn't pan out, but SK Telecom is once again combing the sands on this side of the Pacific.
SK Telecom has confirmed reports that it's in preliminary discussions to buy Virgin Mobile USA, the wireless carrier initially formed as a joint venture between Sprint Nextel and Virgin Group. The discussions extend to Helio, a wireless carrier that's 70% owned by SK Telecom and 30% owned by EarthLink (ELNK), a telecommunications service provider. 'These discussions are in early stages,' Helio spokesman Rick Heineman wrote in an e-mail. 'There are no assurances that any transaction will result.' (An inquiry sent to EarthLink was forwarded to Helio.)
If the companies do get together, it's not clear how the resulting entity would be structured. SK Telecom could combine the smaller carriers, reducing expenses by eliminating overlapping operations and boosting revenue by catering to a larger U.S. customer base.
Together, Virgin Mobile and Helio have 5.4 million subscribers. South Korea is years ahead of the U.S. in terms of wireless technology, and SK Telecom could tap its expertise to introduce advanced mobile applications to Virgin Mobile's and Helio's mostly younger customers, who tend to be early adopters of new technology. 'Virgin Mobile will give SK a bigger user base with which it could experiment on various mobile Internet services,' says Stan Jung, telecom analyst at Seoul-based brokerage Woori Investment & Securities.
Other efforts to widen SK Telecom's U.S. base include the creation last year of a $110 million U.S. holding company, SKT Holdings America, which is headed by Yoo Hyun-Oh, who until last year was the CEO of SK Communications, a subsidiary of SK Telecom that runs the popular social network Cyworld. 'We are interested in entertainment and other content businesses as well as mobile financial services,' SK spokesman Weon Hong Sik says. 'An acquisition is in our cards for our content business.'
SK also recently formed Mobile Money Ventures, a joint venture with Citigroup (C), to develop global mobile financial services. Each will invest $8 million to begin testing the services with Citi customers in selected Asian countries and North America.
To clinch the Virgin Mobile deal, SK Telecom may need buy-in from Sprint Nextel, which still owns a small sliver of Virgin Mobile through its Sprint Ventures arm. Sprint rebuffed SK Telecom's attempt last year to buy a stake in Sprint, according to published reports. (Neither company would comment.)
But Sprint may not veto a Virgin Mobile deal. Sprint is hemorrhaging customers who are disaffected by poor customer service and low network quality (BusinessWeek.com, 5/13/08), and the company has said it might sell 'noncore assets' or take other measures to remain in compliance with financial covenants with lenders. In May, Sprint also lost big customers in Embarq (EQ) and Qwest (Q).
Helio and Virgin both use Sprint's network to provide wireless service and account for about 10% of Sprint's subscribers and more than half of its wholesale users. 'Sprint is in a very different spot within the slowing wireless industry,' says Chris King, an analyst with Stifel Nicolaus & Co.
Virgin's higher end‾
Virgin Mobile has hit on rough shoals since its initial share sale (BusinessWeek.com, 2/14/07) in October, when it made its at 15. The stock has since tumbled amid the company's sluggish subscriber growth and a heavy debt load. Shares were worth 3.04 the day before the discussions with SK Telecom were made public and rallied to 3.43 as of the close of trading on May 16.
Virgin Mobile eked out a profit of $4.7 million on sales of $304 million in its most recent quarter. 'They need to be more creative about products and services,' says Samir Sakpal, an analyst at consultancy Frost & Sullivan. Virgin has been experimenting with more expensive calling plans, and a tieup with SK could help the company grab higher-end users.
A helping of Helio
SK Telecom would surely try to use a link with Virgin Mobile to shore up Helio, which has not lived up to expectations. Last year, Helio lost more than $90 million a quarter, or nearly twice its revenue. Helio's subscribership is about 200,000 users, where it has remained since December. SK Telecom could reduce expenses in part by combining Helio and Virgin Mobile's IT and other operations.
The two smaller companies would also benefit from combining their hip, youth-focused applications. Helio offers mobile access to social networking site MySpace, while Virgin provides access to Facebook and Xanga.com. Helio also offers advanced video applications and an over-the-air music service that Virgin may want to copy.
Teaming up may be the last, best hope for Helio and Virgin Mobile. Several in their peer group, including Disney Mobile, ESPN Mobile, and Amp'd Mobile, have recently exited the market, leaving customers in need of a new home.
Copyright 2000-2008 by The McGraw-Hill Companies Inc. All rights reserved.


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The authoritative independent voice of the UK food industry
The CO2 industry has reached an agreement that aims to ensure UK businesses have access to a sustainable supply of CO2. CF Fertilisers, which supplies around 60% of the UK’s commercial C02 requirements, was involved in the deal. According to the government, CO2...
The CEO of Kraft Heinz, Miguel Patricio, told the BBC that a broad range of factors is contributing to the rising cost of food.
The Food and Drink Sector Council (FDSC) has published its latest report, laying out its proposals that aim to improve the productivity and sustainability of the UK food system.
Red Tractor and YouGov have launched their “Trust in Food” Index, which aims to capture the UK public’s attitudes to food and drink.
Chief executive of Nestle, Mark Schneider, said that the company was experiencing some labour and transport issues, but is working with retailers to supply them.
The announcement comes as the company releases its 2021 Sustainability Report.
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In a new cross-industry report, the UK food and drink sector is asking for a 12-month Covid-19 Recovery Visa to help alleviate the current workforce shortages across the supply chain.
Managing director of Iceland Richard Walker has spoken out about the current HGV driver crisis, calling for change to current visa restrictions on goods drivers.
The latest figures from HMRC show that cheese exports totalled 2,300 tonnes in the first quarter of 2021, driven by increasing demand in South Korea, China, Australia and New Zealand.
The fast-food restaurant chain has experienced difficulties in stocking a number of their branches due to a lack of HGV drivers amid a national shortage.
The British Retail Consortium (BRC) and Logistics UK have written to Business Secretary Kwasi Kwarteng to inform the government of the worsening impact of driver shortages across the food supply industry.
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New York State dealt another blow on the sharing economy yesterday. The state Department of Financial Services announced that it is fining car sharing service RelayRides after a ten month investigation for $200,000 for false advertising and insurance law violation.
RelayRides is the “Airbnb of cars”, letting car owners to rent their personal vehicle like a Zipcar while they’re not using it. Part of the problem, according to the DFS, is RelayRides claimed on its website that “if something unfortunate does happen while your car is being rented, your insurance policy should not be touched.” This isn’t the case – in New York, when someone uses your car with your consent, they’re covered by your own personal liability insurance.
“RelayRides sold New Yorkers a false bill of goods,” Superintendent Lawsky said last May at the outset of the investigation. See, when you use your personal vehicle to start making extra cash, it could count as commercial use, which risks violating your leasing and finance agreement.
According to the DFS release, RelayRides sold insurance and adjusted claims without a license, making customers think they were covered in case of an accident or theft. The findings of the investigation echo concerns that when people rent their personal belongings for extra cash, it might not be clear how much they’re risking.
“We have been actively working with State officials to bring peer-to-peer car rentals back to New York as soon as possible,” a RelayRides representative told Betabeat via email. To do this, RelayRides will have to submit a new business plan to the DFS, who will now be vetting all of their advertisements.
For now, RelayRides is suspending all activity in the state of New York. RelayRides is backed by $18 million in funding from investors like GM and Google Ventures, so the fine won’t bring RelayRides down, or prevent it from operating in other states.
Regardless, in the struggle between government and the “sharing economy”, $200,000 is blood drawn. New York has been particularly aggressive against sharing apps, subpoenaing Airbnb for its user data last October.


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Apple is planning to open Siri up to third-party developers and it appears that Apple TV could be the biggest benefactor from the expanded platform.
In order to better compete with Amazon’s Echo devices, Apple reportedly plans to update the Apple TV with more Siri features that will hopefully turn the device into the hub of everything.
“A new version of the Apple TV will solve problems with the existing box and remote control,” reports VentureBeat, which claims Apple is considering three different options to compete against Amazon’s Alexa-powered Echo speaker.
It was revealed earlier this week that Apple is exploring projects to compete with Amazon Echo and now Google Home. The first step will be to open Siri to developers with an Siri SDK at WWDC 2016, however it’s unclear what type of hardware Apple will develop to compete with Amazon’s Alexa products.
Apple reportedly considered turning Apple TV into better assistant, transforming the Siri TV remote into the key device for an assistant, or making a standalone speaker. The problem with using the newest Apple TV as the input device is it doesn’t have a microphone, while using the mic on the Siri remote would rapidly drain its battery.
The Apple TV will eventually get its own microphone and speaker claims VentureBeat. While the current box can handle dictation it needs more computing power for queries and serving up deeper results.


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Privately held cost-per-click ad network ValueClick said it posted an increase in net revenues for the third quarter of 143.6% over net revenues in the second quarter of 1998.
Specifics were not disclosed, but the company said revenue growth has averaged 85 % percent per quarter since its launch in July 1997. No word on profitability.
“We believe the results this quarter demonstrate continued demand for performance-based solutions among Internet advertisers and Web publishers,” said Brian Coryat, founder and CEO of ValueClick. “With consecutive quarters of steady growth behind us, our cost-per-click model cannot be considered an experiment – this is a clear signal from the industry that CPC and ValueClick are here to stay.”
The company said network members grew in the third quarter from 6,000 to 8,000 and that clickthroughs grew from 138,431,641 to 278,437,838.
Businesses near ‘PokeStops’ are enjoying a huge surge in footfall due to the popularity of Pokémon Go, according to our first major ... read more
A new organization, The Coalition for Better Ads, has been launched to “leverage consumer insights and cross-industry expertise to develop and implement ... read more


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Healthy snacking company That’s it. is seeing steep increases in consumer demand and retail distribution of its probiotic products, reporting over 200% growth of its Probiotic Fruit Bars within the last year. New distribution of its all-new Mini Probiotic Fruit Bar Variety Pack at Sam’s Clubs nationwide has contributed significantly to these increases, as That’s it. probiotic products are now available to millions of Sam’s Club shoppers across the country for the first time.
Recent surveys from real-time consumer insights platform Suzy indicate that these increases can also be attributed to changes in behavior as consumers begin transitioning to a “post-COVID-19” mindset. For example: 75% of Americans are ready to resume pre-pandemic activity levels – but most aren’t likely to shed the healthier habits they picked up during the pandemic. Most Americans – 79% – reported that that they cultivated healthier habits since the onset of COVID-19, with the top healthy habits including: Eating healthier (46%), exercising more (43%), taking probiotics (20%), and drinking less alcohol (19%). And while most are ready to shake off the stagnation of the last two years, we’re not planning to leave it all behind: 96% of people intend to stick with their healthy new habit(s) once the pandemic is over.
“The steep rise in demand for our Probiotic Fruit Bars is indicative of the moment that we’re in,” said That’s it. founder and CEO Dr. Lior Lewensztain. “We’re ready to be on-the-go again and need easy, convenient snacks to support that lifestyle. And yet, after two years of being hyperaware of our health, the focus on wellness concepts like immunity and gut health are here to stay.”
Since the onset of the pandemic, the food and beverage industry has been forced to adapt to a sharp increase in demand for products that support immune health. Probiotics, with their link to numerous health benefits like boosting immunity, supporting gut health, and improving digestion, continue to be a prime candidate to feel the uptick within this space.


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Man, woman plead guilty to counterfeiting charges
LAS CRUCES – Two Las Cruces residents pleaded guilty to Monday to conspiring to create and pass counterfeit U.S. currency, according to the U.S. Attorney’s Office in New Mexico.
Andrew Barnett and Summer Provencio, both 36, appeared in federal court in Las Cruces to enter the guilty pleas.
Barnett, Provencio and co-defendants Victoria Perez, 41, and Patrick Fernandez, 33, both of Las Cruces, were charged in a 183-count indictment filed on Feb. 15.
During Monday’s proceedings, Barnett and Provencio pleaded guilty to conspiring to create fraudulent U.S. currency.
Barnett admitted that from April 2016 through September 2016, he conspired with his co-defendants to manufacture and use counterfeit U.S. currency.
According to his plea agreement, on April 18, 2016, Barnett created eight counterfeit $5 bills by scanning a real $5 bill and printing copies on a home printer. Barnett gave the counterfeit bills to Provencio, who used the bills to pay for hair and nail products at a Las Cruces beauty supply store.
On May 8, 2016, Barnett created about 125 counterfeit $20 bills by printing copies on a home printer; this counterfeit currency was used to make purchases at a Las Cruces auto salvage business.
Provencio on Monday admitted that on April 18, 2016, she used eight counterfeit $5 bills created by Barnett to make a purchase at a beauty supply store.
Barnett and Provencio each face a maximum penalty of five years in federal prison. Sentencing hearings have yet to be scheduled.
Perez and Fernandez have entered not guilty pleas to the charges in the indictment.


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Bloomberg UTV to 'pitch' for big ideas with Rs 5 cr prize
Business news channel Bloomberg UTV is launching a reality show that aims to identify, evaluate and encourage entrepreneurs with sharp and innovative ideas.
The programme is an initiative to locate and identify people with strong entrepreneurial skills and provide them a platform to present their ideas and help them execute them, UTV Group Chief Executive Officer Ronnie Screwvala told reporters here.
The winner of the show will bag a prize money of Rs 5 crore, the highest amount on any Indian television programme, so far, he said. "Its our bid to encourage entrepreneurship in the country that has thousands of people with brightest ideas but don't get a proper channel or scope to execute them. We aim to provide a platform for such budding entrepreneurs," Bloomberg UTV Business Head Deepak Lamba said.
To start with, three successful entrepreneurs --Vishal Gondal of Indiagames, Alok Kejriwal of Games2win and Satya Narayanan of Career Launcher, will shortlist 30 business plans from the entries received all across the country.


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Thai consumer confidence index slips in Jan as economy worries rise
[BANGKOK] Consumer confidence in Thailand fell in January from an 18-month high, a university survey showed on Thursday, as worries about the global and domestic economy offset benefits from lower gasoline prices.
The consumer confidence index of the University of the Thai Chamber of Commerce slipped to 80.4 last month from 81.1 in December.
Reduced retail gasoline prices lowered living costs, which encouraged consumer purchases, but lower prices for commodities that Thailand produces, rubber and rice, hurt demand. "The bustling new year period is gone and purchasing power from the provinces disappeared as falling prices of commodities have started to sap consumption," Thanavath Phonvichai, an economics professor at the university, told reporters.
He said the economy "has recovered slowly and people are not confident that it will really make a comeback", as rice and rubber prices are likely to stay low. "How fast consumption will improve depends on government disbursement to boost the economy at a time exports and tourism have yet to fully recover," Thanavath added.
Following a coup in May, the military government has struggled to revive growth. With exports and domestic demand weak, Southeast Asia's second-largest economy grew only 0.2 per cent in the first nine months of 2014 from 2013.
The Bank of Thailand (BOT) predicts 2014 growth of 0.8 per cent and the International Monetary Fund sees 0.5 per cent. Official data is due on Feb. 16.
Consumption, which accounts for half of the economy, has been crimped by high household debt, one reason the BOT has held its policy interest rate at 2 per cent since March.
With consumer prices falling and economic growth weak, some analysts expect the BOT to cut the rate at its March 11 meeting.
But the BOT said on Tuesday it had no plans to adjust monetary policy despite the first annual decline in consumer prices in more than five years in January.
The headline consumer price index fell 0.41 per cent.
The university's confidence index began declining months before Thailand entered a period of political turmoil in late 2013. Through April 2014, it fell 13 consecutive months. "I'm not so confident about our economy. It's not doing so well." said Sumate Boonsook, a 44-year-old motorcycle taxi driver.
Food vendor Sophonvit Boontham said: "Things have been quiet since the coup. Tourists are cautious about visiting Thailand."


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This loyal customer is no chicken when it comes to Chick-fil-A.
A Pennsylvania man has made local headlines for smashing the known, unofficial record for eating from the chicken-centric chain for the most consecutive days in a row, carrying the torch to an impressive 132-day streak.
People have embraced all sorts of routines during the coronavirus pandemic, and Matt Stoudt has ordered from his local Chick-fil-A every day since July 13, WFMZ reports. Sunday’s, however, are excluded from the feat, as the chain is famously closed that day each week.
Matt Stoudt of Nazareth, Penn. has made local headlines for smashing the known, unofficial record for eating from the chicken-centric chain for the most consecutive days in a row.
“I’m a creature of habit,” the Nazareth man said, explaining that he was inspired to begin the quest after reading that a California man broke the informal record after hitting Chick-fil-A for 114 days in a row in 2019. Intriguingly, that loyal customer – Mark Mendenhall from San Diego – told Fox News he wanted to beat the record after learning that a Georgia man ate at Chick-fil-A for 100 days running.
Though Stoudt said his wife thought the goal was “ridiculous,” he was nevertheless determined to go where no fan had gone before and began ordering from a nearby Chick-fil-A each day to achieve the goal. As for his favorite fare, he’d often order a No. 1 special with an extra biscuit and water bottle for breakfast and a classic chicken sandwich for dinner.
Stoudt became fast friends with staff members like Ashley Marshall, who claims she can now identify him by voice alone over the drive-thru intercom.
“When I heard about it, I’m like ‘that’s crazy,’ but it made me feel good that he picked us to do that challenge with,” Marshall said of his mission.
As for favorite fare, the loyal customer would often order a No. 1 special with an extra biscuit and water bottle for breakfast and a classic chicken sandwich for dinner.
Stoudt’s quest has, however, taken some careful planning, like driving out of the way to find a restaurant during a family trip to Atlantic City, or waiting 25 minutes in line to order one night to keep the streak alive.
Regarding whether he’s gotten weary on the way to breaking the record, Stoudt admitted that he’s had his moments.
“Around day 100, day 100 was tough,” he told WFMZ.
Finally, on Monday, Dec. 14, he ordered his 132nd consecutive meal, calling it the personal record he’s proud to make his mark at. But that’s not all – the committed customer intends to continue ordering from the chicken-centric chain through the end of the year.
In a word of wisdom to other Chick-fil-A connoisseurs, the Pennsylvania man warned other record-breaking hopefuls to keep their distance from his dream – for now.
“No, no. Don’t do it. If you do it, I’ll have to do it again,” he joked.
A spokesperson for the restaurant was not immediately available to offer further comment on the news, nor confirm if they keep official records on consecutive-dining streaks.
Source by feeds.foxnews.com


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Nat Bellocchi served as chairman of the American Institute in Taiwan from 1990 through 1995. The views expressed in this article are his own.
Thu, Jan 17, 2013 - Page 8 News List
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Vivo V5 Plus to be revealed this month with dual selfie cameras
When the selfie king phone (check out our review here), Vivo V5 was launched during November last year in Malaysia, words have it that the vivo V5 Plus version would be released in the following month but it didn't happen. However, now we can confirm that the plus variant will make an appearance this month, starting with India on 23 January 2017.
Looking at that teaser poster, the V5 Plus is actually bringing the dual camera at the front instead of the back. While it does seem to be a bit overkill, we will have to wait and see what Vivo has to say about this, we think one of the lens should serve as a wefie mode and it makes sense, but this is just speculation as there are no official tech-specs yet.
The V5 Plus is not the first to come up with a dual selfie camera, for it was the Lenovo who did it first with the Vibe S1 back in November 2015. Stay tuned for more Vivo news at Technave.com.


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One year after the launch of UNEP’s Climate Neutral Network (CNNet) and with less than 300 days to go before the crucial Copenhagen COP 15 conference, over 80 delegates attending the UNEP Governing Council assembled to take stock of the experiences in moving towards low-carbon economies and societies. Panelists debated what is necessary to make a strong political, business and consumer case for a low-carbon future.
UNEP’s Satinder Bindra led the roundtable which included H.E. Erik Solheim, Minister of Environment and International Development, Norway; H.E. Roberto Dobles Mora, Minister of Environment and Energy, Costa Rica; H.E. Rashid Ahmad Bin-Fahad, Minister of Environment and Water, United Arab Emirates; Torill Rolstad Larsen, Mayor, Arendal Municipality; Stephen Emmott, Head of Computational Sciences, Microsoft Research; and Mathis Wackernagel, Executive Director, Global Footprint Network.
Some of the discussion's thought-provoking questions included:
How do you strengthen developing country participation in climate neutrality and make the case for low-carbon economies?
How do you define climate-neutrality from the scientific perspective?
What is the role of corporations in promoting low-carbon economies, providing more climate-neutral products, and changing consumer consumption habits?
What is the role of local and national governments for setting appropriate regulatory frameworks to incentivize a low-carbon development model?
At the close of the roundtable discussion, the City of Copenhagen was announced as the Network’s 100th participant. All first 100 participants - CN Net Centurions - present at the debate received a recycled glass trophy made by a Kenyan CN Net participant Kitengela Glass Research & Training Trust to commemorate their membership. For the CN Net Centurions not present at the debate, UNEP will send trophies using DHL’s "climate neutral" parcel service.


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Hinduja Automotive buys 2.6 crore shares of Ashok Leyland
Ashok Leyland promoter Hinduja Automotive today bought 2.6 crore shares of the commercial vehicle major for about Rs 43 crore.
Hinduja Automotive Ltd bought 2.6 crore Ashok Leyland shares from Lotus Global Investments Ltd through the open market, according to information available with the stock exchanges.
The shares were bought at an average price of Rs 16.55 each, valuing the transaction at Rs 43.03 crore, the data showed.
Ashok Leyland shares surged 2.73 per cent to close at Rs 16.95 on the BSE.
Yesterday, Hinduja Automotive bought 2.6 crore shares of Ashok Leyland from Lotus Global Investments for about Rs 41 crore.
As of the quarter ended June, Hinduja Automotive held 102.72 crore Ashok Leyland shares, amounting to a 38.61 per cent stake in the company.
Ashok Leyland launched a multi-purpose vehicle 'Stile' this week, at prices ranging from Rs 7.49 lakh to Rs 9.29 lakh (ex-showroom Delhi), seeking to strengthen its light commercial vehicle business in the country.


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MORE than 700 international delegates will pack the BT Convention Centre this year after Liverpool was awarded the biennial PPI Transport Symposium.
It is the leading event for the worldwide transport, handling and distribution of forestry products and the October 6-9 programme will be the first time it has been held in England since London in 1980.
Delegate spending at the event is expected to boost the local economy by more than £530,000.
Each symposium alternates between port cities in the US and Europe and the last two were held in Mobile, Alabama and Antwerp. George Hudson, business development manager with Mersey Ports owner Peel Ports, is helping organise the event and said in the current economic climate he expects to attract up to 750 attendees.
Keynote speaker will be former Eurostar chief executive Hamish Taylor (pictured) and the conference will look at the challenges and opportunities for the forest products logistics industry as it prepares to emerge from the recession.
Mr Hudson said: “It is a most prestigious conference represented by senior people from the whole forest products industry.
“That would include chief executives, presidents, vice-presidents, commercial directors and operations directors from around 30 countries.
“The companies represented would include paper and pulp producers, shipping lines, rail companies, ports and terminal, trucking companies, freight forwarders, IT specialists, stevedoring companies, warehousing and equipment manufacturers.”
This is the 18th symposium and organisers have included a tour of the Port of Liverpool in the programme.


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Rwanda EnvironmentManagement Authority, (REMA) has shut down SteelRwa, a steel making factory for air pollution.
Coletha Ruhamya, REMA Director-General told Sunday Times that the Rwamagana-based plant was emitting harmful gases.
Ruhamya said the environmental protection body had warned the factory over pollution, but it did not heed the warning.
“People dwelling in the locality of the factory have been complaining about the harmful gasses until they petitioned parliament,” Ruhamya said.
“Emissions are harmful. People who dwell near the factory are exposed because they inhale them all the time,” she said.
Some of iron bars produced by SteelRwa at the factory in Rwamagana District in 2016. The factory was shut down over emitting gases such as carbon dioxide (courtesy)
She pointed out that when REMA made a spot check on Wednesday night, it found that the factory was emitting pollutants.
“We realised that when we inform [the factory managers] about our assessment visit they conceal the gases so we decided to visit them without notice,” she said.
“We endorse investments, but, we do not support investments that intoxicate Rwandans, or other people in general, leaving them suffering from diseases from toxic emissions,” Ruhamya said.
She said that the body tells investors to always make environmental impact assessment so that they take precautionary measures to mitigate such impact.
Ruhamya further added that the factory could be using some systems to control emissions during day but did not use at night as they want to cut electricity consumption costs, something she described as cheating.
Some of the people complained that they considered relocating their children to places free from the gases, adding that children, the elderly, and people with health problems are more affected by the gases than others because of their relatively low resistance level.
On the complaints from the residents that their children are coughing, Ruhamya said that there is a need for medical research to come up with evidence-based conclusion.
Confident Nzihonga, the Human Resource Manager at SteelRwa, said the emissions were unintentionally released in the night arguing that it resulted from a power cut.
“There was power cut for about 10 minutes, which made the chimney system unable to retain emissions because it was not powered. Emissions are bad, that’s why the factory set up the chimney to hold them,” he said.
“The closure of the factory implies a huge loss both for the factory and the 580 employees. However, we are not above law,’ he said adding that the factory management was waiting for instructions and requirements to meet so that it can carry on activities.
According to figures from the factory, it has the capacity to produce about 3,000 tonnes of iron bars per month.
Ruhamya pointed out that factories should comply with the laws and instructions put in place to regulate emissions, pointing out that there should be continued awareness and environmental impact assessment, as well as its implementation.