New Delhi: Logistics firm DHL announced on Wednesday a five-year agreement with Airbus SAS to implement a transportation system that will streamline flow of materials to the French aircraft maker’s factories.
The company, as part of the materials management solution, will set up a control tower that will manage a significant part of inbound transportation including air and ocean freight, road freight, customs and value added services.
DHL has a large presence in India and says it serves 50,000 customers in the country.
Paul Davies to head ABN Amro India
Mumbai: Royal Bank of Scotland (RBS) on Wednesday appointed Paul Davies as head of ABN Amro Bank (India) NV’s private banking business, replacing Sutapa Banerjee, who has resigned.
Davies, global head of business development and strategy at RBS Coutts, will oversee the integration program of ABN Amro’s private banking business in India, which was recently acquired by the RBS Group. Following the transition phase, ABN Amro’s private banking business in India will operate under the RBS Coutts brand, the international private banking arm of the group. Anita Bhoir
Coffee export profit in first quarter rises 34%
Kochi: India’s earnings from coffee exports rose 33.5% to Rs686 crore in the first quarter of fiscal 2009, as increasing demand spiked prices and the dollar gained strength against the rupee.
Coffee prices increased to Rs109 per kg in the April-June quarter from Rs86 per kg in the same period a year earlier.
The quantity of coffee exports from India, the sixth-largest producer in the world, increased a mere 4.8% to 62,684 tonnes in the first quarter, from 59,796 tonnes a year ago. The coffee board estimates coffee production this fiscal year to increase to about 293,000 tonnes from 260,000 tonnes last year. AJAYAN
Teachers get to learn entrepreneurship
New Delhi: Radha Iyer, teacher at the K.J. Somaiya Institute of Management Studies and Research In Mumbai, is among the four teachers countrywide who have earned honours in a programme to teach entrepreneurship. The programme, open only for teachers, is being taught jointly by the faculty of the Indian Institute of Management, Bangalore (IIM-B), and Stanford University. It is sponsored by the National Entrepreneurship Network, a not-for-profit initiative whose advisory board includes Biocon Ltd’s managing director Kiran Mazumdar-Shaw.
The initiative is part of the work of the Wadhwani Foundation, started by Romesh Wadhwani, an alumnus of the Indian Institute of Technology, Bombay.Aparna Kalra
Oil price rise: S&P blames high consumption in Asia
Global credit assessor Standard and Poor’s (S&P) has blamed the high energy consumption in Asia, led by China and India, for the surge in oil prices. S&P says oil prices will decline in the short run, but the trend is irreversible longer term because Asia’s economic growth will keep demand for oil high.
“The oil output is rising only slowly, in part because so much of the world’s oil supplies are now in the hands of national oil companies, which have less incentive to raise production,” says David Wyss, S&P’s chief economist, in a research note released on Wednesday.
Oil prices have touched a record high of $143 (Rs6,192) a barrel. Oil futures are rising because of speculation, says Wyss, but adds it is not likely to have an impact on spot prices.
“Every major region saw higher consumption, with Asia up the most and Europe the least,” the economist says. “With China accounting for more than half the total world increase, it is hard to see much slowdown.”
Despite the jump in oil prices, demand for energy continues to rise. “Total world energy consumption was up 2.4% in 2007, a slight slowdown from 2.7% in 2006 but still an above average increase,” he says.
Energy demand from non-Japan Asia is rising much faster than in developed countries. Although US oil use rose at a 1.8% annual rate from 2000 to 2005, Western Europe demand was up only 0.4%. In Asia-Pacific, the energy demand jumped 3%.
S&P expects this pattern of growth rates to continue over the next 25 years. “During the current decade, projections are for Chinese demand to rise 9.9%, nearly double the Asia-Pacific average. By 2030, we expect that Asia will use more energy than North America and Europe combined,” the report says.
Many Asian countries, notably China and India, subsidize energy consumption by controlling electricity and gasoline prices, S&P notes. Although this practice has shielded these economies from the most negative aspect of energy price increases, it leaves their trade positions exposed and certainly makes overall energy efficiency lower.
According to S&P, the future of oil prices remains uncertain though “it seems probable that oil prices will be significantly higher in 25 years than they are today.”Ankur Relia
ESPN-Star wins Fifa cup broadcast rights
New Delhi: Sports broadcaster ESPN-Star Sports said on Wednesday that it has signed a contract with Fédération Internationale de Football Association, or Fifa, the premier international governing body of the game, for the exclusive television rights in the Indian subcontinent for Fifa events in 2009 and 2010, including of the 2010 Fifa World Cup and Fifa Confederations Cup 2009.
The financial part of the deal was not disclosed and officials of ESPN in India declined to comment. The countries where ESPN Star Sports can broadcast the matches include India, Pakistan, Bangladesh Sri Lanka, Maldives, Nepal and Bhutan. ESPN Star Sports is an equal stakes joint venture between ESPN Inc., a majority-owned subsidiary of Walt Disney Co., and News Corp. Ltd. News Corp. publishes ‘The Wall Street Journal’ (WSJ). ‘Mint’ has an exclusive content partnership in India with WSJ. Staff Writer
Glenmark enters Poland, acquires Actavis brands
Mumbai:City-based drug maker Glenmark Pharmaceuticals Ltd said on Wednesday that its Czech subsidiary Medicamenta SAS, has acquired seven drug brands mainly for the treatment of central nervous system disorders from Icelandic drug maker Actavis Group for about $30 million (around Rs130 crore).
The brand acquisitions, which are specifically for the drug maker’s Poland market portfolio, will give a ready revenue of $15 million to the company from that market. It will also provide Glenmark its first access to the Polish market, the largest pharmaceutical market in central and East Europe. C.H. Unnikrishnan
Piramal Health finalizes Haemaccel acquisition
New Delhi: Health care firm Piramal Healthcare Ltd (formerly Nicholas Piramal India Ltd) on Wednesday said that it has completed its €7.7 million (Rs52.7 crore) acquisition of a range of blood-based therapeutic products from PlasmaSelect AG of Germany. These polygeline-based blood plasma products of PlasmaSelect are currently marketed under the brand name Haemaccel in more than 38 countries.
In addition, PlasmaSelect also markets the product under the brand name Emagel in Italy and Solucel in Venezuela. Blood plasma products are used in emergency care such as post and pre-surgery applications to stabilize the patient condition. This acquisition is intended to bring global leadership to Piramal Healthcare’s polygeline-based blood plasma expansion products.
Piramal Healthcare currently markets the products under the brand name Haemaccel in India and under the brand name Haemageline in 17 other countries. C.H. Unnikrishnan
Municipal boards defeat for Left Front
Kolkata:The Left Front suffered more poll setbacks in West Bengal as opposition parties wrested control of eight out of 13 municipal boards, results for which were announced on Wednesday. The Trinamool Congress and the Congress bagged four municipalities apiece, gaining two each, while the Communist Party of India (Marxist), or CPM-led Left Front won in five municipality elections, polling for which took place on 29 June.
The most stunning was the CPM’s loss in Ghuskara in Burdwan district, which is a traditional red bastion.
In two municipalities, the Congress needs the Trinamool Congress’ help to form the board, while Mamata Banerjee-led Trinamool needs the help of the Congress to form the board of one municipality. Romita Datta
No security threat from BlackBerry, says govt
New Delhi: The Indian government has said that there is no security threat to BlackBerry services in the country and talks with Canadian company Research in Motion or RIM, that runs the mobile email service, is still on. “There is no threat from BlackBerry services,” telecom secretary Siddarth Behura told reporters here at an industry event on Wednesday. He added the ministry for home affairs did not have anything to do with the service, as it was a technical issue. Asked whether the services would be banned in the country, he said: “Not to my knowledge.” PTI /Staff Writer
‘India mobile telephony market to top $37 bn’
New Delhi: India’s mobile phone market will exceed 737 million connections and cross $37 billion in revenue by 2012, paced by wireless service expansion in the countryside and the declining cost of calls, research firm Gartner Inc. said on Wednesday. The annual revenue and user growth will be 18% and 21%, respectively. This will raise penetration to some 60.7% from 20% now and help India remain the world’s largest wireless market after China. “Rural telephony will continue to trigger growth and is expected to grow fourfold during the forecast period,” said Gartner analyst Madhusudan Gupta. R. Jai Krishna