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ASIAN (B)

Centre, ADB sign $31mn loan to boost tourism in TN

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Asian Development Bank Logo

New Delhi, (India), Dec 11, (ANI): New Delhi, Dec 11 (ANI) A project to boost tourism in Tamil Nadu will be funded by the Asian Development Bank (ADB) to the tune of $31 million (about Rs 222.84 crore).
An agreement in this regard was signed here on Tuesday between the government of India and ADB.
After the signing of the loan, Additional Secretary of the Department of Economic Affairs, Sameer Kumar Khare, said that the project is expected to improve tourism infrastructure in Tamil Nadu and help the state in preserving its natural and cultural heritage. The activities under the project would also boost economic opportunities for the local people, he added.
The loan was signed for Infrastructure Development Investment Program for Tourism (IDIPT), which aims to build opportunities for local communities and boost the local economy by enhancing tourism in three other states – Punjab, Himachal Pradesh, and Uttarakhand- besides Tamil Nadu.
“This will be achieved through developing and preserving sites of natural and cultural heritage, and building connectivity, capacity, and infrastructure around State tourist sites. The project will support the conservation and restoration of eight heritage monuments, one museum, three temples, and a pond. It will build various facilities at the sites, including information centers, rest centers, and toilet blocks, with facilities served by solar-powered lighting and energy-efficient lighting,” a statement issued by the Ministry of Finance read.
The total cost of the project is USD 44.04 million, of which the government will provide USD 13.04 million. The estimated completion date is June 2020.(ANI)



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Closing Bell: Sensex ends 190 pts higher, Nifty around 10,550

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Sensex

New Delhi [India], Dec 11 (ANI): After witnessing volatility through the day, the Sensex on Tuesday closed after trading up 190.29 points at 35150.01, while the Nifty soared 60.70 points at 10549.20.
After witnessing a sharp fall of 482.68 points in the opening trade, the Sensex gained positivity and advanced in total of 1623 shares, against a decline of 771 shares, while 139 shares were unchanged.
Amongst sectors, pharmaceuticals, PSU banks, consumption, IT and automobiles, among others, were big gainers.
On the other hand, shares such as Yes Bank and Sun Pharma were the top gainers, while HDFC Bank, Bharti Airtel, HPCL and IOC lost on charts.
The plunge in the market comes on a day when the ruling BJP’s performance in the Assembly elections painted a dismal picture for the party.
Election trends during the market closing signaled chances of government formation for Congress in the three major states that went to polls- Madhya Pradesh, Rajasthan and Chhattisgarh.
Earlier on Monday, RBI Governor Urjit Patel stepped down just ahead of the scheduled meeting of the RBI board on December 14th to consider proposals like RBI governance and providing liquidity for Non Banking Financial Companies (NBFC’s).
The central bank chief announced step owing to some personal reasons.
“I have decided to step down from my current position, effective immediately,” he said in a statement.
“It has been my privilege and honor to serve in the Reserve Bank of India in various capacities over the years,” he added. (ANI)



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EU Ambassador opens India's first CoE at MAHE

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Manipal Academy of Higher Education

New Delhi [India], Dec 11 (ANI-BusinessWireIndia): India’s first Jean Monnet Centre of Excellence established by the European Union was inaugurated at the Department of European Studies (DES) at Manipal Academy of Higher Education here on Saturday by Ambassador of the European Union (EU) to India and Bhutan, Tomasz Kozlowski.
“It is an emotional moment as I inaugurate the Jean Monnet Centre of Excellence. It is something special, a very prestigious award, but at the same time a confirmation of what the Department of European Studies has achieved so far. This Centre is a commitment and I am convinced Manipal will continue to make progress. Manipal and this department is an excellent example in developing contacts, partnerships and relationships with different European Studies.”
Kozlowski congratulated the leadership, faculty and students of MAHE on this achievement and stated that Manipal has always been a pioneer in promoting higher education and research in international relations in India in general and European studies in particular.
The award comes with a grant of €1,00,000 to pursue India-EU interdisciplinary studies in culture, literature, education and society. This is the fifth time that MAHE has been awarded grants under the Erasmus+ Jean Monnet initiative. Previous grants have been used for chair, modules and project.
“Our continued success in being awarded competitive CBHE grants is testimony to MAHE’s research focus and capability. The Ambassador’s presence in Manipal reaffirms our belief that we are the forefront of providing an international outlook to our students,” said MAHE Pro-Chancellor Dr H S Ballal.
Under the present award, the Jean Monnet Centre of Excellence in India-EU Interdisciplinary Studies aims to strengthen and enhance the educational connect between India and EU.
The CoE will host open-to-public workshops on European literature, winter schools for students around the world, and an India-EU Higher Education Meet.
Students at MAHE will also benefit from open electives covering topics such as ‘Watching Europe – Understanding European Culture and Society through Cinema’ and ‘Ethics and Epics – Understanding Philosophies of Life in India and Europe’. At the end of the project, the CoE also plans to release a book on ‘Understanding India-EU Intercultural Dynamics’.
Dr Neeta Inamdar, Head Department of European Studies made a presentation of the department and spoke of its growth from four persons in 2009 at the start to 40 now. Dr Neeta Inamdar expressed happiness over the selection of the department for the Centre of Excellence. She said, “Within a decade of starting the Department in 2009, this feat is achieved.” (ANI-BusinessWireIndia)



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Uniphore Software Systems wins top honors at Express IT Awards 2018

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New Delhi [India], Dec 11 (ANI-BusinessWireIndia): Uniphore Software Systems has been awarded the best product company in the Analytics Solutions category for 2018 at the 6th edition of Express IT awards for its conversational AI-powered analytic solution, auMina.
The award was presented by Shri Ravi Shankar Prasad, honorable minister for Law and Justice and Electronics and Information Technology of India, in Mumbai. The award is instituted by Financial Express, a leading business daily in India.
Uniphore’s award-winning conversation analytics solution, auMina for enterprises is powered by Artificial Intelligence and Machine Learning capabilities. The solution is built to help organizations identify and break down complex business problems by way of offering executive insights into customer interactions. The insights offered by auMina aims to bridge the analytics gap by extending tools for analysts to address business outcomes.
While commenting on this recognition, Umesh Sachdev CEO, Uniphore Software Systems said that, “We are honored to be bestowed with this award by Financial Express. Winning Express IT Awards comes as a worthy end to an amazing year we have had at Uniphore. Our team is gearing up for scaling global heights and Express IT Awards is a valuable validation to our Conversational AI solutions”.
The total available market for Conversational AI and analytics is estimated to be around 20 billion US Dollars. Conversational analytics, which is AI solving an unsolved problem, is a USD 5-6 billion opportunity globally. The conversational assistant, which is the automation opportunity, is much larger, at $30 billion. (ANI-BusinessWireIndia)



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Ecogreen Energy appoints Vishal Gupta as new chief executive officer

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Vishal Gupta

New Delhi [India], Dec 11 (NewsVoir): Ecogreen Energy, a subsidiary of Singapore listed CJE group, the global leaders in waste management and waste-to-energy sector, has appointed Vishal Gupta as the Chief Executive Officer.
The decision of the management change came during the board meeting held recently. He will be incharge of the day-to-day leadership of the Company and will also join Ecogreen’s Board of Directors.
Vishal Gupta has over a decade of experience in managing large organizations in Energy and Environment sector across Asia. He has worked with many organizations across Asia in key positions. He has created and managed many successful ventures in various sectors in India, UAE and North America.
He has been instrumental in bringing and managing large scale investments in UAE and has been advising various international governmental bodies on environment related projects. He holds a degree in Mechanical Engineering.
“I am very pleased to join Ecogreen Energy and look forward to driving the development and execution of our strategy going forward. Our company is one of the largest waste management companies in Asia and our main focus will be to implement group vision and to bring our global experience, systems and know how to professionally manage the Waste issue in India. We have an exceptionally talented team at Ecogreen Energy that is focused on taking decisive actions to transform the current scenario and unlocking future growth opportunities. Waste is a big problem in the country and the company is committed to providing green and sustainable solutions for managing it,” said Vishal Gupta.
“I’ve had the opportunity to watch Vishal grow as a leader over the last years and am convinced there is no better leader for Ecogreen Energy in India today. Vishal stands apart as a leader with an extraordinary ability to connect vision, people and ideas to drive strategy and execution. He is a seasoned leader with significant experience working with the waste management, operating efficiently at scale, and delivering value to shareholders,” said Charles Zhang, Global CEO & India MD.
Ecogreen currently, has three large Integrated Solid Waste Management Projects in India, covering entire cities of Gurugram, Faridabad, Lucknow and Gwalior. Ecogreen provides door to door waste collection service for over 2 million households, its transportation to the landfill sites for further management. Recently there were a lot of complaints related to day to day operations of the company, especially waste collection. (NewsVoir)



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RBL Bank's Umeed 1000 Cyclothon culminates in Bengaluru

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RBL Bank

New Delhi [India], Dec 11 (ANI-BusinessWireIndia): Umeed 1000 Cycothon, a CSR initiative by RBL Bank, which was flagged off in Mumbai on 30th November, 2018, has culminated at Manipal Global Academy of BFSI campus in Thanisandra today.
The closing ceremony was attended by DGP of Karnataka Police – Smt. Neelamani Raju along with India Cricketer Gautam Gambhir in the presence of Rajeev Ahuja, Executive Director – RBL Bank and Ravi Panchanadan, MD & CEO – Manipal Global Education Services.
Jasmeet S. Gandhi, a cycling enthusiast passionate towards contributing for girl child education, along with RBL Bank employees, led the Cyclothon to garner funds for Udbhav School in Hyderabad. Cyclothon, which was flagged off in Mumbai rallied across varied cities of Pune, Satara, Kolhapur, Belagavi, Hubballi, Ranibennuru, Tumkur and Bengaluru. 50 participants from Karnataka Special Reserve Police also joined from Belagavi to extend their support.
Speaking on the occasion, Neelamani Raju, DGP of Karnataka Police said, “We are proud to be associated with such a noble cause. I congratulate RBL Bank and Manipal Global Education for taking up this cause and making a difference in the lives of the underprivileged young girls. I wish them all the very best and I am sure this will bring the much-needed change in our society.”
Addressing the gathering, Gautam Gambhir said, “This is indeed an initiative which will bring in a huge wave of change. Children are the future of our nation and thus it is imperative to educate every child for a better India. RBL Bank employees have showcased phenomenal grit and determination by cycling 1000 kms to raise awareness and funds for girl child education. My good wishes to Umeed 1000.”
Umeed 1000 was launched by RBL Bank as a CSR initiative in 2014. This year RBL Bank is supporting the IIMAAA Hyderabad Chapter Charitable trust to build and support another underprivileged school in Fatehnagar that has been catering to the education needs of students coming from urban slums in the vicinity.
Rajeev Ahuja, Executive Director – RBL Bank said, “Promoting education has always been a significant CSR pillar of the Bank. Umeed 1000 which started as a vision in 2014 has now culminated into a movement aimed towards providing access to quality education to the girl child of our nation. As an organisation, we stand united to support this noble cause and spread awareness of the plight of girl children. The entire time at RBL Bank is extremely proud of the cyclists who have braved this 1000 kms journey from Mumbai to Bengaluru to sponsor the education of the students at Udbhav School.”
Shanta Vallury Gandhi, Head – HR, CSR and Internal Branding, RBL Bank said, “Manipal Global Academy has always partnered with RBL Bank to encourage and advocate education for the development of the nation. Umeed 1000 is another such step to lift the social and economic plight of girls from the weaker sections by providing them with a holistic education and opportunities for personal growth. We would like to thank and extend our appreciation to Manipal Global Academy of BFSI for hosting the closing ceremony of this event. We congratulate the cyclists from RBL Bank along with lead cyclist Jasmeet Gandhi who have tested their endurance and overcome challenges to raise funds for these students and help them lead their lives with freedom, dignity and equality.”
My. Ravi Panchanandan, MD & CEO of Manipal Global Education Services said, “We are priviledged to host the closing ceremony of Umeed 1000 which has brought new hope and a wave of change in the lives of underprivileged girls who are deprived of basic education. Manipal Global Education Services has been providing education by nurturing talent and providing the right platform for students to give them the ability to realise their career dreams. We constantly strive towards excellence in bringing nothing but the best on table for all our students. Though urban education has grown rapidly, underprivileged children are denied basic education. We must strive to provide education in order to make them productive members of society and I think this is the perfect way to do it. My heartiest congratulations to RBL Bank for putting up brilliant efforts.”
S. Viswanathan, President IIMA AA, Bangalore Chapter said, “Education of the girl child should be one of the highest priorities in our education system. The literacy levels as with several other social measures are heavily skewed in favour of males – 81 % against 65 % at the last count – and corrective measures are urgently needed to set right these injustices in our predominantly patriarchal society. I’m privileged to be associated with Udbhav who are doing their bit to restore this anomaly. I and the IIMA AA Bangalore Chapter will be glad to participate in events like Umeed and assist Udbhav in any other manner in their endeavors now and in the future. I wish them all the best in their plans for spreading this initiative to other cities and in increasing the number of beneficiaries to 10000 from the current level of 800 over the next few years.” (ANI-BusinessWireIndia)



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'Be a Jagrik – Samvidhan LIVE, live the SDGs'

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Community

New Delhi [India], Dec 11 (NewsVoir): ComMutiny – The Youth Collective has launched a unique public initiative for young people – Be a Jagrik – Samvidhan LIVE.Live the SDGs across 14 states with 32 partners. This initiative brings together two ‘frameworks’ – The Constitution of India and Sustainable development Goals (SDGs).
Through a board game and a refl-active journey, this leadership experience bridges the gap between textbooks and reality. It aims to enable youth and adolescents become aware and active citizens – Jagriks (Jagruk Nagriks), live and experience the sustainable development goals (SDGs) and the rights and duties enshrined in the Indian Constitution.
As Jagriks undertake exciting self and community action projects on-ground, they also take their powerful voice for change into the world.
Through spinning of a bottle and rolling of a dice on a board game, the Jagriks can choose experiential action projects to understand the Indian Constitution and SDGs. One of the key outcomes of the game is a collection of promises from young people.
These promises will also be presented to relevant duty bearers to increase their accountability and work towards nation building and fulfilling aspiration of young people.
In the words of Lokasish Saha, CEO, ComMutiny – “Though the Constitution of India binds us all with the values of liberty, justice, equality and fraternity, unfortunately, fraternity, or loving each other gets least attention also because it cannot be legislated. Today fraternity still remains the missing piece. Through Be A Jagrik – Samvidhan Live… Live the SDGs the effort is to bring back the focus equally on rights and duties, through foregrounding the value of fraternity and creating a powerful lived experience based on the constitutional framework. This is even more relevant today looking at the overall socio-political environment of the country.”
ComMutiny strongly believes in taking adolescents and youth across the country through a leadership journey while evolving their capacities on constitutional literacy, sustainable development, access to services and participation in the decision-making process.
For the youth, to understand the Constitution and the SDGs, it needs to be lived. This initiative makes the world their classroom. They need to learn their rights and duties from experience.
The campaign will equip 1550 young people to directly engage with civic action and better navigate through real-life challenges within the constitutional framework further reaching out to 50,000 people. The campaign shall also create an online footprint of 5 million impressions and will enable online learning and sharing space for young people to engage and converge with the four pillars of democracy. (NewsVoir)



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Economist Surjit Bhalla resigns from Economic Advisory Council to PM

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Surjit Bhalla (file photo)

New Delhi [India], Dec 11 (ANI): Economist Surjit Bhalla on Tuesday announced that he resigned as a part-time member of EAC-PM (Economic Advisory Council to the Prime Minister) earlier this month.
“I resigned as part-time member PMEAC on December 1st,” Bhalla informed on Twitter.
The role of the EAC- PM is to “analyse issues, economic or otherwise, referred to it by the Prime Minister and advising him thereon,” according to the information on its website.
It also addresses issues of macroeconomic importance and presents views thereon to the Prime Minister. “This could be either suo-motu or on reference from the Prime Minister or anyone else,” states its official website.
The economic body is headed by Dr. Bibek Debroy, who is also a member of the NITI Aayog.
The news of Bhalla’s resignation came a day after Urjit Patel stepped down as the governor of the RBI. (ANI)



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Sensex nosedives over 550 points, Nifty above 10,500

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New Delhi [India], Dec 10 (ANI): A day ahead of assembly poll results, the markets on Monday plunged over a per cent in the morning trade, with Nifty opening above 10,550.
The Sensex traded down 502.05 points at 35171.20, while the Nifty was down 156.60 points trading at 10537.10.
With a negative breadth, selling was visible across all sectors, with metals, infrastructure, automobiles, banks and pharmaceuticals being the top losers.
The Indian rupee slipped in the early trade, as it opened lower by 54 paise at 71.34 per dollar against previous close 70.80. (ANI)



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TEN BKC – The grand stage for Forbes India 30 Under 30, 2018 achievers

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TEN BKC

New Delhi [India], Dec 10 (ANI): Forbes India, in association with Ten BKC, hosted Forbes India 30 under 30 achievers for an evening full of conversations, glitz and glamour.
The occasion was graced by some of the most eminent personalities across industries such as Ranveer Brar, Indian chef, TV show host, judge and food stylist, Mithila Palkar, Actor; Ghazal singer Ranjeet Rajwada and several others from the field of sports, cinema, theatre, music along with young and dynamic entrepreneurs across sectors.
“The Forbes India 30 under 30 List is a celebration of dreamers and derring-doers, ventures and adventurers,” says Brian Carvalho, Editor, and Forbes India. “This bunch is driven to break new ground by either excelling in areas they’ve chosen to make their own, or looking for new competitive advantages with tech-driven business models.”
The discussions at the event will be interspersed by felicitations of the listees of the Forbes India 30 under 30
Talking about the initiative, Ashish Shah, COO, Radius Developers, said, “Forbes India 30 under 30 list has over the years comprised of the most brilliant minds that the country has seen. This year the onus of this grand event falls on an equally grand stage that’s going to celebrate the iconic 30 for their achievements. We are elated to associate with them and revel in their laurels, here at the Lobby of our flagship project TEN BKC, which essentially is a celebration of design, exclusivity and awe-inspiring luxury.”
TEN BKC is the culmination of exceptional skills matched with world-class elements, and a refined taste. The elaborate 35,000 sq. ft., double heighted lobby, evokes grandeur and style in its truest form. Designed by the world-renowned architect and design firm Aedas Hong Kong, it features an ultra-chic cutting-edge design, and is tasteful and classic, amidst modern renovations.
The architectural intricacies of the lobby are just one of the many excellent features that set TEN BKC apart from other projects in the vicinity, and provide a glimpse of the urban opulence that the project has to offer. TEN BKC is strategically located in Bandra East, with close proximity to BKC, one of the largest Central Business Districts in Mumbai, which encourages the ‘Walk to Work culture’. (ANI)



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