Category Archives: Business & Economy

INTERNATIONAL: BUSINESS & ECONOMY: ‘I2U2 Summit (India, Israel,US, and UAE) ‘: UAE to Invest $2 billion to Develop Integrated Food Parks Across India

The grouping is known as ‘I2U2’ with “I” standing for India and Israel and ‘U” for the US and the UAE.

The United Arab Emirates will invest $2 billion to develop a series of integrated food parks across India under the framework of the four-nation grouping ‘I2U2’.

The decision was announced after the leaders of the grouping — Prime Minister Narendra Modi, U.S. President Joe Biden, Israeli Prime Minister Yair Lapid and UAE President Mohammed bin Zayed Al Nahyan — held the first virtual summit.

A joint statement said the I2U2 leaders’ meeting focussed on food security crisis and clean energy and that they discussed innovative ways to ensure longer-term, more diversified food production and food delivery systems.

source/content: thehindu.com (headline edited)

INTERNATIONAL: IT & TELECOMMUNICATIONS: U.S’s AT&T Inaugurates a new India Development Centre in Chennai

Company building a dedicated digital operations centre.

The U.S.-based telecommunications giant AT&T has opened its new development centre in Chennai.

The new facility was inaugurated by Tamil Nadu Minister for Information Technology T. Mano Thangaraj with Bala Subramanian, Chief Digital Officer, AT&T.

The new centre at the RMZ Millenia Campus Phase 2 on MGR Salai has capacity to accommodate around 300 employees and will focus on building digital capabilities. “We recognise the talent and potential in Chennai and are excited about offering an environment where teams can work on features that have a direct impact on AT&T customers and employees,” Mr. Bala Subramanian said in a statement. 

“In addition, we are building a dedicated digital operations centre (DoC) that will act as a beachhead for our customer-centric operations transformation,” he added.

source/contents: thehindu.com (headline edited)

INTERNATIONAL: NATIONAL, AVIATION & AEROSPACE: Hindustan Aeronautics Limited (HAL) and Safran Helicopter Engines to Create JV to make Chopper Engines

Hindustan Aeronautics Limited (HAL) and Safran Helicopter Engines have signed an agreement to create a new joint venture to develop helicopter engines. Through an MoU signed by R Madhavan, Chairman & Managing Director, HAL, and Franck Saudo, Chief Executive Officer, Safran Helicopter Engines, in presence of Olivier Andries, CEO, Safran.

Both the partners will extend their partnership by establishing a new aero-engine company in India. It will be dedicated to the development, production, sales and support of helicopter engines and one of its main objectives will be to meet the requirements of HAL and Ministry of Defence’s future heli­copters, including the 13-ton­ne Indian Multi-Role Helicopter.

Madhavan said: “We now look forward to utilize this opportunity to leverage HAL’s experience in manufacturing of more than 15 types of aircraft and helicopter engines to co-develop and manufacture engine with immediate focus on IMRH and its naval variant the Deck Based Multi Role Helicopter. This partnership will involve and utilize the Indian Defence manufacturing ecosystem within India”.

Saudo said the partnership with HAL recently illustrated the development and production of the Shakti engine, “and the inauguration of our joint venture Helicopter Engines MRO Pvt Limited (HE-MRO). With a fleet of over 1,000 engines, India’s Armed Forces are one of the largest operators of Safran-designed helicopter engines.”

HAL and Safran Helicopter Engines already have multiple partnerships, including the Shakti engine, which powers HAL-produced helicopters, including the Dhruv, Rudra and the Light Combat Helicopter. The Ardiden 1U variant also powers the new Light Utility Helicopter. Through HE-MRO joint venture in Goa, HAL and Safran Helicopter Engines will also provide Maintenance, Repair and Overhaul services for TM333 and Shakti engines in se­rvice with Armed Forces, and will be operational by 2023-

source/content: newindianexpress.com (headline edited)

INTERNATIONAL: NATIONAL: AVIATION & AIRPORTS: PM Modi Inaugurates Deoghar Airport, Unveils ₹16,800-crore Projects in Jharkhand

He also flagged off the Deoghar-Kolkata IndiGo flight from the new airport.

Prime Minister Narendra Modi on Tuesday inaugurated the 657-acre Deoghar airport, constructed at a cost of ₹401 crore.

He also flagged off the Deoghar-Kolkata IndiGo flight from the new airport.

The airport has a 2,500-metre-long runway, which can handle the landing and takeoff of Airbus A320 planes.

Mr. Modi had laid the foundation stone of the Deoghar airport on May 25, 2018, as a key step towards providing direct connectivity to Baba Baidyanath Dham, which is an important religious destination for devotees from all over the country.

Civil Aviation Minister Jyotiraditya Scindia, on the occasion, said the airport will be linked to Ranchi, Patna and Delhi in the days to come.

source/content: thehindu.com (headline edited)

INTERNATIONAL: BUSINESS & ECONOMY / MEDIA : Santosh Shukla Appointed as CEO of ‘British Organization World Book of Records’

He will also carry out business activities of iudex International Quality Certification and focus on business expansion in Asian countries.New Delhi Senior advocate of the Supreme Court of India, Shri Santosh Shukla has become the new Chief Executive Officer CEO of the British Organization World Book of Records.

 At the helm of Shri Shukla, the organization has made its reached 25 countries in the world with a strong global network. Shri Shukla hails from deep-rooted Indian culture and heritage and is of Indian origin.

Being a Cyber law expert and an author of technical books, he is also Director-General of the South Asian Chamber of Commerce & Industry (SACCI), President and CEO of International Quality Certification, President of Alma World, and holds the post of Chief Editor of Alma Today, Alma Times, WBR News and other leading organizations.

source/content: devidiscourse.com (headline edited)

INTERNATIONAL : ARTS & CULTURE : Dr KC Samuel, Chairman of Hindustan Aviation Academy (HAA) Installed as the New International President of Y’s Men International (YMI), Aarhus, Denmark

Philanthropist and Hindustan Aviation Academy (HAA) chairman Dr KC Samuel has been appointed the International president of Y’s Men International (YMI).

The movement was founded in 1922 and Samuel will be taking charge for its centenary year.

“The name ‘Y’s Men’ has become synonymous due to selfless service and sacrificial giving, and has touched and lifted the lives of thousands people across the world for over a century by acknowledging it as our duty,” said Dr Samuel.

Dr Samuel has been with the Y’s Men movement for over 40 years. He has held almost all leadership positions in the movement and was bestowed with many awards for his meritorious performance, including Elmer Crowe Award and International President’s award for the best Area President in 2018-19. He is currently a member of Y’s Men Club of Bangalore.

source/content: newindianexpress.com (edited)

WORLD RECORD: SPORTS / GARMENTS: World’s Largest Cricket Jersey Made within 9 Days by Mumbai’s The Flag Company. Diplayed at the IPL Final in Ahmedabad and Recognised by Guinness Records.

The world’s largest cricket jersey (66 m x 42 m), which got Guinness record recognition in the IPL final in Ahmedabad on Sunday, was prepared within nine days by Mumbai’s Flag Company.

The idea was conceptualized by the IPL owners.

“Well, something like this needs all hands-on deck. There wasn’t any one person at the flag company who wasn’t involved and didn’t contribute to this project. A 55-member team worked on this massive opportunity”, Dalvir Singh Nagi, the company CEO, speaking exclusively, said.

The time frame given was 15 days but the company was able to finish the product within 9 days.

“Printing (logos of all ten teams) and piecing the parts together required a lot of trials and errors and massive effort. The semi-finished printed fabric was shipped to the location for assembling and the piece was stitched and brought together to shape and live at the venue. It was overwhelming and exciting all at once!”, Nagi added.

source/contents: deccanchronicle.com (headline edited0

INTERNATIONAL, IN INDIA: HEALTH & MEDICAL SERVICES / SCIENCE & TECHNOLOGY: GE Healthcare launches its first ‘5G Innovation Lab’ in India and First for GE across the Globe.

GE Healthcare on Thursday announced the launch of its 5G Innovation Lab in India, the first for the company across the globe.

With the advantage of massive bandwidth, high data speeds, low latency and highly reliable connectivity, 5G has the potential to disrupt the patient care continuum, transforming diagnosis, therapy, and prognosis, the company noted.

“The 5G Innovation Lab is designed to position GE Healthcare at the forefront of these groundbreaking advances in patient care, including potentially bringing cutting-edge technology to rural and suburban regions,” a company statement said.

Situated at the John F.Welch Technology Centre (JFWTC) Bengaluru, GE Healthcare’s largest R&D centre outside of the USA, the lab will serve as a testbed to develop future-ready products and solutions, turning a new corner in innovation, it said.

5G in Healthcare was valued at an estimated USD 215 million in 2021 and is projected to reach USD 3,667 million by 2026.

“India is an important market for us globally and it is indeed the right time to venture into 5G, which will open a realm of exciting opportunities, driving the next wave of growth in Healthcare,” said Jan Makela, President & CEO, Imaging at GE Healthcare.

The GE Healthcare 5G Innovation Lab will serve as a conduit for the interplay of exponential technologies like AI/ML, IoT, Big Data, Edge Computing and Cybersecurity, the statement added.

source/content: newindianexpress.com (headline edited)

GLOBAL RECORDS: INNOVATION & INFORMATION TECHNOLOGY, TELANGANA : The World’s Largest Innovation Campus ‘T-Hub’/ T-Works/ and IMAGE Tower’ Takes Shape in India’s Hyderabad City

There will be 2.3 million sq ft built-up space in the 18-acre campus : KTR

Technology start-up incubator T-Hub, prototyping centre T-Works and the IMAGE Tower focused on multimedia, animation, gaming and entertainment will constitute the world’s largest innovation campus in Hyderabad.

Totally, there will be 2.3 million sq ft built-up space that will be developed in the 18-acre campus in the heart of the city’s IT Hub. “I see this panning out over the next 18-24 months,” IT and Industries Minister K.T. Rama Rao said in an interaction after Chief Minister K Chandrasekhar Rao inaugrated the new, second phase building of T-Hub on Tuesday.

The T-Hub facility, with a built-up space of 5.8 lakh sq ft, is one component of the campus. “There is T-Works, India’s largest prototyping facility, which will be inaugurated in August,” he said.

source/content: thehindu.com (headline edited)

INDIA RECORDS: FOOD, MARINE & SEAFOOD: Andhra Pradesh at National No.1 with Record Seafood Exports Exceeding ₹20k crore, Highest in Country with the US Being the Leading Importer.

3.24 lakh metric tonnes was shipped to the US, China and EU in 2021, according to officals.

Andhra Pradesh stood top in the country in seafood exports by shipping 3.24 lakh metric tonnes of shrimp, fish and other items during the 2021-22 financial year. The total exports of seafood from India was about 13,69,264 metric tonnes.

The value of the seafood exports from the State was about ₹20,019 crore, said Marine Products Export Development Authority’s (MPEDA) Andhra Pradesh Joint Director A. Jeyabal.

The contribution of the State in the country’s overall exports was 23.66% in quantity and 34.76% in terms of value, the Joint Director said.

“In 2020-21, India had exported 11,49,510 metric tonnes of seafood worth ₹43,720 crore ($5,956 million). In 2021-22, marine products of about 13,69,264 metric tonnes, valued at ₹57,586 crore ($7.76 billion) were shipped,” Mr. Jeyabal told The Hindu on Wednesday.

According to overseas shipment data, the US continued to be the major importer of Indian seafood, followed by China, the European Union, South-east Asia, and Japan as the other major customers.

“From Andhra Pradesh, frozen shrimp, frozen fish, squid, cuttlefish, dried items and other varieties were exported,” the JD said.

source/content: thehindu.com (headline edited)