Business RoundUp #Week12

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Beer Sales Bring No Cheer

A ban on liquor sales near highways and rise in prices in a few states had an adverse effect on beer sales, according to a report.

The volume of beer consumed in the country fell one per cent to 259.19 million cases in 2017 from 287.99 million cases in 2016, according to industry officials, citing excise department data. This is the second consecutive year of decline and the worst performance of the beer industry since at least two decades, said companies involved in making the beverage.

Aramco Eyes Stake In Refinery

The world’s largest oil producer Saudi Aramco is eyeing a stake in India’s biggest oil refinery to be set up in Maharashtra, according to a report.

The plant will cost 1.8 lakh crore rupees. State-owned Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation together plan to set up the 60-million tonnes per year oil refinery on the west coast to meet the rising fuel needs of the country.

Amazon Seeks Focus On Local Markets

Amazon wants to encourage sellers on its platform to focus more on their local markets, says a report.

This will help the company to deliver products cheaper and faster to customers. It is looking to push certain categories such as apparel and grocery. Amazon’s local unit brought about several changes to its seller fee structure, making it cheaper for sellers to ship locally so as to increase delivery speed and induce more customer buying, while increasing costs for regional and national shipping.

Salman To Be The Appy Face

Bollywood superstar Salman Khan has been appointed the new face of sparkling fruit juice drink Appy Fizz, reveals a report.

Beverage company Parle Agro said Salman, whose “stylish, macho and magnetic attitude” makes him a “seamless fit” for the brand, will feature in its newest #FeelTheFizz campaign. “I am positive the fans and the brand’s consumers will Feel the Fizz,” Salman said.

Enfield Roars Into Argentina Market

Niche bike maker Royal Enfield aid it has forayed into Argentina market, according to a report.

The country is the second biggest motorcycle market in Latin America. The company has launched its first flagship store in Buenos Aires commencing full operation, including after sales, spares and service.

Micromax To Take Patent Licence From Ericsson

Handset maker Micromax Informatics will take a global patent licence from Ericsson, says a report.

Under this, the company will pay royalties to the Swedish telecom gear maker on every phone it sells in India and overseas that uses 2G or 3G technology. The agreement, signed earlier this year, came after mutual negotiations between the companies that had been engaged in a five-year long legal battle in the Delhi High Court.

Videocon To Cancel Philips Deal

Consumer electronics manufacturer Videocon Industries has decided to cancel its licensing agreement with Philips, reveals a report.

The company is saddled with debt three times its size. Videocon had entered into a five- year brand licensing agreement with Philips in 2010 to market the latter’s television sets in India. Further Videocon may also give up its licence to make and sell appliances under Swedish brand Electrolux in India.

Babu Kalyanpur

Babu Kalyanpur, ( Consulting Editor) has rich experience in both sports and business journalism. Babu has led news desks in Pune and Bahrain and writes extensively on his passion, sports and business besides current affairs and matters of importance to Pune.

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