Midea Eyes Facility
China’s Midea Group is planning to invest Rs 800 crore in opening a manufacturing facility near Pune, says a report.
The white goods group said the unit will come up at Supa Parner Industrial Park and employ 500 people. It will also launch customised products under the Midea brand. The company plans to locally produce and sell Toshiba’s range of white goods after acquiring the business last year.
Pune Centre To Be Shut
Beverages maker Coca-Cola is shutting down its biggest analytics, technical and innovation centre in the country based in Pune, according to a report.
This part of the company’s restructuring plan, it said. The Eurasia analytical services facility was set up with an investment of Rs 18 crore in 2010 to support operations in India, South Asia, Eastern Europe, Southern Eurasia and the Middle East.
Baba Ramdev’s Patanjali Ayurved has boosted its advertising on TV by 34 per cent in the first half of this year, it was reported.
The Broadcast Audience Research Council of India said the firm, the third largest TV advertiser last year, inserted 572383 advertisements until June 9 this year, compared with 425727 during the same period last year.
H&M Posts Profit
Swedish brand Hennes & Mauritz (H&M) posted a profit of Rs 445 crore in India for the year ending 2016, says a report.
The results reflect the popularity of the brand in the country. The performance was among the best in the Indian retail market, outshining Zara which had set a benchmark after it was launched in 2010.
More Benefits Set
Amazon Prime plans to include benefits like events ticketing and cashbacks through the Amazon Pay wallet, says a report.
The subscription-based programme’s membership tripled from January this year to June. The number of products under prime has increased 70 per cent to two million since its launch.
New Notes On Way
The Reserve Bank of India (RBI) had begun printing bills of Rs 200 to help ease consumer transactions, a report says.
The notes are being printed at one of the government’s own facility after the order was placed by the RBI a few weeks ago, the report adds.
Bharat Forge In Race
Bharat Forge and Sona Koyo Systems are competing with private equity funds Blackstone Group, KKR and DA Capital to acquire all or part of Amtec Group’s businesses, according to a report.
The deal could be worth $1 billion. The group’s lenders are planning to auction the group’s units to get their money back.
Cyber-security Jobs Boost
Numerous ransomware attacks recently have boosted the demand for cyber-security experts to an all-time high in the country, according to a report.
This has led to companies seeking graduates in the field. Universities and educational institutions have also jumped on the wagon, offering courses on the subject.
Private Label Launched
Flipkart has launched a private label in men’s fashion and accessories, as part of its push into that category, a report said.
Metronaut currently has a selection of denims, T-shirts, shirts and accessories like belts, wallets and sunglasses. Flipkart is planning to add more private labels ahead of the festive season.