Business Roundup # Week 41

Business news
Image used for representation only

Cargill Eyes Expansion

The Indian unit of US-based Cargill Foods is planning to expand its food retail business in the country, says a report.

Cargill Foods India will include more edible oil brands, wheat derivatives and vegetable proteins. It plans to introduce more products into fats, carbohydrates and proteins to serve the needs of the Indian kitchen. Currently, it markets wheat flour, edible oil and food ingredients.

Office Space ‘Stable’

Office space absorption is expected to remain stable this year, supported by commitment of corporate occupiers, according to a report.

According to a report by Cushman & Wakefield, the year is expected to finish with 32 million sq ft take-up across the top eight property markets. Net absorption at the end of September was 18 million sq ft led by Bengaluru with 4.8 million sq ft.

Raffles Entry Set

French hotel group AccorHotels will launch its ultra luxury brand Raffles in India, says a report.

The first Raffles property will come up in Udaipur, Rajasthan. The Raffles brand is presently in Paris, Singapore and Istanbul. AccorHotels acquired Fairmont and Raffles last year in a $2.7 billion deal after signing a deal with the Qatar Investment Authority.

Proof Sought

Domestic airlines have been asked by the aviation ministry to provide proof of the Dubai airport’s commitment to offering more slots to them before starting talks on increasing the number of flights between India and the emirate, a report revealed.

The proof would be essential before resolving the long-pending issue, an aviation ministry official said, adding that they were looking for proof beyond the letters issued to the airlines on the subject.

Digital Ad Spends To Rise

Digital advertising spends are set to rise at least 30 per cent by 2021 as internet penetration and data consumption increases, according to a report.

Mobile advertisement spends and social media aided digital video advertisement spends are expected to grow at around 40% to 50% in the same period, the Digital First Journey report by KPMG added.

Nokia Push

Nokia is mulling entry into the emerging 4G feature phone market which is being tapped big time by Reliance Jio’s offering Jio Phone, says a report.

HMD Global, the maker of Nokia smartphone, is watching this segment closely as Jio completes its launch. It is looking for a viable business proposition in this regard.

Hyundai Mulls India Drive

Korean giant Hyundai is mulling a major push into the Indian market by bring three more subsidiaries other than Kia Motors to boost its strong market in the country, a report reveals.

Hyundai has gained popularity in India after entering the market some 20 years ago and has achieved good profits.  Currently the Korean conglomerate is planning to enter the commercial vehicles segment and seeking a joint venture for busses and medium heavy trucks.

New Gateway

IndiaMart has introduced its own payment gateway as part of its digital drive for its three million suppliers and more than 40 million buyers, according to a report.

This will help sellers claim their dues without having to physically visit the company, an IndiaMart official said.

Film Industry To Grow

The Indian film industry is likely to grow 11.5% year-on-year, a report reveals.

According to a PHD Chamber report, the film industry grosses Rs 13,800 crore and by 2020, the figure is set to reach Rs 23, 800 crore. This will be spurred by the increasing demand by international studios to shoot their films 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.

Latest posts by Babu Kalyanpur (see all)

Comments

comments