Business

By IANSlife
New Delhi, Sep 10 (IANSlife) In a spectacular ceremony held in Ho Chi Minh City, Vietnam, The Postcard Hotel, which is scaling new heights in providing unmatched experience luxury to discerning guests, wins various recognitions and makes a mark once more.


The Postcard Hotel has been named "Asia's Leading Boutique Hotel Brand," and its list of important accolades also includes:

* The Postcard Dewa, Thimphu, Bhutan, as 'Asia's Leading Boutique Hotel'

* The Postcard Gir Wildlife Sanctuary, Gujarat, as 'Asia's Leading Wildlife Resort'

* The Postcard Hideaway, Netravali, Goa, as 'India's Leading Boutique Hotel'

* The Postcard Mandalay Hall, Kochi, as 'India's Leading Design Hotel'

The Postcard Dewa, Thimphu, Bhutan

"Since its inception, The Postcard Hotel has stayed true to the vision of providing transformational experiential luxury for perceptive travellers. We continue to take a distinctive approach across our intimate hotel offerings, right from the design and architecture, cuisine to service philosophies and beyond. Our hotels merge seamlessly into the community and become a part of the neighbourhood, all while delivering our benchmark hospitality experience, in every aspect. We are humbled by the multiple recognition received at this year's World Travel Awards 2022. We see it as a testament to our team's unwavering effort in offering the best-in-class experience to our guests and are grateful to our loyal guests for this honour," says Kapil Chopra, Founder and Chief Executive Officer, The Postcard Hotel.

On the fringes of Bhutan's capital city are The Postcard Dewa and Thimphu. It has 15 opulent rooms and is tucked away in a woodland with magnificent mountain views as a stunning backdrop. The hotel is the ideal location for relaxing in the middle of nature while taking in the stunning views of the Khasadrapchu valley and the Wang Chhu river.

The Postcard Gir Wildlife Sanctuary, Gujarat

Gujarat's Postcard Gir Wildlife Sanctuary is located there and spans 16 acre of mango orchards. It is in the home of the Asiatic Lion. The hotel is an entry into the fascinating and uncharted region of Saurashtra and pays homage to the richness of nature. It gives the unique feeling of being alone in the wild while listening to the soothing chirping of migrating birds and the occasional roar of the majestic lions.

The Postcard Hideaway, Netravali, Goa, is a discrete, ultra-modern hotel located on 20 acre of lush vegetation in a remote part of south Goa. The resort provides total seclusion and leisure with uninterrupted views of the hills and Western Ghats in the area.

The Postcard Hideaway, Netravali, Goa

The Postcard Mandalay Hall in Kochi has been designed to provide a memorable experience that connects Kochi's history and present. It is a beautiful art hotel that is tucked away in the cobbled streets of Mattancherry. Each of the five luxurious rooms is an immersive living gallery with installations and works of art by well-known artists.

Three more hotels will debut in 2022 for The Postcard Hotel. The Postcard on the Arabian Sea will be located on the beach, within a 1.5-hour drive from the Mangalore airport. All of the hotel's rooms will have ocean views, so visitors can experience the beauty of the ocean straight from their bed as well as the sound of the waves as they awaken.

In 2022, the brand's first hotel in the Northeast will debut. The Durrung Tea Estate, which spans 1,400 acre and is home to stunning tea gardens, contains The Postcard. The hotel's position advantages from being near the Kaziranga and Nameri national parks as well as being a short drive from the great Brahmaputra. Another hotel in Goa will open this year, allowing visitors to The Postcard to see yet another part of this varied state.

(IANSlife can be contacted at ianslife@ians.in)

--IANS
tb/

San Francisco, Sep 10 (IANS) Intel has kicked off work on the new $20 billion semiconductor plant in the Ohio state in US, as President Joe Biden joined the chip-maker and Ohio Governor Mike DeWine to celebrate breaking ground in the "Silicon Heartland" on the world's most advanced chipmaking facilities.

The chip plant is part of Intel's plans to invest $100 billion in Ohio over the next 10 years.

"Today marks a pivotal moment in the journey to build a more geographically balanced and resilient semiconductor supply chain," said, Pat Gelsinger, Intel CEO.

"The establishment of the Silicon Heartland is testament to the power of government incentives to unlock private investment, create thousands of high-paying jobs, and benefit U.S. economic and national security," he said in a statement.

During the first phase, Intel is providing $17.7 million for eight proposals from leading institutions and collaborators in Ohio to develop semiconductor-focused education and workforce programmes.

The semiconductor manufacturing site will generate 7,000 construction jobs and 3,000 long-term positions in manufacturing and engineering.

The $20 billion semiconductor plant is one of the first domestic chip-making facilities after the recently passed CHIPS and Science Act.

Intel had previously delayed the plant's groundbreaking ceremony because its plans largely relied "on funding from the CHIPS Act.

Biden signed the $280 billion tech and science bill last month, calling it "a once in a generation investment in America itself."

--IANS
na/

New York, Sep 9 (IANS) Taking on Elon Musk-run Tesla, Automaker GM has announced a mass-market electric car that will cost just $30,000.

Called the 2024 Chevrolet Equinox EV, the car will have an estimated range of 480 kms and will go on sale next year.

"We are at a turning point where EVs will be the mainstream choice for the next generation of customers and Equinox EV will lead this charge for us," said Mary Barra, Chair and CEO of General Motors.

"With the flexibility of GM's Ultium Platform, we are bringing to market vehicles at nearly every price point and for every purpose," Barra said in a statement late on Thursday.

With a starting price of around $30,000 on the 1LT model, the Equinox EV plugs Chevrolet into the critical compact SUV segment and is expected to be the most affordable EV in its class.

It rounds out an electrified portfolio that covers major segments, including full-size trucks (Silverado EV), midsize SUVs (Blazer EV) and compact SUVs (Bolt EV and Bolt EUV).

"Chevrolet is now positioned to offer a wide array of EVs," said Scott Bell, vice president of Chevrolet. "We know truck and SUV customers better than anyone and we've channeled that insight and experience into our new EVs."

Chevrolet said it is committed to making the EV transition seamless, with support such as available navigation and route planning through the MyChevy app, which helps locate and plot routes to charging stations.

"The Equinox EV has the range to take you where you want to go, the spaciousness for your passengers and gear, and technology to do it all comfortably and confidently," said Bell.

The 2024 Chevrolet Equinox EV will be available in fall 2023, starting with a limited edition 2RS model.

--IANS
na/

San Francisco, Sep 8 (IANS) After unveiling its next-gen products, tech giant Apple has discontinued older iPhones, including iPhone 11, 12 Mini, 13 Pro, and 13 Pro Max.

According to GizmoChina, the tech giant has replaced the outgoing Pro models with the launch of new Pro models in Apple's iPhone lineup, like it does every year.

The report mentioned that Apple has officially stopped selling the aforementioned older iPhone models, but they will still be available for purchase from retailers around the world while stocks last.

The iPhone 13 Pro series brought some major upgrades. It introduced features like a 120Hz LTPO display, an improved triple camera system, much better battery life, and more. Further, the firm discontinued the iPhone 11 from 2019. It was the first base iPhone with a dual-camera setup, 4GB RAM, 18W wired charging support, and more.

The tech giant has also discontinued the iPhone 12 Mini from 2020, which was the first Mini iPhone, and the most affordable iPhone with an OLED display at the launch.

Meanwhile, at its 'Far Out Event' this week on Wednesday, Apple has unveiled the iPhone 14 series, which were accompanied by AirPods Pro 2nd Gen, Apple Watch Series 8, and Apple Watch Ultra. Unsurprisingly, the American tech giant also announced the discontinuation of select older iPhones.

--IANS
vc/bg

By N. Lothungbeni Humtsoe
New Delhi, Sep 8 (IANSlife) In Indian culture, sweets are very important. Indians are renowned for their love of indulging in a variety of sweets during family gatherings and festivals as well as for sharing love and affection by giving sweets to others. India is without a doubt the world's largest consumer of sugar, and the nation's sweet and namkeen business is worth more than 100,000 crores.


ore than one crore people are employed directly and much more indirectly by the sweet and namkeen sector. The Indian sweets or mithai industry has benefited further from the development of the packaged food sector and customers' growing awareness of hygiene and safety. The sweets business is anticipated to continue showing positive development potential in the future due to shifting customer preferences and the start of the holiday season.

The Thriving Sweet and Namkeen Industry in India

Over the years, Indian sweets witnessed great evolution with new trends, methods, and techniques influencing their make and taste. Thousands of regional varieties exist in India today making an arduous and unfathomable list! No surprise India is heaven for sweet lovers.

Sweets continue to be sold in enormous quantities in India. Sales of mithai and namkeen have never dipped-the industry has grown at healthy double digits every year this century, and the turnover for the organised sweet and namkeen industry crossed INR 1 trillion in 2019-20, according to FSNM (the Federation of Sweets & Namkeen Manufacturers). Despite the initial setback due to the pandemic, the industry is looking at a revenue of INR 65,000 crore in the financial year ending 2021.

The Evolution of the Industry

Chocolates and western snacks were the first movers as far as branding of snacking products is concerned and they have definitely benefitted from that. However, with the passage of time, consumers are realizing that traditional sweets and snacks have a very prominent place in the Indian palette that can't be replaced. Western chocolates and snacks are widely accepted by everyone as packaged products with a shelf-life.

"The outbreak of the pandemic and the implementation of stringent lockdown regulations across several nations resulted in a shift from brick-and-mortar distribution channels to e-commerce platforms for sales. For brands, the challenge was to redefine packaging that attracts consumers through electronic screens. Moreover, brands had the additional task of making their packaging e-commerce-friendly, so as to reduce the use of tertiary packaging," says Manish Aggarwal, Director, Bikano, Bikanervala Foods Pvt Ltd. "While the economy has been struggling primarily due to the pandemic like the rest of the world, e-commerce has seen quite a success in 2020 and 2021. Traditional businesses and shoppers increasingly 'went digital', providing the goods and services online and this has led to a surge in e-commerce and accelerated growth towards digital transformation. With the accelerated adoption of digital platforms for purchases and payments by consumers during the pandemic times, e-commerce and omnichannel strategies have become critical for the FMCG sector. It is expected that the e-commerce channel, especially in the sweet and namkeen business, will continue to witness growth. FMCG companies have incorporated apps in their business processes directly targeting retailers and Kirana stores who offload their products and serve as last-mile sellers/suppliers to end consumers."

Road Ahead

"With the new government regulation regarding investments in FMCG companies and accepting foreign-directed investments, the sector has seen a sudden influx of funds. The governments' incentives and the FDI funds have helped the FMCG sector strengthen employment, establish a more robust supply chain, and capture high visibility for FMCG brands across established retail markets. While offline purchases were fundamental to the growth of the Indian sweet industry, online channels are expected to see a significant growth rate in the years to come." adds Manish Aggarwal.

The pandemic was a game-changer for the industry and though change is the only constant, the relevance of keeping the customer at the centre of all business decisions and innovation will never change.


(N. Lothungbeni Humtsoe can be contacted at lothungbeni.h@ians.in)

--IANS
lh/tb

By Venkatachari Jagannathan
Chennai, Sep 8 (IANS) With increasing exports, growing domestic market, almost zero imports from China, emergence of mega toy cluster, the Indian toy industry is all set to become the toy maker for the world, said the sector experts.


According to them, a little nudge from the Central government in the form of a production linked incentive (PLI) scheme is the need of the hour which would have a multiplier effect.

"We are shipping toys for global majors. Global toy majors are now looking at India as a steady sourcing point apart from China. India is a huge country and is not limited by space or men unlike many other smaller countries," Rajeev Kaul, Chief Operating Officer and Managing Director, Aequs Private Ltd told IANS.

"Global toy companies have increased their sourcing from India. Our exports are growing exponentially. We make toys for overseas players and also ship out our own branded toys," R. Jeswant, CEO, Funskool India told IANS.

The Rs 231 crore turnover Funskool earned Rs 145 crore from exports and Rs 86 crore from domestic sales.

"For the current year, we hope to earn Rs 175 crore from exports out of targeted turnover of Rs 275 crore," Jeswant added.

With demand - exports and domestic - increasing Funskool is expanding its production facilities at Ranipet. The company also has a big plant in Goa.

"We are exporting to over 30 countries including the USA and Europe. Ten more overseas markets will be added soon," Jeswant said.

Similarly, Micro Plastics India has announced a new toy facility in Hosur in Tamil Nadu at an outlay of Rs 500 crore.

On its part, Aequs is also putting up a huge facility at Koppal to make toys for the domestic market - for its own brands and for manufacturing toys for others, said officials.

Jeswant said the BJP government's initiatives like increasing the import duty to 66 per cent, compulsory BIS certification of the toy manufacturing units overseas to supply to India has given the needed fillip to the Indian manufacturers.

"It all started with Prime Minister Narendra Modi's radio broadcast 'Maan ki Baat' in 2020, where he expressed his desire to establish India as a global toy hub," Jeswant said.

Industry officials like Kaul and Jeswant said once the volumes pick up, most of the raw materials - paints, plastics and resins- will be available within the country while some of these are imported now.

Aequs has begun digital printing/painting of dolls which increases the output manifold while cutting down waste.

"For the past five years, our focus was on contract manufacturing for global toy makers," Kaul said.

Aequs makes toys for global majors like Hasbro and others.

The group has about 4.5 lakh sq.ft toy production facility at its Special Economic Zone (SEZ) in Belagavi in Karnataka.

Aequs Group is developing a 450 acre mega toy cluster - 60 per cent SEZ and 40 per cent Domestic Tariff Area (DTA) - at Koppal - the area known for Kinnal toys- in Karnataka.

Officials told IANS that the group will have about 6 lakh toy manufacturing facilities at Koppal - 1.4 lakh sq.ft for DTA and about 4.6 lakh sq.ft in SEZ.

According to Aequs officials, the group offers plug-and-play facilities for toy makers. The facilities are built-to-suit the clients.

"In case of needs the group also provides the units with necessary manpower,a Aequs officials said.

The toy cluster also has a 60,000 sq.ft incubation centre for startups.

"The Koppal toy cluster can have about 100 units and provide direct employment for 25,000 persons," an Aequs official told IANS.

The toy cluster has already attracted component maker Viscon Polymers.

Apart from the toy manufacturers, the central government should also include the infrastructure developers under the PLI scheme, an Aequs official added.

In addition to offering manufacturing facilities, the Koppal Toy Cluster will also offer accommodation facilities for workers and office staff.

(Venkatachari Jagannathan can be reached at v.jagannathan@ians.in)

--IANS
vj/shs

New Delhi, Sep 7 (IANS) The Adani Group will be building three giga factories in India leading to one of the worlds most integrated green-energy value chains, Gautam Adani, Chairman of the Adani Group, said.

Speaking at an event where he was conferred the USIBC Global Leadership Award, Adani said this will extend from polysilicon to solar modules, complete manufacturing of Wind Turbines, and the manufacturing of Hydrogen Electrolyzers.

"As a result, we will generate an additional 45 GW of renewable energy to add to our existing 20 GW capacity, as well as 3 million tonnes of hydrogen, all of which will be completed before 2030," Adani said.

This value chain will be fully indigenous and aligned with the geopolitical needs of our nation. "However, I believe we can further accelerate our goals with support from companies in the US that are willing to work with us," Adani said.

He said the semiconductor industry is a classic example with more engineers deployed in India than anywhere else in the world, and yet, India has no semiconductor plant. India cannot remain dependent on global supply chains that are based on semiconductor nationalism and will need US support with technology transfer.

Adani said the term deglobalization gained prominence because of the divisions that came about as a result of the pandemic. "We must never allow this to happen again, given the mistrust it creates. Vaccine collaboration between our nations must be high on our priority list and needs to be formalized in a mutually beneficial way," he added.

Likewise, defence and cyber are two critical areas that the US and India must work on. Trust comes from collaboration in these areas. India needs support in both these areas and, at this time, we are just skimming the surface. These are two essential areas where our partnerships must span technology transfer to be able to build mutual confidence, Adani said.

He urged the USIBC to facilitate a broader platform that brings together executives from similar industries on both sides on a regular basis.

There are a lot of gains to divide with the size of the two economies beginning to converge as we approach 2050, Adani added.

--IANS
san/ksk/

Brussels, Sep 7 (IANS) Under new rules proposed by the European Union (EU), Russians will now have to face a lengthier visa application process and see fees rise from 35 euros ($34) to 80 euros ($79) in order to enter the bloc.

According to the European Commission, these new rules should continue until Russia continues to wage its ongoing war against Ukraine, reports the BBC.

Taking to Twitter on Tuesday evening, EU Commission President Ursula von der Leyen said: "There can be no business as usual with Russia.

"We propose to fully suspend the EU Visa Facilitation Agreement and not to recognise Russian passports issued in occupied Ukrainian regions.

"Visa facilitation is a token of trust, which Russia's war of aggression has completely shattered."

Besides the hiked fees and the lengthier application process, Russian travellers will also face restrictions on multi-entry visas and a longer required list of supporting documents.

Also commenting on the move, Margaritis Schinas, an EU Commission Vice President, said Russia had "completely undermined" the trust on which the existing EU-Russia visa agreement was based.

Under that agreement, Russians had for 15 years enjoyed a streamlined process for getting EU visas, said the BBC.

"Russians should not have easy access to the EU and travelling to the EU as a tourist is not a human right," said EU home affairs commissioner Ylva Johansson on Tuesday.

Tuesday's move follows a decision last week by EU Foreign Ministers, when they agreed in principle to suspend the existing visa agreement with Moscow.

The plan had been seen as a compromise, with Ukraine and some EU member states calling for a blanket ban, but others like France and Germany opposed to going that far.

Some EU countries bordering Russia have already started to tighten border controls.

The EU Commission is also proposing that the member states should refuse to recognise Russian passports issued in occupied Ukraine.

--IANS
ksk/

Chennai, Sep 6 (IANS) Reliance Industries Ltd has signed a definitive agreement to acquire a majority stake in the US-based SenseHawk Inc for $32 million.

In a regulatory filing late Monday, Reliance Industries said it has inked an agreement to acquire majority stake in SenseHawk for $32 million including funding for future growth, commercial rollout of products, and research and development (R&D).

The turnover of SenseHawk for FY 2022, FY 2021 and FY 2020 was $2,326,369, $1,165,926, and $1,292,063, respectively.

The transaction is subject to certain regulatory and other customary closing conditions and is expected to be completed before end 2022.

The California-based SenseHawk is a developer of software based management tools for the solar energy generation industry.

According to Reliance Industries, SenseHawk helps accelerate solar projects from planning to production by helping companies streamline processes and use automation, Reliance Industries said.

Sensehawk, along with the other investments of the Company in New Energy, will be synergistic and create unique solutions with higher value to customers, Reliance Industries said.

"We welcome SenseHawk and its dynamic team to our family. RIL is committed to revolutionize the Green Energy sector and has a vision to enable 100 GW of solar energy by 2030," said Mukesh Ambani, Chairman and Managing Director, Reliance Industries.

"In collaboration with SenseHawk, we will drive down costs, enhance productivity and improve on-time performance to deliver the lowest LCoE (levelised cost of electricity) for solar projects globally and make solar energy the go-to source of power in lockstep with our vision for solar energy. It is a very exciting technology platform and I am confident that, with RIL's support, SenseHawk will grow multifold," he added.

"We are delighted with the confidence that RIL (Reliance Industries Ltd) has demonstrated in us with this investment. The SenseHawk team foresees strategic value in working with RIL, as one of the largest global infrastructure corporations, and look forward to this next phase in our growth," Swarup Mavanoor, CEO and Co-Founder, SenseHawk said.

--IANS
vj/ksk/

Mumbai, Sep 5 (IANS) The Indian rupee ended 4 paise up at 79.84 against US dollar on Monday. At Interbank foreign exchange market, rupee ended at 79.84 as against 79.80 against the US dollar on Monday.

"Market participants vary as the central bank's dollar supply at one end limits the downside while the broad-based strength in the dollar pushes the rupee lower. However, one should always keep in mind The trend is your friend -- and any dip in USDINR will be an opportunity to buy as long as it trades above 79 while on the higher side one can expect a rally above 80.10," said Dilip Parmar, Research Analyst, HDFC Securities.

Dollar index, which gauges the the strength of greenback against the basket of six major currencies were at 109.915.

Brent crude oil prices were at $96.21 a barrel by the closing of Indian market hours.

Meanwhile, Sensex ended 442.65 points ot 0.75 per cent up at 59,245.98, and Nifty ended 126.35 points or 0.72 per cent higher at 17,665.80.

About 2,208 shares have advanced, 1,348 have declined and 180 remained unchanged.

SunPharma, ITC, NTPC, Reliance Industries, Larsen and Toubro were major gainers on the Sensex on Monday. BSE LargeCap ended up 0.59 per cent, while BSE SmallCap and MidCap closed 0.89 per cent and 0.46 per cent higher.

"80.00 has been acting as a very strong barrier any close above 80.00 shall provide strong covering towards 80.25/30 levels," said Jateen Trivedi, VP Research Analyst at LKP Securities.

--IANS
msn/pgh