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Coronavirus wipes USD 50 billion From global Exports in February

5Mar By PriyankaNo Comments

BUSINESS

Coronavirus wipes USD 50 billion From global Exports in February

UN economists announced a likely USD 50 billion drop in worldwide manufacturing exports in February alone as the extent of the damage to the global economy caused by novel coronavirus COVID-19 moved further into focus. Citing the China Manufacturing Purchasing Manager's Index (PMI), Pamela Coke-Hamilton, who heads UNCTAD's Division on International Trade and Commodities, said that it had fallen to 37.5 - a drop of about 20 points the lowest reading since 2004. This also correlates directly to exports and also implies a two per cent drop in overall exports, she said, with a resulting ripple effect worldwide to the tune of a USD 50 billion fall in exports. Because China has become the main supplier of finished products and so-called intermediate products used in countless industries...

Volvo Cars and Its Chinese Owner Plan to Merge

10Feb By AnkitaNo Comments

Automobile

Volvo Cars and Its Chinese Owner Plan to Merge

Sweden's Volvo Cars and its Chinese owner Geely said they are considering merging into a single group to better share technology and financial resources while preserving their separate brands. The merged firm "would have the scale, knowledge and resources to be a leader in the ongoing transformation of the automotive industry," they said in a statement. "The combination would preserve the distinct identity of each of the brands Volvo, Geely, Lynk & Co, and Polestar," they added. Geely bought Volvo in 2010 from Ford which hadn't been able to turn around the Swedish automaker. But under the Chinese firm Volvo has rebounded and smashed its sales records. Volvo sold more than 705,000 vehicles in 2019, besting the record it set in 2018 by 10 percent, and the automaker expects co...

Platinum Equity Acquires Cision Ltd for $2.7 Billion

1Feb By AnkitaNo Comments

ACQUISITION

Platinum Equity Acquires Cision Ltd for $2.7 Billion

CHICAGO, Jan. 31, 2020 -- Cision Ltd., a leading global provider of software and services to public relations and marketing communications professionals acquired by an affiliate of Platinum Equity in an all cash transaction valued at approximately $2.7 billion. "Cision is well established as the industry standard platform for communications professionals navigating an increasingly complex environment," said Platinum Equity Chairman and CEO Tom Gores. "This is an investment that plays to Platinum's core strengths. We will deploy our full range of global operations capabilities, financial resources and M&A support to help the company maximize its potential." As of January 31, 2020, Cision is a privately held company. Cision shares ceased trading on the New York Stock...

20Jan By Press Trust of IndiaNo Comments

BLOGS

‘Fake it until you make it’ Attitude May Backfire at Work

According to a study, Faking a positive attitude to elicit benefits may backfire when used with co-workers and making an effort to communicate the felt emotions can be more productive. The study, published in the Journal of Applied Psychology, surveyed working adults in a wide variety of industries including education, manufacturing, engineering, and financial services for two types of emotion regulation surface acting and deep acting. "Surface acting is faking what you're displaying to other people. Inside, you may be upset or frustrated, but on the outside, you're trying your best to be pleasant or positive," said Allison Gabriel, study co-author. "Deep acting is trying to change how you feel inside. When you're deep acting, you're actually trying to align how you feel with how ...

InstaReM rebrands to Nium, World’s First Global Enterprise Payments Platform

30Oct By AdityaNo Comments

News

InstaReM rebrands to Nium, World’s First Global Enterprise Payments Platform

Singapore, 30 October 2019: Leading digital cross-border payments provider InstaReM is rebranding to become part of Nium. Headquartered in Singapore, Nium is the global payments platform to enable businesses to send, spend and receive money from around the world, in addition to empowering them to develop their own products that simplify cross-border payments. Nium’s ambition is to create a world of ‘Open Money’ where everyone’s money is free for them to use whenever, wherever and however they wish. The launch of Nium was announced at the Money 2020 USA event in Las Vegas on 27 October 2019. Prajit Nanu, the India-bred Co-Founder and CEO of Nium said, “As we look to the future, our strategy is to move beyond merely creating services on our own proprietary platform. We have worked ...

Top 5 Reasons Why Every Business Needs Insurance

15Oct By AdityaNo Comments

BLOGS

Top 5 Reasons Why Every Business Needs Insurance

Running a business comes with a number of inherent risks; an employee could be injured whilst on the job, your property could be hit by a fire or a natural disaster, or a client could file a lawsuit, for example. For these reasons amongst many others, it’s important to make sure that your business assets are protected. One of the best ways to do this is to ensure that your company is adequately insured. We’ve put together some of the top reasons why your business needs insurance. It’s Illegal Not To: First of all, it’s actually the law to insure your business if you are hiring employees. Legally, employers need to be covered with certain types of insurance including worker’s compensation, unemployment, and disability, depending on your state. Failing to get these legally require...

How to Build Your Small Business From Scratch

26Sep By PriyankaNo Comments

Story

How to Build Your Small Business From Scratch

More and more individuals are dreaming about leaving their 9 to 5 jobs with the intent to start a business and become financially independent. However, while this idea might sound super appealing, it takes a lot of effort and it is not a stretch to say that plenty of such attempts end up as a failure. You can find a lot of guides on the internet like how to start a small business in 12 steps by Oberlo, but even these great articles do not cover the whole thing. After all, you will need a lot of experience and there is no denying that business takes time to build. But that is certainly not enough. These unorthodox tips will help you look at the whole process from a different perspective the next time you are planning to start a business. Be sure to read them. Being Yourself ...

Saudi Arabia Extended its business hours

17Jul By NitishNo Comments

MIDDLE EAST

Saudi Arabia Extended its business hours

Saudi Arabia's Cabinet has approved a measure to allow shops to remain open for 24 hours, but the move stops short of explicitly peeling back the mandatory closure of stores during daily Muslim prayers. The decision, reported by the state-run Saudi Press Agency, only says that the Ministry of Municipal and Rural Affairs will decide the fees shops would need to pay to remain open around the clock. The move could help local businesses boost their sales. Any decision to allow stores to remain open during prayer would likely stoke public backlash from conservative Saudis. Although the powers of the kingdom's morality police have been curbed under King Salman, they still monitor that shops close for the five daily prayers, though that enforcement has become lax in some neighbourhoods. ...

230 Crore Deal: Reliance Jio Acquires Haptik

3Apr By PriyankaNo Comments

ACQUISITION

230 Crore Deal: Reliance Jio Acquires Haptik

Reliance Jio a subsidiary of Mukesh Ambani led Reliance Industries acquires AI based platform Haptik in 230 crores. After the acquisition Reliance jio will invest 470 crores in the further operation. The Haptik team will continue to drive growth of the business, including the enterprise platform as well as digital consumer assistants. On a fully diluted basis Reliance will hold about 87% of the business with the rest being held by Haptik founders and employees through stock option grants. This transaction enables Reliance Jio to leverage Haptik’s capabilities across various devices and touch points in the consumer’s journey. The investment focus is on enhancement and expansion of the platform, with an addressable market opportunity of over 1 billion users in India. This partnershi...

Okta acquire Azuqua to Connect Cloud Business App in the Enterprise

10Mar By NitishNo Comments

ACQUISITION

Okta acquire Azuqua to Connect Cloud Business App in the Enterprise

March 10, 2019 — Okta, Inc., the leading independent provider of identity for the enterprise, today announced it has entered into a definitive agreement to acquire Azuqua, a leader in no-code, cloud-based business application integration and workflow automation. The proposed acquisition is expected to close during Okta’s fiscal first quarter, subject to the satisfaction of certain closing conditions. Nikhil Hasija, founder and chief product officer of Azuqua, will join Okta’s engineering team to help lead the company’s workflow automation strategy, beginning with the integration of Azuqua’s workflow offering into Okta's Lifecycle Management product. As every company transforms itself into a technology company, the proliferation of apps and services that power the modern business ...

Using This Service, You Can Send Multiple Currencies in One Click

2Jan By AnkitaNo Comments

Story

Using This Service, You Can Send Multiple Currencies in One Click

InstaReM, Southeast Asia’s leading money transfer service, has introduced a new feature to its money transfer platform that enables Small & Medium Business (SMB) users to make payments in multiple currencies in one go. Businesses making regular payments overseas to vendors, suppliers and service providers, can now do so more quickly, transparently and at Zero-Margin FX Rates with InstaReM. Until recently, the business customers making multiple payments had to set up individual transactions for each payment and execute them one by one, requiring additional time and effort. With the ability to set up multiple transactions in one go, a business user can now make transfers to multiple beneficiaries in multiple currencies at the click of a button. There are no setup fees or month...

Bike Tax Service Baxi Plans to Roll Out a Hyperlocal Delivery Model

26Dec By Gauri SinghNo Comments

Automobile, News

Bike Tax Service Baxi Plans to Roll Out a Hyperlocal Delivery Model

Gurgaon-based 74 BC Technologies, which owned and operated bike taxi service Baxi, is reportedly in the process to launch a hyper-local delivery model. For this, the company has tied up with two major FMCG brands. Baxi had raised Rs 10 crore in 2015 from a host of well-known early-stage investors and is in the final stages of launching its hyper-local delivery service, which is expected to go live in January. The company has also partnered with home-grown consumer goods brand Patanjali Industries and dairy major Mother Dairy. As part of the pivot, Baxi will rebrand as B-fresh, and will deliver goods, across the dairy, fruits and vegetables, drugs and other household items to consumers spread across Gurgaon and certain parts of Delhi. “The idea was to tie up wit...