UPS takes complete control of express business in India

Global air express giant UPS has decided to take complete control of its express services in India. In a recent announcement, the company maintained that it has attained full ownership in its express services unitin India which was earlier served by a joint venture where UPS had majority stake. The express services joint venture exclusively served UPS’s international express small package shipping business in India.  “India has emerged as a key player in the shipping and logistics sector and UPS is poised to play a leading role in supporting international…

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Agreement to use two Bangladesh ports to improve bilateral trade

India and Bangladesh signed several milestone agreements last week for enhancing inland and coastal waterways connectivity between the two countries for trade and cruise movements after a crucial meeting between  Shipping Secretary Gopal Krishna, and his Bangladesh counterpart Abdus Samad. Following this meeting, the two countries signed an agreement to use Chattogram and Mongla Ports in Bangladesh for movement of goods to and from India. In addition to this, an addendum to ‘Protocol on Inland Water Transit and Trade’ (PIWTT) between India and Bangladesh has been signed for inclusion of…

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DP World reports lower volume growth in nine months period

DP World handled 53.6 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first nine months of 2018, with gross container volumes growing by 2.6 % year-on-year on a reported basis and 3.7% on a like-for-like basis.Gross like-for-like volumes declined by 0.5% in 3Q2018 due to the tougher year-on-year comparables (3Q2017 volumes grew 13.5% year-on-year), and softer volumes in the UAE. The UAE handled 11.3 million TEU in 9M2018, down -2.1% year-on-year, with 3Q2018 volumes down -6.7% year-on-year due to the challenging macro-environment and loss…

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BEL records hefty growth in Q2

Navratna Defence PSU Bharat Electronics has reported robust topline and bottomline numbers in the second quarter of        FY 2018-19. The company has achieved a turnover of Rs. 3282.40 crore, during the 2ndquarter of FY 2018-19, registering a growth of about 35 %, over the turnover of Rs. 2431.73 crore recorded in the corresponding period of the previous year. Profit After Tax (PAT) during the 2nd quarter of FY 2018-19 stood at Rs. 571.31 crore, registering a growth of about 39 % over the Profit After Tax (PAT) of Rs. 412.39 crore…

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New policy to boost agriculture exports

The government will soon unveil a new policy to give a major boost to agriculture exports. This was stated by Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, at the Export Summit 2018 organised by Confederation of Indian Industry in New Delhi last week. Speaking on the occasion, the Commerce Minister maintained that soon to be unveiled agri export policy will give a major boost to the agricultural sector and will pave the way for Indian farmer’s income to be doubled. India produces 600 MT of agricultural…

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Decks cleared for more rice exports to China

Five more rice mills have been cleared for exporting non-basmati rice, from India to China, taking the total to 24 rice mills. The first consignment of non-basmati rice, of 100 tonnes, was shipped to China, from Nagpur, in September this year. In May this year, officials from China inspected rice mills that are capable of exporting non-basmati rice to China and 19 rice mills and processing units were registered for export to China. During Prime Minister, Narendra Modi’s, visit to China, in June this year, an MoU was signed between China’s…

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Proliferation in bad online shopping experience, says Pitney Bowes Study

Pitney Bowes (NYSE: PBI), a global technology company that provides commerce solutions in the areas of ecommerce, shipping, mailing, and data, recently published key findings from the 2018 Pitney Bowes Global Ecommerce Study. As online retailers and marketplaces prepare for record volumes of ecommerce orders this holiday season, the study found that 61% of consumers globally felt let down by their online shopping experience during the last holiday season. This figure is up significantly from 47% in 2017, and 41% in 2016.   Consumers pointed to post-purchase experiences, including items…

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Indus Towers, Huawei win top awards at India Mobile Congress

A major attraction of the expansive India Mobile Congress 2018 exhibition held last week at Aerocity, Delhi was IMC Digital Communications awards. The awards were given to the companies, for their exemplary contribution to the sector. The highlight of the award ceremony was Indus Towers which won the IMC Digital Communications award for “Best Green Technology Adoption for Telecom Networks”. This was part of total five IMC Digital Communications award categories. Other winners included Huawei Communications India for “Innovative Network Solution of the Year for Connectivity”; Hotstar for the “Best…

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IEBF to host annual Global Investment Conclave in London

Indo European Business Forum(IEBF), an independent organization, promoting two-way flow of trade and investment in India and EU member countries, will be hosting its annual two days international conclave on ‘Investment Opportunities in New India’ from November 2-3, 2018 at the House of Lords in London. Today, Indian economy has the potential to become a $10 trillion economy by 2030. IEBF’s Global conclave aims to encourage investment from the European Union into India.   Established in 2007, IEBF has been working towards strengthening India-EU relations for a better tomorrow. Apart from the…

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