Panalpina’s acquisition by DSV to create global logistics powerhouse

After several weeks of speculation, Danish transportation and logistics firm DSV has confirmed going ahead with its plan to buy out Swiss freight forwarder Panalpina. The deal is valued at $4.6 billion and it is slated to create an over $17 billion revenue entity. The combined entity is likely to function with a new name – DSV Panalpina. “DSV and Panalpina will become one of the world’s largest transport and logistics companies with a combined pro forma revenue of approximately $17.76 billion and a combined workforce of more than 60,000 employees,” an…

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Highest GST revenue collection in March

According to a government release, the total gross GST revenue collected in the month of March, 2019 stood at  Rs. 1,06,577 crore of which CGST is Rs. 20,353 crore, SGST is Rs. 27,520 crore, IGST is Rs.50,418 crore (including Rs. 23,521crore collected on imports) and Cess is Rs. 8,286 crore (including Rs. 891crore collected on imports). The collection during March, 2019 has been the highest since introduction of GST. The revenue in March, 2018 was Rs. 92,167crore and the revenue during March, 2019 is a growth of 15.6% over the revenue in the same month last year. The revenue for the last quarter in the year 2018-19 is 14.3%…

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NTPC’s installed capacity crosses 55 GW

Domestic public sector power giant NTPC has pushed its installed capacity to over 55 GW mark with the recent commissioning of 1st Unit of 800 MW of Gadarwara Super Thermal Power Project (2×800 MW). The Gadarwara Supercritical coal based power project is located in Madhya Pradesh. NTPC group, including its joint ventures and subsidiaries, currently operates 52 stations based on Coal, Gas/Liquid Fuel, Solar, Hydro and Wind energy. NTPC is targeting to achieve total installed capacity of 130 GW by 2032. Recently, NTPC’s Vindhyachal Super Thermal Power Station also set…

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Greater Noida (West) biggest mall to become operational by June

Gaur City Mall, slated to be the biggest mall facility in the upcoming residential hub (Greater Noida West) in Delhi/NCR is likely to become operational in June. The over 8 lakh square foot mall has been developed by Delhi’s leading realty firm Gaurs Group at an investment of Rs 750 crores. It’s a typical mixed land use project wherein the 20 floors facility will retail outlets on the first 5 floors followed by offices and service apartments and has signed up with Radisson Hotels for an upscale 180 key Luxury…

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Traders may impact outcome in 195 Lok Sabha seats

According to a recently released report by the Confederation of All India Traders (CAIT), the votes of crores of traders and the people dependent upon them for their livelihood will be decisive in deciding the future of candidates in 195 Lok Sabha Constituencies in 19 States. These 195 seats includes three seats in Delhi Chandni Chowk, New Delhi & South Delhi, 33 seats in UP, 11 seats in Rajasthan, 13 seats in Gujarat, 21 seats in Maharashtra, 14 seats in MP, 4 seats in Chattisgarh, 16 seats in West Bengal,…

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MP can double its share in country’s exports, says FIEO President

 FIEO President Ganesh Kumar Gupta alongwith a delegation met Kamal Nath, Chief Minister of Madhya Pradesh recently to discuss about exports potential of the state and attract exports centric FDI in pharma, auto components, machineries, textiles, processed agriculture products etc. FIEO offered its assistance to help the state to increase its share from about 1.6% in India’s exports to over 3% in next five years. Looking into the possibilities of augmenting exports to China and Iran of soyabean and soyameal, non basmati rice, pharmaceuticals, technical textiles, FIEO Chief urged the…

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Kerry-Sitthi to develop a dry port in Laos

Kerry Logistics has signed a memorandum of understanding between its subsidiary, KLN (Singapore) Pte and Laos’s Sitthi Logistics for the establishment of a joint venture to develop a dry port in the Vientiane Logistics Park in Laos. The move is part of Kerry Logistics’ development strategy to seek accelerated growth in ASEAN by developing an integrated Greater Mekong Region platform covering Thailand, Cambodia, Myanmar and Laos. The dry port will be situated in an area of approximately 35 hectares, to be developed in phases for the transfer of cargoes at…

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Elara enters the online-to-offline home rentals supply market

Elara Technologies, owner of Housing.com, PropTiger.com, and Makaan.com, has now acquired Gurugam-based tech-enabled rental brokerage platform FastFox.com.  With this acquisition, Elara has entered the online-to-offline home rentals space, which has a market opportunity of over Rs. 20,000 crores. FastFox.com is an online-to-offline (O2O) brokerage firm that works in partnership with other brokers and landlords to list residential properties online for rental purposes. It allows home seekers to check pictures and access in-depth information about available properties. Beyond listings and search, the company helps schedule house visits to enable quick closure with the landlord. It uses technology…

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OBOPAY offers app-based meal vouchering for enterprise customers

OBOPAY, providing enterprise solutions for Telcos, BFSIs and companies with a dominant supply chain focus, has now introduced OBOPAY meal vouchers – an app-based monthly meal vouchering system. OBOPAY has deployed the solution with multiple companies such as Pee Safe and Alsec. The monthly meal voucher system will enable an employee to receive designated meal voucher money as a part of the corporate employee benefit program. The meal voucher money will be transferred into the employee’s OBOPAY card which they can further utilize for transactions at various outlets. The digital…

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LNG Import terminal capacity to double by 2022

According to a recently released report by ResearchAndMarkets.com, the domestic LNG Import Terminal Capacity space is slated to witness plenty of action in the coming years. To meet with its growing energy needs, the country has announced to double the share of natural gas in the energy mix to 15% by 2022 which will witness a hike in imports and huge capital investments inflow for construction of LNG terminals in coming years Historically, India’s natural gas consumption pattern has been on an upward trend since last 6-7 years. With limited…

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