PM unveils 3 major petroleum projects in Bihar

Prime Minister Narendra Modi dedicated to the nation three key projects related to the Petroleum sector in Bihar on Sunday via video conferencing. The projects include the Durgapur-Banka section of the Paradip-Haldia-Durgapur Pipeline Augmentation Project and two LPG Bottling Plants. They have been commissioned by IndianOil and HPCL, PSUs under the aegis of the Ministry of Petroleum and Natural Gas. Speaking on the occasion, the Prime Minister said the Bhagiratha effort to connect eastern India with Paradip on the eastern seaboard and Kandla on the western seaboard began under the…

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Marginal recovery in retail business

According to the 6th edition of the Retail Business Survey by Retailers Association of India (RAI) released last week, there have been signs of marginal recovery in retail business with degrowth figure registered at -52% in the month of August 2020 on a Y-o-Y comparison. Of all the four zonal pockets, South India has given the best performance. According to RAI release, in the month of August’20 on a Y-o-Y comparison, the only category that showed significant improvement was Consumer Durables with sales at -23%. Food & Grocery (-46% y-o-y), Footwear…

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Amway India to scale up home supplies

The Indian arm of global direct selling major Amway is all set to further strengthen its home delivery capabilities following a significant surge in demand via its online channel post- Covid. According to a recent news agency report, as part of delivery capacity enhancement drive, Amway India is set to invest Rs 30 crore in sprucing up its supply chain mechanism.   “In the last few months, we have witnessed a rapid shift in consumer behaviour, especially in retail, with people increasingly migrating to online platforms for shopping. Amway too…

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DP World-CDPQ to further expand investment platform

Global logistics giant DP World and institutional investment major Caisse de dépôt et placement du Québec (CDPQ) have announced further expansion of their ports and terminals investment platform through a new commitment of US$4.5 billion.  This has enhanced the total size of the platform to US$8.2 billion. DP World holds 55% share of the platform, and CDPQ the remaining 45%. Since its launch in December 2016, the platform has invested in 10 port terminals globally and across various stages of the asset life cycle. The enhanced platform will continue to…

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Top management changes at UPS

UPS (NYSE:UPS) recently announced the appointment of  Nando Cesarone to President, U.S. Operations and Scott Price to President, UPS International.    Nando Cesarone previously served as President UPS International and in that role led the company’s business operations in more than 220 countries and territories outside of the U.S. Prior to that, he served as President of UPS’s European operations, leading UPS Europe to record business performance during the company’s five-year investment program. Cesarone also served as President of the Asia Pacific Region.   Nando succeeds George Willis, who has chosen…

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Major ports to use only Indian built tug boats

The Ministry of Shipping has directed all major ports to procure or charter tug boats which are only made in India.  All procurements being done by major ports would now need to be carried out as per the revised ‘Make in India’ order. The Ministry of Shipping is aiming to promote Indian shipbuilding industry and also have discussion with some leading countries for Make in India shipbuilding.  Union Minister of State for Shipping Mansukh Mandaviya said that the Government is taking 360 degree actions to revive old shipyards and promote…

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Western Coalfields to double rail despatch

Western Coalfields Ltd. (WCL), a subsidiary of Coal India Ltd.(CIL) has drawn an ambitious roadmap to almost double its coal despatch capacity through rail mode to meet additional demand of consumers of Power Sector. Company has set ‘Mission 100 Days’ agenda to streamline activities to reach peak despatch of 50 rakes per day from January, 2021 with support from Railways. WCL had recently offered additional coal to Power consumers of Central, West & South India at cheaper landed price. On discussion with State Gencos of Maharashtra, Gujarat, Karnataka, Madhya Pradesh, NTPC & IPPs, WCL expects additional coal…

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ADB signs $500 mln loan for Delhi-Meerut RRTS Corridor

The Asian Development Bank (ADB) and the Government of India last week signed a $500 million loan, the first tranche of a total $1 billion facility, to build a modern, high-speed 82-kilometer Delhi-Meerut Regional Rapid Transit System (RRTS) corridor that will improve regional connectivity and mobility in India’s national capital region (NCR). The signatories to the loan agreement for the Delhi-Meerut RRTS Investment Project were  Sameer Kumar Khare, Additional Secretary (Fund Bank and ADB), Department of Economic Affairs in the Ministry of Finance who signed for the Government of India,…

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PhonePe targets to cover 25 million small merchants

India’s leading digital payment platform, PhonePe, has set the target of covering over 25 million small merchants across India in the next one year. The company will mainly onboard kiranas on its PhonePe for Business app, offering them end-to-end control of the payment process including instant payment confirmations, receipts and reconciliations.    “Despite the rapid penetration of digital payments, kiranas across India still rely on cash. Kirana owners have smartphones, data and the aspiration to adopt newer technology, but there are no services that match their aspirations. Kiranas are looking to acquire…

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Spoton to align with AI-based video analytics

Spoton Logistics, India’s technology & engineering driven express logistics company, is deploying AI-based Video Analytics solutions in one of its largest hubs in a bid to significantly improve performance and give a boost to operational excellence. The AI-based system adds intelligence to the CCTV camera by analyzing video feed, identifying abnormal events, and sending automated alerts in real-time. “Over the years, the installation of cameras at logistics hubs and the use of digital technology has helped Spoton Logistics collect data at every checkpoint and provide end-to-end real-time visibility to all…

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