Archive: July 13, 2022

News

AP CM Jagan Mohan Reddy Orders Release of Rs. 2 crore each to Four Vulnerable Districts in Andhra Pradesh

Jul 13, 2022 by Rekha Nair 0 Comments

Amaravati, Andhra Pradesh July 12, 2022: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy alerted District Collectors to be vigilant as IMD predicts heavy rain in the next two days during the video conference meeting on Tuesday.

As a precautionary measure, the Chief Minister released Rs. 2 crore each to four districts – Eluru, Alluri Seetharama Raju, East Godavari, and Dr. Ambedkar Konaseema – which are prone to floods and heavy rainfall. He also directed other collectors to feel free and send any requests to Chief Secretary and CMO, who are available round the clock.

Regarding the flood relief camps, the Chief Minister directed the Collectors that they should have all quality essential commodities. “Foods, blankets, and toilets should be of good quality. People leaving the camps should get Rs. 2,000 per family or Rs. 1,000 per person, whichever is reasonable,” said the Chief Minister.

He noted that in the past 100 years, we have never seen the discharge of water at this level (13 lakh cusecs) in early July in the river Godavari, which is very alarming. Since Maharashtra expected to receive more rainfall, it would impact the Godavari.

The Chief Minister directed the Collectors to be mindful of these numbers and follow the standard operating procedures. “Not one loss of livelihood should be registered anywhere in the state and be vigilant. Two NDRF teams have been deployed in Kunavaram and Chintoor while four SDRF teams in other districts,” CM Jagan Mohan Reddy said.

He directed the Collectors to set up control rooms in the district and ensure that it was operational and monitored round the clock. Further, the line department should be prepared with alternatives, and SOP followed, the CM said.

Noting that people shifted to the relief camps should get the best quality services, Chief Minister said, “Collectors should show empathy towards people and be humanitarian. Put yourself in their shoes, and think of their needs and provide them.”

He instructed the officials to stock the essential medicines and ensure PHCs, CHSs, and area hospitals available including the nursing staff for emergencies. Further, pregnant women in vulnerable areas should be immediately shifted to hospitals. “Ensure Comprehensive Protected Water Supply (CPWS) is functioning at all costs. And water tankers should also be available,” said CM Jagan Mohan Reddy.

“Be aware of weak structures in your districts since if there is a loss of life, it would be a man-made calamity. Boats and life jackets should be positioned in vulnerable areas,” Chief Minister informed the Collectors.

The Chief Minister also asked the collectors to send daily reports of losses and damages in the districts.

Business

Truemark Investments & Rivernorth Capital Management Launch First Actively Managed Pre-Merger Spac Etf To Incorporate Leverage

Jul 13, 2022 by Rekha Nair 0 Comments

Chicago, July 2022 — RiverNorth Capital Management, LLC and TrueMark Investments today announced the launch of the RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ), trading on the NYSE. SPCZ is an actively managed Fund that invests in pre-merger securities of SPACs (Special Purpose Acquisition Companies) whose business plan is to raise capital in an Initial Public Offering (IPO) and, within a specific period, engage in a merger or acquisition with one or more unidentified companies. Trading in the new Fund is live today.

“SPCZ is the first pre-merger SPAC ETF to opportunistically deploy leverage while giving investors access to RiverNorth’s trading strategies and programs that seek to derive value from buying and selling SPAC securities including units, common shares, and warrants,” said Mike Loukas, CEO of TrueMark Investments, which will act as Adviser to the Fund.

“RiverNorth has deep experience running SPAC strategies and we recognize that the value of a SPAC is often before it goes through a merger with a private business, the so-called de-SPAC transaction,” said Patrick Galley, Portfolio Manager for SPCZ and CEO/CIO of RiverNorth. RiverNorth is the Fund’s Sub-Adviser, with day-to-day portfolio management responsibility. “We are excited to bring this active strategy to market in a liquid ETF format.”

The Fund invests primarily in pre-merger SPACs that are either seeking a target for a combination or have not yet completed a combination with an identified target. Pre-merger SPACs often have predetermined time frames within which to consummate a combination (typically two years) at which time the SPAC will seek to extend the time frame or liquidate. The Fund aims to capture the potential discount, equity upside, and interest income of pre-merger SPACs. A goal of the Fund is to achieve positive absolute rates of return, particularly when measured against the level of risk assumed. The Fund can be utilized in the alternatives allocation in a portfolio in an effort to capture alpha with low correlation to traditional asset classes.

The Fund employs leverage opportunistically based on valuations. SPCZ seeks to increase leverage as shares trade below trust value and reduce leverage as shares trade above trust value. The investment team pays particular attention to the terms and valuation of new issuers vs. the terms and conditions of deals already trading in the secondary market; the portfolio is adjusted for the best opportunities.

Business

Launch of SGX Nifty Trade at GIFT City by Hon’ble PM is a welcoming step – Mr. Ashish Desai, Chair Gujarat Chapter, PHDCCI

Jul 13, 2022 by Rekha Nair 0 Comments

“Launch of SGX Nifty Trade at GIFT City by Hon’ble PM is a welcoming step because of timing, foreign investors usually get an edge because Singapore opens first. SGX Nifty Futures will trade in the GIFT city for about 19 hours a day. SGX Nifty which is a derivative of the Indian Nifty index pulls in 80 percent more volume than the local index futures. So bringing that volume to India by bringing the SGX Nifty to the GIFT city is a fantastic move to bring in foreign capital to India. trading on Gift City would benefit foreign investors who can enjoy a minimum alternate tax (MAT) of 9 percent and exemptions concerning stamp duty and tax” by Mr. Ashish Desai, Chair Gujarat Chapter, PHDCCI.

Business

Piaggio Vehicles Introduces Apé NXT+, The Mileage Ka Raja

Jul 13, 2022 by Rekha Nair 0 Comments

Pune,  July 2022: Piaggio Vehicles Pvt Ltd (PVPL), a 100 % subsidiary of the Italian Piaggio Group and India’s leading manufacturer of small commercial vehicles today launched an innovative new product in the Passenger Segment – the all new Apé NXT+

The Apé NXT+ is a high mileage three-wheeler giving an Industry Best Fuel Efficiency of upto 50km/KG for the CNG version. The indigenously researched and developed vehicle is equipped with very stylish aesthetic elements which provide it a contemporary and refreshed looks compared to other brand offerings in the industry.

In addition to its unmatched mileage, it also comes equipped with the Segment First Tubeless Tyres, an attractive front fascia with bezel for headlamps, beige colored dashboard and dual tone seats and a newly designed canopy with transparent windows for enhanced visibility and looks. It also has stylish decals on the sides to add a dash of glamour to the product.

The Apé NXT+ provides Best in class space with the capability to perform on any road conditions. It sports a 3-valve engine, which gives high power and pick up along with smooth drivable experience. The Apé NXT+ is the product of next generation for urban Indian last mile mobility solution and offers substantial acquisition cost benefits along with best in market cost of ownership.

Piaggio is the only fuel agonistic three-wheeler brand in India with a product portfolio in Petrol, Diesel, CNG, LPG and Electric for both cargo and passenger segment.

Speaking on the occasion, Mr. Diego Graffi, Chairman & MD, Piaggio India Pvt. Ltd. said, “At Piaggio, we are thrilled to launch another three-wheeler passenger vehicle with CNG, LPG and Petrol fuel variants. The rising demand of alternate fuel options and the need to control pollution is giving an impetus to CNG powered vehicles. The Government of India is taking path breaking steps to promote alternate fuel options, which in turn is also helping OEMs like us to innovate with our product portfolio to cater to larger customers. The new Apé NXT+ is designed and developed in India for the Indian market and will also be exported to markets overseas. With the launch of this Apé NXT+ we aim to further strengthen our position in the alternate fuel segment space.”

Mr. Saju Nair, EVP and Head Domestic Business CV (ICE) & Retail Finance, Piaggio India Pvt Ltd. said, “Piaggio is proud to include Apé NXT+ to its diverse fleet of three-wheeler cargo and passenger vehicles. The Apé NXT+ has been developed after thorough research and extensive customer feedback. With the increase in the fuel costs, we understood our customers’ need for higher mileage with cost saving approach and, therefore, Apé NXT+ was born. This new Apé provides the highest in class fuel efficiency, higher comfort, and more space with minimal maintenance costs. Apé’ NXT + comes with contemporary design elements which makes it the most stylish product on offer. The 3-valve technology engine is designed for powerful pickup and exceptional driving experience. We certainly believe that with the CNG network increasing in many cities in India, the Apé NXT+ will help us deliver that extra value to the customers who have been looking for a new CNG product in the market.”

The Apé NXT+ comes at an attractive introductory Ex-showroom pricing of Rs. 2,35,811 onwards for the CNG variant and is available at all Piaggio Authorized dealerships across India.

Technology

Plastics to H2 & Syngas: Hydrogen Utopia Completes 1st Design Phase

Jul 13, 2022 by Rekha Nair 0 Comments

HUI’s Chemical Conversion Chamber has completed the first design phase that will convert waste plastic into synthesis gas:

Hydrogen Utopia International Plc (HUI), a company pioneering non-recyclable waste plastics to hydrogen technology, continues to illustrate the transformative power of engineering and technology. Indeed, in just the past two weeks the company has moved to accelerate this transformation.

Firstly, with the announcement of a testing programme for the conversion of waste plastic to hydrogen, and the latest, the completion of the basic design of the Chemical Conversion Chamber by Electron and its subcontractor, Vicoma. The implication of these developments is that after a full design review, the design and manufacture of a total system is then in sight.

The fact that Hydrogen Utopia has made such swift progress, so soon after its stock market listing at the start of this year, underlines determination on the part of the management of the company. It also reminds us of the urgent need for a breakthrough in the renewable energy space, following the cost of living crisis, and the Ukraine invasion, against a backdrop of climate change and environmental damage.

It was, of course, the case that the starting point for Hydrogen Utopia was to deliver a cheap source of what can be regarded as a “wonder fuel” Hydrogen. But as 2022 has progressed the syngas from the pyrolysis process the Hydrogen will be derived from, is currently a very sought after commodity.

With no end in sight to gas price rises – set to rise 64% by the autumn, the attraction of a source of gas, which is fixed in price, and at a significantly cheap level, cannot be highlighted enough.

Therefore, it is evident with what Hydrogen Utopia has already achieved, we have a company which is at the zeitgeist of the renewable energy space. As well as the promise of driving the Hydrogen Economy, we have one that could address current, severe energy issues, and do it without a negative carbon impact.

Technology

Three Simple Tips from Check Point Software to Prevent Risks Associated with SIM Swapping

Jul 13, 2022 by Rekha Nair 0 Comments

New Delhi, July 2022 – Cyberattacks that can steal personal data are on the rise, as are attacks on organisations through ransomware or malicious emails. Here in India, our Check Point Threat Intelligence Report states that an organization in India is being attacked on average 1783 times per week in the last 6 months, compared to 1645 attacks per organization in APAC, with 89% of the malicious files in India delivered via Email in the last 30 days.

Phishing is set to rise in India with the Indian Computer Emergency Response Team (CERT-In) reporting that the total number of phishing incidents in India has increased from 280 in 2020 to 523 in 2021, with the total number of ransomware attacks increasing from 54 in 2020 to 132 in 2021.

While most people are aware of phishing attacks, very few are alert to the dangers of so-called SIM swapping, whereby cybercriminals get hold of a duplicate of a victim’s mobile SIM card. With a duplicate SIM, they can then circumvent the two-step verification process that protects services like your banking app. The problem is so severe that the FBI issued a warning about SIM swapping and in light of this, Check Point® Software Technologies Ltd. (NASDAQ: CHKP), a leading provider of cybersecurity solutions globally, has put together three simple tips to avoid becoming a victim.

What is SIM swapping? 

SIM swapping happens when a cybercriminal obtains a duplicate of your SIM card. However, in order to do this, they need access to your personal data such as ID, phone number and full name, which they can get hold of using phishing techniques. Then they can simply contact your mobile operator and impersonate you over the phone or internet or even by visiting a physical store.

Once the duplicate SIM has been obtained, the cybercriminal only has to insert the card into a device to access all the information and data of the victim’s account including call logs and message history. From that point on, s/he has complete control and it is easy to access your banking app and steal your money by moving it to another account. Although this would mean using a verification code, don’t forget the attacker has access to your mobile line, so all they have to do is copy and paste the code that was intended for you.

How to stay safe: 

Be careful with personal data: this is the information that cybercriminals need to duplicate your SIM. This is why it’s so important to be careful about the websites you visit. Make sure the site in question is official and that it has all the various security measures in place, such as an encrypted connection. Look out for the padlock symbol in the address bar, which shows that it has a valid security certificate, and that the URL begins with httpS://, if it does not include the final -S://, it could be a risky page.

Be aware of phishing: you need to know the tell-tale signs of a phishing attack to prevent them from gaining access to your personal data. Look out for emails and text messages with spelling mistakes even if you know the sender. Pay close attention to the domain name to make sure it’s genuine. The same applies to strange looking links or attachments. Often, these types of details are signs of a phishing attack.
Look out for loss of signal: one easy and sure-fire way to find out that there is a duplicate SIM card, is that you will completely lose your mobile signal. This is because you will now have a phone with a SIM card that has no access to a mobile network. As a result, you will no longer be able to make or receive calls and texts. If this happens, you need to contact the authorities and your mobile operator so that they can deactivate the SIM and start the process of recovering your data.

“Cybercriminals are always looking for new ways to steal your data to achieve their goals. It’s important that people are able to spot the signs of an attack. If you’re not aware of these tell-tale clues, you’re putting yourself at higher risk and are more likely to suffer more serious consequences. This could mean having your bank account emptied or you could fall victim to identity theft which would enable the criminal to buy goods and services over the internet in your name,” warns Sundar Balasubramanian, Managing Director, India & SAARC, Check Point Software Technologies.

Business

Lexar Aims to Expand the brand Pan India via Creative Newtech

Jul 13, 2022 by Rekha Nair 0 Comments

New Delhi, July 2022: With more than 25 years of experience in the sector, Lexar is a top global brand of flash memory products. For making goods that are faster and more durable, Lexar is renowned throughout the world. Whether taking pictures or recording videos, Lexar memory solutions provide the best performance and dependability. Lexar has now officially selected Creative Newtech as its Indian Distributor with the goal of offering flash memory solutions to any tech enthusiast.

Established in 1992, Creative Newtech is a globally recognized distributor of cutting-edge products in the IT, imaging, lifestyle, and retail security industries. With a strong presence in the IT industry, Creative Newstech is a perfect partner for Lexar to expand its reach pan India, as the demand for SSD cards and flash memory solutions is increasing regularly.

Commenting on the development, Mr. Gaurav Mathur, Director of Lexar said, “In order for consumers to have a better experience and to experience greater performance, Lexar strives to satisfy all of their demands and requirements. Now that Creative Newtech has joined forces with us, a company with a significant presence in the tech distribution sector, we anticipate having access to a far wider choice of items for our brand by expanding our operations into smaller cities and towns in the Indian market.”

Reflecting the same, Mr. Ketan Patel, Chairman of Creative Newtech gladly quoted, “It’s a pleasure to join a business whose top objective is giving the client the finest experience as a family. We are happy to be collaborating with Lexar, and we intend to work even more to increase the company’s market share.”

Lexar is a global brand with the aim of manufacturing the best products to make consumers’ tech experience even better than before. By collaborating with Creative Newtech, the chances of Lexar making its mark in the industry will rise perpetually.

Business

Kirloskar and CNN embark on the 14th year of partnership with a renewed focus on sustainability and green issues

Jul 13, 2022 by Rekha Nair 0 Comments

Building on continuous success over the last 14 years, Kirloskar, India’s leading multi-engineering conglomerate, is again partnering with CNN International Commercial (CNNIC) to sponsor CNN’s ‘Going Green’ as part of a campaign that highlights a strong commitment towards a greener future.

The long-standing partnership centres around Kirloskar being the exclusive sponsor of ‘Going Green’, a show that explores green technology solutions for a sustainable future. The campaign has, through the years, reached over 700 million environmentally conscious viewers and more than 270 million business decision-makers around the globe to create awareness around sustainability and green innovations.*

This year’s advertising and sponsorship campaign with Kirloskar includes two ‘Going Green’ shows which will air on CNN International in July and November with a focus on green innovations and changemakers who are finding solutions to some of our biggest environmental challenges. In addition, Kirloskar is also sponsoring a range of digital content focused on the green agenda available across CNN’s digital and social platforms.

Rob Bradley, Senior Vice President, CNN International Commercial, said “Sustainability is a key priority for us, and CNN’s powerful journalism has been illustrating as well as empowering green initiatives for over four decades. We are delighted to reaffirm our long-standing partnership with Kirloskar to engage global audiences to inspire action towards a sustainable future. Going Green is an enduring initiative that we at CNN are truly proud of and it is our pleasure to partner with Kirloskar, which has a long-standing commitment to sustainability and protecting our planet for the future.”

Madhav Chandrachud, President, Kirloskar Proprietary Limited, said “Kirloskar has been instrumental in driving conversations around an eco-conscious lifestyle since the beginning. In CNN, as our partner of 14 years, we have found a global media leader that upholds the same values as Kirloskar, which is a demonstration of our commitment to remain aligned with compelling stories that enable people to visualize the sustainability revolution.”

As the leaders of tomorrow take their place today, CNN highlights young Gen Z heroes and their green ideas in the July episode of ‘Going Green’.

Business World

Amazing Monsoon Season Offers at the Pride Hotels

Jul 13, 2022 by Rekha Nair 0 Comments

Monsoon is a season that requires no introduction. Be it the nostalgia you get into hearing your favorite songs or the special “Adrak wali chai” or the ever delicious “Pakora” which are relished in these days.

Pride Group Of Hotels takes you to a fun spin with each of these experiences and more at their choicest destinations Pan India. It’s indeed pouring offers at the Pride Hotels. Enjoy a 25% off* on your stays with special offers on food, soft beverages and laundry. *T&C

The offer is valid for bookings until 31st July, 2022 while the room stays are valid until 30th September, 2022

Announcing the development, Atul Upadhyay, Senior Vice President, Pride Group of Hotels said, “The season has it’s own charm. While one can get over stressed work wise but surely enjoy the mist and cool nostalgia that the Monsoon brings alongside. We’ve introduced this package to ensure all in the family enjoy the rains to the maximum”.

Pride Hotels has a presence in around 44 great locations with 4,400 rooms, 89 restaurants, 116 banquets, and conference halls. Currently, Pride Hotels Ltd operates and manages a chain of hotels under the brand name “Pride Plaza Hotel” an Indian Luxury Collection, “Pride Hotel” which are conveniently centrally located business hotels, “Pride Resorts” at mesmerizing destinations, Mid-Market segment hotels for every business “Pride Biznotels” and a fresh concept of Premium luxury serviced apartment stays “Pride Suites”. Locations are prominently in New Delhi, Kolkata, Ahmedabad, Pune, Nagpur, Bangalore, Chennai, Rajkot, Goa, Jaipur, Indore, Udaipur, Bharatpur, Mussoorie, Puri, Gangtok, Anand, Alkapuri, and Manjusar (Vadodara), Sasan Gir and Somnath. Upcoming locations are Nainital, Jim Corbett, Jabalpur, Daman, Rishikesh, Aatapi, Surendranagar, Dwaraka, Bhavnagar, Bharuch, Agra, Dehradun, Chandigarh, Neemrana, Rajkot, Bhopal, Haldwani, Gurugram and Aurangabad.

Education

IIM Shillong enters into an MoU with Spain based EADA Business School…

Jul 13, 2022 by Rekha Nair 0 Comments

July 2022, Shillong: IIM Shillong and EADA Business School signed an agreement on 11th July, 2022 at Barcelona, Spain by which the two institutions formalized the commitment to permit the exchange of scholars, professional staff members, students, and academic information between the two institutions.

The collaboration will benefit both current and future IIM Shillong students by facilitating international exposure, particularly for PGP and PGPEx students, and will encourage cooperation between the two institutions for academic advancement and innovations.

Prof. D.P. Goyal, Director, IIM Shillong said, “This collaboration intends to create a programme for academic cooperation and exchange in both education and research. The two institutions will promote student, professor, and researcher exchange, exchange of information, techniques, and engage in collaborative research.”

Prof. Goyal further said “It is an extreme pleasure to be partnering with EADA as IIM Shillong is committed to nurture cutting-edge knowledge, accelerate innovation and groom leaders in values and purpose to impact a dynamic world. We look forward to bring out the “best-in-class” pool of talent of current and prospective students of IIM Shillong, for the good of the whole country and the goal of a self-sufficient nation.”

EADA Business School is ranked 62nd in the world by The Economist, 20th in Europe, and 29th among the Best Business Schools in Europe. EQUIS and AMBA both accredit EADA Business Schools. The EADA Global Campus with its 4 campuses provides 16,700 m2 of facilities for training, meetings, study, events, and outdoor training to make sure that the participants and their community’s experiences are complete.