Category: Business World

Business World

Businesses Challenging the Tides by acquiring more of Shared Spaces

Aug 4, 2020 by Gouri Achary 0 Comments #Asia-Pacific (APAC) market, #CBRE report, #concept of shared office spaces, #Flipspaces, #MyBranch, #Qdesq

Shared office spaces have become quite popular in India in the last 5 years. Its massive growth has disrupted the conventional work environment and helped India to get on a modern track.

Steady economic development and burgeoning startup community in India is driving the flexible workspace industry. In the Asia-Pacific (APAC) market, India has the 2nd largest flexible workspace market, second only to China. CBRE report has found out that in the last 4 years, US$3 billion has been infused in the shared office space market, making it one of the fastest growing emerging markets.

The concept of shared office spaces is catching up in metros and now in tier II and tier III cities in India.

There are multiple ways in which this pandemic has changed the way we work. One of the major transformations would be, with more people working remotely companies will plan to open regional hubs or provide access to co-working/shared office spaces wherever their workers are concentrated rather than have the majority of their workforce at one central office.

Few of the popular startups who are helping businesses to smoothly open their new offices or provide shared spaces are listed below.

1.    MyBranch:  Searching for the right office space can cause a lot of stress. In a bid to resolve this conundrum, The company helps you to have local sales and virtual office space in your preferred location in 25+ cities across India. This envisages to provie you Instant Business Presence and Expansion across PAN India with Best-in-Class Offerings – Sales Office Spaces, Managed Services, Virtual Office And Meeting, Conference, Training Rooms. The company incepted in the year 2016 as a business unit within the prestigious Narayan Bhargava Group that has been serving the BFSI sector for over 20 years.

2.   Qdesq: A coworking aggregator Qdesq, founded in November 2015, is a premier destination that offers a tech-enabled platform for the workforce to search and book flexible workspaces. Offering an easy, effective, and brokerage free solution, the company serves as a true marketplace to make an informed choice for workspace seekers. Whether it is co-working spaces, shared workspaces, managed workplaces, virtual offices, or individual offices, Qdesq offers them all.

3.   Flipspaces: Founded in July 2015, Flipspaces is a tech-enabled venture in interior design, products, and projects for commercial spaces. Flipspaces follows a differentiated approach through its tech-suite which creates efficiency and enhances the customer experience in every step of their interior design and build journey. Flipspaces was co-founded by IIT alumni, Kunal Sharma and Ankur Mucchal, both serial entrepreneurs with a history of build, scale, and exit.

Business World

9Stacks conducts the Biggest Poker Promotion “Godzilla” worth INR 1 Cr in July 2020

Aug 4, 2020 by Gouri Achary 0 Comments #9Stacks, #a 30 days long Leaderboard promotion, #CEO & Co-Founder, #Godzilla contest from 1st July till 31st July 2020, #Sudhir Kamath

9Stacks, India’s fastest growing poker platform conducted a 30 days long Leaderboard promotion as Godzilla contest from 1st July till 31st July 2020. The players won the leaderboard prizes just by playing  50/100 and 100/200 stakes (Holdem and Omaha).

The players got a chance to win from Multiple rewards from cash leaderboard along with daily and weekly rewards. Players won from Mega Leaderboard and Mini Leaderboard.  The individual winner of Mega Leaderboard won 6 Lacs while the winners of Four Mini Leaderboards won 2 Lacs each.

Sudhir Kamath, CEO & Co-Founder, 9Stacks says, “This has been the first time when we conducted the giveaways of such a large amount in a single month, and probably the highest in the overall gaming industry. The promotion was a big hit and has seen overwhelming response amongst the players. July promotion increased the engagement levels on the platform and we plan to bring similar promotions in the future as well. Our aim is to ensure that the players enjoy their time while they are on the platform and winning huge amounts of money is like an added bonus.”

9Stacks is an online poker platform where users can learn and play the game online and also earn money. It currently offers its online poker gaming services in 24 Indian states. Apart from poker, it also offers fantasy league and quiz contests under the brand name Faboom. With creativity and innovative technologies, 9Stacks leverages many positive trends in the gaming industry and consistently focuses on delivering engaging and entertaining opportunities for its audience over the long-term.

The platform currently has more than 3.25L users across India and has witnessed a 350% increase in user-base in 2019. The platform currently offers Texas and Omaha variants of poker that engage both experienced players and learners.

Business World

Children with special needs getting left behind during COVID 19

Aug 4, 2020 by Gouri Achary 0 Comments #Children with special needs, #Dr. Garima Vegivada

Ten-year-old Madhav (name changed), attends school but is non-verbal. He used to spend his days learning from a special education teacher, interacting with peers and working with speech, physical and occupational therapists. The 10-year-old’s moods worsened and his distractions only grew by the days after his school shut in March due to the coronavirus outbreak. This behaviour of his perturbed the family and they were worried to no end. Though Madhav eventually calmed down after a few weeks, the family was at wit’s end to make sense of his erratic behaviour. A lot of kids with disabilities find comfort in routine when that routine gets disrupted, their anxiety goes up and tend to behave differently.

The pandemic disrupted the lives of children across the board, but it caused immense stress for those with disabilities, especially the hearing and speech impaired and children with Autism and other sensory processing disorders. Parents and child experts alike are definitely worried about their emotional state in these intense times, compounding the concern is the impact of lack of in-person instruction on children with special needs in the long run. These Special Children have unique needs and deserve greater personal attention, continuous engagement and more consistent care. Extraordinary situations like the current one leading to the closure of schools and non-emergency therapies, result in loss of skills the special kids assiduously acquired over a period of time. Lack of daily therapies in such children actually leads to overall backsliding. Since these kids need full-time care and they not going back to their routine at the earliest impacts the family’s social and financial fortunes, with several being working parents busy with their daily routines while struggling to make ends meet.

However, telerehabilitation widely practised abroad can retrieve the situation and provide the much-needed solace to such children and their parents. It’s not been popular in our country due to lack of or poor tele-connectivity, but with COVID 19, we along with the world have seamlessly moved online and telerehabilitation becomes a real possibility. This enables not just the children in cities but even those in the remotest part to access and benefit from the therapies.

Tele-practice is backed by over 40 years of research, officially approved by ASHA (American Speech and Language Association) in 2005, and more than 27 studies and articles show it is as effective as in-person therapy. It may not be suitable for every child or adult, but the majority of the special needs persons can benefit. Tele-practice, also known as “online speech therapy” involves video conferencing, interactive activities, assessments, progress tracking. Keeping child’s interest in mind, systematic plans are discussed with parents before the session and children are encouraged to perform activities using toys and household items which are easily available at home and more, through a private and secure virtual classroom. The patient gets the therapy right at his home from a certified therapist over the Internet.

Eight-year-old Viren, who was a regular for one to one session at a therapy clinic, had an abrupt disruption due to lockdown. As he started showing severe behavioural changes, his parents explored options, to their delight they hit upon the online speech therapy. By then a handful of trained Hearing and speech therapists adept at tele-practice started offering the highly skilful service. Initially, his parents were apprehensive about the quality and the child’s attention span for it. But therapist specially trained for online therapy made his sessions so interesting and engaging that the child hasn’t missed even a single session since then. Because the therapy is being rendered in the precincts of their home, the entire family got involved and the child has shown enormous improvement. The parents too are immensely relieved, as they are spared of regular long commutes to the clinic involving time and effort. This need of the hour treatment option, however, needs greater awareness for more and more children and parents in distress and those in the remote areas with no access to such therapies, to benefit.

Dr. Garima Vegivada

Clinical Director- Speech-Language Pathology,

Hear ‘N’ Say Clinic, Secunderabad. 

Business World

Precautions Pregnant Women Need to Take In Unlock Phase, By Dr Pratima Thamke, Consultant Obstetrician & Gynaecologist, Motherhood Hospital, Kharghar

Aug 4, 2020 by Gouri Achary 0 Comments #Consultant Obstetrician & Gynaecologist, #COVID-19, #Dr Pratima Thamke, #Kharghar, #Motherhood Hospital, #Precautions Pregnant Women Need to Take In Unlock Phase

Are you pregnant? Then, don’t worry! We brief you about the precautions you need to take + how to opt for a safer delivery.

In the challenging times of COVID-19, pregnant women need to be extra cautious during the unlock phase. This is so because the immune system’s efficacy dips during pregnancy, which places pregnant women at a higher risk of contracting many transmissible illnesses, whether food-borne or respiratory. 

The Novel Coronavirus spreads through respiratory droplets sent into the air when a person who has COVID-19 coughs or sneezes. It may also spread when someone touches a surface infected by a person who has the virus. One reason to worry about COVID-19 during pregnancy is that women are prone to become severely ill with flu. This is because pregnancy suppresses the immune system. 

Here we list out a few measures that pregnant women will have to followCOVID-19 

∙         Avoid going out unless it is very essential. In case you are likely to be out for some time, carry your own water bottle and snacks.

∙           Ensure that you wear a mask and encourage others also to do the same. Do not touch your eyes, nose, or mouth without cleaning your hands. Cover your mouth while coughing and sneezing.  See to it that you do not come in contact with people who are sick.

∙         Avoid using public transport. It’s best to use your own vehicles. 

∙         Though, there are few relaxations you must avoid handshakes and hugs. Use hand sanitizer if you touch someone or something like side rails, lift buttons, work desks, poles, and other’s mobile.

∙         Avoid using public washrooms in case you happen to venture out of the house.

∙         Follow social distancing in lifts. If stairs have been used, use sanitizer immediately after touching side rails. 

∙         Always stay in a ventilated place with good air circulation. Ensure doors and windows are kept open. 

∙         Build a strong immune system by including fresh fruits and vegetables in your diet. Avoid processed, junk, and oily food.

∙         Once you are back home, wash your hands and change your clothes to fresh ones. Do not stay out for a long time.

∙          Avoid calling visitors at home- if unavoidable, follow strict hand hygiene.  Do not touch any items brought from outside before they are thoroughly cleaned. 

∙         Seek medical care if you live in highly-affected or at-risk areas and have fever, cough or difficulty breathing.

∙         Mothers should wear a mask when feeding their baby; wash hands before and after touching the baby, and routinely clean and disinfect surfaces. Continue to hold the newborn and perform skin-to-skin care.

∙         Ask the doctor about the safe birth plan in place to reduce anxiety and to ensure they get to the place on time. Continue medical support, including routine immunizations, after the baby is born.

∙         Do things that make you happy and put your mind at ease. Take all the precautions mentioned above and do not stress too much if your due date is nearing, as hospitals have a system in place for safe deliveries and to ensure minimal risk of exposure for newborns.

Business World

EKKI Pumps becomes a Case Study at Prestigious INSEAD B-School

Aug 4, 2020 by Gouri Achary 0 Comments #“Sustainability in Asia”, #Co-CEO Kanishka Arumugam, #Professor of Entrepreneurship and Family Enterprise, #Pumps and Water Technology provider EKKI, #Stephen J. Mezias

Chennai 4 August 2020: Pumps and Water Technology provider EKKI has now become a part of the MBA curriculum at INSEAD Business School, which is rated consistently one among the world’s top 3 Business Schools. The study has been included in the MBA reading list for the subject “Social Entrepreneurship and Innovation”

INSEAD has created a case study on the challenges, growth and transformation journey of EKKI. The case study narrates the reinvention of EKKI beginning in 2013 and covers how EKKI transformed itself into a sustainable water technology provider from DECCAN Pumps starting in 1981 with a deep commitment to quality, sustainability and value delivery to its customers and members.

The case study titled “Sustainability in Asia” is authored by Professors Stephen J. Mezias (INSEAD), Indira Pant (National University of Singapore) & Rikki Abzug, (Ramapo College of New Jersey). The study will be available for teaching purposes within and outside the INSEAD community.

Sharing his thoughts, Stephen J. Mezias, Professor of Entrepreneurship and Family Enterprise at INSEAD, said,-“In our case study Sustainability in Asia, we interviewed the leaders of six successful medium-sized family firms based in South East Asia about their efforts to make their organizations more sustainable. EKKI, which was the only firm based in India in our study, was archetypical: with generational change, external orientation, and a focus on innovation to help the community being key factors driving them towards sustainability. 

He further goes on to say-“Their mission, to become the leading provider of sustainable water solutions, in India and globally emphasized the kind of fundamental societal change that all of the firms pursued.  Coming from India, their emphasis on becoming an emerging market champion represented a goal not only for themselves but also for the nation.”

Commenting on the company’s Sustainable Water Solutions focus, EKKI’s Co-CEO Kanishka Arumugam, said,-“We are privileged and honoured that EKKI has made it to the MBA Curriculum of INSEAD which is ranked consistently as one among the world’s top 3 Business Schools. Global warming and population growth have led to a massive increase in the use of water. Nearly 1.2 billion people on the planet do not have access to potable water and an estimated 2 million people die each year due to unsafe drinking water and inadequate sanitation. It is estimated that nearly half the world’s population will face severe water crisis by 2035. Global Pandemic caused by water pollution is also a big risk for humanity.”

He further added- “Despite this, ‘Water is one of the least technologically influenced industries, so it holds big opportunities for EKKI.’ From office towers to factories to homes and agriculture, the need for clean water has never been greater. “The future wave is water sustainability, and EKKI will be part of it. At EKKI we believe our businesses should add value and also be a force for good. EKKI’s goal is to ‘Provide access to Clean Water using cutting edge technologies and sustainable ways’. This has been our fundamental purpose since 1981.”

INSEAD’s case collection has garnered praise for its remarkable intellectual richness and global diversity, providing robust insights that blend both theory and practice from many different countries and cultures. INSEAD cases not only stimulate class discussion by presenting crucial management issues, but they also challenge students to learn how to make better strategic decisions and become stronger leaders.

Business World

Comic-Con India concludes the Digital edition of Pop Culture Forum 2020, presented by Maruti Suzuki Arena

Aug 4, 2020 by Gouri Achary 0 Comments #Asvin Srivatsangam and Vivek Rangachari, #Comic Con India, #Comic-Con India Pop Culture Forum 2020, #Founder, #Ishaan Arya -Co-Founder of The E-Sports Club and Soham Thacker- founder, #Jatin Varma, #The Business Of Pop Culture In Times Of COVID, #the founding team of Yali Dream Works

Comic Con India successfully rounds off the digital edition of the  ‘Pop Culture Forum 2020’ presented by Maruti Suzuki Arena. The event took place from 27th to 28th July 2020 exclusively on CCI Social Channels. 

Although hosted as an invite-only live event till now – with the pandemic out there, the situation has provided Comic Con India with an opportunity to host the forum digitally and bring to the audience all the panels, featuring some of the best talents in the pop culture industry.

The one-of-its-kind conference in India. Pop Culture Forum was an astounding view of the burgeoning pop culture industry in the country, featuring panels & talks from key industry players along with the Comic-Con India Industry Awards, recognizing the best in Comics & Pop Culture in the country. The forum witnessed interesting panels on Journey of a Cosplayer with Sameer Bundela, the reigning Indian Champion Of Cosplay; Bringing Comics to life with Asvin Srivatsangam and Vivek Rangachari, the founding team of Yali Dream Works; Celebrating 40 years of Tinkle Magazine; The Business Of Pop Culture In Times Of COVID and E-Sports in India. 

Jatin Varma, Founder, Comic Con India commented, “It was a delight to witness the key stakeholders of the Indian Pop Culture industry coming together to celebrate the country’s biggest pop-culture extravaganza.  There are many elements to the Comic-Con Experience that can truly go digital and we are glad to have started off this year with the digital event. With people spending a lot more time online – I foresee a lot of interest. You shall also see us creating original content in the coming months.”

The first panel of the Comic-Con India Pop Culture Forum 2020 “The Journey of a Cosplayer” with Sameer Bundela, took the audience through his journey as a cosplayer. Cos-Play or Costume Play is an art form and Sameer Bundela who has been cosplaying since 2011, started off as an amateur cosplayer and then over the years turned pro. He has won the Indian Championship of Cosplay twice and is the current reigning champion. He recently represented India at the Crown Championship of Cosplay in Chicago.

During the second panel on Bringing Comics to Life, with Asvin Srivatsangam and Vivek Rangachari, the founding team of Yali Dream Works, there was a discussion around how Comic book stories and characters have long abandoned the physical book form and are now part of Films, Television, Gaming and more, internationally. The panellists talked about their upcoming comic book to feature film, Rakshak, which is being helmed by leading film director Sanjay Gupta (Kaante, Shootout Series & more).

The forum also celebrated 40 years of the Tinkle Magazine this year with Rajani Thindiath, editor in chief at Tinkle Magazine and Savio Mascarenhas – Group Art Director at ACK Media.

Another intriguing panel was on The Business Of Pop Culture In Times Of COVID with 2 of the biggest names in licensed merchandise business in India – Ameya Thakur, Founder, Redwolf – one of the leading licensed apparel brands in the Pop Culture Industry and Siddharth Sood – Founder& CEO at Epic Stuff – the leading brand for all your pop culture accessories. The panel touched upon the new challenges and opportunities that have arisen for the pop culture business during the times of COVID.

The concluding panel discussion was on E-sports in India with Ishaan Arya -Co-Founder of The E-Sports Club and Soham Thacker- founder, Gamerji.

The forum also featured the Comic-Con India Industry and Creative Awards that honoured & provided recognition to the best of the comics & graphic arts community in the country. This year’s awards featured a total of 9 Categories, include 2 Business categories. While the Graphic Novel Comic Book Category was open to nominations with over 25 nominees from various publishers and creators across the country. 

Chanakya: Of Serpents & Kings By Campfire Graphic Novels won the Gold in The Best Graphic Novel Of The Year & Tinkle Holiday Special No.48, won the Gold in The Best Children’s Illustrated Book Of The Year.

In the Business categories, the nominees and winners were selected based on the Independent consumer research conducted with thousands of fans across India, at various CCI shows & events. 

Business World

Loom Solar to go on sale on Amazon during Prime Day

Aug 4, 2020 by Gouri Achary 0 Comments #Co-founder & Director of Loom Solar, #India’s no. 1 solar panel company, #Loom Solar, #Mr. Amol Anand, #Prime Day of Amazon on 6th & 7 August 2020.

 Loom Solar, India’s no. 1 solar panel company will be selling its products at a 6% discount on the occasion of Prime Day of Amazon on 6th & 7 August 2020. Loom solar is the only company in India that makes mono panels using perk cells in 12-volt design.

During the sale period, Amazon customers can take their pick from several products in the portfolio and avail discounts up-to 6%. This year’s Prime Day sale is dedicated to helping small and medium businesses reach millions of Prime members around the country. Loom Solar is taking this initiative to reach its customers and inform them about the benefits of the monocrystalline solar panel over the existing technologies, and eventually, the customers have always appreciated Loom Solar’s work and innovation.

Mr. Amol Anand, Co-founder & Director of Loom Solar says, “Amazon’s prime day sale provides us with an opportunity to reach a large number of users together at one platform. During this difficult time, when the economy is slow and people are focused on saving more, we bring the prime customers a unique offer to purchase high-end, advanced technology Solar panels at a lower price. Through this sale, they are not only going to purchase a product on sale, but this will also be an added bonus to their future electricity saving that will reduce a large chunk of their monthly costs. I believe this will help us reach a wider audience”

The products available on sale are:-

1)      Loom Solar Panel 50 Watt -12 volt Mono Crystalline – they are made of A-grade mono perk cells and ultra cleared tempered glasses that do not break easily and gives 22% higher efficiency even in low light and cloudy weather. The additional feature includes 4 busbars, 36 cells and 25 years performance warranty. IP 67 rated junction box is given with MC4 compatible cable connector for higher module efficiency.

2)      Loom Solar Panel 125 Watt -12 volt Mono Crystalline – Loom Solar 125 watt mono panels are made of A-grade mono perk cells that gives higher efficiency even in low light and cloudy weather. The additional feature includes 4 busbars, 36 cells and 25 years performance warranty. IP 67 rated junction box is given with MC4 compatible cable connector for higher module efficiency.

3)      Loom Solar Panel 180 Watt -12 volt Mono Crystalline – Loom Solar 180 watt solar panel is made of A-grade black silicon cells to generate electricity from sun. The cells are made of superior quality silicon which gives higher efficiency up to 20% and also performs better in low light. It is the latest panels in mono crystalline technology that comes with 5 busbars 36 cells and 25 years performance warranty. IP 67 rated junction with MC4 connectors and 1 meter wire is given for outdoor use.

4)      Loom Solar Panel 375 Watt -24 volt Mono PERC – Loom Solar 375 watt solar panel is made of mono perc cells which gives higher efficiency up to 20%. It is the latest technology solar panel in India that works in low light and even in cloudy weather. The cells inside solar panel is made of A-grade, anti pid cells. It is the best solar panels in mono crystalline technology that comes with 5 busbars and 72 cells and 25 years performance warranty. IP 67 rated junction box is given with MC4 connector for higher module efficiency.

Availability – https://www.amazon.in/primeday

Loom Solar recently introduced Monocrystalline Solar Panels to differentiate itself in the Indian market and establish a lead. The monocrystalline solar panel is the latest technology in the solar industry with higher efficiency and is also very compact. This technology is used by only 2% of brands across the globe. The main advantage of this technology is that it generates power in cloudy weather, also under low sunlight, and the efficiency of power generation is more than 20% of old technology.

Business World

JSPL Felicitates its COVID-19 warriors

Aug 4, 2020 by Gouri Achary 0 Comments #Chairman Shri Naveen Jindal, #JSPL, #outstanding COVID-19 Warriors

JSPL, being an employee-first organisation, today felicitated twenty-five of its outstanding COVID-19 Warriors, who worked round the clock to see that every infected JSPL employee was back in the best of health in the shortest possible time. The group of these twenty-five outstanding employees included doctors, admin staff, drivers, cooks, security guards etc.

After felicitating these Corona warriors, Chairman Shri Naveen Jindal said: “We may be living in a challenging era, but we believe in putting our employees at the core of our operations, and doing everything possible so that they remain in their best of health. Today’s felicitation is a tribute to the hard work and dedication of these brave JSPL employees. These employees served their colleagues selflessly and courageously through these difficult times. These outstanding employees will further inspire others, in and outside the organisation”.

India is passing through one of the most challenging periods in its history. JSPL has taken several measures, in keeping with the Government guidelines and WHO protocol, to protect its employees from the virus, and to create a safe workplace. But, as the severity of the crisis shows, there could still be some instances where people get infected by the virus despite taking all possible precautions. Few of the JSPL employees contracted the virus. In this crisis, the rest of the JSPL workforce rose to the occasion and ensured that the infected employees recovered in no time.

JSPL stands with the Union Government and state governments in protecting the lives of its employees and their families, and ensuring their well-being, in the face of the Covid-19 pandemic, while contributing to the India Growth Story.

The JSPL employees felicitated during the occasion are:

1. Rahul Kumar
2. Sanjay Singh
3. Prem Singh.
4. Prakash Chandra.
5. Chander Shekhar.
6. Mukesh Kumar.
7. Naresh Kumar.
8. Rajendra Singh.
9. Pitambar.
10. Mahesh Pandey.
11. Dev Raj.
12. Sunil Kumar.
13. Pramod Kamath.
14. Mohan.
15. Nagender Singh.
16. Ashok Kamat.
17. Basant Malviya.
18. Arvind Kumar
19. Roshan Lal.
20. Neeraj Kumar.
21. Vidya Rani.
22. Dr Kirti Dahiya.
Press Release 23. Dr Gursharan Singh.
24. Dr Dinesh Kumar.
25. Mangal Sain.

Business World

Vietjet positive about the financial recovery with its LCC model despite the loss in the air transportation business in the first half of 2020

Aug 4, 2020 by Gouri Achary 0 Comments #LCC model, #Vietjet Aviation Joint Stock Company (HOSE: VJC), #Vietnamese airlines’ proposal

Vietjet Aviation Joint Stock Company (HOSE: VJC) reported its business result of 2020’s second quarter, the period that saw the most impact by Covid-19 pandemic. The carrier operated a flight network of 52 domestic routes with 14,000 flights and transported more than two million passengers during the quarter. With its proactive measures, cost optimization and LCC model, the airline’s results in the air transportation business and financial activities are considered positive, making it one of the very few airlines in the world to cope well with the Covid-19 pandemic and confident about its financial recovery.

By the end of Q2/2020, amid the Covid-19 pandemic, Vietjet recorded the air transport revenue at VND1,970 billion (approx. US$84.5 million), a decrease of 54% year-on-year, and a loss of VND1,122 billion (approx. US$48 million). For the first six months of the year, the airline’s loss in air transportation business stands at VND2,111 billion (approx. US$90.5 million), which is considered a modest number compared to the total loss of over US$84 billion for the global aviation industry.

To support the cash flow, Vietjet has proactively sought for partners and implemented many financial solutions such as asset transfer and financial investment, which resulted in a financial revenue of VND1,174 billion (approx. US$50.4 million) with a post-tax consolidated profit of VND1,063 billion (approx. US$45.6 million) in Q2/2020 and a consolidated profit of VND73 billion (approx. US$3.2 million) in H1/2020, increasing the financial resource for the airline’s air transport business.

Aiming to become a new-age carrier, Vietjet always steps upon carrying out commercial solutions based on 4.0 technology platform and mobile application development. Thanks to its tech-based cost optimization capacity, the airline has seen effectiveness when following LCC model, which has been proven to be the right choice for the past economic crises. Vietjet has been proactively implementing cost-saving measures with an average cost drop of 55% due to operation capacity reduction of 30%-35% and service cost decrease around 20%-25%.

As Vietnam opened its sky for domestic operation, Vietjet resumed its entire domestic flight network with 300 daily flights in June, a triple to five times growth compared to daily flights at the country’s Covid-19 pandemic peak. The airline also launched eight new routes to meet rising domestic travel demand, increasing its total domestic flight network to 52 routes with an overall flight operated reached 14,000 flights. Its total passenger carriage reached 1.2 million passengers in June, marking a positive recovery for the domestic market.

The airline’s total asset is VND48,392 billion (approx. US$2.075 billion) with the owner’s equity being at VND17,339 billion (approx. US$745 million) including treasury shares. Its current liquidity is kept at a good rate of 1.4 while debt to equity ratio is 0.57, which are among the lowest rates in the global aviation industry. It allows Vietjet to proceed with its long-term financing plan in order to enhance its internal resources for fighting the current pandemic.

Being active on measures to weather Covid-19 pandemic, Vietjet has implemented many solutions since early 2020, including expanding the cargo transportation business, developing SkyBoss product and ancillary services, offering “Power Pass”, the unlimited flight pass, etc. In particular, Vietjet has also worked on many solutions to increase revenue and optimize operations. It has boosted cargo transport service since April, is the first airline in Vietnam to gain the government’s approval to deploy cargo operations in the passenger cabin (CIPC).

Apart from the effort of the airline itself, the support of the Vietnam government is also anticipated to reduce the pressure and boost aviation recovery. Following the Vietnamese airlines’ proposal, the Government and industry authorities are in consideration of aviation support packages, including exemption of taxes, fees, aviation services, environmental tax exemptions for flight fuels, financial assistance, an extension of the payment term, etc. These supports should be urgent and specific amid the tough situation to strengthen domestic carriers’ resources. All over the world, airlines are strongly supported by local governments to recover from the devastating impacts of the pandemic as it is the crucial sector to stimulate economic development.

Business World

Restaurant should have a library to promote reading habit among people: Nila Madhab Panda

Aug 3, 2020 by Neel Achary 0 Comments #Director Nila Madhab Panda, #Odisha Library Academy

Bhubaneswar: Bollywood Film Maker and Director Nila Madhab Panda & Ollywood Actor Chandan Kar joined as speakers in the 12th webinar series of Odisha Library Academy held on 1st August 2020 (Saturday) at 11 a.m on the theme, “Promoting Libraries through Movies.” It’s a rare gathering where Dignitaries, Celebrities, Fans, and Dynamic Library Professionals gathered in one platform.

In this webinar, two celebrity speakers and four panelists had joined. Padma Shree Dr. Nila Madhab Panda who is a unique film Director & Producer and Mr. Chandan Kar who is an actor, philanthropist and IT professional have joined as speakers on this occasion. Prof. Ramesh Chandra Gaur, Indira Gandhi National Centre for the Arts (IGNCA), New Delhi, Dr. Bibhuti Bhusan Sahoo, IIT Bhubaneswar, Dr. Satya Ranjan Sahoo, CSIR-IMMT, Bhubaneswar and Mr. Bijoy Ketan Panda, TCS Bhubaneswar as panelists. Padma Shree Dr. Nila Madhab Panda highlighted changing a traditional library system to become a community center, suggested to initiate small libraries in restaurants, and requested the public to go to the library rather than going to the temple. He finally concludes his speech by giving the commitment to promote the library system by small documentaries in the coming days. Another speaker Mr. Chandan Kar highlighted the importance of libraries in everyone’s life and he also suggested shooting out small content through social media. He expressed his interest in promoting libraries and be a brand ambassador of Libraries in Odisha. In the end, the four panelists discuss to promote libraries and librarians. The webinar ended with a question and answer session.

Odisha Library Academy

OLA President Dr. Banamber Sahoo Chaired and Dr. Bedarata Dash Hota along with Dharitri Mallick organized the event. To host the session technical support was provided by Mr. Niranjan Mohapatra, Mr. Jayanta Kumar Sahu, and Mr. Satyajit Nayak as Webinar System Administrators. More than 400 concurrent participants joined the online session and asked different issues faced by their Libraries and Information Centres for promoting Library services.

Odisha Library Academy

The session ended with vote of thanks by Mr. Bijay Ketan Panda, Joint Secretary of Odisha Library Academy, Dr. Banamber Sahu informed to the media houses that this year Librarian’s Day celebration and 5th Annual meet of Odisha Library Academy will be held on 9th August 2020 through an online and virtual platform.