Infosys Management Scraps Plans to Sell Panaya, Skava

It was among Infosys Ltd’s most ambitious buys that eventually became a bone of contention between founder Narayana Murthy and the then chief executive officer and managing director Vishal Sikka. Infosys then tried to exit the Israeli enterprise software management company after Vishal Sikka was forced out of the company. It has now shelved that exercise.

The company on Friday said it had declassified the provider of automation technology as well as other sell-off candidates as “held for sale”. This includes Kallidus and Skava. It had bought e-commerce services provider Kallidus for $120 million. This gave it access to the holding group behind San Francisco-based Skava, a cloud-based platform provider of online services for retailers. All the acquisitions happened in 2015.

“During the quarter ended December 31, 2018, based on evaluation of proposals received and progress of negotiations with potential buyers, the company concluded it was no longer highly probable that the sale would be consummated by 31 March 2019,” the company said in a statement.

Infosys has been an acquisition-shy company, choosing instead to sit on cash — it conducted its first-ever share buyback in 2017 and announced another one on Friday. Sikka, bubbling with ideas as the company’s first non-founder CEO and a desire to move the traditional bread-and-butter software exporter to a company riding on automation and artificial intelligence, tried to change that. Panaya was a step in that direction — Infosys bought it at an enterprise value of $200 million.

Murthy accused Sikka of not being transparent in the deal, while also charging him of other misdemeanours. An April 13 story by Mint mentioned how the company’s then chief financial officer Rajiv Bansal walked out of a board meeting, protesting against the acquisition.

Later, a generous severance package to Bansal was questioned by shareholders and Murthy. A whistleblower claimed that the acquisition was overvalued and this became the foundation for allegations that the company, under Sikka, had bought out Bansal’s silence. Once Sikka was ousted, the company held back further payments to Bansal. The case went into arbitration and Bansal won.

In the December quarter, the company took a one-off depreciation charge and amortisation expenses of $12 million on its books, which hit its margins. Infosys will now continue to hold companies at a reduced fair value with plans to repurpose Skava’s micro services-based business and refocus Panaya’s suite of products.

Monkey Shoulder Crowned No1 Trending and Bestselling Brand

For the fifth year running, Monkey Shoulder’s commitment to the unconventional has landed the brand the title of ‘World’s Top Trending Scotch’ in the annual Drinks International report, which polls leading figures from the world’s best bars.

The malt whisky, which is 100% made for mixing, has also been named ‘World’s Bestselling Scotch’, with the report revealing that it was the go-to scotch in 22% of bars and among the top three in 36%.

Commenting on this, James Pennefather, India Managing Director at William Grant & Sons said: “A perfect record for Monkey Shoulder to win Number 1 in both trending and best selling Scotch in the world by Drinks International. It’s truly rewarding to be not just the desired brand amongst the bartenders but a clear favourite with the consumers. The proposition of giving consumers drinking experiences the way they like them to be, enables cheeky and playful connects with early adopters, whisky enthusiasts and connoisseurs.  Whether it’s the game-changing thought of making a blended malt whisky that’s made for mixing or the revolutionary new thinking and inventions, we are committed to bringing great Scotch to whisky drinkers” , he added

The achievements pay homage to the brand’s continued investment in bartender initiatives throughout 2018, including Camp Monkey and Monkey Shoulder’s Ultimate Bartender Championships. Monkey Shoulder has been steering the rising cocktail culture by encouraging consumers to experiment outside of the “straight” or “with water” only approach. Monkey Shoulder’s Ultimate Bartender Championship is a one of a kind platform for developing new age bartenders of today around the globe, challenging bartending ‘skills that pay the bills.’ Known for empowering the bartender community with skills and tools, the Brand has invested itself towards igniting creativity and establish craftsmanship in cocktail making.

The Drinks International Annual Brands Report surveys bar owners, managers and head bartenders from the world’s leading bars. Bars selected include winners and nominees from The World’s 50 Best Bars, Tales of the Cocktail’s Spirited Awards, Asia’s 50 best Bars, Drink Magazine’s Bar Awards, the Mixology Awards, the Class Bar Awards, Australian Bartender Awards and Time Out Awards from markets around the world. This year, 127 bars took part in the survey.

Bestselling brands are determined via sales figures, with top trending brands judged by bartenders, based on those that customers are increasingly asking for, due to word-of-mouth or bartender recommendations.

Abbott and “Malaria No More” Work Together to End Malaria in Odisha

Abbott announced that it is supporting a partnership between the government of the eastern Indian state of Odisha and Malaria No More, providing technology, expertise and funding support to advance efforts to end malaria in the state. 

The partnership builds on Odisha's success in significantly driving down malaria cases and deaths in the last year. With a population of nearly 42 million people, Odisha accounted for about 40 percent of India's malaria burden and one-third of Southeast Asia's malaria burden in 2016.[1] In support of India's 2015 commitment to be malaria-free by 2030, the government of Odisha has prioritized malaria control and elimination.[2]

In collaboration with Malaria No More and the government of Odisha, Abbott is supplying 1 million rapid diagnostic tests (RDTs) and technical expertise to strengthen Odisha's malaria detection and surveillance system. In addition, Abbott is providing US$750,000 (INR 52 million) over three years to Malaria No More to back its work with the Odisha government to define and support a comprehensive state malaria elimination strategy that can be used as a model for other states to follow.

ODISHA – LEADING THE WAY IN INDIA'S COMMITMENT TO ELIMINATE MALARIA

According to the recent WHO World Malaria Report 2018, India, with a population of 1.3 billion people, has the fourth highest malaria burden in the world and of the 11 highest burden countries, was the only one to have reported a reduction in malaria cases – 24 percent – between 2016 and 2017.

In 2017, India launched its five-year National Strategic Plan for Malaria Elimination, which shifts focus from malaria "control" to "elimination" and provides a road-map with targets to end malaria in 571 of India's 678 districts by 2022. 

India's recent progress was largely due to substantial reductions in malaria cases in Odisha. Through persistent efforts and innovative approaches, Odisha achieved an 80 percent reduction in cases in less than one year. Odisha's success is due to innovative approaches such as training 44,000 Accredited Social Health Activists (ASHAs) to reach its most vulnerable citizens with rapid diagnostic tests and other life-saving malaria interventions in areas where most cases remain.[3]

INNOVATIVE RAPID DIAGNOSTICS TO PLAY CRITICAL ROLE IN DETECTING MALARIA

Eliminating malaria will require more robust and accurate data. Rapid diagnostic tests are the frontline first step of data collection that can provide baseline information for Odisha's malaria surveillance system. With strategic use of data, health officials can make better decisions about where to deploy the most effective malaria control tools.

"Abbott is committed to supporting the partnership to help end malaria, including sharing our life-changing technologies that can detect malaria," said Damian Halloran, Vice President, Infectious Disease–Emerging Markets, Abbott. "The government of Odisha deserves enormous credit for its commitment to the fight against this deadly disease. Together with Malaria No More, we're looking forward to advancing this important work and to further building out Odisha's surveillance and data collection capacity."

The 1 million rapid diagnostic tests donated by Abbott will be the antigen-based SD BIOLINE Malaria Ag P.f/P.v, a screening test for the detection of Plasmodium falciparum (P.f) and Plasmodium vivax (P.v) parasites in human whole blood.

EXPANDING THE IMPACT OF ODISHA'S SUCCESS MODEL

Expanding access to diagnostics and treatment, strengthening data collection, distributing 11 million bed nets and improving health care worker skills propelled Odisha's fight against malaria in 2017. The government's DAMaN initiative, which stands for Durgama Anchalare Malaria Nirakaran, or "Malaria Control in Inaccessible Areas," included village-wide testing for malaria using RDTs and treatment campaigns – along with malnutrition care and other services – to substantially reduce parasite levels before the monsoon season caused mosquitoes and malaria to proliferate.

To increase the impact of Odisha's success model, in August 2018, Malaria No More entered into an agreement with the government of Odisha to provide technical assistance to the Odisha Vector Borne Disease Control Program (VBDCP) and support overall strategy development.

Prime Video Ushers in the New Year with the Trailer Launch of Prime Original Series - Four More Shots Please!

Amazon Prime Video, today, unveiled the much-awaited trailer of their upcoming Prime Original series titled Four More Shots Please!  The series has been created by Rangita Pritish Nandy, produced by Pritish Nandy Communications and directed by Anu Menon. The new Prime Original casts a spotlight on the strong bond of female friendship that serves as a life-line for young women in urban India as they adapt, flourish and rebel in a rapidly evolving societal culture with changing gender roles. Helmed by a predominantly women cast and crew, the show has been written by Devika Bhagat, with dialogues from Ishita Moitra. Prime members from more than 200 countries and territories can binge-watch the 10-part series starting 25th January 2019.

Vijay Subramaniam, Director and Head, Content, Amazon Prime Video, India said, “At Prime Video we are focused on serving a wide and diverse set of customers their daily dose of entertainment on our service. From reality shows for millennials, to comedy for all, hard hitting heartland story in Mirzapur to a psychological thriller in Breathe, we have something for everyone on Prime Video. We are excited to start this year with a female centric, genre defining, aspirational show, that will take viewers on a larger than life journey into the urban women’s world.  Let the celebrations begin – Four More Shots Please!”

Pritish Nandy, Chairman, Pritish Nandy Communications said, “It is always our endeavor, through our films, to strike a chord with relatable stories, stories that capture the spirit of today’s India, the new India that is often missing from our cinema. With our debut digital venture we intend to take this ahead and explore what cinema is yet to brave.  Four More Shots Please! takes you on a unique journey that today’s audiences will identify with. Yes, it is about women—four young urban women whose lives and loves we follow, whose passion and fierce individuality we celebrate—but it is also a delightful insight into what modern day relationships are based on. Friendship, love, compassion, and a joyous celebration of what brings them together. The show has been put together largely by a women crew too, led by Rangita (its creator) and Anu (the director for this season) and in Amazon Prime Video we have found the perfect partner to explore the sheer magic of this genre.”

The bold and clutter-breaking trailer introduces us to the lead characters and captures their no-holds-barred banter and rapport, revealing their lovable imperfections and how they navigate modern life with its high and lows, contradictions and dichotomies. Audiences will get a glimpse of the dilemma faced by Anjana, a single mother in a tumultuous relationship with her ex-husband, struggling to move on both emotionally and sexually.  We also meet Damini, a smart, successful, unrestrained and fiercely independent journalist who firmly believes that she needs no man to satisfy her needs; she owns her sexuality in a non-fussy, practical way. The trailer reveals the insecurities faced by Siddhi that stem from a complicated relationship with her mother, while showcasing Umang’s unbridled, sexually adventurous, bi-curious personality and enthusiastic willingness to experiment. Despite their obvious differences, these four girls share a beautiful friendship that forms the core foundation of their life and the support system that keeps them buoyant.

Watch the trailer of Four More Shots Please! here: https://youtu.be/D7NCW8gMtVs

Anu Menon, Director, said, “From the moment I read the first page of the script, I have been excited about the release of Four More Shots, Please!  The show is determinedly front-footed and is an unapologetic take on the highs and lows of being a modern millennial Indian woman. It is sassy, sexy, funny, glamorous but it also packs an emotional punch, tugging at your heart when you least expect it.  Directing this Prime Original Series has been both an exhilarating and liberating experience for me, with both, Amazon Prime Video and Pritish Nandy Communications giving me not just complete freedom but also the right kind of support to help bring my vision alive. I can't wait for the launch and hope that viewers enjoy it as much as I enjoyed directing it.”

The Prime Original Series stars Sayani Gupta, Kirti Kulhari, Bani J and Maanvi Gagroo along with a stellar ensemble cast comprising of Prateik Babbar, Lisa Ray, Milind Soman and Neil Bhooplalam along with Amrita Puri and Sapna Pabbi.  Replete with pop cultural references, Four More Shots Please! is the one thing you need to watch to get into the mind of the modern Indian woman. The show launches on Prime Video on 25th January 2019.

Samsung to Unveil its Smart Foldable Phone at CES in 2019

Samsung is likely to unveil at flagship smartphone -Foldable at the CES (Consumer Electronics Show) happening in January 2019 at Las Vegas. According to a source, indicates that a selected number of vendors were given an early look at the device and also that Samsung’s director of Product Strategy and Marketing - Suzanne de Silva, had earlier confirmed that the new phone will be ready to hit stores in the first half of 2019.

Samsung flagship smartphones, the foldable phone will have limited availability in the initial stage. A Samsung representative has told Gizmodo that “the foldable device will launch by the first half of 2019 in select markets. We are currently ready for its mass production and expecting at least 1 million units to be produced.”

Samsung’s foldable phone which still doesn’t have a confirmed name, was shown at Samsung’s Developer Conference. It uses what the company calls an Infinity Flex Display which is a flexible OLED display with a 7.3-inch primary panel which once folded, converts into a regular phone form-factor with a 4.2-inch display. The second smaller display on the outside lights up when you fold the device and shows content as you would see on a regular smartphone. The panel which is on the inside can run up to three apps simultaneously using ‘multi active window’.

The new smartphone is also expected to carry a heavy price tag. Speculations suggest anything above the $1500 price mark and it is possible that the device will be launched in Samsung’s hometown first followed by the rest of the world.

64% Indians Not Equipped to Handle Home Safety Threats: Har Ghar Surakshit 2018 Report

Indians are at risk when it comes to home safety as 64% people are not equipped to handle home safety threats such as burglaries, robberies, among others. This is according to Godrej LocksS ‘Har Ghar Surakshit 2018 Report: India’s Safety Paradox – Home Safety Vs Digital Safety’, conducted by Research Now. This report was released as a part of #HarGharSurakshit, a nationwide campaign by Godrej LocksS to promote home safety across Indian homes.

Godrej LocksS ‘Har Ghar Surakshit 2018 Report: India’s Safety Paradox – Home Safety Vs Digital Safety’ focus on people’s perception of home safety in the digital age. Homes in India are not just a place to stay but are also considered as safe abodes for families. Indians store their important documents and credentials at home, along with money, jewellery, and other valuables. There is a lot to protect, but Indians seem to be lagging behind in upgrading even the primary source of protection of their homes i.e. locks as only 40% Indians change their locks in 2-3 years and 20% have never changed it.

Godrej LocksS ‘Har Ghar Surakshit 2018 Report’ highlights that 70% of all the thefts that happen in India are home thefts and the other 30% being the digital thefts. Yet, Indians are more resolute in safeguarding just their digital assets instead of focusing on home safety. People have swiftly adopted technologies for their digital safety. As a matter of habit, 83% Indians change their digital passwords every 6 months more frequently than considering a safety upgrade for their homes. 67% change their PC passwords and 50% change their debit card PIN every 2 months.  50% also ensure they use a reputed anti-virus on their computers or mobiles. Over 55% use fingerprint sensors on their phones to prevent unauthorized access.

However, despite the day-to-day usage and awareness of technologies, Godrej LocksS ‘Har Ghar Surakshit 2018 Report’ indicates that Indians are reluctant in adopting them for securing their homes. The report says 83% Indians are aware of digital/electronic locking technologies yet more than 61% do not want to embrace technology and upgrade to high tech safety solutions for homes.

Commenting on Godrej LocksS ‘Har Ghar Surakshit 2018 Report’ and its findings, Mr. Shyam Motwani, Executive Vice-President and Business Head, Godrej Locking Solutions and Systems said, “As a brand that is synonymous with trust and safety, Godrej LocksS purpose is to make people aware of the importance of home safety. Har Ghar Surakshit report suggests that Indians, although feel safe at home, are unprepared to deal with home safety issues. Moreover, home safety has become secondary in this digital age. We want to encourage people to prioritize home safety just like how they secure their digital assets. In line with this vision, #HarGharSurakshit campaign will promote the larger cause of enhancing safety across homes of people in urban and rural India.”

Indians enhance their digital safety actively due to regular updates of digital risks through information across platforms. They also receive reminders to change their passwords or upgrade their digital security level to the next advanced versions. Similarly, people are willing to enhance their home safety if they are made more aware and provided with information, which will bring about a behavioural change amongst citizens towards the perception of home safety. Through #HarGharSurakshit campaign, Godrej LocksS intends to bridge this awareness gap. The company has pledged an investment of INR 100 crore over the next 3 years towards #HarGharSurakshit and will be undertaking multiple initiatives through various platforms across India.

Residential Market Recovers in a Newly Regulated Environment Keeping Prices Stable Across 2018: Knight Frank India

Knight Frank India has announced the tenth edition of its flagship half-yearly report – India Real Estate. The report presents a comprehensive analysis of the residential (across eight cities) and office (across seven cities) market performance for the period July – December 2018 (H2 2017). The report has established 2018 to be historically best performing year for the commercial office with leasing crossing 46 million square feet (msf). For the residential market saw some upward movement in sales velocity but stopped short of being a year of recovery. Total sales of residential units were estimated to be 242,328 units registering a 6% increase over full year 2017.

Both the residential and the commercial office markets of Bengaluru saw an uptick in demand. For the residential market, sales for full year 2018 were registered at 43,776 units, while new units launched were registered at 27,382 units. Commercial office demand remained strong for another year, with leasing activity levels settling at 13.4 msf, while supply largely remained restricted at 7.6 msf in 2018.

Residential market highlights for Bengaluru:

Residential launches in H2 2018 were at 11,826 units denoting a y-o-y growth of 41% over same time last year
On an overall basis, 2018 saw new residential unit launches to the tune of 27,382 units marking a 22% rise y-o-y, albeit on a smaller base.
The average size of newly launched units has shrunk by 7% in 2018 as compared to those in 2014
For the first time since 2014, the residential market saw positive sales growth putting the residential sector on an upward growth trajectory.
The average residential prices in 2018 saw a marginal growth of 2% y-o-y over 2017, but with smaller units, the effect on ticket sizes was limited.

Shantanu Mazumder, Senior Branch Director – Bangalore, Knight Frank, “Largely end-user driven, Bengaluru’s residential market remained buoyant with a line of caution. Both launches, and sales depicted upward trajectory, but the market activities can at best be termed conservative. Developers have been cautious of keeping a steady pace of new launches ensuring that demand is adequately catered whilst bringing down the unsold inventory in the market.”

Commercial market highlights Bengaluru

Bengaluru continued to see the highest volume of leasing with over 13 msf being transacted in the entire year. The percentage growth in 2018 over last year was recorded at close to 15%.
H2 2018 recorded nearly 7 msf of office space leasing surpassing the transaction volume in the first half of 2018 and registering a y-o-y growth of close to 17% from same time last year.
BFSI sector led the leasing activities in the city constituting 28% of total leasing volumes in H2 2018, while IT/ ITeS took up 37% share of total leasing volume.
At 7.6 msf, the total supply in 2018 took a contrarian path and registered a y-o-y decline of 6% over 2017.
As a result of office space demand continually outpacing supply, the vacancy levels in Bengaluru have been registered at 4.3%.
In the same space, the average rental values for Bengaluru also saw a rise of about 17% in 2018.

Shantanu Mazumder, Senior Branch Director – Bangalore, Knight Frank, “Bengaluru’s commercial market is precariously poised at this juncture where the supply is grossly lower than the demand. While, in current context it is making the office sector highly investor friendly providing rental security and relatively higher rental yield. However protracted trend of reducing supply can lead to stagnant or degrowth of the market.”