Yes Bank Signs Banking Partnership with Kia Motors Across India

Yes Bank, India’s fourth largest private sector Bank, signed a Memorandum of Understanding (MoU) with Kia Motors, world’s eighth largest automaker, to enter into a strategic financing partnership, making it one of the first Indian banks to become their preferred financier. The benefits of this partnership will be extended to the entire auto value chain - Auto dealers as well as customers, covering multiple car models offered by Kia Motors India.

Kia Motors is set to enter Indian market by second half of 2019 with an all-new mid-SUV which was previewed at 2018 Auto Expo. The partnership will utilize YES BANK’s capabilities to provide a comprehensive range of attractive financing options for Kia Motors’ customers in India, helping support the company’s continued growth and expansion plans in different geographies.

Through the partnership, YES BANK will be able to provide end to end financial solutions to Kia Motors India. The Bank will offer financing and banking solutions to both the Kia car dealers with products such as Term Loans, Cash Credit, Inventory funding etc. as well as the end consumers. The Bank will work towards satisfying the customers’ needs through auto loans with easy monthly repayment plans best suited for individual consumers. Moreover, YES BANK will also leverage its chat bot based platform, YES mPower bot, allowing it to deliver superior customer experience with 1 min loan approval across all the retail touch points.

Speaking about the partnership, Pralay Mondal, Senior Group President and Head, Retail and Business Banking, YES BANK said, “YES BANK is pleased to partner global auto manufacturer Kia Motors in India. The Bank has been working with various auto players to provide innovative finance solutions, thereby further strengthening our position in the competitive value driven car segment and also contributing to the growth of the segment in the country.”

“It is our endeavor to enhance the experience of our prospective customers and add more value to our dealer partners in India. The partnership with YES BANK will definitely set the benchmark of premium and hassle-free Kia experience. This partnership will empower our stakeholders and customers with financial products specifically tailored for them to facilitate their smooth entry into the world of Kia,” said Kookhyun Shim, MD & CEO, Kia Motors India. “Kia Motors India aims at creating excitement in the automobile industry with best in class innovative solutions meeting overall needs of our partners and customers likewise,” he added.

The partnership will focus on providing easy financing opportunities for the dealers and also make it easy for eligible buyers to acquire brand new Kia vehicles. Besides providing financing solutions, YES BANK will also work towards developing exclusive digital banking solutions for Kia Motors in India.

Kerala Government Announces Partnership with Unity Tech to Launch Startup Centre of Excellence

Kerala Startup Mission, the nodal agency of Govt. of Kerala for technical entrepreneurship in the State has partnered with Unity Technologies to launch a Centre of Excellence for AR/VR and gaming. Through this Centre of Excellence, Unity will extend support to startups developing products, services, and games on platforms including mobile, PC, and various AR/VR hardware. This Centre of Excellence will also have a special focus on providing different levels of training on AR/VR developer tools to students and professionals in the State. The partnership is a significant step forward for developing an AR/VR ecosystem in Kerala.

“The AR/VR market is expected to witness huge growth globally in the next 5-6 years. This growth in demand for AR/VR content and solutions will be accompanied by the sprouting up of a new set of businesses. “This Centre of Excellence for AR/VR Developer tools with Unity Technologies is a step taken by the Govt of Kerala towards creating an ecosystem for new businesses to grow and cater to the global demand,” said Shri. M Sivasankar IAS, Secretary Department of IT & Electronics, Govt. of Kerala. Sivasankar also said that ICT Academy of Kerala and CDIT has an important role to play in the creation of this ecosystem in Kerala.

“Unity is at the center of the AR/VR ecosystem, powering 60%+ of all content and we see this industry growing significantly over the next few years,” said Hubert Larenaudie, Vice President of Asia Pacific at Unity Technologies. “This Centre of Excellence for AR/VR developer tools is a step taken by the government of Kerala to create an ecosystem for these new businesses to grow and thrive."

"Kerala Startup Mission is committed towards creating an enabling ecosystem for young ventures working on various emerging technologies. With its rich pool of creative talent, Kerala has the opportunity to become a hub for this extended reality disruption, which is a combination of content and solutions powered by hardware and distribution platforms. This emerging industry will, in turn, create new jobs that require new sets of skills. We will be working with ICT Academy of Kerala for skilling interested students and professionals on these design and development tools." said Saji Gopinath, CEO, Kerala Startup Mission.

In line with the Knowledge City initiative of Government of Kerala, KSUM has a special emphasis in promoting startups working in various emerging technologies like AI, Cyber Security, AR/VR etc. Over the past one year, KSUM has touched bases with more than one hundred (  to be precise) startups in these emerging technologies and has provided these startups with various support mechanisms including technology access through Future Technologies Lab, Innovation Grants, seed loans, exposure programs, and market connects. Future Technologies Lab also runs evangelization drives across the State to attract more professionals and students to take up research, learning and development programs in these newer technologies.

“In the Industry 4.0 world, AR/VR is a vital technology that has applications in multiple domains, hence youth with skills and competencies in AR/VR will have a unique advantage in the future jobs market. ICTAK is delighted to be skilling interested students and professionals on these design and development tools” said Santhosh Kurup, CEO, ICT Academy of Kerala.

Infosys Approves Rs 8,260 Crore Buyback Plan with Maximum Price of Rs 800 Per Share

In line with market expectations, Infosys on Friday approved buyback of shares, its second in less than two years.

The company said it would buy back 103,250,000 equity shares, which is 2.36% of the paid-up capital of the company as of December 31, 2018. The buyback size stands at Rs 8,260 crore at a maximum price of Rs 800 per share.

The buyback value per share is at a premium of 14.6% on the current market price. On Friday, the company’s shares closed 0.58% up at Rs 683.70 on BSE.

The company has constituted a buyback committee (Buyback Committee), comprising the COO, the CFO, the Deputy CFO, the General Counsel and the Company Secretary of the Company. “The Buyback Committee has the power to do all such acts, deeds, matters, and things as it may, in its absolute discretion, deem necessary, expedient, usual or proper in connection with the Buyback,” the company said.

It has also announced a special dividend of Rs 4 per equity share. Infosys will spend further Rs 2,107 crore over the special dividend. In June 2018, it had announced a special dividend of Rs 10 per share resulting in a payout of Rs 2,600 crore.

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.