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Scoop into happiness with Burma Burma Artisanal Icecreams and Merchandise t-Shirts

March 2023: Burma Burma Restaurant and Tea Room is a brand known to offer cuisine from Burma (Myanmar), delicately made from cherished family recipes. Post the successful launch of its restaurant business and bb pantry, the brand now forays into launching artisanal ice creams and merchandise t-shirts. Deep rooted connections with flavors, stories and nostalgia, Burma Burma now introduces gourmet ice creams in 6 unique and premium flavours. Each of the icecreams brings an irresistible mix of flavor profiles, set to satisfy every taste and inspire moments of everyday happiness. To match their yummy ice creams, Burma Burma collaborated with Pure Waste to design a range of responsibly produced recycled t-shirts. Talking about the t-shirts designed by Rushil Bhatnagar, the designs pay homage to 80’s ice cream parlours coupled with chequered decors and stencil-painted texts. These t-shirts are exclusively made to celebrate Burma Burma’s new range of nostalgic artisanal ice creams.

The icecream flavours are so unique that you might be spoilt for choices. “Honeycomb & Sweetcorn”, “Dark Chocolate & Olive Oil”, “Caramelised Chocolate & Cheese”, “Pineapple Energee” , “Avocado & Honey” and “Durian Fruit” are the scrumptious whipped up scoops to choose from the ice cream menu. With palette friendly flavors & people’s favorite, the experimentation goes beyond the kitchen to innovate with nostalgia. At its core, the team at Burma Burma is constantly inspired by everyday ingredients living with them since they were kids. These ice creams are created with some very unique and unusual ingredient combinations like a Sweet corn ice cream popsicle and honey comb, the after school drink of every kid Pineapple Energee which is flavoured milk, churned to an ice cream, served with brown butter crumble, Avocado ice cream topped with honey caviar and coconut fumes and the forbidden Asian Durian Fruit known for its distinct taste and flavour churned into one-of-a-kind handmade ice cream exclusively available at Burma Burma.

Offering the yummiest Ice Creams in a variety of flavours for Indian homes is a new dimension added by the recognised multiple outlet brand. These delectable scoops by Burma Burma are here to win your hearts with the best quality ingredients.

Commenting on the launch Co-founder, Ankit Gupta says “The recently introduced flavours are a reflection of the preferences of Millennials and Gen Z. We have played upon the nostalgia of ice cream rituals such as visiting parlors, birthday parties, bowls shared with families & guests which to an extent helped us in creation of each flavour. Thus making this new range accessible and enjoyable for all ages. These new flavors represent our passion and commitment to creating what’s ‘next’ on our menu. Our packaging is equally nostalgic and breaks through the monotony by encapsulating the feeling of Vintage Parlors and Ice Cream Trucks.”

Burma Burma Artisanal Icecreams and merchandise t-shirts are available exclusively at all Burma Burma Restaurant and Tea Room. Icecreams are also available for delivery in Mumbai, Noida, Bengaluru, Gurugram, Delhi and Kolkata priced at Rs 500 onwards.

T-shirts are available on the Burma Burma pantry website too- www.shopburmaburma.in.

“Pendown Press Books Take Flight with Author Corner’s Launch

World Book Fair is a platform for various book launches, author discussions, and literary events. As World Book Fair is on full swing at Pragati Maidan, the series of book launching events are on its way. Among the most talked-about book releases today, there was book release of Pendown Press’ books Driving Digital Transformation by Raktim Singh, Bhuwan Pant’s Don’t Delay Act to Play, Ajay Adlaka’s Why Nobody Cares for Your Brand, Dr. Taara Malhotra’s MIndful Miracles and Sanjay Narwal’s books, namely Rich Practitioner Kaise banein and Pashupalak Apni Amdanee kaise badhayein.

Among these books, Raktim Singh’s book is in both Hindi and English which is written on the topic of Digital Transformation, whereas Sanjay Narwal’s both books are in Hindi language which are written for the purpose of making the readers aware, especially the farmers of this country, about the importance of cattle wealth and how to nurture and preserve this wealth.
The author corner of Pragati Maidan was jam-packed just before and during the release of these books.

As the guests took their seats, the host of the event welcomed everyone and introduced the authors of these books in concise but effective way. Firstly, the founder and CMD of Pendown Press Dinesh Verma was called upon the stage and were asked to address the audience. Amid the thunderous clapping, Mr Verma Greeted the Gathered with his quintessential smile and said,

” Releasing books through the prestigious place of Author Corner in Pragati Maidan is indeed a proud moment for us. The Pendown Press authors have made all these possible. All the books being launched today carry great values and significance for the readers and this is what the aim of Pendown Press is.”

Soon after that the authors read a brief excerpt of their books to give the audience a taste of the books being launched.
Following the author’s presentation, Q&A session began. After the Q&A, there was book signing event. Readers met the author, and took his signed book. The entire book launching ceremony was quite electrifying and engaging.

Optimism level of CFOs for operating margin and liquidity position is at a ten-quarter low – Dun & Bradstreet India Survey

Mumbai, March 2023: A recent survey of Chief Financial Officers (CFOs) in India, conducted by Dun & Bradstreet India, a leading global provider of business decisioning data and analytics, found that CFOs’ confidence in financial and macro-economic conditions has declined over the same quarter in the previous year. The pan-India survey compared the confidence levels of CFOs for Q1 2023 with the previous quarter.

Key findings from the survey:

• The Composite CFO Optimism Index declined by 7.8% (y-o-y) to 96.1 in Q1 2023. However, the index increased by 8.3% on a q-o-q basis

• The optimism level for overall macroeconomic scenario declined by 18.2% (y-o-y) in Q1 2023

• Only 35% of CFOs expect an increase in the operating margin of their company in Q1 2023, lowest in 10 quarters

• Only 7% of CFOs in the industrial sector expect the level of financial risks to decrease in Q1 2023, lowest since Q2 2012

• Optimism for raising short term funds is highest since Q2 2012

• Overall scenario for mergers and acquisitions is highest since Q2 2022

• Risk appetite of the CFOs in the industrial sector is highest since Q1 2020

The Dun & Bradstreet India Composite CFO Optimism Index analyses the optimism level of CFOs on 12 parameters: operating margin, liquidity position, level of financial risk on company’s balance sheet, risk appetite, need for raising short-term and long-term funds, cost of raising funds, availability of funds, domestic and global macroeconomic scenario, overall scenario for mergers and acquisitions, and level of financial risks for corporate sector.

Commenting on the findings of the survey, Arun Singh, Global Chief Economist, Dun & Bradstreet, said: ”The optimism level of CFOs has been subdued for five consecutive quarters, although the pace of decline moderated in Q1 2023. Even as the outlook for domestic growth remains positive, businesses remain wary about the economic developments in the domestic and global market. India’s growth forecast has been revised downwards in the last few months as core inflation has not yet abated, and interest rates are still inching up. As the global economy is headed towards a synchronized economic slowdown, export prospects remain weak. Reflecting upon the risk to the economic and business environment, CFOs remained cautious about operating margin and liquidity position – the optimism for which fell to a 10-quarter low in Q1 2023. Amidst the low optimism for profitability and liquidity position, the need for short term funds – an indicator for working capital – has surged to the highest level since Q2 2012, indicating a tightening of cash flow conditions. Businesses should remain vigilant and increase the close monitoring of strategic accounts and focus on effective recovery system”’.

TriVeda Capital partners with integrated marketing consultancy, One Source

India:  TriVeda Capital, a new-age Indian real estate investment platform and SEBI-registered category II AIF, today announced their partnership with integrated marketing business impact consultancy, One Source. The partnership will involve integrated marketing communication and creative duties across PESO platforms.

The founders, Mr. Ravindra Pai and Mr. Raj Inamdar, have over 40+ years of real estate investment & development experience. The management team at TriVeda Capital has collectively raised over $1.1 Bn capital for real estate projects, and have a development portfolio of 15+ mn sqft. TriVeda Capital in turn is focused on residential assets in major South Indian metropolises.

The partnership will be co-led for One Source by Senior Counsellors, Akanksha Srivastava and Tanya Chaudhary, supported by the national team.

Opining on the partnership Tripti Agarwal, Business Head, TriVeda Capital, said, “At TriVeda, we enable investor participation in the Indian real estate growth story. Hence we looked for partners who believe in mutual growth. It is the same thought process we bring to our investors as well, one of ‘we grow when you grow’. With their extensive experience in the financial space, One Source was an unequivocal choice, demonstrating a partner-and-not-vendor attitude”.

Sandeep Rao, Co-founder & CEO, One Source added, “Over the last five years, we have been defined less as a marketing firm by our partners, and more as a business impact marketing consultancy, or one I heard recently – a scale-up marketing firm. Helping our partners raise billions in valuation and tens of thousands in headcount are the business impact we have created year on year. We are honoured to be working with Ravindra, Raj, and the team at TriVeda, and hope to grow alongside for years to come”.

One Source has offices in New Delhi, Mumbai, and Bengaluru which service Indian and global market leaders across start-ups, BFSI, fintech, edtech, construction, e-commerce, fast fashion, manufacturing, packaging, business consulting, ICT, foodtech and more. Over the last five years, the consultancy has seen consistent 100+% growth across partners and people, beating average industry appraisals along the way at 27% YoY.

AVEVA announces new CEO and vision for connected industries of the future

Mumbai, India, 5 March 2023 – AVEVA, a global leader in industrial software, has announced Caspar Herzberg as CEO.

With more than 25 years’ software and industry experience, Caspar brings a deep understanding of how technology can transform and reshape industries, enabling innovation and driving responsible use of resources.

Caspar joined AVEVA in 2021 as Chief Revenue Officer and assumed the role of Chief Operating Officer in 2022. AVEVA has recently been acquired by Schneider Electric, and as AVEVA CEO, he will also be a member of the Schneider Electric Executive Committee.

Prior to joining AVEVA, Caspar led all aspects of Schneider Electric’s business in over 80 countries as President, Middle East & Africa. He started his business career at Accenture based out of its London office and worked in extensive digital transformations for the global energy sector. At Cisco, Caspar led sales and services for over ten years, developing smart cities strategies, technology innovation and business master plans for the private and public sector in China, Asia, Japan, Australia, the USA, and Europe.

Caspar replaces Peter Herweck, who will become CEO of Schneider Electric from May 4th, 2023.

Caspar Herzberg, CEO of AVEVA, said: “It is a privilege to take over from Peter Herweck, who has led the company through a time of transformation and renewal. We have a great opportunity ahead of us, having brought together three market-leading software portfolios– Schneider Electric Software, AVEVA and OSIsoft. We are now one of the world’s top industrial software providers, trusted by over 90% of industrial companies from energy, water and food to manufacturing, pharmaceuticals and smart cities. We plan to drive value for our customers with integrated data, AI-infused applications, accelerating their journey to the cloud and providing Software-as-a-Service (SaaS) to reduce total cost of ownership.

“My vision for the future is a completely connected world, where industrial teams use integrated data to collaborate beyond their own four walls. Together with suppliers, partners and customers, they uncover new synergies, reduce waste and create new opportunities. At AVEVA, we are uniquely positioned to enable our customers to thrive in this new connected industrial economy. I’m looking forward, alongside our hugely talented teams, to empowering our customers to design better, operate more efficiently and solve the most critical challenges for industry, infrastructure and our planet.”

Honda Cars India registers 6,086 units of domestic sales in February 2023

Mumbai, March 2023: Honda Cars India Ltd. (HCIL), leading manufacturer of premium cars in India, registered monthly domestic sales of 6,086 units in February 2023. The export numbers for HCIL stood at 973 units in Feb’23.

Sharing thoughts on Feb’23 sales performance, Mr. Yuichi Murata, Director, Marketing and Sales, Honda Cars India Ltd said, “Our sales performance in the month of Feb’23 has been as per our plan towards seamless transition of our models to new emission norms. We are currently gearing up for the launch of New City, and we are confident that it will generate new excitement and appealing options for customers.”

The company had registered 7,187 units in domestic sales and exported 2,337 units in February’ 22.

Axis Bank completes acquisition of Citibank India’s consumer businesses in India’

Mumbai, March 05, 2023: Axis Bank, one of India’s largest private sector banks, has completed the acquisition of Citibank’s consumer business in an accelerated time frame of within 7 months post receipt of CCI approval, displaying a strong testament of its execution

strength. The deal has been closed with Axis Bank paying a total purchase consideration (after customary & contractual adjustments) of INR 11,603 Cr* to Citibank India.

The transaction comprises the sale of the consumer businesses of Citibank India, which includes loans, credit cards, wealth management, and retail banking operations. The deal also includes the sale of the consumer business of Citi’s non-banking financial company, Citicorp Finance (India) Limited, comprising asset-backed financing business, which includes commercial vehicle and construction equipment loans, as well as the personal loans portfolio.

The acquisition is a healthy strategic fit in line with Axis Bank’s GPS (Growth, Profitability & Sustainability) strategy and its focus on premium segment growth. The Bank has gained access to the large, affluent, and profitable customer franchise of Citibank, which aligns well with its Premiumization strategy. 

With the acquisition, comes a quality credit card franchise with one of the highest wallet shares in premium cards, that is Complementary and consolidates Axis’ position in the cards business, market share improving from 11.4% to 16.2%⁽¹⁾. The acquired portfolio would increase Axis Bank’s credit card customer base by ~19%, with an addition of 1.8 million cards***. With the highest number of transactions per card across the industry and digitally engaged customers, the deal would strengthen Axis Bank’s position in the top 8 metros, while also providing the opportunity to adopt global best practices in client servicing and operations through Citi Phone banking.

Additionally, the acquisition of 2.4 million customers of Citibank India enhances Axis Bank’s presence in the key growth segments, complementing the existing Axis franchise. The Bank now has aggregate deposits of INR 8,881 Bn of which a high proportion of CASA is at 77%, with SA constituting 71%. Access to a premium deposit base with deep corporate salary relationships has improved the combined CASA ratio on proforma basis by ~150 bps to 46%. Affluent and digitally engaged SA customer base with access to ~1600 Suvidha corporate relationships that significantly strengthens Axis Bank’s Salary Business.

Post-acquisition, Axis Bank gains ready access to highly affluent wealth customers resulting in a 33% addition to overall AUM of Burgundy Private Banking portfolio, further strengthening the existing franchise. With an added AUM of INR 947 bn across Citi products in Wealth Management and Private Banking, the current AUM of the Bank’s wealth management portfolio stands at INR 3785 bn, making it the 3rd largest in the industry.

Through the acquisition, Axis Bank welcomes a diverse talent pool of ~3200 employees trained in global best practices, and experienced leadership with deep domain expertise.

Benefits for Citibank customers 

The Citi customers will continue to enjoy same benefits and privileges with no changes in their existing Bank account number, Credit/Debit Card numbers, cheque books, IFSC & MICR code. They will continue to be serviced by same relationship managers and teams. All the 21 in- perimeter branches remain fully equipped to serve the incoming customers; we are also equipping 13 additional branches that would be available for incoming customer servicing during the transition period. The necessary IT applications and trained staff have been deployed at acquired branches. All the services to the incoming customers will continue to function as before as the same teams from Citi move to Axis intact.

On the other hand, the erstwhile Citi retail franchise will now have access to massive national scale of (~4900) branches and (~16,000) ATMs and recyclers as well as cutting-edge digital plus data-science assets through the Axis platform.

Further, Citibank’s customers will specifically benefit from Axis Bank’s wider geographical reach and comprehensive service offerings, along with One Axis capabilities that extend across all its subsidiaries ensuring a ‘same or better’ offer to all Citi customers.

Speaking on the occasion, Amitabh Chaudhry, MD&CEO, Axis Bank said,  “We welcome over 2.4 million customers and ~3200 employees to our Axis family ‘Dil Se’, as we successfully conclude the first leg of integration. This is a significant milestone in Axis’ journey of growth and leadership in the Banking industry and is set to bring great value for all stakeholders involved. We have a strong balance sheet, comfortable capital levels, and the right team and customer segments to further realize our ambitions.”

He added, “Citibank has a culture that is much like ours, with a commitment to best-in-class customer service, people focus, and community engagement. Axis Bank already has a rich network of Citi alumni across the hierarchy, which reflects of the cultural alignment between the two organizations. Given the expertise that the new employees will bring to the table, we view them as a significant force to help drive our GPS objectives. The premium portfolio and business synergies through this deal will help accelerate and add further momentum to our already robust plans across priority segments.”

Subrat Mohanty, Group Executive & Head – Banking Operations and Transformation, Axis Bank said, “We are delighted with the addition of Citi’s premium consumer business and a high-quality team of colleagues to Axis Bank. We expect our customers to experience the value of this integration with newer, innovative products and world-class customer practices. Axis Bank is positioned strongly to power India’s growth story.”

Arjun Chowdhry, Group Executive &  Head  –  Cards,  Payments &  Wealth,  Axis  Bank said, “Axis Bank is committed to building a strong consumer banking business in India, and already has deep market presence, across all segments and geographies. All ~3200 Citi colleagues, who carry a strong and diversified skill set, are extremely excited to join the Axis family and further build on its growth ambitions. We look forward to collaborating with Axis’ experienced senior leadership team and diverse talent pool, as we join the 88,000+ strong, dedicated workforce and live up to the brand’s credo ‘Dil Se Open’.”