Category Archives: Business

LowCarbon.Earth, Asia’s Leading Climate Accelerator Supported by UNEP and Massive Earth Foundation, is Hosting its Demo Day in Bangkok on 25th April 2024

23rd July 2024  Gurugram, Haryana, India  Massive Earth Foundation, in collaboration with the United Nations Environment Program, will host the ‘Low Carbon Earth’ 23 Demo Day’ on 25 & 26 April 2024, in Novotel, Sian Square, Bangkok. The event will enable promising climate tech startups from Across the Asia Pacific to showcase their products, connect with investors, raise funds and scale their innovative climate tech solutions.

The Low Carbon Earth Demo Day in Bangkok is the final stage in the Low Carbon Earth Accelerator Program that was launched in August 2023. The accelerator program invited applications from all the climate tech startups from the Asia-Pacific region and conducted a 12- week intensive virtual program to help the climate tech startups connect with mentors, network, raise funding, and showcase their products on a global level. The program witnessed an overwhelming response from various startups who demonstrated their climate tech products. Women-led startups from all around the globe participated in the even with a common agenda “Making Earth towards a green and clean plant.”

The Low Carbon Earth is an annually recurring accelerator program launched by the Massive Earth Foundation to solve climate change and pollution reduction. The accelerator program is launched in collaboration with the United Nations Environment Program, which includes the UNEP’s Go4SDGs initiative, and it also partners up with UN Women – EmPower: Women for Climate Resilient Societies. Low Carbon Earth calls out to all startups working in various sectors, such as renewable energy, sustainable textiles, addressing microplastics, optimizing farming practices and mitigating urban heat in cities. etc. & conducts accelerator programs to help startups learn from mentors, connect with the most accredited and active climate-tech investors, network with high-potential founders, and grow their products on a larger scale. The program spans the Asia-Pacific region and invites all startups whose goals are aligned with the UN’s Sustainable Development Goals (SDGs) and who are dedicated to solving climate change by developing climate-friendly technological solutions.

Min-Si Wang, founder, Ecomonitor from Singapore said, ‘LCE introduces me to a network of climate tech peers and mentors that provide invaluable collaboration and learning opportunities. I find UNEP’s insights on regional climate initiatives and tool kits to be especially valuable.’

Vilasinee Churat, founder, of Munie Lifestyle from Thailand said, ‘This journey has been truly transformative, and I’m excited to reflect on what made it so meaningful for me. The program empowered me to understand the core business values and navigate the global market for sustainable products. This experience has been instrumental in shaping my entrepreneurial journey.’

The Low Carbon Earth’23 will conclude on the demo day, which will be held in Novotel, Siam Square, Bangkok on the 25th and 26th of April, where the top 14 handpicked finalist startups will unite together at a global platform to showcase their products to investors from across Asia.

Axita Cotton Limited Achieves Record-breaking Revenue and Profit in FY2023-2024, Declares 10 id percentend

23rd July 2024 Ahmedabad, Gujarat, India Axita Cotton Limited’s Revenue skyrocketed to a staggering Rs. 1104 Crore, a remarkable 100.89% Y-o-Y increase as compared to Rs. 549.83 Crore. This impressive feat underscores Axita Cotton’s commitment to exceeding expectations and delivering exceptional value.

Commenting on the results, Mr. Nitinbhai Govindbhai Patel, Chairman, Axita Cotton Limited said, “We’re delighted to report surpassing a significant revenue milestone of Rs. 1104.38 in FY2024. This success is a result of our team’s exceptional execution and the growing adoption of Technologies. Looking ahead, our unwavering commitment lies in seamlessly integrating our acquisitions, meticulously following our strategic roadmap, and fostering sustainable, profitable revenue growth.”

In an affirmative move and a robust financial gesture that has resonated well with the market, Axita Cotton Limited. has announced a 10% dividend for FY2023-2024, a decision that has been perceived as a shining indicator of the company’s financial health.

The announcement of the dividend has been perceived positively by the market, as it underscores the company’s strong sales growth and profitability. It is not merely a distribution of profits but also a reinforcement of the company’s potential for sustained growth and profitability in the future.

Highlights of FY:2023-2024

Gurugram Emerges as India’s Real Estate Powerhouse: Unveiling a Decade of Growth and Innovation

23rd July 2024 New Delhi, Delhi, India A reflection of India’s growth story for about a decade or so, Gurugram has claimed the Numero Uno position on the national map. No wonder, the city has become the launch pad for residential and commercial real estate, with approximately 25000 units expected to be launched in the next six months.

Key Highlights:

• With over 60 percent total inventory sold in the National Capital Region both, in terms of volume and value, Gurugram seems to be driving the real estate sector in the country.
• With an unprecedented demand and unsold inventory drying up, the demand for new launches and under-construction properties has been scaling up
• The total estimated number of units, as part of new projects, coming up in the next six months, is 25000 units.
• The total estimated value of new projects coming up in the city over the next six months is 1,00,000 Cr.

Housing and infrastructure will continue to be the engine of India’s growth, as the sector witnesses an annual housing demand of 1 crore and an additional demand of 7 crore by 2030. Sales volumes in the primary market have grown at an extremely healthy annualized rate of 29%, since 2020, and culminated in a 10-year high in 2023. The residential market stepped into 2024, with sales growing at 9% YoY in Q1 2024. 86,345 units were sold in Q1 2024, a level exceeded only in Q4 2023 over the past six years.

The major contributor to this growth story in Gurugram. which continues to witness immense action on the real estate front. With over 60 percent share of the total inventory being sold in the National Capital Region both, in terms of volume and value, the region continues to be driving the real estate sector in the country. In fact, with unprecedented demand and unsold inventory getting dried up, the demand for new launches and under-construction properties has been scaling up in the city.

Last year, approximately 12,500 housing units were sold on Dwarka Expressway resulting in sales worth Rs. 25000 crore, which was 66% of total sales in Gurugram. This year, the total estimated number of units, as part of new projects, coming up in the next six months, is 25000 units. And, the total estimated value of new projects coming up in the city over the next six months is 1,00,000 Cr.

Talking about the trend, Vishesh Prakash, Lead, R&R, says, “The real estate players and developers are leveraging this opportunity where the demand for residential realty has just shot up, and offering plans and schemes to attract more investors and buyers. In what can be termed as a rare phenomenon, recently, a newly-launched inventory was sold in a day, and saw buyers/investors queuing up for its allotments. This was unimaginable trend. On the part of consumers, guess the FOMO (Fear of Missing Out) is making many jump the gun, thereby, propelling developers to create newer opportunities and launch new projects. If all goes as anticipated, Gurugram is all set to script new records in the next fiscal.”

The new residential launches will cater to various segments of the market, including luxury apartments, affordable housing, and integrated townships. Interestingly, this time around, the new launches are getting takers not because of any ‘hyped promises’, but because to visible infrastructural developments that have improved city’s connectivity, such as the expansion of highways, metro rail connectivity, and the development of peripheral roads. These initiatives have enhanced the city’s internal as well as external accessibility, and are driving the real estate growth not just within the city, but also its adjacent areas.

The Growth Story: Key Trends

• Housing and infrastructure will continue to be the engine of India’s growth, as the sector witnesses an annual housing demand of 1 crore and an additional demand of 7 crore by 2030.
• Sales volumes in the primary market have grown at an extremely healthy annualized rate of 29%, since 2020, and culminated in a 10-year high in 2023.
• The residential market stepped into 2024, with sales growing at 9% YoY in Q1 2024. 86,345 units were sold in Q1 2024, a level exceeded only in Q4 2023 over the past six years.
• With ongoing projects like the Dwarka Expressway and Metro expansion, improved connectivity and infrastructure, Gurugram is positioning itself as the Number One city of attraction for buyers and investors alike.

AIS Announces Winners of AIS Design Olympiad 5.0

23rd July 2024  Mumbai, Maharashtra, India  Asahi India Glass Ltd (AIS) is proud to announce the winners of 5th edition of ‘AIS Design Olympiad’. This year AIS Design Olympiad saw a significant increase in participation from architectural colleges across India that culminated in a grand finale with the top 8 finalists making their presentations to an esteemed jury panel on 6th April 2024 at Taj, Santacruz in Mumbai, Maharashtra. The brainchild of Asahi India Glass Ltd (AIS), India’s leading integrated glass solutions company and a dominant player in automotive and value-added architectural glass segment, AIS Design Olympiad is its effort to bring academia and industry closer and bridge the gap between learning and real-life experiences. AIS Design Olympiad has been established as a leading example of industry-academia collaboration in a relatively short time frame.

AIS Design Olympiad 5.0 invited participants to explore and experiment with new materials, construction techniques, and technologies that can push the boundaries of traditional architecture and design. Participants were encouraged to think about how their designs could respond to emerging challenges such as climate change, rapid urbanization, and resource depletion, and how they could create solutions that are sustainable, efficient, and adaptable to changing needs.

The AIS Design Olympiad (ADO) adhered to a stringent process where each student submission underwent scrutiny by distinguished architects serving on the regional and national jury panels across India. Regional evaluations happened in the North, South, West, Central, and East Zones, with each region being assessed by a panel of renowned architects.

The Final of the AIS Design Olympiad was judged by a distinguished National Jury panel including architects such as Ar. Vivek Bhole from Vivek Bhole Architects, Mumbai; Ar. Karl Wadia from Hafeez Contractor, Mumbai; Ar. Paul Moses from RSP, Bangalore; and Ar. Avinash Nawathe from ANA Associates, Pune. The winners announced at the grand finale were Rachna Sansad Academy of Architecture, Mumbai as the Winners, Deenbandhu Chotu Ram University of Science & Technology, Murthal, Sonipat, Haryana as the 1st Runner up, and SMEF Brick School of Architecture, Pune as the 2nd Runner up. These winners, both at the national and regional levels, were rewarded with cash prizes, certificates, and trophies from Asahi India Glass Ltd, with the added opportunity for students to intern with renowned architectural firms represented by the competition’s jury members.

Speaking about AIS Design Olympiad 5.0, Mr. Vikram Khanna, COO, Consumer Glass & Architectural Institutional Business, CMO – Asahi India Glass Ltd. said, “We are thrilled to announce the winners of AIS Design Olympiad, showcasing the immense talent and creativity of budding architects. Our overarching philosophy for AIS Design Olympiad 5.0 was ‘Innovation. Futuristic Design. Sustainable Architecture.’ and we are proud of what the students achieved this year through their designs. Our heartfelt gratitude to the esteemed jury panel members for their diligent assessment. Going through all the designs from across the country to find the best ones was tough and we’re thankful to our judges from the regional and final rounds who worked hard to pick out the best designs. Our Congratulations to all participants for their exceptional contributions. We look forward to an even more inspiring ADO 6.0 next year.”

Architect Vivek Bhole National jury ADO added, “I have seen ADO grow from strength to strength in the last 5 years, I congratulate AIS on the successful completion of the 5th edition of AIS Design Olympiad. We are focused on engaging students with challenging concepts and making them future ready. As I already mentioned, I would encourage all the architectural students to upskill themselves for the competitive world out there. Once again, my heartiest congratulations to all the students and the AIS team for this wonderful event.”

Mr. Shailesh Ranjan- Business Head – Institutional Sales said, “The ADO 5.0 was a successful event; I am sure everyone is going back with one or more thoughts about sustainability and the future of architecture. We saw great designs from all the students and our heartfelt thanks to all the jury members in mentoring the teams for their presentations at the regional rounds to choosing the best designs as winners.”

Kinaxis Launches ‘Supply Chain Unplugged’ Regional Event Series to Bring Supply Chain Innovators Together

July 23, 2024,Ottawa, Ontario, Canada : Kinaxis® Inc. (TSX:KXS), a global leader in end-to-end supply chain orchestration, today announced the launch of a new event series, ‘Supply Chain Unplugged’, that will bring together leading supply chain practitioners, thought leaders, partners and academia around the world for open, peer-to-peer conversations about the latest innovations, opportunities and challenges in supply chain management.

“With supply chains growing exponentially in complexity and scale, the need for knowledge-sharing forums that bring together like-minded people to discuss best practices for staying on top of a world undergoing seismic changes is crucial,” said John Sicard, president and CEO of Kinaxis.“From innovative brands pushing the boundaries of what’s possible to world-renowned academics conducting cutting edge research, we’re excited to convene a who’s who of the global supply chain community and are confident that attendees will walk away with valuable insights to foster greater resiliency within their businesses.”

In 2024, events are planned for North America, Europe and Asia and each stop of the series will feature compelling keynotes by industry experts, panel discussions on hot button industry issues, live demos/workshops of cutting-edge technologies and case studies showcasing how practitioners are driving real impact across their supply chains.

The series will kick off on July 23, 2024 at the state-of-the-art EY Digital Operations Hub at MxD in Chicago, Illinois and is sponsored by EY and Microsoft. Kinaxis President and CEO John Sicard will deliver the opening keynote on the transformative power of supply chain orchestration, followed by discussions exploring generative AI and the future of supply chains with executives from EY, Microsoft, Colgate, Westlake, AGCO and faculty members from Northwestern’s Industrial Engineering and Management Sciences department.

The new Supply Chain Unplugged event series comes on the heels of the company’s introduction of Kinaxis Maestro™, the only AI-infused supply chain orchestration platform. Unveiled at Kinexions, the company’s flagship annual community conference, Maestro incorporates new, modern AI technologies to help teams move faster and smarter to master the complexities of today’s modern supply chains.

Additional Supply Chain Unplugged destinations include Tokyo, Singapore, London, Rotterdam, Philadelphia, Pennsylvania; Madison, Wisconsin; Atlanta, Georgia; and more.

From building the first in-memory material requirements planning (MRP) engine in the 1980s to adopting a SaaS model years before its peers and launching the first cloud-friendly planning platform in the 2000s, Kinaxis has been at the forefront of every major technological innovation within the supply chain industry for the past four decades. Celebrating its 40th anniversary in 2024, Kinaxis helps companies that supply the agricultural industry with 40% of the world’s tractors, that keep more than 110 billion teeth clean each year, and that ensure more than 35 million pets are fed nutritious meals each year.

L&T Technology Services and SymphonyAI Partner to Provide AI-based Business Transformation to Global Customers Through Apex Enterprise Copilot

July 23, 2024,Palo Alto, Calif., United States & Bangalore, Karnataka : L&T Technology Services (BSE: 540115, NSE: LTTS), a leading global digital engineering and R&D company, and SymphonyAI, a leader in predictive and generative AI SaaS products for the enterprise, today announced they are partnering to bring transformative AI operations to enterprises worldwide. The solutions are delivered through SymphonyAI Apex Service Management, a predictive and generative AI-based IT service management/enterprise service management (ITSM/ESM) platform, and the Apex Enterprise Copilot, to turbocharge productivity, simplify work, and create delightful experiences for end users, analysts, and executives.

The partnership has already deployed AI-based Apex Service Management for a joint customer whose software-centric, cloud-native solutions provide high-quality media experiences across linear, on-demand, and OTT services. The joint customer benefits from the combination of its longstanding relationship with L&T Technology Services (LTTS) and Apex IT Service Management ease of adoption, low TCO, and API-based integration with third-party applications. Apex Information Technology Service Management, powered by SymphonyAI’s award-winning Eureka predictive and generative AI platform, delivers responsive, effective, and efficient enterprise systems management capabilities with a lightweight architecture to roll out new services and resolve service requests up to 50% faster using generative AI. In replacing its legacy ITSM system, the customer will reduce operating costs, increase analyst productivity across hundreds of analysts, and drive rapid ROI with the ability to quickly configure and ingest existing customer operations, records, and SLAs.

“L&T Technology Services’ proven track record of deep domain consulting expertise and a multi-vertical market leadership has established us as a trusted partner in digital transformation for the world’s top Fortune 500 companies. The synergy with SymphonyAI’s CoPilots and innovative service management platform delivers joint customers rapid, predictive ROI through a transformative enterprise platform,” said Alind Saxena, Executive Director & President – Mobility & Tech, at L&T Technology Services. “We are excited to provide flexible, powerful, and configurable solutions to customers worldwide.”

“The combined value of SymphonyAI and L&T Technology Services provides customers in multiple industries the powerful benefits of digital transformation with leading predictive and generative AI,” said Kumar Abhimanyu, senior VP and global head of strategic partnerships at SymphonyAI. “With deep domain expertise and specialization solving real-world business problems with advanced AI, the partnership delivers unique benefits for innovative organizations worldwide.”

“SymphonyAI continues to invest aggressively in extending industry leadership and innovation via its Apex platform and the generative AI-based Enterprise Copilot. Both deliver major improvements for teams deploying new services and providing seamless self-service for end users,” said Satyen Vyas, President of SymphonyAI’s enterprise IT division. “We are pleased to partner with LTTS and leverage their latest cutting-edge AI-enabled innovations to give customers easy-to-use, intuitive, speedy, cost-effective IT and enterprise service management and workflow automation for vastly improved productivity, ROI, and user satisfaction.”

TOM FORD Announces the Departure of Creative Director Peter Hawkings

July 23, 2024, New York, United States : TOM FORD announced today that Peter Hawkings is stepping down as Creative Director of the brand. Peter Hawkings has been at TOM FORD since its inception and at the helm of creative since April 2023.

“I would like to express my gratitude to Peter for his exceptional contributions to TOM FORD from the very beginning,” said Guillaume Jesel, President and CEO, TOM FORD and Luxury Business Development, The Estée Lauder Companies.

“I want to thank Peter for his collaboration since TOM FORD FASHION became part of the Ermenegildo Zegna Group. Along with his team, Peter has contributed to this important initial phase of development. I wish him all the best in his next chapter,” said Lelio Gavazza, CEO of TOM FORD FASHION.

The Spring-Summer 2025 collection will be presented in the Milan showroom in September 2024. A successor will be announced in the near future.

HDFC Life Achieves 99.50 percent Claim Settlement Ratio

July 23, 2024,Mumbai, Maharashtra, India : HDFC Life, a leading life insurer in India, continues to uphold its commitment to policyholders with a consistently high claim settlement ratio.

Life insurance is a long-term commitment, ensuring financial security for loved ones in the policyholder’s absence. A key measure of a life insurer’s reliability is its ability to settle genuine claims promptly and efficiently. When choosing a life insurer, customers often look at the claim settlement ratio over time to gauge the company’s trustworthiness.

HDFC Life stands out among private life insurers for its performance in this area. In FY24, HDFC Life achieved an overall claim settlement ratio of 99.50%*, disbursing Rs. 1,584 crores for 19,338 policies. This follows high ratios of 98.66% in FY22 and 99.39% in FY23, in retail claims.

*Individual death claim settlement ratio by number of policies as per audited annual statistics for FY24.

To facilitate claim submissions, HDFC Life offers a robust mechanism allowing claimants to request and submit documents through multiple media/touch points and without having to mandatorily visit a branch for such servicing requirements. HDFC Life also educates customers on the importance of full disclosures regarding health and any material information that could impact the claims process. For individual claims older than three years from the policy start date, the company offers same-day settlement, provided all necessary documents are received and no further investigation is required.

Speaking on this, Vibha Padalkar – Managing Director & CEO, HDFC Life said, “Claim settlement is a critical service differentiator for us. Our promise to every policyholder is to settle claims smoothly and efficiently. We are dedicated to providing superior service at every stage of the policy lifecycle, reflecting our commitment to financially securing India.”

Earlier in the year, HDFC Life declared its highest ever bonus of Rs. 3,722 crores on participating plans during its April 2024 board meeting. This bonus is split between policies eligible for maturity benefits or cash bonuses and those payable in the future upon policy maturity, death, or surrender.

Xsolla Expands Support for Game Developers Through the Greater China Region Launch, Marking a New Era in the Gaming Industry

July 23, 2024,Beijing, China : Xsolla, a global video game commerce company known for its extensive suite of tools and services specifically designed for the game industry, is thrilled to announce the grand opening of the Xsolla Greater China Region office. The opening event will occur on Monday, July 22, 2024, at D-06 Parkview Green Fangcaodi, Chaoyang District, signifying a renewed commitment to enhancing and growing the video game industry in China and worldwide.

The expansion of the Xsolla Beijing office embodies a vision to serve as a humble partner and provide access to the tools and services for everyone in the gaming community, assisting companies with ambitions to navigate and reach emerging markets swiftly. This expansion is not just a physical establishment; it is the center of China’s technology and gaming community.

Under the theme “Equal Access for Everyone,” the opening ceremony is expected to gather industry leaders, esteemed partners, and media representatives to witness the unveiling of a new chapter that promises to bring forth opportunities, foster talent, and encourage the creation of groundbreaking gaming experiences. The event will feature various performances and interactive sessions designed to encapsulate the spirit of exploration and the limitless potential of the gaming industry.

A highlight of the ceremony will be introducing specialized programs and partnerships to bolster the growth of the gaming ecosystem in China, which is extended by geographical borders. These initiatives include strategic collaborations with key platforms and creators to provide comprehensive marketing support, enhance game development, and optimize monetization strategies, laying the groundwork for Chinese games to thrive globally.

Jingbo Chen, Head of the Greater China Region, will share insights on Xsolla’s strategic goals and visions for the market. “The opening of our office in Beijing marks a pivotal step in Xsolla’s journey to facilitate the global expansion of games created and developed in China. Our commitment is to be the cornerstone for developers and publishers, offering them a gateway to explore and excel in international markets,” stated Jingbo.

Berkley Egenes, Chief Marketing Officer and Chief Growth Officer of Xsolla, added, “The establishment of our Beijing office is a testament to our belief in the potential of local game developers and their creations on the global stage. By fostering closer collaborations and providing direct support, we are excited to play a part in showcasing China’s gaming innovation to the world. This initiative underscores our dedication to empowering the gaming community, ensuring our partners have the tools and resources to succeed in an increasingly competitive market.”

Stay tuned for more updates, and follow Xsolla on WeChat to stay updated on the Greater China Region’s endeavors and upcoming projects. Follow and get involved in the discussion at:

SmartHomes Infrastructure Pvt. Ltd. Launches Dholera Forest Estate

July 23, 2024,Ahmedabad, Dholera, Gujarat, India : SmartHomes Infrastructure Pvt. Ltd. proudly announces the launch of Dholera Forest Estate, setting a new benchmark as the first-ever forest-themed plotted development project in Dholera Smart City. Spanning an expansive 2.08 lakh sq yards, this innovative project not only promises sustainability but also offers robust returns for investors across generations.

“Our commitment to environmental stewardship and our deep reverence for nature have inspired us to create Dholera Forest Estate,” says Rupinder Singh, Founder of SmartHomes Infrastructure Pvt. Ltd. “Imagine a haven where meticulously landscaped gardens, serene wooden footbridges, and an abundance of trees converge to create an idyllic setting for sustainable living and prudent investment.”

Singh further elaborates, “Beyond creating residences, we envision crafting a lifestyle imbued with wonder, joy, and luxury through a harmonious blend of natural elements and architectural excellence. Dholera Forest Estate is more than a community; it’s a legacy that promises boundless happiness to residents and substantial potential to investors alike.”

Located on the outskirts of Dholera SIR, Dholera Forest Estate enjoys seamless connectivity via multiple access roads. The estate features extensive green spaces, tranquil walkways through woodlands, a tree house, a vibrant festive lawn, children’s play areas, a state-of-the-art clubhouse for diverse activities, and a serene temple. Additionally, the project includes a Forest Shopping Arcade with 50 commercial plots, enhancing convenience and commerce within the township.

As SmartHomes Infrastructure Pvt. Ltd. launches Dholera Forest Estate, we embark on a journey to redefine urban living in Dholera Smart City. With a steadfast commitment to sustainability and innovation, this landmark project not only sets a new standard for residential development but also creates a harmonious environment where nature thrives alongside modern comforts. Dholera Forest Estate stands as a testament to our vision of building communities that inspire and endure, offering residents a place to call home and investors a gateway to long-term prosperity. With its strategic location, thoughtful design, and unparalleled amenities, Dholera Forest Estate invites everyone to experience a lifestyle enriched by nature’s beauty and the promise of a prosperous future.