• The first foreign bank in India to obtain a wholly-owned subsidiary (WOS) license from the Reserve Bank of India
• To expand Indian network with 6 new branches in Delhi, Bangalore, Kolkata, Pune, Ahmedabad & Jaipur by next year
• Through India foray, SBM plans to also tap the India-Africa trade corridor

Mumbai, 31^st July, 2018: SBM Group, a diversified financial services provider and the third largest listing on the Stock Exchange of Mauritius, today announced its expansion plans for the Indian market.

SBM is the first foreign bank in India to obtain a WOS Licence from the Reserve Bank of India. The bank will soon operate as a banking subsidiary of SBM Group in India under the name of SBM Bank (India) Ltd. This new structure will provide more leeway for SBM in its branch expansion strategy.

Established in 1994 in India, SBM currently operates four branches, namely located in Mumbai, Chennai, Hyderabad and Ramachandrapuram. To capture a wider market and increase its customer base, SBM plans to launch six new branches in Delhi, Bangalore, Kolkata, Pune, Ahmedabad and Jaipur by next year. The bank offers a diverse suite of products and services in the Indian market including deposits, advances, NRI Services, treasury products and trade finance services. It plans to revamp its customer base and solutions offering in line with its growth strategy.

Besides establishing a robust domestic franchise in India, SBM expects to capitalize on its geographic network in East Africa and the Indian Ocean region to add value to customers. It is reckoned that there is growing interest in trade and investment along the India-Africa corridor, where SBM can play an important role in financing and structuring.

Speaking at the occasion, Mr. Moses Harding John, CEO, India & East Africa, SBM Holdings Ltd. said, “One of the reasons for SBM to start its international footprint in India is because of the strong links that exist between these two countries with around three-quarters of the Mauritian population being of Indian origin. This is a focused effort by SBM to grow its cross-border banking business and widen physical presence in geographies with untapped growth potential for better customer reach. With domestic expansion programme, SBM will continue to grow outside Mauritius.”

About SBM Group:

Established in 1973, SBM has a strong franchise in Mauritius, with a market share of more than 20% in domestic advances and deposits. The Group is also present in Madagascar, India and Kenya.

The Tier 1 capital of SBM Group (SBM Holdings Ltd and its subsidiaries) stood at some USD 600 million as at 31 December 2017. The Group is consistently ranked among the top 1,000 world banks by The Banker magazine, a publication of the Financial Times.

SBM Group proposes a broad range of financial solutions to its clients. In addition to a comprehensive range of banking services, SBM proposes non-banking financial services such as investment banking, private wealth advisory, and stockbroking and asset management. The Group also operates a non-financial cluster for investments.

The Group services its clients through multi-channel capabilities, including branches and counters, ATMs, POS, internet banking, mobile banking, e-commerce portal and call centre, to deliver a seamless customer experience.

The post SBM Bank India to double its network by next year, announces plans under WOS licence appeared first on Core Sector Communique.

Highly anticipated mid-year introduction of Software-as-a-Service cloud-based platform will meet growing unified communications needs of regulated users in the region

HONG KONG – January 9, 2018 – IPC, a leading global provider of secure, compliant communications and networking solutions for the financial markets community, today announced that it plans to introduce Unigy 360, its highly anticipated Software-as-a-Service (SaaS) solution, to the Asia Pacific (APAC) market later this year. IPC has been at the forefront of innovative communications solutions that meet the needs of financial market participants throughout Asia.

“With greater collaboration and mobility among front, middle and back offices a critical dynamic for an expanding population of regulated users in Asia, now more than ever financial market participants in the region will be able to benefit from the unified communications Unigy 360 enables through a single platform,” says David Dodd, Senior Vice President and Managing Director, Asia-Pacific, IPC.  “In addition, IPC’s solutions have the potential to provide compliant communications and recording systems management. As a result, customers can rely on holistic and secure solutions to further their business strategy in a digital age.”

Unigy 360 is a SaaS solution performance-engineered to deliver innovation, economics and powerful new capabilities for global financial market participants. Unigy 360 offers the advantages of IPC’s industry-leading Unigy® platform for unified communications and applications along with the simplicity and scalability of a cloud-based solution. The solution also includes the Unigy 360 application, which provides reliable, secure and “anytime, anywhere, any device” access to counterparties, liquidity, and trade lifecycle services.

The broad range of market participants that implement the Unigy 360 solution become an integral part of one of the world’s largest and most diverse financial ecosystems comprising buy-side firms, sell-side firms, inter-dealer brokers, listed and OTC liquidity venues, trade lifecycle service providers, market data vendors and clearing/settlement firms. All regulated users in a firm, including traders, researchers, portfolio managers, risk managers, compliance professionals, technologists, settlement personnel and operations staff, can leverage Unigy 360 for mission-critical external communications and internal workflows.

IPC has offices throughout the Asia Pacific region, including Beijing, Hong Kong, Jakarta, Kuala Lumpur, Melbourne, Mumbai, Seoul, Shanghai, Singapore, Sydney, Taipei, and Tokyo.

About IPC
IPC is a technology and service leader that powers financial markets globally. We help clients anticipate change and solve problems, setting the standard with industry expertise, exceptional service and comprehensive technology. With customers first and always, we collaborate with each to understand their individual needs to help make them secure, productive and compliant within our connected community. Through service excellence, long-developed expertise and a focus on innovation and community, we provide agile and efficient ways for our customers to accelerate their ability to adapt to the ever-changing requirements for advanced data networks, compliance and collaboration with all counterparties across the financial markets. www.ipc.com

The post IN MOVE TO FURTHER ASIA PACIFIC FINANCIAL MARKETS EXPANSION, IPC ANNOUNCES PLANS TO INTRODUCE UNIGY 360 appeared first on Core Sector Communique.

~ These experience zones form a key element of their Expansion Strategy ~

New Delhi, January 8, 2018: B2BAdda.com, an exclusive e-Distribution platform for bulk buying, selling for brands, retailers, wholesalers, corporate companies, etc., plans to invest Rs 15Mn to expand its Experience Zones base to 20 by 2018. Since the launch of its first Experience zone in June 2017, B2BAdda.com has invested Rs 8Mn in these offline zones enabling its customers to have a hands-on experience with the products before buying them.  The brand plans to provide its customers with 12 more Experience Zones by the end of the year.

With the presence of its experience zones in Delhi, Mumbai, Bangalore, Hyderabad, Jaipur, Cochin, Ludhiana, and Bhopal each, the brand recently launched its 9^th Experience Zone in Vijayawada, Andhra Pradesh on 6^th Jan 2018, making it the first Indian online B2B platform to have created such a network.

The experience zones are of many advantages to the Business customer who travels daily to the B2B market to get products and deals; the brand is offering the same services at his doorsteps.

These experience zones also form a key element of their Expansion Strategy as the company plans to expand their reach in the nooks and corners of the country and empower manufacturers, distributors, retailers, & customers, who are otherwise fragmented in the diversified physical market, to gather under one technology platform to conduct transactions more efficiently than conventional systems.

Commenting on the initiative, Mr. Yogesh Bhatia, Founder, B2BAdda.com (Wow eCarts Pvt. Ltd.), said, “B2BAdda.com works on the ideology of transforming offline B2B business to e-B2B business, further propelling the Digital India initiative of the Government of India. E-distribution platforms can help the retail industry go cashless and at the same time become more transparent and these experience zones serve as a touch point with customers in the mobile markets of India. We aim to bring the majority of the offline B2B transactions under the umbrella of digitization by training, helping, and consulting our business customers in making B2B transactions online. We aim to launch 50 Experience Zones in top 50 cities in India by 2020”

“Customers can come and know about B2BAdda, obtain information on how to use the website and app, and get the registration done for daily product offers and make bulk purchases as now, India is now switching from offline distribution network to e-Distribution”, he further added.

Business-to-business (B2B) e-commerce market is gradually maturing across the world, whereas in India it is still at the nascent stage. Experts have predicted that India’s B2B industry will be worth Rs 45 lakh crore by 2020. Since 2014, the Government of India has announced various initiatives namely, Digital India, Make in India, Start-up India, Skill India and Innovation Fund. The timely and effective implementation of such programmes is supporting the e-commerce growth in the country.

B2BAdda.com is an exclusive e-distribution partner for Detel Mobiles, LED Tv’s & Accessories and Edge Mobiles & Accessories. It deals across the categories- Mobile & Tablets, IT Products, and Complete Electronic Product Range. It will be adding more categories soon.

About B2BAdda.com:

Established in 2015, B2Badda.com is an exclusive e-Distribution platform for bulk buying, selling for brands, retailers, wholesalers, corporate companies, and institutions.

B2Badda.com is a part of Wow eCarts Pvt. Ltd. (a subsidiary of the S. G. Group) and has nationwide coverage with over 16 branches and warehouse locations. The platform’s reach will soon be deeper, much more comprehensive and detailed as compared to the traditional network. B2Badda.com has strengthened its IT and has a well-built communications network. One can log on to B2Badda through the website or mobile app and can access the entire range of products, avail offers directly, receive doorstep deliveries and pay by COD, Bank transfer, etc.

The brand provides a single purchasing point window, transparent value pricing, fast shipment and quick delivery, consistent availability of products and easy & multiple payment options.

The post B2BAdda.com plans to invest Rs 15Mn to expand its Experience Zones base by the end of 2018 appeared first on Core Sector Communique.

 Oxford Business Group launches new publication on East African economy

Nairobi, May 2017: A new report just produced by the global research and consultancy firm Oxford Business Group (OBG) shines a spotlight on Kenya’s ambitious infrastructural drive, which is playing a key role in boosting GDP growth.

The Report: Kenya 2017 pinpoints the opportunities emerging on the back of the country’s project pipeline, with real estate, power and transport infrastructure among the segments ripe for development.

Kenya’s ongoing industrialisation is also explored in OBG’s report, with a particular focus on the manufacturing sector, which has continued to gain momentum, despite low commodity prices and rising competition.

Having carved a niche as a major regional transit hub, transport and logistics remain at the core of Kenya’s economy. The Report: Kenya 2017 looks at the benefits that sound investment in related infrastructure has brought to the country, especially at the Port of Mombasa, which is a strategic landing point for goods earmarked for neighbouring markets.

The country’s tourism industry, now rallying after a period of decline and benefiting from heightened security support, is also analysed. Other topics examined include the government’s decentralisation drive, which has helped to produce new opportunities across several of Kenya’s lesser tapped provinces.

The Report: Kenya 2017 contains a contribution from President Uhuru Kenyatta, together with a detailed, sector-by-sector guide for investors. It also features a wide range of interviews with other high-profile personalities, including: Patrick Njoroge, governor, Central Bank of Kenya; Brigitte Zypries, federal minister of economic affairs and energy of Germany; and Akinwumi Adesina, president, African Development Bank.

Oliver Cornock, OBG’s Editor-in-Chief, said a diverse economy and strong private sector had helped Kenya to maintain its position as a regional powerhouse, viewed among investors as a  destination for FDI with a track record of sustained growth.

“Unlike many of its peers, Kenya’s economy is broad based rather than overly reliant on the extractive industries, which has given it an advantage in the current climate of low commodity prices,” he said. “Other potential strengths, such as a sizable, young workforce and promising new finds in the form of oil, gas and water reserves, will also support new growth, if harnessed effectively.”

OBG’s managing editor for Africa, Robert Tashima, agreed that while a combination of external pressures had led to slowdowns in a number of Africa’s larger economies, Kenya had so far managed to sidestep the worst of it, recording a steady growth rate in excess of 5%.

“Although there are plenty of challenges, including stubborn poverty levels in the north and a large informal sector, Kenya’s aggressive reforms to the business environment, along with a high financial inclusion rate, developed transport infrastructure and a diversified private sector, have left the country well placed to sustain its upward trajectory,” he noted.

The Report: Kenya 2017 marks the culmination of more than nine months of field research by a team of analysts from Oxford Business Group. The publication assesses trends and developments across the economy, including those in macroeconomics, infrastructure, banking and others. The Report: Kenya 2017 is available in print and online.

About Oxford Business Group

Oxford Business Group is a global research and consultancy company with a presence in over 35 countries, from Africa, Asia and the Middle East to the Americas. A distinctive and respected provider of on-the-ground intelligence on many of the world’s fastest growing markets, OBG has offices in London, Berlin, Dubai and Istanbul, and a network of local bureaus across the countries in which we operate.

The Report: Kenya 2017 has been produced with KenInvest and the Kenya Private Sector Alliance. Contributions have also been made by Kenya Association of Manufacturers,

Genghis Capital, EY and Anjarwalla & Khanna.

Through its range of products, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, tourism, energy, transport, industry and ICT. OBG provides business intelligence to its subscribers through multiple platforms: Economic News and Views, OBG Business Barometer – CEO Survey, Roundtables and Conferences, Global Platform – exclusive video interviews, The Report publications and Consultancy division.

The post KENYA’S AMBITIOUS REFORMS AND PLANS FOR SUSTAINED GROWTH HIGHLIGHTED IN 2017 REPORT appeared first on Core Sector Communique.

Tata Communications MOVE global mobility platform is built on the company’s partnerships with 900 mobile communications service providers and new 35% stake in Internet of Things solution provider Teleena

London, UK – February 23^rd, 2017 – Tata Communications, a leading provider of A New World of Communications, today announces its entry into the global USD 4 billion mobile data connectivity and cross-border Internet of Things (IoT) market. The company is unveiling the Tata Communications MOVE platform that will enable people and things to become seamlessly connected on a global scale.

“With more than 3 billion Internet users globally and billions more connected ‘things’ from activity trackers and smart home hubs to connected cars and street lights, we live in a truly digital world,” said Anthony Bartolo, President, Mobility, IoT and Collaboration Solutions, Tata Communications. “We believe that the future of this digital world lies in how all of these ‘things’ connect – and that everything should be born connected. So, imagine a world where there could be embedded connectivity within everything – straight out of the box, with instant and seamless access to the Internet, anywhere in the world. That’s our aim with Tata Communications MOVE. It is a platform that enables companies to embed global connectivity in anything, improving the user experience, creating completely new revenue streams, and fulfilling the promise of a truly digital world.”

Tata Communications MOVE is part of the company’s long-term strategy for its mobility services portfolio and its vision of creating an access and usage agnostic, cross-border mobile experience for people and things. The platform is underpinned by Tata Communications’ global network, partnerships with 900 mobile communications service providers globally, and recent investment in Teleena. Teleena is an IoT connectivity specialist and mobile virtual network enabler, whose technology manages the operational complexity and reduces the cost of IoT deployments for businesses. Tata Communications’ investment has made it the single largest shareholder in Teleena with a 35% stake.

The combination of Teleena’s IoT technology and Tata Communications’ global network – which today connects 4 out of 5 mobile subscribers – lowers the barriers for brands to introduce new IoT-enabled services for engaging with consumers in new ways. Underpinned by enterprise-grade secure connectivity across 240 countries and territories, Tata Communications MOVE also paves the way for new industrial IoT applications to generate operational efficiencies in sectors such as manufacturing and logistics.

In the first phase of the roll-out of Tata Communications MOVE, the platform encompasses global cellular IoT and SIM connectivity, with further enterprise and mobile network operator capabilities to follow later in 2017, enabled by the world’s largest and most advanced wholly-owned network. Over 25% of the world’s Internet routes travel over Tata Communications’ network, and the company is the only Tier-1 network provider that is in the top 5 by routes in 5 continents.

“The market needs large-scale operators such as Tata Communications that are able to scale up activity in a market so far populated by small commercial aggregators and mobile virtual network operators[1],” said Dario Talmesio, Principal Analyst and Practice Leader, Europe, Ovum.

Vinod Kumar, CEO and Managing Director of Tata Communications, said: “With global, ubiquitous connectivity comes the power to unleash unimaginable possibilities in how brands serve and engage with their customers and partners, redefining business models across industries. As a company that has built unparalleled global network reach and platforms that simplify and accelerate cloud and data-powered innovation over the last 15 years, today marks an inflection point for our business with the introduction of Tata Communications MOVE, which will serve to unlock the next phase of connectivity for humans and machines.”

[1] Global Connectivity: OEMs Become Connectivity Providers”, Dario Talmesio, Ovum, 28 August 2015

The post Tata Communications unveils plans to enable everyone and everything in the world to become seamlessly connected appeared first on Core Sector Communique.

Erbil, Iraq, 30 January 2017 – The Government of France, through the European Union Civil Protection Mechanism, has swiftly responded to an appeal byWHO and the Ministry of Health, Iraq for urgent medicines and medical supplies to manage the overwhelming number of casualty caseloads coming from East Mosul.

The shipment consists of 20 surgical kits sufficient to conduct 2,000 surgical procedures, half of which will go to each of the two main referral hospitals in Erbil, Northern Iraq. It also contains lifesaving medicines sufficient to serve the needs of 12,000 patients.

“As we walked through the corridors of West Emergency hospital in Erbil and other hospitals receiving wounded patients in Iraq, we witnessed the emotional and physical scars and heard about the unimaginable horrors suffered by men, women, girls and boys targeted and innocently caught in the middle of this tragic crisis as they went about their normal lives. This support is especially timely,” said Mr Altaf Musani, WHO Representative in Iraq.

“This support represents a partnership for humanity. We are very confident that this donation will have a direct impact in alleviating the suffering of thousands of people who have endured years of hardship. This includes the injured who have sustained shell injuries and gunshot wounds that will require a significant time of recovery and rehabilitation,” added Mr Musani.

So far more than 3,300 casualties from east Mosul, many of whom are women and children, have been treated in the two hospitals since 17 October 2016.

Since the beginning of the Mosul operations, the Federal Ministry of Health and the Regional Ministry of Health, Kurdistan Regional Government, with the support of WHO, have trained 60 medical doctors to better manage caseloads of injured patients coming out of Mosul on advanced techniques to deal with surgical interventions needed to sustain lives.

WHO has also provided lifesaving medical supplies for patients in and around camps, hospitals within Mosul and other parts of Iraq. More than 20 trauma kits sufficient to conduct 2,000 surgeries and over 15 surgical kits enough for 1500 injured patients were delivered to hospitals and trauma stabilization points.

As the frontlines move towards west Mosul, WHO and partners anticipate a much higher number of trauma cases in the coming months. These will require urgent and critical trauma care. As the capacities in the two hospitals in Erbil are expanded and strengthened, they will be better prepared not only respond to the critical trauma needs of cases from Mosul but the needs of all people in Erbil seeking emergency services.

The post WHO scales up response to critical trauma needs as plans for West Mosul operations intensify appeared first on Core Sector Communique.

Reinforces its growth strategy through second phase of value addition in the new plant with a capacity of 15000 MTPA

30 January 2015, Tuticorin: V.V. Titanium Pigments, a leading producer and exporter of Anatase grade Titanium Dioxide is planning to invest Rs. 1000 million as a part of its expansion strategy into a Coated Rutile Plant. This is one of the largest investments made by any private entity exclusively for meeting the demand of discerning Indian Tio2 consumers. The Coated rutile plant is expected to be operational by 2016 first quarter. This is the second time when VVTi has forayed into value–addition of Heavy Mineral Mining with a capacity of 15000 MTPA Tio2. As a part of this project, VVTi has successfully launched Basic rutile by 10 Dec 2014.

The state of art plant is to be built with German know how will be environmentally sustainable as there will be less dependence on water, almost 1/3 savings as compared to any similar plant. Moreover, the new plant when operational will provide direct employment to more than 200 people and indirect benefit to more than 5,000 people. This is slated to be the next big project after VV  group acquired Kilburn Chemicals, currently known as V V Titanium Pigments at Tuticorin which produces Titanium Dioxide from Ilmenite. The new plant will use Rutile and cater fully to the Indian market that has been clamouring for such value addition projects with an estimated foreign exchange savings to the tune of Rs.2500 million per annum. In addition, it will benefit the indigenous paints and plastic industry that has to depend on exports from China, Japan and western countries.      

With this launch, the Group is planning to capture a sizeable TiO2 market given the enormous potential of mineral resources in India. The demand for TiO2 in India is about 3,00,000 mtpa but the country produces only 60,000 mtpa.  Indian import of TiO2 comprises 74% of Rutile grade of total imports as of October 2014. Most of rutile sand and ilmenite is processed into non-toxic white titanium dioxide pigments for use in the manufacture of paints, plastics, paper, textiles, cosmetics and ceramics. Ilmenite and rutile sand are also used to produce titanium metal for use in aircrafts, spacecrafts, motor vehicles, desalination plants and surgical implants.    

Mr. V. Subramanian, Managing Director – V V Group of Companies, said: “We are excited about announcing the Coated Rutile Plant project and commercial production of base rutile TiO2 which will bridge the demand supply gap faced by our country. We are positive about the value proposition once the new coated rutile plant is functional as this is ‘Made in India’ catering to Indian market. We are confident that the new German energy-efficient technology would help develop a zero-waste manufacturing facility, a first of its kind in India.”

With safety, health and environment protection high on its corporate agenda, V V Titanium Pigments Private limited, an IMS CERTIFIED COMPANY, is committed to conduct business with a strong environment conscience, so as to ensure sustainable development, safe work places and enrichment of the quality of life of its employees, customers and the community.

The post VV TITANIUM PIGMENTS PLANS TO INVEST RS. 1000 MILLION IN COATED RUTILE PLANT appeared first on Core Sector Communique.

Medio’s predictive analytics technology strengthens HERE location intelligence capabilities

The post HERE plans to acquire Medio Systems Inc. appeared first on Core Sector Communique.