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“AYUSH” finds a place in English Language

The Commission for Scientific and Technical Terminology has decided to adopt the word ‘AYUSH’ in Hindi and English languages for scientific and technical purposes. The “AYUSH” became popular as the acronym for five traditional and complementary systems of medicine, namely Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy and successfully adopted and used in all Government communications. The decision follows a proposal from the Ministry of AYUSH in this regards.

 

India Calls for Judicious Use of Resources at 4th Brics Ministerial Meeting in Durban

India has called for a judicious use of resources amidst concerns over resource depletion and scarcity.  Addressing the 4th BRICS Ministerial meeting in Durban, South Africa today, Union Minister for Environment, Forest and Climate Change, Dr. Harsh Vardhan has said that a decrease in global materials, or at least stabilization at present levels, demand major reductions in metabolic rates in the Asia-Pacific region, especially India.   He pointed out that this can become possible only through Resource Efficiency (RE) not only throughout the material life cycle, but also at the post-consumption stage.  The Minister added that secondary resources (waste materials) need to be brought back into production, adopting a Circular Economy (CE) approach.

 

NITI Aayog’s three day Venture Capital Symposium 2018 begins

NITI Aayog, in association with Vision India Foundation, is organising the Venture Capital Symposium 2018 to deepen the economic relationships between France and India. Following the visit of French President Emmanuel Macron, 20 of the biggest French venture capital and private equity funds are coming to India to explore investment opportunities.

The Venture Capital Symposium 2018 is a three day event where the French investors will be interacting with 100 early to mid-stage Indian start-ups.

 

Himachal Govt Sanctions Rs 25 Cr For Renovating Bantony Castle

The Himachal Pradesh government will spend 25 crore rupees on renovating and developing the historic British Raj ‘Bantony Castle Estate as a major tourist attraction. The Bantony Castle, owned by a business family and housing the state police headquarters, was acquired by the government for over 27 crores two years ago.

 

Tata Steel To Acquire Bhushan Steel Through Its Step-Down Subsidiary Bamnipal Steel

Tata Steel, whose bid for debt-ridden Bhushan Steel was approved by NCLT, would implement the resolution plan through its step-down subsidiary Bamnipal Steel Ltd. Bamnipal Steel would invest in the debt-ridden company and acquire control on the closing date. As per the terms of approved Resolution Plan, Bamnipal Steel Limited (BNPL), a wholly-owned subsidiary of Tata Steel, will initially subscribe to 72.65% equity share capital of BSL at face value i.e. at Rs 2 per share, for an aggregate amount of Rs 158.89 crore.

 

Infosys partners 7 banks for blockchain-based solution

Infosys has set up a blockchain-based trade network in India, in partnership with seven banks.

Called India Trade Connect, it includes Axis Bank, ICICI Bank, IndusInd Bank, RBL Bank, Kotak Mahindra Bank, South Indian Bank and YES Bank.

The range of functions include bill collection, Letters of Credit, opening accounts, customer-to-customer transactions, business-to-customer transactions, and invoice financing.

 

Tata Sons appoints Harish Manwani as independent director

Tata Sons, the holding firm of all Tata Group companies, has appointed Harish Manwani as an independent director. With this induction, the total number of directors on Tata Sons’ board has increased to 12.

Manwani, the former Global Chief Operating Officer for Unilever and non-executive chairman of Hindustan Unilever, is also a global executive adviser to PE major Blackstone.

 

Droom partners with Toyota for international expansion

Automobiles marketplace start-up Droom has partnered with Japanese car-maker Toyota Tsusho Corporation, a member Toyota Group, to enter the South East Asian market.

The company will leverage Toyota’s dealership network, inventory and leadership for their international expansion. The partnership will focus on South East Asian countries such as Indonesia, Thailand, Singapore, Malaysia, Myanmar, Cambodia, the Philippines and Vietnam that have more than 25 million internet population and has fragmented dealership network.

 

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