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Saturday, September 08, 2018

Prabhu asks Tourism minister to set up IITTM at Ratnagiri or Sindhudurg
Commerce and Industry Minister Suresh Prabhu has urged his Tourism counterpart to set up Indian Institute of Tourism and Travel Management (IITTM) at Ratnagiri or Sindhudurg to promote the development of this region. In a letter to Tourism Minister Alphons Kannanthanam, he said the Konkan region with its 700 km coastline has huge potential to promote the region as a tourist destination and opening a branch of IITTM, Goa there may not help in actualising this potential fully. Establishment of a full-fledged institute will not only be a booster for greater tourism but will also provide much necessary fillip to the overall economic development in this backward region, the commerce minister said.

Tech Mahindra, Avaamo partner to develop conversational AI platform
IT company Tech Mahindra yesterday announced partnership with Avaamo to develop and deliver conversational artificial intelligence (AI) platform for global enterprises. "Conversational AI is the next frontier of enhanced intelligence as humans and machines harmonise to enable connected experiences. Virtual assistants are already disrupting the customer experience space. Avaamo and Tech Mahindra have a shared vision - to implement cutting-edge AI solutions, specifically in the banking, telecom, retail and healthcare industries," Jagdish Mitra, Chief Strategy and Marketing Officer, Tech Mahindra, said in a statement. This partnership will include developing and delivering conversational AI solutions for global enterprises. "Tech Mahindra will evangelise Avaamo's enterprise products and build solutions around platforms in areas such as the internet of things, artificial intelligence, and machine learning," the statement said.

Classic Steels introduces new range
Classic Steels recently introduced stainless steel vaccuum flasks and bottles with a guaranteed maintaining of 12 hours for hot and 24 hours for cold beverages. Classic Steels was established in the year 1985 by Kantilal Premji Maru (Giju Bhai). Today, Classic Steels is one of the leading brands in India and largest manufacturers of stainless steel utensils in Mumbai. These flasks and bottles are made from highest quality stainless steel and they are rust free with scratch resistant coating. The company has also introduced Fruit Infuser cum Water Bottle which preserves anti –oxidant properties of beverage. The company is an integrated stainless steel utensils manufacturers with a network of about 500 distributors and over 5,000 retail shops spread across India and exports its products across the globe.

MCOA to felicitate teachers
Established in the year 2000, Maharashtra Class Owners’ Association (MCOA) which is a non-profit making association of class-owners in Maharashtra have decided to felicitate teachers having outstanding contribution in the field of Education on September 09, 2018 at King George Auditorium in Mumbai. To name a few dignitaries expected to be present at the event are Manohar Joshi, Ex Chief Minister, Ex. Speaker; C. Vidyasagar Rao, Governor of Maharashtra; Nitin Potdar, Corporate Lawyer and partner of top legal firm J.Sagar & Associates as a Chief Guests and Jagdeep Kapoor, Brand Guru, Samsika Marketing Consultants would be amongst the Guest of Honor. Eminent personalities from the coaching class industry like JK Shah, Chairman, JK Shah Classes; Mahesh Shetty, Chairman, Mahesh Tutorials Educare Ltd.; Sanjeev Gala, Marketing Head, Navneet Ltd. amongst others would also be attending the event.

RBI tweak norms for exchange of torn currency
The RBI yesterday tweaked norms for exchange of mutilated currency notes following introduction of Rs 2,000, Rs 200 and other lower denomination currencies. Post demonetisation in November 2016, the Reserve Bank has introduced Rs 200 and Rs 2,000 notes. Besides, it came out with smaller notes of Rs 10, Rs 20, Rs 50, Rs 100 and Rs 500. Public can exchange banks mutilated or defective notes at RBI offices and designated bank branches across the country for either full or half value, depending upon the condition of the currency.

FinMin shortlists 11 CPSEs for share buyback
The Finance Ministry has shortlisted about a dozen companies, including Coal India, NTPC, NALCO and NMDC, for a possible buyback of shares in the ongoing financial year. The other companies which are in the list include NLC, BHEL, NHPC, NBCC, SJVN, KIOCL and Hindustan Aeronautics, officials said. Earlier this week, the Department of Investment and Public Asset Management (DIPAM) discussed buyback option with these companies, following which the list has been drafted. These CPSEs have been asked to buyback the shares following the capital restructuring guidelines set out by DIPAM on May 27, 2016. Officials however said in view of the business plans of CPSEs, not all in the list would be able to buyback the shares in 2018-19.

Bajaj Auto shares surge over 5%; m-cap rises by Rs 4,072 cr
Shares of Bajaj Auto yesterday surged over 5% on the back of the company's plans to expand three-wheeler and quadricycle capacity to one million units per year. The stock soared 5.06% to settle at Rs 2,924 on BSE. During the day, it gained 5.41% to Rs 2,934. At NSE, shares of the company surged 5.13 per cent to close at Rs 2,926. The company's market valuation rose by Rs 4,071.92 crore to Rs 84,610.92 crore on BSE. "Bajaj will shortly enhance its production capacities of three-wheelers and quadricycles to one million per year," Bajaj Auto said in a statement on Thursday.

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