PVR widens its reach, buys SPI Cinemas for ₹ 633 crore

download (1).jpgSource: LiveMint.com, Aug 13, 2018

PVR Ltd on Sunday said it has agreed to buy a 71.7% stake in SPI Cinemas Pvt. Ltd for ₹ 633 crore—a move that will help India’s largest multiplex operator boost its presence in the lucrative south Indian market. The acquisition of SPI, the largest cinema exhibitor in south India, will make PVR the seventh largest cinema exhibitor in the world. On completion of the acquisition, PVR’s total screen count will increase to 706 across 152 properties and 60 cities.

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Facebook aims for a bigger play in movie marketing

download.jpgSource: The Hindu Business Line, Aug 12, 2018

Mumbai: With social media becoming one of the key mediums for viewers to discover content and the film industry increasingly leveraging it to engage their audience through original content, Facebook is looking to sink its teeth further into movie marketing.

Over the years, movie marketing itself has undergone a massive shift with the advent of the internet and digital media. Given the changing consumption patterns of film goers and rapid internet and smartphone penetration, digital media is pivoting large box- office results for Hindi movies.

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Govt extends e-visa facility for citizens of 165 nations to promote tourism

Source: Business Standard, Aug 06, 2018

New Delhi: Seeking to promote tourism, the government has extended e-visa facility for citizens of 165 countries at 25 airports and five seaports, the Lok Sabha was informed on Monday.Tourism Minister K J Alphons also said the government has launched the ‘Incredible India 2.0’ campaign, marking a shift from generic promotions to market-specific promotional plans.

A 24X7 toll free multi-lingual tourist helpline has also been put in place as part of the efforts.

To promote tourism in India, events such as ‘paryatan parv’ (tourism festival), International Buddhist Conclave and International Tourism Mart too have been organised.

He said while development and promotion of tourism is primarily the responsibility of state government, the Union Tourism Ministry provides central financial assistance to states and UTs to organise fairs, festivals and tourism- related events for the promotion of tourism.

SmartE plans to set up EV charging infrastructure around metro stations

Source: Business Standard, Aug 06, 2018

New Delhi: SmartE, a Gurugram-based e-rickshaw start-up offering last-mile connectivity from Delhi Metro, is planning to set up charging infrastructure around metro stations with state-owned Power Grid Corporation of India (PGCIL).

Goldie Srivastava, chief executive officer of SmartE, told Business Standard that his company had signed a memorandum of understanding (MoU) with Delhi Metro and PGCIL to set up a huge charging infrastructure model and replicate it around metro stations.

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Tata Trusts plans to support 1,000 innovations in tech sector

Source: IBEF.org, Aug 03, 2018

New Delhi: Tata Trusts, through its Foundation for Innovation and Social Entrepreneurship (FISE), plans to support around 1,000 innovations in the tech sector which can solve social problems, a company official said.

Tata Trusts is working with some leading organisations to find and build a pipeline of such projects which need incubation support.

“Our plan is to support 1,000 innovations. Currently, we already have 30-odd innovations incubated and our plan is to increase the number 8 to 10 fold by 2020,” Ganesh Neelam, Associate Director, Tata Trusts, told PTI.

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One-time settlement of VAT, excise disputes in the works

Source: The Economic Times, Aug 02, 2018

NEW DELHI: India could consider offering a one-time settlement to clear legacy central excise duty and value added tax (VAT) issues to ensure they do not linger and act as a drag in the goods and services tax regime. The GST Council, the apex decision-making body for the tax, will take up the proposal at a meeting on August 4.

The scheme, if approved, would allow officials to focus on GST compliance instead of dealing with legacy issues and could also generate instant one-time revenue for the government. “It would clean the slate,” said an official privy to the proposal. Read the rest of this entry »

Factory output PMI drops to 52.3 in July

Source: The Hindu Business Line, Aug 01, 2018

New Delhi: Factory production slowed down a bit in July as the Nikkei India Manufacturing Purchasing Managers’ Index (PMI) posted 52.3 in July, down from 53.1 in June. Still, it is the 12th consecutive month of expansion.

This index is based on the survey conducted among purchasing executives in over 400 companies. These companies are divided into eight broad categories: Basic Metals, Chemicals & Plastics, Electrical & Optical, Food & Drink, Mechanical Engineering, Textiles & Clothing, Timber & Paper and Transport. An index over 50 shows expansion, while one below 50 stands for a contraction. The index is prepared by IHS Markit and released along with a detailed report.

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