Acclaimed designer Tony Chi is a study in contrasts. Humble, quiet, thoughtful, contemplative and yet, at once, bold, vibrant, loud, combative, unrelenting passionately visionary, and animated with a limitless energy. He is the kind of man who upon arrival, instantly fills up a room with his exuberant and infectious grasp of all of life’s possibilities. He is indefinable and his talents defy convention. In his career spanning nearly three decades, he has been a creator, a developer, an operator, amongst a myriad of countless endeavours all of which define the very finest things of life. He is a consummate creator and curator of life’s most exceptional experiences. A life in the making.
His arrival in Gurgaon launches his luxurious expression of elegant 21st century living with the Grand Hyatt Residences at the Ireo City complex in Gurgaon. The Grand Hyatt Residences in Gurgaon’s Golf Course Extension Road area, are a first of their kind branded residential project that brings together the vision and expertise of world-leading names in architecture, design and hospitality. While TonyChi & Associates are envisioning the interior design, Ireo has teamed up with Foster + Partners for the architecture and Hyatt Hotels Corporation to provide facilities, services and amenities for Grand Hyatt Residence owners. Tony Chi’s much admired designs will grace the interiors of residences, apartments and Grand Hyatt hotel at this 29-acre mixed use project.
Read more: DNA India
India’s economic growth expected at 5.5-6.5% in 2013: Moody’s
Indian economy is expected to pick up and grow in the range of 5.5-6.5 per cent in 2013 even though government steps for new investments have been “relatively small in scope”, Moody’s said today.
Citing cautious private sector and relatively high inflation, the global rating agency also said that the country is struggling to boost investment and economic growth.
Based on its central forecast scenarios, Moody’s Investors Service has estimated that Indian economy would see 5.5-6.5 per cent growth in 2013, as against 3.9 per cent last year. The growth is projected to improve further to 6-7 per cent in 2014, it noted.
According to Moody’s, one percentage point range in the forecast is to “avoid spurious precision” and to focus on significant changes that could potentially influence rating decisions.
“Despite the recent decline in wholesale price inflation, CPI inflation remains in double digits, which points to pricing pressures elsewhere in the economy.
“As such, while GDP growth is likely to pick up during 2013, it will probably take at least another year or two before the economy matches the pace of expansion seen during 2010 and 2011,” Moody’s said in a report.
Read more: Financial Express
Global firms bet on India’s spending power
In the biggest recent deal, Unilever (ULVR.L) (UNc.AS) is spending up to $5.4 billion to lift its stake in its Indian subsidiary, Hindustan Unilever (HLL.NS), the country’s largest consumer goods maker.
Inbound M&A into India totals $9.86 billion this year, the highest in Asia, Thomson Reuters data shows, pointing to growing confidence among overseas firms in the potential of a 1.2 billion-strong consumer market.
“India as a country is under-consumed. That is changing,” said Amitabh Mall, a partner at the Boston Consulting Group.
For now, however, an economy in the doldrums is poised for only sluggish recovery. While long-crippling inflation is finally easing, a general election due next year and fractious parliamentary politics have stalled many economic reforms.
In 2012, foreign direct investment into India dipped about 7 percent to $29.3 billion. By comparison, FDI into China saw a decline of about 10 percent, but it attracted $111.6 billion.
Read more: Reuters
Qatar Airways seeks more traffic routes from India
Qatar Airways, one of the world’s fastest growing airlines, has sought more traffic routes and seats from India to serve two-tier cities, a top airline official has said.
Akbar-Al-Baker, the Chief Executive Officer told the PTI yesterday that Qatar Airways has exhausted all the traffic routes allotted by the Government of India.
He was here on the sidelines of “Educate a child”, a global education program sponsored by the airline and Jazz@ Lincoln Center, New York.
“We hope Indian Civil Aviation authorities will give additional access to other Gulf carriers in India and if that happens we would like to operate more flights.
We would like to operate more flights out of India to cater to the demands of global traffic,” Al-Baker said.
He said India is a country with 1.3 billion people and has the highest number of affluent and educated middle class. It has economic prosperity and large number of people travels overseas.
Read more: The Economic Times
Videocon to launch 4G services in 6 circles
Videocon Mobile Services would launch high speed data LTE(Long Term Evolution) in 6 circles namely viz, Gujarat, Haryana, Madhya Pradesh, Chattisgarh, UP (East & West ), Bihar & Jharkhand by the end of this fiscal year.
Addressing the media here in Chandigarh, Videocon Telecommunications Ltd, Director & CEO, Arvind Bali said, ” The spectrum won by us in the auction last year for 6 circles was paired and liberalized, ie, the spectrum can be used to roll out Next Generation Networks and Services by adapting a highly spectrally efficient 4G technology FDD LTE. This enables operators to gain more efficiency using the same spectrum resources. Next-generation network technologies enable about 30 times more data capacity than a traditional 2G network, allowing telcos to extend the lifespan of existing spectrum assets and reduce the amount of additional spectrum required. We are planning to roll out complete 4G products & services across the newly won circles by the end of this fiscal year.”On being about the finances, he mentioned that it is being currently worked out.
Read more: Business Standard
India-U.S. Clean Energy Partnership Mobilises $1.7 Billion
Reflective of the expanding Indo-U.S. partnership in clean energy sector, India and America have managed to garner $1.7 billion from the private sector to finance clean energy initiatives, a top Obama Administration official has said.
“We are also expanding our bilateral cooperation on clean energy through the U.S.-India Partnership to Advance Clean Energy, or PACE, which has mobilised over $1.7 billion to finance clean energy initiatives,” Assistant Secretary of State for South and Central Asia Robert Blake said in his address to the CEOs attending the 4th U.S.-India Energy Partnership Summit.
“In addition, a $125 million public-private joint research center is being created that will be led by 95 government, research, and private organisations. President (Barack) Obama is taking a leadership role in these efforts,” Blake said.
Read more: Silicon India
Gurgaon Inc Luminous Water Technologies invests in water technology
Known for Luminous Power Technologies, Gurgaon-based business conglomerate, SAR Group has now forayed into the water purification industry. The company will now be also manufacturing Reverse Osmosis (RO) water purifiers and has planned an investment of Rs 500 crore over a period of four years in this vertical.
Founder and chairman – Luminous Water Technologies and chairman, SAR Group, Rakesh Malhotra informed, “Half the investment will be sourced from internal accruals and the other half will come from equity or debt. Out of the total corpus, Rs 200 crore would be dedicated to developing manufacturing facilities and research and development processes. The remaining Rs 300 crore would be invested in engaging the consumers with the brand.”
Read more: The Economic Times