 "HCLTech, HCL")
30 years on, Disney continues to struggle in India despite scale, footprint
For the first time since it entered India in 1993, Disney today has scale and a national footprint in the country, thanks to its 2018 acquisition of Twenty First Century Fox’s entertainment assets. Star India, which came with this acquisition, has more than 60 channels in eight languages. It has led the growth of broadcasting in India since the mid-1990s with Kaun Banega Crorepati, several popular daily soaps, Kabaddi, cricket, and other Indian sports. An important part of the $71 billion that Disney paid for Twenty First Century Fox, it gave Disney a seat at the table with other American media giants doing well in India: Warner, Sony, and Paramount. Read more
India's outward FDI shrinks by half YoY in June 2023, shows RBI data
India’s outward foreign direct investment (FDI) halved to just below the $ one billion mark in June 2023 from $ 1.93 billion in June 2022. Sequentially also FDI declined from $ 1.29 billion in May 2023. The outward FDI expressed as total financial commitment has three components – equity, loan and guarantees issued. The commitments (outward FDI) stood at $ 2.44 billion in April 2023, according to Reserve Bank of India data. Read more
Remote work to wipe out $800 billion from office values, says McKinsey
Remote work risks wiping $800 billion from the value of office buildings in major cities, highlighting the potential losses that landlords are facing from post-pandemic changes in employment trends. Covid-19’s push toward hybrid work has driven the need for office space down with vacancy rates rising, McKinsey Global Institute said Thursday in a report that modeled the impact on valuations by 2030 in nine cities globally. Read more
HCLTech to acquire German engineering firm ASAP Group for $279 million
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HCLTech has signed a definitive agreement to acquire a 100 per cent equity stake in ASAP Group, a German automotive engineering services provider, for Euro 251.1 million (about $279 million). The acquisition is expected to close in September 2023. The acquisition is expected to help HCLTech's engineering services by strengthening its advanced technology capabilities in the fast-growing automotive engineering services segment in Europe and other key global markets. Read more
Delhi L-G Saxena calls DDMA meeting today over rising water level of Yamuna
Delhi Lt Governor, VK Saxena has called for a meeting of the Delhi Disaster Management Authority (DDMA) to discuss the flood situation in the National Capital on Thursday over rising water level of Yamuna river. "The meeting will be held at the LG Secretariat at 12 noon, CM Arvind Kejriwal will also be present at the meeting," DDMA officials said. Read more
