BEIJING: Huizhou city on the north of China's flourishing Pearl River Delta has turned into a ghost town after Samsung closed its three-decade old factory and shifted operations to India and Vietnam in October, in the first visible fallout of the ongoing trade war between China and the US. The bustling city turned a "ghost town" after Samsung closed its last smartphone factory in China, the Hong Kong-based South China Morning Post reported on Wednesday. Samsung relocated production to Vietnam and India in large part as a response to the trade war between the world's two largest economies, it said, adding that the industry insiders consider that it reflected China's changing position in the global supply chain. Last year Samsung inaugurated its world's largest mobile factory in Noida, near the Indian capital. The new facility will enable Samsung to double its capacity for mobile phones in Noida from 68 million units a year to 120 million units a year, in a phase-wise expansion to be … [Read more...] about Chinese city turns into ghost town after Samsung shifts operation to India, Vietnam
Gs25 convenience store
Noida: Amrapali buyers object to sale of commercial space in housing projects
NOIDA: Even as the Supreme Court-appointed receiver has started the process for tripartite agreements for Amrapali buyers, a section of them has objected to the sale of commercial space violating building laws in almost all housing projects of the embattled developer. Though the court is yet to give a final order on the issue, receiver R Venkatramani has asked the Noida and Greater Noida authorities to maintain status quo on all such commercial properties till the judges take a call. The Amrapali buyers have claimed that the permission to host commercial shops flouts the basic rule that only 1% of the floor area ratio (FAR) will be allowed for a convenience store in a housing society for residents only. “But in all Amrapali projects, a large number of commercial areas have been sold, which would affect the safety and sanctity of the residential complexes. So, we have requested the court to check the FAR allocation for these commercial activities and then grant registration to … [Read more...] about Noida: Amrapali buyers object to sale of commercial space in housing projects
GOLDEN RULES to invest in gold and silver
Next How should investors go about investing in gold and silver? Ankit Gala and Jitendra Gala, who have authored a wide range of books on trading and investing in the stock markets, mutual funds, commodities, IPOs, options and futures and precious metals, offer some valuable insights to help investors while investing in gold and silver. Precious metals are stable in times of worldwide uncertainty, or when a country's economy goes through a bad phase. When confidence in other assets causes their values to plummet, precious metals often do well. In last few months due to global uncertainties like Euro zone debt crisis and US debt crisis, gold and silver prices have sky rocketed. Sometime back, gold was trading at all-time highs around $1,880 per Oz and silver was trading around $45 per Oz. This has caused a mad investor rush for these precious metals. Hence we felt the need to educate the laypersons and investors about how to invest in these precious metals so … [Read more...] about GOLDEN RULES to invest in gold and silver
ITC to step up focus on frozen food to drive non-cigarette sales
NEW DELHI: ITC is extending its nascent frozen foods business to a range of new products and smaller towns and cities to compete with more established rivals such as McCain Foods and Godrej Yummiez, even as it chases an ambitious target of Rs 1 lakh crore non-tobacco FMCG sales by 2030. “Our focus is on expanding category penetration to retail and food services, including in tier II and III markets, through products and competitive pricing,” said Sachid Madan, chief executive (frozen snacks) at the Kolkata-based conglomerate. The company has rolled out a range of vegetarian and non-veg frozen snacks under its ITC Master Chef franchise to add to its frozen prawns. The products are targeted at both retail consumers and to supply to restaurants and hotels. “We are leveraging the backend, and the category ecosystem will also benefit farmers through better prices and lower wastage,” Madan said. The frozen food category, estimated at Rs 7,400 crore, is growing … [Read more...] about ITC to step up focus on frozen food to drive non-cigarette sales