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Saturday, August 18, 2018

Jet Airways board to meet on Aug 27 to consider Q1 results
Jet Airways yesterday said a meeting of the board of directors will be held on August 27 to consider and approve the unaudited financial results for the first quarter ended June 30. The board of directors of Jet Airways at its meeting held on August 9 had deferred the matter of consideration of the unaudited financial results for the June quarter. "The meeting of the board of directors of the company shall be held on 27 August 2018, inter a/ia, to approve the unaudited financial results for the first quarter ended 30 June 2018," Jet Airways said in a regulatory filing yesterday.

Apollo ties up with Microsoft for AI-powered CDV Risk Score
Microsoft India and Apollo Hospitals yesterday announced the launch of the first AI-powered Cardiovascular Disease Risk Score API (Application Program Interface), designed specifically to predict the risk of Cardiovascular Disease (CVD) in the Indian population. A joint press release said the tie up is part of Microsoft's AI Network for Health care initiative and that doctors across the Apollo network of hospitals can now leverage this AI-powered API to predict risk of CVD and drive preventive cardiac care across the country.

ICAI introduces Integrated Reporting category in ICAI Awards
The Institute of Chartered Accountants of India (ICAI) will be introducing India’s first award to celebrate the new business practice of integrated reporting, internationally acknowledged as the emerging best practice in corporate reporting and encouraged by the Securities and Exchange Board of India (SEBI). This new category, endorsed by ICAI’s Council, is part of the ICAI Awards for Excellence in Financial Reporting and is intended to boost awareness of integrated reporting as well as incentivize companies to adopt it. “The introduction of Integrated Reporting Category in ICAI Awards will create awareness and encourage Corporate in India to adopt Integrated thinking and Integrated Reporting” said CA. Naveen N D Gupta, President ICAI and first member on IIRC Council from ICAI.

Federal Bank’s lady employees national expedition arrives in Mumbai
Federal Bank has been showing keen interest in the social issues and has been making meaningful interventions since the inception of the Bank. Gender equality is a social value that the Bank has been practicing and propagating. The ride which was flagged off on 1st August 2018 by R Sreelekha IPS (DGP of Kerala) reached Mumbai recently. The riders were received with excitement by the directors, staff members and customers of Federal Bank and public in Mumbai. In a meeting organized in Mumbai, Rupinder Brar (Commissioner of Income Tax, Mumbai) was the Chief Guest. Manasi Joshi (World Para-badminton Champion) delivered key note address. Nilesh Shivji Vikamsey, Chairman of the Bank offered felicitations at the meeting.

DestaGlobal's app to revolutionis agriculture
Leading agritech and agri e-commerce startup, DestaGlobal yesterday announced that their farmer app, aimed at improving the lives of farmers across the nation, had touched 40,000+ downloads within a month of its launch. Speaking of the download numbers, Siddhartha Choudhary, CEO, DestaGlobal opined, “With the best discounts on offer for the farmers and the dealers, there is scope to save Rs. 137 crore for the Indian farmer community, in the next few years. In fact, we have an Independence Week Shopping Festival, going live from the 16th August, in which we are celebrating 72 years of Independence by giving upto 72% discounts for the dealers and farmers across Maharashtra.”

India PC market grows 28% in Apr-Jun: IDC
India's PC shipments notched a healthy 28.1% growth in April-June 2018 with 2.25 mn units, buoyed by strong notebook demand, research firm IDC India said yesterday. On the pecking order of vendors, IDC said, HP Inc maintained its leadership with a market share of 31.6% during the quarter followed by Dell at the second slot (23.7%) and Lenovo at the third position (18%). The market's "high growth can be partially attributed to the fact that June quarter of 2017 was heavily impacted by the then-upcoming GST implementation", it said.

Lanxess Q2 Net income rises to EUR 126 mn
Following a good performance in the second quarter, specialty chemicals company Lanxess has specified its earnings forecast for 2018. The Group now expects an increase of the operating result at the upper end of the guidance of five to ten percent that was presented in May. In the previous year, comparable EBITDA pre exceptionals was around EUR 925 mn. The contribution from ARLANXEO is not taken into account in the full-year forecast for 2018 and, with immediate effect, will no longer be reported in the Group’s sales and operating result. “Lanxess is doing well in operational terms and our strategic decisions in recent years are visibly paying off. For instance, the acquired Chemtura businesses, which have now been included in our figures for a year, made a decisive contribution to the record result achieved by our Additives segment in the second quarter,” said Matthias Zachert, Chairman of the Lanxess Board of Management.

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