Thursday, May 28 2020 | Time 21:10 Hrs(IST)
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Business Economy


Smartworks opens its first center in Chennai

Chennai, Feb 9 (UNI) Smartworks, India’s largest provider of shared workspaces, on Friday launched its first bespoke shared workspace centre in Chennai city.
The 45,000 sqf state-of-the-art centre with 900-plus seats, offers world class workspace design and amenities such as cafeteria-cum-lounge serving healthy food options, gaming room, gym, medical room, meeting rooms, conference rooms, AV lounge, concierge services, fortnightly community events and many other facilities to make workspaces hassle free and aid in improving the productivity of its members.
Smartworks made its pan India foray in April 2016 and in a short span of 16 months has emerged as India’s largest and fastest growing player in the shared office space and co-working segment.
Smartworks presently has 16 centres across nine cities covering over 900,000 sqft space and plans to expand it to three million sqft in over 20 Tier-1 and 2 cities, pan-India by 2020.
''Our first centre in Chennai is strategically located in Guindy, Hub for enterprises as well as small and medium enterprises with potential demand owing to its proximity to the airport and excellent connectivity through all modes of transport, it is one of the most desired locations'', Smartoworks Founder Neetish Sarda told reporters.
''Our next centre will be another state-of-the-art workspace in the commercial hub of OMR'', he added.
He said “Chennai has witnessed a rapid growth in the past from IT, ITES, BFSI, Auto Ancillary sectors and the overall market sentiment is becoming more receptive and matured towards shared workspaces'', he said.
Apart from Chennai, Smartworks also plans to expand to other parts of Tamil Nadu in the near future, particularly in cities like Madurai and Coimbatore.
UNI GV CS 1640
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Court Order Against Senior Preventing Importation of Battery Separators Into the United Kingdom is Extended

28 May 2020 | 8:38 PM

CHARLOTTE, North Carolina, May 28, 2020 /PRNewswire/ - Following the United Kingdom (UK) court's grant on May 7, 2020 of an interim injunction against Shenzhen Senior Technology Material Co., Ltd. (Senior) as requested by Celgard, LLC (Celgard), a subsidiary of Polypore International, LP (Polypore), the matter returned before the UK court on May 21, 2020. The court's new order continued the effect of the interim injunction pending a further substantive hearing that will take place on an agreed date between June 29 and July 10, 2020. Senior provided an official letter to the Judge acknowledging its formal undertakings to the UK court. Celgard intends to pursue an injunction through trial of its trade secret case against Senior at the next hearing.

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Wipro positioned as teknowlogy leader: PAC Group’s IoT C&SI survey

28 May 2020 | 8:31 PM

Bengaluru, May 28 (UNI) Wipro Limited a leading global information technology, consulting and business process services company, today announced that it has been positioned as a leader across several categories in teknowlogy | PAC Group’s Internet of Things Consulting and System Integration (IoT C&SI) survey.

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FM launches facility of Instant PAN through Aadhaar based e-KYC

FM launches facility of Instant PAN through Aadhaar based e-KYC

28 May 2020 | 7:53 PM

New Delhi, May 28 (UNI) In line with the announcement made in the Union Budget, Finance Minister Nirmala Sitharaman formally launched the facility for instant allotment of PAN - on near to real time basis - here on Thursday.

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KIA Motors to invest 54 million US dollars in AP

28 May 2020 | 7:47 PM

Vijayawada, May 28 (UNI) The Brainstorming (Our Governance-Your Suggestion) on Industries here has turned out to be a great success with the KIA Motors announcing a further investment of 54 million US dollars in Andhra Pradesh.
This was announced during the interactive session by KIA (IN) CEO and MD, Kookhyun Shim, who stated that they would further invest an amount of 54 million dollars (Rs 409 crores) in the SUV manufacture unit.

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LANXESS Robust in First Quarter of 2020 Despite Coronavirus Crisis

28 May 2020 | 7:32 PM

MUMBAI, May 28, 2020 /PRNewswire/ - Specialty chemicals company LANXESS proved robust in the first quarter of the year - despite the weak economic environment due to the coronavirus pandemic. Earnings in the new Consumer Protection segment and in the Specialty Additives segment developed positively, significantly mitigating the impact of the coronavirus crisis. Exchange rate effects, particularly from the U.S. dollar, also had a positive impact. By contrast, a further decline in demand from the automotive industry as a result of the coronavirus crisis had a negative effect on earnings, particularly in the Engineering Materials segment. EBITDA pre exceptionals declined by 9.9 percent from EUR 272 million to EUR 245 million in the first quarter of 2020. The EBITDA margin pre exceptionals amounted to 14.4 percent after 15.7 percent in the prior-year quarter.

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