The News Scroll 30 January 2018  Last Updated at 9:23 pm | Source: PTI

Exim Bank extends $36.92 m credit to Cambodia

Exim Bank extends $36.92 m credit to Cambodia

Mumbai, Jan 30 (PTI): The Exim Bank has extended a line of credit worth USD 36.92 million to Cambodia for financing the Stung Sva Hab/Slab water resources development project.

So far, the bank has extended four lines of credit worth USD 102.12 million to Cambodia, the company said in a statement.

With this, the bank has now in place 224 lines of credit, covering 62 countries in Africa, Asia, Latin America and the CIS, with credit commitments of around USD 21.04 billion, available for financing exports from the country.


Four Seasons to launch luxe hotel, pvt houses in B'luru

Luxury hospitality major Four Seasons Hotels & Resorts will open a new hotel and private residences later this year in Bengaluru in association with property developer Embassy Group.

Located within Embassy One, a new mixed-use development featuring commercial office space and premium retail outlets, they will debut as Four Seasons Hotel Bengaluru at Embassy One and Four Seasons Private Residences Bengaluru at Embassy One in the summer of 2018, Four Seasons Hotels president J Allen Smith said.


SBI signs information utility agreement with NeSL

The State Bank has signed an information utility agreement with the National E-Governance Services (NeSL) to share financial and security information under Insolvency and Bankruptcy Board regulations 2017.

NeSl is the first information utility registered with the IBBI.

The Reserve Bank has also advised to all financial creditors regulated by it to submit financial and security information to agreement.

Under IBC, the information utility agreement is proposed to offer services for accepting electronic submission of financial information, recording the same safely and accurately, verifying and authenticating the financial information submitted by a person and providing access to information stored to persons specified by the regulations.


Sony, UN Foundation launch short-film competition

Sony Pictures Television Networks in partnership with the United Nations Foundation today launched a short-film competition 'Picture This Festival for the Planet'.

The competition is for emerging filmmakers, everyday storytellers and changemakers from over 70 countries, who can submit videos between one and eight minutes from today till April 30, inspired by the sustainable development goals, a set of global goals agreed upon by all 193-member states of the United Nations to end poverty, protect the planet and promote prosperity for all, it said in a statement.

"With the support of the United Nations Foundation and our other partners, we look forward to elevating and amplifying these important development goals through the voices of emerging creatives and acknowledge their good work in a meaningful way," the channel said.

Eight regional winners would attend the Picture This Festival for the Planet in Los Angeles, including one from the country.


DSport partners Viacom18 for live telecast of Nidahas trophy

In an industry first, Discovery Communications India's sports channel DSport, which had recently acquired the domestic broadcasting rights for the tri-nation Nidahas Trophy, to be held in Sri Lanka in March, has partnered Viacom18 for the live telecast the tournament.

While DSport will telecast English commentary, Viacom18-owned mass entertainment channels Rishtey Cineplex and Cineplex HD will feature Hindi commentary for the tournament featuring India, Sri Lanka and Bangladesh, it said in a statement.

"In a first of its kind arrangement we are delighted to partner with Viacom18's Rishtey Cineplex and Cineplex HD to bring Hindi telecast of the Nidahas trophy to millions Indians," DSport Business said.

New Delhi, Jan 30 (PTI) IT firm Intellect Design Arena today said it has posted a consolidated net profit of Rs 12.16 crore for the December quarter this fiscal.

The Chennai-based company had reported a net loss of Rs 16 crore during the same period of the previous year, Intellect Design Arena said in a statement.

Its revenue from operations increased to Rs 270.67 crore in the said quarter as against Rs 226.45 crore in the year-ago period, it added.

The company's revenues for January-December 2017 crossed the Rs 1,000 crore-milestone and stood at Rs 1,031 crore.

"The achievement of Rs 1,000 crore mark in CY2017 establishes our business stability and is a palpable evidence of sustainable growth," Intellect Design Arena Chairman and MD Arun Jain said.


'6Degree' raises $400,000 from IAN and TAN Advisors

6Degree, a fashion talent and tech startup, today said it has raised USD 400,000 from IAN (Indian Angel Network) and TAN Advisors– The Angel Network in a pre-series A round funding.

"The amount will be utilised in expanding the team, upgradation of the technology and in expanding the reach of the company," a statement said.

In 2016, 6Degree had raised about USD 200,000 from IAN.

"In the last financial year, we had clocked the revenue of Rs 3.1 crore and before the close of the current financial year, we aim to reach about Rs 5 crore and achieving an EBITA positive figure," 6Degree co-founder and CEO Nikhil Hegde said.


* Chrysalis raises funding from Gray Matters Capital

Chrysalis, a Chennai-based educational reform organisation, today said it has raised pre-series A funding from Gray Matters Capital.

The amount raised will be used to build on research and development, and to strengthen multichannel approach, Chrysalis (incorporated as EZ Vidya) said in a statement.

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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