Aidem Ventures appoints M Suku as executive vice-president

Aidem Ventures has appointed M Suku as the executive vice president, reflecting the company’s expansion into new emerging media, markets and verticals.

M Suku is an industry veteran with over 25 years of experience in business development, contract negotiation and strategic planning, buying and media assessment. He has worked with companies like Lintas, Colgate, JWT, Ogilvy, Unilever (Secondment) ABCL, Eenadu & Group M. 

At Group M, as national director, he set up Broadmind (Now GroupM ESP) from scratch into a significant contribution of entrepreneurs, revenues, profits and awards. The Broadmind Indian business model was regionally and globally recognised and adopted.  He moved to GroupM Singapore, overseeing the ESP division in a regional role covering 12 Asia Pac countries.

 “We are extremely excited about Suku’s appointment. At Aidem he will be a part of the core management team. His extensive knowledge and experience in the industry will strengthen Aidem’s business expansion strategy,” said Raj Nayak, managing director.  This appointment continues Aidem’s drive to provide its clients with experienced industry personal to support their projects.

Prior to this appointment M Suku  was with The Reliance ADA Group, one of India’s largest advertisers where he was the head of media and alliances.

 

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Tuesday’s Market Preview: Positive opening likely

The local market is expected to have a positive opening today on the back of supportive global cues. Wall Street closed with modest gains on Monday on strong economic data. Markets in Asia were mostly higher in early trade on Tuesday on improved outlook of the world economy. The SGX Nifty was up 20.50 points at 6,201.50 compared to its previous close of 6,181.

Yesterday, the market opened with smart gains on support from its Asian peers. It touched the day's high within minutes of the opening bell on institutional buying. However, the indices pared some gains on profit-taking at higher levels. The market moved further southwards in the post-noon session but stayed in the green and closed off the day's lows. On the other hand, the broader indices closed with decent gains.

The Sensex closed at 20,561.05, a gain of 51.96 points (0.25%). The Nifty ended the year's first trading day 23.10 points (0.38%) higher at 6,157.60.

Markets in the US closed firm on Monday, the first trading day of 2011, on positive economic indicators, signalling that the economic recovery is on track. Manufacturing activity expanded in December at the fastest pace in seven months. The Institute for Supply Management’s index climbed to 57 last month from 56.6 in November, the Tempe, Arizona-based group said yesterday. Former Federal Reserve Governor Frederic Mishkin said that while the central bank will complete its $600 billion bond- purchase program to help fuel the economy, a third round of the so-called quantitative easing is unlikely.  Another report showed construction spending rose in November for a third month, helped in part by government projects. A 0.4% gain followed a 0.7% increase in October.

The Dow surged 93.24 points (0.81%) to 11,670.75. The S&P 500 gained 14.23 points (1.13%) to 1,271.87. The Nasdaq rose 38.65 points (1.46%) to close at 2,691.52.

Markets in Asia were mostly in the green in early trade this morning on optimism over the global recovery boosted demand for riskier assets like stocks.

The Shanghai Composite was up 0.61%, the Hang Seng added 0.02%, the Jakarta Composite was up 0.29%, the KLSE Composite climbed 0.73%, the Nikkei 225 surged 1.42%, the Straits Times gained 0.51% and the Seoul Composite was up 0.31%. On the other hand, the Taiwan Weighed lost 0.03% in early trade. The SGX Nifty was up 20.50 points at 6,201.50 compared to its previous close of 6,181.

In other news back home, the government yesterday said it will come out with two more series on monthly consumer price inflation from the next month to reflect the impact of price rise on consumption pattern of households in urban and rural areas.

“CSO will be releasing CPI—urban and rural—indices for January onwards. The first data would be released sometime in February,” chief statistician TCA Anant stated.

Currently, there are four CPI inflation series—CPI for industrial workers, CPI for agricultural labourers, CPI for rural labourers and CPI for urban non-manual employees. Besides four CPI series, wholesale prices are measured by WPI index.

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NHB enters 50 million euro deal with Germany’s KfW

New Delhi: Housing finance regulator National Housing Bank (NHB) today said it has entered into a 50 million euro (around Rs298 crore) agreement with Germany-based development bank KfW for promoting energy efficient housing in India, reports PTI.

The programme is expected to address a niche market segment for promoting energy efficiency in the Indian housing sector and is aimed at reducing energy consumption by 30 per cent in residential projects, NHB stated.

"NHB executed an agreement with KfW, Germany (the development bank of Germany) to promote energy efficient housing in India... under which NHB will borrow an amount of 50 million euro...," the housing finance regulator said.

It said that the initiative is an outcome of a dialogue process between the governments of India and Germany for promotion of a programme on 'Energy Efficient New Residential Housing in India', for which NHB will act as the implementation agency.

"As per estimates, the residential housing sector accounts for approximately 30% of the total energy consumption in the country. Promotion of energy-efficient residential housing is also an important objective laid down in the National Urban Housing and Habitat Policy, 2007, formulated by the government of India...," it said.

The programme envisages lending by NHB for individual housing loans through primary lending institutions for purchase of apartments in certified energy efficient projects.

The two partners have appointed an international consultant for the project.

The programme seeks to save energy levels in residential housing to the extent of 30% through both active and passive measures viz. adopting an efficient architectural design, using construction material of required standards, installing energy efficient electrical, electronic appliances.

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