Biz Journal | Business perfection

Centre okays Rs 107 cr for firefighting facilities at Haldia Dock Complex

The Ministry of Shipping on Tuesday approved Rs 107 crore for augmentation of firefighting facilities on five jetties of Haldia Dock Complex, Kolkata Port.

The allocation was announced by Union Minister of State for Shipping Mansukh Mandaviya.

In a release, the Shipping Ministry said the modern firefighting facility will enable the Haldia Dock Complex in the safe handling of the movement of petrochemical products. The ministry has prioritised safety and security of cargo operations on all major ports.

It is a move towards compliance of global standards for fire safety, the release said.

The existing firefighting facility does not support handling the Liquefied Petroleum Gas (LPG) and other petroleum products as per the guideline of Oil Industry Safety Directorate (OISD) of the Ministry of Petroleum and Natural Gas.

LPG and Liquefied Natural Gas (LNG) cargo

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Biz News

IT stocks surge; Wipro jumps 10%, Infosys gains 3% ahead of Q1FY21 results

July 15, 2020July 15, 2020 by Martha

Shares of information technology (IT) companies rallied up to 10 per cent on the NSE on Wednesday, a day after Wipro posted better-than-expected numbers for the first quarter (April-June) of the financial year 2020-21 (Q1FY21).

At 09:29 am, the Nifty IT index was ruling nearly 3 per cent higher at 16,069.05 points with 9 out of 10 constituents trading in the green. Wipro was the top gainer on the index – hitting an upper circuit limit of 10 per cent at Rs 247.50. Other constituents of the index such as NIIT Tech, Tech Mahindra, Infosys, and HCL Tech gained up to 4 per cent. In comparison, the benchmark Nifty was trading over 1 per cent higher at 10,727.50 levels.

In its result announcement on Tuesday, Wipro said some of its verticals have started witnessing green shoots though the Bengaluru-headquartered company refrained

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Invesment

Paychex Flex Features Can Help Small Business %%sep%% %%sitename%%

July 15, 2020July 15, 2020 by Martha

Workplace dynamics have evolved significantly in recent months following the COVID-19 outbreak. To help businesses evolve with changing times, Paychex Inc. recently released enhanced Paychex Flex features.

Paychex Inc. is a leading provider of HR, payroll, benefits, and insurance solutions. The new Paychex Flex features include comprehensive functions, which have been rolled out over the last quarter.

New Paychex Flex Features for Small Business

The coronavirus pandemic and subsequent lockdown forced unprecedented numbers of businesses to work remotely. A poll by Paychex shows that nearly a third of businesses plan to allow remote working post-pandemic. With remote working becoming the ‘new norm’, technology will continue to play a vital role in business operations and productivity.

Noting the importance of technology in today’s climate, Tom Hammond, Paychex vice president of corporate strategy and product management, commented:

“While HR technology has been enabling productivity and driving better business outcomes in

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Biz News

Trump versus Fauci reaches fever pitch as White House smear campaign rages

July 14, 2020July 14, 2020 by Martha

It’s official. The White House is headlining a vicious smear campaign against America’s top infectious diseases expert Dr. Anthony Fauci, spraying into public view a longlist of “mistakes” Fauci has made since the pandemic began and seeking to undercut the doctor’s reputation as the last word on public health during a pandemic that has killed more than 135,000 Americans.

The White House denied that it is slinging “opposition research” on Anthony Fauci’s handling of the coronavirus, hours after multiple media outlets received a White House statement detailing a laundry list of Fauci errors.

On Monday, the White House went on the back foot saying it merely “responded” to questions it received from the Washington Post.

IANS reported last week about the Trump White House efforts to sideline Fauci even as it refuses to take a stand on universal masking

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Economic

CPI-based inflation rose to 6.1% in June; food inflation eased to 7.9%

July 14, 2020July 14, 2020 by Martha

Consumer Price Index (CPI)-based inflation for June stood at 6.09 per cent, slightly above the Reserve Bank of India’s target band of 4 per cent (with a margin of +/- 2 per cent), showed the official data released on Monday. This has raised expectations of another rate cut.

The National Statistical Office (NSO) released the headline CPI numbers after a gap of two months. It had cited difficulty in data collection (due to the lockdown) for the absence of data for April and May. However, it had released the Consumer Food Price Index-based inflation data for all months.

CFPI for June came in at 7.87 per cent, compared to 9.20 per cent in May, after the food and agriculture supply chain opened up following Unlock 1.0. In June 2019, the CPI stood at 3.18 per cent while food inflation came in

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Invesment

American Express and SAP Concur Release Invoice and Expenses Tools

July 14, 2020July 14, 2020 by Martha

American Express and SAP Concur recently announced two digital integrations to help businesses streamline and automate invoicing and expenses.

The first offering is an integration that allows American Express Business and Corporate Card customers to integrate with Concur Invoice. This tool uses machine learning to capture both digital and paper invoices. And then it integrates them into a single system.

American Express Partners with SAP Concur

The idea is that users enjoy more visibility into their invoices. And they save time by automatically having access to everything in one place.

The second solution provides digital expense reporting for small businesses. Basically, transactions from an American Express Business Card seamlessly flow into Concur Expense. This helps employees manage expenses more efficiently. And it gives businesses more access and control over card purchases.

Essentially, these two business tools are now connected. So American Express Business and Corporate Card users can

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