bizline

Dec 16, 2015-

Heal-Nepal helps livestock farmers

KATHMANDU: Helping Earthquake Affected Livestock in Nepal (Heal-Nepal), a USAID-funded project, said it had helped reinstate livestock farming of 15,145 farm households affected by the April 25 earthquake. The project was launched four months ago in 90 village development committees of earthquake-hit districts including Sindhupalchok, Gorkha, Dhading, Nuwakot and Kavrepalanchok. Shubh Mahato, country director of Heifer Project International Nepal, the project implementing organisation, said they had mainly focused on livestock services like animal health, treatment of injured animals, grass production and developing improved breed. According to him, they reconstructed 1,350 animal shelters damaged by the earthquake. The project estimates that 38 percent of the farmers’ income in the sample villages is generated by their livestock business. Due to the earthquake, 90 percent of the animal shelters in the region were destroyed. The $8,885-project is estimated to have reinstated 144,000 head of livestock in the five districts. (PR)

Toshiba mulls cutting 7,000 jobs

TOKYO: Japanese tech giant Toshiba is considering cutting down around 7,000 jobs, especially in its consumer electronics division, and also unload stakes in two of its subsidiaries to sort out its accounts. The most affected division will be the lifestyle segment, with more than 24,000 workers in Japan and other countries and which currently accounts for most of the company’s losses, officials said on Tuesday. Sales in this segment fell 10 percent during the last financial year and its operational losses amounted to around $905 million, EFE news reported. Toshiba might also sell off its holdings in Toshiba Tec, dedicated to retail business solutions, and Toshiba Medical Systems, a wholly owned provider of diagnostic imaging systems. Through these sales, the Tokyo-based company seeks to obtain more liquidity to carry out its restructuring plans for its appliance and television businesses following an accounting scandal. After the scandal broke out earlier this year, Toshiba admitted that between 2007 and 2014 it overstated its sales profits by around $1.86 billion and its operating profits by $1.28 billion. The Toshiba accounting scandal has been described as the biggest financial fraud in Japan in recent years. (IANS)

GM India recalls 101,597 units of Chevrolet Beat Diesel

New Delhi: General Motors India on Tuesday recalled 101,597 units of Chevrolet Beat Diesel which were manufactured between December 2010 and July 2014. According to the company, it will inspect and, if necessary, replace the clutch pedal lever in the vehicles. “The clutch pedal lever in these units is susceptible to cracking on continued usage,” the company was quoted in a statement as saying. The company informed that it has started voluntarily notifying owners of the Beat Diesel to take their cars to any of Chevrolet’s 248 authorised service centres across India. “Quality and care are our highest priorities and we are committed to putting customers at the centre of everything we do,” the statement said. “Alternatively, customers can also contact their nearest Chevrolet dealership and schedule an appointment for vehicle inspection and correction.” The company added that it is working closely with its service network to make the entire inspection and correction exercise as smooth as possible. (IANS)

Snapdeal launches multi-lingual platform

NEW DELHI: To enable its customers overcome language barriers and shop online in their preferred regional language, online market place Snapdeal on Tuesday launched its multilingual interface, a company statement said here. From Tuesday, Snapdeal’s user interface on the mobile will be available in Hindi and Telugu. From January 26 Snapdeal will be available in English and 11 regional languages—Hindi, Telugu, Gujarati, Tamil, Marathi, Bengali, Kannada, Malayalam, Oriya, Assamese and Punjabi, the statement said. “With this, Snapdeal has expanded its reach to an additional 130 million smart phone users in India, who use internet in regional languages, thus making digital commerce now accessible to all,” it added. India’s linguistic diversity is a huge

opportunity to expand the market to include those users who would prefer to engage online in their native languages, said Rohit Bansal, co-founder of Snapdeal. (IANS)

Boeing increases share buyback

NEW YORK: Boeing unveiled Monday a $14 billion share buyback program and boosted its quarterly dividend as the US aerospace giant shared its bounty with investors from strong demand for its jetliners. The Chicago-based company said it would pay investors a $1.09 dividend for the quarter under way, a 20 percent increase from a year ago. It noted that it had raised the dividend for five straight years. In addition, Boeing will embark on a new $14 billion share repurchase program that replaces the $12 billion buyback approved last December, of

which $5.25 billion remained. The company said repurchasing was expected to resume in January and likely would be made over the next two to three years.

“Once again, we are demonstrating our commitment to a balanced cash deployment strategy that fuels investments in our people, innovation and growth, and returns significant value to our shareholders,” said Dennis Muilenburg, Boeing president and chief executive,in a statement. Investors welcomed the bonanza,pushing shares in the Dow member up 1.2 percent to $144.75 in after-hours trade. Boeing has benefited from a strong civil aviation market as airlines, reaping cost savings from lower fuel prices, update and expand

their fleets. (AFP)

Published: 16-12-2015 09:25

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