HCC-Hyundai Development Corp JV bags Rs 21-bn Mumbai Coastal Road Project

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Infrastructure major Hindustan Construction Company Ltd (HCC) Wednesday said the company, in a joint venture with Hyundai Development Corporation (HDC), has been awarded a Rs 21.26 billion Mumbai Coastal Road Project contract by the Municipal Corporation of Greater Mumbai (MCGM).

"HCC's share in the joint venture (JV) is 55 per cent (Rs 11.69 billion) and the project is to be completed in four years (48 months)," the company said in a BSE filing.

"The scope of work includes design and construction of road, bridges, interchanges including reclamation and associated works between Baroda Palace near Haji Ali and the Worli end of Bandra Worli Sea Link," it added.

HCC said MCGM has envisaged the Mumbai Coastal Road Project (MCRP) along the western seafront of the city to decongest existing roads.

Shares of HCC were trading 2.78 per cent up at Rs 11.48 apiece on BSE.

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CFO Yoshida takes over Sony as CEO: Is the fun over at the Japanese giant?

When it comes to crunching numbers or winding down bad businesses, nobody at Sony Corp has been as sharp as Kenichiro Yoshida. Now, as chief executive officer, he faces a tougher task: rekindling some lost magic.

The driving force behind Sony’s turnaround during the last five years when he was in charge of finance, the reserved 58-year-old took the company’s top job yesterday. Investors love him, but managers who worked with him said they worry he isn’t in love with the kind of gadgets that once made Sony a household name.

Sony is making record profits again, but it’s no longer making the world’s coolest stuff. The company that gave us the Walkman and the Trinitron color TV has become a less-inspiring hodgepodge that includes an insurance provider and a semiconductor maker, along with Playstation game consoles and movies. Once ranked the No.1 brand by American consumers, Sony and it’s incoming CEO need new hits to keep from falling further behind Apple Inc. and Samsung Electronics Co.

Sony to enter Japan's taxi-hailing biz to take on SoftBank, Toyota: Source

Sony Corp looks set to become the latest blue-chip firm to jockey for position in Japan's taxi and ride-hailing market, with plans for a joint venture to develop an artificial intelligence-based hailing system, the Nikkei newspaper reported.

Japan is seen as a potentially lucrative ride-hailing market, with regulators under pressure to ease stringent rules.

Currently, non-professional drivers are barred from offering taxi services on safety grounds, and ride-hailing companies are limited to services that "match" users to existing taxi fleets via mobile platforms.

Sony plans to build the AI-based hailing platform with Daiwa Motor Transportation and four other domestic taxi firms, the Nikkei said.

Alibaba joins big brands like Samsung, Sony, others to fight fake goods

Latest News -China's e-commerce giant Alibaba today joined hands with 20 brands to fight counterfeit goods through big data analysis after the US last month labelled the company as one of the world's largest destinations for fake goods.

The first "alliance to fight counterfeits with big data" was initiated by Alibaba in Hangzhou, capital of eastern China's Zhejiang Province, the company said.

Among the first 20 members of the alliance are Chinese and international brands, including Huawei, LV, Swarovski, Dulux, Samsung, Sony and Bioderma.

Alibaba said the move would make the fight against counterfeiting more powerful and transparent.

The move was backed by police authorities in many provinces across China.

"Counterfeiting is rampant in the global market these days, and it's increasingly difficult to eradicate bogus goods using traditional offline means," said Jessie Zheng, Alibaba Group's chief platform governance officer.

She said that Alibaba Group was(Read More)