Bolivia is negotiating with India to build the Andean nation′s first pharmaceutical plant, President Evo Morales announced recently.Morales said his government has earmarked $350 million for the project.The talks took place during a ceremony in the central city of Cochabamba with Indian Ambassador Sandeep Chakravorty to sign an agreement for a $3.3 million donation from India to establish "a center of excellence in technology.Bolivia turned to India for the pharmaceutical plant after domestic companies failed to present qualified proposals for the project, the president said.Morales said: "Cuba has advised us that India has a lot of experience in matters of hospitals and health.I want you to know that we are in the process of negotiation. We hope that India can install this pharmaceutical complex in the city of Cochabamba." India has also offered financing to build the pharmaceutical complex.India's Lava phone makes Egypt entry
India's Lava smartphone brand has signed a memorandum of understanding (MoU) with Egypt-based Easy Group to offer Lava products in Egypt through a joint venture company.The MoU was signed by Hari Om Rai, Lava chairman and managing director, and Dr Asser Salama, chairman, Easy Group, at the joint Business Council of India and Egyptian Federation of Chamber of Commerce in New Delhi.With a focus on making reliable and innovative technologies accessible, Lava claims it has an aggressive plan for Egyptian market. It will leverage Easy Group's market leadership position in distribution and reach to make its products available across the country including feature phones, smartphones, tablets and accessories.Rai said: “At Lava, our vision is to empower people to do more and be more - not only in India but also across nations. Our foray in Egypt is a step forward in that direction and we are very delighted to partner with Easy Group who shares our vision and values.“The partnership is also a testimony to our focus on 'Make in India' initiative - In India for India and the World”.Wipro invests in Israel start-up
Indian software company Wipro has invested $1.5 million in Israeli start-up Intsights Cyber Intelligence.In a filing to the Bombay Stock Exchange (BSE), the Bengaluru-headquartered firm said it was acquiring a minority stake in the company.Founded in 2015 by CEO Guy Nizan, VP Intelligence Alon Arvatz and CTO Gal Ben David, the Herzliya-based company infiltrates the cyber-threat underworld to detect and analyse planned or potential attacks and threats, according to the filing.The company also provides advance warning and customised insight concerning potential cyber attacks, including recommended steps to avoid or withstand the attacks and delivers in-depth analysis of cyber threats originating from in-house sources, third-party sources or threat actors.Wipro made the investment through Israel venture capital firm TLV Partners.CashKaro eyes South-East Asia market
Indian cash back and coupons e-commerce start-up, CashKaro, which has been backed by Tata Chairman Emeritus Ratan Tata, is now eyeing the South-East Asian market.The firm is all set to launch in Singapore in the next few months with its affiliate market set-up, which offers aggregate products from various e-commerce sites with the option of discounts and coupons. Cash Karo shares a chunk of the discounts they get from retailers to its customers.Swati Bhargava, co-founder of CashKaro.com, said: “We find a huge scope for a product like us in Singapore.“With the advent of online shopping, fashion as a category has blossomed with shoppers dedicating more time and budget to stay current with the new trends... majority of consumers now prefer to shop online as they have access to wide assortment, best cashback and coupon deals coupled with the convenience to shop from anywhere.”The firm had conducted an India-wide survey recently which revealed that “deals and discounts” were ranked as the most favoured factor among Indian consumers for online shopping by 71 per cent of respondents.Exim Bank extends credit to Malawi
Export-Import (Exim) Bank of India has announced an additional line of credit of $23.50 million to Malawi for construction of a new water supply management from Likhubula river in Mulanje to Blantyre.The credit will be used for sourcing of goods and services from India, the bank said in a statement.Under the agreement, Exim Bank will reimburse 100 per cent of contract value to the Indian exporters, upfront upon shipment of goods.The bank has extended four lines of credit to Malawi, taking the total value for the country to $180 million.Exim Bank has in place 209 lines of credit covering over 63 countries in Africa, Asia, South America, Europe and the CIS, with credit commitments of over $15 billion, available for financing exports from India.