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Virmani says that while the economic problems in Ireland won't directly impact India, it could hurt market sentiment. He notes that India will need to rely on domestic economic growth given the current weak external situation. Ambani describes Reliance's story as being about partnerships, including those with the US, and notes that Reliance processes around 2% of the world's transportation fuels. Rajan is named as one of the seven most powerful economists in the world alongside Bernanke and Krugman. Jain's chances of becoming Deutsche Bank's new CEO may be undermined by a shift in power within the bank favoring its chief risk officer Baenziger.
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The document provides a weekly news summary covering several topics:
1) Tata Group donated $50 million to Harvard Business School, the largest gift from an international donor in Harvard's 102-year history, after an earlier $10 million donation from Anand Mahindra.
2) Security was heightened in Delhi during the Commonwealth Games due to intelligence of planned attacks by al-Qaeda and Lashkar-e-Taiba targeting the Games village and venues on October 12-13.
3) The US Air Force's secret X-37B space shuttle mission in orbit since April was reported to have gone missing again, with speculation about its purposes.Weekly news
Weekly newsTaran Dhingra
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1) Air India requested an additional Rs. 2,000 crore from the government to repay debts as it requires Rs. 3,000-4,000 crore annually and has a massive debt primarily from aircraft purchases.
2) The Department of Telecommunications asked mobile operators to reverify 100% of subscribers by October 30th, posing a challenge given India's large mobile subscriber base of over 670 million people.
3) The first phase of NTPC's 1,980 mw power plant in Chhattisgarh is expected to become operational in December, with the second phase in March next year.Weekly news
Weekly newsTaran Dhingra
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1) Air India requested an additional Rs. 2,000 crore from the government to repay debts as it requires Rs. 3,000-4,000 crore annually and has a massive debt primarily from aircraft purchases.
2) The Department of Telecommunications asked mobile operators to reverify 100% of subscribers by October 30th, posing a challenge given India's large subscriber base of over 670 million people.
3) The first phase of NTPC's 1,980 mw power plant in Chhattisgarh is expected to become operational in December, with the second phase in March next year.Weekly news 5
Weekly news 5Taran Dhingra
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Mahindra Satyam will delist from the NYSE after realizing it cannot meet financial reporting deadlines. This caused a 26% drop in its ADRs and a 6% drop in its domestic shares.
A media report claimed that India bribed 72 Commonwealth countries $100,000 each to win the hosting rights for the 2010 Delhi Commonwealth Games. Australia allegedly received a $125,000 kickback.
Tata Motors will launch the Aria, a crossover vehicle built by Indian engineers, within a month. It is expected to be priced around Rs. 10 lakh and will compete with the Toyota Innova and Mahindra Xylo.
Security agencies have approved of BlackBerry makerSummer training project
Summer training project Taran Dhingra
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Ralson is India's largest bicycle tyre manufacturer. It produces 1.25 lakh bicycle tyres and 1.5 lakh tubes per day. The document analyzes Ralson's marketing mix, including its distribution network, pricing strategy, and promotional activities. It also summarizes the findings of a study on dealers' perceptions of Ralson's auto products compared to competitors like MRF and Dunlop. The study found that Ralson's brand awareness and dealer network needed improvement.Weekly news 4
Weekly news 4Taran Dhingra
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1) Farmers in drought-hit districts in India will receive a diesel subsidy of Rs. 500 per hectare due to unusually heavy monsoon rains.
2) Jet Airways and Kingfisher Airlines maintained the top two positions on the domestic aviation market in India in August 2010.
3) HUL has filed a lawsuit against P&G claiming a Pantene shampoo advertisement disparages HUL's Dove brand.Weekly news 3
Weekly news 3Taran Dhingra
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India is expected to hike interest rates again to battle inflation that remains around 10%. Skilled professionals are in high demand as companies face talent shortages. Mukesh and Anil Ambani's groups accounted for over 90% of failed M&A deals this year totaling $27 billion, including Reliance Industries' $14.5 billion bid and Reliance Communications' $10.8 billion tower merger. Food inflation rose to 11.47% while fuel inflation remained at 12.71% according to government data. Mukesh Ambani is forecasted to become the richest man in the world in 2014 with a net worth of $62 billion according to Forbes.Weekly news 2
Weekly news 2Taran Dhingra
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1) Maruti Suzuki plans to build a new auto assembly plant in Manesar, India to produce 250,000 vehicles annually and meet growing demand.
2) Rishad Premji, son of Wipro founder Azim Premji, has been appointed Chief Strategy Officer of Wipro and will help chart the company's future strategy.
3) After stepping down as chairman of Tata Sons, Ratan Tata said he is looking forward to the freedom that retirement will bring.Weekly news
Weekly newsTaran Dhingra
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1) Maruti Suzuki plans to build a new auto assembly plant in Manesar, India to produce 250,000 vehicles annually and meet growing demand.
2) Rishad Premji, son of Wipro founder Azim Premji, has been appointed Chief Strategy Officer of Wipro and will help chart the company's future strategy.
3) After stepping down as chairman of Tata Sons, Ratan Tata said he is looking forward to the freedom that retirement will bring.Weekly news (compiled by: Taranpreet )
Weekly news (compiled by: Taranpreet )Taran Dhingra
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ONGC's royalty payments on oil fields in Rajasthan have been reduced, removing an obstacle to the proposed Vedanta-Cairn merger and saving ONGC $350 million annually. The CEO of Tech Mahindra resigned after six years, with the vice-chairman taking over operational responsibilities. Tata Motors signed an agreement with IndusInd Bank for financing passenger vehicles. Air India decided to lower fares on 48 domestic routes by 3-23% to increase its market share.Ad
Weeklynews
- 1. Weekly News (15 th -21 st Nov 2010)
- 2. Ireland wont impact directly, could hit sentiment: Virmani Indias executive director at the International Monetary Fund Arvind Virmani says India could grow faster than China from the middle of the current decade. The key takeaway from Indias perspective is that its going to be a slow recovery. Because the external situation is weak, we really have to depend on our domestic economy. Europe has not been contributing to global growth at all for the last four years. But they do affect sentiments, and they affect capital flows and gold prices, and commodity prices and so on.
- 3. Think of Reliance when you fly or drive a car: Mukesh Think of Reliance when you fly or drive a car or when things move in a truck as the country's most valued company processes about 2 per cent of the world's transportation fuels, said company Chairman Mukesh Ambani. Receiving the Dwight D Eisenhower Global Award for leadership by the US-based Business Council for International Understanding (BCIU), Ambani described the Reliance story as a story of partnerships and further noted the partnerships are really with the US, which started with his education at Stanford University.
- 4. Raghuram Rajan among world's 7 most powerful economists Renowned Indian-origin academician Raghuram Rajan has been named alongside US Federal Reserve Chairman Ben Bernanke and Nobel laureate Paul Krugman among the seven most powerful economists in the world, according to a compilation in Forbes magazine. These are seven influential individuals each from the world's nearly seven billion people for fields such as education, Hollywood, media, entrepreneurs, economists, energy, philanthropists, bloggers, designers, feminists and fashion.
- 5. Anshu Jain's CEO challenge gets tougher Deutsche Bank investment banking chief Anshu Jains chances of clinching the CEO post are being undermined by a power shift within the bank that works in favour of chief risk officer Hugo Baenziger The 54-year-old Swiss board member is not a rainmaker like India-born Jain, who is seen as a front runner to succeed Josef Ackermann because he heads the investment bank which makes up almost 80% of Deutsche Banks profit.
- 6. Nooyi, Jha, Pandit among US top paid CEO: Report Three Indian origin executives -- PepsiCo's Indra Nooyi , Motorola's Sanjay Kumar Jha and Citigroup's Vikram Pandit -- have found a place among America's top paid chief executive officer, says a survey. Nooyi has bagged the 67th slot, Jha got the the 377th place and Pandit got the 450th position according to a ranking compiled by The Wall Street Journal.