Weekly News: 30-08-2010 to 05-09-2010 Compiled by: Taranpreet Kaur Mba-2(A)
Maruti Suzuki to build new auto plant in Manesar; to produce 2.5L vehicles a year
Japan's top minicar maker Suzuki Motor Corp. is to build a new auto assembly plant near New Delhi in a bid to meet growing demand in the country.
Maruti Suzuki India Ltd., a local subsidiary of Suzuki, plans to construct the new plant in Manesar near its assembly base, with operation scheduled to begin in 2013.
The plant, its third in Manesar, will be built at a cost of 30 bn yen (356 mn dollars) with an annual capacity of 250,000 vehicles
Rishad Premji is Wipro's new strategy boss
Rishad Premji, one of the heirs to Azim Premji’s nearly $17-b empire, will get a chance to prove his management mettle at the top echelons of Wipro after he was appointed chief strategy officer of India’s third-biggest software services exporter.
The 33-year-old Rishad, widely perceived as Mr Premji’s successor at Wipro, will chart future strategy, identify new business areas and help draw up a vision plan. He will report to the joint CEOs, Suresh Vaswani and Girish Paranjpe.
“ The changes will be effective January 2011. However, Rishad will move into the strategy function from September 1, 2010.
After bidding Tata good bye, Ratan wants to just break free
Ratan Tata, who has spent the better part of his life in the last two decades unifying a disparate Tata group and giving it a vision and long-term focus, said he is looking forward to the freedom that retirement brings.
Tata Sons, the holding company of the $71-billion salt-to-software Tata group, announced a five-member panel in early August to choose a successor to Mr Tata, who has been chairman since 1991.
This is the first such effort by an Indian business group to professionalise the search for a new leader.
Food and fuel inflation rises again
Food and fuel inflation shot up in the week ended August 13, belying the expectation that prices will soften gradually following a good monsoon.
Food price index rose at an annual rate of 10.86% in the week after declining for two straight weeks.
It was marginally lower at 10.05% a week ago.
The stickiness in food price inflation is sure to worry the Reserve Bank of India as it tries to rein in the high overall inflation.
Fuel prices, too, inched up marginally to 12.71% from 12.57% the week before.
Taiwan's HTC: iPhone's `quiet' challenger
East Asia is the world's electronics factory, yet unless they are Japanese, producers are anonymous.
Now HTC Corp., a Taiwanese maker of smart phones, is moving out of the shadows and trying to establish its own brand name as it competes with Apple's iPhone.
HTC supplies major US carriers Verizon, Sprint and T-Mobile.