weekly news

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weekly news

  1. 1. Amway planning second facility in India •  Amway India, a direct selling Fast Moving Consumer  Goods (FMCG) company, planned to set up their second  manufacturing facility in the country in South India • It would help the company to boost its sales and increase  its product range • The company, a 100 per cent subsidiary of US-based  Amway Corporation, had been witnessing a 25 per cent  year-on-year growth in its revenues • For setting up the present manufacturing facility, the  company has inked an agreement with Baddi-based  vendor Sarvotham Care Ltd
  2. 2. RBI likely to hike policy rates this week to curb inflation • The Reserve Bank may further hike its key policy  rates during the monetary review on September  16, going by the suggestion of Finance Minister  Pranab Mukherjee to the central bank to take  more steps to check rising prices • It may further tighten its policy rates to tackle  rising inflation, specially food prices, with strong  July industrial production numbers providing  confidence that the growth won't be impacted by  the move
  3. 3.   Lotto to expand retail reach in India • Italian sportswear brand Lotto is working on strengthening its  presence in India by expanding retail reach and driving  volume growth •  In Asia, India currently comes at number three after Japan  and China in terms of turnover contribution to Lotto's global  sales • Today Lotto has about 45 exclusive stores, which are likely to  go up to 200 in the next three years. The parent company has  also said that it will invest USD 10 million in providing  marketing support to the Indian entity • Recently, Lotto has extended its agreement with us (Sports  Lifestyle) for the next 15 years. This means that the company  is committed to India
  4. 4. Google's Android to be world No. 2 in 2010 • Google Inc's Android software will become the  world's second most popular operating system for  cell phones this year • By 2014 Android will account for nearly 30 percent of  all cell phone operating system sales, according to  research firm Gartner, putting it in position to  challenge Nokia Corp's Symbian software, which has  reigned as the top mobile operating system for  years.  • Android became the No. 1 operating system for U.S.  smartphones in the second quarter
  5. 5. Axis plans HR overhaul to build its future team • Axis bank is taking the assistance of human resource consultancy firm Cerebrus Consultants and Hewitt to get its HR structure aligned to its growth strategy • The bank had created verticals around various businesses and is now looking to deploy human resources around this structure and putting in place a fitting compensation package. • Ms Shikha Sharma said one of Axis’ strengths was its relationship with its retail customers, and it was now looking at deepening the relationship through a wider product range. In the works is capital market services such as internet broking, for which the bank will seek a broking licence through its wholly-owned subsidiary, Axis Sales, which is currently a distribution arm.
  6. 6. Axis plans HR overhaul to build its future team • Axis bank is taking the assistance of human resource consultancy firm Cerebrus Consultants and Hewitt to get its HR structure aligned to its growth strategy • The bank had created verticals around various businesses and is now looking to deploy human resources around this structure and putting in place a fitting compensation package. • Ms Shikha Sharma said one of Axis’ strengths was its relationship with its retail customers, and it was now looking at deepening the relationship through a wider product range. In the works is capital market services such as internet broking, for which the bank will seek a broking licence through its wholly-owned subsidiary, Axis Sales, which is currently a distribution arm.

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