Economic Times Presentation(13 Sept- 18 Sept) Tanvi Sharma MBA-2C
India, China rule Forbes’ Asia Pacific list Infosys, TCS, ITC and Mahindra & Mahindra are amongst 16 Indian companies named in Forbes’ magazine ‘s 2010 compilation of Asia Pacific’s 50 biggest companies. India and China together account for 32 out of 50 companies in Forbes’ 6th annual Asia’s fabulous 50 listed companies. Axis Bank and ITC are the best performers in their respective industries.
Continued……. Axis Bank’s revenues rose by 29% to hit $3.4 billion. It is currently having assets of around $41 billion. Axis Bank’s net profits also increased by 57% to reach $553 million. Axis bank is looking to add 200 more branches to its current figure of 1,055 branches.
GE to set up plant in India General Electronic plans to set up a new manufacturing plant in India with an investment of up to $50 million. It will also be hiring around 3,000 people for its technology centre. Currently it has 5,000 persons working for it.
Sharp rise in ATM transactions Transaction on third-party ATMs have almost doubled from the beginning of the year. Transactions from ATMs have increased from 5.68 crore in January to 10.18 crore in August. Number of ATMs have increased from 53,906 to 61,702.
ZTE bags $200 million RCOM contract ZTE Corporation (Chinese telecom equipment supplier) has bagged two contracts worth Rs 1,220 crore from domestic mobile operators. ZTE recently had a Rs 300-crore WiMAX deal with BSNL. Now ZTE has clinched a near $200-million contract from RCOM to supply a mix of 3G and 2G gear in eight circles.
Metro Cash to start operations in Punjab German retailer Metro C & C would make its wholesale distribution centers at Zirakpur and Ludhiana by mid-2011. Metro signed an MOU with the Punjab Government in 2009 to open six such stores. Metro will be investing around Rs 900 crore in Punjab. Metro’s Stores across Punjab will be creating 1,000 jobs for local youth.