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Weekly news


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Weekly news

  1. 1. WEEKLY News (13th to19th Sept 2010)
  2. 2. Unhappy with SBI? Just send an SMS <ul><li>This is a unique paperless and instant customer grievances redressal initiative being pilot-tested by the state-run State Bank of India in Andhra Pradesh in a bid to don a customer-friendly avataar. </li></ul><ul><li>SBI, which has for long been weighed down with an image of being a slow-moving ‘sarkari outfit’, has not only designed the software for the system in-house, it has gone one step ahead and filed for a global patent for the initiative branded as the ‘Unhappy Service’. </li></ul>
  3. 3. IBM to handle IT for Bharti Airtel's Africa operations <ul><li>India’s top mobile phone firm Bharti Airtel took the initial steps to replicate its hugely successful outsourcing model in Africa by awarding a $1.5-billion contract to IBM for managing its IT requirements across 16 countries in the continent. </li></ul><ul><li>The 10-year deal will involve IBM consolidating Airtel’s IT operations in Africa into one integrated system. The US firm also handles Bharti’s information technology requirements in India, Sri Lanka and Bangladesh under a 2004 deal, which is estimated to worth at least $3 billion. </li></ul>
  4. 4. Sahara makes $2-bn bid to buy MGM Studio <ul><li>Sahara India Pariwar, an Indian conglomerate with real estate and media holdings has made a $2-billion bid to buy the debt of struggling Hollywood studio Metro-Goldwyn-Mayer Inc. </li></ul><ul><li>The studio has rights to the James Bond franchise and owns half of the upcoming movies based on JRR Tolkien's “The Hobbit.” It is facing possible bankruptcy but has several suitors, including Spyglass. </li></ul>
  5. 5. Four funds eye Honda's stake in Hero Honda Motors: <ul><li>KKR & Co, TPG Capital, Carlyle Group and Bain Capital LLC are competing to acquire a part of Honda Motor Co's stake in India's biggest motorcycle maker, Hero Honda Motors. </li></ul><ul><li>Two of the funds may jointly buy about 15 percent, valued at $1.1 billion in Hero Honda. </li></ul><ul><li>Another 5 percent may be sold to the Munjal family, founders of the Hero group, citing two unidentified people. Honda Motor and the Hero Group each own 26 percent in Hero Honda. </li></ul>
  6. 6. Contd. <ul><li>Honda and Hero have had a successful partnership utilizing Honda's technology and Hero's strength in sales. Hero Honda is by far the biggest motorcycle maker in India, selling more than 4.3 million motorcycles last year. </li></ul><ul><li>Honda's 100 percent owned Honda Motorcycle & Scooter India sold a little more than 1 million units in 2009, doubling sales in the past four years . </li></ul>
  7. 7. Ford plans to launch 8 new vehicles, make India export hub <ul><li>Car maker Ford India plans to launch eight new products in India by mid-decade, with a view to tap the country's fast growing auto market and to make it an export hub. </li></ul><ul><li>Company Managing director Michael Boneham said the company 'has to be there in the small car segment'. </li></ul>
  8. 8. Contd. <ul><li>Since inception, Ford has invested close to one billion dollars to expand its India operations. The company infused 500 million dollars in January 2008 to grow the vehicle manufacturing capacity in Chennai to produce 200,000 units per year and to set up a new state-of-the-art engine manufacturing plant with a capacity of 250,000 units both for domestic and export markets </li></ul>
  9. 9. RBI should not go for further rate hike: Ansal API <ul><li>Real estate developer Ansal API said that any further steps by the Reserve Bank to tighten money supply could hurt the country's real estate sector. </li></ul><ul><li>&quot;The hike in repo rate and reverse repo rate announced by RBI is not going to affect the real estate particularly housing much, but if RBI again goes for a hike in rates then it will certainly impact the real estate sector,&quot; Company's Chairman Sushil Ansal told. </li></ul>
  10. 10. Contd. <ul><li>Stating that apex bank had already taken several monetary measures to control inflation, Ansal said the government should now focus on boosting the supply side to rein in prices . </li></ul><ul><li>&quot;We have demand for 21 million houses in the country and we do not think that it can be met even in the next 10-15 years without the support of the state governments,&quot; he said. </li></ul>