2. IOC, HPCL hike prices of petrol
Indian Oil Corporation , the nation's largest fuel retailer, is likely to hike petrol prices by Rs
0.33 per litre.
IOC Chairman B M Bansal said international crude oil prices have risen since the last price
revision, necessitating an increase in domestic retail prices.
IOC is losing about Rs 1 on sales of every litre of petrol, as crude oil prices have climbed to
$87 per barrel from $81-82 at the time of the last revision.
This will be the third increase in Indian domestic retail prices of petrol since India ended
government control of petrol prices in late June.
Another state-run refiner, Hindustan Petroleum, raised petrol prices by 31 paise a litre from
Monday.
3. Kelloggs to launch more affordable products in India
Breakfast food-maker Kelloggs plans to introduce more
affordable products targeted at the mass market segment to
penetrate deeper into India.
Targeted at males over 35 years of age.
Other FMCG giants like Britannia and GSK Consumer
Healthcare have also expressed their interest in getting into the
Indian breakfast cereals market.
4. Facebook is third largest US Web co
SAN FRANCISCO: Facebook Inc's estimated worth is now bigger
than EBay Inc's valuation, making it the third-largest US Internet business and
underscoring the growing allure of social media for investors.
Facebook's stock is trading at more than $16 on SecondMarket Inc, an
exchange for shares of privately-held companies.
Facebook only trails Amazon.com Inc, worth $74.4 billion, and Google Inc,
valued at $192.9 billion, among US Internet companies.
Facebook has attracted more than 500 million users and a horde of advertisers
hoping to reach them.
5. India to be world's fastest growing economy by 2012: StanChart
India is set to become the fastest growing major economy in the world by 2012
and will be third largest by GDP-size in the next two decades, behind China and
the USA, a global study by British banking giant Standard Chartered said.
The country's contribution to global GDP will go up to 10 per cent of the total
pie of approximately $600-trillion while China's will be 24 per cent, he added.
StanChart expects the country to grow at an annual 9.3 per cent for the next two
decades and the per capita income of Indians will shoot up to $7,000 by 2030
from the current $1,000, he added.
6. Google lines up pay hike, bonus for top execs
NEW YORK: Internet search giant Google has approved a handsome pay hike of 30%
and bonuses of 250% of the base salary for its top executives starting next year.
Google has approved an increase to the annual base salaries (effective as of January 1,
2011) of its executive officers, after a review of performance and competitive market
data, and as part of a broad-based review of the company's compensation programs.
Google said its four top executives — Patrick Pichette, Chief Financial Officer, Global
Business Head Nikesh Arora, Engineering-and-Research Chief Alan Eustace and
product chief Jonathan Rosenberg — would each see their increase in pay from
$500,000 to $650,000 next year. This represents a rise of 30%.
The news comes days after several media reported that Google is planning to give a 10
per cent salary hike to all of its 23,000 employees across the world starting next year.
Google, which has a strong presence in India, has a workforce of about about 2,000
employees.
