ECONOMIC TIMES
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Reliance Industries bought a 14.12% stake in EIH, which runs Oberoi and Trident hotels, possibly ending speculation that ITC may pursue a hostile takeover. EIH has 2,900 rooms and is valued at Rs. 2900 crores. ONGC wants consent over Cairn Energy's planned sale of a majority stake in Cairn India to Vedanta for $9.6 billion (Rs. 45,000 crore), saying it requires scrutiny as it represents a change in ownership. Rishad Premji is appointed the new Chief Strategy Officer of Wipro, effective September 1, while Lakshminarayana KR will become Chief Endowment Officer from January 1
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Weekly news 9
ONGC's first commercial power project costing Rs 9,000 crore will start generating electricity next year in Palatana, Madhya Pradesh. ICICI Bank launched an instant cross-border money transfer option called I-Express for NRIs to transfer funds instantly into beneficiary accounts in India through ICICI Bank's partners in Gulf countries. Coal India plans to sell 63.16 crore shares in an IPO priced between Rs 225-245 per share, which would reduce government ownership to 90% after the offering.
Weekly resentation 7
Seven Indian energy companies were selected as finalists for the Platts Global Energy Awards, which recognizes leadership in the energy industry. Platts will select an Energy Company of the Year from these finalists. ONGC commented that it will issue its response to Cairn Energy's plans to sell its Indian unit to Vedanta Resources. The Reserve Bank of India hopes to reduce inflation to 6% by the end of the fiscal year through measures to improve supply. The Indian stock markets ended lower for the second consecutive session due to profit taking, though losses were trimmed in the last hour of trading. Gold and silver prices fell from record highs in India due to profit-taking and a weakening international trend.
Et news Daman 21 nov
GM India plans to invest $300 million over the next two years to launch six new products including a compact car, sedan, multi-utility vehicles, van, and pick-ups. SKNL is undertaking efforts to reposition its apparel brands Reid & Taylor and Belmonte in India including seeking proposals from advertising agencies. Tata Power aims for 25% of its power generation from clean sources like wind by 2017, and will invest around Rs. 5,000 crore in wind energy projects, adding 750-800 MW annually through 2017. Crompton Greaves has become the world's first company to develop a 1,200 KV capacitive voltage transformer.
weekly news
Dr Reddy's Laboratories acquired GSK's oral penicillin facility and products in the US, while GSK will retain rights for non-US markets. The companies had entered a strategic partnership for emerging markets. GSK will gain access to Dr Reddy's portfolio and future pipeline of 100 branded pharmaceuticals. Toyota is launching the Etios sedan in India at Rs. 5.25 lakh to compete with established models like the Maruti Dzire, Tata Indigo, and Honda City, powered by a 1,500cc petrol engine. India introduced mobile number portability allowing customers to switch operators without changing numbers, with a maximum porting fee of Rs. 19 to the new operator and a minimum three month stay.
Weekly news
Dr Reddy's Laboratories has acquired GSK's oral penicillin facility and products in the US, while GSK will retain rights for non-US markets. Dr Reddy's had previously partnered with GSK to pursue opportunities in emerging markets, and GSK will now gain access to Dr Reddy's portfolio of around 100 branded pharmaceuticals. Toyota is launching the Etios, an entry-level sedan priced around Rs. 5.25 lakh, to compete against established models like the Maruti Dzire, Tata Indigo, and Honda City. India has introduced mobile number portability allowing cellphone users to switch operators without changing numbers.
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Weekly news 9
ONGC's first commercial power project costing Rs 9,000 crore will start generating electricity next year in Palatana, Madhya Pradesh. ICICI Bank launched an instant cross-border money transfer option called I-Express for NRIs to transfer funds instantly into beneficiary accounts in India through ICICI Bank's partners in Gulf countries. Coal India plans to sell 63.16 crore shares in an IPO priced between Rs 225-245 per share, which would reduce government ownership to 90% after the offering.
Weekly resentation 7
Seven Indian energy companies were selected as finalists for the Platts Global Energy Awards, which recognizes leadership in the energy industry. Platts will select an Energy Company of the Year from these finalists. ONGC commented that it will issue its response to Cairn Energy's plans to sell its Indian unit to Vedanta Resources. The Reserve Bank of India hopes to reduce inflation to 6% by the end of the fiscal year through measures to improve supply. The Indian stock markets ended lower for the second consecutive session due to profit taking, though losses were trimmed in the last hour of trading. Gold and silver prices fell from record highs in India due to profit-taking and a weakening international trend.
Et news Daman 21 nov
GM India plans to invest $300 million over the next two years to launch six new products including a compact car, sedan, multi-utility vehicles, van, and pick-ups. SKNL is undertaking efforts to reposition its apparel brands Reid & Taylor and Belmonte in India including seeking proposals from advertising agencies. Tata Power aims for 25% of its power generation from clean sources like wind by 2017, and will invest around Rs. 5,000 crore in wind energy projects, adding 750-800 MW annually through 2017. Crompton Greaves has become the world's first company to develop a 1,200 KV capacitive voltage transformer.
weekly news
Dr Reddy's Laboratories acquired GSK's oral penicillin facility and products in the US, while GSK will retain rights for non-US markets. The companies had entered a strategic partnership for emerging markets. GSK will gain access to Dr Reddy's portfolio and future pipeline of 100 branded pharmaceuticals. Toyota is launching the Etios sedan in India at Rs. 5.25 lakh to compete with established models like the Maruti Dzire, Tata Indigo, and Honda City, powered by a 1,500cc petrol engine. India introduced mobile number portability allowing customers to switch operators without changing numbers, with a maximum porting fee of Rs. 19 to the new operator and a minimum three month stay.
Weekly news
Dr Reddy's Laboratories has acquired GSK's oral penicillin facility and products in the US, while GSK will retain rights for non-US markets. Dr Reddy's had previously partnered with GSK to pursue opportunities in emerging markets, and GSK will now gain access to Dr Reddy's portfolio of around 100 branded pharmaceuticals. Toyota is launching the Etios, an entry-level sedan priced around Rs. 5.25 lakh, to compete against established models like the Maruti Dzire, Tata Indigo, and Honda City. India has introduced mobile number portability allowing cellphone users to switch operators without changing numbers.
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Weekly news
Reliance Industries reported a 27.8% rise in its second quarter net profit, beating forecasts. Chairman Mukesh Ambani said improved refining margins and high operating rates across manufacturing facilities led to record results. Honda recalled 528,000 vehicles worldwide due to potential issues with a master brake cylinder seal made by the same Japanese supplier as Toyota, which recalled 1.5 million vehicles for the same issue. China ordered banks to only offer a maximum 15% discount on mortgage interest rates, down from the previous 30%, to discourage property purchases and tighten bank lending policies. The Asian Development Bank chief warned Asian nations to carefully manage large capital inflows to avoid remedies that could destabilize economies.
Weekly news
- English clothing brand Stephens Brothers is targeting 30-40% revenue growth this fiscal year and plans to expand its retail presence through a partnership with large store chain Central in cities like Bangalore, Hyderabad, and Pune.
- Honda is recalling over 528,000 vehicles worldwide due to a potential issue with the master brake cylinder seal supplied by ADVICS, a Japanese auto parts company. A similar recall was issued by Toyota for 1.5 million vehicles. No accidents have been reported.
- Indian automaker Maruti Suzuki reported a 4.95% rise in quarterly net profit backed by record quarterly sales, although margins were impacted by higher commodity prices and royalty payments to Suzuki.
Curriculum Vitae
Abhineet Das is seeking entry level assignments in business analysis, consultancy, sales, and marketing with a growth-oriented organization anywhere in India. He has an MBA in Super Marketing from Punjab College of Technical Education, Ludhiana and gained exposure during an internship with Godrej & Boyce Manufacturing Co. Ltd. His strengths include analytical and problem solving skills as well as excellent communication skills.
ECONOMIC TIMES
Tata Motors will launch its new crossover vehicle called the Aria within the next month, pricing it around 10 lakh rupees. The Aria is positioned between an SUV and MUV to compete with the Toyota Innova and Mahindra Xylo. Volkswagen is looking to extend its partnership with Suzuki in India by using Maruti-Suzuki's new manufacturing plant in Manesar. Suzlon Energy has surpassed 5,000 MW of cumulative wind power installations in India, serving over 1,500 customers across eight states.
ECONOMIC TIMES
- Kingfisher Airlines owes Rs 245 crore to Bharat Petroleum Corporation for aviation fuel purchases, though BPCL has stopped providing fuel on credit and now requires cash payment.
- Emami Ltd, which owns Zandu Balm, settled a copyright dispute with the producers of the film 'Dabangg' and will now use the song 'Munni Badnaam' in its promotional campaigns. It is also in talks about using the film's item number dancer Malaika Arora Khan as a brand ambassador.
- A report by the National Council of Applied Economic Research found that despite recent economic slowdown, the number of high-income households in India has surpassed the number of
ECONOMIC TIMES
Suzuki plans to set up a third automobile manufacturing plant in India by 2013 at its existing site in Manesar. The new plant aims to boost Suzuki's production capacity in India to 8 lakh vehicles annually from the current 3.6 lakh. Suzuki's market share in India has dropped recently, providing motivation for increased production.
Intas Pharma, an Ahmedabad-based pharmaceutical company, plans to raise Rs. 750-800 crore through an initial public offering by selling a 15% stake. The funds will be used to expand Intas' overseas operations.
The Indian Petroleum Ministry has asked Cairn Energy to obtain fresh approvals for Vedanta Industries' proposed acquisition of
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Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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Weekly news
Reliance Industries reported a 27.8% rise in its second quarter net profit, beating forecasts. Chairman Mukesh Ambani said improved refining margins and high operating rates across manufacturing facilities led to record results. Honda recalled 528,000 vehicles worldwide due to potential issues with a master brake cylinder seal made by the same Japanese supplier as Toyota, which recalled 1.5 million vehicles for the same issue. China ordered banks to only offer a maximum 15% discount on mortgage interest rates, down from the previous 30%, to discourage property purchases and tighten bank lending policies. The Asian Development Bank chief warned Asian nations to carefully manage large capital inflows to avoid remedies that could destabilize economies.
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- Honda is recalling over 528,000 vehicles worldwide due to a potential issue with the master brake cylinder seal supplied by ADVICS, a Japanese auto parts company. A similar recall was issued by Toyota for 1.5 million vehicles. No accidents have been reported.
- Indian automaker Maruti Suzuki reported a 4.95% rise in quarterly net profit backed by record quarterly sales, although margins were impacted by higher commodity prices and royalty payments to Suzuki.
Curriculum Vitae
Abhineet Das is seeking entry level assignments in business analysis, consultancy, sales, and marketing with a growth-oriented organization anywhere in India. He has an MBA in Super Marketing from Punjab College of Technical Education, Ludhiana and gained exposure during an internship with Godrej & Boyce Manufacturing Co. Ltd. His strengths include analytical and problem solving skills as well as excellent communication skills.
ECONOMIC TIMES
Tata Motors will launch its new crossover vehicle called the Aria within the next month, pricing it around 10 lakh rupees. The Aria is positioned between an SUV and MUV to compete with the Toyota Innova and Mahindra Xylo. Volkswagen is looking to extend its partnership with Suzuki in India by using Maruti-Suzuki's new manufacturing plant in Manesar. Suzlon Energy has surpassed 5,000 MW of cumulative wind power installations in India, serving over 1,500 customers across eight states.
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- Emami Ltd, which owns Zandu Balm, settled a copyright dispute with the producers of the film 'Dabangg' and will now use the song 'Munni Badnaam' in its promotional campaigns. It is also in talks about using the film's item number dancer Malaika Arora Khan as a brand ambassador.
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ECONOMIC TIMES
- 1. ECONOMIC TIMES Weekly News w.e.f 30 th August,2010 – 3 rd September, 2010 Submitted By: Abhineet Das MBA 2A 94972238133
- 2. Mukesh picks up 14.12% in EIH for 1,021 crore
- 4. Cairn must take our consent for stake sale: ONGC
- 6. Rishad Premji is new strategy boss at Wipro