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Business
- Head of GM Europe may join Tata motors: Report
Frankfurt: The European chief of General Motors (GM), Carl-Peter Forster, may switch to Indian car manufacturer Tata, German media reported Saturday.
Gold prices close in Rs 17K per 10 gram levelNew Delhi: Gold prices today spiked to a new high of Rs 16,900 per 10 gram in the bullion market here on strong marriage season demand amid firming global trends.
Nano vendors will shift to Sanand by MarchRajkot/Ahmedabad: Nearly 60 vendors will move to the vendor park at Tata Nano’s Sanand plant by March next year. The rollout of the car is set for the January to March quarter, and vendors will feed the plant at existing locations till they shift.
SBI slashes deposit rates by 25-50 bpsMumbai: The country’s biggest lender, State Bank of India (SBI), today slashed interest rates on domestic term deposits by 25-50 basis points (bps) across maturities to reduce cost of funds.
- Ford Taurus in one-week production halt
Detroit: A labor dispute at an auto parts supplier in India has forced Ford Motor Co to shut production of its new Taurus full-size sedan one week due to a transmission component shortage, a spokesman said on Friday.
Megha Mittal shows family's steel in fashion coupFrankfurt: By snapping up insolvent German fashion house Escada, Megha Mittal, daughter-in-law of steel magnate Lakshmi Mittal, launched the type of corporate coup more associated with her famous namesake.
CEOs@work: Of leadership virtues and succession gamesBe it debate on ‘vulgar’ salaries, or the question of grooming successors, the vision of Chief Executive Officers (CEOs) determine the growth path of an organization. CEOs also tend to make a style statement, other than the annual vision statement that comes by way of market projections- a statement that guides the fleet of workforce they lead.
Jobs, Buffet, Nooyi among top 5 CEOs of the decadeHe single-handedly saved Apple, wrought a revolution in online music, created a world-beating smartphone and led Pixar to dominate computer animation. So it's no surprise that Apple chief executive Steve Jobs was named CEO of the decade Thursday by Fortune magazine, which said that Jobs' success in reordering four industries - computers, music, movies and mobile telephones - was "unheard of."
- Sensex rallies on strong global cues
Mumbai: The markets have continued from where they left last evening, with the Sensex gaining 185 points at 16,249 and the Nifty placed at 4828, up 63 points.
- Apple's Steve Jobs named CEO of the decade
San Francisco: He single-handedly saved Apple, wrought a revolution in online music, created a world-beating smartphone and led Pixar to dominate computer animation.
- BCCI opens bidding for 10-yr IPL theatre rights
Mumbai: Leading multiplexes and media companies are queuing up for the theatrical rights to the Indian Premier League (IPL)cricket matches for the coming decade.
- Trai mulls fixing SMS termination charges
New Delhi: In the next few months new operators offering a large number of free short messaging service (SMS) deals to attract mobile subscribers might soon find it difficult to do so. Telecom operators that have contracted bulk deals with companies to send unsolicited messages to operators in other networks might also find it more expensive.
- Microsoft launches online services in India
New Delhi: Software giant Microsoft announced the commercial availability of its online services in India at prices starting from $2 (Rs 95) per user per month which will allow small and medium enterprises (SMEs) and enterprise customers to access Microsoft’s e-mail, collaboration, conferencing and productivity capabilities online.
- Murthy's wife sells 1.6 mn Infosys shares for Rs.4.3 bn
Bangalore: Sudha Murthy, wife of Infosys Technologies co-founder N.R. Narayana Murthy, sold 1.6 million shares of her holding in the IT bellwether for over Rs.430 crore (Rs.4.3 billion/$91.5 million), the company said Thursday.
- No cap on CEO's salary in new Companies Bill: Khurshid
The existing 11 per cent cap on salaries of CEOs of corporates has been removed in the new Companies Bill-2009.
Finance
- Are you insured against floods?
Flood insurance denotes the specific insurance coverage against property loss from flooding. The protection offered by most policy covers losses incurred due to some failure at the home itself. However, Flood insurance indemnifies the insured for the loss of property that occurs specifically due to overflowing water bodies or flood. Flood insurance is specifically needed for properties situated in flood-prone areas.
- How does a premium waiver rider benefit you?
One of the most popular and important riders added to an insurance policy is the ‘Waiver of Premium’ rider. If this rider is a part of one’s insurance policy, it ensures that the premiums to be paid by the insured are waived in the event that the insured becomes ‘completely disabled’ or loses his source of revenue because of unemployment owing to an injury or sickness. In such a situation, even though the premiums are not paid by the insured, the policy does not lapse.
- An apartment for rent? Here is your checklist!
No matter how you find the place you are deciding to rent a personal tour is absolutely crucial, even if it is recommended by your best friend. Visit, visit and visit the apartment. This is because only you know what exactly will make you comfortable in your house, what difficulties you have faced in the place you lived earlier etc. Go from room to room, preferably with your family and let each one state their opinions. This way you will not miss out on anything.
- Why is stamp duty important?
In the case of real estate transactions, mortgage deeds etc. which tend to be high, the stamp duty value is also high. Stamp Duty charges also vary from state to state and is left to the discretion of the state government. There is a state to state wide variation in stamp duty rates across the country. In the state of Tamilnadu for instance, about 8% of the property value is claimed for stamp duty and about 1% is claimed for registration charges of the property.
- Money mantras for a happy marriage
The Iyers had a simple formula - If they earned Rs. 100/- whether Raghu’s salary or Radha’s freelance income Rs.30.00 went towards investments. Of this - Rs.10 went to long term saving, Rs.10 went to short term (1-2 years) needs and Rs.10 went to build an emergency corpus. After a couple of years they had created an emergency corpus which enabled them to start investing that Rs.10 for their children.
- The perfect retirement savings plan
Typically, people in their late 20s and early 30s, with family obligations, should begin by looking at property. In fact, up to 50% of your fund should be invested in property, as it appreciates over the long term. Following this should be up to 30% exposure in equities/ mutual funds, to reap the high returns they promise over the long term. 10% in long-term bonds and debentures will yield a fixed return over a period of time. Liquidity is as important, so invest 5% in gold, fixed deposits and 5% in cash.
- IndusInd Bank targets 25% growth this year
- Federal Bank Net Up by 30.16%
- Corporation Bank Net Up 52%
- OBC to Open Offices in UK and Hong Kong
is planning to expand its global footprint by opening offices in the UK and Hong Kong. Earlier this year, the bank had opened a branch in Dubai on March 30. With this, the bank got overseas presence first time after being established in Lahore in 1943.
BPO News
- Genpact net income down 1.6%, reaffirms outlook
Revenues from clients other than GE represented 60.8% of Genpact’s total revenues
- Big deals begin to click again for IT companies
While many of the deals came at lower prices than earlier, analysts believe prices are stabilising
- TCS bags Rs 1,160-cr deal in UK
TCS has been chosen as strategic IT partner by the City Council of Cardiff in Britain for 15 years
- iGate to hire 1,500 people next year
iGate’s plan to increase the headcount is a reflection of the business environment
- Worst may be over for major Indian IT firms
Top three IT firms — TCS, Infy and Wipro — either met or beat market and analyst expectations in the last quarter, registering their best performance in six quarters
- MoU signed to set up rural BPO centres in 22 AP districts
Over 1,000 people would get direct employment through the rural BPO centers in the next 12-15 months
- Australian telco to offshore 150 jobs to Mumbai by 2010
Around 200 employees of Crazy John’s will face redundancy as part of its restructuring programme in the first half of 2010
- Wipro Q2 consolidated net up 19% at Rs 1,161 cr
The company is seeing more stability in volumes and pricing as well as an improving demand environment
- Mahindra Satyam to position itself as ICT company
The rebranded Satyam Computer Services, is set to position itself as an information and communication technologies (ICT) company
- Firstsource wins NOA, UK award
The award recognizes services delivered by Firstsource to a premiere telecom client
- Wipro bags 10-year contract for Delhi airport
The total outsourcing engagement will deliver business IT alignment for DIAL by combining airport solutions with governance, process excellence and integrated service delivery
- iGate Q3 net up marginally; revenue down 55%
The company added six new customers in the quarter. Its employee base in Q3 fell slightly to 6,380 employees as of September 30
- Mahindra Satyam secures Rs 38 cr order
The company is also strengthening its resources to leverage the growing demand wihthin the government, banking, telecon and real estate sectors
- Indian cities still hot for outsourcing
But countries like Canada, Poland, Vietnam are honing their skills
- Indian IT firms lift lid on hiring
Headhunters confirm that many of the IT companies have given them mandates for hiring over the next couple of quarters
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Punjab protests 1984 anti-Sikh riots, shuts down
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