Let’s count the events of the day

 

1. Just Dial to raise up to $174 million through IPO

Just Dial said on Monday it will raise up to Rs. 950 crore through an initial public offer, which is scheduled to be launched on May 20.

The Mumbai-based local search firm, which is backed by Sequoia Capital and Tiger Globe, will sell 17.5 million shares priced between Rs. 470 and Rs. 543 each, it said in a statement.

2. Dabur India set to expand portfolio in Middle East region

DUBAI: Indian major Dabur is set to broaden its current product portfolio in the Middle East region, looking to expand geographically and increase its penetration across various ethnic groups, a media report has said.

Dabur is focusing on its Middle East operations this year, with a strategic launch of a new face care range, natural hair colour creme and an innovative deodorant range for teenagers, the Khaleej Times report said.

Source: http://economictimes.indiatimes.com/news/news-by-industry/cons-products/fmcg/dabur-india-set-to-expand-portfolio-in-middle-east-region/articleshow/20027515.cms

3. JLR opens new engineering test centre in Dubai

NEW DELHI: Tata Motors-owned Jaguar Land Rover today said it has opened a new engineering test centre in Dubai to conduct extreme hot weather vehicle research, development and testing.

Source: http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/jlr-opens-new-engineering-test-centre-in-dubai/articleshow/20026289.cms

4. Maruti Gypsy to be phased-out from Army, Mahindra Scorpio & Tata Safari in race to fill gap

The Indian Army has decided to phase-out Maruti Gypsy from its inventory with Mahindra Scorpio and Tata Safari in the race to replace the vehicle under a project expected to cost the force more than Rs 3,000 crore.

The Indian Army is the biggest customer of the Maruti Gypsy utility vehicles with more than 25,000 such vehicles in service and uses them in all light vehicle operations including counter-terrorist and counter-insurgency operations.

http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/maruti-gypsy-to-be-phased-out-from-army-mahindra-scorpio-tata-safari-in-race-to-fill-gap/articleshow/19990741.cms

Worth reading: http://www.reuters.com/article/2013/05/12/net-us-google-social-idUSBRE94B04W20130512

Let’s count the events of the day

 

Alibaba Seen Avoiding Facebook Flop With IPO Below $100 Billion

(Jack Ma, Founder, Alibaba)

Alibaba Group Holding Ltd. doesn’t want to be the next Facebook Inc. -- at least for its prospective initial public offering. The world’s biggest online retailer is considering a more conservative valuation than what the social-networking company achieved last year, a person familiar with the situation said.

Ma, the executive chairman, said last year the company may go public within five years. Jonathan Lu will replace Ma as chief executive officer in May. It’s not known how much of the company might be listed.

Source: - http://www.bloomberg.com/news/2013-05-05/alibaba-seen-avoiding-facebook-flop-with-ipo-below-100-billion.html 

'Iron Man 3' has second best box office debut in history

Super-hero blockbuster sequel "Iron Man 3" smashed to the top at the US box office with a mega $175.3 million take -- the second best opening weekend ever -- industry estimates showed Sunday.

Source: AFP

Nano's downhill drive continues, just 948 units sold in April

Amid a slowdown of automobile market in India, Nano sales declined over 88 per cent during the month compared to 8,028 units sold in April last year, according to the information provided by Tata MotorsBSE 1.95 % to the BSE.

Source: http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/nanos-downhill-drive-continues-just-948-units-sold-in-april/articleshow/19892833.cms

Meanwhile, Apache has crossed the one million mark. TVS, The Chennai-based company, launched the motorcycle equipped with a new Race-To-Response engine in 2006. Currently, it is being exported to more than 20 countries.

The Reserve Bank has allowed Tata Communications Payment Solutions, a subsidiary of Tata Communications, to set up and operate White Lable ATMs in the country.

White label ATMs – ATMs set up by parties other than banks.

 

Malabar Gold to open 220 stores across the globe by 2015

Kerala-based jewellery retailer Malabar Gold plans to open 220 stores across the globe by 2015 including South Asia and far East countries, a company official said today.

Jhunjhunwala buys 25 lakh SpiceJet shares, stock zooms

Shares of low-cost carrier SpiceJet today soared on bourses after big bull Rakesh Jhunjhunwala’s wife Rekha bought 25 lakh shares of the company on Friday.

Source: http://www.firstpost.com/investing/jhunjhunwala-buys-25-lakh-spicejet-shares-stock-zooms-754419.html

Infiniti Retail to launch ‘Croma’ 3G tablets in 2 weeks

Tata group firm Infiniti Retail, which runs ‘Croma’ chain of consumer electronics and durables stores, is planning to expand its range of private label items by introducing 3G-enabled tablet within next two weeks and high-end refrigerators by Diwali this year.

The company has already started offering affordable range of Croma-branded smartphones, which are sourced from China.

Source: http://www.firstpost.com/tech/infiniti-retail-to-launch-croma-3g-tablets-in-2-weeks-754161.html

Jet sells 24% to Etihad for Rs2,060 cr

The Naresh Goyal-promoted Jet Airways on Wednesday became the first Indian airline to sell a stake to a foreign carrier since last year’s relaxation in foreign direct investment rules. The company’s board approved a decision to allot 2.73 crore shares on a preferential basis to Abu Dhabi’s Etihad Airways for around R2,060 crore ($379 million). It was in September 2012 that the government allowed foreign carriers to buy up to 49% in Indian airlines.

Earlier, a proposal to start a new airline by Malaysia’s AirAsia and the Tata Group was cleared by the Foreign Investment Promotion Board.

The deal values Jet at nearly R8,500 crore, which is nearly double its market capitalisation of R4,954 crore as per Tuesday’s closing price. After the allotment, Etihad will hold a 24% stake in Jet while promoters will continue to hold 60.80% stake. Shares will be allotted at R754.73 each, a 31% premium to Tuesday’s closing price of R573.85 on the BSE.

Source: http://www.financialexpress.com/news/jet-sells-24-to-etihad-for-rs2060-cr/1107099

Bharti Gets $1.26 Billion Investment From Qatar Foundation

Bharti Airtel Ltd. (BHARTI), India’s largest mobile-phone operator, will sell a 5 percent stake to the Qatar Foundation Endowment for $1.26 billion after the carrier posted quarterly profit that missed estimates.

Bharti will issue 199.9 million new shares to the Qatar endowment at 340 rupees ($6.3) each, according to an e-mailed statement from the New Delhi-based company. That’s 7.3 percent higher than yesterday’s closing price. The stock closed 0.3 percent higher after climbing as much as 4.7 percent in Mumbai.

Source: Bloomberg

Intel CEO-Designate Krzanich Plans Faster Shift to Mobile

http://www.bloomberg.com/news/2013-05-03/intel-ceo-designate-krzanich-plans-faster-shift-to-mobile-chips.html

Tata Housing announces first housing project for senior citizens, called Riva.

Worth Reading:

http://economictimes.indiatimes.com/news/news-by-industry/cons-products/fmcg/pg-takes-away-some-work-from-india-to-cut-down-on-outsourced-it-work/articleshow/19903428.cms

http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/techno-classica-the-biggest-car-show-you-might-never-have-heard-of/articleshow/19893944.cms

http://economictimes.indiatimes.com/features/corporate-dossier/billion-dollar-team-how-micromax-is-gearing-up-to-touch-1-bn-mark/articleshow/19850080.cms

Let’s count the events of the day

 

1. Uninor appoints Yogesh Malik and the new CEO

 

“Norwegian telecom major Telenor's Indian arm Uninor today announced the appointment of Yogesh Malik as the firm's Chief Executive Officer (CEO).

The company added that Managing Director Sigve Brekke will step down as MD, but will continue to be responsible for all of Telenor affairs in India as the Head of Telenor Group's Asian operations.”

Source: http://economictimes.indiatimes.com/news/news-by-company/corporate-announcement/uninor-appoints-yogesh-malik-as-ceo-brekke-steps-down-as-md/articleshow/19830529.cms

 

2. Mercedes Benz to introduce five new models in India.

The company is all set to launch a diesel version of its B-Class , the new A-Class as well as the GL-Class over the next one month with the compact SUV GLA and 4-door coupe.

 

3. Honda Car India asked to pay a excise duty of 164 crores

The Central Boad of Excise and Customs has claimed that Honda Car India ought to have paid excise duty on the actual cost of production of the car and not on the discounted price.

These discounts were offered on Honda Brio and Honda Jazz.

http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/hondas-discount-offers-on-brio-jazz-under-cbec-scanner-asked-to-pay-rs-164-crore-more-as-excise-duty/articleshow/19793621.cms

 

4. Apple to Samsung Develop Smartwatch as Sony’s Time Passes

With growth slowing in the $358 billion handset market, Apple Inc. (AAPL) and Samsung Electronics Co. (005930) are developing digital watches that allow users to make calls, check map coordinates, or monitor their physical activity.
They might want to talk to Tokyo-based Sony Corp. (6758), whose feature-laden SmartWatch, on sale for more than a year, isn’t mesmerizing the masses.

Source: http://www.bloomberg.com/news/2013-05-02/apple-to-samsung-develop-smartwatch-as-sony-s-time-passes-tech.html

 

 

 

In other news:

Bankrupt investment bank Lehman Brothers has sued Intel Corp, accusing the chip maker of seizing $1 billion in collateral in breach of a swap agreement, a court filing showed.

 

Restaurants step up deals & discounts as footfalls drop after rise in menu rates

http://economictimes.indiatimes.com/news/news-by-industry/services/hotels-/-restaurants/restaurants-step-up-deals-discounts-as-footfalls-drop-after-rise-in-menu-rates/articleshow/19825478.cms

Consumer is the king: Supreme Court clears hurdles for FDI in retail

http://economictimes.indiatimes.com/news/news-by-industry/services/retail/consumer-is-the-king-supreme-court-clears-hurdles-for-fdi-in-retail/articleshow/19821412.cms

Asian Development Bank’s advisory for delegates visiting Indian for the annual meeting:

http://www.thehindubusinessline.com/news/adb-issues-dress-code-for-women-delegates/article4676117.ece

http://www.bloomberg.com/news/2013-05-02/unilever-wagers-billions-on-india-economic-revival.html

Let's count the events of the day

1. Mahindra Said To Consider Bidding For Hawker Beechcraft

Mahindra & Mahindra Ltd. (MM), India’s biggest maker of utility vehicles, is considering bidding for Hawker Beechcraft Inc., the bankrupt aircraft maker part owned by Goldman Sachs Group Inc. (GS), a person with knowledge of the matter said.

Hawker would fit well with Mahindra because both produce turboprop aircraft, said the person, who asked not to be identified because the deliberations are private. The Mumbai- based company has not decided whether to make an offer, the person said. Roma Balwani, a spokeswoman for Mahindra, said the company doesn’t comment on speculation.

Mahindra, which purchased majority stakes in component maker Aerostaff Australia and turboprop aircraft manufacturer Gippsland Aeronautics in 2009, has been in talks with India’s National Aerospace Laboratories on possibly partnering for a regional jet. A successful bid for the business jet-maker will catapult Mahindra into the aerospace market as a manufacturer, according to Dhiraj Mathur of PricewaterhouseCoopers LLP.

2. Apple Said To Plan Smaller IPad To Vie With Google Nexus

Apple Inc. (AAPL) plans to debut a smaller, cheaper iPad by year-end, two people with knowledge of the plans said, to help maintain dominance of the tablet market as Google Inc. (GOOG) and Microsoft Corp. (MSFT) prepare competing handheld devices.
The new model will have a screen that’s 7 inches to 8 inches diagonally, less than the current 9.7-inch version, said the people, who asked not to be identified because Apple hasn’t made its plans public. The product, which Apple may announce by October, won’t have the high-definition screen featured on the iPad that was released in March, one of the people said.

3. Coke’s $3bn to add fizz to India presence

Coca-Cola is escalating the beverage wars in India, announcing a $3bn investment intended to help it overtake PepsiCo in one of the few countries where it trails its rival.

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/25172634-bfad-11e1-8bf2-00144feabdc0.html#ixzz1zirgCzwt

The move marks the acceleration of Coke’s commitment to India, superseding last year’s plan to invest $2bn over five years. That is as much as Coke invested in the country between 1993 and 2011.

Source: http://www.ft.com/intl/cms/s/0/25172634-bfad-11e1-8bf2-00144feabdc0.html

4. Former CEO Bob Diamond admits 'mistakes' at Barclays, says fast action taken

Former Barclays chief executive Bob Diamond criticised "reprehensible" behaviour over a rate-fixing scandal in a tense appearance before British lawmakers Wednesday, the day after he quit the bank.

Diamond added that while there had been "mistakes" at the lender, swift action was taken to tackle traders' attempts to manipulate key inter-bank lending rates.

"Clearly there were mistakes, clearly there was behaviour that was reprehensible," Diamond told the British parliament's Treasury Select Committee.

Barclays chief operating officer Jerry del Missier also resigned Tuesday over the affair, while the bank's chairman Marcus Agius quit on Monday.

Last week, the bank was fined £290 million ($455 million, 360 million euros) by British and US regulators for the attempted rigging of the Libor and Euribor interest rates.

Libor (London Interbank Offer Rate) is a flagship London instrument used as an interest benchmark throughout the world, while Euribor is the eurozone equivalent.

The rates play a key role in global markets, affecting what banks, businesses and individuals pay to borrow money.

Let's count the events of the day

1. Apple Pays $60 Million To End China IPad Dispute With Proview

Apple Inc. (AAPL) paid $60 million to settle a two-year-old legal dispute with Proview International Holdings Ltd. (334) regarding the iPad trademark in China.

The terms of the settlement agreement were reached on June 25 and Apple has transferred the funds as agreed, the Higher People’s Court of Guangdong Province announced in a statement on its website today. Apple spokeswoman Carolyn Wu didn’t immediately return calls to her office and mobile phones.

The dispute had centered on whether Proview’s Taiwan unit, which Apple paid 35,000 pounds ($54,800) in 2009 to use the iPad name in mainland China, had the right to sell it or whether that rested with Proview’s Shenzhen unit, which held the mark. Apple sued Proview Shenzhen in 2010 claiming ownership of the iPad trademark in China and lost. Its appeal of that case was heard on Feb. 29, and the two sides had engaged in court-sponsored mediation since then.

Before the agreement, Proview had applied to Chinese customs to block shipments of Apple’s iPad tablets in and out of China, and asked local retailers to stop sales of the product.

http://www.bloomberg.com/news/2012-07-02/apple-pays-60-million-to-end-china-ipad-dispute-with-proview.html

2. Billionaire Rinehart Willing To Buy Back GVK Shares

http://resources0.news.com.au/images/2012/02/02/1226261/318196-120203-gina-rinehart.jpg

Australian billionaire Gina Rinehart, who sold a majority stake in her Hancock Prospecting Pty’s coal projects to India’s GVK Group last year, said she is happy to buy back shares in the venture if it needs funds.
“I have told GVK I would love to be in the project more,” Rinehart told reporters on a visit to the southern city of Hyderabad, where she meet officials of the group.

Foreign investors and banks have expressed an interest in the coal project, in which GVK owns a 79 percent stake and Hancock has 21 percent, said Rinehart, who is Asia’s richest woman. Her fortune is estimated at $18.4 billion by the Bloomberg Billionaires Index.

Foreign investors and banks have expressed an interest in the coal project, in which GVK owns a 79 percent stake and Hancock has 21 percent, said Rinehart, who is Asia’s richest woman. Her fortune is estimated at $18.4 billion by the Bloomberg Billionaires Index.

http://www.bloomberg.com/news/2012-07-01/billionaire-rinehart-says-she-s-willing-to-buy-back-gvk-shares.html

Background:

GVK, a Hyderabad  based company want to mine coal in Queensland's Galilee Basin, environement activists like Greenpeace say that it will destroy the local biodeiversity. Gina Rinehart a billionaire who made her riches in mining has a small stake in the mine.

3. AB InBev buys out Modelo for $20 bn

Brussels, London: Anheuser-Busch InBev, the world’s biggest brewer, will swallow the half of Grupo Modelo it does not already own for $20.1 billion in the latest in a string of deals by big brewers looking for growth in emerging markets.

Modelo, founded in 1925, is Mexico’s biggest brewer with a 50%-plus market share in a virtual duopoly with Heineken’s FEMSA Cerveza in the world’s fourth-most-profitable beer market. Corona is the biggest imported beer in the lucrative US market.

4. Nestle in talks to raise E7-billion acquisition loan

Nestle has been talking to banks about raising a new 7-billion-euro syndicated loan to help fund its $11.85-billion takeover of Pfizer Nutrition. Nestle said in late April the acquisition would be fully debt-financed through internal cash resources, existing facilities and the bond markets. The new loan would give Nestle enough liquidity until the deal is approved, which is expected to be in the first quarter of 2013, if the acquisition goes ahead.

http://www.financialexpress.com/news/ab-inbev-buys-out-modelo-for-20-bn/968510/0

Let's count the events of the day

1. Rice Harvest In India Seen At Record As State Prices Increased


The monsoon-sown harvest may gain 10 percent in the year beginning July 1 from 90.8 million metric tons a year earlier, said Tarsem Saini, president of the Federation of All India Rice Millers Association. An end to a three-year ban on exports last year and a forecast for normal rain will spur farmers to increase planting, he said. The monsoon crop, sown from this month, accounts for about 80 percent of annual output.

http://www.bloomberg.com/news/2012-06-26/rice-harvest-in-india-seen-at-record-as-state-prices-increased.html

2. Morgan Stanley Downgrades RIM On ‘Deteriorating’ Outlook


Research In Motion Ltd. (RIM), the struggling maker of the BlackBerry smartphone, fell the most since May after Morgan Stanley (MS) downgraded the stock, citing “rapidly deteriorating fundamentals.”


“The only way RIM remains a viable entity is at a fraction of its current size, a transformation that erases much of its earnings power,” Ehud Gelblum, an analyst at Morgan Stanley in New York, wrote in a note to investors today. He cut RIM’s recommendation to underweight, a negative rating, from equalweight, the equivalent of a hold.


3. Nissan India Partner Thinks Small To Close Tata Gap

Ashok Leyland Ltd. (AL), India’s second- biggest truckmaker, is adding small goods carriers and expanding overseas to claw back market share lost to Eicher Motors Ltd. (EIM) and Tata Motors Ltd. (TTMT)
Nissan Motor Co. (7201)’s Indian partner, which reported its smallest gain in sales in three years in the 12 months ended March 31, plans to add 25 models in the year that began April 1, Vinod Dasari, the company’s managing director said in an e- mailed response to questions. The company last year began selling the small carrier Dost, which means friend in Hindi.

Daimler, Navistar:


Daimler, the world’s biggest truckmaker, this year opened a factory to build carriers ranging from six tons to 49 tons in India. Daimler will unveil 17 models by 2014, and the factory will be able to initially produce 36,000 trucks a year, Daimler said in April.

Mahindra partnered Navistar International Corp. (NAV) in 2005 to build trucks, while Volvo AB, the world’s No. 2 truck maker, invested $275 million in a venture with Eicher to make vehicles in India in 2008.

http://www.bloomberg.com/news/2012-06-25/nissan-india-partner-thinks-small-to-close-tata-gap.html

Worth Reading:


That’s Bhendi Bazar in 2014http://www.mumbaimirror.com/index.aspx?page=article&sectid=15&contentid=200908282009082804230495389a185fa

Let's count the events of the day!

1. Starbucks To Open Tazo Tea Store

Starbucks Corp. (SBUX), the world’s largest coffee-shop operator, will open its first tea-only store in October under the Tazo brand.

The shop will sell more than 80 varieties of loose-leaf tea, which will be priced by the ounce, said Holly Hart, a spokeswoman for Seattle-based Starbucks. While there are no immediate plans to open more stores, the company may consider additional Tazo shops “if we see another opportunity where a location is the right fit,” Hart said.

www.bloomberg.com/news/2012-06-20/starbucks-to-open-tazo-tea-store.html

2. Cable TV digitisation put off by four months till October 31 

The much-trumpeted digitalisation of cable TV services in four metros will now have to wait for four months beyond July 1, when it was originally scheduled to be introduced.
The decision to defer the plan for switchover from analogue to digitised signals was announced by the government on Wednesday as it was found that the metros of Delhi, Mumbai, Chennai and Kolkata were not ready for it.
"The ministry of information and broadcasting has decided to modify the 30th June deadline for a complete switch over to 31st October 2012," a statement issued by the I&B ministry on Wednesday said.

http://ibnlive.in.com/news/cable-tv-digitisation-put-off-by-four-months/267098-3.html

3. RBI gives nod for white label ATMs

The Reserve Bank of India has decided to permit non-bank entities to set up, own and operate automated teller machines (ATMs).
Such non-bank entities should have a minimum net worth of Rs 100 crore as per the latest financial year’s audited balance sheet, which is to be maintained at all times.

Non-bank entities that intend setting up, owning and operating ‘White Label ATMs’ (WLAs) would service customers of banks in India, based on the cards (debit/ credit/prepaid) issued by banks, the RBI said.

http://www.financialexpress.com/news/rbi-gives-nod-for-white-label-atms/964687/

4. Odisha starts transferring 1,500 acres to Posco

After seven years of delay, the Posco steel project will start rolling soon as Odisha has started transferring around 1,500 acres to the Korean steel major to set up an 8-million tonne plant in the first phase, Odisha Steel and Mines Minister Raghunath Mohanty said today.

http://www.financialexpress.com/news/odisha-starts-transferring-1-500-acres-to-posco/964498/

5. Kristen Stewart Tops Our List Of The Highest-Paid Actresses - Forbes

for the last two Twilight films, Stewart has been able to demand an estimated $12.5 million per film, plus a share of the profits.Her two co-stars, Robert Pattinson and Taylor Lautner, get paid the same, but Stewart earned more than them this year because of Snow White and the Huntsman. Stewart’s earnings between May 2011 and May 2012 totaled $34.5 million, helping her rank 43rd on our Celebrity 100 list. (The list measures a combination of money and fame.)

http://www.forbes.com/sites/dorothypomerantz/2012/06/19/kristen-stewart-tops-our-list-of-highest-paid-actresses/



That's all for today folks!


p.s. Did I miss something important? Inform me using the comment section Beellloooww or on Facebook, Twitter or Google Plus.

Let's count the events of the day

1. Fiat, Tata Motors, Maruti may shut down plants temporarily

With vehicle sales continuing to dwindle due to high interest rates and petrol prices, many automobile manufacturers in India are planning to shut down their plants temporarily to reduce inventories.

While Fiat India is considering shutting down plant for a few days next month, Tata Motors will stop production of commercial vehicles at Pune for three days this week.

http://www.hindustantimes.com/News-Feed/Auto/Fiat-Tata-Motors-Maruti-may-shut-down-plants-temporarily/Article1-875094.aspx

2. Pakistan’s Gilani Disqualified As Premier After Ruling

Pakistan’s political strains escalated after the Supreme Court disqualified Prime Minister Yousuf Raza Gilani from the job because of a contempt conviction.

Gilani, censured by the court over failure to pursue corruption charges against President Asif Ali Zardari, was disqualified retroactive to April 26, 2012, according to an e- mailed statement from the Election Commission of Pakistan yesterday. Gilani’s party will respond after speaking with its coalition partners, Jehangir Badar, its secretary general, said at a news conference in Islamabad yesterday.

http://www.bloomberg.com/news/2012-06-19/pakistan-s-top-court-rules-gilani-ineligible-to-be-premier-1-.html

3. Wikileaks Founder Turns To Chavez Ally Ecuador For Asylum

Julian Assange sought asylum in Ecuador’s Embassy in London yesterday to avoid what he says are U.S. efforts to punish him for releasing diplomatic secrets through his Wikileaks website.

Ecuador is studying the request and is in contact with the U.K. government, the Andean country’s Foreign Minister Ricardo Patino told reporters in a brief statement in Quito. Assange entered the embassy in the Knightsbridge area of London after exhausting options in U.K. courts to avert extradition to Sweden, where he faces two counts of rape.

The move threatens to widen the breach between Ecuador, a member of the Venezuelan-led group of nations known as ALBA, and the U.S., just as Ecuador seeks renewal of trade benefits due to expire next year. The Andean country may grant Assange asylum to spite the U.S., prioritizing political gains over strategic interests, said Christopher Sabatini, senior policy director of the Council of the Americas.

http://www.bloomberg.com/news/2012-06-20/wikileaks-founder-turns-to-chavez-ally-ecuador-for-asylum.html

4. Renault to begin taking orders for Duster by June end

Duster, the heavily anticipated Sports Utility Vehicle (SUV) from Renault, is all set to be launched in the Indian auto market in June 2012 and the French car maker is gearing up to commence bookings a month in advance. The model, considered as the perfect blend of space, ruggedness and stability, is expected to kick-off a new scenario of competitive pricing in the SUV segment of the Indian auto industry. After the failure of its earlier premium offerings, including Fluence, Koleos and Pulse, Renault is readying itself to try its luck in India with the launch of its big and efficient SUV, Duster.

http://www.cartrade.com/car-bike-news/renault-to-begin-taking-orders-for-duster-by-june-end-117517.html

5. Lava launches XOLO X900

Lava mobile has launched the first intel powered android smart phone, which retails at 22,000.

6. Anushka Sharma appointed brand ambassador for TVS Scooty range

TVS Motor Company has signed on Bollywood actor Anushka Sharma as brand ambassador for its TVS Scooty range. Sharma will be the face of all brand campaigns related to the range.

H S Goindi, president, marketing, TVS Motor Company, said, “Anushka Sharma was an immediate choice for the TVS Scooty brand. She is well known for being spunky with her distinctive style and is an icon for young girls in India. She is seen by young women as one who is living her goals of being vivacious, independent and successful. We are confident that this association will further enhance the popular TVS Scooty Brand. ”

Sharma had previously worked in a TVS Scooty campaign in 2005.

http://www.campaignindia.in/Article/304516,anushka-sharma-appointed-brand-ambassador-for-tvs-scooty-range.aspx

Let's Count The Events Of The Day

1. Microsoft Unveils Tablet Computer Called Surface, Taking On IPad

                                                                                        (courtsey: Bloomberg)




Microsoft Corp. (MSFT) unveiled its own Windows-powered tablet computer called Surface, altering its strategy of focusing on software and relying on partners to make the machines in a renewed attempt to take on Apple Inc. (AAPL)’s iPad.
The tablet has a 10.6-inch display and will run the new version of Microsoft’s operating system, Chief Executive Officer Steve Ballmer said at an event yesterday at Milk Studios in Los Angeles. The device’s cover serves as a full keyboard with a track pad. Surface will be available later this year.

The company wants to release Windows 8, the new version of its software that is optimized for touch-screen tablets, in time for the end-of-year holidays and will have a version for x86 chips from Intel Corp. and for ones based on ARM Holdings Plc’s technology, which is also used in the iPad. The Surface tablet will be available in versions running both chip designs.

http://www.bloomberg.com/news/2012-06-19/microsoft-unveils-surface-tablet-computer-taking-on-ipad-1-.html


2. Emami restrained from broadcasting 'Navratna oil' advt

The Delhi High Court on Monday restrained Emami Limited a health and personal care product company from broadcasting an advertisement for its Navratna Oil brand on a plea filed by GK Burman Herbal (India) Private Limited. The latter had alleged that the TV commercial ‘degrades and disparages’ a similar product manufactured by the company.

The interim order of the High Court came on plea filed by leading Ayurvedic Oil Manufacturer, Burman Herbal, seeking a permanent injunction on circulation, or distribution of the advertisement which allegedly defamed and maligned its product, Himgange Ayurvedic Oil.

In its plea, Burman Herbal India (pvt) Ltd said, "The defendant (Emami) has knowingly and fraudulently issued the said advertisement to harm the immense goodwill and reputation which the plaintiff has earned in the last 25 years of the existence of its said product with the sole motive of driving out healthy competition from the market and to make illegal and unlawful gains."

http://www.lawetalnews.com/article/631/Emami-restrained-from-broadcasting-Navratna-oil-advt.htm

3. CCD founder acquires additional 3.84% stake in MindTree

 

CCD founder VG Shiddhartha has acquired additional 3.84% stake in MindTree . He raised his stake to 21.63% in the company, reports CNBC-TV18.



4. India Unexpectedly Holds Rate As Inflation Curbs Easing: Economy

India unexpectedly left interest rates unchanged as the fastest inflation among the biggest emerging markets narrows scope to bolster an economy struggling with trade and budget deficits and Europe’s debt turmoil.

Governor Duvvuri Subbarao left the benchmark repurchase rate at 8 percent, the Reserve Bank of India said in a statement in Mumbai today. Only four of 25 economists in a Bloomberg News survey predicted the outcome, with 19 expecting a 0.25 percentage-point cut and the remainder a half-point reduction.

Hours after the decision, Fitch Ratings cut India’s sovereign credit outlook to negative, joining Standard & Poor’s in signaling the country is at risk of losing its investment grade rating on concern growth will deteriorate. Subbarao’s room to counter the weakest Indian economic expansion in almost a decade is being limited in part by a plunge in the rupee, which has stoked an inflation rate already above 7 percent.

http://www.bloomberg.com/news/2012-06-18/india-unexpectedly-holds-rate-as-surging-prices-curb-cut-scope.html

5. Facebook Buys Face.com

Facebook has acquired Face.com, the facial recognition software company whose products power Facebook's photo tagging suggestions, according to a blog post.

Rumors of the acquisition began to circulate in late May.

Face.com also provides branded Facebook apps. Photo Tagger is very similar to the native Facebook app, while Photo Finder, the company's first app, helps users find untagged photos of themselves. Face.com offers an API (application programming interface) that powers third-party apps including CelebrityFindr, which allows users to search for photos of celebrities on Twitter using facial recognition technology.

http://www.cio.in/news/facebook-buys-facecom-272932012#

LCTEOTD

 

1. Jubilant FoodWorks opens Dunkin' Donuts first store in India

Jubilant FoodWorks, the Indian distributor of Domino's Pizza, on Tuesday opened American doughnut brand Dunkin' Donuts first store in India, and plans to invest around Rs 12 crore to roll out 10 stores this fiscal."There will be a mix of flagship stores, stores in malls and kiosks," said Jubilant FoodWorks Limited (JFL) CEO Ajay Kaul during the opening of first store at Connaught Place in New Delhi, adding that the restaurants would be branded as 'Dunkin' Donuts & More' in the country.Dunkin' Donuts will compete in India with companies such as Cafe Coffee Day, run by Amalgamated Bean Coffee Trading Co., Lavazza SpA's Barista Coffee Co., and Starbucks Corp., which plans to open its first India store in August through its partnership with Tata Global Beverages.

http://timesofindia.indiatimes.com/business/india-business/Jubilant-FoodWorks-opens-Dunkin-Donuts-first-store-in-India/articleshow/13061819.cms

2. India to Dethrone Thailand, Vietnam as Top Rice Exporter

India, the largest rice grower after China, is poised to rival Vietnam as the world’s biggest shipper, ending Thailand’s 30-year reign, after favorable weather and higher government prices boosted the harvest to a record.Exports may climb to 7 million metric tons in the year ending Aug. 31, said Samarendu Mohanty, a senior economist at the International Rice Research Institute. That’s more than double the 2.8 million tons shipped in 2010-2011, according to the U.S. Department of Agriculture. Vietnam will export 7 million tons and Thailand 6.5 million tons, USDA data show.Rice, the staple for half the world, has slumped 17 percent since reaching the highest price since 2008 in September after India ended a three-year ban on exports of non-basmati varieties. Prices will probably stay under pressure in coming months as global production outpaces demand for an eighth year. That may extend a decline in global food costs, which fell for the first time this year in April, United Nations data show. Thailand was the top shipper last year with 10.6 million tons.

http://www.bloomberg.com/news/2012-05-09/india-set-to-pass-thailand-rival-vietnam-as-top-rice-exporter.html

3. Kishore Chhabria's whiskey brand Officers Choice now No. 1

Kishore Chhabria, a teetotaler, is on a high, virtually. "We've a long way to go in the spirits business. We want to improve our bottom line," says Chhabria, who's sparred in the past with his own brother, the late Manohar Chhabria, and his partner- turned rival Vijay Mallya, and survived.Officers Choice, the whiskey brand he helped create from scratch, has broken the seven-year-old reign of Vijay Mallya's Bagpiper Whiskey, to become the largest selling Indian spirits brand. Global drinks analysts now rank the brand the world's No. 1 by volume. Allied Blenders & Distillers ( ABD), the fledgling spirits company owned by Chhabria, is now changing strategy as it tries to reduce dependence on a single brand - Officers Choice.

On the anvil are a line of new spirit brands, which will reduce dependence on Officer's Choice. Lord & Master Brandy, Jolly Roger Rum and Officer's Choice Blue, a semi premium whisky, will be the new engines to grow the 1,600-crore liquor firm. This year, Officer's Choice Blue will exceed one million cases and the thrust in the coming months will be to grow new brands.

http://economictimes.indiatimes.com/news/news-by-industry/cons-products/liquor/kishore-chhabrias-whiskey-brand-officers-choice-now-no-1/articleshow/13002224.cms

Let’s count the events of the day

 

 

1. Hutchison Whampoa Said to Bid EU2 Billion for Eircom

Billionaire Li Ka-shing’s Hutchison Whampoa Ltd. (13) made a bid of about 2 billion euros ($2.6 billion) for Eircom Group, the Irish phone company in supervised credit protection, people with knowledge of the matter said.

2. Manchester City Signs Deal With Nike as Team Uniform Supplier

Manchester City, owned by a billionaire member of the Abu Dhabi royal family, signed a six-year agreement with Nike Inc. to have the world’s largest sporting-goods maker supply the soccer team’s uniforms.

 

3. ‘The Scream’ Sells for Record $120 Million at Sotheby’s

Sotheby’s (BID) managed a record price and sale tally at last night’s auction in New York, even as 15 lots went unsold.

The star was one of Edvard Munch’s four versions of “The Scream,” which set a record for a work of art at auction when it sold for $119.9 million.

“The Scream” smashed the previous record of $106.5 million, established in May 2010 by Pablo Picasso’s “Nude, Green Leaves and Bust.” The price for the Munch, which includes Sotheby’s $12.9 million commission, exceeds Christie’s entire Impressionist and modern art sale the night before.

4. Samsung Galaxy S3 to hit Indian markets soon

The much-awaited Samsung Galaxy S-III smartphone, which was unvieled here last evening, is expected to hit the Indian markets soon.
The Galaxy S-III model would be available in the European market towards the end of the current month and subsequently in the other parts of the globe from June onwards, Samsung Electronics President and Head of IT & Mobile Communications Division J K Shin said.

5. Govt plans to set up fund for buying overseas coal assets

NEW DELHI: Coal Minister Sriprakash Jaiswal today said the government is planning to set up a fund for acquiring of coal assets abroad and urged public sector companies to be proactive in making decisions on foreign investments.
The fund would be similar to a sovereign wealth fund. The Minister's comments come against the backdrop of severe coal shortage hurting power, steel and other sectors.
Jaiswal said even though Coal India Ltd (CIL) has surplus resources for investing outside, it is important to have financial support from the government for acquiring large assets abroad.

Let’s count the events of the day

 

1. Facebook Agrees to Buy Instagram Photo App for $1 Billion

Facebook Inc. (FB), the biggest social- networking service, is buying the Instagram mobile photo-sharing application for about $1 billion in cash and stock, using its biggest acquisition yet to lure users of mobile devices.Instagram, owned by San Francisco-based Burbn Inc., was valued at $500 million after raising about $60 million last week from investors including Sequoia Capital, said people with knowledge of the funding who asked not to be identified because the matter is private. The acquisition is expected to close this quarter, Menlo Park, California-based Facebook said today.

Instagram lets users take pictures with smartphones, retouch them with borders and filters, and then post the images on social networks. Founded in 2010, it has become the most popular free photo-sharing application on Apple Inc. (AAPL)’s App Store and boasts more than 30 million users. Owning it may help Facebook attract handset users and advertisers who target them, said Rebecca Lieb, an analyst at Altimeter Group LLC.

http://www.bloomberg.com/news/2012-04-09/facebook-agrees-to-buy-instagram-photo-service-for-1-billion.html

 

2. Sahara Group in talks to buy 'The Plaza' in New York for Rs 3,000 crore

Little over a year after he snapped up London's iconic Grosvenor House hotel, Subroto Roy is about to do a similar deal across the Atlantic. The Sahara Group is in exclusive talks to acquire The Plaza, a 105-year-old landmark property in New York whose guests have included Marilyn Monroe and the Beatles, for around $600 million (Rs 3,000 crore).

http://articles.economictimes.indiatimes.com/2012-04-06/news/31300279_1_grosvenor-house-hotel-sahara-group-subroto-roy

3. Loop Telecom to Shut Shop Outside Mumbai

Privately-held Loop Telecom Pvt. Ltd. Tuesday said it will shut shop across all of India except for Mumbai, which accounts for 3.25 million of the company's 3.26 million subscribers in the country.It added that it has asked the government for a refund of about 33.0 billion rupees ($645 million) as well as unspecified damages from the government, after the Supreme Court ordered the cancellation of 21 of Loop's 22 licenses in a wider corruption case involving allotment of bandwidth and permits in 2008.Loop Telecom will continue to operate in Mumbai as that license was given before 2008, a company spokesman said.

 

 

 

Worth Reading:

 

http://www.bloomberg.com/news/2012-04-09/billionaires-unmasked-as-coty-persists-in-pursuit-of-avon.html

http://timesofindia.indiatimes.com/tech/enterprise-it/strategy/Instagram-7-things-to-know/articleshow/12608854.cms

Let’s count the events of the day

 

1. Emami to revive over-the-counter products like Zandu Pancharishta, Nityam Churna

Consumer products maker Emami is reviving its over-the-counter healthcare business with a slew of brand relaunches along with new distribution system, packaging and marketing blitz."The focus on the OTC portfolio is part of a consolidation exercise we have undertaken to increase sales from existing brands, instead of randomly entering into newer categories," Emami Ltd CEO (Sales, Supply Chain and Human Capital) Krishna Mohan said.The brands being relaunched include digestive tonic Zandu Pancharishta, blood and skin purifier Zandu Lalima, laxative Nityam Churna, cough tonic Sardi Ja and even popular pain reliever Zandu Balm-some of its own and some acquired from Zandu’.

http://economictimes.indiatimes.com/news/news-by-industry/cons-products/fmcg/emami-to-revive-over-the-counter-products-like-zandu-pancharishta-nityam-churna/articleshow/12589273.cms

 

2. Accor bets big on India, plans 75 hotels in 3 years

 

When he came visiting India last year, Denis Hannequin, the chairman and chief executive of Paris-based hotel group Accor, wasn't impressed with his company's performance in India. "Just eight hotels in a decade... I was not happy with the development of the Accor brand in India," he says.Last week, Hannequin, a former McDonald's chief executive, returned to India with an aggressive plan that will help Accor add around 75 hotels in the country in three years, taking the number of properties from the current 15 to 90, and making India one of its key markets.

http://economictimes.indiatimes.com/news/news-by-industry/services/hotels-/-restaurants/accor-bets-big-on-india-plans-75-hotels-in-3-years/articleshow/12588431.cms

 

3. Social venture fund Aavishkaar invests 26 crore in two companies

 

Karadi Path Education Co will receive 8 crore to expand its English language learning operations focussed on primary school students particularly in semi-urban and rural areas.Separately, Aavishkaar has also invested 18 crore in bio-mass company Vana Vidyut which is expected to set up India's first grid-connected bio-mass power plant with captive bio-mass feed stock from dedicated energy plantations.Aavishkaar, a rural and semi-urban-focussed venture fund raised capital which closed a first tranche of $70 million last year, has raised money from a set of marquee investors including International Finance Corporation, Cisco and CDC.

http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/social-venture-fund-aavishkaar-invests-26-crore-in-two-companies/articleshow/12590335.cms

 

Worth Reading:

http://www.bloomberg.com/news/2012-04-09/ceos-praising-diversity-stay-silent-on-no-women-augusta.html

Let’s count the events of the day

 

 

1. Ashton Kutcher To Play Steve Jobs In Upcoming Biopic

Ashton Kutcher is playing Steve Jobs. According to the AP, Kutcher's publicist has confirmed that the "Two and a Half Men" star will play the late Apple co-founder in the indie film "Jobs."According to Variety, which first broke the news on Sunday, the movie will follow Jobs on the journey that took him from "wayward hippie" to Apple co-founder. The movie is scheduled to begin production in May while Kutcher is on hiatus from "Two and a Half Men."

http://www.huffingtonpost.com/2012/04/03/ashton-kutcher-steve-jobs_n_1400093.html

2. Aberdeen Asset Management seeks $150 million in damages from Satyam

A group of investors led by Scottish investment house Aberdeen Asset Management have claimed damages from Mahindra Satyam in connection with losses they allegedly suffered on account of the 2009 fraud perpetrated by erstwhile Satyam promoter.The investors claim losses in excess of $150 million and interest at the rate of 8%, Satyam informed Indian stock exchanges on Saturday. The claim notice relates to legal action initiated Aberdeen Global and others before the High Court of Justice, Queen's Bench Division, Commercial Court in the UK.

http://economictimes.indiatimes.com/tech/ites/aberdeen-asset-management-seeks-150-million-in-damages-from-satyam/articleshow/12570066.cms

 

 

 

 

Worth reading:

Tata Motors at the 2012 DefExpo: Model Showcase!

http://economictimes.indiatimes.com/tata-motors-at-the-2012-defexpo-model-showcase/articleshowpics/12530098.cms

Renault Sherpa Light military truck displayed at 2012 Defexpo

http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/Renault-Sherpa-Light-military-truck-displayed-at-2012-Defexpo/articleshow/12569945.cms

http://economictimes.indiatimes.com/news/news-by-company/corporate-trends/purnendu-chatterjee-the-billionaire-who-lost-in-west-bengal/articleshow/12484506.cms

http://www.businessweek.com/slideshows/2012-04-02/playing-office-actors-as-business-leaders#slide11

The events of the day

 

1. IPL 2012: Kings XI Punjab rope in Videocon d2h, OCM as sponsors

Kings XI Punjab have roped in Videocon d2h and OCM as sponsors for the fifth season of the Indian Premier League (IPL), it was announced Wednesday.Videocon d2h will be the title sponsor and its logo will adorn the Kings XI Punjab team jersey.

http://economictimes.indiatimes.com/news/news-by-industry/media/entertainment-/entertainment/ipl-2012-kings-xi-punjab-rope-in-videocon-d2h-ocm-as-sponsors/articleshow/12533121.cms

 

2. Bajaj Auto raises stake in KTM Power Sports to 47%; has been consistently increasing stake

Bajaj Auto, India's second-largest two-wheeler maker, has tightened its hold on KTM Power Sports by buying another 6.3%, taking it stake in the Austrian motorcycle to a little over 47%.

http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/bajaj-auto-raises-stake-in-ktm-power-sports-to-47-has-been-consistently-increasing-stake/articleshow/12526404.cms

From Wikipedia: KTM Sportmotorcycle AG is an Austrian motorcycle, bicycle and moped manufacturer. The company was founded in 1934 by engineer Hans Trunkenpolz  in Mattighofen. It started out as a metal working shop and was named Kraftfahrzeuge Trunkenpolz Mattighofen. In 1954 KTM began producing motorcycles.KTM is most commonly known for its off road motorcycles though in recent years it has expanded into street motorcycle production.

 

3. Tata Power launches joint venture firm Cennergi with Exxaro Resources

Tata Power, along with South Africa's Exxaro Resources today launched their joint venture Cennergi (Pty) Ltd, that would focus on developing electricity generation projects in the African continent.Cennergi also marks a major overseas foray for Tata Power, India's largest private power generator.

http://economictimes.indiatimes.com/news/news-by-industry/energy/power/tata-power-launches-joint-venture-firm-cennergi-with-exxaro-resources/articleshow/12535009.cms

4. Canon ropes in Anushka Sharma; eyes Rs 2,300 crore sales this year

http://economictimes.indiatimes.com/tech/hardware/canon-ropes-in-anushka-sharma-eyes-rs-2300-crore-sales-this-year/articleshow/12532166.cms

 

Worth watching:

 http://www.youtube.com/watch?v=9c6W4CCU9M4

 

Worth Reading:

 http://www.bloomberg.com/news/2012-03-28/golf-s-masters-facing-male-only-dilemma-with-new-ibm-ceo.html

http://www.financialexpress.com/fe_express_gallery.php?id=161

Let’s Count the Events of the Day

 

1. Tech Mahindra-Mahindra Satyam merger: Exchange ratio of 2:17 positive for Tech M, say analysts.

Shares of Tech Mahindra rallied on Wednesday after its board approved merger with Mahindra Satyam to create the fifth largest software services exporter by market value.

http://economictimes.indiatimes.com/markets/analysis/tech-mahindra-mahindra-satyam-merger-exchange-ratio-of-217-positive-for-tech-m-say-analysts/articleshow/12352802.cms

 

2. Low-cost car to be sold under Datsun brand in India: Nissan

 

Nissan Motor Co said on Wednesday that the new low-cost car it has planned for India will be sold under the firm's revived Datsun branding.CEO Carlos Ghosn made the comment at a briefing in Yokohama, near Tokyo.

http://economictimes.indiatimes.com/news/international-business/low-cost-car-to-be-sold-under-datsun-brand-in-india-nissan/articleshow/12351660.cms

 

Bloomberg Reports:

“Maruti Suzuki, India’s biggest automaker, derives the majority of its sales from the mini-car segment that includes cars with 1 liter engines and less than 3.6 meters long. The New-Delhi based unit of Suzuki Motor Corp. (7269) offers its best- selling Alto model from 240,352 rupees. In October, Hyundai Motor Co. (005380) added its cheapest model, the Eon, priced from 269,999 rupees, to compete with Maruti in this segment.Compacts and mini-cars accounted for more than 75 percent of total passenger-car sales in the nation in the eleven months ended February, according to data released by the Society of Indian Automobile Manufacturers. Maruti had 42 percent of the total Indian passenger-car market while Hyundai had 19 percent and Nissan 1.5 percent, according to data from the group.”

http://www.bloomberg.com/news/2012-03-20/nissan-to-revive-datsun-brand-after-three-decades-to-boost-sales.html

 

 

3. Reliance Foundation launches Braille newspaper with Real Hero Swagat Thorat

The Hindi Braille newspaper was launched at Kamala Mehta School for the blind. It is called ‘Dhrishti’

Lets Count The Events of the Day

 

1, Apple Inc. (AAPL) will pay its first dividend in 17 years and buy back $10 billion in stock, heeding investors who urged it to return part of the $97.6 billion in cash amassed by robust demand for iPhones and iPads.

http://www.bloomberg.com/news/2012-03-19/apple-to-pay-dividend-buy-back-stock-to-return-some-of-its-cash.html

2. Starbucks goes natural, opens first Evolution Fresh juice store

Starbucks Coffee Co.’s foray into juice is bearing fruit (and vegetables), with its first Evolution Fresh store now open and selling “wholesome products” in Bellevue, Wash.

http://www.latimes.com/business/money/la-fi-mo-starbucks-evolution-fresh-20120319,0,7153835.story

3. Jet Airways discontinues JetLite, merges with JetKonnect

As part of a strategic rebranding and restructuring exercise announced last July, the country's largest airline Jet Airways today said, effective March 25, its low-cost arm JetLite will cease to operate, after being merged with the other no-frills brand JetKonnect.

http://economictimes.indiatimes.com/news/news-by-industry/transportation/airlines-/-aviation/jet-airways-discontinues-jetlite-merges-with-jetkonnect/articleshow/12330847.cms

4. Unibic sale won't impact India operations: Nikhil Sen, Managing Director, Unibic Biscuits India. last year private equity firmLazard bought into Unibic India by snapping up the shares that were owned by Unibic Australia.Unibic Biscuits India's other investors include Lighthouse Capital besides Sen. The company only pays a nominal royalty to Unibic Australia for use of the brand.

5. Rio Tinto is gearing up to develop India's second diamond mine in Bundelkhand (Chhatarpur, Madhya Pradesh)

6. Kevin Rose, the founder of Digg.com to be hired by Google.

Photographer: David Paul Morris/Bloomberg

19th March 2012

 

 

1. A lawyer for former Goldman Sachs Group Inc. (GS) director Rajat Gupta, accused of passing nonpublic information to Galleon Group LLC fund manager Raj Rajaratnam, said today that the U.S. had the “wrong man” on trial.

http://www.bloomberg.com/news/2012-03-16/gupta-s-lawyer-says-wrong-man-on-trial-in-galleon-insider-case.html

2. Google Inc. (GOOG), the world’s largest Web-search provider, is hiring Kevin Rose, the founder of news- aggregation service Digg Inc., according to a person with knowledge of the matter

http://www.bloomberg.com/news/2012-03-15/google-is-said-to-hire-kevin-rose-entrepreneur-founder-of-digg.html

3.  India, the world’s biggest bullion buyer, increased the tax on gold imports for the second time this year after record purchases widened the current-account deficit. Gold fell.

http://www.bloomberg.com/news/2012-03-16/india-raises-gold-import-tax-for-second-time-prices-drop-1-.html

4. Gunit Chadha now Co-CEO at Deutche Bank  - Close on the heels of Anshu Jain taking over the top job at Deutsche Bank in May, another Indian, Gunit Chadha has been promoted to a global role within the bank. Deutche Bank appointed Chadha as Co-CEO of its Asia pacific business with effect from June 1.

With an economics degree from St. Stephen’s College, Delhi, MBA from IIM-A and an advanced management program from Wharton School, Chadha has been the country head and CEO of Deutsche Bank in India and a member of the bank’s Asia Pacific executive committee since 2003.

http://www.indianexpress.com/news/gunit-chadha-now-coceo-at-deutche-bank/925412/

5. 3.2 per cent of Indian GDP due to Internet, numers of users set to grow: Google (Managing Director and Country Head of Google India Rajan Anandan)

 

6. http://economictimes.indiatimes.com/news/news-by-industry/services/retailing/aditya-birla-group-chairman-kumar-mangalam-birla-to-invest-rs-400-crore-more-in-retail-post-slowdown/articleshow/12321500.cms

 

7. UPS to Purchase TNT Express for $6.8 Billion - United Parcel Service Inc. (UPS) raised its offer for TNT Express NV (TNTE) by 5.6 percent to 5.16 billion euros ($6.8 billion) to secure the biggest deal in the U.S. company’s 105-year history and challenge Deutsche Post AG.

http://www.bloomberg.com/news/2012-03-18/ups-said-to-reach-deal-to-buy-tnt-express-to-grow-in-europe-1-.html

The Events of the Day

1. Infosys Technologies founder Narayan Murthy-owned Catamaran Ventures and Nexus Venture Partners have picked up 20 per cent stake in Bigshoebazaar India Pvt Ltd that sells apparel, shoes and accessories online for Rs 40 crore.

(source: http://www.indianexpress.com/news/narayan-murthy-buys-bigshoebazaar-stake/820551/)

2. The maiden flight test of ‘Prahaar’ developed by the Defence Research and Development Organisation (DRDO) successful.

3. The Cabinet approves a new Benami transactions (Prohibition) Bill 2011 to replace the existing Benami Transactions (Prohibition) Act, 1988.

4. Walmart and other retailers are teaming up with First Lady Michelle Obama to bring nutritious foods to the country’s “food deserts.”A food desert is a district with little or no access to foods needed to maintain a healthy diet but often served by plenty of fast food restaurants” (wikipedia)

5. Apple’s shares touch an all time high of $405. Has cash reserves of $76.2 billion USD.