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| May 08, 2008 | | Alibaba.com set to take top spot in India
Alibaba.com, China's biggest business-to-business website, on Tuesday said it was poised to become India 's top online marketplace by number of users as it launches its first major overseas expansion.
India futures ban mere 'posturing'
India 's threat to impose a blanket ban on agricultural commodities futures trading would not ease food prices, analysts, traders and food executives warned, describing the measure as political posturing.
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| May 07, 2008 | | Riches rise from Mumbai slum clearance
But this week, after years of navigating red tape, the 202-room Four Seasons Mumbai became the first luxury hotel of its size to launch in the city's south in about 20 years.
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| May 06, 2008 | | Arcelor cuts its holding in China Oriental
ArcelorMittal has sold part of its stake in a Chinese steelmaker it wants to control so it can meet the minimum free float requirement in Hong Kong where the shares trade.
India's battle with return of inflation
The Indian coalition government led by Sonia Gandhi, the Congress party leader, and Manmohan Singh, the prime minister, is watching the return of inflation to India with understandable alarm.
Hindujas plan to spend $50bn
The Hinduja family is planning investments of about $50 billion (Rs 2 lakh crore) in the next five years in India and abroad, led by a foray into oil and gas in Iran. The closely held group, run by four billionaire brothers, is also planning large investments in real estate, automotives, power and infrastructure, mostly in India, Europe and West Asia.
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| May 03, 2008 | | Rebooting the Indian green revolution
ITC has rolled out 6,400 e-choupals across India since 2000. The initiative has gained new relevance as New Delhi urgently tries to tackle threats to food security, the growing gap between rich and poor and stagnant agricultural growth that has added to soaring food prices.
Tata to launch banking arm if rules ease
India 's Tata group is moving to launch a full-service bank should restrictions preventing industrial groups from owning substantial stakes in banks be relaxed.
Bharti poised for MTN signal
Bharti Airtel, India 's leading mobile operator, said it could "move pretty quickly" if the board of MTN, the South Africa-based telecoms group, puts itself up for sale on Monday.
Camel demand up as oil price soars
Farmers in the Indian state of Rajasthan are rediscovering the humble camel.
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| May 02, 2008 | | Mumbai skies set for congestion crisis
The skies over Mumbai are set to face a congestion crisis early next decade with the Indian financial capital's existing international airport likely to be overloaded with passengers even after a $2.3bn expansion is completed, according to the city airport's top executive.
Mumbai arrives in style
In the past few months, shell-shocked air travellers emerging from Mumbai's domestic terminal 1B could have been forgiven for thinking they had somehow landed in Singapore. The revitalised terminal was the first sign that the airport's new regime, led by GV Sanjay Reddy, the managing director of the Mumbai International Airport, was beginning to have an impact.
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| May 01, 2008 | | Cairn India $800m pipeline approved
Cairn India has received a government approval that will enable it to proceed with the development of a pipeline to transport oil from its flagship fields in Rajasthan.
Bumpy ride for India airport projects
When the private consortium in charge of building and operating Bangalore's airport inquired last year about what was happening with the state government's road construction projects, it got some mixed news.
Aditya Mittal: The father, son and the great steel titan
One of the youngest - and most enigmatic - executives in any large company is Aditya Mittal, the 32-year-old chief financial officer of ArcelorMittal, the world's biggest steelmaker.
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| April 30, 2008 | | Indian researchers get helping hand
The Indian School of Business, in Hyderabad, is launching a two-year pre-doctoral programme free of charge for young Indian researchers who want to study for a doctoral degree at a top US or European business school.
Nomura sets sights on China and India
Nomura, Japan's largest brokerage, is considering mergers and acquisitions in order to build its presence in emerging markets such as China and India , where it needs operating licences. Kenichi Watanabe, new chief executive, said on Monday that "the market environment is difficult but [we] consider it a major opportunity" to expand in areas where the company lacks competitiveness.
Bharti eyes emerging markets
Bharti Airtelis looking to buy assets in emerging markets - the latest sign that India 's biggest mobile phone operator could broaden its base. One would see Bharti, which has a market value of $44bn, make a partial tender offer for a 51 per cent stake in MTN. This would allow MTN to retain its listing in Johannesburg and reduce the debt Bharti would need to take on to finance a deal.
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| April 16, 2008 | | Indian airlines face $1bn loss
India 's airline sector is expected to report losses of $1bn for the year ended last month - double that of a year earlier, according to the head of one of the country's biggest airlines. Naresh Goyal, founder and chairman of Jet Airways, said he expected high costs and fierce price wars to prompt more consolidation in the industry and Jet was ready to seize the opportunity to acquire rivals in India and overseas.
AstraZeneca reaches Ranbaxy settlement
Under the terms of the deal Ranbaxy will drop litigation it initiated in November 2005 and will sell Nexium from May 2014 - the expiry date of the first of a series of patents. Under US law Ranbaxy would be the exclusive generic distributor for the first six months.
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| April 10, 2008 | | IMF forecasts 'mild' US recession
The International Monetary Fund on Wednesday forecast that the US economy would slip into a 'mild recession' this year and warned that there was a chance that the global economy could follow suit. However, the IMF said emerging and developing economies would maintain robust growth rates, diverging from the rest of the global economy. IMF officials have publicly expressed growing alarm about how the credit crunch which began in the US.
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| April 09, 2008 | | There's no marketplace like home
Retailers and a growing number of companies, from banks to carmakers, have set their sights on "non-resident Indians". Indian telecom group Reliance Communications has sold 1.5m phone cards in the US, the UK and Australia, mainly to NRIs who want to call India.
Graduate visa scheme struggles with demand
The H-1B visa system was designed to allow top foreign graduates - including architects, engineers and computer programmers - to work in the US for up to three years but increasing demand and restricted capacity have left the system struggling to cope.
India follows China's path with Africa overture
India will unveil on Wednesday a "blueprint" for its intensifying engagement with Africa, a symbolic step that reflects New Delhi's anxiety over China's growing influence on the continent and its desire to mimic the close economic and commercial ties forged by Beijing in recent years.
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| April 08, 2008 | | HSBC loses 370,000 customer records
HSBC, the UK's biggest bank, has apologised to customers after losing the personal details of 370,000 people. The bank said a computer disk had gone missing after it was couriered from one of its offices in Southampton en-route to another office. The bank has informed the Financial Services Authority, the financial regulator, about the loss of the data.
Case study: India -- Franklin Templeton
Sukumar Rajah, chief investment officer of equity at Franklin Templeton Investments, India, has seen a shift from traditional investments such as bank deposits, property and gold, to mutual funds.
Engaging India: Public sector incentives
Engaging India is an online column analysing the issues, trends and forces behind the business and politics shaping India and its impact on the world. Engaging India appears on Thursday mornings exclusively on FT.com India, a dedicated online section on India, and is written by Jo Johnson, the Financial Times' South Asia bureau chief; Amy Yee, New Delhi correspondent; and .
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| April 01, 2008 | | BSE likely to list this year
The Bombay Stock Exchange could list on its own market this year either through an initial public offering or a direct listing, Rajnikant Patel, the group's chief executive, said. The move, part of efforts to reform India's second largest equities market after its demutualisation in 2005, comes as it seeks to raise its international profile.
India steels itself against inflation
India is expected to ask domestic iron ore producers to lower prices on Tuesday as part of a range of emergency measures aimed at stemming an alarming jump in inflation. The government is already considering reducing import duties and scrapping some export incentives for steel producers in response to rising inflation, which hit a 13-month high of 6.68 per cent in the week ending March 15.
Wanted: Indian chefs
Indian restaurants have become a prominent feature of the British culinary landscape over the past 50 years
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| March 26, 2008 | | Indian property sale flop could cause wider flap
One thing that has never been a hard sell in Mumbai over the past few years is property. But last week, for the first time in 13 years, Mumbai's metropolitan authorities failed to sell government land in an auction in India's financial capital.
US consumer confidence at 5-year low
US consumer confidence tumbled to a five-year low in March, disappointing economists and raising fears that the American economy could be heading into a deep recession. The Conference Board's confidence index fell from 76.4 in February 64.5 this month, compared with economists' expectations of a much lighter drop to about 74, as US consumers fretted over the deteriorating labour market and higher food and energy prices.
Maharashtra days of wine and roses
Staff at India's second largest winemaker are preparing for their 10th annual harvest party in mid-March at a new amphitheatre in the vineyard, which lies in the some of the richest agricultural lands of the western state of Maharashtra.
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| March 24, 2008 | | Starbucks in drive to improve 'experience'
New initiatives in the US stores will include the introduction of a new blend of coffee named after the company's first store at Pike Place, Seattle, and the rapid roll out of the new low-level Mastrena machines - which allowing greater eye-contact with customers. The new machines will be introduced into 30 percent of its more than 7,000 US stores by the end of the year, and into three-quarters of its stores by the end of 2010. The company also said it had acquired the Cof
Verizon to give China and India priority
Verizon Communications, the second-largest US telecommunications group, is to expand its global communications network to provide its multinational corporate customers in fast-growing markets like China and India with additional services. The decision comes as US telecommunications groups including AT&T increasingly look outside their domestic market for revenue growth from higher value added services.
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| March 20, 2008 | | Facebook throws down online chat challenge
Facebook plans to launch a new service that will enable the social network website's 60m users to chat with each other online. The service, which is expected to roll out sometime in the next few weeks, represents Facebook's latest challege to AOL, Microsoft and other makers of popular instant messaging programmes. It is likely to come as a blow to software developers who have been working on chat services designed to run on Facebook's popular application platform.
Boeing admits Dreamliner delay
Boeing admitted on Wednesday that it would have to redesign parts of its troubled 787 Dreamliner, raising the prospect of a third delay to delivery of the new aircraft would be delayed for the third time in recent months. The company's comments came in response to a warning from Steven Udvar-Hazy, chairman of International Lease Finance Corporation (ILFC), the 787's biggest customer.
Citigroup set to sell Australian unit
Citigroup may sell its Australian retail broking unit as it consolidates its wealth management business in Hong Kong and Singapore to compete for customers against bigger private bank rivals. The US financial group is understood to be in talks over the possible sale of Citi Smith Barney Australia to National Australia Bank. It also plans to close its CSB branch in Taiwan and merge others in Singapore and Hong Kong with Citi Private Bank.
First sovereign Islamic bond listed in London
The first government sukuk was listed on the London Stock Exchange as Britain reaffirmed its reputation as the main western centre for Islamic finance. Bahrain chose London to list its second Islamic bond as it sought to encourage more European and conventional investors to buy the paper. The Gulf kingdom listed its first sukuk in Luxembourg in 2004. Significantly, more than 50 per cent of the paper was bought by European investors.
For some at Bear, opportunity knocks
The shock and anger that had consumed Bear Stearns' 14,000 employees on Sunday afternoon had, by mid-week, yielded to a sense that the door of opportunity may have just opened.
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| March 19, 2008 | | Cairn India raises $625m
Cairn India, the oil company 69 per cent owned by FTSE 100 listed Cairn Energy, is raising $625m from a private placement of shares to two investors, one of them Petronas, Malaysia's national oil company. The money will be used to invest in Cairn India, including the development of its large Rajasthan oil fields, for which cost estimates have been rising.
Rice hits 34-year high
Rice prices surged to a fresh 34-year high on Tuesday as the Philippines awarded a tender for the staple at an average price of $708 a tonne, up almost 50 per cent from the price it paid in late January. The sharp rise reflects a market suffering from tightening supply after key producers India and Vietnam this month both imposed further restrictions on rice exports. Supplies from Thailand are also low, traders said.
Tata raises $3bn to finance Ford deal
Tata Motors has succeeded in securing a $3bn banking facility for its purchase of Jaguar and Land Rover from Ford Motor, which should clear the way for the deal to close next week. Tata's ability to raise the money in spite of the turmoil on debt markets represents a vote of confidence in the Indian company and removes one of the last main obstacles to the deal.
Fed cuts rates by 75 basis points
The US Federal Reserve on Tuesday cut interests rates by 0.75 points from 3 per cent to 2.25 per cent. The cut initially disappointed markets which had risen sharply on hopes of a 1 percentage point cut. The decision was taken by eight votes to two. First quarter earnings at the two Wall Street firms fell less than analysts had expected, easing concerns about the state of the investment banking sector.
Yahoo ups the ante against Microsoft
Yahoo on Tuesday attempted to bolster its case for an improved offer from Microsoft, releasing stronger-than-expected financial projections to support its decision that the proposed deal had seriously undervalued it. Microsoft made a cash-and-shares offer that was worth $44.6bn, or $31 a share, when it was announced on February 1. The financial plan was first presented to Yahoo's board in December.
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| March 18, 2008 | | Business missing 2012 bonanza
The bank's report found that small and medium-sized companies were particularly unprepared, with eight out of 10 yet to take any action to evaluate opportunities, compared with 58 per cent of larger businesses. Even though there are more than four years to go to the 2012 opening ceremony, the bank's experts warned companies should already be taking steps to secure a slice of the economic windfall.
US tech groups cut back on research
Some of the biggest US technology companies have put a lid on their research and development spending even as the industry enjoys its strongest period of growth this decade, according to the latest financial filings. The data, analysed by the Financial Times, point to the pressure that companies in some parts of the tech industry - particularly hardware makers and semiconductor companies - have been under to raise profit margins even in good times.
Sari seems to be the hardest word
A week before a good friend's wedding in Jodhpur, I am starting to panic. What is the difference between a casual shalwar kameez and a dressy shalwar kameez? Should I go sari-shopping in Southall or Mumbai? I flick through old issues of Hello! magazine, looking at Liz Hurley dressed up as an Indian princess for her wedding, courtesy of her famous designer friends: Versace, Valentino and Cavalli. My panic mounts.
Lufthansa to launch executive fleet
Several other European airlines have considered entering the corporate jet market, including KLM, the Dutch subsidiary of Air France-KLM, which has recently investigated the fledgling market for air taxi jet operations with four-seat very light jets. KLM has shelved the project, however, and to date only Lufthansa is pressing ahead with the development of its own fleet.
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| March 14, 2008 | | Investors nervous amid US recession fears
Trading across global markets remained volatile on Thursday, and the nerves of investors were tested by dollar weakness and continued worries about the deteriorating health of the financial system.
Pain for India's lenders as small loans sour
Low earners, who only months ago were being courted aggressively by private banks and finance companies, have begun returning to him for small loans. The problem of rural debt in India was highlighted last month when the government used the budget to grant a $15bn waiver to indebted farmers. But bankers say the debt troubles in agricultural areas are being matched by rising defaults among urban lower earners.
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| March 13, 2008 | | India faces wave of defaults
India is beginning to experience its own version of the subprime crisis as banks tighten lending procedures to curb rising delinquencies, particularly in small unsecured personal loans. India's financial system has so far been spared much of the pain of the global subprime crisis because of the relatively small size of its banks and their conservative investment focus overseas.
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| March 12, 2008 | | Employers cut back on hiring
Employers in many of the world's largest economies are "taking a step back in hiring", reflecting concerns that the crisis in financial markets could spill over into other sectors, according to a survey of more than 55,000 employers. The study, conducted in 32 countries by Manpower, one of the world's largest recruitment companies, reported that the jobs outlook in the US, one of the main engines of the global economy, was the weakest for four years.
Court delays India Vodafone hearing
A landmark court challenge by Vodafone against Indian tax authorities, which want it to pay an estimated $2bn in taxes on its acquisition of Hutchison Essar, has been adjourned for three months. The Bombay high court delayed the hearing until June 23. It is a case that has potential implications for mergers and acquisitions of Indian assets by foreign companies. The court said it wanted to allow time for changes to tax laws to come into force.
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| March 11, 2008 | | Ferrari takes lead over poor imitations
Under the slogan "Fakes cost more", the European Union is to throw its weight behind a global campaign against counterfeiting. A rare Ferrari and kung-fu-kicking monks will help launch the drive in Brussels on Monday. Jose Manuel Barroso, the European Commission president, is to open a counterfeiting summit attended by businesses, charities and campaign groups
India may have solved cheap energy question
Unlike biofuels made from crops such as soybeans and maize, jatropha is inedible, grows on non-arable land and needs little water or care.
Apple unveils iPhone grand plan
Steve Jobs and two of his top lieutenants spent just over an hour last week outlining their plans to allow software makers to create programs custom-built to run on the iPhone, Apple's innovative mobile handset. The move could mark the beginning of a new phase in the development of mobile software, as programmers build programs that are not limited by the physical constraints - such as fixed buttons and small screens - that plague many other mobile handsets.
Indian companies shrug off subprime gloom
Takeover deals involving Indian companies were valued at a total of $8.3bn and numbered 153 in the first 10 weeks of this year, second only in non-Japan Asia to China, with $11.5bn deals numbering 372, according to figures from Thomson Financial. Even as the global credit crunch has damped the appetite among US groups for deals, cash-rich Indian groups have been able to continue their hunt.
Vodafone in Mumbai showdown
In the case, which will begin on Tuesday and last for five days, Indian tax authorities will argue that Vodafone, the UK-based mobile phone group headed by Arun Sarin, is liable for an estimated $2bn in taxes on its $11bn acquisition of local operator, Hutchison Essar, last year.
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| March 08, 2008 | | Tata seeks $3bn in loans for takeover
India's second largest carmaker has assigned Citigroup and JPMorgan, its financial advisers on the acquisition, to arrange the financing with a range of other international and domestic banks taking part in the talks. The loan, which is expected to be mostly short-term bridge financing, is bigger than the anticipated purchase price of the deal, estimated at about $2bn.
India's biggest stars bowling for the brand builders
In India, it is par for the course. A visitor cannot set foot in the country without seeing on every television channel or city billboard the monarchs of the country's movie industry, Amitabh Bachchan and Shah Rukh Khan, backing almost any product willing to pay their fees. That trend is extending ever more strongly to the country's other national passion, cricket. The launch of a new competition based on a popular short form of the game.
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| February 28, 2008 | | New mobile players ring the changes
Apple, Research In Motion and ZTE Corp joined the ranks of the world's 10 largest mobile phone makers in 2007, underlining how technology advances and emerging markets are producing a new cast of winners and losers in the industry.
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| February 27, 2008 | | How to keep jobseekers and analysts happy
Analysts and investors, on the other hand, will care little what a company's home page looks like
Tata nears agreement with Ford on Jaguar-Land Rover
India's Tata Motors could sign a deal with Ford to buy the US carmaker's Jaguar and Land Rover marques as early as next Wednesday or Thursday, people familiar with the deal said on Tuesday.
Asian business warns of exodus
A body representing more than 1,000 entrepreneurs and executives from India and Pakistan has warned Alistair Darling, the chancellor, that his proposals for a tax crackdown on non-domiciled UK residents will lead to a much greater exodus from Britain than anticipated.
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| February 16, 2008 | | AT&T targets India's booming mobile sector
AT&T has applied for a mobile licence in India in partnership with Mahindra Telecommunications, a local telecoms company, and Mr de la Vega said it was hoping to acquire spectrum for its wireless services.
A strong flavour of Apple
The iPhone was not the first touch-driven handset when it launched last year, or even the fastest for internet browsing over standard cellular networks but the impact of Apple's consumer smartphone on the world's handset business still reverberates through the telecom industry.
Air France-KLM to take stake in US airline merger
Air France-KLM is planning to invest directly in the US airline industry for the first time by taking a minority stake in the group expected to be formed from a merger of Delta Air Lines and Northwest Airlines, the number three and five US carriers.
Web 'no good' for many enterprises
Almost half of all small business owners feel the evolution of the Internet has made it harder to run a company, according to research by Cranfield School of Management.
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| February 14, 2008 | | Emerging markets keep Coca-Cola bubbling
However, the world's largest non-alcoholic drinks company said that it remained well-placed to face any slowing in US consumer demand, as it reported results supported by strong international growth.
Google homes in on revenues from phones
Google's comments echo figures released recently by AT&T and O2, which carry the iPhone exclusively in the US and UK respectively.
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| February 13, 2008 | | Ebay's enduring appeal
Ebay has been described as a church jumble sale without the excuse of a belltower repair fund
American companies are falling behind in technology
The reason behind this surprising shift is that US companies dedicate the majority of their fresh capital to fortifying older systems while companies in Europe and Asia invest in more up-to-date systems
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| February 05, 2008 | | A disciple of Japanese quality management
Japan's veneration for order has been fully transplanted to this TVS factory in the city of Hosur.
Mortice targets Aim flotation
Manjit Rajain, Mortice's founder, will hold 75 per cent of the equity after flotation. He will use the funds raised to take the company into broader property and facilities management services across India. He said the company had looked at several stock markets, including in India and Singapore, before deciding to come to Aim because it would be cheaper, quicker and at a higher valuation.
SBI looks to Singapore in global push
India is keen to expand its banking system to help support its economic growth, which is the second fastest after China among Asia's large countries. Unlike China, its financial system is still small relative to the economy and its banks are dwarfed by many of their international peers, in spite of their vast potential market in India and overseas.
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| January 30, 2008 | | Top 20 schools lead the way on earnings
Roshan Gaonkar was working on the internal consulting team of US Airways when he realised that he wished to hone his business skills by doing an MBA.
Accenture's next champion of waffle words
When one door closes, another one opens. On Thursday the prison gates clanked shut behind Martin Lukes in Florida but, in London, the door of an office inside Accenture swung ajar, revealing Mark Foster, a middle-aged white man with a long-winded title.
China prepares for the handover
Family businesses and their inter-generational conflicts are rich fodder for Hong Kong scriptwriters. TV series including Steps (ostensibly about ballroom dancing), The Drive of Life (the Chinese car industry) or Best Selling Secrets (a media conglomerate) all feature an elderly patriarch presiding over a sprawling family business.
JSW Steel plans London listing
JSW Steel is planning to list an international mining unit in London in the first such move by one of India's fast-growing steel companies.
Vodafone clears tax-fight hurdle
The UK group bought a 52 per cent stake in the Indian company in May, which is now called Vodafone Essar. Mumbai-based Essar Group owns 33 per cent, with Asim Ghosh, Vodafone Essar managing director, and Indian businessman Analjit Singh owning the remaining 15 per cent.
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| January 29, 2008 | | Cairn India approval close
Cairn India, which is 69 per cent owned by London-listed Cairn Energy, is very close to securing the vital approval it needs to begin work on the pipeline to transport the oil from its vast Rajasthan oil fields, the Indian government has said.
Driving force
Tata Steel is the vanguard company in the Tata empire
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| January 28, 2008 | | Developing tastes
British food producers increased prices by 7.4 per cent last year -- the biggest annual increase since the country's National Statistics office began tracking them 15 years ago -- due to big jumps in the cost of producing bread, butter, eggs, milk and meat. In Russia, prices went up so sharply -- milk rose by some 30 per cent and bread went up 22 per cent - that the government froze prices towards the end of the year.
Homes for the mobile
The desire to seek work in new territories is another defining characteristic of the modern nomad
Lucrative Indian partner provides jewel in S&N crown
Heineken's joint takeover of Scottish & Newcastle could put the Dutch group in a position to try to take over the British brewer's fast-growing Indian partner, United Breweries, which is controlled by Indian billionaire Vijay Mallya, writes Joe Leahy in Mumbai.
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| January 25, 2008 | | Merrill to expand in emerging markets
Merrill Lynch is seeking to expand its presence in emerging market economies such as Brazil, Russia, India and China as it looks for new sources of growth to mitigate the downturn in US markets, John Thain, Merrill Lynch's chief executive, said on Wednesday.
M&A: Deal frenzy shows few signs of cooling off
As investment bankers in India returned to their offices in India's financial capital, Mumbai, after Christmas and the New Year, they must have suffered from deja vu.
Optimism outpaces hesitant reforms
When Ratan Tata, chairman of the Tata Group, unveiled the Nano at a motor show in Delhi this month, he captured the imagination of the automotive world with the "one-lakh car".
Luxury goods makers start to feel chill of recession
Signs that even the world's richest consumers are falling prey to recessionary fears gathered pace as two big luxury goods makers said demand from Japan and the US for Cartier watches, designer handbags and fine jewellery was slowing.
Fear of the unknown tempers IPO hopes
Last week's frenzy surrounding India's record initial public offering of Reliance Power was extraordinary - it seemed that everyone wanted a piece of it.
Western donors wrestle with the contradictions of rising India
Some bilateral donors, led by the US, now believe the moment is approaching when the aid flow to India can be sharply reduced. They note that India boasts more dollar billionaires than any other country in Asia, has world-class companies in a range of sectors, from vehicle assembly to information technology, and that it harbours plans for costly prestige projects, including an unmanned moon-shot later this year.
CapitaLand joins India property boom
CapitaLand, the Singapore state-owned developer, is set to make one of the biggest bets by a foreign company on India's retail property boom, investing in 15 shopping centres worth S$2.1bn ($1.46bn) in association with two Indian construction and property groups.
Tata considers US truck launch
Tata Motors is considering making its first foray into the US with a tie-up to sell its Ace 'mini-truck' with an electric motor in the country.
Economic strategy: Chinese road to nowhere
India's remarkable economic performance during this decade has put it alongside China at the centre of the world economic stage. Strong growth has been accompanied by rising integration into global trade and finance.
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| January 18, 2008 | | Engaging India: All in the name
When Anil Ambani, the billionaire businessman, launched the initial public offering of his company, Reliance Power, this week, he received enough orders to cover the $3bn listing within one minute of its opening.
Scrabble squabble
The breakthrough for Scrabulous came when it appeared on the social networking site. Now it claims more than 600,000 daily users, making it one of Facebook's most popular applications.
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| January 17, 2008 | | Gold loses its lustre for Indian families
"Demand for gold is virtually zero," said Suresh Hundia, president of the Bombay Bullion Association. "People are taking profits and selling their gold back to jewellers for 2.5-3 per cent less than international market prices."
Mattel in war of words over Scrabulous
Launched in July 2006 by Rajat and Jayant Agarwalla, brothers in their 20s from Calcutta, Scrabulous has become one of the most popular games played by Facebook members and boasts nearly 600,000 daily active users.
Detroit looks uneasily to the east
One sign of it was that the most discussed car at the Detroit show was not actually on display. It was Tata's $2,500 Nano small car for the Indian market, which captured the attention of US executives who have their own plans to push into India and to expand further in China.
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| January 16, 2008 | | Chinese dragon roars over Indian industry
As Manmohan Singh, India's prime minister, wound up his three-day trip to China on Tuesday, the growing trade imbalance between the two countries in favour of Beijing has proved to be one of the most contentious issues.
The economists' diet
Unlike most diets, the economists' regimen is based on more than just counting calories, reducing fat intake or eating specific food combinations, according to Prof Crowson.
Tata still chasing Orient-Express tie-up
Orient-Express has rejected repeated approaches from Tata's Indian Hotels Company, with the issue turning into a public spat in December when the US group said it believed such an alliance would damage the value of its brands.
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| January 15, 2008 | | Tata 'People's Car' could face rocky road ahead
He added that Suzuki could not build a car for the same price as the Nano without sacrificing quality and standards.
Honda disputes cheap car logic
Honda's chief executive on Sunday disputed the low-cost business model championed by India's Tata Motors, saying that bad roads and high petrol prices would keep many emerging market travellers on motorcycles for years to come.
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| January 12, 2008 | | Man in the News: Starbucks boss Howard Schultz
Howard Schultz has returned as CEO of Starbucks with a mission: reinvigorating the "romance and theatre" of coffee-making that have been damaged in global expansion.
Infosys develops new pricing models
Infosys Technologies on Friday said it was developing new businesses that were moving away from the traditional outsourcing model of charging clients based on the number of staff needed for a job.
Nano: The new Model-T
The truth is that this is an impressive realisation of a corporate vision, a car long-promised, designed explicitly to hit a price point, and one that will meet the needs of poorer consumers. It is safer than a bicycle and cleaner than an old moped.
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| January 09, 2008 | | Inflation fears drive gold to new record
Gold prices soared to a new record on Tuesday, driven higher by rising geo-political tensions in the Persian Gulf, inflation concerns and by investors seeking a safe haven from volatility in equity markets.
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| January 08, 2008 | | Indian business centre for Cambridge
The Judge Business School and the University of Cambridge have announced the launch of the Cambridge Centre for Indian Business.
India's power companies head IPO advance
Indian infrastructure companies are embarking on a fund-raising spree that will give investors access to what is expected to become one of the biggest sectors on the country's stock market over the next few years.
Wikipedia founder launches search engine
An Internet search engine that draws on human recommendations is due to make its first public appearance on Monday
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| January 05, 2008 | | Tata falls for the attraction of opposites
Half a world away, in more ways than one, Tata prepares to publicise its long-awaited Rs100,000 ($2,500) "one-lakh" car at the Delhi auto show next week.
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| January 03, 2008 | | US studios get taste for Bollywood
International investors are preparing to make an unprecedented onslaught on Bollywood this year, with several Hollywood studios and a group of London-listed funds looking to take a share of the world's most prolific movie-making market.
BAE silent on talk of Indian venture
The state-owned Indian company is already making 42 Hawks under licence in Bangalore as part of an pound 800m order to supply the Indian air force with 66 fighter trainers and train its pilots.
StanLife raises its Indian stake
Standard Life has raised its stake in an Indian life insurance joint venture to 26 per cent ahead of a proposed flotation of the business on the Indian stock exchange in 2009.
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| January 02, 2008 | | Faces of enterprise: Ratan Tata
A shy man, he rarely features in the society glossies, drives himself to work in a Tata car and has lived for years in a book-crammed, dog-filled bachelor flat in Mumbai's Colaba district.
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| December 28, 2007 | | India's IT outsourcers face increasing costs
Multinationals continue to view the country as one of the most viable outsourcing destinations, but competitive pressures are making other countries look attractive.
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| December 24, 2007 | | On Asia: Indian funds question value of AIM listing
Despite coming to market last year amid a barrage of publicity, many of the Aim funds are still trading at a discount to their net asset values and some are still trading below their initial public offering prices even as their peers that listed in India are enjoying the good times.
Cisco to network whole cities
Cisco Systems, the world's biggest maker of data networking equipment, plans to launch a business group, based in Bangalore, India, that will wire new buildings and even entirely new cities with state-of-the-art networking technology.
Mall monument to India's consumer class
What in a few years will be India's largest shopping mall today is a kilometre-long, three-storey deep hole in the earth marked with a billboard the size of a tennis court.
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| December 21, 2007 | | Tata takes umbrage at Orient's rejection
Tata Group on Wednesday accused the management of a US-listed luxury hotel group of a "fossilised frame of mind" for suggesting the Indian group's hotel chain would be an unsuitable strategic partner, and has demanded a public apology.
Mittal takes stake in UK soccer club
Queen's Park Rangers, the Championship football club co-owned by two of the billionaires behind F1, on Thursday welcomed one of the world's richest men into its fold when Lakshmi Mittal bought a 20 per cent stake, writes .
China and India deliver on M&A promise
If 2006 was the year when companies in China and India hinted at their potential to redraw the global landscape for mergers and acquisitions, this has been the year when they started to deliver on their promise.
Jasdaq and BSE in talks over tie-up
Japan's main market for emerging technology companies is in talks with the Bombay Stock Exchange for an alliance that could lead to Indian companies listing on its board in Tokyo.
Arsenal announces Indian football scheme
England's soccer league teams are following the lead of multinationals and beginning to look to emerging markets for growth, with Premier League leader Arsenal FC on Tuesday announcing an initiative aimed at giving it a foothold in India.
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| December 20, 2007 | | Young executives do not mean life ends at 50
Anyone who is 50, or approaching that age (for those wishing to send me a card, May 31 2009 is the date), must feel a pang at the idea that we are over the hill. Mr Mason's logic, picked up by the FT on a tour of Tesco's Fresh & Easy US stores, is that Mr Leahy will be there for some years yet and the board will seek a successor who can stick around for a bit.
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| December 19, 2007 | | From riches to rags
China and India are poorer than we thought; rich countries produce even more than we realised. Those are the obvious conclusions from an unprecedented exercise, carried out by a World Bank-led coalition.
Chinese, Indian economies 'smaller than thought'
The economies of China and India are 40 per cent smaller than previously thought, according to new estimates published by the World Bank this week.
Indian IT gears up for US backlash
"It will be a potent combination of a weak economy and an election year," warned Nandan Nilekani, co-chairman of Bangalore-based Infosys Technologies.
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| December 17, 2007 | | World food price rises set to hit consumers
Global food prices will come under further pressure on Monday as benchmark prices for cereals at much higher levels come into operation, making it almost inevitable that a second wave of food price inflation will hit the world's leading economies.
Google aims at Wikipedia with Knol service
Google has taken direct aim at the widely-used Wikipedia with a project designed to supplant the collectively produced encyclopedia as the primary source for basic information on the Web.
Close Brothers in takeover talks
Close Brothers, the UK investment bank that on Friday said it had been approached by suitors, is understood to be in talks with Orix, the Japanese financial group, and Tata, the Indian conglomerate.
Expedia to expand through fresh destinations
Just as Thomas Cook and Tui Travel emerge with upbeat trading statements after months of complex merger deliberations, in flies Expedia, their US nemesis, to announce that it plans an assault on their home turf.
Speak up Asia, or the West will drown you out
As globalisation changes the world, having a worldview of Asia that is essentially shaped by western outlooks and prejudices is not just narrow-minded, it is also potentially highly dangerous.
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| December 15, 2007 | | Man in the News: Vikram Pandit
This week, Citigroup named as chief executive Vikram Pandit, a cerebral strategist with a degree in electrical engineering and one of the best minds in the business.
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| December 14, 2007 | | Engaging India: Crackdown on 'noisy' driving
The Mumbai traffic police, in a move that runs against the very culture of driving in this city of 18m, have begun cracking down on noisy motorists.
IBM in $1.6bn emerging markets drive
The attempt to tap a wider range of developing countries comes as IBM's earlier investment in the four biggest - Brazil, Russia, India and China - has started to pay off.
Reliance mutual fund sells stake to Eton Park
Reliance Capital Asset Management, controlled by Anil Ambani, has sold a 5 per cent stake to Eton Park Capital Management in a deal that for the first time puts a value on India's largest mutual fund.
World View: Indian mutual funds
India's mutual fund industry is one of the brightest spots in an already fast-growing domestic financial sector.
Bebo developers deal blow to Google
Bebo, founded by Michael and Xochi Birch, said it had made its platform compatible with Facebook's. This will allow developers to make applications, such as movie ratings and photo-sharing tools, work on both sites with the minimum of alterations.
'Jackass' to shake up film distribution
Paramount is to become the first Hollywood studio to make one of its new releases available free on the internet before it has been released on DVD in a move set to shake up established distribution models for film content.
One country, two systems, and a headache for Mittal
So while awaiting Chinese government approval to take a controlling 73 per cent interest in China Oriental, ArcelorMittal is also proceeding with another deal that would give it an equally controlling 55 per cent of the company.
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| December 13, 2007 | | Goldman chief's pay set to hit $70m
Goldman Sachs on Wednesay began celebrating confirmation of bumper bonuses for this year, with the chairman and chief executive, Lloyd Blankfein, expected to lead the pack with a 30 per cent increase in his pay to about $70m.
Networking forum for rich aims to better their investments
A psychologist by training and an entrepreneur by trade, Claessens retired from corporate life more than a decade ago, after he sold Raadgevend Bureau Claessens, the human resources consulting group he started, to a private equity group.
Express your anger - it's all the rage
Companies have got themselves into a muddle over anger. On one hand they tell us to feel passionate about our work. On the other they expect us to be professional at all times.
Mirae aims for fund foray into India
Mirae Asset Management, one of South Korea's biggest investment companies, hopes to launch its first mutual fund in India early in the new year after the country's regulators last week gave it a licence to operate.
ABN Amro loses India chief
Romesh Sobti, ABN country head for India, will move to IndusInd Bank, a domestic private-sector institution controlled by the Hinduja family.
Rivals for Jaguar await Ford verdict
People close to Indian carmakers Tata Motors and Mahindra & Mahindra, and the buy-out group One Equity Partners, said on Tuesday that they expected Ford to respond imminently to their revised offers made last week.
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| December 12, 2007 | | India wants building workers back
"We are looking at how we can bring back skill sets developed by Indians overseas," Rajiv Singh, vice-chairman of DLF, said in an interview with the Financial Times. "Our desire is to have a very highly motivated and trained labour force come back and work for us."
How to solve the problem of the dollar
Further large shifts out of the dollar could indeed push the floating currencies far above their equilibrium levels, generating new imbalances and a possibly severe slowdown in global growth.
Two worlds collide
Naandi is one example of the increasingly common intersection of philanthropy and social entrepreneurship in India and south Asia.
Chinese inflation hits 11-year high
Chinese inflation reached an 11-year high of 6.9 per cent in November, a level that will harden Beijing's resolve to tighten monetary policy and probably further delay energy price reform.
Boeing names the day for Dreamliner
Boeing on Tuesday sought to calm concerns over its 787 programme by insisting it would deliver the first jet by the end of next year, although it left the door open for further delays by warning that the timetable was "aggressive" and far from "risk-free".
World View: India and atoms
It is still almost imperceptible. But the jostling in India's private sector for a position in what promises to become one of the country's biggest industries has already begun.
Pandit vows to simplify Citigroup structure
Vikram Pandit pledged to simplify Citigroup's organisation and reshape its businesses according to "economic realities" after being named chief executive of the bank.
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| December 11, 2007 | | Volvo to take on Tata in India
At the core of the new joint venture is an attack on Tata Motors, which dominates the commercial vehicle sector in the world's fourth-largest market for heavy trucks.
Axa's rare insight into the Asian giants
When it comes to the economic battle of the Asian giants -- China vs India -- plenty of people have opinions about which contender has the upper hand. But relatively few have practical experience of doing business in both countries.
India: Hubs are nub of the issue
For a direct indication of the premium attached to efficiently-run ports in India, one need look no further than the recent stock market listing of Mundra Port and Special Economic Zone.
Funds fight for front row seat in India
Many view private equity-related funds as a better way of capturing the upside in the economy, given that stock market valuations have been swollen by three to four years of almost uninterrupted share price rises.
Present tension
Thanks to India's increasingly open economy, no one there seems to want much from the West any more.
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| December 10, 2007 | | Goldman in $2bn property push
Goldman Sachs has amassed $2bn to use for property investments in Asia, a move likely to intensify competition for assets in fast-growing markets such as China and India.
IFC plans repeat of $1bn India investment
India has become a focus of private equity firms with deals worth more than $5.9bn this year, 50 per cent more than the total for all last year. Most of the leading firms have set up in India or are finalising plans to do so.
Vodafone forges Indian alliance
Vodafone, Bharti Airtel, India's largest mobile operator, and Idea, a smaller rival, have agreed to pool network infrastructure in a joint venture that may in the future seek a stock exchange listing.
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| December 08, 2007 | | Obesity throws wild card into US healthcare plans
Employers have begun to ramp up efforts to change employees' lifestyles, from smoking to obesity, with incentives including lower health insurance payments for health changes.
James Murdoch expands role at News Corp
As part of the reshuffle, James Murdoch will step down as chief executive of British Sky Broadcasting, and replace his father as non-executive chairman of the UK satellite broadcaster.
World View: No passage to India
For Orascom, the real jewel in HTIL's crown was Hutchison Essar, India's fourth largest mobile phone company and a natural complement to its existing operations in Pakistan and Bangladesh.
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| December 07, 2007 | | Engaging India: Vital remittances
A World Bank report released last week projected that remittances to developing countries alone will reach $240bn this year compared to $221bn in 2006, with Asia receiving $114bn.
Treats for those on the move
Gadget Guru this week focuses on mobile personal technology.
Business schools adopt gaming technology
More than 30 universities and business schools have so far signed up with IBM to incorporate the computer giant's Innov8 "serious game" into their programme plans.
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| December 06, 2007 | | The utopian myth of India's double dividend
While the national population explosion places nearly intolerable strains on India's physical and social infrastructure, the country's democracy is so dysfunctional that it is reasonable to ask whether it can rise to the looming economic and demographic challenges.
Indian airline privatisation faces uphill battle
Praful Patel, India's reformist civil aviation minister, has helped drive the privatisation of Mumbai and 's moribund airports, overcoming initial protests by employees.
Holcim to raise ACL stake in Indian push
Holcim, the world's second-biggest cement producer, on Tuesday said it would spend almost $600m to expand in India, underlining the determination of leading manufacturers to tap into key growth markets.
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| December 05, 2007 | | Property rise tests Indian foundations
Since India eased rules governing foreign investment in property in 2005, western private equity funds and, now increasingly, the cash-rich states of the United Arab Emirates across the Arabian Sea from India, have flocked to the country.
Emirates target India real estate
India's biggest listed developer, DLF, and Dubai's Nakheel have announced a joint venture with plans to invest more than $10bn to build two townships on 40,000 acres.
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| December 04, 2007 | | Discrimination rife in Indian economy
Male graduates applying for private sector jobs in India are far more likely to progress to the next round if they have high-caste Hindu names than if they have surnames associated with dalit (formerly untouchable) or Muslim origins.
India's elite schools aim at autonomy
With India's top business schools eager to establish themselves as leading global brands, government control is hugely restrictive.
Sony flops in Bollywood
Hollywood's first big foray into Bollywood has received a bruising reception in India with websites that track box-office sales branding it a flop.
Tata Steel joins 'coal rush' in Mozambique
The Indian steelmaker, which bought the Mozambique project with Australia-listed Riversdale Mining, sees the mine as essential in ensuring it has a sustainable supply of coking coal.
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| December 03, 2007 | | Google to compete in wireless auction
The company hinted that it is likely to offer at least $4.6bn for the most valuable piece of spectrum on offer.
How to handle bonus season
What is the best course of action for executives trying to allocate a smaller bonus pot? And how should they manage expectations to prevent mass defections or legal action?
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| November 30, 2007 | | Brands target India's 'orange' men
The use of henna as hair dye may be waning as western tastes sweep through the malls and markets of urban India, but it is far from dead in towns and villages.
Enough mobiles for 'half the world'
The actual number of people using mobile phones is 2.5 billion, as about a quarter of users are thought to have 2 or 3 mobile-phone connections.
Rise seen in Internet's role in espionage
More than 100 countries are believed to be using the Internet for espionage, says McAfee, the information technology security company.
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| November 29, 2007 | | DLF buys into chain of luxury hotels
DLF is paying $200m for a controlling stake in Amanresorts. The deal comes at a time when Indian automotive companies Tata Motors and Mahindra & Mahindra are bidding for Ford's luxury Jaguar and Land Rover marques.
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