After a gap of five years, Hindustan Unilever has bagged slot zero position on B-school campuses. In 2007, the company had slipped to number 14 on the recruiters' list of B-schools. "It's an improvement of our brand value and affirmation of our employer brand," says Leena Nair, executive director HR, Hindustan Unilever.
Information technology firms, which are already in trouble due to the slowdown in their key markets, are now facing payment delays. Many firms said collections cycles (receivables) are getting extended.
The situation at various second-run management and engineering institutes is no different, courtesy the slowdown that has impacted even their better-known counterparts like the Indian Institutes of Management and Indian Institutes of Technology.
Around 8 IT firms have withdrawn from partnering 11 out of the 20 IIITs, says govt.
As many as 70 restaurants in Mumbai have shut shop in the past six months, owing to spiralling costs, high taxes and a downturn in the economy.
The Federation of Hotels and Restaurants Association of India has made a presentation to the government, requesting certain tax exemptions.
Hotel expects 25-30 per cent occupancy on December 21 when it throws open its doors. Trident regulars are preparing to return to the hotel sooner than later.
Sources familiar with the developments said the government will file an application in the Bombay High Court by the end of December or early January. RIL on its part has already appealed against the order.
Additional solicitor general Mohan Parasaran talks about the logic behind withdrawing the government affidavit in the RIL-RNRL gas dispute in the Bombay high court.
In addition to that, an increasing number of airlines like SpiceJet, national carrier Air India and GoAir are either getting into hedging of aviation turbine fuel or increasing the quantum of ATF hedged on the MCX. Last month, state-run Indian Oil Corporation approached MCX to provide it with a platform to hedge its refinery margins and end products from crude oil.
Venture capitals in India, which traditionally invested in urban segments or technology sector, have begun investing in rural-centric technology firms. Avishkaar India Micro Venture Capital Fund, Acumen Fund, and Rural Innovations Network are showing increased focus on rural markets.
Anil Ambani-promoted Reliance Natural Resources has filed an affidavit in the Bombay High Court in the case involving Reliance Industries, refuting the petroleum ministry's stand that the government-approved price of $4.2/million metric British thermal unit (mmBtu) is the selling price of gas.
On the back of a global meltdown, big-ticket firms may not be flocking at the premier Indian Institute of Technology campuses. IITians, however, have not lost all hope. Many are looking at start-ups for their first jobs.
Hotel tariffs have dropped by as much as 20 per cent after last week's terrorist attacks on Mumbai that forced international tourists to cancel travel plans.
The trickle has begun and could turn into a flood. At least 15 per cent of overseas visitors have cancelled their tour plans to India following terrorist attacks on key locations in Mumbai, tour operators said. The attacks claimed nearly 200 lives and injured more than 300.
Revenues from management development programmes expected to slow during the next quarters. On an average, MDPs contribute around 35 per cent to the revenue stream for B-schools. With companies tightening their purse strings, B-schools could see a direct impact on their revenue stream. Companies have confirmed that they are cutting down spending on training programmes.
Ben Verwaayen, CEO, Alcatel-Lucent, does not consider India as a low-cost destination. Rather he does not like to use the word offshore in the context of India. "If it is just about cost then I would not have been in India but to some other low-cost country. For me, India is a high talent country," he adds. As the person who was heading British Telecom's operations before taking over Alcatel-Lucent, he has pushed over a billion dollar of outsourcing work to India.
Consolidating on its 500-year-old legacy of providing quality education, The Society of Jesus (SJ) (popularly known as Jesuits) has applied for a Central University status with the Ministry of Human Resource Development (MHRD).
The IT industry, which has already taken a hit of more than Rs 500 crore in the second quarter because of the appreciating dollar against the rupee, will now be hit by adverse cross-currency movements even as they attempt to boost the share of revenue from the UK and the Eurozone. Unfortunately, the hit will be despite attempts by software makers to step up hedging in the pound and the euro. The IT industry earns about 60 per cent of its revenue from the US.
Industry insiders as well as sector experts said that companies are unlikely to miss this opportunity to rationalise bloated boom-time salaries.
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