Big retail is fine tuning its strategy to win over critics and corporate social responsibility drives are providing it with the means.ITC and Reliance have already launched projects to recruit street hawkers, the main adversaries of big retail. And now Bharti Mittal has opened a retail innings of its chain, Easy Day, in Ludhiana with something similar.
The rise in raw material costs has caused a 10 per cent increase in the retail prices of fast-moving consumer goods as companies are passing on the rise in costs.
Datacom Solutions, promoted by consumer electronic goods maker Videocon Industries, is close to roping in South African telecom major MTN group as a partner for its GSM foray in the country. According to sources, Datacom, which was scouting for a partner to bring in investments and technology, has short-listed MTN. Discussions with the South African company are in the final stage and a deal is expected to be signed soon.
Finance Minister P Chidambaram said on Tuesday the government has received a proposal from the Prime Minister's Council on Trade & Industry for setting up a $5 billion sovereign wealth fund. The council consists of industry captains. "The council has suggested that there is a need to create a sovereign fund of $5 billon to begin with for financing acquisition of companies abroad," Chidambaram told the Rajya Sabha.
India's tennis ace Sania Mirza would undergo surgery on her troublesome right wrist in Miami on Thursday which would put her out of action for at least four weeks. The injury had also forced Sania to pull out of the Sony Ericsson Open last month.
M&S may hold a majority stake in the venture and the final contours of the partnership are being finalised. India allows 51 per cent foreign direct investment in single-brand retail and 100 per cent in cash-and-carry operations. Multi-brand retail is barred for foreign companies and investors. M&S may hold a majority stake in the venture and the final contours of the partnership are being finalised.
According to unconfirmed reports, North India has seen a Rs 3 hike. A Delhi-based dealer said the companies had told him that the price would go up by Rs 5 a bag in a day or two. "The companies raised wholesale prices and we passed on the burden to consumers," said a Mumbai-based dealer who did not want to be named. The present retail price in Mumbai is Rs 274 per bag. Market sources said Chennai had seen a hike of Rs 3.
The Rs 200,000 plus perks hike for regulators proposed in the Sixth Pay Commission is likely to attract good talent. It would be sufficient incentive for both private sector executives and serving bureaucrats to join as watchdogs. The Commission has recommended that the remuneration of chairpersons of regulatory agencies like the Sebi, Irda, Trai, CERC as well as the Competition Commission of India be hiked to Rs 300,000 if they do not avail of perks like cars and housing.
The fourth quarter of financial year ending March 31, 2008, may hold a mixed bag of results for Indian information technology (IT) companies. On the one hand, IT firms - which hedged themselves taking the view that the Indian rupee would continue rising against the US dollar - will have to bear a negative impact on the portfolio that has been hedged so far. On the other, their top line as well as operating margins (EBIDTA) will get a boost since the rupee has depreciated.
Nepalese police on Friday decided to slap charges of illegal kidney transplants and foreign currency violations against alleged kingpin Amit Kumar as India wanted him to be handed over to the Central Bureau of Investigation at the earliest.
Call it the "Nano effect" but less than a month after Tata Motors displayed its competitively-priced small car at the Delhi auto show, prices in the 1.3-million used-car market crashed 15 to 30 per cent, if not more.
Many banks have begun to work on plans to provide assistance to brokers to ensure they do not default on any payments amid a turbulent stock market, following the finance ministry's unofficial advice to them to explore ways of supporting market players. All the actions would be initiated within the prudential framework like adhering to the limit on capital market exposure, said a top executive of another PSB.
Bangalore-based software giant has teamed up with eminent cartoonist Mario Miranda to create an advertising campaign that will light up its recruitment brand. The Goa-based cartoonist will educate potential recruits about Wipro through his characters.
Industry representatives recommended that the basic annual exemption limit for individuals should be raised to Rs 1,50,000 from Rs 1,10,000 and the peak income tax rate be cut to 25 per cent, from 30 per cent at present.
In another setback to Big Pharma, US drug major Eli Lilly's blockbuster erectile dysfunction drug Cialis (generic name:Tadalafil) has failed to qualify for a product patent in India after the basic constituent of the medicine was found to be a known substance, developed and patented by Indian scientists 32 years ago.
"The cost of economic crime in India is significant, which is also evident from some of the large frauds experienced by the country in the last two years," said PricewaterhouseCoopers Advisory Leader Ashwini Puri, adding, "Additionally, average cost to manage economic crime in India is close to double as compared to global averages."
A clutch of foreign and domestic institutions has submitted expressions of interest to acquire at least 26 per cent in the Delhi-based Industrial Finance Corporation of India (IFCI).
The ban, although described as temporary, is being seen as a knee-jerk reaction by the state government following the attacks on Reliance Fresh and Spencer's stores and has raised several questions over its farm policy.
According to Krishi Bhawan officials in New Delhi, due to the well-distributed rainfall this monsoon, kharif production is set to rise perceptibly and consequently the net sown area will also increase.
The country's leading music companies are grappling with a new problem: how to sell their music. Sale of cassettes and CDs are on the decline, while online sales have been severely undercut by free downloads.
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