In an earlier interview, chief operating officer N Chandrasekaran had voiced this concern and said TCS was taking some measures. The impact was also evident on the overall revenue contribution, which fell to 4.7 per cent in FY09 from 5.2 per cent in FY08. TCS' head for Apac, Girija Pandey, feels the region will continue to be volatile till they reach a certain level.
The Godrej group is revising its investment plans and revisiting its growth targets for the current financial year, as well as for the next five years, in anticipating of a higher GDP growth rate now that the Congress-led United Progressive Alliance government is firmly in the saddle for a second term at the Centre.
New Delhi-headquartered IT services provider HCL Technologies plans to cancel hedging contracts worth $600 million (around Rs 2,970 crore), as the rupee continues to remain at Rs 49-50 levels. These hedges, analysts opine, would be taken at a rate of around Rs 41.
Even as large fast moving consumer goods companies like Hindustan Unilever and ITC struggle with their volume growth, mid-tier FMCG companies like Godrej Consumer Products, Marico, Dabur and Nestle have reported strong spurts in volumes as they focus on inorganic growth and rural markets, according to industry experts.
Having spent the first 90 days meeting employees and key clients, Jeya Kumar, new CEO of Patni Computer Systems, is clearly in control. While he acknowledges concerns due to the current slowdown, he has started restructuring the company. He details the growth plans in a chat with Business Standard's Shivani Shinde.
While the Telecom Regulatory Authority of India has approved the access of TV on mobiles, service providers still cannot stream live TV channels on to the handset due to spectrum allocation from the Ministry of Information and Broadcast. However, since the regulations do not allow a direct transmission of TV channels, service providers as well as content providers have started using a technology called Unicast which provides content to end-user on a one-on-one basis.
Already, top leisure properties like Leela Kempenski, Goa; Park Hyatt Goa Resort and Spa; Radisson Resort & Spa, Alibaug; Royal Orchid, Goa and Mysore; and Club Mahindra Varca Beach Resort, Goa, are enjoying a near sell-out. Most hoteliers are maintaining their room rates, while some are throwing in joint packages involving discount coupons. Some have reduced room rates by 15-20 per cent.
Over the next three to five years, according to a Credit Suisse report, these cheap laptops and netbooks could add 170-250 million units globally to the current figure of around 300 million units. Netbooks sales, alone, could be 25 million units in 2009.
Prominent luxury hotel groups like JW Mariott, Royal Orchid, Taj and Intercontinental are using the Indian Premier League (IPL) cricket tournament to offer promotional food and beverage (F&B) packages to lure more customers in a sluggish economy.
On a week's visit to India to plan for business in 2009 and also to attend the wedding of India chairman Arvind Sharma's daughter, Tom Bernardin, chairman and chief executive officer, Leo Burnett Worldwide, announced changes in its global leadership council for a tighter integration of Asia Pacific with the Chicago headquarters.
Wipro sees a silver lining in Q1; others say recovery by 2009-end.
"We have reduced the time period for improving skills. Earlier, if an employee would show even a small improvement, we would give an extension of a few more months. Henceforth, that will not be done," said Ajoy Mukherjee, vice-president and head, global human resources. The company will consider an employee's performance for the past three years so as to maintain consistency.
Among the minority who are relieved at the rising heat are consumer durables' companies and retailers. Air conditioner (AC) sales are picking up in anticipation of a hot summer.
Now, watch customised election news on your TV. Big TV, a Reliance Anil Dhirubhai Ambani Group venture, is launching election-based interactive services that will be provided by its content partner CNN-IBN.
Data from web analytic firm Comscore shows that last year, social networking traffic saw a surge of a whopping 51 per cent in India. Social games are simple games such as word puzzles, antakshari or quizzes. Also referred to as Gaming 2.0, this form of gaming does not require high-end PCs or 3D graphics. ComScore reports that networking sites like Orkut, Facebook, MySpace, iBibo and Hi5 draw maximum number of social gamers.
The company, which has liquid detergent brands like Ezee and liquid cleaning agent brands like Godrej Dish Wash Liquid and Kiwi Kleen, is looking at companies that have good brands and distribution networks, largely in household care (detergents, cleaning agents segment) and haircare, with focus on colours and hair dyes. "Given the right opportunity, the company will spend around $100 million (Rs 5 billion)," said a source close to the development.
McDonald's, for instance, plans to invest Rs 120-150 crore (Rs 1.2-Rs 1.5 billion) for expansion in the current year. It will add 40 new outlets across India (it has 155) and open 40 kiosks, dessert and beverage service counters. Says Vikram Bakshi, managing director (north and east)" "We will maintain 30-35 per cent growth rate this year as well."
Stating that the differential pricing above Rs 12 was "unfair trade practice," Justice J D Kapoor, Delhi State Consumer Disputes Redressal Commission, said: "The process of converting ordinary water into mineral water is the same (for all bottlers) and the quality or purity is also the same. It is immaterial whether mineral water is obtained directly from springs or any other source." Yet, packaged water firms continue to price their 1 litre bottles above this amount.
"Japan currently accounts for 5 per cent of our revenues but we see this touching 9 per cent in the next three years. Business from Japan grew almost 35 per cent last year and we expect healthy growth from this region," said Deepak Khosla, senior vice-president and head, Asia-Pacific. Patni company has been in Japan for over 10 years but, in the past two years, the momentum of deals has increased considerably.
Tata Motors has opted unconventional mediums like web search, viral marketing and innovative public relations-driven campaigns, where the news in brief is called 'Nano news' in some papers and television advertisement breaks are called 'Nano breaks.' There is also Nano merchandise like T-shirts and key chains. Unlike most car launches, it is not supported by a television campaign, leading to a big saving for the company.
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