Korean car maker Hyundai Motors India Ltd said it will have to lay off 2,000 temporary workers, about one-fourth of its labour force, to tide over a decline in car sales. The company employs over 8,400 workers, of which around 3,300 are temporary.
This is the second project in the country in which a metro rail project is being undertaken through a PPP model after the 71-kilometre Hyderabad metro project was won by Maytas Infrastructure. According to industry sources, infrastructure major Larsen & Toubro had also initially shown interest for the project, but backed out finally.
This is the first time Hill & Knowlton, part of the WPP group that has several joint ventures in advertising, is venturing into India in this area. The Hong Kong-based company has presence in more than 41 countries across the globe. The PR business has been attracting the attention of international agencies and many have already set up JVs or signed partnerships with Indian players.
The last couple of months have dealt a severe blow to IT firms, which has even prompted the top listed Indian IT services providers to inform investors that they need to scale down their growth expectations from the sector that, on an average, has been growing almost 30 per cent year-on-year.
It all started with the advent and success of smaller laptops or netbooks, as they are called, in June 2008. Now, Indian and multinational PC makers like Asus, HCL Infosystems and Wipro are ready to give a push to the retail sales of even smaller desktops or Nettops, based on Intel Atom processors. Others like Dell, HP and Lenovo are expected to follow.
Terrorist attacks are becoming increasingly sophisticated and consistently exploiting India's gaping security loopholes -- both on terra firma and in cyberspace. Yet, India's seriousness about electronic surveillance as a preventive measure appears to be woefully inadequate.
"While telecom operators may get a licence for spectrum and have the money to build networks, they may not necessarily have the management skills. We are in talks to explore possibilities of knowledge transfer and help operators build capacities by lowering entry barriers," said Barry West, CTO, Sprint, and president, Xohm. Globally, Sprint is not doing well. It is now banking on WiMax to boost its revenues.
Days after NTT DoCoMo of Japan announced that it will buy 26 per cent in Tata Teleservices for $2.7 billion, NRI businessman C Sivasankaran has decided to put on the block his eight per cent stake in the company.
After 11 years of hanging like a sword on PepsiCo India Holdings Ltd, the government's condition that the company must dilute its equity in fully-owned downstream ventures is close to being waived.
The Foreign Investment Promotion Board (FIPB) has rejected a proposal by Tata Investment Corporation (TIC) to issue zero coupon convertible bonds (ZCCBs) with detachable warrants to its shareholders.
The government and Reserve Bank of India are working on measures that include relaxing norms for Non-Performing Assets (sticky loans) and prudential lending to kick-start key infrastructure projects.
The government is discussing a number of policy measures to insulate India from the impact of the global financial crisis including further banking reform, industrial de-control, auctioning all loss-making public sector units, foreign investment in retail, amending labour laws and notifying important pending legislation like the Delhi Rent Control Act.
Singur divided between those who want Tata back and those who just want their land.
With India's two leading IT outsourcing companies, Infosys and HCL Technologies, vying to acquire the UK-based consulting firm Axon, SAP implementation is back in focus.
Eyeing to make 8 buys to meet their revenue guidance.
The regulator has suggested that all spectrum will be auctioned as opposed to the current policy of bundling it with a 2G licence. A beginning has been made with the auctioning of spectrum for 3G services, which is due later this year. Trai has also suggested that licences for any telecom service should be auctioned as opposed to the current policy, where it is given on a first-come-first-served basis. The new policy is expected to be ready by the end of December this year.
At least three major broadcasting companies have held discussions on forming a combine, the first of its kind, to counter the might of media buying houses in dictating commercial air-time rates.
India will be one of the key centres for design and development of the A350 aircraft, European aircraft manufacturer Airbus' answer to the Boeing 787 Dreamliner.
It is not clear, however, whether the two players are considering a majority stake or would be content as investors with 26 per cent.
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