An Indian customer checks out different varieties of rice at a wholesale market in the old quarters of New Delhi. India has scrapped import duties on edible oil and tightened restrictions on rice exports to rein in inflation that has hit a peak.
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ICICI-Bank, India’s largest private sector bank, has opened its first branch in New York. Under the licence granted by regulators in the country, it will initially provide services to corporate customers, but aims to go into retail banking.
Via Calcutta-Telegraph
Walt-Disney has reached a deal to more than double its stake in Indian TV and movie content maker UTV, the two firms said, underscoring the U.S. entertainment firm's efforts to expand globally.
Disney will raise its holding in UTV Software Communication to 32.1 percent, the same level as UTV's founders, from 14.9 percent, by acquiring 9.35 million shares for 8.05 billion rupees ($203 million), at 860.79 rupees a share.
"This investment further underlines our commitment to international growth," Walt Disney International Chairman Andy Bird told reporters.
India has the world's third-largest cable TV market, which is forecast to become Asia's most lucrative pay TV market by 2015.
Via Reuters
Apple has announced, its MacBook-Air will be available in India at an Apple store near you. The MacBook-Air has been talked about ever since it was announced by Apple Chief, Steve Jobs, at MacWorld 2008.
Via Techtree
Billboard advertising Reliance Power, at the Bombay Stock Exchange in Mumbai. Reliance Power, which last month made India's largest-ever IPO, fell more than 17% on debut, becoming the latest casualty of market turmoil worldwide.
> Reuters Pictures
The story of how Jaswant became Jack, as India became the world's back office, is out-of-date. Here's a look at how Jack became Jaswant as Indian firms increased their global footprint.
It started in the late ‘90s when Indian IT companies started opening new centres and acquiring companies from Japan to Mexico, South Africa to Australia. Every such move meant adding local employees to their rolls. It also meant training them about the company's work culture and mindset.
“In global workplace, ignoring cultural differences can heighten the risk of miscommunication,” explains K Venkataraman, director, Cognizant.
In fact, there's a growing demand even among clients preparing for their maiden visit to India for help with understanding the cultural traits and differences that separate them from their Indian counterparts. Realising this need, most IT companies have now created capsules and e-learning courses for their expat employees and clients. While each country has its own national culture, there is an overriding commercial culture that makes MNCs tick.
This works for Indian firms too. Wipro, for example, has over 26 development centres across the globe but it has some core values that are rooted in India.
These values give them an identity as an Indian organisation.
We simply do two things for our expat employees. Everyone is made to go through a 'Spirit of Wipro' workshop which initiates them about our core values. Then they are given a cultural orientation about India,” says Supriti Bhandary, GM talent engagement and development (Americas), Wipro Technology.
Similarly, Cognizant has an e-learning tool for foreigners. "It helps them understand Indian communication styles, social courtesies, body-talk, facial and other gestures, personal and social conversation," explains Venkataraman.
NIIT, which has been actively recruiting locals abroad since 1999, has a vision document. "We take them through the document when they join. Also, things like events in the social calendar of the company are followed across the globe uniformly," says Ashish Basu, President, Corporate Learning Solutions, NIIT.
Via Talk-Desi
Bangladesh has ended 2007 with 34.37 million mobile phone subscribers, up from 33.10 million in November last year, according to the latest update BTRC.
Grameenphone had 16.48 million customers, up from 16.01, while bangalink ended the year with 7.08 million customers, up from 6.51 million in Dec-2007.
Aktel has been losing customers during the year and ended December with 6.40 million subscribers while CityCell increased its subscriber base to 1.41 million.
Teletalk-Bangladesh had 850,000 subscribers, up from 720,000 a month earlier, and Warid Telecom ended 2007 with 2.15 million customers.
Via NFB-Blog
It’s an expansive-claim, but the figures bear him out: where else does a retailer find a US$300 billion market that is likely to double by 2011 and almost triple to about US$900 billion by 2015?It is firmly in the sights of Mittal, whose success in telecoms has taken him into the top ranks of India’s global wealth club and given his Bharti Group the firepower to focus on “organized" retail.
