Business News This Week

IIM Indore declares IPM 2013 results

2013-06-17T16:30:00.004+05:30

The happiness of celebrating the success has become habit of miim. The results of IIM Indore-IPM 2013 have been declared and miim is proud to provide 14 of students for admission in IIM-IPM for the current session. While each successful student is being greeted by the institution, at the same time, the rest are being groomed to appear in the ensuing exams.

Miim has devised the correspondence course for students, keeping in view the willingness of their parents. Most of the parents feel that their ward need not to go elsewhere, and the courses which could help the students to appear in IIM-IPM, without disturbing the regular course is preferred. Miim is going to start SKYPE facility. The student will have opportunity to interact with our faculty, twice in a week. The frequency can be extended at the request of the students.

Admissions for correspondence courses for the year 2014 are open and students desirous to appear in IIM-IPM examination will have opportunity to prepare themselves for their goal well in time.

Atul Malikram, mentor miim says” Our dream of establishing such an institution, which opens the gates of success for students, seems to be fulfilled. We have been successful in assisting the students registered with us to appear for IIM-IPM, for two consecutive years. 57 students were successful in aptitude test, in 2013, and ultimately, 14 were found selected. Thus the graph of success is inclining, year after year. We have devised the relative course in such a way which suits the students, even after 10th class. The students aspiring for IIM-IPM may join are invited to join us and make their future bright.”

To get information and expert counseling for 5 year integrated program in Management (IPM) by IIM, Indore, contact: MIIM Education Private Limited Mob: 09755020247

E-mail – atul@atulmalikram.in Website: www.miim.co.in

JD(U) to leave BJP?

2013-06-12T15:12:00.000+05:30

BJP is facing another fresh trouble after the issue of Advani resolved. This time the ally of the BJP and NDA, JD(U) may leave the coalition following elevation of Narendra Modi in BJP.

That was the major reason the made Advani to resign from the party posts and withdraw it after few days of crisis in the party. Several meeting of the BJP leaders were held to bring back Advani to BJP again.

However, the damage was witnessed in the coalition politics with the BJP. Considering the current political scenario, there more chances of building a third front in India politics, which was executed in 1990s, but failed due to many reasons.

The Mamata Banerjee of TMC has suggested for a federation of parties, which could be best alternative to form a government at centre barring BJP and Congress.

The JD(U) has reportedly welcomed suggestion from the TMC, and it may lead to leave the BJP and NDA coalition. The Modi factor did not favour the BJP in the case of the coalition with JD(U) or may be with other its allies.

If the parties come together to form a federation of parties instead of supporting NDA, then the scenario would be more different after the general elections are over in 2014.

Indian Rupee slides to 58.30/USD

2013-06-11T10:07:00.001+05:30

Not good news for the investors in Asian region as the India rupees hit all-time low of 58.30 against USD, in the opening trade on Tuesday. The fall in the value of rupees against US dollar would be the major concern for the investors in India.

Certainly, the import costs would go up weighing high on the Indian economy. In short-term the trade deficit would be at the its peak as the balance of payment might be disturbed with the high rate of US dollar against Indian rupees.

India parents would be more concerned if the children as studding in US as they need to pay more for the education fees. And the fall in the value of rupees also not a good sign for commonmen as the price of petrol and diesel could go up soon.

With the high international crude pride due to the high dollar value, Indian oil companies may go to hike the retail price of petrol and diesel ,which ultimately would be a big burden the consumers – the commonmen.

The rupee was closed at 58.15/16 against US dollar in the international currency market. Further slide in the value of the rupees could tumble the economy. However, the high dollar value a good sign for the IT and export companies, those have been getting their payments in US dollars.

L K Advani era ends in BJP

2013-06-11T09:51:00.001+05:30

The man who spent maximum time of his life to build the Jan Sangh and BJP, L K Adavani, resigned from posts in the party on Monday. However, the BJP President Rajnath Singh told media after having the parliamentary board meeting to media that, the resignation of Advani was not accepted. Four members were absent in the meeting, he added.

Now its official that the appointment of Narendra Modi for as the Poll Panel chief, which also pointing that, he could be the next Prime Ministerial candidate of the party for the next general election in 2014, was the main reason behind the resignation of L K Advani.

In past also, similar such thing happened, when the then president of the party, Venkaiah Naidu had referred Advani as ‘Loh Purush’ and Atal Bihari Vajpaye as ‘Vikash Purush’. His statement were criticised and many reported that Vajpayee become single in the party and losing grip of his influence on the party leaders. Same thing happened with Advani this time and the reason was Narendra Modi.

According to media reports, the RSS reportedly appealed the BJP President Rajnath Singh that there should not be any changes in the appointment of Narendra Modi as the Poll Panel chief.

Similarly, Uma Bharati was also left the BJP blaming on some of the senior leaders in the party many years ago. Advani said to be the guru of her, and she backed to party after consulting with Advani.

There might be many issues including appointment of Modi, those made senior leader of BJP to tender his resignation.

It is not clear whether he will back to party again, however all the top brass leaders were approaching him regularly.

BJP appoints Modi as head of Poll Panel

2013-06-10T09:33:00.001+05:30

It was speculated but not clear until Sunday, everything was clear after the name of Narenda Modi declared by Rajnath Singh, the BJP President, as the chief of Poll Panel. A big responsibility has been given to the firebrand and saffron leader Narenda Modi.

There were differences among the party leaders over appointing Modi as head of the poll panel. The party will follow him for the next general election in 2014. The Goa BJP meeting was proved lucky for the Narendra Modi for the second time in 2013 after in 2002.

After the Godhra riots, the BJP meet at Goa had reportedly planned to out the saffron leader Narendra Modi, but the seniors leaders Atal Bihari Vajpayee and L K Adavi backed him.

However, the name for the prime ministerial candidate is yet not declared, but believed that Modi could be the best leader for the top job. But that may clear during the election time, when the party will start campaign after declaring the candidate for the top job, as it has been doing.

According to some experts, the appointment of Modi as the poll panel would have positive impact on the Hindu vote bank of the party.

FDI Policy Clarifications on Multi-Brand Retail Trading in India

2013-06-07T10:02:00.003+05:30

Yesterday Department of Industrial Policy and Promotion (DIPP) had answered many queries from stakeholders and investors regarding the FDI policy of Multi-Brand Retail Trading. After the FDI in retail has got the green signal, many single brand retailers are showing interest to invest in India. But the multi-brand retail trading is still deeming as most are still unknown to the rules.

To clear the confusion DIPP answered the queries and also published a document regarding this. We’ve compiled some of the major queries and their answers here –

Issue - 30% sourcing from Small and Medium Enterprises

Question - Can the Foreign Investor purchase the 30% of the total procurement of manufactured or processed goods by the SME but distribute them either through the retail operation and/ or cash & carry operations and/ or export for the Foreign Investor’s International retail & trading operations?

Answer - No. The 30% sourcing will be reckoned only with reference to the front end store. As such a Multi-brand retailing entity cannot engage in any other form of distribution.

Issue - 50% investment in back-end infrastructure

Question - Can the new retail entity to be set up acquire supply chain/back-end assets or stake from an existing company having such assets and will such assets /stake values be counted towards the back-end investment requirement?

Answer - No. Entire investment in back-end infrastructure has to be an additionality. The entity can invest only in greenfield assets and it will not be possible to acquire supply/chain/backend assets or stakes from an existing entity

Question - Whether investment in back-end infrastructure for instance for storage, warehouses, agricultural produce infrastructure in non-FDI approved states will be counted towards investment in back-end infrastructure.

Answer - FDI in these activities is already allowed throughout the country. As far as MBRT is concerned FDI in non-FDI approved States in back-end infrastructure will be counted provided it is additionality.

Question - Will the new retail entity include back-end facilities that have the capacity to supply its own businesses and other businesses? It should be free to supply back-end services (e.g. logistic supply, goods) to related or third party companies, including but not limited to the company’s existing wholesale entity and the retail franchisee operated by its partners.

Answer - As per the conditions for wholesale cash & carry trading, such an entity is not permitted to undertake retailing of any form. Therefore, both the businesses have to be kept separate through different entities. As regards supplies by MBRT company to franchisees run by its partners, it is clarified that the policy envisages multi-brand trading in retail. The MBRT entity is not envisaged to undertake wholesale activity i.e. B2B. The front-end stores set up by MBRT entity will have to be ‘company owned and company operated’ only.

Question - Would a company operating in wholesale trading/ cash & carry trading be considered as a company providing back-end infrastructure in efficiently distributing the goods to the small retailers and professional/ business users?

Answer - No. The wholesale trading/ cash & carry trading cannot be considered to be providing back-end infrastructure. FDI in MBRT will require fresh investment in back-end infrastructure.

Investment in Front-end / back-end infrastructure

Question - If the same foreign investor is an investor in various companies for logistics, services etc., will the back-end investment made by such investor be aggregated?

Answer - No. Investments in multiple infrastructure companies would not be counted towards fulfillment of condition of investing 50% in the back end infrastructure.

Policy on E-commerce

Question - Allowing online sales will enable the Company to better serve Indian customers through enhanced convenience and assortment as well as improve the site customer experience. This will allow the company to make significant investments in Logistics.

Answer - Multi-brand retail trading by way of e-commerce is not permitted.

Investment in greenfield or brownfield front-end entities

Question - Can the minimum investment of US$ 100 Million be used to acquire existing retail stores or setting up new retail stores or a combination of both?

Answer - 50% of the investments brought in, must be invested in back-end infrastructure, and any amount spent in acquiring front end retail stores would not be counted towards back-end infrastructure. The front-end retail stores must also be set up as additionality and not through acquisition of existing stores.

As per the reports, there are some other issues which are still under consideration by DIPP and soon will be notified to the investors or stakeholders. For more information, download the full document from DIPP site here .

Image Courtesy - TheHinduBusinessOnline.com

RJD wins Maharajganj Lok Sabha bypoll

2013-06-07T09:55:00.005+05:30

Time for introspection for the JD(U) and Nitish Kumar after RJD winning the Maharajganj Lok Sabha bypoll. The seat was considered as question of pride for JD(U) and RJD in Bihar. Recently the RJD chief Lalu Yadav had a massive rally and that was the mega even of the party after a gap of many years of silence.

The JD(U) leader Prashant Kumar Shahi lost the battle against Prabhunath Sing of RJD. It is reported that the spat between the JD(U) and BJP over Modi could be the biggest reason for the failure of JD(U) in Bihar.

However, JD(U) leaders made it clear that BJP had supported their campaign in the election and ruled out any blame game there. On the contrary, the Narendra Modi factor seem to be working in Gujarat again, as the BJP won the two Lok Sabha and four assembly seats in Gujarat.

This development might cue the JD(U) leader to think about benefit from the Modi factor in the next mega poll in 2014. The NDA leaders may discuss about their strategies for the next elections before reaching any conclusion with losing Maharajganj Lok Sabha seat.

Narendra Modi is the leader of BJP’s Campaign Committee

2013-06-05T09:03:00.002+05:30

The senior leader of Bharatiya Janata Party (BJP) L K Adavni has reportedly given his consent to appoint the Guajarat Chief Minister Narenda Modi as the leader of party’s campaign committee. Now it is clear that the party will prepare its campaign for the Goa elections under the leadership of Narenda Modi.

Recently, Advani had praised the Chief Minister of Madhya Pradesh Shivraj Singh Chouhan as "humble man" in a meeting. Since then there were many reports in the media over his statement comparing the Narenda Modi and Shivraj Singh Chouhan. In his speech Advani had praised the work carried out by the chief ministers of Madhya Pradesh and Chhattisgarh.

Narenda Modi could be the party’s fist choice to project him as the Prime Minister candidate but so far there is no official version from the party yet. It is believed that the party has many senior leaders in the race for top job, and name would be finalized before the election. The party has been projecting the candidate before the election and it may follow its tradition for the 2014 general elections too.

At this time the party said to be preparing resolution and campaign strategy for the Goa elections. According to media reports, the president of BJP Rajnath Singh had called on Advani to discuss parties strategy over the Goa election.

Facebook boosts Self-Esteem

2013-06-04T12:44:00.002+05:30

Have you ever thought that a social media would boost your self-esteem? If not, it is true according to a research, and credit goes to facebook, the giant social media sites. The study shows that having a profile on the websites Facebook would boost your self-esteem and also bring some changes in behavior as well.

Facebook is not only a popular social media site but also become identification for many. The often use and updating wall are not helping you to be in contact with your friends and updating about your life but it also helping you in many ways.

Using social media sites for updating information is the latest trend among youth and Facebook holds a prominent role in that arena. Hardly do you find any person in the world, who doesn’t have idea about social media or facebook, to say clearly.

The technological revolution has changed the world and made the world into global village really, which was used a proverb in past to define something. But now, your word or pictures on facebook or any other social media websites can be access across the globe, and that is the bliss of the technology today.

And if you are gaining by using social media sites like Facebook, the one should use and get the benefit. That is good for all, to you and your friends.

BSE Sensex and NSE Nifty up till noon

2013-06-04T12:17:00.002+05:30

Both BSE Sensex and Nifty were up at Tuesday noon due to selecting buying by the investors. The Sensex was at 19,709.04 points with gaining 98.56 ( +0.50%) at noon and the Nifty at 5,970.20 pints gaining 30.90 (0.52%). The equity market rebound from losses sessions as recorded on Monday and last week.

The market has been bullying but this time very selective scrips have been given preference by the buyers. The BSE was down at the opening trade but the buying stocks gained the momentum as the day progressed. On the contrary, the NSE Nifty went down by around 30 points at 11 am, but gained later on and levelled with the loss till noon on Tuesday.

Top gainers at BSE Sensex were Bata India, Glaxosmithkl, Cadila Health, Glaxosmithkl Phar and L&T Finance Holdings till noon. And Nifty gainers were LT, CIPLA, RANBAXY, IDFC, LUPIN .

Losers at BSE Sensex were Gitanjali Gems, Dish TV India, Shree Cement, Mangalore Ref, HDIL and SESAGOA, ULTRACEMCO, JINDALSTEL, HCLTECH, INFY were losers at Nifty till noon.

Indian Economy is on Slowest Growth Path

2013-06-01T17:01:00.001+05:30

The Indian economy has been on slow pace in the fiscal year 2012-13. The GDP rate is at 5 per cent, once the figure was achieved in last decade. There were days when it had been speculated that the country would achieve the double digit growth rate. Now the scenario has been just reverse to that, the growth rate is at 5 percent rather achieving 10 per cent.

The headline inflation and the key interest rates have hampered the growth rate. Adding insult to injuries, the sectors and industrial index were never upto the market in boosting the economy. The IIP was seen in negative and zero, manufacturing sector was seen helpless in heightening Indian economy.

The year 2012 was full of macroeconomic problems for the economy. And the economy was battling against the high inflation rate, which once was touched to double digit.

The slow growth rate would be a big challenge for the UPA coalition government to tackle. However, the headline inflation was seen moderating in the April 2013, which made the Reserve Bank of India to cut the interest rates, ultimately the impact was loud and clear on the equity market in India.

The stock market was achieved the psychological mark of 20,000 and retained the confidence of the rattle investors, those were in concern due to slow growth rate and de-railing economic reforms in India.

The major concern for the UPA government is that it has limited time to revive the economy or act fast on the economy reforms. In 2014, the nation would witness the mega polls. The government would try to revive the economy before it approaches to the voters and it will also try to have some good ranks to its report card.

More Women City Buses in Bhuabaneswar

2013-05-31T10:03:00.001+05:30

Good news for the women commuters in the capital of Odisha – Bhubaneswar. The government has decided to start dedicated city buses for women in the city. If everything goes as per the plan then the launch of the city buses for women could be possible by June first week.

In this regards the Bhubaneswar Puri Transport Services Limited has completed design and branding of the two proposed city buses of women. Recently the government has started two city buses for women in the capital.

DTS has been plying city buses in Bhubaneswar helping many commuters to reach their destinations in the city. Prior to the city bus services in Bhubaneswar, commuters were depending on auto vehicles. The city bus services have been successful in many aspects connecting many places and commuters daily.

The introduction for two new dedicated city buses especially for women would help them reaching their places securely.

Srinivasan to quit as BCCI President?

2013-05-31T09:42:00.002+05:30

The cricket politics has been floating in the country after the successful ending of the IPL 6 in India. The tournament was a big success hanging career of some players and chief of organization. Some players were being arrested and in custody for spot fixing and some believe that the roots of fixing games could me deeper than expected. New Delhi police have been investigating into the matter further, and everyday there has been updated adding to the issue.

Pressure has been mounting on the existing BCCI chief N Srinivasan as his son-in-law and Chennai Super Kings principal Gururnath Maeiyappan was alleged in the spot fixing. The cricket politics is active as the tournament is complete and leaders involved with the gentle men have been started making their version over the issue loudly and clearly.

Media have reported the versions of the leaders Sharad Pawar, Jagmohan Dalmiya, Jyotiradiya Scindia, Rajiv Shukla and Arun Jaitley over the issue. It is believed that ball is in the court of Srinivasan to step down as the chief of BCCI. However, Srinivasan had told media that he won’t be leaving the position.

If the electoral process is being taken into consideration for impeaching the BCCI chief, then it would be a big number game and the leaders of various cricket boards and association would participate and decide about the matter.

According to some media reports, few boards in the BCCI were in favor of Srinivasan and the number game in the cricket politics to decide the fate of the existing BCCI president.

Petrol, Diesel Price to Go Up from June 1

2013-05-30T09:31:00.001+05:30

The price of petrol and diesel would go up by Rs.1 and 0.45 respectively from June 1, according to media reports. The state run oil companies have been reviewing the price every fortnightly. Recently the devaluation of rupees against the US dollar could be the major reason behind the hike in the prices.

Since the petrol and diesel prices were deregulated, the price of these goods in the domestic market has been changing in compliance with the international crude price. Due to the high value of dollar against Indian rupees, the crude price becomes dearer for Indian oil firms.

In order to reduce the loss due to the devaluation of rupees, the oil firms are bound to raise the price and the direct burden would be on the consumers those are the end buyers at retail rate.

On the flip side, the price of petrol and diesel were cut couple of months ago due to the decrease in the crude price at the international market. However, the consumers would be need to pay more for the petrol and diesel from June.

And the prices may go down again if Indian rupees become stronger in the currency market.

BJP expels Ram Jethmalani for Six Years

2013-05-29T16:58:00.001+05:30

The Bharatiya Janata Party (BJP) has expelled the senior leader Ram Jetmalani for six year for various reasons on Tuesday. The president of BJP Rajnath Singh took the decision to expel Jetmalani for six years from the party.

According to media reports, the parliamentary board of BJP had taken unanimous decision over this.

Reacting over the expulsion from the party, Ram Jetmalani told media that he would continue his fight against corruption in the party. He is the currently a member of Rajya Sabha.

Jetmalani had raised the corruption issue in the party and opposed the second term for the then party president Nitin Gadkari. It is noteworthy that many corruption charges were reportedly levelled against Nitin Gadkari, which said to be as the major cause of not getting elected for the second term as Party President.

Due to the corruption issue only the BJP recently lost its only government in the southern India – Karnataka in the assembly elections. The BJP is gearing up for the mega polls for 2014 and might be trying to sort out the internal differences by taking some core decisions. And expulsion of Jetmalani was believed to be one of the toughest decision for the party.

Social Media is an addiction

2013-05-29T09:30:00.000+05:30

Social media arena has been growing in many folds of late. Young generation may stare at you as if you’re an illiterate – if you’re not aware of social media sites like Facebook, Twitter, Google Plus and many more.

The availability of social media sites on mobile phones gave free to all to reach and explore these social media sites.

The prime aim of being social media is to be social and the beauty of these sites is there is no relationship to define but Friend.

There you’ll find freedom to call whatever the actual relationship one has the other profile, but you can call him or her friend. Even in some profiles, father is called friend on Facebook, strange but true.

Coming to addiction part of the social media sites, being available on all the gadgets including the mobile phones those are common in use, many have become addicted to these. There are many symptoms to recognize an addiction, and the addiction of social media sites would also be identified.

The foremost sign of addiction is, one becomes feeble or feel like lost something if he or she not get any update from friends on his profile. Starts tilting the possible phenomenon, what could be the reason of not getting any updates to profile?

In fact, in some days there won’t be anything to share with your friends, but who is addicted may take this version very different and dramatize the episode.

Another symptom could be often checking the profile time and again, some do check their profile every minute, and obviously they have nothing to do with that profile during other time.

These sort of symptoms or signs are indicating that we are leaning towards the path addiction, which could cost more personally.

Using social media and getting connected with friends or online profile is good, but remembers excess of everything is very bad.

Before it become daunting task to get-rid off, start minimizing the usage of social media so that it would toll on by taking shape of addiction.

Choose Batting or Betting

2013-05-28T09:00:00.000+05:30

The scam in IPL spot fixing has puzzled many fans across the world – whether to like the Batting or Betting. The game is known for the simplicity and glamour, where Sachin Tedulkar is considered as God of Cricket, finally seems fading its color due the betting instead of batting.

Most of the cricket lovers like batting, would like to see a batsman scoring 100s, 50s in the score board. But when the betting over rule the genuine form of cricket leaving fans mesmerizing - what is all about the betting instead of batting.

Officially it is the bad practice and a gambling illegally. What about if it could be legalized? Well, in a country having second largest population, there it sounds simple impossible. Because law can be enacted easily but it will be hang in balance when it comes implementing it practically.

According to some reports, the international don Daud Ibrahim was the master mind in the spot fixing scam, it might be because IPL is not only game to entertain or show the first class cricket rather to show & exhibit the money power it has.

From the auction to dance of the cheer gals, all are the act of money. Somewhere, it was mentioned that a six or four in the IPL match may cost around some lacs. If that aspect is taken into consideration, then the profit from the IPL would be in some hundred crores.

If the players have been paid huge amount the play the matches by the franchise owners, then why do they getting into spot fixing? Is there any other reason apart from money to result the fixing, betting of IPL matches.

Whatever may the cause be, it is enough to fade the charm of the IPL matches. It simply converted into Batting into Betting.

People in favor of NDA: Survey

2013-05-27T09:19:00.001+05:30

The Zee Media Studies has conducted a survey about the current political scenario in India and they are going to choose which party to rule the country. Around 12,000 responded have participated in the survey, most of them choose the National Democratic Alliance (NDA) to back to power in the next general election.

The UPA II has completed it four years tenure in the centre for the second time and it is on the way to complete it tenure by 2014. Most of the respondents also agreed that the UPA II government would complete it tenure.

If the survey taken in to consideration, then in the election NDA would be getting majority to form the government and Narendra Modi was the prime chose among the other candidates for the top job.

Around 45 percent of responded have voted in favor of Narendra Modi as the Prime Minister of the India. While 10 percent of the respondents have selected L K Advani . Interesting few other have also selected some industrialists as the Prime Minister candidate, as they would like to top industrialists for the best job in the country.

Coming to the NDA, the coalition may become stronger after projecting Narendra Modi as the Prime Minister. However, there may be difference among coalition parties in NDA over the PM projection.

Few leaders do believe that projecting Naredra Modi would bring Hindu voters together as it was happen after the Ram Janam Bhumi issue. BJP and its allies may get the majority of Hindu votes upon projecting a strong saffron leader as the Prime Minister candidate.

However, election is an uncertain game for all, where projection could be right some time but may times the voters swing could not be conjecture.

Naxal Attack on Congress convoy in Chhattisgarh

2013-05-26T09:55:00.000+05:30

As many as 12 Congress partymen were killed in a deadly attack in Bastar district of Chhattisgarh by the naxal outfits on Saturday night. The famous leader of Congress party and founder of Salwa Judum, a movement against naxal outfits, Mahendra Karma was killed in the attack.

The former chief minister Vidya Charan Shukla was seriously injured in the attack. According to media reports, hi s condition was said to be critical. After the attack Shukla was rushed to Jagdalpur hospital and from there he flew to Raipur.

The Congress leaders convey was on the way to Jagdalpur after having a meeting – Parvartan Yatra in Sukma. The Chief Minister Raman Singh discussed about the attack in a meeting called later in the evening on Saturday.

While was reported that some leaders were abducted by the naxals on Saturday after attacking on the Congress convey in Bastar.

Nine CEOs Who Are Stripped Off From Their Thrones

2013-05-24T13:48:00.002+05:30

The recent CEO calamity has again warmed up the discussion about judging the ability of CEOs of major corporations. The founders’ traits are the most important pillar of a company and its reputation and as one of the Professors of University of Tennessee says – monopoly "can lead to behavior that is inappropriate."

We brought you the stories of some such CEO, who are stripped off from their thrones due to some such traits. Ok! Let’s start with the recent ones –

Phaneesh Murthy, iGate – The news is still afresh in most media channels as the former CEO of iGate is being trialed for sexual harassment case in iGate. Phaneesh Murthy, an IIT-IIM alumni and an Indian tech businessman, had grown into one of the eminent personalities of International Tech industry. But with the harassment case on neck, he is now stripped off from the CEO position.

Fall of China’s Sun King Shi Zhengrong – Founder of China’s largest solar-power maker Suntech Power Holdings Co Ltd, Shi Zhengrong, also known as the Sun King of China, had a tough 2013 when he was been forced by Suntech Board to step down from CEO post. Suntech has a debt of US $2.2 Billion debt and recently filed Bankruptcy protection.

Carol Bartz, Yahoo – After been assigned the CEO of Yahoo, Carol applied the cost-cutting approach and some new direct approaches in work. The implements were seemed right but risky and predicted the destruction of Yahoo. Even Carol promised that Yahoo will revive and needs a bit of time; Yahoo never regained its popularity during her tenure. At last she was fired from her post.

John Browne, British Petroleum – A famous name in Britain, John Browne was insisted into the CEO post of BP to mark the ‘green’ energy brand. John Browne was forced to stand down from CEO position after the allegations about his relationship with his male partner and of misusing the company funds. While it was previously state that he will resign from his post in 2008, he was forced to resign in 2007 after his romantic life got public in newspapers.

Leo Apotheker, Hewlett Packard – Even failing at SAP with strategic decisions, Apotheker had been appointed as CEO of HP in a crunchy condition. HP’s fate never changed under Apothker and its stock value declined by 40% during his tenure. At last he was forced to resign and replaced by ebay’s Meg White.

Harry Stonecipher, Boeing Co – Surrounded with many scandals from its previous employment, Harry joined Boeing Co. giving up his retirement life. Under his tenure Boeing Co. did see good days, but his relationship with a Boeing employee had shown him the way out. Boeing Board directors requested him to resign in 2005.

Mark Hurd, HP – After his relations with TV reality actress Jodie Fisher were public, the then Hewlett Packard CEO Mark Hurd was voted to left the position and the company. The decision has been criticized by many, as Mark Hurd was the finest CEO for HP and revived it in short period.

Kenneth R. Melani, Highmark – One of the finest and powerful health insurance executives in USA, Kenneth has been terminated from the position of CEo of Highmark, due to the allegations of domestic dispute and criminal trespass. After Kenneth left the company, the credit rating of Highmark declined drastically.

Richard Grasso – Former New York Stock Exchange (NYSE) CEO Richard Grasso resigned under the pressure of the then New York government. He had been forced to resign from his position in the allegations of $140 million NYSE compensation pay package controversy.

BSE Sensex tanks below 20k

2013-05-23T17:42:00.000+05:30

On Thursday, the Bombay Stock Exchange index Sensex tanked below 20,000 marks and the National Stock Exchange Nifty was also posted biggest percentage. The BSE Sensex closed at 19,674.33 shedding 387.91 points, or 1.93 per cent and broad-based Nifty closed at 5,993.90 points losing 127.45 points, or 2.09 per cent.

The stock market in India witness nose dive due to the poor quarterly report presented by the State Bank of India and possible cut in the stimulus packages by US Federal Reserve. The last week the BSE Sensex was gained around 500 points in a day, the biggest gain for the month. And the fall recorded on Thursday was another big fall witness. The sentiments of the investors were also rattled due to weak China manufacturing survey.

On the other hand, in the bullion market, the yellow metal was being seen at price fluctuations and similar case with the silver at the international market. The poor performance report by the State Bank of India for the quarter ending March has hit the sentiments of the investors, as the market started tumbling after the report was out.

It might take some time for the stock markets in India to recover from the posted loss on Thursday, as only hope if the RBI would go for further cut in the key interest rates as the headline inflation was seen moderating.

Samajwadi Party to Skip UPA II Dinner Party

2013-05-22T17:11:00.001+05:30

Samajwadi Party, which extends outside support to UPA government, has decided not to attend the UPA II dinner party tonight. The dinner party is being hosted to celebrate the 4th anniversary of the UPA II government at the center; the Prime Minister would be meeting the key allies and supporters of UPA II government today evening at dinner.

The senior leader of Samajwadi Party Naresh Agarwaal said taht their leader would not attend the UPA II's 4th anniversary dinner party. The BSP Supreme Mayawati likely not to attend the party of UPA II, however there was no official confirmation over this from the party. The UPA government has completed the 4 years successful term at the centre for the second time.

The second term of the UPA government was full with scams and controversies; those gave opposition parties to grill the government on many issues. And this could be the major reason of Samajwadi Party boycotting the dinner party.

Some key allies in the UPA coalitions might not be happy with the scams and performance of the government in tackling those. The country will go for the mega polls next year and the parties have been started their implementing the strategies to reach their voters.

It is noteworthy that the Samajwadi Party chief Mulayam Singh Yadav had strongly criticized the UPA government over the incursion of Chinese Amy into Ladhak region.

Justdial IPO fully subscribed

2013-05-22T16:38:00.001+05:30

The local search engine, Just Dial has set a milestone in its business empire as its initial public offer (IPO) was oversubscribed on Wednesday by 1.94 times at the National Stock Exchange (NSE).

According to media reports, the company Justdial has issued IPO worth 950 crores, having the fixed issue price at Rs 470-543. The company’s IPO received bid of more than 2.63 crore shares against offer of 1.35 crores at the NSE.

Just Dial has also given a discount to attract more customers and also reportedly assured to buy back the shares if the markets price of the shares goes down during the scheme period - 'safety net'. That would be for the retail investors holding the stocks of the company. However, the company has also some limitation on buyback scheme that read it is subjected to a maximum of 1,000 shares per allottee.

In February 2011, the Bollywood actor Amitabh Bachchan had agreed to pick up about 63,000 shares at Rs.10 of Just Dial, now his investment in the company would worth Rs. 3.4 crore. He is also the brand ambassador of Just Dial, as he signed contract for three years with the company that would expire by December 2013.

Around 89 per cent of the IPOs were subscribed by the qualified institutional buyers.

Gold Price Plunges to 31 Months Low

2013-05-21T16:37:00.002+05:30

The gold price tumbled tumble to 31 month low on Monday, the first day of the week, due heavy selling by the stockists. The weak cues from the foreign market had hit hard on the sentiments of the investors those were anticipating a gain from the safe investment yellow metal – gold.

The equity market in India has been signing and the investors have been confident getting around five to six per cent guaranteed income from their investments in the stock market. But when it comes to investing in the gold, rattled investors due the fluctuation in the price have been keeping looking other safe alternative portfolios instead of the gold.

In India the gold price was at Rs 26,370 per 10 grams on Monday and sliver was also being sold at price of Rs 42,170 per kg. The gold and silver prices were declined by Rs330 and aRs1530 respectively. Recently, the people of India had purchased good ornaments and gold coins on the occasion of Akshya Tritia on May 13, 2013. The day is being considered favourable to purchase good, which would bring fortune to them.

At the end of 2013 and beginning of 2013, the gold was traded at highest prices and was considered as safest investment. But the mid of 2013 has brought the gold to 31 months low prices and the further weak signal from the foreign markets could plunge it further to a new low level.

Considering possibility of further slip in the gold prices, traders and investors have been waiting a good call to purchase and hoard the gold for future trading.

Updated News:
On Tuesday, the gold price recovered from the steep fall recorded on Monday, the gold price went up by Rs.Rs 680 to Rs 27,050 per ten grams in the bullion market.

Smartphone is a Necessity?

2013-05-20T19:59:00.001+05:30

Economics teaches ‘human wants are unlimited and one want is satiable’. Is this definition about wants fit into the modern Smartphone market? Are the users are happy with one Smartphone of late? Technology has been taking a big leap into revolution that is likely to change the lifestyle of civilization in coming days.

There are many smart phones are available in the market leaving consumers in a puzzle over their preference. All the gadgets have unique features to attract their consumers and provide them the best user experience. Users do like the many features combinations in a single handset.

The common and basic features like GPRS, GPS, Bluetooth, USB adaptability are with the even ordinary or common mobile phones today, what makes the Smartphone so special about?

Of course, the phone is being primarily considered for voice call, which is the basic operation of the product since it is invented. Do the development of next generation Smartphone changed the basic requirement concept?

The basic requirements of mobile users have been changed with the advancement of the mobile technology or the software that enables the phone to function. Users might not take the phone by paying huge price – only to make calls from that costly gadget. They look for special features in that which could make them more production and stay connected with their profession as well.

No doubt that the latest gadgets have been helping the younger generation more productive and active and the market have been transforming into giant market that was never experience before. And the Smartphone has been a part and parcel of life for the users having big responsibilities.

And the fact also can’t be denied that some of the other users do have these for only fun. That was event from the Blackberry advertisement – we do chat, we do mail …… blah…. blah…

Technology has been changing and shaping our life, and the role of smartphone is minimal, which seem to be become a necessity for all the users irrespective of their status and age.