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Snapshots_2008_Business_and_Economy

Snapshots_2008_Business_and_Economy

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GK Updates-2008
1
Snapshots-2008-Business and Economy
\ue000 Bharti Retail, a subsidiary of Sunil Mittal promoted Bharti Enterprises, opened its first store \u201cEasy Day\u201d in
Ludhiana.
\ue000Argentum Motors, which acquired the production facility of the former Daewoo Motors, signed a memorandum
of understanding with software solutions provider Dassault Systems for designing and engineering of engine
components for global automotive original equipment manufacturers (OEMs).
\ue000The Sachin Tendulkar-led Mumbai Indians have roped in Bollywood star Hrithik Roshan as theirb r an d
ambassador to drum up support for the team.
\ue000 Sun Pharma\u2019s $454-million proposal to acquire Israeli-drug company Taro Pharmaceutical received a shot in
the arm, with the Tel-Aviv District Court rejecting Taro\u2019s contention that Sun should conduct a \u2018special tender
offer\u2019 under the Israeli law. Taro had terminated Sun\u2019s acquisition proposal, a year after it had been formalised.
\ue000Mobile subscribers will soon be able to change their operator without changing their phone number. Despite
opposition from operators, the Minister of Communication, A. Raja, has announced the introduction ofMo b i l e
Number Portability (MNP) in phases. Starting with the four metros, the facility will be implemented across the
country in a year.
\ue000The Gitanjali group has decided to create a special trophy, embellished with diamonds and rubies, to mark 25
years of India's cricketing glory to commemorate the 1983 World Cup win and to honour the heroes of 1983.
\ue000Coffee makerSt ar b u c k s has launched a new music label calledHear Mu s i c.
\ue000 SatNav Technologies, Hyderabad based leader in geographic information systems, has launched a \u2018Citizen
Mapper\u2019 programme, in which customers or lay users can help to upgrade its maps of different cities across the
country, adding information about new Points of Interest (POI).
\ue000Titan Industries has re-entered the kids watch segment with its latest offering Zoop. Nearly a decade ago, it
had first tried to tap the segment with brandDas h, which was later discontinued.
\ue000Religare Enterprises, promoted by erstwhile Ranbaxy promoters Malvinder and Shivinder Singh, has tied up
with India\u2019s ace golfer Jyoti Randhawa for brand association.
\ue000Anand Mahindra, 53, Vice-Chairman & Managing Director of Mahindra & Mahindra and a Harvard Business
School (HBS) graduate (Class of 1981), was recently a recipient of the 2008 HBS Alumni Achievement Award
for leadership.
\ue000Germany will not force Indians working on contracts of up to four years in that country to pay social security
tax provided they continue to make such contributions back home, according to an agreement reached between
the two countries recently. The agreement will benefit 10,000 Indians employed in Germany and nearly 5,000
Germans working in India, said Overseas Indian Affairs Minister Vayalar Ravi.
\ue000Lakshmi Niwas Mittal, Chairman and CEO of Arcelor Mittal, was elected as Chairman of the World Steel
Association, representing about 180 steel producers from across the globe. The association recently changed
its name from International Iron and Steel Institute.
GK Updates-2008
2
\ue000India\u2019s largest commercial bank, the State Bank of India, which has assets of over Rs 7 lakh crore, was ranked
57th in the list of the world\u2019s Top 1,000 banks this year, by the UK based banking publication The Banker.
\ue000India\u2019s direct tax collections increased to Rs 1,47,197 crore in first half of the current financial year, compared
to Rs 1,11,055 crore in the corresponding period last year. Within the direct tax basket, collections from
corporate tax went up by 35.65 per cent.
\ue000\u2018iPiaceri Del Caffe\u2019 the Italian range of coffee, which means 'the pleasures of coffee', has been introduced

acrossBar i s t a's 150 outlets throughout the country. Barista, owned byL av azza, Italy's largest coffee company, unveiled the international range of coffees through an interactive brewing session by Lavazza's Master Brewer \u2018Francesco Viarizzo\u2019 in Mumbai.

\ue000Linc Pen and Plastics has roped in Shah Rukh as its brand ambassador.
\ue000Home decor and lifestyle products company, Rosebys Interiors India, has roped in Soha Ali Khan as the
company's brand ambassador.
\ue000TheCo n g r es s has decided to hand over its election campaign strategy to Crayons Advertising, which beat
JWT to bag the account estimated at over Rs 150 crore.
\ue000Lee Cooper has launched its \u2018Make History\u2019 campaign in which contestants have to click a photo, give it a
caption and upload it onw ww. mak eh istory - a p. com. The winning entry will be awarded $40,000.
\ue000Bharat Forge, the flagship company of the $2.4-billion Kalyani Group and supplier to the automotive and capital
goods industry, has signed a Letter of Intent (LOI) with the Indian Institute of Technology, Bombay (IIT-B) for
creation of an M.Tech Programme for its employees.
\ue000The West Bengal Government has granted the Agriculture Produce Marketing Committee (APMC)l i c en c e
to the German wholesale major Metro Cash & Carry India.
\ue000Luxury car makerB en t l ey has introduced its Continental Flying Spur which the company claims to be the
world\u2019s fastest car, in India recently. The Flying Spur is a four door luxury saloon which can run 322 km/hour and
will be sold at an approximate price of Rs 2.5 crore
\ue000Splash, the high street fashion brand of Dubai-based Landmark group, has launched its first store in India
recently. Headquartered in Dubai, Splash retail\u2019s footprint spans seven countries with 78 Splash stores and 66
branded boutiques.
\ue000Nokia India has announced its association with Bollywood actor Priyanka Chopra in the company\u2019s new ad
campaign with the tagline, \u201cIt\u2019s not just a phone; it\u2019s who we are\u201d.
\ue000Nuclear Power Corporation of India Ltd (NPCIL) has short-listed four reactor vendors - Areva NP of France,
GE-Hitachiand Westinghouse Electric and Russian firm Atomstroyexport for new Light Water Reactor
(LWR) capacities NPCIL is looking to set up \u201cNuclear Parks\u201d or reactor clusters, each with a capacity to house
up to eight reactors of 1,000 MWe (mega watt electrical) or six reactors of 1600 MWe at a single location.
\ue000DTH service provider Tata Sky has announced the launch of its PVR service. Branded Tata Sky + (Tata Sky
Plus), the personal video recorder (PVR) service implies that users need no longer worry about missing the
programme of their choice or give up watching it if a family member wants to watch another one.
GK Updates-2008
3
\ue000Tata Motors has picked up a majority stake in Norway-based Miljo Grenland/Innovasjon, which specialises in
developing solutions for electric vehicles.
\ue000The Government has awarded the Rs 1,000-crore \u2018Passport Seva Project\u2019 contract, entailing digitisation of the

entire passport services, to Tata Consultancy Services (TCS). While the Ministry of External Affairs (MEA) would continue to perform the sovereign function such as verification and grant of passport, all peripheral activities would be done by TCS.

\ue000 NIIT has announced the launch of \u2018NIIT eGURU\u2019 solution, a package targeted at schools. The products and
solutions suite includes \u2018Interactive Classrooms\u2019 for teachers, \u2018Math Lab\u2019 and \u2018IT Wizard\u2019 for students and
\u2018Quick School\u2019, an education resource planning solution for school management.
\ue000The country\u2019s first exclusive aerospace SEZ (special economic zone), Aerospace Park, would come up in
Andhra Pradesh. Dr Kota Harinarayana, an eminent aerospace scientist, heads the Advisory Group for

implementation of the SEZ, which would focus on manufacturing of defence, aerospace and commercial aircraft components. The SEZ would be developed by Samuha Group that supplies various components to the aerospace industry.

\ue000Alok Industries\u2019 group company Grabal Alok UK Ltd\u2019s retail chain \u2018Store Twenty One\u2019 is partnering with
Woolworths to open its stores (shop-in-shop) in 16 of Woolworth\u2019s high street stores.
\ue000Piaggio Aero Industries of Italy has appointed Tata Air to be the exclusive distributor of the P.180 Avanti IIfor
SAARC region.
\ue000The ubiquitous post offices would now start selling gold coins. India Post, Reliance Money and World Gold
Council (WGC) have announced a strategic tie-up under which gold coins would be sold in little over 100 India
Post outlets in the pilot phase.
\ue000Lifestyle International Ltd, part of the $2-billion Dubai-based Landmark Group, is looking at taking the total
number ofL i f es t y l e stores across the country to 35 and Home Centre stores to 25 in the next three years.
\ue000The Rs 950-crore Parle Agro is entering the pure juice category with a new brand \u2014 Saint Juice. Targeting the
upwardly, slightly older, health conscious urban consumer, the beverage major, with brands such asFr o o t i and
Appy, would be adding Saint Juice as the third brand to the beverage portfolio.
\ue000The Future Group CEO, Kishore Biyani has announced the opening of eight stores under the company\u2019s new
format,Et h n i c i t y, across major cities.
\ue000Sangham Radio, the country\u2019s first rural community radio station, went on air at Machnoor village in Medak
district of Andhra Pradesh. It is facilitated by and licensed to the Deccan Development Society, an NGO
working in the Zaheerabad region of Medak District.
\ue000Odyssey, a wholly-owned leisure retail arm of the Hyderabad-based media group Deccan Chronicle Holdings
Ltd, will soon launch vending machines to dispense book and music albums.
\ue000India\u2019s largest IT services provider Tata Consultancy Services (TCS) beat business process outsourcing
(BPO) majors like Genpact and IBM to acquire the back-office operations ofCi t i g r o u p for $505 million (over Rs
2,400 crore).

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