CORPORATE NEWS

1) Google to float helium balloons over rural India for internet connectivity:Google will float helium balloons over rural India for Internet connectivity if an experiment testing the concept yields promising results. The plan is to have several balloons floating around the earth at an altitude of 20 km, or twice the height at which commercial aircraft fly, and beaming connectivity to rural areas. Special equipment that can be fixed on the roofs will communicate with the balloon. The balloons are 15-m-wide balloons and it can stay in the air for 100 days. Analysis:This shows that the Project will help in providing affordable Internet access in remote and rural parts. On the other hand, Google, whose business prospects are directly related to the number of Internet users, considers the balloon solution as an audacious project bordering on science fiction.

2) Walmart India President Raj Jain quits, Ramnik Narsey steps in:US retail major WalMart has announced a top level change in its Indian operations with President Raj Jain being replaced by Ramnik Narsey with immediate effect. Narsey is currently Senior Vice-President for Walmart International. Jain had joined Walmart in 2006 and was named head of Walmart India in 2007. During his tenure, wholesale cash-and-carry joint venture with Bharti Enterprises, back-end services and consulting businesses were established. Analysis:This shows that Ramnik will bring significant management and leadership experience to the role. Jain's removal comes in the backdrop of investigations by Walmart over allegations of corruption against it in foreign markets, including India.

3) Mahindra Satyam merges with Tech Mahindra:Software company Mahindra Satyam became a part of history after it was formally merged with its parent Tech Mahindra to create the country's fifth

largest software services firm. The Mumbai-headquartered company now has an employee strength of 84,000 serving 540 clients across 46 countries.Its revenues are at $2:7 billion. The combined entity now has 11 locations in India and 15 overseas for BPO operations and software development. Analysis:This shows that they will continue to focus on telecom and manufacturing industry. Even they worked through the statutory and legal issues, their teams worked closely on the ground to integrate processes, eliminate overlaps, leverage best practices and deliver enhanced value to all shareholders.

4) Champions Trophy win boosts cricket's image in India:Indian skipper M S Dhoni became the first Indian captain to win all three ICC trophies - the World Cup, the World Twenty20 and now the Champions Trophy. The final was held on Sunday, June 23. Last month, Indian cricket witnessed what some said was its biggest crisis ever. But the latest win seems set to rejuvenate cricket all over again. The run-up to winning the Champions Trophy also saw the emergence of new cricketers as brands, Shikhar Dhawan being the most prominent among them. Analysis:This shows that the victory seems to have come at the right time by consistent performance for Team India and skipper M S Dhoni. At least for a short while, they have silenced their critics. And for brands which are in search of new celebrities, there is a new star on the horizon - Shikhar Dhawan.

5) Ratan Tata to be chief adviser to AirAsia India board:Ratan Tata will be the chief advisor to the board of AirAsia India, the joint venture between the Tata Group, Malaysian low-cost carrier AirAsia and Arun Bhatia, a close relative of steel magnate Lakshmi Mittal. Both Bhatia and AirAsia Group CEO Tony Fernandes had expressed keenness in roping in the former Tata Group chief as board chairman of AirAsia India. Ratan Tata retired as chairman of the Tata Group upon attaining the age of 75 on December 28 last year, as per the groups policies. Analysis:This shows that the new chairman is someone who has redefined many parts of India. He is legend in every sense and building a powerful team. A towering man who brings unbelievable experience to the Airasia India board. AirAsia India shaping up brilliantly.