Wed 16 May, 2012, 4:43 PM IST - India Markets closed

  • Investors’ money in banks is safe: Pranab

    New Delhi: Stating that investors' money in banks was safe, Finance Minister Pranab Mukherjee said Tuesday that the government would take appropriate action if it finds any irregularities in the disbursement of loans by financial institutions.

    "There is no need to press the panic button. I am in touch with the RBI governor and LIC on the matter," Mukherjee told reporters on the sidelines of a conference on 'Economic Policies for Inclusive Development' here.

    "Money of the investors in these institutions is safe and all the appropriate measures will be taken," he said without specifying what action would be taken.

    "It is not possible for me to give details as of now," the minister said.

    The CBI arrested senior officials of LIC Housing Finance, LIC, Bank of India, Central Bank of India and Punjab National Bank last week Wednesday for allegedly accepting bribes to extend loans to corporate houses in a housing finance scam.

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  • New Delhi: French IT consultancy firm Capgemini today said it expects the size of its Indian workforce to grow to about 50 per cent of its total global headcount within the next three to five on the back of organic growth initiatives. The company is tipped to have about 31,000 employees in India by the end of December, 2010, with the net addition of around 11,000 personnel to its payrolls during the course of the year.

    "We expect the local market to grow over 40 per cent this year, which will continue next year. In the mid-term, over the next 3-5 years, we expect 50 per cent of our global workforce to come from India through purely organic growth," Capgemini India Executive Chairman Salil Parekh said on sidelines of The Indo-French CEOs Forum here.

    While gross employee additions by the company during the year stood at 17,000, the net addition was only about 11,000, he added. The company, which offers consultancy, systems integration, infrastructure management and BPO services, has 40

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  • Dabur gives Real image makeover

    Homegrown FMCG firm Dabur India today said it is giving its juice brand ''Real'' an image makeover as part of its strategy to garner a sales of Rs 700 crore from its food division in the next three years. The company said it is now focusing to highlight the nutritional aspect of its juices as against the earlier practice of promoting the brand for taste.

    "Over the years, consumers have accepted the taste (of Real) and loved it. And, now we are educating consumers about the nutrition aspect of our juices.

    Hence, we decided to go for a re-branding," Dabur India Head of Marketing (Foods) K K Chutani told PTI. As part of the exercise, the company has changed the logo and also the packaging of all its Real products. Besides, it has also signed on actress Sonali Bendre to promote the brand.

    While the company did not specify details on the investments for the initiative, it is understood to have invested around Rs 8 crore on the whole image makeover exercise of the Real brand. "Real is a more

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  • Many cos say no to hiring employees’ relatives

    New Delhi: The next time you apply for a position in a company where your relative is employed, there are chances your application may not find favour. Spread across sectors, quite a few entities have policies that bar relatives of employees from being recruited in the same company, according to HR experts.

    "Companies may not want employees to mix their personal life and professional life as this could become a distraction. Family problems or disagreements may affect work culture and also filial or conjugal sentiments may affect professional conduct, impacting work-life balance of members," E.Balaji, Director and President of Ma Foi Randstand, a staffing services firm, told PTI. In many cases, hiring restrictions apply only to the immediate relatives of employees such as spouses or siblings.

    Staffing firm Manpower Services India''s Head (Organisational Learning & Marketing) Namr Kishore said that employment of relatives in the same area may cause series of conflicts and problems

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  • Cash-rich companies to take front seat in recovery

    Investors are looking to cash-rich companies to drive global economic recovery with capital investments at a time when governments are tightening their belts.

    Peaks and troughs of corporate spending cycles serve as an advance indicator for private sector economic activity.

    In past cycles, companies have conducted M&A and capital expenditure -- which come near the top of the cycle -- almost at the same time, as economic cycles matured.

    This time around, there is evidence that companies are likely to spend their excess cash to invest in a more focused, strategic way.

    Some have started buying other companies, while many still prefer to use cash to repair balance sheets rather than to expand existing businesses or hire more staff, given the uncertain outlook in advanced economies.

    At the same time, those under pressure to deploy cash have already boosted capital expenditure in emerging economies whose rapid growth allows spare capacity to be utilised quickly.

    For many investors, companies

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