Energy, Enterprise, and Economy

India, China experience entrepreneurship boom
Business Standard

More and more skilled people from countries like India and China are increasingly returning home from the US, which has led to an “entrepreneurship boom” in the two Asian countries, a new report said today.

The report ‘The Grass is Indeed Greener in India and China for Returnee Entrepreneurs’ of the Kauffman Foundation in association with the Duke University, University of California-Berkeley and the Harvard University said the current trend has come as a “major loss” to the US.

India explores new path to Iran Oil
The Wall Street Journal

NEW DELHI—India is looking at using Turkish banks to pay Iran for crude oil, a senior Indian oil-ministry official said Wednesday, as a U.S. official said Turkey’s commercial banks should avoid transactions with Iranian banks the U.S. has identified as conduits for financing of Tehran’s nuclear program.

The oil-ministry official’s remarks came as the U.S. Treasury proposed regulations that would require U.S. financial institutions to divulge information about foreign bank customers that do business with Iran.

Asked about the Indian proposal, David S. Cohen, acting U.S. Treasury Under Secretary for Terrorism and Financial Intelligence, said he was unaware of the Indian proposal and therefore was unable to comment. But he said that in general, Turkey’s cooperation with sanctions aimed at pressuring Tehran was “critical.” Mr. Cohen was in Istanbul, where he was meeting with senior government officials and banking executives.

iPad 2 arrives in India on April 29
Business Standard

Apple’s iPad 2, its second-generation tablet PC, will be launched in India along with Hong Kong, Israel, Korea, Macau, Malaysia, Philippines, Singapore, South Africa, Turkey and UAE on April 29. The tablet will be available for a suggested maximum retail price of Rs 29,500 (including VAT) for the 16-GB model at select Apple authorised resellers, from 9 am on the day of the launch.

The PC has been witnessing a drop in grey market sales. An electronics dealer in delhi’s Palika Bazaar told Business Standard, “The buzz about iPad 2’s launch had led to a sharp drop in pre-orders and bookings. While we were selling 6-8 units per week till last month, the sales dropped to 2-3 units per week as rumours of the launch gained momentum.” Dealers in Mumbai and Hyderabad confirmed the drop in sales in the last two weeks. “Indian websites were abuzz with the launch news of iPad 2 and so buyers refrained from buying it from the grey market and preferred to wait for the launch price,” said another grey market dealer in Mumbai.


B-schools to even out placement reporting norms
The Hindu Business Line

Various MBA schools and stakeholders plan to meet in June to discuss reporting standards and make them more transparent, as proposed by IIM-Ahmedabad in October last year.

The necessity for such a meeting came up because more and more aspirants are relying on these reports to make their choices.

“The exact date of the meeting will be announced in the first week of May, after which we will be inviting all stakeholders, including B-schools, companies, alumni, placement chairpersons of the other IIMs and the media to share our experience and take forward the process of finalising the placement reporting standards,” said Professor Saral Mukherjee, faculty and head of the placement committee at IIM-A.


Slow and steady goes the road ministry
Business Standard

Meticulous C P Joshi is triggering comparisons with his predecessor, Kamal Nath, a man of the world.

Early morning last Friday, in a post timed at 7.44 am, one Ramesh Jain wrote a rant against overloading. It was the usual anguish many of us feel on seeing overloaded trucks on highways and toll plazas and the state officers’ connivance in letting them go.

It could have been like any other post on a social networking site, triggering an echo among some of those on the friends list and that would have been that. Jain’s rant, however, was posted on the Facebook wall —yes, it’s there! — of the National Highways Authority of India (NHAI). On the very next working day, there was a reply at 5.12 on Monday evening. “In this regard, instructions from the road secretary have been issued to principal secretaries (transport) and transport commissioners of all the states and union territories to strictly curb the practice of overloading,” wrote Abdul Ali, general manager, NHAI.

John Deere India introduces ‘smart’ tractor in India

The Financial Express

Hyderabad: John Deere India, a subsidiary of US-based Deere & Company and a leading manufacturer of agricultural tractors, has introduced its ‘smart’ tractor, 60-HP tractor model 5060E for the India market.

“John Deere is bringing advanced technology to farmers

in India, helping them to be more productive and cost

effective. This new 60-HP tractor model 5060E offers state-of- the-art features that help customers be more productive and cost effective,” John Deere VP sales and marketing Narinder Ghuman said.

Real Estate

MNCs “gobble up” office spaces in Bangalore; hiring on anvil
The Hindu Business Line

Bangalore, April 27: Multinational companies are on a fast-paced expansion drive in Bangalore, taking up prime real estate space in the city and ramping up headcount.

Sources in the real estate and HR sectors said companies such as Robert Bosch Engineering India, Samsung, Ericsson, Honeywell and Volvo IT are expanding rapidly.

CB Richard Ellis India said in its recent report that almost six million sq.ft of office space was absorbed in key markets in the first quarter of 2011; Bangalore accounted for almost 36 per cent. “Majority of the lease transactions recorded in Q1 were from companies looking to expand their operations,” said Mr Shrinivas Rao, CEO – Asia Pacific, Vestian Global Workplace Services.

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