Miscellany

Miscellany

With Binani buy, Ultratech firms up position in cement market

With the Supreme Court on Monday upholding the NCLAT decision to approve Binani Cement Ltd’s sale to UltraTech Cement Ltd for Rs 7,900 crore, the latter, which is already the largest cement manufacturer in the country, seems well set to further strengthen its position in the Indian cement market. The NCLAT had last week decided in favour of UltraTech Cement as the winning bidder. While upholding the NCLAT decision, the apex court has dismissed a petition by competing bidder Rajputana Properties Ltd owned by the Dalmia Bharat Group.

What makes Indian managers a hit worldwide

With the success of Satya Nadella at Microsoft, Sundar Pichai at Google, Indira Nooyi at Pepsi and others of their ilk, stories of Indian managers making it big overseas is now less surprising news for people back in India.

But, ask the question what makes the Indian professionals such a hit worldwide and one may have to keep waiting for an affirmative answer. Answering the question, while making a worthy attempt to crack the illusive code, is a new book, aptly titled The Made-in-India Manager.

E-COM POSTER BOY FLIPKART STARES AT MASS EXODUS

Something is not quite right at the country’s e-com rockstar, Flipkart, after it hit a $16 billion Walmart jackpot in May this year.

If sheer data is anything to go by, over 6,500 employees of Flipkart and its subsidiaries, including Myntra, Jabong, PhonePe and Ekart, are actively job hunting on the country’s top notch career site, Naukri.com. That means, more than 20 per cent of the company’s total employees -- over 30,000 -- are exploring career prospects outside Flipkart.

Intel sets up Rs 1,100 crore design centre in Bangalore

The US microchip major Intel has set up its latest state-of-the-art design house in Bangalore at an investment of Rs 1,100 crore.

Extending Intel’s R&D pr­e­sence in India, it will house technologists who work on cutting-edge engineering across hardware and software.

The design facility was inaugurated by Manoj Sinha, minister of state (IC) for communications and minister of state for railways and Bob Swan, CFO and interim CEO of Intel Corporation.

CAR of Allahabad Bank, UCO, IDBI, CBI fall below 9%

Profitability of public sector banks has been impacted by higher loan loss provisions due to ageing of bad loans, mark-to-market (MTM) provisions and lower contribution from treasury income. While the large PSBs showed sequential improvement in slippages, the performance of banks under the RBI’s Prompt Corrective Action (PCA) remained weak and they continued to report losses for the second quarter ended September 30, 2018.

Companies betting big on AI knowledge to further growth

The Technology hiring landscape globally, and in India, is currently witnessing a huge churn of talent, owing to the advent of digital and automation technologies that are deep and disruptive in nature. As traditional IT roles vanish, companies are betting big on artificial intelligence (AI) and other deep tech areas to further growth. By 2021, approximately 75 per cent of enterprise applications will use AI according, to a report by IDC.

BJP’s star from K’taka passes away

The Bharatiya Janata Party faced a morale set back with its most prominent and active leader, who made an indelible mark both in Karnataka and national politics, suddenly leaving the scene.

ISRO calls for global proposals to carry experiments on Venus mission

ISRO has invited proposals from the international scientific community to carry out novel experiments on its planned Venus mission, scheduled to launch in 2023, the space agency said.

The call presents an opportunity for scientists from foreign space agencies, research laboratories and academic universities to study Venus, the Indian Space Research Organisation (ISRO) said in a statement.

Venus is often described as the “twin sister” of the Earth because of the similarities in size, mass, density, bulk composition and gravity.

Twitter CEO assures India on capping fake news

In the wake of the growing criticism over Twitter’s role in spreading misinformation and fake news ahead of five assembly polls and general elections next year, Jack Dorsey, chief executive officer and co-founder of the micro-blogging site, on Monday spoke about his company’s willingness to curb spreading of fake news in India.

Dorsey is on his weeklong maiden visit to India.

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