1. Wipro Appoints TCS Veteran Abid Ali Neemuchwala as COO
Wipro’s hunt for a Chief Operating Officer is over. Abid Ali Neemuchwala has been appointed as the company’s new Group President and COO. He was earlier with India’s largest software services firm, Tata Consultancy Services. Read more.
2. Myntra, Jabong eye fatter margins; prefer private fashion labels over other brands
As pressure builds on online shopping retailers to turn profitable, websites like Myntra and Jabong are pushing fatter-margin private labels, especially the relatively new brands with which they have special arrangements, according to an The Economic Times report. Read more.
3. DLF takes to discounts to woo buyers
One of India’s biggest real-estate companies, DLF has launched a mega discount sale to woo buyers. As part of the DLF Spring Festival, the company is offering discounted properties in 16 of its projects across cities like Delhi, Bengaluru, Chennai, Kochi, Lucknow, Panchkula, Bhubaneswar, Kasauli and New Chandigarh. The special discounts will be valid until March 31, Business Standard reports. Read here.
4. China’s TCL to build factories in India, Brazil
Times of India reports that one of the world’s largest television and mobile handset manufactuers, China’s TCL Corporation is looking to set-up factories in India and Brazil in 2016. The move is meant to overcome high-import tariff in these fast-expanding markets. Read here.
5. Taj sharpens its luxe appeal
Mumbai is all set to get a third Taj luxury hotel in the next few weeks. The Indian Hotel Company (IHCL) is expected to throw open the 279-room new property, less than a few hundred metres away from the domestic airport terminal 1C, as reported by the Business Standard. Read here.
6. The urgent need for fast bankruptcy
Economist and policy veteran Omkar Goswami writing for The Indian Express talks about the immediate need to reform India’s bankruptcy laws. He highlights a number of new amendments to update bankruptcy processes. Read here.
7. Telcos may face funding blues; interest burden, cash drain make domestic lenders jittery
Leading domestic lenders like State Bank of India are worried about disbursing loans to the telecom sector following the aggressive bidding being done by leading telecom companies to retain their existing airwaves. “We will go on a case-by-case basis and will be very selective. We will closely watch the leverage position of all telcos,” Arundhati Bhattacharya, chairperson of State Bank of India told The Economic Times. Read here.
8. Leaving its troubles behind, Shantha makes a fresh start
The Business Standard reports that revenue of the biotech company, Shantha Biotechnics had fallen to as low as Rs 50 crore after it lost a WHO contract in 2010. However, it is now aspiring to reach Rs 700 crore in two years by supplying pentavalent vaccine and other products. Read here.
9. MSME sector needs to be incentivised to generate jobs
The increasing demand in imports of processed industrial items has robbed the domestic industry from expansion of its manufacturing base. Sushim Banerjee cites this as the primary reason in The Financial Express as to why the manufacturing industry is not generating fresh job opportunities. Read here.
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