| 8.5% Interest On Provident Fund For 2009-10 |
| The Employees’ Provident Fund Organization (EPFO) has decided to retain the existing interest rate on provident fund deposits at 8.5% for its 4.5 crore subscribers. The payment of 8.5% interest rate on provident fund deposits, which are of the order of Rs1.82 crore, is expected to leave a surplus of Rs 6.4 crore during the current fiscal. |
| Source: 04-07-09 www.livemint.com Compiled by Amresh Anjan |
| Delhi Pips Mumbai As The Most Expensive Indian City For Expats |
| According to Mercer’s Worldwide Cost of Living survey, Delhi has replaced Mumbai as the most expensive city in the country for expatriates. New Delhi is ahead of Mumbai, Bangalore and Chennai. However, in the global list, all Indian cities have witnessed a decline in their rankings in terms of cost of living this year. New Delhi has fallen to the 65th position from 55th place in last year’s survey, in the global list of 143 cities. Mumbai, which had been the most expensive city for expats in India, has fallen to the 66th position from 48th in the 2008 survey. Globally, Tokyo has pipped Moscow to be the most expensive city for expatriates in the world and is followed by another Japanese city Osaka at the second place. |
| Source: 08-07-09 www.livemint.com Compiled by Amresh Anjan |
| Employment Rate In India Increases In Jan-March |
| Despite economic slowdown and loss of jobs across sectors, employment rate in India in some sectors grew by 0.6 per cent during the Jan-March period this year. Non-export units generated more jobs than the export units. During this period, employment in gems and jewellery units grew by 3.08 per cent, in textiles by 0.96 per cent, in IT-BPO by 0.82 per cent and in automobiles by 0.10 per cent. |
| Source: 08-07-09 www.dnaindia.com Compiled by Amresh Anjan |
| Satyam Set To Sack Another 800 Employees |
| Mahindra Satyam is gearing up for yet another round of lay-offs in the company at senior and mid-management levels in different ‘bands’. There are about 1,200 employees in these categories, ranging from general managers to vice-presidents. Reportedly, about 800 of these employees are likely to be laid off as part of the restructuring exercise. However, according to Mr Hari T, the chief people officer (CPO) of the company, the reported numbers were exaggerated although he agreed that there was excess staffing in the company at all levels. |
| Source: 04-07-09 www.dnaindia.com Compiled by Amresh Anjan |
| Employee Count Decreased By 945 At Infosys In Q1 |
| IT major Infosys Technlogies saw its headcount decline by 945 in the first quarter of this fiscal. The company recruited close to 3,538 employees in the June quarter, but due to attrition and other factors, its total strength has actually lowered. As on June 30, 2009, Infosys and its subsidiaries have a total of 1,03,905 employees on their rolls. In the fourth quarter last year, the company saw net addition of 1,772 employees, while in the first quarter of previous fiscal, there was net addition of 3,192 employees. |
| Source: 10-07-09 www.sify.com Compiled by Amresh Anjan |
| ICAI Helps Women CAs To Break Gender Barrier |
| The Institute of Chartered Accountants of India (ICAI) is on a drive to bridge the widening gender gap. From just 5.2 percent of the total chartered accountants in 1995, to the current 15 percent, the fairer sex is showing a better participation in the profession though women are yet to run the show as CEOs and CFOs. The institute had set up its women steering group on March 8, the International Women's Day, to address women's concerns. Now, the group is planning to set up girls’ hostels in major cities, where a lot of outstation students come for articleship and coaching. |
| Source: 10-07-09 Hindustan Times Compiled by Amresh Anjan |
| Recession Effect: 1.5 lakh Indian Workers Return From UAE |
| Economic crisis and recession have forced an estimated 1.5 lakh Indian workers to return home from the United Arab Emirates. Most of the workers have returned to India on leave without pay with the expectation that they would be able to go back to the Gulf once the situation improves. Some Indians have also returned from Malaysia due to the economic slowdown. |
| Source: 08-07-09 www.rediff.com Compiled by Amresh Anjan |
| New Recruitment Policy For Paramilitary Forces Approved |
| The government has approved a new recruitment policy for paramilitary forces to make the process more objective and allow maximum use of technology. Recently, there were allegations of scams in the recruitment of constables in paramilitary forces. According to the new recruitment policy, tainted officers will find no place during the appointments. Also, no officer belonging to the state in which the recruitment is being done will be a member of any recruitment board for that state. Biometric methods will be used at all stages of recruitment. |
| Source: 05-07-09 www.livemint.com Compiled by Amresh Anjan |
| US Jobless Claims Drop To 565,000 |
| The unemployment rate in the US has declined sharply, amplified by an unusual pattern of layoffs in the automotive industry. According to the Labor Department, initial claims for state unemployment insurance fell by 52,000, the largest drop since December, to 565,000 in the week ended July 4, from 617,000 the prior week. It was the lowest reading since January. There had been far fewer automotive and other manufacturing layoffs last week than anticipated. |
| Source: 09-07-09 news.yahoo.com Compiled by Amresh Anjan |
| Wal-Mart Was The Biggest Employer In 2008 |
| According to the Fortune magazine, retail giant Wal-Mart was the biggest employer in the world with 2.1 million people working for it in 2008. After Wal-Mart, China National Petroleum is the second biggest employer with 1.61 million employees in 2008 followed by the State Grid Corporation of China (1.53 million employees) in the third place, followed by the US Postal Service (765,088 employees) in the fourth place, followed by Sinopec (639,690 employees) in the fifth place. |
| Source: 09-07-09 www.rediff.com Compiled by Amresh Anjan |
| Australian Unemployment Rate At A Six-Year High |
| Australia's jobless rate touched its six-year high of 5.8% in June, up from 5.7% in May. Accordingly, the number of people in work fell by 21,400. The Australian government is spending on a 42bn Australian dollar ($33bn; £20bn) stimulus package to support 90,000 jobs over the next two years. |
| Source: 09-07-09 news.bbc.co.uk Compiled by Amresh Anjan |
| Ikea To Issue More Pink Slips |
| Swedish flat-pack giant Ikea will cut more jobs than previously decided to counter the financial crisis caused by falling demand for its furniture. The exact numbers were not given by the company. In the past 10 months, Ikea has already eliminated 5,000 jobs globally. However, the company would be hiring staff in the 50 new stores it plans to open. Currently, the group has 246 stores and around 140,000 staff globally. |
| Source: 07-07-09 news.yahoo.com Compiled by Amresh Anjan |
| Corus To Cut Over 300 Jobs In UK |
| In its attempt to improve competitiveness by aligning employment cost, Tata Steel UK's subsidiary, Corus, may axe up to 336 jobs at its Scunthorpe site in north-east England. The company is in consultation phase with employees and representatives to seek voluntary redundancies, while at the same time ensuring critical skills were retained. The company will provide support packages to those leaving the company. |
| Source: 10-07-09 www.sify.com Compiled by Amresh Anjan |
| German Chemical Company To Cut 3,700 Jobs |
| BASF, a German chemical company, will axe about 3,700 jobs by 2013 as part of its restructuring measures to save at least 400 million euros per year from 2012 onwards. The company is looking to close 23 of the 55 former Ciba production sites worldwide and would consolidate the remaining 32 of 70 sales and administrative offices and research sites into its existing operations. |
| Source: 07-07-09 www.rediff.com Compiled by Amresh Anjan |
| Stay At Home For A Year For 75% Pay Cut: BT To Staff |
| In an attempt to slash spiraling costs, British Telecom (BT) is offering employees a year at home in return for a 75% pay cut. BT has also offered a one-off payment of $1,633 if they agree to go part-time. Also, parents are being given the option of no longer having to work during school holidays in return for less pay. |
| Source: 04-07-09 www.livemint.com Compiled by Amresh Anjan |
| Mr Shirish Apte Is New Citi Asia-Pacific CEO |
| Citigroup has appointed Mr Shirish Apte and Mr Stephen Bird as chief executive officers for its Asia-Pacific operations. While Mr Apte will be responsible for southern Asia, Mr Bird will look after northern Asia operations. Mr Shengman Zhang has been roped in as chairman for the Asia-Pacific operations. |
| Source: 08-07-09 www.rediff.com Compiled by Amresh Anjan |
| MphasiS Appoints Mr Ganesh Murthy As CFO |
| MphasiS has appointed Mr Ganesh Murthy as its chief financial officer. He replaces Mr Susanto Banerjee, who has decided to pursue opportunities outside the company. Mr. Murthy possesses experience across diverse industries. |
| Source: 04-07-09 www.hindu.com Compiled by Amresh Anjan |
| Mr PK Ruia Quits As Chairman Of Jessop Board |
| Mr Pawan Kumar Ruia, chairman of Ruia Group, has quit the board of wagon manufacturer Jessop, which he acquired from the Union government in 2003. He is also looking to step down from the boards of Dunlop India Ltd and Falcon Tyres Ltd as he wants to focus on acquiring new companies. |
| Source: 07-07-09 www.livemint.com Compiled by Amresh Anjan |
| Mr James Leng Quits Tata Steel |
| Mr James Leng has stepped down from the board of directors of Tata Steel as deputy chairman (independent). He was earlier the chairman of Corus. |
| Source: 09-07-09 Business Standard Compiled by Amresh Anjan |
| SG GSC Appoints Ms Nippi Kochhar As CEO |
| Societe Generale Global Solution Centre (SG GSC), based in Bangalore, has appointed Ms Nippi Kochhar as the company’s CEO. SG GSC is a wholly owned subsidiary of France-based Societe Generale Group. |
| Source: 09-07-09 Business Standard Compiled by Amresh Anjan |
| DCB Appoints Mr Rajesh Verma As Treasury Head |
| Mr Rajesh Verma has been appointed as senior vice-president and head-treasury of Development Credit Bank (DCB). Prior to this, Mr Verma was deputy general manager at State Bank of India. |
| Source: 09-07-09 Business Standard Compiled by Amresh Anjan |
| Mr Max Hegerman Is New President At Tribal DDB |
| Mudra Group’s digital agency Tribal DDB has appointed Mr Max Hegerman as its new president, replacing Mr Leroy Alvares who left Tribal DDB to join Wunderman India as CEO. Mr Hegerman was formerly regional managing director at TBWA Media Arts Lab in Beijing. |
| Source: 06-07-09 www.alootechie.com Compiled by Amresh Anjan |
| Ibibo Appoints Mr Rahul Sethi As President, E-Commerce |
| Ibibo Web has appointed Mr Rahul Sethi as president, e-commerce after the company launched Tradus.in, an online auctions platform for buyers and sellers. Prior to this, Mr Rahul Sethi had founded MobileNXT and was the head of e-commerce at Web 18. |
| Source: 09-07-09 www.alootechie.com Compiled by Amresh Anjan |
No comments:
Post a Comment