HR Articles: Oct-10 (Part-3)

For more article, Visit at : www.amreshanjan.co.cc   Whistle And Work – It Will Help You Do Your Job Better Interestingly, whistling while you work could help you do your job better, according to a new study. A leading psychologist said that whistling or singing helps distract the mind from trying too hard and prevents mental pressure. The suggestion is based on a study into the phenomenon of 'choking' - the moment when a footballer misses a critical penalty or a top student fails an important exam. Dr Sian Beilock of the University of Chicago argues far from being down to 'just nerves', choking occurs when the brain finds itself with too many pieces of information to process, resulting in 'paralysis by analysis'. The same situation holds true when presenting a vital sales pitch or doing an audition. Some of the most memorable moments of choking occur in sports when the whole world is watching, she added. Singing also helps stop parts of the brain that might interfere with performance from taking over, she said. Source : 22-09-10   DNA   Compiled by Amresh Anjan Indian Cos No 1 In Employee Engagement, Says A Study When it comes to employees confidence and effective leadership in the firms, Indian companies have been ranked the highest as compared to their global counterparts, says a latest study. The annual WorkTrends report by Kenexa, the research arm of leading global HR solutions provider, analyzed the importance of leadership and managerial effectiveness to employee engagement and organisational success. Engaged employees are the ones who are more dedicated towards their company and put in extra effort to help their firm achieve its goals. The study said when employees report that they follow effective leaders, the average employee engagement index score is 91 per cent, globally. The study covered over 29,000 employees across the world. It focused on the engagement and how healthy firms are comprised of well-trained, engaged workers who have the tools they need and are aligned toward common goals. The countries covered in the survey include India, US, UK, Australia, Brazil, Canada, China, Denmark, Finland, France, Germany, India, Italy, Japan, Mexico, The Netherlands, Russia, Spain, Sweden, Switzerland and some nations in the Gulf Co-op Council. Source : 23-08-10   profit.ndtv.com   Compiled by Amresh Anjan MBAs To Appear For Tests To Bag Their Dream Jobs Fresh MBAs may have to appear for entrance tests in order to get their dream jobs from February 2011, media reports said. The All-India Management Association (AIMA) is all set to come up with a computer-based screening test to assess B-school graduates. "Big recruiters like Deloitte, Dabur, MetLife India, Idea Cellular, Camlin Ltd, Alembic Ltd, HLL, Pfizer, Parle, PwC India, McAfee, Nokia, Lenovo, JM Financial, Reliance Industries, Suzlon and TATA Communications have agreed to use the score of the AIMA test during recruitment," the report said. The test, called as Management Aptitude and Skills Test (MAST), is expected to be of 150-minutes. It is scheduled to be held on February 20, 2011 across India, report added. Source : 22-09-10   zeenews.com   Compiled by Amresh Anjan Capgemini To Recruit 500 In India Global IT service provider, Capgemini said it will hire 500 people in India for its Business Information Management (BIM) service line. "We have 1,500 professionals in India and plan to hire 500 more for our business information management (BIM) service line by December 2010," Capgemini's Global Leader, Business Information Management, Mr Paul Nannetti, said. Source : 22-09-10   rediff.business.com   Compiled by Amresh Anjan HP And Mr Mark Hurd Settle Legal Dispute Over Hiring At Oracle Hewlett-Packard Co has settled a legal dispute over Oracle Corp.'s hiring of Mr Mark Hurd. The companies said in a joint statement that "Mr Hurd will adhere to his obligations to protect HP's confidential information while fulfilling his responsibilities at Oracle," but did not provide further details. However, it is still not clear how much of Hurd's original exit package, which was estimated at $34.6 million, would be affected by the settlement. Source : 21-09-10   livemint.com   Compiled by Amresh Anjan Infosys, TCS In US Hiring Push Stung by tougher immigration regulations for foreign software engineers on short-term contracts who are allegedly "stealing" American jobs, Indian IT outsourcing companies are making a push to recruit more staff in the US. The three largest Indian outsourcing companies, Tata Consultancy Services, Infosys and Wipro, are together hiring 2,300 staff, which would increase their combined US payroll by about 13 per cent. Infosys, which employs over 115,000 worldwide, is increasing its present 1,600-strong US payroll by 1,000. TCS, which derives more than half its revenues from North America, has about 16,000 working in the region, of its total 160,000 employees. It plans to increase its global workforce, of which presently only 7 per cent are foreign nationals, by 40,000 this year, adding 800 jobs in the US. Source : 21-09-10   Financial Times   Compiled by Amresh Anjan Air India In The Process Of Finalising Appointments To 3 Key Positions Sources have revealed that cash-strapped Air India will soon finalise appointments to three key managerial positions which would put an extra annual burden of about Rs 3.5 crore annually. The appointments are for the positions of the Chief Executive Officer of Air India Express, Chief Training Officer (CTO) and Chief Information Officer (CIO) for Air India. With a meeting of the Air India Board slated on September 28, the management is likely to seek approval on the appointments of Capt Pawan Arora as Air India Express CEO, Stefan Sukumar and Kamaljit Rattan as Chief Training Officer and Chief Information Officer respectively, according to sources. Source : 21-09-10   Business Standard   Compiled by Amresh Anjan HDFC Bank Allots 1.3 Mn Shares To Its Employees Private sector bank HDFC Bank said it has allotted 1.37 million shares to its employees after the latter exercised their options under employee stock option scheme (ESOS). Source : 24-09-10   Business Standard   Compiled by Amresh Anjan Jindal Drilling & Industries Sacks Its MD Jindal Drilling & Industries said that it has terminated the services of its managing director Mr Naresh Kumar with immediate effect. The company said its board has lost confidence in him without giving any exact reason. "The Board has also withdrawn forthwith, all powers and authorities granted to him or being exercised by him in such capacity," the company said. Source : 24-09-10   Business Standard   Compiled by Amresh Anjan Future Cap Hires New Directors Kishore Biyani-promoted Future Capital Holdings announced that its board of directors has approved the appointment of Mr Anil Singhvi, Mr NC Singhal and Mr Pradeep Mukherjee as the non-executive independent directors of the company with immediate effect. Recently, the company appointed former ICICI Prudential Life Insurance honcho Mr V Vaidyanathan as its vice chairman and managing director. Source : 24-09-10   Business Standard   Compiled by Amresh Anjan ArcelorMittal Appoints CEO Of Stainless Unit Global steel major, ArcelorMittal announced the appointment of Mr Bernard Fontana as chief executive of its stainless division, which is being assessed for a potential spin off. He was previously head of human resources for the group and is replacing Mr Jean-Yves Gilet, who has left the company to head France's Strategic Investment Fund, the company said in a statement. Mr Willie Smit, former vice president of employee relations and benchmarking, will replace Mr Fontana. Source : 24-09-10   Business Standard   Compiled by Amresh Anjan Maruti Reappoints Its MD And CEO Maruti Suzuki India (MSI), the country's largest carmaker, said that it has reappointed its Managing Director and CEO Mr Shinzo Nakanishi for three years with effect from December 19, 2010. The company has also reappointed its Director and Managing Executive Officer (Production) Mr Tseuno Ohashi for three years with effect from January 1, 2011. Source : 24-09-10   Business Standard   Compiled by Amresh Anjan Lufthansa Appoints Mr Franz As CEO Deutsche Lufthansa AG, Europe's second-largest carrier, named Mr Christoph Franz to succeed Mr Wolfgang Mayrhuber as chief executive officer. Mr Franz will take over on January 1, the airline said in a statement. Mr Carsten Spohr, who has run the cargo unit since 2007, will succeed Mr Franz as head of the Lufthansa brand passenger unit. Source : 23-09-10   Business Standard   Compiled by Amresh Anjan Ms Govil Is AkzoNobel Head AkzoNobel, the maker of Dulux Paints, has named Ms Sucheta Govil as new global head of marketing for the company's decorative paints business. She will officially take up the post at the beginning of the next calendar year and be based in Slough in UK. Source : 24-09-10   The Financial Express   Compiled by Amresh Anjan Mr Anand Sinha Likely To Succeed Ms Usha Thorat. Deputy Governor, RBI The race for the deputy governor's position at the Reserve Bank of India (RBI) that will fall vacant in November when Mr Usha Thorat retires has reached the last lap. Mr Anand Sinha, an executive director (ED) at the central bank, tops the list of candidates chosen by a search committee to be the successor of Ms Thorat. Source : 18-09-10   livemint.com   Compiled by Amresh Anjan Mr N K Bharali Joins Oil India's As Director (HR & BD) Mr Nripendra Kumar Bharali has been named as the new Director (Human Resources and Business Development) of Oil India Ltd. Mr Bharali, a post graduate from the Indian Institute of Management, (IIM), Ahmedabad, graduated as Petroleum Engineer from the Indian School of Mines (ISM), Dhanbad, and started his career with OIL as a senior executive in 1982. Source : 18-09-10   Business Standard   Compiled by Amresh Anjan Ashok Leyland Names Mr Nilsson As Int'l Operations ED Hinduja flagship firm Ashok Leyland said it has named ex-head of Scania and MAN in CIS countries, Mr Per Gustav Nilsson as its Executive Director for international operations. "Nilsson brings with him rich global experience and market knowledge, having handled international assignments with leading commercial vehicle manufacturers," as per the company. Born in Sweden, before joining Ashok Leyland, Mr Nilsson had been heading the group companies of Scania and MAN in the CIS (Commonwealth of Independent States) countries. Source : 24-09-10   Business Standard   Compiled by Amresh Anjan Federal Bank Appoints New MD & CEO Mr Shyam Srinivasan has been appointed as the Managing Director & CEO of Federal Bank with effect from September 23. He has taken charge of the bank after having worked with various banks such as Standard Chartered Bank and Citibank. Mr. Srinivasan is an alumnus of the Indian Institute of Management, Kolkata and Regional Engineering College, Tiruchirapally. Source : 24-09-10   The Hindu   Compiled by Amresh Anjan Cleatrip Names New Chief Marketing Officer Online travel company Cleartrip.com has named Mr Niraj Seth as chief marketing officer. He will report to Mr Stuart Crighton, chief executive officer of the company and will be based in Delhi. "The CMO role is critical to the continued development of Cleartrip. With our accelerated growth trajectory, consumer relationships continue to be our priority in all that we do. Having Seth's keen insight to support our world-class products will be a great combination," Mr Stuart Crighton has said. Source : 23-09-10   alootechie.com   Compiled by Amresh Anjan Volkswagen India Appoints Mr Upadhyay As ED HR & Admin Volkswagen India Private Limited has announced the appointment of Mr Piyush Upadhyay as the Executive Director, Human Resource and Administration, with immediate effect. Prior to this, Mr Upadhyay was with Tata BlueScope Steel as its Chief-Human Resources. Source : 25-09-10   netindian.com   Compiled by Amresh Anjan

HR Articles: Oct-10 (Part-2)

For more article, Visit at : www.amreshanjan.co.cc   India Inc Looks For Top Shots Thanks to improved market conditions, hiring at the top level across sectors is back. Companies have begun hiring for top level positions including managing directors, chief executive officers, chief financial officers and chief operating officers to mid-level executives in execution and sales departments. Sectors such as infrastructure, real estate and consumer goods are presently very active in hiring and are coming up with new positions as their business expands. Pay packages, meanwhile, have returned to the same levels as they were before the slowdown. The job market remains robust in India on strong domestic growth and recovery in key global markets. Staffing services firm Manpower's Employment Outlook Survey revealed that in the next quarter, public administration and education sector in India is expected to witness the highest net employment outlook of 45%, followed by services (40%) and finance, insurance and real estate (34%). Source : 15-09-10   The Financial Express   Compiled by Amresh Anjan Interest Rate On Employee Provident Fund Increased To 9.5% A little before the festival season, retirement fund manager EPFO's Trustees raised the interest rate on provident fund deposits by one percentage point to 9.5% that will benefit nearly 4.71 crore employees. This is the highest interest rate declared by the EPFO in five years. "We have decided to give 9.5% rate of interest to subscribers during the current financial year on their contributions. For over four crore subscribers this is a big gift from EPFO Trustees," labour minister Mr Mallikarjun Kharge said after meeting the trustees. The decision is likely to put an extra burden of Rs1,600 crore on the EPFO, the minister said, adding that it would be met from the surplus of over Rs1,731 crore in the interest suspense account. The decision, as per bankers, could see a diversion of savings towards provident funds as the difference between the fixed deposit rates and PF rates would encourage savings towards the latter. Source : 15-09-10   DNA   Compiled by Amresh Anjan Healthcare, Hospitality Create Maximum Number Of Jobs According to the Ma Foi Randstad Employment Trends Survey, the organised sector in India would create about 320,000 jobs between July and September. There is optimism in the economic scenario across all sectors and most of the new jobs created are in services, the survey says. It revealed 418,000 jobs were created between January and June, with the healthcare sector creating 121,000 jobs, with another 63,000 in the hospitality sector. The top five sectors leading the boom are healthcare, hospitality, real estate and construction, information technology and IT-enabled services, and education, training and consulting. Source : 16-09-10   Business Standard   Compiled by Amresh Anjan Peace In North Block, Mint Rd After Central Bank's Pay Revision The impasse between the finance ministry and Reserve Bank of India (RBI) on at least one critical issue has finally come to an end. Both have mutually agreed to meet half-way on the revision of the pay of central bank's employees. The deadlock over the past four months increased after the finance ministry asked RBI to take its approval before revising the compensation package. RBI said that it was not obliged to do so. Conventionally, RBI merely informs the ministry about staff pay revisions after administrative orders are issued. Pay revisions in RBI are usually decided after discussions between its top management, the human resources department and employees' union. Source : 13-09-10   Business Standard   Compiled by Amresh Anjan B-Schools Flooded With Jobs Indian Institutes of Management are flooded with Pre-placement offers, but other B-schools in the country are not lagging behind - they are fast catching up with the trend. While some of these institutes have started receiving pre-placement offers, others are in talks with companies to begin the process. For instance, Bhubaneswar-based Xavier Institute of Management has tapped several companies to find out whether they are considering PPOs for their students. "The outlook this year seems brighter as compared to the past two years. We expect the picture to be clear by October," said Mr Sabita Mohanty, placement co-ordinator of XIM Bhubaneswar. PPOs are offered to students, based on their performance during the summer internship in a company, after the completion of the first year of management courses. Source : 13-09-10   Business Standard   Compiled by Amresh Anjan Last Hope On US Jobs Democrats in the US Congress have a late chance to show disgruntled voters they are trying to improve the economic conditions with a plan to extend help to small businesses before the November mid-term elections. As lawmakers come back from a month-long break this week, Democrats plan to pass their small-business Bill out of the Senate by the end of the week and send it to the House of Representatives for final approval. The House has backed a version of the Bill in the past. If the Bill clears Congress, it would be a special victory on the job-creation front for Democrats who have seen many of their other efforts torpedoed by Republicans this year. Source : 14-09-10   The Financial Express   Compiled by Amresh Anjan US Jobless Claims Dip New US claims for unemployment benefits plunged more than expected last week to a two-month low, while the trade deficit narrowed sharply in July, providing positive signs for the stuttering economic revival. According to analysts, the reports helped to calm fears growth was slowing sharply and implied the economy could soon pull out of a recent soft patch. "We were expecting that things would slow down in the third quarter and start to pick up in the fourth quarter, but now it seems like the slowdown in the third quarter wasn't as severe as we feared," said Mr David Sloan, an economist at 4CAST in New York. Initial claims for state unemployment benefits dropped 27,000 to a seasonally adjusted 451,000, the lowest since the week ended July 10, the Labor Department said. That was less than financial market expectations for 470,000. Source : 11-09-10   The Financial Express   Compiled by Amresh Anjan Many Insurance Employees To Lose Jobs At a time when the economy is back on the recovery track, 10,000 life insurance industry employees stand to lose their jobs in the next few months as companies finalise plans to reduce headcounts and slash wages. According to industry sources, some firms have already started handing out pink slips. ICICI Prudential, HDFC Standard Life and Max New York Life (MYNL) between them could lay off an estimated 8,500 employees, the sources said. Insurance firms are looking for ways to slash expenses after watchdog Insurance Regulatory Development Authority enforced a new set of norms from this month for Unit Linked Insurance Products (ULIPs) that crack down on exorbitant agent commissions. Source : 16-09-10   Hindustan Times   Compiled by Amresh Anjan Skilled Professionals Are Back In Demand Good news for skilled professionals as they draw multiple job offers from companies facing talent crunch, especially in IT, telecom and financial services sectors, according to experts. As companies want to expand amid revival in the economic climate, job opportunities are amplifying, resulting in multiple offers for professionals at a particular time. "A growing trend of multiple job offers for professionals, mainly in junior and middle levels, has become visible in the past two quarters, as companies short of talent are gearing up to hire robustly," human resource service provider Ma Foi Randstad president(Staffing & Training) Mr E Balaji said. "Moreover, with job market hotting up, professionals are applying and giving interviews in many companies and they end up with several offers from different firms," he added. Experts also said that maximum offers are being witnessed in IT, telecom, infrastructure and banking, financial service and insurance sectors. Source : 13-09-10   The Financial Express   Compiled by Amresh Anjan Realty Cos' Top Management Sees Modest Salary Increments This Year Real estate companies in India are apparently following a strange model for compensating their top notch—profligacy in a downturn, and austerity in a boom. Many CEOs who took huge pay hikes during the gloom of 2009, have decided to either forego their hikes, or take modest ones this year, when the sector is doing much better. Last year a couple of companies' CEOs—Unitech's Mr Sanjay Chandra and HDIL's Mr Sarang Wadhawan came under scathing criticisms from the media. While Chandra took away salary increase of about 60% between 2008 and 2009, Mr Wadhawan got an increment of a massive 200% plus between 2008 and 2009, when the nation was in crisis. Realty major, Unitech has also reduced their employee cost by 11% to Rs 99 crore. That's not to say that they haven't recruited new people because they have gone so aggressive on their launches so they have had to hire more people. Source : 13-09-10   moneycontrol.com   Compiled by Amresh Anjan Genzyme Plans To Slash 1, 000 Jobs Cambridge-based biotechnology company Genzyme plans to axe 1000 jobs over the next 15 months. Employees at Genzyme were notified about the company's plans to slash workforce through a memo by the Chief Executive of the company Mr Henri Termeer. According to a Boston Globe report, the memo said that cuts are being made to achieve 'substantial annual target savings' by 2012. Source : 13-09-10   Business Standard   Compiled by Amresh Anjan Deloitte Cautions India Inc Against Bringing Outside Successors At Indian Cos With a hunt on for successors of Mr Ratan Tata and Mr Narayana Murthy, consultancy firm Deloitte has cautioned India Inc against bringing in outsiders because it is likely to send a wrong message about leadership development within the respective groups. The $71 – billion Tata Group has begun the search for a successor to its Chairman, Mr Ratan Tata, who would be stepping down in December 2012. The search has also started to find a replacement for Infosys Chairman and Chief Mentor Mr N R Narayana Murthy, who would be retiring in August next year. Source : 13-08-10   Business Standard   Compiled by Amresh Anjan Nokia Smartphones Head Mr Vanjoki Ready To Quit Nokia said Mr Anssi Vanjoki, head of its smartphones division, resigned. He will stay in his job for now and has a six-month notice period, the Espoo, Finland-based company said. Source : 14-09-10   The Financial Express   Compiled by Amresh Anjan CA Technologies To Add 900 Employees To Its Portfolio IT management software and solutions firm CA Technologies plans to add 900 people over the next 3-5 years at its India Technology Centre, taking the total headcount to 2500. "The Indian market presents a unique opportunity for us. The centre in Hyderabad develops about 30% of CA's global products and employs over 1, 600 people," CA Technologies senior vice-president Mr Sanket Atal said. Source : 11-09-10   yahoo.com   Compiled by Amresh Anjan Mercedes Benz India CEO Resigns Mercedes Benz India's MD and CEO Mr Wilfried Aulbur has resigned from the position and will remain till a successor is identified. Source : 13-09-10   The Financial Express   Compiled by Amresh Anjan Infosys BPO Plans To Double Its Staff Strength In The Philippines Infosys BPO plans to double its staff strength in the Philippines in the next 12 months seeing a sizeable talent pool in legal process outsourcing and financial services, where it doesn't have a presence. "Currently, we offer only customer services in the Philippines, which we are planning to expand into areas like legal, financial and accounting outsourcing. Philippines offers a market of quality talent pool in these areas," said Mr Ritesh Idnani, chief operating officer, Infosys BPO. Source : 13-09-10   The Financial Express   Compiled by Amresh Anjan Emirates NBD Names New Bank CFO The UAE's leading bank. Emirates NBD, has named Mr Surya Subramanian as its chief financial officer. He is a chartered accountant with over 25 years experience in banking and finance in India, Pakistan and Singapore, where he was based for the last 20 years. Source : 16-09-10   Business Standard   Compiled by Amresh Anjan RCML Appoints Mr Abrar Mir As Global Head Of Healthcare Inv Banking Religare Capital Markets, a part of of Religare Enterprises, said it has named Mr Abrar Mir as Global Head of Healthcare Investment Banking. Before joining Religare Capital Markets Ltd (RCML), he founded and acted as managing partner for NBD Sana Capital, which is one of the largest Sharia compliant private equity funds in the Middle East, the company said. Source : 14-09-10   Business Standard   Compiled by Amresh Anjan BBC Chairman To Step Down Next Year BBC Trust chairman Mr Michael Lyons, who has come under fire from politicians for the way he oversees the broadcaster, is likely to step down in May after deciding against seeking a second term. Mr Lyons told the government that he would not want to be considered for a further term after serving four years because the job was too demanding and taking up too much time. The Trust was established in 2007 to look after the corporation and represent viewers, who fund the BBC by paying a licence fee. Source : 14-09-10   DNA   Compiled by Amresh Anjan

HR Articles: Oct-10 (Part-1)

For more article, Visit at : www.amreshanjan.co.cc   50, 000 Pounds A Year Salary Can Buy Happiness, Says A Study According to a new study by American scientists, 50,000 pounds can buy you all the joy you need. The results revealed that the lowest earners found life the biggest struggle, and the struggle eased with increasing salaries. Those earning between 75,000 dollars to 50,000 pounds looked the happiest lot. Interestingly, those earning 100,000 pounds and 150,000 pounds are no more happy than those earning 50,000 pounds. The study also showed that envy at being lower in the social pecking order tarnishes the satisfaction of being well off. Dr Chris Boyce, of the University of Warwick, said, "Earning 1million pounds a year appears not to be enough to make you happy if you know your friends all earn 2million pounds a year." Source : 07-09-10   Hindustan Times   Compiled by Amresh Anjan India Inc Buoyant On Hiring Employers in India are planning to step up hiring in the next three months. According to a survey, public administration, education and services sectors are expected to see strong recruitment trends. Worldwide, India is the most positive in terms of recruitment intentions for the fourth quarter, after China and Taiwan, as per staffing services firm Manpower's Employment Outlook Survey. "The job market remains robust in India as a result of strong domestic growth and recovery from key global markets. But employers in other countries are reporting strong hiring forecasts as well," Manpower India's managing director Mr Sanjay Pandit said. Source : 08-09-10   ibnlive.in.com   Compiled by Amresh Anjan The Saga Of Job Slashing Continues... Macquarie Group started slashing jobs after warning of a 25% drop in first-half earnings amid weak markets. Credit Suisse also said it will cut 75 jobs in the UK. Meanwhile, Barclays said that it planned to axe 400 back-office jobs in its investment bank across the world as economic fears hit deal making, sources said. Source : 08-09-10   dnaindia.com   Compiled by Amresh Anjan Fat British Man Asked To Leave The Job Strange but true - A Briton has lost his job simply because he's too fat to work. Mr Barry Fowers, 51, who had worked for Crestchic for 10 years and was earning 290 pounds a week, had to leave his job and is now living on 21.65 pound-a-week Jobseeker's Allowance. But he said, in spite of having a sick note and suffering from angina, diabetes, back trouble and bowel syndrome, he is still classed as fit to work and cannot claim employment and support allowance worth 75 pounds a week. His wife Shirley said, "We want this payment (arrangement) changed." He was previously granted incapacity benefit but was later deemed fit to work by the Department for Work and Pensions and told to sign on for Jobseeker's Allowance. Source : 08-09-10   news.in.msn.com   Compiled by Amresh Anjan RBI Suggests Higher Pay For PSB Employees The Reserve Bank of India suggested the government to improve executive compensation as well as pay-packets of other employees in order to improve their efficiency. "The executive compensation in the public sector, as is well known, is lower than that in the private sector... There is perhaps a good reason to revisit this. If public sector banks are required to compete with private banks on a level playing field, there is a good case for compensating them too on a competitive base. There is also the risk that if the public sector bank compensation is not improved, the public sector may lose talent to the private sector," said RBI Governor Mr D. Subbarao. Source : 08-09-10   The Hindu Business Line   Compiled by Amresh Anjan Jet Airways Welcomes Back 200 ex-employees – A Sign Of Recovery In Aviation Industry The country's largest private carrier Jet Airways has asked hundreds of its former employees to re-join the carrier, a signal of recovery in the domestic airline sector. Nearly 200 employees who had left the airlines during the slowdown in the industry have already accepted its offer. "We have contacted 400 people (who left the company since October 2008) and out of them, nearly 200 have re-joined us," Jet Airways chief commercial officer Mr Sudheer Raghavan said. Source : 07-09-10   in.news.yahoo.com   Compiled by Amresh Anjan Let Shareholders Decide CEO Pay, House Panel Asserts The government should empower shareholders in fixing salaries of chief executive officers, a Parliamentary Panel said and asked it to cap managerial remunerations based on a "rational formula." "An overall outer ceiling on managerial remuneration may be prescribed," said the Parliamentary Standing Committee on Finance, which presented its report on the Companies Bill 2009 in Lok Sabha last week. "The remuneration payable within this overall ceiling may be decided by the remuneration committee of board or shareholders," it added. Source : 05-09-10   Hindustan Times   Compiled by Amresh Anjan India Helps US In Keeping Hiring Down In The Tech Sector The technology sector has been considered the most dynamic, promising and globally envied industry in the US for years now. But as the country struggles to put people back to work, even high-tech companies have been slow to hire, an indication of just how difficult it will be to address persistently high joblessness. While the labor report released last week showing August figures provided slightly positive news on private-sector hiring, the unemployment rate was 9.6 per cent. The disappointing hiring trend raises questions about whether the industry can help power a revival and sustain American job growth in the next decade and beyond. Its apprehension has prompted economists to ask "If high tech isn't hiring, who will?" In the meantime, an earlier generation of engineers is scouring for jobs, and having to fight with a more globalised pool of talent. There is no exact estimation on how many jobs are being moved overseas. Source : 08-09-10   Hindustan Times   Compiled by Amresh Anjan United States Inc Adds A Huge Number Of Jobs US employment dropped for a third straight month in August, but the drop was way less than expected and private hiring surprised on the upside, easing pressure on the Federal Reserve to prop up economic growth. Nonfarm payrolls declined 54,000, the Labor Department said, helping to alleviate fears of a double-dip recession. Financial markets had looked for a fall of 100,000 jobs. However, the data will likely do little to take the political heat off President Barack Obama over his managing of the economy or improve the Democratic Party's chances in November's mid-term congressional elections. Source : 04-09-10   Business Standard   Compiled by Amresh Anjan Shoppers Stop Names MD Shoppers Stop appointed Mr Govind Shrikhande as the managing director of the company, with effect from July 29. Mr Shrikhande has been with the company for the last 10 years. Source : 10-09-10   Business Standard   Compiled by Amresh Anjan Singapore Airlines Appoints New CEO Singapore Airlines has announced Mr Goh Choon Phong as the CEO of the airline. Mr Phong will succeed Mr Chew Choon Seng as CEO when Chew retires in December 2010. Goh will formally take up the CEO position on January 1, 2011. He has served in senior management positions in Singapore as well as overseas, and is presently executive vice president for marketing and the regions, having been appointed to the post earlier this year after four years as president of Singapore Airlines Cargo. Source : 05-09-10   The Financial Express   Compiled by Amresh Anjan Daikin Names New MD Daikin Airconditioning India Pvt Ltd, the fully owned subsidiary of Daikin Industries Ltd, Japan, named Mr Kanwal Jeet Jawa as its managing director (MD). The current MD, Mr Toshiki Hayashi, will move to Daikin Europe to take up an assignment there. Source : 09-09-10   Business Standard   Compiled by Amresh Anjan Ex-AIG Chief Is Willis Deputy Chairman Mr Martin Sullivan was appointed deputy chairman of Willis Group, the world's third-largest insurance broker, two years after he was ousted as chief executive officer of American International Group. Mr Sullivan, who ran AIG for three years until 2008, was also named CEO of a new advisory division, the company said. Source : 09-09-10   Business Standard   Compiled by Amresh Anjan Barclays Shared Services Appoints Mr Subhajit Chowdhary As CFO Barclays Shared Services (BSS), a 100% subsidiary of Barclays Bank Plc, has named Mr Subhajit Chowdhary as chief financial officer. Mr Chowdhary will take care of the overall management of the company's finance department as well as regulatory compliance. Source : 10-09-10   The Financial Express   Compiled by Amresh Anjan Merrill Lynch Names New Asia Wealth Chief From UBS Mr Michael Benz from UBS has been appointed as Bank of America's head of Merrill Lynch's Asia Pacific wealth management team. Mr Benz will succeed Mr Antony Hung who is retiring. Prior to the appointment, he headed UBS's investment products and services unit in Asia-Pacific. Source : 07-09-10   livemint.com   Compiled by Amresh Anjan Oracle Appoints Former HP Boss Mr Mark Hurd As President Oracle Corp has appointed Mr Mark Hurd, the former chief executive of Hewlett-Packard Co who resigned amid a scandal, as president. Mr Hurd, a close friend of Oracle CEO Mr Larry Ellison will replace Mr Charles Phillips, who has resigned, Oracle said. Source : 07-09-10   DNA   Compiled by Amresh Anjan Satyam Japan Names Country Manager Satyam Computer Services has named Mr Kunihiko Higashi as country manager in Japan. He has held senior management positions at Computer Associates, Cisco Sytems and Peoplesoft, among others. Source : 10-09-10   The Financial Express   Compiled by Amresh Anjan Ms Nita Ambani May Become Vice-chairman Of Oberoi's Hotel Business Nita Ambani, wife of Mr Mukesh Ambani, chairman of Reliance Industries Limited (RIL), is not only going to be on the board of East India Hotels (EIH) but may also become its vice-chairman. The Ambanis had bought a 14.12% stake in EIH for Rs1, 021 crore on August 30. According to sources, the business relationship between the two is the result of the personal relationship between Ms Nita and the Oberoi clan. Source : 09-09-10   DNA   Compiled by Amresh Anjan