Bonus Scene On The Wall Street, Many May See Zeros Bonus season is fast approaching but this year the talk does not centre just on multimillion- dollar paydays. It's about a new club that no one is keen to join: The Zeros. A zero bonus should not come as a surprise to many bankers. As a result of 2008 financial crisis, Wall street journal firms like Goldman Sachs and banks like Citigroup raised base pay substantially in 2009 and 2010. They were seeking to placate regulators who had argued that bonuses based on performance encouraged excessive risk. In terms of overall profit, Wall Street is on track for one of the best years ever although it will trail 2009, which was pumped out by Federal bail out money. This year Wall Streets five biggest firms have put aside nearly $90 million for bonuses. But, bankers and compensation experts say that bonus payouts will vary widely this year.
Source : 21-12-10 Indian Express Compiled by Amresh Anjan
Delhi Creates Highest Employment In 2010 With India coming back to track post the slowdown, Delhi and NCR has has reported largest employment generation in 2010 by creating 1,13,897 jobs in the year. Large scale hiring was in place during the third quarter of 2010 with the Commonwealth Games 2010 being a significant contributor for the region in terms of hiring. Mumbai ranks second in employment generation in 2010 with 1,07,806 jobs.
Source : 20-12-10 The Financial Express Compiled by Amresh Anjan
Google Most Preferred Employer In B-school Most MBAs graduating from India's leading management schools in 2011 would like to work in the FMCG sector as it offers attractive growth prospects, according to a latest study by the Nielsen Company. According to the Nielsen Campus Track–B School Survey, Google become the employer with the strongest image among the students ahead of Tata Administrative Services, Hindustan Unilever and Procter & Gamble. Last year's topper, McKinsey has moved to the fifth place this year. The survey also said the students are also expecting better salaries up to an average of Rs. 16 lakh annually, which is higher by Rs. one lakh from last year.
Source : 21-12-10 NDTV.com Compiled by Amresh Anjan
IT Companies On A Hiring Spree Top IT companies, including Infosys Technologies, Tech Mahindra, Mahindra Satyam, Newgen Software, Emerson Design Engineering Centre and Birla Soft have converged at Punjabi University campus for extending lucrative job offers to over 350 of its students, with pay packets ranging from over Rs 2 lakh to 3.5 lakh.
Source : 20-12-10 Indian Express Compiled by Amresh Anjan
Investment Banks To Pay Higher Salaries Major US and Swiss investment banks are considering paying higher salaries and lower bonuses to bankers based in Europe following a regulatory clampdown. Most of the world's biggest investment banks will overhaul their pay structures to differentiate between bankers based in Europe and those who work elsewhere to make sure they comply with new rules issued by the committee of European Banking. The CEBS guidelines, which apply from January 2011 and will cover the 2010 bonus round, set a cap of 20% on total pay on cash bonuses at banks in the EU and are seen as being more stringent than the set of principles world leaders at the Group of 20 countries agreed to introduce. The FT said JPMorgan, Goldman Sachs, UBS and Credit Suisse are working on plans to restructure packages differently for EU staff.
Source : 22-12-10 Hindustan Times Compiled by Amresh Anjan
Karnataka Govt Gives No Guarantee On Employment A recent report by the Centre on the progress of national rural employment guarantee scheme in the country has found that barring conflict-ridden Jammu & Kashmir, Karnataka has been ranked last among all major states in the implementation of the programmes. Even in absolute terms, tiny states like Tripura have generated more MGNREGS work than Karnataka; points out the report prepared by the Union Ministry of Rural Development. Only 11 per cent of the budgeted households have received work under the scheme in the State. Out of 40 lakh households budgeted to receive the work, only 4.5 lakh have been engaged in work so far. A more depressing picture emerges when the metric of total man days of work provided is considered. A target of only five per cent of the budgeted man days has been achieved till October this year. The corresponding figures for Andhra, Kerala, and Tamil Nadu are 60,30 and 74 per cent
Source : 20-12-10 Deccan Herald Compiled by Amresh Anjan
Taking Stock Of Jobs The results of the 64th round (annual) of the NSS survey report Employment and Unemployment Situation in India,have generated a lot of interest. The workforce participation rates (WFPRs) thrown up by the survey have been compared with the 61st round of the NSS (quinquennial) to suggest that there has been a deceleration in the rate of job creation during the intervening three years. It has also been suggested that the decline in the WFPRs shown by the 64th round is a proof of that and the high employment growth rate in the period from 1999-00 to 2004-05 was driven by agrarian distress.
Source : 23-12-10 Indian Express Compiled by Amresh Anjan
Stressed-out Entrepreneurs Fuel Engine Of Economy Entrepreneurial Business Stress Levitates An overwhelming 40% of entrepreneurs in India have declared that their stress levels have risen markedly in the past two years, clearly indicating that the difficult economic environment of the past two years has not only left a mark on business attitudes but also on the entrepreneur's personal lives. However, stress level among entrepreneurs globally is 46%.The increasing stress levels among entrepreneurs of Small and Medium Enterprises (SMEs), vital for Indian economy clearly identify that their personal lives are closely tied up with their business lives. The survey, conducted by global work-place solutions providing leader, Regus canvassed the opinions of over 5,000 entrepreneurs in 78 countries asking them about their recent revenue and profit trends, along with their main concerns and causes of stress in the past years.
Source : 22-12-10 India Infoline Compiled by Amresh Anjan
Nasscom To Create Database Of Technological Start-ups The National Association of Software and Services Companies (Nasscom) is for the first time planning to list technology start-ups. By doing so, it believes, start-ups can be tracked and it will help aid their growth. The process is expected to begin from January and would be done by a private entity, which will collect the information across the country. Nasscom will look at two ways of raising the start-ups. The first will be voluntary, wherein companies can come and register the details with Nasscom for free. The second way is by tracking their life events, such as fund-raising activity or release of products or services. The list will track the number of start-ups annually, those successful and those which met with failure. It will also track which sectors these belong to and the revenues they generate. The IT industry body expects this exercise will also ease the information needed by funding institutions.
Source : 23-12-10 Business Standard Compiled by Amresh Anjan
India Is Still the Favourite Destination For Outsourcing, China Catching up India is still the world's favourite destination for offshore outsourcing, but attractive cost structures in the Philippines, Vietnam and Indonesia and the rapid growth of the business in China are posing tough competition, according to a new study by Gartner Inc. In the study, the IT research and advisory firm identified the Top 30 countries around the world for globally sourced activities in 2010-11, rating them on the basis of 10 criteria's .Many organisations that choose to move IT services to lower-cost countries are daunted by the task of determining which country, or countries, would best suit their requirement. Gartner conducted an analysis of these countries to assess their capabilities and potential as offshore services locations, it said. India retained its position as the most successful country among global offshore locations, as per the Gartner study. It scored well across all 10 criteria. While its cost-competitiveness is being challenged due to the rising rupee, this is compensated by its strength in other areas, as per Gartner's study.
Source : 21-12-10 NDTV.com Compiled by Amresh Anjan
IIT-B Launches Online Module To Train Teachers In December 2009, the Indian Institute of Technology Bombay (IIT-B) started training faculty members from engineering colleges via satellite television. On 20 December, they launched an online national-level teacher training empowerment programme. The institute has tied up with Tamil Nadu-based Amrita University for the online module that will have over 1,000 teachers from 500 engineering colleges across the country participating through 32 nodal centres. The current workshop is two weeks long and focuses on database management systems. This is the first time that a course of this scale is been conducted for over 1,000 participants.There are three lakh students who learn database management systems and there are 15,000 teachers who teach it. Therefore, there is a need for trained faculty.
Source : 21-12-10 Hindustan Times Compiled by Amresh Anjan
Financial Times Names Steve Jobs As Person Of The Year Apple CEO Steve Jobs has been titled as Person of the Year by Financial Times. Widely known as the 'visionary' for Apple products, Jobs is said to have taken crucial decisions to bring out best products that ooze perfection for this decade in mobile and computing segment. Three years ago, Apple's iPhone changed the way we interact with the phone and then followed the iPod touch which put many portable media players behind in the competition. Earlier this year we saw the 9.7-inch screen bearing iPad tablet that continues to be the top searched term, heavily admired, and secretly desired product of this year. Steve Jobs has been credited for continuously tapping the demand with rolling out right gadgets perfected to suit average user's requirements at the right time
Source : 24-12-10 Techtree.com Compiled by Amresh Anjan
Extend US Visa Fee Hike Two US senators have sought modifications in a 9/11 compensation related bill, seeking to extend the increase in hike on H-1B visa and L1 visa fees for another six years and impose excise on some foreign companies to fund free treatment of 200,000 Americans living with health problems contracted while working at the Ground Zero. The New York Senators – Kirstin Gillibrand and Chuck Schumer have moved for changes in the senate to the James Zadgora 9/11 Health and Compensation act to extend the increase up to 2021 the fee hike on H1-B visa and L1 visa that are much saught after by skilled Indian professionals.
Source : 23-12-10 Hindustan Times Compiled by Amresh Anjan
ITC Board To Get Two More Directors ITC, the tobacco-to-hotels major, is readying to create its next generation of leaders .Earlier this year, Mr. Kurush Grant was appointed an additional director, as Mr. Anup Singh retired. Yesterday's board meeting decided to appoint two more. Mr. Nakul Anand and Mr. Pradeep Dhobale are to be inducted as additional wholetime directors from January 3.
Source : 24-12-10 Business Standard Compiled by Amresh Anjan
Banks Oppose Granting New Licences To Business Houses Banks have opposed corporate houses being given banking licences due to "unsatisfactory past experiences".In their feedback to the Reserve Bank of India's (RBI's) discussion paper on new licences in August, banks said it would also create an uneven playing field due to the large capital buffer that would be available to banks sponsored by industrial or business houses. It was also suggested that real estate companies should not be barred from entering the banking sector. This is because businesses such as steel, textiles, petrochemicals and oil & gas are far more vulnerable to deep and prolonged cyclical downturns than real estate.
Source : 24-12-10 Business Standard Compiled by Amresh Anjan
Ramu Deora Is New FIEO President The Federation of Indian Export organization (FIEO) has elected Mr. Ramu S Deora as its new president and Jayant Kumar Jain as vice president. Deora is the chairman of Mumbai based G Amphra laboratories, replaces Mr. A. Sakthivel as the president of the FIEO
Source : 24-12-10 Hindustan Times Compiled by Amresh Anjan
10-15 mn Job Creation Expected In India by Next Year: Assocham As many as 10 to 15 million jobs are expected to be created by next year on account of the rapid economic growth in the country, Assocham claimed. About 75% of these new jobs would require vocational training to enhance the employability wrapper. Assocham also stated that the Indian economy recorded 8.9% growth in the first half of the current fiscal. The government's Mid-Year analysis projects the economy to grow by up to over 9% this fiscal.
Source : 26-12-10 Hindustan Times Compiled by Amresh Anjan
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