Business Roundup # Week 38

Business this week


Salary Hikes May Get Better 

Salary hikes may be on their way up marginally next year after hitting an eight-year low this year, according to a survey, a report reveals.

Employees may get a projected average increment of 9.6 per cent, up from 9.4% this year in the upcoming appraisals, says a survey by human resources consultancy Acon Hewitt. This reflects the general optimism on business performance among services and manufacturing companies, the India Salary Increase Survey added.

Launch Time Advanced

Apple is advancing its India launch time for its new iPhone 8 and iPhone 8 Plus to 6pm on September 29 to gain maximum sales advantage, says a report.

This marks a change in Apple’s policy of always launching its new products late evening or midnight. The company is ensuring that the new iPhones are available at more than 10,000 retailers across the country.

Amazon Creates Jobs

Amazon India has created more than 22,000 seasonal jobs across India for the upcoming festive season, according to a report.

The additional jobs include in categories like fulfilment, sorting centres, delivery stations and customer centres in Mumbai, Delhi, Hyderabad, Chennai and other cities.

GST Blow For Cigarette Sales

The introduction of the GST has dealt a blow to India’s legal cigarette volume, according to report.

The sales volume fell 8-95% due to the steep increase in cess under the Goods and Services Tax (GST). Sales declined over many segments, with the maximum fall in the entry and premium-end categories bearing the maximum brunt of the cess hike.

Snacks Brand Unveiled

Pepsi bottler R J Corp, which is promoted by Ravi Jaipuria, has set up a potential rivalry with its long-term ally PepsiCo by launching its own snacks brand.

The snack brand, Kaabuli, will be of the salty variety, similar to offerings by PepsiCo ‘s Kurkure brand.  However, R J Corp denied that it was competing with PepsiCo.  It said its snacks were priced at entry level and would not compete with PepsiCo’s value-added products.

Ola App Revamp

Ola is revamping its mobile application in a bid to woo more customers and move towards profitability, says a report.

The move comes as Ola and Uber are locked in a battle in the country, with both claiming leadership in the cab segment. The new app, to be called Ola Instant, will be focused on bookings being completed within one to two touches and will be more intuitive based on past user behaviour.

Nestle Reduces Sugar

Nestle India has cut the amount of sugar in its Milkybar chocolate and increased the milk content in its bid to produce healthy products, a report reveals.

With this move, the milk content is increased by 8% to one-third of the chocolate bar, reducing the sugar content by 8%, an official said. Other than the calories, Nestle is also controlling portion sizes across its portfolio, he added.

Anushka Fashion Line

Actor Anushka Sharma is building her own clothing line for women in partnership with Suditi Industries, according to a report.

The details will be revealed at the end of the month and the products will be available from the first week of October. It will be an equal joint venture and involves an investment of $10 million over the next five years.

Connaught Place Expensive

Connaught Place in New Delhi has been ranked as the 10th most costly office location in the world, according to a report.

The annual prime rent rate in Connaught Place is $111 per sq ft, says CBRE South Asia’s Prime Office Rents survey. Mumbai’s Bandra-Kurla Complex stands 16th with annual prime rent of $84.10 per sq ft and Nariman Point 30th at $64.7 per sq ft. Hong Kong is the world’s most expensive.

Babu Kalyanpur

Babu Kalyanpur, ( Consulting Editor) has rich experience in both sports and business journalism. Babu has led news desks in Pune and Bahrain and writes extensively on his passion, sports and business besides current affairs and matters of importance to Pune.

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