Business Roundup # Week 50

Business this week
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Graduates To Be Hired

Samsung India is planning to hire 2,500 engineering graduates from top institutions in the country over the next three years, says a report.

The company has launched this major drive to boost research and develop talent. The new recruits will be for new-age domains like artificial intelligence, big data and biometrics among others.

Xiaomi Mulls Plants

Xiaomi India is eyeing more plants as it seeks to add capacity for manufacturing phone and products in other categories, according to a report.

The firm has two plants in Sri City, Andhra Pradesh and for phones and one in Noida for power banks. The company has invested 3,000 crore rupees in India until the beginning of the year.

IATA In Privatisation Warning

The International Air Transport Division (IATA) has warned governments across the world on privatising airports to fund growth, says a report.

This will be specifically significant for India as the country is planning to build airports through private sector participation. An IATA official said that they are yet to find instances of total airport privatisation successes.

Merger Fast-Tracked

The Idea-Vodafone merger is being fast-tracked and it could be sealed before the September 2018 deadline, a report reveals

The two companies are merging to create the country’s biggest phone company with more than 400 million customers.

IPL Spending Up

The eight franchises participating in the Indian Premier League (IPL) cricket tournament next year will end up spending 480-640 crore rupees on players alone, according to a report.

The IPL Governing Council has raised the player cap for the franchises for the next three years.  The franchises are now allowed to spend up to Rs 80 crore rupees in 2018 compared to 66 crore rupees in 2017. They will be further allowed to spend 82 crore rupees in 2019 and 85 crore rupees in 2020.

Railway Incentive

The Indian Railways is planning to offer incentives to passengers who use cashless mediums to pay for their tickets, says a report.

The Railways are planning to extend the 0.5 per cent discount on monthly travel pass for payment through debit and credit cards to unreserved categories. It will also add free insurance to tickets bought cashless

Phone Prices To Fall

The prices of entry-level 4G phones are likely to drop in January, according a report.

The cost of the phones may decline to 2,500 rupees from about Rs 3,000. This comes as firms like Micromax Informatics and Lava International plan to use the new Android Go platform which is meant for low-cost devices with memory between 512 MB and one GB.

Cars To Get Costlier

Carmakers are planning to raise prices of their models to absorb input costs from January, a report reveals.

However, the two big car companies, Marti Suzuki and Hyundai Motor India, say that they do not plan to increase the cost of their models.

Reliance Retail Plan

Reliance Retail is seeking to expand its business-to-business plan by entering in to the distribution of apparel, FMCG and white goods directly to kirana stores, says a report.

The company’s aim is to tap a larger section of the market to increase growth in organised retail, currently standing at 8% of the total market.

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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