Company News

Bharti Airtel Now Serving Over 300 Million Consumers

Bharti Airtel Now Serving Over 300 Million Consumers

The largest telecom operator in India, Bharti Airtel, has crossed 300 million customers landmark for all services including fixed line, mobile, DTH and DSL in the country. Bharti Airtel also operates in some select markets in Africa.

After humble start in 1995, Bharti Airtel reached 100 million consumers mark in 2009. The next 100 million came pretty quick in 2012. Bharti has become the fourth largest telecom services companies in the world in terms of consumer base.

Citigroup to axe 300 Jobs in Global Markets Division

Citigroup to axe 300 Jobs in Global Markets Division

Global financial giant, Citigroup Inc has announced its decision to cut 200 to 300 jobs in its division handling stock and bond trades in order to cut costs.

The third largest banking firm in the United States is aiming to cut its costs in order to be able to revive its business. The latest cut in jobs will result in about 2 per cent cut in its total workforce of the bank's global markets business, according to the people closer to the matter. The banking giant had a total staff of 251,000 people as of December of the previous year.

Micromax looking to acquire Pantech

Micromax looking to acquire Pantech

India's second largest smartphone marker, Micromax Informatics Ltd has indicated that it is looking to acquire a stake in South Korean counterpart, Pantech Co Ltd in a move to exapnd its presence in the international market.

The low cost handset maker is planning to expand its presence in the upmarket segment of the global smartphone market. Pantech, which is South Korea's third largest smartphone maker, is under a debt-restructuring programme following continued losses due to increasing competition from rivals.

Ruchi Soya Industries launches ‘Sunrich’ sunflower oil

Ruchi Soya Industries launches ‘Sunrich’ sunflower oil

India's largest fast moving consumer goods (FMCG) and edible oil manufacturers, Ruchi Soya Industries Ltd has announced that launch of a premium refined sunflower oil under the brand, 'Sunrich' on Wednesday.

Wal-Mart to set up 50 new cash & carry stores in next 4-5 years

Wal-Mart to set up 50 new cash & carry stores in next 4-5 years

Wal-Mart India, the wholly-owned Indian arm of U. S. retail giant, has announced its decision to set up 50 new cash & carry stores/wholesale outlets in the country over the next four to five years.

Scott Price, president & CEO of Wal-Mart Asia, said that the company would continue to focus on cash & carry format as it was committed as well as excited about its growth plans in the Indian market.

RCom agrees to lease out intra-city fibre network to Reliance Jio

RCom agrees to lease out intra-city fibre network to Reliance Jio

Reliance Communication Ltd (RCom) has agreed to lease out its intra-city fibre network to Reliance Jio Infocomm Ltd for the roll out of its 4G services.

Anil Ambani-led RCom will earn an estimated amount of Rs 5,000 crore from leasing out its fibre optic network to the telecom arm of Mukesh Ambani-led Reliance Industries Ltd (RIL).

The two companies said in a statement that they had signed a master services agreement based on arm's length pricing at prevailing market prices.

Daimler announces top management changes

Daimler announces top management changes

Truck giant Daimler has announced some high-profile changes in the managements of its Asian entities - Daimler India Commercial Vehicles (DICV) and Mitsubishi Fuso Truck & Bus Corp (MFTBC).

Marc Llistosella, the current managing director and chief executive of Daimler India has been moved to Trucks Asia & DICV as head of its marketing, sales & after-sales business. He will keep on reporting to Daimler Trucks Asia chief Albert Kirchmann, who is also the president & CEO of MFTBC.

Wipro combines advanced tech and analytics segments into single unit

Wipro combines advanced tech and analytics segments into single unit

Indian IT services provider Wipro has confirmed the organizational restructuring of its business segments and the elevation of Vice President Saurabh Govil as head of human resources.

Wipro announced that it has combined two of its verticals, viz. the advanced technologies and analytics, into a single unit.

The advanced technologies segment was created under the headship of CEO T. K. Kurien to focus on new areas of business for the company. Analytics is a key growth driver for the company, currently contributing nearly 7.2 per cent to its total revenue.

SpiceJet launches three-day-only ticket sale

SpiceJet launches three-day-only ticket sale

Budget carrier SpiceJet on Tuesday announced the launch of a three-day-only sale of tickets for domestic flights with fares starting at just Re 1 (statutory taxes & fees extra).

The low cost tickets will be applicable only on direct flights of the airline's new domestic network for travel starting July 1. Bookings can be made from April 1 to April 3, 2014.

Nokia staff to go on hunger strike on Monday

Nokia staff to go on hunger strike on Monday

Nokia employees have threatened that they would have to resort to a hunger strike in case the handset maker turns the Sriperumbudur, Chennai-based factory into a contract manufacturer or cuts output.

Nokia India has long been entangled in Rs 21,000-crore tax dispute with Indian tax authorities that forced the income-tax department to freeze the Chennai factory. On March 14, the Supreme Court upheld a lower court verdict over the manufacturing facility and ordered the company to give Rs 3,500 crore guarantee before transferring the facility to Microsoft.


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