52 posts tagged “from:- the articles i read”
But Shareholders Needn't Hope For Payouts As Co Intends To Retain Earnings
Deepshikha Monga & Harsimran Singh
NEW DELHI
General Atlantic and Oak Hill have made a 200% premium on the $500-million investment made in acquiring a 62.63% stake in Genpact during 2005. The PE firms sold an 8% stake on Thursday, netting $152 million. After the IPO, their combined stake of 52% is worth $1.5 billion. GE, which got $95 million for a 5% stake dilution on Thursday, can now encash its remaining 23% stake for $667 million. However, there will be no dividends for Genpact stockholders.
''We currently intend to retain all of our future earnings, if any, to finance the growth and development of our business....As a result, we do not anticipate declaring or paying any cash dividends... in the foreseeable future,'' the BPO company said in its SEC filing.
deepshikha.monga@timesgroup.comPowered by Zoundry
New York-based fund, Berggruen Holdings, which manages proprietary capital worth over $1.5 billion, plans to invest over $300 million in India over the next three years in hospitality, real estate, education, car rental, construction equipment leasing and logistics businesses.
Of this, the bulk—around $200 million—would go into real estate projects spread across commercial, residential and retail spaces, while the remaining would be for setting up 40 budget hotels across the country. The fund also made a foray into equipment rental business by picking up around 90% stake in a Mumbai-based company for around $10 million. It also invested a similar amount for its car rental business.
For its foray into education business, Berggruen Holdings has partnered with a group of hospitality professionals to offer short and long term specialised programmes through 50 training schools across the country. Apart from the hospitality sector, the education business would also focus on offering specialised training in sectors such as retail, aviation and tutorials.
Kabir Kewalramani, managing director, BH Advisors, which manages Berggruen Holdings’ investments in India, told ET that the fund has already made investments worth $60 million in the real estate space. It has recently co-invested in an 125-acre mixed-use property in Mohali, near Chandigarh, and is part of an IT park project in Hyderabad. A typical deal size in the real estate space is likely to range between $30-50 million. “We hope to invest around $200 million in the real estate space in the next two years,” Mr Kewalramani said.
Earlier this year, the fund had announced plans to launch its budget hotel brand in India, Keys, with an investment of around $100 million over a three-year period across 40 sites. The first property is expected to be operational by the year end at Goa. Construction is currently on in at least three sites, including Trivandrum, Bangalore and Kovalum.
Berggruen Holdings is a private company, with interests in private equity, stocks and bonds, hedge funds, art and real estate, which manages funds of the Berggruen family.
Source: Economictimes.indiatimes.com
NEW DELHI: India received a record $3.8 billion loan sanctioned by World Bank - the largest ever to any single country so far. This is 169% increase over last year's lending at $1.4 billion.
The loan will include concessional International Development Association (IDA) credits of $2.32 billion and International Bank for Reconstruction and Development (IBRD) credits of $1.5 billion.
In addition to this, private sector arm of the World bank, IFC, has funded $700 million in different projects in India.
So far, IDA has supported India with $11 billion through 62 projects. 28% of the IDA lending has gone for rural development, 26% to health and nutrition and 20% to education.
A major portion, $1.6 billion, of the world bank's total loan will support government's rural development initiatives and one third of IBRD lending for infrastructure including components of Bharat Nirman.
Two major projects were approved in the restoration of water bodies segment. The project of renovating and restoration of water bodies in Tamil Nadu and Andhra Pradesh have been sanctioned $450 million and $189 million respectively.
These projects are community based programmes which empower the community, increase productivity and enhance the profitability of agriculture, horticulture, fisheries and livestock.
NEW DELHI: Better performance by steel, cement, petroleum products and electricity sectors helped six core infrastructure industries clock a year-on-year growth of 8.7 per cent in May.
The performance of the four sectors made up for a decline in production of crude oil and drop in growth rates of coal in May. It also helped the Index of Key Infrastructure Industries climb to 234.1 from 215.3 in the same month last year, when the growth was 7.2 per cent.
The performance in May also helped the overall growth figures in first two months of 2007-08 to touch 8.1 per cent. In April, the index had risen 7.4 per cent.
NEW DELHI: It's the latest buzzword in outsourcing and soon it may touch your life personally. For outsourcing is fast transforming itself from being a multi-people oriented activity to an individual one.
And the new word for it is PPO or person-to-person outsourcing. Already, it's generating revenue worth $250 million annually worldwide, and by 2015, it's expected to be worth $2 billion.
Interestingly, in India, PPO generates revenue worth $65 million annually, but it's expected to touch $500 million by 2015. An eight-fold increase in nine years at a cumulative growth rate of 26%. Although still in its infancy in India, PPO will take another 3-4 years to establish here.
So what's PPO? It consists of those services that are offshored by individual entrepreneurs who are trying to bootstrap their new organisation as efficiently as possible. With technology advances and the growth of the Net, small offices, home businesses and freelancers can utilise PPO services and generate business.
The new trend has been captured by Alok Aggarwal, chairman, Evalueserve, a global research and analysis firm, in his latest paper, 'Person-to-Person Offshoring - Offshoring of Services Reaches Small Businesses and Homes'. Aggarwal says it's simply a different level in offshoring and not the 'next level' or 'previous level.' "This trend shows that because of lower phone tariffs and internet costs, even freelancers can get on the offshoring bandwagon and make money."
Currently, PPO includes services like online tutoring, website development, graphic designing, software development, writing and translation services, accounting and tax preparation services, architectural services, etc. A paper by Alok Aggarwal, chairman, Evalueserve, a global research and analysis firm, predicts as the trend catches up, more and more consumers will be able to offshore jobs at fairly low cost and deliver on time.
At the moment, there are around five lakh vendors and freelancers from various low-cost countries in the PPO space. Out of these, approximately 30% are from India.
India is also facing competition from traditional outsourcing countries such as Philippines, Russia, Ukraine, Romania, China, Vietnam, even Thailand and Sri Lanka. But we have an edge over others. "The reasons are the same — good English-speaking and analytical skills, etc," says Aggarwal.
As of now, PPO is being done under two business models worldwide. First, direct interaction model where the individual client signs a contract directly with the vendor, who in turn either hires people on a full-or part-time basis or sub-contracts the job.
Although payments can be made through cheques or wire transfers, as the cost of the project is fairly low, clients usually pay through credit cards.
The second is the online marketplace model. Here, vendors enrol in an online marketplace by paying a monthly subscription fee, plus a fixed percentage of the revenue if they win the project. When an individual posts requirements for a new project in the online marketplace, that's communicated to the selected vendor/freelancer.
The client then awards the work to the appropriate person. Aggarwal estimates that currently, there are over 90 online market places.
"Unlike manufacturing, where large companies like Wal-Mart or Target could import from low-wage countries like China or India, inexpensive internet and phone call costs have created a level playing field where even the common man can take advantage of low-cost, white-collar labour around the world," he says. A sign of people power.
LONDON: The fear of large numbers of good quality British jobs being outsourced to rapidly developing countries such as India may be overstated, says a new report published by The Work Foundation.
Despite the rhetoric of an abundance of Indian knowledge workers hungry for British jobs, there is little direct evidence so far of significant job migration, the report finds, setting at rest fears that India is taking away a large number of British jobs.
The report also says that British trade in information and communications services with developed countries such as Germany dwarfs that with India. The Work Foundation is an independent research organisation and consultancy.
The report finds that according to independent analysis just 5.5 percent of all jobs lost across Europe were due to off-shoring activities in the first quarter of 2007. In 2005 the figure was 3.4 percent. Meanwhile jobs in sectors theoretically vulnerable to outsourcing such as call centres have gone up rather than down in Britain.
The report says travel (£626 million) and transportation (£289 million) are the largest services imported from India while computer and information services (£122 million) are only the third largest import.
Britain imports almost four times more computer and information services and over 16 times more business services from Germany than from India, according to the report. India ranks 15th in the list of countries from which Britain imports services.
The report says that labour costs are only one factor in decisions regarding business location. Cultural contexts, in particular the advantage for producers in being located near to key target markets, remains critically important for successful organisations.
Katerina Rüdiger, author of the paper - "Globalisation, a threat for the UK's knowledge jobs" - said: "If you go to an Indian business district you could be forgiven for thinking the whole world is chucking work and jobs at India because of its magical high-skill, low-wage mix. India's high tech sector is indeed booming, but is not 'coming for our lunch' as some of the more apocalyptic commentators have suggested.
"The evidence suggests that while trade in services between Britain and India is certainly rising, it is not happening nearly as fast as is sometimes imagined. An increase from 0.4 per cent to 1.2 per cent between 1995 and 2004 is less of an explosion and more of a slow evolution.
"Technology has always led to people being displaced from some lines of work into others, but what is not happening is a straightforward job migration from North to South, West to East."
Over recent years, the debate about offshore outsourcing has taken on an alarmist tone amid anxiety that lawyers, medical professionals, software designers, actuaries and chartered surveyors were all potential victims of outsourcing.
The report argues that self-serving claims from consultancies and aggressive public relations work by outsourcing companies themselves have tended to drown out the careful analysis of data regarding off-shoring.
Rather than a clearly defined trend of western multinationals off-shoring to save money on labour costs, the report argues that increasingly companies are mixing business models, combining near-shoring, off-shoring and retaining operations close to home. Cultural difference remains a critical component of business models.
Meanwhile, successful Indian companies are setting up and creating jobs in developed western countries and targeting affluent western consumers. Countries that outsource most also tend to be the recipients of most outsourcing.
The top recipients of outsourcing are rich, industrialised countries rather than poor, developing ones, the report says.
The list given below is in no particular order. These are the schools that are generally regarded as the top BSchools in India:
Here is the list of Top business schools in India:
1. Indian Institute of Management, Ahmedabad (IIM A)
Regarded to be the best of the best business schools in India, IIM Ahmedabad. offers four programmes in Management. The PGP - Post Graduate Program (equivalent to MBA), the FPM - Fellowship Program in Management(equivalent to Ph.D), the FDP - Faculty Development Program for Management teachers and Trainers and the MDP - Management Development Program - a refresher for middle and top level managers.
2. Indian Institute of Management, Calcutta (IIM C)
The oldest of the IIMs, established in Kolkatta, IIM Calcutta is amongst the top three B schools in India. The institute offers three full time programs. The PGDM - Post Graduate Program in Management (equivalent to MBA), the FPM - Fellowship Program in Management, the PGDCM - Post Graduate Diploma in Computer Aided Management. The institute also offer part time PGDBM - Post Graduate Diploma in Business Management for managers with relevant work experience. In addition, MDP - Management Development Programs are held in regular intervals for middle and top level managers.
3. Indian Institute of Management, Bangalore (IIM B)
IIM Bangalore offers two year full time PGP - Post Graduate Program in Management (equivalent to MBA) and a FPM - Fellowship Program in Management. Both these programs require the candidate to take CAT. The institute also offers part time non residential PGSM - Post Graduate Program in Software Enterprise Management. There is a separate entrance test for this program. This business school is ranked amongst the top three business schools in the country.
4. Indian Institute of Management, Lucknow (IIM L)
IIM Lucknow offers a two year full time residential PGP - Post Graduate Program in Management and a four year FPM program. Both these programs require a candidate to take CAT. The institute also has an interesting student exchange program where students of this B-School go to premier B-Schools the world over and do part of their education. Students and faculty from these internationally reputed B-Schools in turn visit IIM Lucknow. It is ranked amongst the top five B-Schools in India.
5. XLRI - Xavier Labour Research Institute, Jamshedpur
Xavier Labour Research Institute, popularly known as XLRI was established in 1949 at Jamshedpur. The institute offers two courses at the post graduation level in management - a post graduate diploma in Business administration and a post graduate diploma in Personnel Management and Industrial Relations (PMIR). Online version of the brochure is also available.
6. ISB - Indian School of Business, Hyderabad
Indian School of Business, Hyderabad is emerging as a preferred choice for MBA aspirants who want to pack in the program into a one year course. As it gradually builds up its permanent faculty base, the ISB has created a unique and sustainable visiting faculty model with some of the world’s leading academicians from Wharton, Kellogg, Harvard, Stanford, Chicago, Duke and Texas among others. The school offers a one year Post Graduate Program in Management.
7. FMS - Faculty of Management Studies, University of Delhi
FMS is amongst the top 10 B-Schools in the country and probably one of the two attached to a university amongst the top ten. The full time program of FMS started in 1967. Generally the demand for students is very high where most of the times students being placed within a day or two.
8. Indian Institute of Management, Indore (IIM I)
The Indian Institute of Management, Indore (IIMI) is the latest addition to the IIM community. IIMI has a two-year post graduate programme emphasizing on Experiential learning, IT orientation, and Social Sensitivity. IIM-I offers the following programs viz., (a) The Post Graduate Programme (PGP), a two year programme (b) Management Development Programme. These are held throughout the year. (c) Faculty Development Programme (FDP) is designed to assist in the development of teachers, researchers, and trainers for management education and (d) Executive Post-Graduate Programme (Exe-PGP) a 18-months programme, designed for working executives.
9. Indian Institute of Management, Calicut (IIM K - Kozhikode)
Established in 1996, The Indian Institute of Management Kozhikode, IIMK is the fifth Indian Institute of Management. Its academic programmes encompass a range of long term full time diploma programmes such as the Post Graduate Programme in Management, and a number of short duration executive education programmes. The institute also offers an “Interactive Distance Learning Programme”
10. Jamnalal Bajaj Institute of Management Studies, Mumbai (JBIMS)
The Jamnalal Bajaj Institute of Management Studies, (JBIMS) was established by the University of Bombay in 1965 in collaboration with the Graduate School of Business, Stanford University with the objective of pioneering and furthering post - graduate management education in India. JBIMS has been ranked in Asia’s Top 25 business schools by Asia Inc.
11. S. P. Jain Institute of Management Studies, Mumbai (SPJIMR)
The Institute’s PGDM programme amongst the best in the country offers the following specialisation in the second year (fourth and fifth trimester). Finance Management, Marketing Management, Information Management and Manufacturing & Operations Management. Core subjects normally focus on the basic aspects relating to a particular area of specialisation. In addition, each participant can take courses from another specialization as a ‘Minor Specialization’.
12. Shailesh J. Mehta School of Management, IIT Mumbai (Bombay)
The school commenced its operations in 1995 and has been awarding a full time two year masters degree, a doctoral program in management and Executive Education programs in management. One unique feature of the program is that apart from the regular courses on Finance, Accounting, Operations and HR, SJM SOM prepares for technology management with core courses like Technology Policy, R&D Management and Managing technology transfer. To secure an admission, you need to take JMET, the Joint Management Entrance Test.
13. Management Development Institute, Gurgaon (MDI)
Amongst the top management institutes in India, MDI offers a two year Post Graduate Program in Management. The curriculum is spread over six terms of about three months each. The core curriculum is spread over four terms with the bulk of it covered in the first three terms. MDI has student exchange arrangements with Aarus School of Business, Denmark, CBPA, USA; Copenhagen Business School, Denmark; EDHEC, France; ESCP-EAP and Sciences Po, France; Leipzig Graduate School of Management, Germany; McGill University, Canada; Norwegian School of Management, Norway; Queensland University of Technology, Bangkok; Solvay Business School, Belgium; Universita Carlo Cattaneo (LIUC), Itlay and Warsaw School of Economics, Poland.
14. Narsee Monjee Institute of Management Studies, Mumbai (NMIMS)
NMIMS offers a two-year full-time programme, spread over six trimesters and leading to the degree in Master of Business Administration. Number of seats: 240. Students are admitted to the programme if they meet the required standards of the two stage selection process - Stage I: A written admission test; Stage II: Candidates who qualify at stage 1 will be required to appear for the second stage of selection process like the Group Discussion and Personal Interview.
15. Xavier Institute of Management, Bhubaneswar (XIM B)
XIM Bhuvaneswar, offers the following courses: Post Graduate Programme in Management, Executive Post Graduate Programme in Management, Post Graduate Programme in Rural Management and Fellow Programme Management. The PGP in Management is the flagship programme of the Institute. The courses impart a generalist perspective, in addition to training the students in technical and functional business skills such as accounting, finance, marketing and production.
16. Symbiosis Institute of Business Management, Pune (SIBM)
SIBM, Pune offers a Master’s Degree in Business Administration - MBA Dual Specialization. Specializations include Marketing, Finance, Human Resource, Manufacturing, and Materials & Logistics Management. A total of 120 students shall be selected for this course.
17. Symbiosis Center for Management & Human Resources Development, Pune (SCMHRD)
Please click on above link to visit the Business School site to get more information
18. Institute of Management & Technology, Ghaziabad (IMT)
Please click on above link to visit the Business School site to get more information
19. International Management Institute, Delhi (IMI)
Please click on above link to visit the Business School site to get more information
20. Bharathidasan Institute of Management, Trichy (BIM)
Please click on above link to visit the Business School site to get more information
21. Mudra Institute of Communications, Ahmedabad (MICA)
Please click on above link to visit the Business School site to get more information
22. Indian Institute of Foreign Trade, Delhi (IIFT)
Please click on above link to visit the Business School site to get more information
23. T. A. Pai Management Institute, Manipal (TAPMI)
Please click on above link to visit the Business School site to get more information
24. Loyola Institute of Business Administration, Chennai (LIBA)
Please click on above link to visit the Business School site to get more information
25. Institute of Management Development Research, Pune (IMDR)
Please click on above link to visit the Business School site to get more information
Friday, July 06, 2007 (01:13:23)
NASSCOM seeks opening up of education sector
Chennai: Seeking opening up of the education sector to the corporates, NASSCOM on Thursday said such a move would ensure better industry oriented graduates with specific skill sets. "The education system should be liberalised and allowed to run like a corporate entity like the health sector. This will bring in more investments also," Kiran Karnik, President, NASSCOM told a press meet during a 'HR Summit' held in Chennai. "We can become an international hub for education. Open up the system...Allow equivalents of IITs and IIMs to be set up.We will get international students here, instead of our students going abroad and spend USD three billion for education in foreign universities. In fact, we can generate USD 10 billion if such institutions are set up," he said.
He said long term changes in the education system were necessary- "Substantial reforms are necessary. We need a system by which curriculum can be periodically and regularly updated than updating it every three or five years." While availability of talent was not an issue at all, suitability to jobs was a problem with the industry, he said.
Lakshmi Narayanan, Chairman, NASSCOM said accounting and legal services outsourcing were emerging as good opportunities "The Indian talent pool can make a difference in these areas. We need managerial, base talent to help it grow." Karnik said NASSCOM has come out with a benchmark test like the GRE, which would help companies identify suitable talent to be recruited. The test, NASSCOM Assessment of Competence, has just been started and will be rolled out in five to six states very soon, he added. (PTI)
Saturday, July 07, 2007 (01:50:11)
"This year we will have 4.5 lakh active tax payers, despite the exemption because of which two lakh tax payers would go out of the tax net," Jha said. In the current fiscal, the government expects to garner over Rs 5.5 lakh crore through taxes, comprising of 2.8 lakh crore from the indirect tax basket and Rs 2.7 lakh crore from direct levies.
The service tax would alone be contributing about nine per cent of the government's total tax collection and about 18 per cent of indirect tax collection in the current fiscal, Jha said. He said that this is a very significant achievement considering the fact that service tax was introduced only in fiscal 1994-95, when the collection was just Rs 400 crore.
Presently, there are 100 services which come under the ambit of service tax, he said, adding that the Board would soon come out with a complaint redressal mechanism and issue two master circulars to provide more clarity to the assessee. (PTI)
Sunday, July 08, 2007 (16:50:15)
New Delhi: Aiming at an over three-fold jump in revenue to ten billion dollars, consumer durables major Videocon Group on Sunday said mergers and acquisitions will be key to its plan and it was hunting for prospects in Europe and US. "We are a three billion dollar group now. We intend to become a ten billion dollar group. We have a corporate plan and we will realise it in the next five years," Videocon Group Chairman Venugopal Dhoot said. He said the group's ambition would be possible only by mergers and acquisitions -- a route through which it became the owner of French firm Thompson's picture tube business and Swiss company AB Elextrolux' Indian subsidiary. "Our liquidity position is very good and we have 300 million dollar in cash in our balance sheet," he said, while hinting the group could spend as much as five billion dollars on its M&A activities.
Company is in acquisition mode because of many advantages.Videocon is in strong searchd of merger and acquisition and for that purpose it has put a whole team of around 20 people to identify and study the targets. Asked about funding acquisitions, Dhoot said money was not an issue but getting a good company for takeover, was. "Once a good project is identified funding is easily available considering the image Indian companies has developed in the recent past. We are getting good valuations," he added.
Dhoot said geographies could be anywhere, and the group was already looking at the US and European countries."China is also a good place for expansion. But I think the best opportunity exist in India and after that Brazil and Mexico," he added. (PTI)
