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Posted by on Jun 1, 2012 in Business | 0 comments

Galaxy S3 launched in India for INR 43,180, aims capturing 60% of market share

Galaxy S3 launched in India for INR 43,180, aims capturing 60% of market share

Bollywood actress Nargis Fakhri at the launch of SamsingGalaxy SIII in New Delhi on Thursday.(PTI) Samsung, Korean electronics giant launched the latest Android super phone in India for Rs 43,180. Samsung said it expects to capture 60% of Indian smartphone market this year with a range of handsets including its lates Galaxy SIII. Samsung India Head(Mobile,IT) Ranjit Yadav told reporters here, “According to third party data, we have over 46 per cent share in the Indian smartphone market. We are confident of increasing this to 60 per cent this year,” He also said, The Indian smartphone market is pegged to grow to about 18 million units in 2012. Samsung has launched 10 new mobiles in the first four months of this year including the new dual sim Android phones like Galaxy Y  Duos and Galaxy Y Pro Duos, taking the basket to 19 in the price range of between 7,830 to Rs 38,290 and has added S3 to the top end with the price of 43,180. Samsung is launching different...

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Posted by on May 28, 2012 in Business | 0 comments

R Thyagarajan,Shriram Group founder bets on math for success than on B-school grads

R Thyagarajan,Shriram Group founder bets on math for success than on B-school grads

R.Thyagarajan at 75 is still energetic as he was before four decades when he started the Shriram Group. The finance company has loyal customer base who was benefitted from the company’s used truck financing system. His Shriram Group was one of the few non-banking financial companies that survived stringent norms imposed by Reserve Bank of India (RBI) in the late 1990s to control fraud.He has never been overwhelmed by private equity(PE) – scores of whom have invested in his group companies- while the evidence in other business groups is different. In two years, if his latest prediction is on the dot, Thyagarajan might be able to add one more to this list. And that is: “We will make the biggest profit in the general insurance industry in 2014.” Then for effect he says,”No other company can come close” Why is the usually forecast-shy Thygarajan so certain about this? “Because,” he says, ” I am a mathematician.” Thyagarajan, who did his masters in math from Indian Institute of Statistics more than half a century...

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Posted by on May 14, 2012 in Business, Corporates | 0 comments

Yahoo CEO Scott Thompson quits over fake degree row

Yahoo CEO Scott Thompson quits over fake degree row

Scott Thompson quit as Yahoo’s CEO due to the pressure raised from the issue of fake college degree.An activist member of the company found that Thompson had submitted incorrect documents regarding his college degree. As per the documents submitted by Thompson, he received a degree in accounting and computer science from Stonehill college in the year 1978. While the man did receive his accounting degree from Stonehill, the college claimed that a computer science program had not started until 1983.According to a report in Mashable, the headhunter submitted a copy of the resume that Thompson had provided them with at the time and the fake degree was on that resume, Thompson’s removal from Yahoo! is allegedly not because of the degree manipulation, but the way in which he handled the scandal when the truth came out. Many Yahoo! staffers, engineers and higher executives have called for his dismissal. In a press statement, the company has said that the Board of Directors have chosen Fred Amoroso as the chairman of the Board...

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Posted by on Mar 15, 2012 in Business, Law | 0 comments

Bombay HC: Reconsider MCX-SX application;Setback to SEBI

Bombay HC: Reconsider MCX-SX application;Setback to SEBI

In a rare occasion where an action of a regulatory body is found contrary to law, Bombay High court has directed the Securities Exchange Board of India (SEBI) to reconsider within one month, the application of nation’s biggest commodities bourse, Multi Commodities Exchange (MCX) to set up an exclusive stock exchange with independent trading platform. SEBI had earlier rejected MCX’s application to float the exchange in 2010. SEBI rejected the application on the grounds that “it wasn’t in the interest of trade and public to allow the application” and said the rules of MIMPS (Manner of Increasing and Maintaining Public Shareholding) were violated, which mandates promoters of the exchange to hold only 5% stake. The court noted that a genuine attempt has been made by the promoters to keep the stake less than 5% and speculation cannot be used as evidence against the application. “The mere possibility of a hypothetical situation cannot result in the invalidation of the transaction which is otherwise lawful” quoted the judgment. However the court...

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Posted by on Mar 7, 2012 in Business | 0 comments

Dampened Congress may drag India to a period of economic instability

Dampened Congress may drag India to a period of economic instability

If the drubbing that Congress received with the results of 5 state elections was any indication of the trend to follow till 2014, Congress may well be out of power in the next 2 years. While it retained Manipur and just managed to claim government in Uttarkhand, it lost heavily in Punjab & Goa and in UP it was just short of a disaster. If political equations get more complex, then UPA can be unseated even before it completes the term. What this means to the country’s economy which is already going through a tough phase is critical. While other parties too performed badly in Uttar Pradesh, Congress stands out as the biggest loser. It is because of two reasons. One, its prime crowd puller who was widely banked upon to deliver and revive the party in Hindi heartland, Rahul Gandhi, has failed miserably. That will seriously dent Congress’ position on he leading the party and in governance and he may not enjoy the same confidence from the stakeholders....

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Posted by on Mar 4, 2012 in Business | 0 comments

Negative tax list, FDI, GST primary focus points of Budget 2012-13

Negative tax list, FDI, GST primary focus points of Budget 2012-13

Next 2 weeks will be very carefully watched by analysts and markets as Railway budget is to be presented on Mar 14, a key monetary review meeting is scheduled by RBI on Mar 15 and the Union Budget is to be presented on  Mar 16. 2011 was a very rigid year for economies around the world. Lack of turnaround announcements or big ticket business decisions is understandable given the tight credit regime that existed. Whole of Europe sparing Germany was in “not-so-healthy” mode and we witnessed a lot of political turmoils, uprising and resignations. India however, thanks to its internal consumption did not experience alarming growth problems. But the inflationary pressures and dampened export added to a devalued rupee that further hiked procurement rates which kept the industry in check and led to a large fiscal deficit for the government. The Union Budget 2012-13 is, therefore, a very important opportunity for the government to provide the necessary fillip to growth, which has been lackluster for the last one year....

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