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Thursday, February 06, 2014

10 India Origin CEOs Control Businesses Worth $350 bn
With Satya Nadella becoming CEO at software giant Microsoft, 10 Indian origin persons holding top posts at global corporations manage businesses worth about USD 350 billion. Nadella, has joined the league of Indra Nooyi, Lakshmi Mittal, Anshu Jain and Ivan Menzes, among many other Indian-origin persons at the helm at large conglomerates headquartered abroad. Nadella will get a base annual salary of $1.2 million as new CEO of Microsoft, but his overall package after taking into account bonus and stock awards may reach $18 million a year besides various other perks.

Huawei Allegedly Hacked BSNL Network, Says Govt
Chinese telecom equipment maker Huawei allegedly hacked state-owned BSNL’s network and the government is investigating the matter, Parliament was informed yesterday. “An incident about alleged hacking of Bharat Sanchar Nigam Ltd network by Huawei, a Chinese telecom company, has come to notice. “The government has constituted an inter- ministerial team to investigate the matter,” Minister of State for Communications and IT Killi Kruparani informed the Lok Sabha, yesterday.

Idea Gains 81 Lakh, Reliance Comm Loses 60 Lakh Users
Idea Cellular has been the biggest gainer of mobile number portability with net additions of 80.88 lakh users, while Reliance Communications lost 60.13 lakh subscribers on net basis till December 31. As per a written reply submitted by Minister of State for Communications and IT Milind Deora, to the Lok Sabha, the top three telcos have gained 1.88 cr users - with Idea topping the list - followed by Vodafone and Bharti Airtel with net additions of 67.19 lakh and 40.16 lakh users respectively till December 31, 2013.

SKS Microfinance To Raise Rs 400 Cr Through QIP
SKS Microfinance Limited is planning to raise Rs 400 cr through QIP route in the next fiscal by diluting a maximum of 20% stake. The company’s profit guidance, which is expected to be at Rs 125 crore in FY 2014-15, comes close on the heels of its recent announcement that there could be a positive surprise in its guided net profit of Rs 55-60 crore for FY’14, the company said in a statement.

Switzerland Tourism To Celebrate “Views”
Switzerland offers views of some of the most magnificent landscapes and scenic beauty. Keeping this in purview, Switzerland Tourism has announced year 2014 as the year of the “Views”. Swiss Travel System has launched a new product to get the best possible “views” in Switzerland – the Swiss Peak Pass. As a part of ‘Views’, Switzerland Tourism will be planning various activities including varied marketing activities for 2014 ranging from consumer reach out programmes, e-marketing, advertising campaigns including TVCs on leading channels and print ads to training programs for travel agents. With the theme ‘Views’ Switzerland Tourism is looking forward to a great 2014 with 10% growth targeted due to steady demand.

Private Sector Output Drops In January, Says HSBC
India’s private sector output contracted for the seventh consecutive month in January as services sector output remained weak amid tough economic conditions, an HSBC survey said yesterday. The HSBC India Composite Output Index, which maps both services and manufacturing, stood at 49.6 in January, below the crucial 50 mark, for the seventh consecutive month. The fall in the composite index was largely on account of drop in services sector output unlike the manufacturing sector which had seen acceleration in production growth in January.

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