Wednesday, 4 September 2013

NEWS WRAP - SEPTEMBER 04, 2013

  • Microsoft, which has bought Nokia for 5 Billion Euros, to slash prices of Nokia Smartphones in India to regain its lost market.
  • V Balakrishnan to rise in Infosys: Elevation as CEO near certain if SD Shibulal decides to give up post.
  • Kingfisher Airlines CEO Sanjay Aggarwal gets Rs. 4 crore pay package even as headcount halves.
  • Environment Ministry levies Rs. 200 crore fine on Adani Group's Mundra Port and SEZ for damaging mangroves and local environment.
  • Etihad likely to complete 24% stake in Jet Airways by September 20 as it is expected to get all regulatory clearances by then.
  • 2 Vadodara based Companies Gacl and Prakah Chemicals bag award from CHEMXCIL; former company awraded Gold for Export Performance while the latter bags Platinum.
  • Lanco Group cuts down 4000 employees due to slowdown.
  • America's iconic Women Apparel Brand 'The Limited' plans India foray by opening 5 stores next year.
  • Italian Luxury goods firm 'Bulgari' plans to set up exclusive retail stores in India; ready to play second innings after ending JV in 2011.
  • Finance Ministry nudges Coal India to buy-back 5% of its Shares.
  • Microsoft-Nokia Alliance - A Death Knell for Blackberry.
Source: Economic Times

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