India ranks 103 in the Global Human Capital Index; the lowest ranks among BRICS nations

India has been placed in the low rung of 103th position on World Economic Forum (WEF)’s Global Human Capital Index and it is also the lowest among other BRICS nations (Russia at 16th place, China at 34th, Brazil at 77th and South Africa at 87th. India falls behind even Sri Lanka (70) and Nepal (98) and stays slightly ahead of Bangladesh (111) and Pakistan (125). Though last year, it was in 105th place.     

According to the Economic Times, “India is held back by a number of factors, including low educational attainment (primary education attainment among 25 -54 year olds is 110th for example) and low deployment of its human capital, meaning the skills available are not getting put to good use… India faces a number of challenges but looks to be moving in the right direction,

The Geneva based WEF’s report assesses 130 countries on how they are developing their human capital on four parameters – capacity, deployment, development and know-how and five different age groups – 0-14 years; 15-24 years; 25-54 years; 55-64 years; and 65 years and over. The scale of assessment ranges from 0 (worst) to 100 (best).

This year Norway has topped the list followed by Finland and Switzerland in the second and third position respectively. Last year Finland had secured the top position.

News Source: Economic Times, Business Standard

Image Source: Financial Express

Bharati Airtel and SK Telecom join hands to bring advanced telecom network in India

India’s telecom major Bharti Airtel is forging a strategic alliance with South Korean telecom operator SK Telecom to build the most advanced telecom network in India. The two companies will work on advanced technologies like, NFV (network functions virtualization), SDN (software defined networking), IoT (internet of things) and improving 5G network standards. This collaboration will help in identifying, monitoring and delivering improved network facilities to the customers; give out high speed mobile data, which will act as a boon in today’s fast paced life.

According to the Hindu, Sunil Bharti Mittal, Chairman of Bharti Airtel said, “This partnership will bring a dramatically improved experience to Airtel customers in India by leveraging the expertise of a company that has built one of the best mobile broadband networks in the world”.

SK Telecom is Korea’s largest telecommunication company with near about 29 million customers. SK Telecom has been a leading force in the development of the global mobile telecommunications industry that has launched CDMA (2G), WCDMA (3G) and LTE-A (4G) for the first time in the world. In addition, the company has been using carrier aggregation technology to offer up to 500 Mbps 4G speed.

Sources: The Hindu, Moneycontrol

 

HDFC beats TCS in terms of market capitalization

Private lender HDFC has beat India’s largest service exporter TCS to the top in terms of market capitalization. In other words, market capitalization is the value of a company that gets traded on the stock market, which is then calculated by multiplying the number of shares in total by the current share price on the stock market.

According to reports, HDFC’s shares jumped up 53% this year and have been consistent every quarter. On the other hand, TCS’s shares have plummeted to a 4% growth, courtesy the slowdown in the IT sector.

This morning, the banks market value stood at Rs 4,71,323 crore, while TCS was not far behind at Rs 4,70,780.75 crore.

“HDFC Bank has a pre-eminent presence in the retail banking segment (50 per cent of loan book) and has been able to maintain strong and consistent loan book growth, gradually gaining market share. Going forward, economic recovery and improvement in consumer sentiment would be positive growth drivers for the bank’s loan growth, which will in turn drive its profitability, said brokerage Sharekhan in a note as reported in the Economic Times.

As of today, Reliance Industries Ltd is still the country’s most valued firm with a market cap of Rs5,33,818.72 crore and HDFC Bank at the second place, followed by TCS, ITC (Rs3,35,993.75 crore) and HDFC Ltd (Rs2,84,580.02 crore) in the top five list.

Sources: Firstpost, Economic Times

Image source: Livemint

Google files an appeal to challenge 2.4 Billion Euro fine

Internet giant Google has yet another bone to pick with the European Union. On Monday, Google filed an appeal at a court in Luxemburg, challenging a whopping 2.4-billion euro fine slapped by the European Union anti-trust authorities, that accused the tech giant of favoring its own shopping services in its web browser search results.

A source from Google confirmed the appeal as per reported in Wionews.com. EU had slammed Google in June for favoring its own shopping centers and had given the company 90 days to comply to the appeal.

However, the attempts made by Google to revoke the fine will not serve well. Google will have to invariably pay up.  Instead of which, it can put the amount in a blocked account until the final verdict. Last week, Google also notified EU that it would attempt to meet the demands of the appeal.

In 2009, EU had also filed a similar case to the tune of 1.06 billion Euros on the US chip producer Intel, alleging monopoly in the market by Intel.

This legal battle will extend the existing seven-year tussle with the EU, in addition to a failed effort to settle, that would perhaps affect the crux of Google’s business model.

In the future, EU is expected to develop another case against the tech giant Google for abusing its dominance of internet search to deliberate upon its Andriod mobile operating system.

News Source: ET, Business Standard

Image Source: ET

Adidas India holds the top position in sportswear market

 

Adidas India again raised its flag over Indian sportswear market as it has witnessed a growth in revenue by 22% year on year for the financial year ending March 31, 2017. This has been the fastest growth by any major sports brand in India and now Adidas is 20% larger than any of its nearest market competitor as stated after the audit of Financial Year 2016-2017.

The company which has been consistent across all its popular categories like running, training has also recorded the highest ever profit from a single financial year by touching the figure of almost INR 95 crore (PAT) in financial year ended March 31, 2017.

They more than doubled their profit from previous year and raised the difference significantly than the other major sportswear brands in India also becoming the most sought after athleisure brand for millennial generation.

Reebok, which is a part of the Adidas brand also continues to perform remarkable in the market with witnessed growth of 16 percent year on year. Both the leading brands continue to explore the Indian sportswear market with different customer centric strategies and initiatives as they plan to open stores across the country in coming months to meet the demands and create a new and improved user experience.

Sources: ANI, Business Standard

Image source: The Indian Express

 

SC orders Jaypee Associates to pay Rs 2,000 crores in insolvency case

On September 11, Supreme Court ordered real estate firm Jaypee Infratech, an arm of Jaiprakash Associates Limited to deposit 2000 crore, in relation to an insolvency case. Jaypee Infratech has defaulted on Rs. 526.11 crore of loans outstanding to IDBI Bank Ltd. It is one of the 12 large corporates that the Reserve Bank of India has pushed into the insolvency court under the Insolvency and Bankruptcy Code.

The apex court has also restricted the managing director and chief executive of Jaypee Infratech and Jaypee Associates from leaving the country and has asked the conglomerate to seek permission before selling any property. Additionally, SC has dismissed proceedings against the real estate company in other forums like Consumer Commission.

Furthermore, the court has asked the Interim Resolution Professional, a body set up by the National Company Law Tribunal, to take over the management of Jaypee Infratech. As per the report in Money Control, around 32,000 homebuyers, who have not yet been given their flats as promised by Jaypee, are facing uncertainty over their investment in housing projects due to the insolvency case.

The next hearing has been set for November 13.

Source: Money Control, Business Standard

Image Source: Hindustan Times

Supreme Court orders Jaypee Associates to pay 2000 crores in insolvency case 

 

On September 11, Supreme Court ordered real estate firm Jaypee Associates to deposit 2000 crore, in relation to the insolvency case against Jaypee Infratech. The next hearing has been set for November 13.

Jaypee Infratech, which is a subordinate of Jaiprakash Associates Ltd. has defaulted on Rs. 526.11 crore of loans outstanding to IDBI Bank Ltd.  It is one of the 12 large corporates that the Reserve Bank of India has pushed into the insolvency court under the Insolvency and Bankruptcy Code.

The Court has also restricted the managing director and chief executive of Jaypee Infratech and Jaypee Associates from leaving the country and has asked JP Associates to seek permission before selling any property. Additionally, SC has dismissed proceedings against the real estate company in other forums like Consumer Commission.

Furthermore, the court has asked the Interim Resolution Professional, a body set up by the National Company Law Tribunal, to take over the management of Jaypee Infratech.

As per the report in Money Control, around 32,000 homebuyers, who have not yet been given their flats as promised by Jaypee, are facing uncertainty over their investment in housing projects due to the insolvency case.

Sources: Business Standard and Money Control