6-13/02/2012
ASBM Business Updates is a selective compilation of Business News from various sources. To go to details and original follow the link.
ASIAN BUSINESS
On an annual basis, AWIB honors outstanding Asian women business owners and corporate executives for their success and leadership in the business world and role as champions in the community. Each year, a nationwide search for these leaders are made and an impressive and inspiring group of women are brought to public attention. The 2011 Leadership Dinner took place on October 19th @ the Hilton Hotel New York.
The International Air Transport Association (IATA) has called for the United Nations to broker a deal between airlines and the European Union (EU) on the EU Emissions Trading Scheme. It comes days after China banned its airlines from joining the scheme, which levies a charge on flights in EU airspace based on carbon emissions.
ASIAN MANAGEMENT
Asian stocks rose for an eighth week, with the regional index capping its longest streak of weekly advances since 2005, after the U.S. jobless claims unexpectedly dropped and Greek political leaders struck a deal on a package of austerity measures.
BANKING
AN RBA rate cut will not help credit card users, writes Anthony Keane.
Credit card interest rates remain stuck at high levels and relief is unlikely even if the Reserve Bank of Australia announces an official rate cut next week.
A Your Money analysis of RBA data has found that in the past five years, average mortgage rates have fallen up to 0.9 per cent while the RBA official rate dropped 2 per cent.
Visa has reported a net income of $1.03bn, or $1.49 diluted earnings per share, for the fiscal first quarter of 2012 ended 31 December 2011, compared to $884m, or $1.23 diluted earnings per share, for the same period in 2010.
BUSINESS
ATHENS (Reuters) - Greece's parliament approved a deeply unpopular austerity bill Monday to secure a second EU/IMF bailout and avoid national bankruptcy, as buildings burned across central Athens and violence spread around the country.
The proposal is part of a plan to extend Europe’s five-year-old limits on charges for voice, text and data roaming through 2022 and is likely go to a European Parliament vote by April. The current limits are set to expire in July.
BUSINESS MANAGEMENT
Options for small business financing include loans, grants, investment capital, leasing, or use of personal credit accounts.
A small business may require financing at many different points during its lifetime. Some needs are simple and easy, while others are complex. There are different solutions for each type of small business financing need. Some of the points during a business lifetime when financing may be required are detailed below.
Obama budget: $901 billion deficit in 2013
NEW YORK (CNNMoney) -- President Obama will propose a budget on Monday that forecasts a $901 billion deficit in 2013, and includes plans to make targeted investments in areas like infrastructure while hiking taxes on the rich.
FINANCE
(Reuters) - Greeks swept rocks and broken glass from the streets of Athens on Monday after a night of violence that gave lawmakers a taste of the challenge they face in implementing a deeply unpopular austerity bill demanded by the country's foreign lenders.
States facing shrinking revenues approved $23.9 billion in new taxes and fees in 2010. They imposed a further $6.2 billion in taxes in 2011 and proposed $13.8 billion in new taxes for 2012, according to the National Association of State Budget Officers.
INDIA BUSINESS
Banks with a large network of automated teller machines will now be able to generate additional revenue by advertising financial products offered by other institutions.
With an eye on financial inclusion and to incentivise banks for opening ATMs in remote areas, the finance ministry has allowed bank-owned as well as outsourced ATMs to display advertisements of other financial products.
NEW DELHI: African subsidiary of India's largest telecom firm Bharti Airtel and its two competitors have been penalised for not meeting quality of service standards by sector regulator ARCEP in west African country Burkina Faso.
INDIAN MANAGEMENT
New Delhi: India and China are expected to finalize a mechanism for managing their undemarcated border during the ongoing meeting between the representatives of the two sides in New Delhi, a government offical said on condition of anonymity.
As with almost any government-run company, political interference has been a perpetual source of Air India's problems.
The induction of four representatives from the private sector as independent directors to oversee the national carrier's turnaround was supposed to leaven the weaknesses associated with political control with wise and disinterested counsel.
But last week's controversy over senior appointments, which ended in the dismissal of the chief operating officer of subsidiary Air India Express, Pawan Arora, suggests that at Air India, the more things change, the more they stay the same.
INSURANCE
As President Barack Obama considered a decision on birth control that would turn into an unexpected political nightmare, he heard it from inside and outside his White House: He risked a fierce backlash if he required religious employers to provide insurance coverage for contraception in violation of their beliefs.
The National Health Insurance Company- Daman today announced the referral of a number of cases to the Criminal Court of Abu Dhabi on reasonable suspicion of fraud. The legal action is part of a series of measures launched by the company in 2011 to curb medical insurance fraud and abuse, shielding its 2.1 million members from damages caused by professional misconduct on the part of healthcare providers.
INTERNATIONAL BUSINESS
(Reuters) - Iran has built up its naval forces in the Gulf and prepared boats that could be used in suicide attacks, but the U.S. Navy can prevent it from blocking the Strait of Hormuz, the commander of U.S. naval forces in the region said Sunday.
NEW YORK (CNNMoney) -- The Justice Department charged Switzerland's oldest bank Thursday with helping American taxpayers hide more than $1.2 billion from the Internal Revenue Service.
The case marks the first time an overseas bank has been charged in the U.S. for aiding tax evasion.
LOGISTICS
As 2012-13 contract negotiations begin, container shipping lines in the transpacific are readying themselves for tougher bargaining. Transpacific Stabilization Agreement (TSA) spokesmen said they face estimated 2011 losses in “the billions of dollars across their global networks, including the transpacific trade.”
Sysco shares dipped a bit in early morning trading after news of drooping profits and high inflation.
Sysco’s fiscal second-quarter profits slumped 3% from a year ago to $250 million or 46 cents earnings per share excluding special items. The restaurant supplier saw expenses shoot up by 7.1% or roughly $94 million. This was mainly due to a $58 million increase in payroll.
MANAGEMENT
NEW DELHI—Air India is entering a crucial phase of its long-awaited turnaround that could determine whether the venerable airline escapes from massive losses or slides into decrepitude.
For the past 11 months, Arvind Jadhav, chairman of state-owned parent company National Aviation Company of India Ltd., has been pushing restructuring measures he says are needed to stem a steep decline in the carrier's fortunes caused by the global recession, payments for new aircraft, an entrenched staff, a botched merger and increasing competition.
ODISHA BUSINESS
Bhubaneswar, Jan 13 (PTI) Alleging that Odisha''s coal requirement was not given due consideration, the state government has asked the Centre to review allocation of all the coal blocks in the state.
"It has been observed that almost all the potential coal blocks in Odisha, except blocks earmarked for future use by Mahanadi Coalfields Limited (MCL) and ultra mega power projects (UMPPs), have already been allocated to various companies," official sources said, quoting a letter sent by the state government to the Coal Ministry.
Panchayat Poll: 68% Polling, the Polls Have Been Conducted in 20,289 Booths
Bhubaneswar:In the first round of the ongoing Panchayat polls, out of 854 seats, 194 districts Zila Parisad polling has been ended. The result will be announced after the completion of the polling in all the seats. The candidates affiliated to ruling party BJD seem to be leading. If the reports are to be believed, BJD is leading in majority of areas. Out of the total polling of 194 Zilla Parishad BJD is leading in 133, Congress in 31 and BJP in 6 Zilla Parishads respectively. Independent candidates are leading in 14 Zilla Parishads. The polls have been conducted in 20,289 booths in around 82 blocks covering 30 districts. Approximately 56 lakhs 26 thousand voters have executed their voting rights.
RETAIL
Not long after Deloitte released gloomy predictions for consumer spending in 2012, another firm is out with a more sunny forecast. Retail sales will increase by 5.7% in 2012, according to a new report by Customer Growth Partners, a consulting and research firm serving retailers, vendors and institutional investors.
SUPPLY CHAIN
Growth in store numbers and popularity among shoppers in Australia, together with opportunities to supply company outlets in Asia is putting pressure on beef supply chains working with the Costco warehouse retail chain.
Nokia is restructuring its smart phone supply chain moving assembly out of Europe and the Americas to factories in Asia where most of the components are sourced.
As a result factories in Komarom, Hungary, Reynosa, Mexico and Salo, Finland will focus on smart phone product customization, serving customers mainly in Europe and the Americas. About 4,000 jobs will go as a result.
We welcome your suggestions in improving this information updating service.
Knowledge Is Power. Be Informed, Be Knowledgeable, Be Powerful.
Best wishes
Compilation
Sabita Sahu, B.A., PGDCA, MLISc,
Professional Library Trainee
Concept, Layout and Editing
Rajashekhar Devarai
Chief Librarian
Information and Documentation Division, Chanakya Central Library
Asian School of Business Management
Shiksha Vihar Bhola,
Barang Khurda Road, Chandaka
Bhubaneswar-754012
E-mail:library@asbm.ac.in, chieflibrarian@asbm.ac.in
| 
2 comments:
I wish ASBMians reflect on the usefulness of this service fro CCL.
Thanks for sharing such a nice information on School of Business, for more details click on School of Business.
Post a Comment