ASBM Business Updates is a Weekly Selective Compilation of Business News from Various Sources. To find details follow the link.
BANKING
India's
third largest software exporter Wipro has undertaken
another reshuffle in its key banking, financial services and insurance (BFSI)
business, by splitting it between two leaders — one overseeing the US and other
key markets and the other overseeing Europe and South Africa.
In
an internal announcement on Friday, Wipro said Angan Arun
Guha — currently global head of Citigroup
business unit at the company — will head North America, Australia, India,
Middle East and emerging markets. Wipro has plucked out Shailendra
Singh from the South Africa division to oversee the rest of the world.
Citigroup is one the top customers for Wipro globally. Both Guha and Singh will
report to Shaji Farooq — a former Infosys veteran
who joined Wipro in 2012 and currently heads the BFSI business. The new
structure will be in place from April 1.
Restructuring
in the BFSI business comes as the Bengaluru-based firm is desperately trying to
catch up with rivals such as TCS, Infosys and Cognizant in the
banking outsourcing sector, after lagging for years. "Under this
structure, while Angan Arun Guha, vice president will lead the vertical in
North America, Australia, India, Middle East & Emerging Markets.
Shailendra
Singh, who heads Wipro's operations in South Africa, will lead the BFSI
vertical in Europe & South Africa. Both Angan and Shailendra will report to
Shaji Farooq, chief executive and global head - BFSI, Wipro," the company
said in a statement.
Wipro
generates just over a quarter of its overall revenues from the BFSI business,
which pales in comparison to rivals such as TCS, US-based Cognizant and even
cross-town rival Infosys, which has lagged industry growth rates over the last
4 years and lost its prized bellwether tag.
BUSINESS
COMMUNICATION
Facebook
is positioning its
Messenger app as a way to improve communications between online businesses
and their customers.
At
today's Facebook F8 conference in San Francisco, Facebook CEO Mark Zuckerberg
said the company wants to make Messenger a way to communicate with businesses
in the same manner that people use it to communicate with people. The new
Business on Messenger capability, previewed at the event, is intended to foster
these interactions,
Currently,
people tend to rely on phone calls to communicate with businesses, but Facebook
sees an opening for its Messenger platform in this vein, Zuckerberg explained.
"Think about how easy it would be if you could just use messages."
For
example, users could receive receipts or shipping information via Messenger.
"Helping people communicate more naturally with businesses is going to
improve, I think, almost every person's life," said Zuckerberg. Business
on Messenger will launch initially with a handful of partners.
FINANCE
Government
may allow Finnish telecom firm Nokia
to sell its Chennai plant with a condition that the money realised will be kept
in escrow account till final verdict is out on its Rs 21,000 crore tax dispute.
"The
Prime Minister (Narendra Modi) took initiative to resolve Nokia factory issue
so that mobile manufacturing can be restarted in its Chennai plant," a
source told PTI.
An
inter-ministerial panel was formed in this regard and Central Board of Direct
Taxes (CBDT) has agreed to the proposal of allowing sale of plant and deposit
realised amount in escrow account, the source added. On March 3 in Parliament,
Modi has indicated that the Tamil Nadu-based Nokia plant, which shut down a few
months ago, is likely to start functioning again. The inter-ministerial panel
set up in this regard included Department of Revenue, Department of Industrial
and Policy Promotion (DIPP) and Department of Electronics and IT. CBDT was part
of the discussions.
The
assets of Nokia Chennai
plant have been frozen by the Income Tax Department and the next hearing in the
Nokia tax case is on April 6, when the resolution will be placed before the
Supreme Court, the source said.
LOGISTICS
Amazon
has set up a logistics company in India to deliver
products directly to consumers, opening a new front in the battle for top
honours in the country's fast-growing online retail industry.
Amazon
Transportation Services Private Limited, a subsidiary of US-based Amazon,
will ship goods from sellers who transact on the company's online marketplace
in India. Such a service is already on offer from Flipkart through
logistics company eKart, and Snapdeal, which bought a stake in delivery firm
Gojavas last week. "We want to change how India shops," said Samuel
Augustine Thomas, director of transportation for Amazon in India. "The
logistics arm has been set up to aid in last-mile delivery as products can be
shipped faster," he said. Products sold on the Amazon marketplace are now
shipped to some 19,000 pin codes across the country.
ATSL
will be one of the logistics partners for Amazon's Indian marketplace.
The
company's Indian marketplace expects to sell goods worth over Rs 12,000 crore
($2 billion) this fiscal. The company will continue to work with other partners
including India Post and courier companies like Gati, Blue Dart and DHL.
_______________________________________________________________
Source of
Information for this issue : Google alert accessed on Google alert on Mar 30 , 2015
We
welcome your suggestions in improving this information updating service.
Knowledge
Is Power. Be Informed, Be Knowledgeable, Be Powerful.
Best wishes
Compilation
Sabita
Sahu
Junior
Librarian
Concept,
Layout and Editing
Syamaghana
Mohanty
Chief
Librarian
Information
and Documentation Divison, Chanakya Central Library
Asian
School of Business Management
Shiksha
Vihar Bhola,
Barang
Khurda Road, Chandaka
Bhubaneswar-754012
www.asbm.ac.in
Tel:
0674-2374832, 2374833
E-mail:
library@asbm.ac.in, chieflibrarian@asbm.ac.in
Sabita Sahu :Junior Librarian Knowledge and Information Services Unit, Chanakya Central Library, Asian School of Business Management, Bhubaneswar. library@asbm.ac.in ; www.asbm.ac.in
No comments:
Post a Comment