ONGC is negotiating with ExxonMobil to buy its 25% stake in an Angolan oil field for $2 billion to expand in Africa and compete with Chinese companies. Emami's sales of Zandu Balm increased 35% after the product was featured in a popular Dabangg song. The Philippines is projected to surpass India as the world's largest provider of voice-based business process outsourcing services this year due to lower staff turnover rates. Harley-Davidson plans to start locally assembling 200 motorcycles per year in India to make its products more affordable and tap into the growing Indian premium bike market.
2. ONGC eyes Exxon stake in Angolan
field for $2 b
• INDIA’S largest explorer, Oil & Natural
Gas Corp, or ONGC, is negotiating with
global energy giant ExxonMobil’s Angolan
arm to buy its 25% stake in an oil field for
about $2 billion.
• To catch up with Chinese competitors that
have left it far behind in the race for black
gold in Africa and other parts of the world.
4. • Dabangg Song Sends Balm’s Sales
Soaring 35% In Sept Quarter.
• In early September, Emami, the Kolkata-
based maker of Zandu Balm, sued Dabangg
producer Arbaaz Khan over use of Zandu
Balm in a hit song.
5. • With a large dose of controversy seededby
the Salman Khan starrer, Emami has
doubled the sales of Zandu Balm in the
July-September quarter to nearly 35%, and
in the process, reported on Monday one of
its best second-quarter results yet.
6. Philippines to turn call centre capital
of world
• THE Philippines is set to overtake India as
the world’s back office for voice-based
customer support and sales this year, as
firms such as Cisco, HSBC, T-Mobile and
BT Plc shift work to the nation to avoid
India’s high staff turnover, and build an
alternate support hub.
7. Ctd…
• Of India’s total BPO exports, nearly 45%
comes from voicebased work, which is
expected to be around $5.58 billion this
year. However, the Philippines BPO
industry will post almost $5.70 billion of
pure voice-based revenues in 2010, higher
than its bigger outsourcing rival, research
firm Everest and the Business Process
Association of Philippines (BPAP) say.
9. • Harley-Davidson will start assembling
select models in India, making them about
20-25% cheaper, in a bid to crack the
booming Indian premium bike market
dominated by Japanese brands.
• The upcoming facility at Bawal in Haryana
will become operational in the first half of
2011 with an initial capacity to assemble
200 bikes per year, the company said on
Tuesday.
10. Hajmola gets Afridi for Pak
• If hiring a local celebrity for Hajmola
proves a success, then Dabur may follow
the same strategy for its Amla and Vatika
hair oils, gels and shampoos that too are
sold in Pakistan, company officials said. In
hair oils, it competes with local brands like
Bio Amla and Kala Kola in Pakistan.
12. • US to relax regulations making it easier
for American firms to export products to
India that can be used for both civilian &
military purposes
• The concession on the export-control
rules apart, the President’s speech was
firmly focused on the potential of the Indian
market and the jobs that exports to India
could create.
13. SPICEJET, BOEING INK
$2.7-BN PACT
• SpiceJet and Boeing have concluded an
agreement for sale of 30 B737-800
commercial aircraft. The transaction is
valued at around $2.7 billion, based on
catalogue prices, with an estimated $2.4
billion in US export content, supporting an
estimated 12,970 jobs.
