In race for CEO’s
post at Infosys
Though there was no confirmation from the company, B
G Srinivas and U B Pravin Rao are seen to be in the race
for chief executive officer at Infosys.
The company has divided almost all its business functions between Srinivas and Rao, with the former focusing
on global markets and the latter on global delivery and
While Srinivas has long been considered in the race for
the CEO’s post, Rao has emerged as the dark horse.
Workday shares make
Aneel Bhusri a billionaire
Aneel Bhusri, a partner at venture
capital firm Greylock Partners, is now a billionaire thanks
to his shares in Workday, an enterprise software firm he
The shares of the California-based firm have been on an
upward trajectory since it went public in October 2012.
They closed at an all-time high of $84.9 January 6.
According to Forbes, that makes Bhusri, who owns 5
percent stake in Workday, ‘worth an estimated $1 billion.’
Royal Enfield wants
to zoom into the US
Royal Enfield Motors — the maker of the Royal Enfield
Bullet, an Indian version of an old British brand that is
often described as the oldest continuously produced
motorcycle in the world — is looking to push harder into
British and American markets this year.
The company says its newest model, Continental GT,
was developed keeping the world market in mind.
Pepsi to launch television
channel with MTV in India
Pepsi is co-branding with Viacom’s MTV for a new chan-
nel slated to be launched in a couple of months. The part-
nership will give Pepsi the opportunity to form an associa-
tion with music. Senior executives from both PepsiCo India
and MTV India confirmed the development.
most liveable city
Mumbai has jumped two places to grab the top position
on the Liveability Index 2013, beating other Indian metros.
The model is based on eight core pillars — demographic,
education, health and medical standards, safety, housing
option, socio-cultural-natural environment, economic environment, and planned environment.
Mumbai is followed by Chennai and Hyderabad.
At the bottom are Agra, Raipur and Asansol.
TCS plans world’s largest training
center in Kerala
Tata Consultancy Services’s Kerala center will have the
capacity to train 15,000 professionals at one time and
50,000 professionals annually. The proposed TCS
Learning Campus in Thiruvananthapuram will come up
on a 97 acre plot and is expected to be the world’s largest.
Mumbai’s new airport
Airport in Mumbai’s Sahar was inaugurated by Indian
Prime Minister Manmohan Singh January 10. It is capable of handling 40 million flyers a year.
Curbs on gold imports to stay
Restrictions on gold imports in India are likely to con-
tinue until at least March-end, notwithstanding an
improvement in the current account deficit situation.
Citi scam: Assets worth
Rs 50 million frozen
India’s Enforcement Directorate has issued fresh orders
to attach assets worth about Rs 50 million ($808,000) in
connection with its money laundering probe in the
Citibank Gurgaon scam.
Several depositors were duped in the Rs 4.6 billion ($74
million) alleged fraud.
70 Indian firms draw flak
Indian firms like SAIL, Tata Steel, the Aditya Birla
group’s Essel Mining and Odisha Mining Corp are among
70 firms that have violated environment and forest laws in
Odisha, the Justice M B Shah Commission on illegal mining in Odisha has said.
Kejriwal’s election plans
worry foreign investors
Foreign investors and brokerages, which have been bet-
ting on a Bharatiya Janata Party victory in the 2014 gen-
eral election in India, are tempering their expectations in
the wake of the success of the Aam Aadmi Party in the
Delhi assembly election.
Analysts said investors are worried that the AAP’s rise as
a key force in national politics could force the government
to resort to socially popular policies that could drain the
Action on Walmart lobbying to
depend on US probe: Minister
India will take necessary action on lobbying by Walmart
to enter India if the US authorities come out with ‘some-
thing tangible’ on this matter, but a probe in India could
not substantiate allegations against the global retail giant,
Indian Corporate Affairs Minister Sachin Pilot has said.
Business optimism: India
slips from top to 8th spot
India has slipped to the eighth rank from the top spot in
terms of business optimism, with only 69 percent of cor-
porates having a positive outlook on the economy and
growth of operations in 2014, says Grant Thornton’s
International Business Report..
The list was topped by the United Arab Emirates and
the Philippines, where 90 percent of businesses said they
are optimistic, followed by Peru at 84 percent.
the week that was
Zydus Cadila to sell
drugs in US
Zydus Cadila has received approval from the Food
and Drug Administration to sell Sirolimus tablets,
used to prevent rejection in organ transplantation, in
the American market with 180 days of marketing
The Ahmedabad-based firm has also received
approval to market Duloxetine delayed release capsules in different strengths here.
Wockhardt’s Shendra unit set
for key US test
The Food and Drugs Administration is likely to
visit Wockhardt’s factory in Shendra, Maharashtra,
for an inspection this month.
If the company gets a go-ahead from the FDA for
this plant, it might result in resumption of supplies
of several of its products, barred from the US last
AMI T DAVE/REUTERS
Gujarat, January 8.
corridor is likely to be
the first high-speed
railway line in India to
get foreign direct
investment after New
FDI in the one of the