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Dec 28, 2012

Top Business News of 2012 – India Business News at a glance

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Coca Cola placed at No.1 in Inter-brand's List of the top 100 Global Brands in 2011 - US beverage maker Coca Cola retained its top position in Inter-brand's list of the top 100 global brands in 2011. Coca Cola was followed by another US based company, IBM.

Bahrain Telecom announced exit from Indian joint venture S Tel - Bahrain Telecommunications Co (Batelco) on 8 February 2012 announced to sell its 43 percent stake in Indian joint venture S Tel for $175 million, in the first foreign exit since the Supreme Court of India nullified 122 telecoms licenses on 2 February 2012 as part of a 2G scam probe.

Rahul Bhatia awarded with Ernst & Young Entrepreneur of The Year Award 2011 - Rahul Bhatia, Managing Director of InterGlobe Enterprises group on 23 February 2012 was chosen for Ernst & Young Entrepreneur of the Year Award 2011

State Bank of India reduced Interest Rate on Education Loan upto 1 Percent - India’s largest bank, State Bank of India on 27 February 2012, announced to reduce its interest rate on education loan by 1 percent.

Hindustan Petroleum Corporation Ltd resumed Oil Supplies to Kingfisher Airlines - State-owned Hindustan Petroleum Corporation Ltd (HPCL) on 8 March 2012 resumed oil supplies to Kingfisher Airlines after the airline agreed to pay for daily fuel off-take.

State Bank of India hiked Interest Rates on Retail Term Deposits to 8 Per Cent - SBI's interest rate on deposits with maturity periods ranging between seven days and less than one year was increased to a uniform 8 per cent.

Tata Steel topped the List of Most Admired Indian Brand - A survey compiled by Fortune India and global management consultancy Hay Group which was released on 13 March 2012, revealed Tata Steel as the most admired brand in India.

Star TV won the Broadcasting Rights of Indian Cricket Team in a 3851 Crore Rupees Bid - Star TV on 2 April 2012 won the rights to broadcast Indian cricket for next six years in a bid to the tune of 3851 crore rupees.

Cyrus Mistry and OP Bhatt joined the Board of Directors of Tata Consultancy Services - Tata Sons deputy chairman Cyrus Mistry and former SBI group chairman OP Bhatt joined the board of directors of Tata Consultancy Services.

Star Group ended its Joint Venture with Indian Television - Rupert Murdoch led Star Group on 16 april 2012 decided to put an end over its joint venture with its Indian television news channel partner. The company cited the split on regulatory headaches as the reason behind the decision.

Zee TV became the First Indian Channel to get Landing Right in China - Zee TV on 27 March 2012 became the first Indian channel to get a landing right in China. China’s State Administration for Radio, Film and Television (SARFT) granted the landing rights to the Indian channel after a long six years of wait.

Audi signs up Indian Motorsport Driver Aditya Patel for Three Years - German luxury car manufacturer Audi on 13 April 2012 signed a 3 year contract with promising young motorsport driver Aditya Patel.

Audi launched New Version of Its Largest Selling sedan A4 in India - German luxury car maker Audi launched a new version of its largest selling sedan A4 in Indian market. The luxury car launched in both the petrol and diesel variants has a starting price of 27.33 lakh.

Bharti Airtel acquired 49 Per Cent Stake in Qualcomm’s Broadband Wireless Access Business - India’s leading telecom company Bharti Airtel on 23 May 2012, acquired 49 per cent stake in Qualcomm’s broadband wireless access (BWA) business in India in a deal worth 165 million dollar (about 922 crore rupees).

Samsung became Number One Mobile Company in the World - Samsung's mobile phone sales have reached 86.6 million units, a 25.9 per cent increase from 2011. It also reacquired the number one slot in smartphone space from Apple, selling 38 million smartphones worldwide.

Cyrus Mistry and Mallika Srinivasan appointed on the Board of Tata Steel - Cyrus Mistry, the Chairman-designate of Tata groups was appointed as an additional director on the board of Tata Steel on 21 May 2012.

Chinese Computer Major Lenovo appointed Ranbir Kapoor as its Brand Ambassador - Chinese computer major Lenovo on 29 May 2012 roped in Bollywood actor Ranbir Kapoor as the brand ambassador for its range of products in India.

Airtel Rising Star Talent Hunt Launched by Aitel and Manachester United - Airtel launched Airtel Rising Star in association with Manchester United, England on 25 June 2012 to provide exposure to young footballer’s talents. The talent hunt also strengthens brand positioning and appeal to youth to enhance football in countries like India.

MTS Slashed Internet Charges in Delhi-NCR by 60 percent - MTS slashed its internet charges for Delhi-NCR customers on 26 June 2012 by 60 percent. The net surfing for the customer is reduced up to 1/3 of the previous rate. MTS is operated by Sistema Shyam TeleServices Limited (SSTL).

Coca-Cola announced to invest 28000 crore rupees by 2020 in India - The soft drink company Coca-Cola on 26 June 2012 announced to invest 28000 crore rupees (about 5 billion dollar) from 2012 to 2020 due to youth population, growing economy increase in urbanisation and changing lifestyle in India.

Bank of India and United Bank of India reduced rate by 0.25 and 1.75 percent - Bank of India (BOI) and United Bank of India (UBI) on 5 July 2012 reduced the rate of interest by 0.25 percent and 1.75 percent. BOI slashed the rate on fixed deposits where as UBI reduced the rate for farm loans.

Bollywood actor Amitabh Bachchan signed as Brand Ambassador of Kalyan Jewellers - Bollywood's most popular actor Amitabh Bachchan on 14 July 2012 was signed as the brand ambassador of Kalyan Jewellers due to his popularity and fame at the international level. He will emphasize on the brand qualities with 100 percent purity, price tags etc. He will also advertise in regional languages.

ONGC was awarded Gold Trophy in Safety Management Award 2012 - Greentech Foundation awarded Gold Trophy in Safety Management Award 2012 on 24 July 2012 to Oil and Natural Gas Corporation (ONGC).

NDTV filed Lawsuit against Audience Measurement Company TAM India - India's national news broadcasting channel NDTV sued the country’s only television audience measurement company TAM India and its global parent firms Nielsen and Kantar on 31 July 2012. The channel accused officials at TAM of being indulged in fraudulent and manipulating TV ratings.

Siemens India Bagged 290 Million Euro NMDC Deal - Siemens India nailed an order worth two ninety million Euros from National Mineral Development Corporation (NDMC), which is state run, for developing basic oxygen furnace converter for steel marking.

The Bhilai Steel Plant won the Prime Minister’s Trophy for the 10th Time - The Bhilai Steel Plant won the prestigious Prime Minister's Trophy for the 10th time. Bhilai Steel plant is the flagship unit of India’s largest public sector steel maker, Steel Authority of India Ltd (SAIL).

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Information Source – Jagran Josh


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