New Delhi: Royal Bank of Scotland or RBS has finally found a buyer for some of its businesses in India, China and Malaysia. HSBC will acquire RBS’s retail and small and medium enterprises in all three countries. The two firms have now approached the RBI for approval of the deal in India. But the green light may not come easily. In June, the RBI had refused to transfer RBS branch licenses to another prospective buyer. It argued that the proposed transaction was a portfolio sales and not a bank buyout.
NDTV says it has sold of most of its indirect stake in NDTV Imagine to Turner Asia Pacific Ventures. The deal is worth a total of $117 million. That includes a 76% stake NDTV holds in NDTV Imagine through another unit, NDTV Networks. Turner is still waiting for approval from its parent company Time Warner ansd from regulators.
India’s job market could finally be looking up. The Manpower Employment Outlook Survey for the first quarter of 2010 indicates India has an adjusted net employment outlook of 39% for the period from January to March. This is the highest figure for India in five quarters. The survey concludes Indian companies are the most optimistic out of the companies in 35 countries that were surveyed. The new figures confirm anecdotal evidence that Indian IT companies are preparing to hire in the coming months. And Manpower says Indian companies will both, hire people for new positions, and conduct replacement hiring in 2010.
For the first time ever, Indian scientists have decoded the entire DNA sequence of a person. India is only the sixth country in the world to be able to map the genetic code of a citizen using local expertise.
The government may want to speed up the building of roads in India but nearly a third of all highway projects are stuck because they are under arbitration. According to government data, a total of 123 road projects worth Rs8,508 crore are caught up in disputes. Most of the disputes concern issues like the rising costs of input materials, royalties and entry tax.