New delhi: United Stock Exchange or USE is talking to financial institutions about selling them stakes in its bourse. The potential investors include Bank of America, Goldman Sachs, and Standard Chartered Bank. USE wants all three of them to buy a 5% stake each at a face value of ten rupees a share. Several Indian banks promote USE, which is expected to begin trading currency futures next month.
Sugar futures have risen after speculation that global supplies would diminish. Investors are speculating that India, the world’s largest consumer of sugar, will increase its imports after a poor monsoon hit the country’s sugar crop. Output in India may be 15 million tons in the year ending 30 September, compared with demand of as much as 23 million tons.
Commerce minister Anand Sharma will present the five yearly Foreign Trade Policy on Thursday. The announcement will come even as exports have fallen for nine straight months and world trade is expected to shrink by 10% in 2009. India launched the first integrated foreign trade policy in 2004.
A senior manager at Kingfisher Airlines has put in his papers. vice president marketing Vikram Malhotra helped build the now troubled airline’s brand. In June another senior manager, executive vice president quit. Other airlines in India have also seen top leaders quit amidst an aviation crisis brought on by excess capacity and high fuel costs.
Bangalore-based Biocon, says it expects its branded formulations business in India to double this fiscal year. It says that in 10 years, the branded formulations business in India will bring in 20-25% of the company’s total revenue.
The retail euphoria for foreign brands in India, may be over. 10 years after it’s launch in India, the Levis Strauss brand Dockers, is shutting its shops across India. Over the last few months, several foreign brands in India are either closing down business or undergoing a major overhaul. All twelve standalone stores of the premium brand GAS, have been shut down in the past few months. Foreign retailers have faced a combination of an economic downturn, steep prices that drive away customers.
You’ve seen the slick and expensive ads, but some companies are using nostalgia to get attention. They’re reviving old advertisements, that had iconic campaigns that many remember even decades later. Bajaj Electrical is bringing back a commercial that has been off the air for over 10 years, but that many still remember. Maggi is trying to evoke the past to sell its hot and sweet ketchup and Garden Sarees is using its iconic advertisement with Lisa Ray.