Dr M Khalid's global village blog

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T.R. VIVEK AND PURBA DAS   New Delhi | 8th Jul Aditya Birla Group Chairman Kumar Mangalam Birla at a press conference. AFP ink slips are back in business. Deprived of the oxygen of capital and shackled by a hostile investment climate within the country, Indian businesses are being forced to sack employees in large numbers. It's the big, blue chip firms such as HSBC, Aditya Birla Group, Barclays India, Nokia and Future Group, and not just the exports driven sweatshops that are retrenching employees. Scores of other big companies would take a similar step in the next few months. HSBC, for instance, showed the door to about 750 employees in India. The bank sacked close to 200 employees, mostly mid-level managers, in Hyderabad and 350 in Pune. "We were called into a meeting, and out of the blue, were asked to choose between resignation and termination. We were gobsmacked," says an HSBC manager, who was a victim of its latest purge. The sacked employees w...

10 reasons to believe in China slowdown story by Ruchir Sharma (head of Emerging Market Equities and Global Macro at Morgan Stanley Investment Management)   Anyone forecasting a hard landing for China's boom is typically met with the same scepticism that doomed the boy who cried wolf. However, the lesson from the fable is that the wolf did eventually come. Now after some false alarms, it seems a major slowdown in   China   is at the door. The news out of China is flashing red with signs of weakness, from slackening factory output to sagging export growth. These are not cyclical blips: they foretell a fundamental downshift from the boom of the last three decades, when growth averaged 10%. Here are the top 10 reasons to believe China has hit a major turning point. Too rich to grow at a miracle pace: China last year passed the $5,000 per-capita-income level, the same level (in inflation-adjusted terms) at which all miracle economies - Japan, South Kore...

mobile.bloomberg.com/news/2012-07-05/obama-says-u-s-to-complain-at-wto-over-china-car-duties?category=%2Fpolitics%2F President Barack Obama expanded U.S. trade complaints against China, accusing the nation of imposing unfair taxes on American vehicles, mostly from General Motors Co. (GM) and Chrysler Group LLC. Duties on more than $3 billion in exports cover more than 80 percent of U.S. auto shipments, including Jeep’s Wrangler and Grand Cherokee, both made by Chrysler, and GM’s Buick Enclave and Cadillac CTS, according to a White House statement on a complaint it filed yesterday at the World Trade Organization . “Americans aren’t afraid to compete; we believe in competition,” President Barack Obama said in Maumee, Ohio , near a Jeep factory at the start of a two-day campaign bus tour yesterday. “As long as we’re competing on a fair playing field, instead of an unfair playing field, we’ll do just fine.” The U.S. complaint adds to an expanding list of grievances between the nati...

FRIDAY, JULY 6, 2012 she earns Rs 1.10 crore Gujarat woman milking millions by dairy she setup 12 years back Prashant Rupera & Bharat Yagnik, TNN   (SUPER MILKMAID: Ramilaben…) VADODARA: Ramilaben Govindbhai Patel hasn't been to college. But at 43, she earns what some CEOs take home. Nothing fancy here. She milks cows every day and supplies milk to a dairy co-operative. She milked Rs 1.10 crore - Rs 1,10,17,675 - net profit in 2011-12, to be precise! At Pentarpura village in Sabarkantha district, Ramilaben's dairy farm churns out 5.55 lakh litres of milk per annum. What had started as a backyard business in 2000 is now a full-fledged family business. She is an outstanding success story of the change the White Revolution has brought about in Amul capital. Twelve years ago, Ramilaben registered herself as a primary milk producer at Pentarpura's dudh mandali (village level milk society) and took a bank loan for five cross-bred...

IT firms eager for specific talent for emerging business areas http://articles.economictimes.indiatimes.com/2012-07-02/news/32508723_1_analytics-spending-on-cloud-services-wipro-technologies The rise of analytics, big-data, mobile applications and other new technologies have clear parallels with the rise of the private insurance industry in India two decades back when people in the sector had to understand the techniques and new business models, said Abhijit Bhaduri, Chief Learning Officer at India's third-largest software firm Wipro Technologies. "Analytics and big data are emerging areas of technology for us and there is a demand-supply issue here," said Bhaduri, who has led HR teams at Pepsico, Colgate and Microsoft. "But very soon, everyone's going to pick up these skills as this sector evolves and clients define their requirements." The Indian  IT  industry, which is projected to more than double in size to $225 billion by 2020, ca...