Employment News of This Week 2013

Employment News of This Week 2013 (1July to 7July Employment News)

Binod Chaudhary: Nepal’s first dollar-billionaire businessman

Binod Chaudhary had to discontinue his studies and take over the reins of his family business. His father had been incapacitated by a heart attack, and he had no brothers to look after the "modest" business that involved selling fabric imported from Japan and India, and running a department store, amongst other activities.

Chaudhary, who recently became Nepal's first dollar-billionaire (as per Forbes' 2013 list), also inherited from his ailing father a biscuit business.

In those days, cardiac problems were a much bigger issue than they are today. Doctors asked my father to stay away from the business. As the oldest of his three children, I had to take the plunge," says the chairman and managing director of the Kathmandu-headquartered conglomerate

Chaudhary Group (CG), which has in its fold as many as 80 companies and offices in 19 countries across the world. (Chaudhary did not disclose the group's annual revenues.

Chandrasekhar appointed President of Nasscom

 Nasscom, the IT software services industry body  appointed R. Chandrasekhar, the former Secretary Department of Telecommunications (DoT), as its president. 

R. Chandrashekhar will be succeeding current Nasscom President Som Mittal, whose tenure expires in January 2014.

He will have the responsibility to take forward Nasscom’s ambitious target of grossing $300 billion (Rs 18 lakh crore) revenue for the IT sector by 2020.

He has been the chairman of telecom commission and secretary, department of telecommunication till March 2013.

Wimbledon final ticket costs Rs 31 lakhs - highest in tournament history

Ticket agencies say the price for a ticket to see the first ever Brit come close to winning a Wimbledon crown — the UK has not had a men's singles champion on the hallowed grass court of All England Club since Fred Perry in 1936 — has reached the highest ever in history with a pair going for £71,000 or nearly Rs 63 lakh.

Ticket agency Viagogo registered more than a million searches for tickets for the men's final. Fans wanting to be part of British tennis history clicked on Viagogo's website for tickets that cost a maximum of £35,500 a pair or around Rs 16 lakhs a piece. But unfortunately none are now available.

The final will also have a slice of history for India. Eleven-year-old Pinki Sonkar from Mirzapur will flip the toss coin at the gentlemen's singles final on Centre Court. Pinki, who is representing Smile Train, has travelled from her native village to share her story about her cleft lip. In 2007, she received a free cleft repair surgery, which was captured in the Oscar winning short documentary short, Smile Pinki.

Congress-JMM to form coalition govt in Jharkhand

In Jharkhand, efforts of forming a new government are on after the Congress agreed to support the Jharkhand Mukti Morcha, JMM. 

After getting support from the Congress party in New Delhi yesterday, JMM Legislative Party leader Hemant Soren is returning Ranchi today, after which the various details of government formation will emerge. 

The JMM has 18 and Congress 13 MLAs in Jharkhand Assembly. It has support of 5 RJD members and 4 of the six Independents. 

However, since two JMM MLAs are absconding to evade arrest, and one Congress MLA expelled, it would be interesting to see how the magic figure of 42 is achieved by Hemant Soren to prove the majority . 

On the other hand the JMM and Congress have reached a formula of seat sharing for the next Lok Sabha poll of 2014 in which Congress will contest on 10 while the JMM would fight on the remaining 4.

Zynga's new CEO to get pay package worth some $50 million

Don Mattrick, the head of Microsoft Corp's Xbox business who will replace Zynga Inc founder Mark Pincus as chief executive next week, will get a hefty, largely stock-based compensation package of about $50 million in coming years, the company said in a regulatory filing.

Mattrick will receive a base salary of $1 million, a sign-on cash bonus of $5 million and a 2013 bonus of $2 million, or the average bonus of Zynga's other executives, the company said.

Zynga is also giving Mattrick an inducement grant of 1,785,714 restricted stock units with a target value of $5 million and an option to buy 7,357,143 shares with a target value of $10 million that will vest at the end of his third, fourth and fifth term of employment.