Employment News Paper 25 July 2013
Most expensive city
Angolan capital Luanda has regained the top spot in an annual survey of the most expensive cities for expatriates, followed by Moscow and Tokyo.
The survey by the Mercer consulting group is published annually to help companies assess compensation allowances for expatriate workers.
It compares the cost of over 200 items in 214 cities, including housing, food, transport and entertainment.
Moscow's high costs for rentals and imported goods accounted for its second-place finish, with a luxury unfurnished two-bedroom apartment in the Russian capital costing $4,600 (3,480 euros) a month and a cup of coffee $8.29 .
Tokyo was the third most-expensive city in the survey, followed by Chad's capital N'Djamena, Singapore, Hong Kong, Geneva, Zurich, Bern and Sydney.
India has been ranked third in the Global Consumer
Confidence Index.
The latest survey by the Nielsen reveals that in the
second quarter of the current financial year, India slipped one point behind
Indonesia and Philippines in the overall consumer confidence levels.
Indonesia emerged as the most optimistic country with
124 points followed by Philippines with 121 points and India came third with
121 points.
According to the survey, 72 percent Indians are
optimistic about their job prospects in the next 12 months.
The job security is the major concern followed by the
state of Indian economy.
Analysts say that the pattern is a reflection of the
concerns of the devaluation of the rupee and the continuing inflation for urban
Indians over the past six months.
The Nielsen Global Survey of Consumer Confidence and
Spending Intentions measures is based on consumer confidence, major concerns,
and spending intentions among more than 29,000 respondents with Internet access
in 58 countries.
India, France to discuss Rs 80,000 cr worth defence projects
defence Deals expected to be worth over Rs 80,000 crore including supply of 126 Rafale combat aircraft are likely to be high on agenda of French Defence Minister Jaen Yves Le Drian.
India and France have been busy in negotiating the 126 combat aircraft deal for which the French combat aircraft was selected last year defeating its five other European and American rivals and over Rs 30,000 crore Maitri surface-to-air missile projects.
In the recent times, France has been awarded several key tenders by India including the supply of six Scorpene submarines to the Navy and the multi-billion dollar 126 combat aircraft deal.
First Afghan woman governor wins
Magsaysay
Afghanistan's first and
only female governor and a humanitarian worker from the Kachin minority in
Myanmar, Habiba Sarabi, is among this year's recipients of the Ramon
Magsaysay Award.
Sarabi was honoured for helping build a functioning
local government and pushing for education and women's rights in Afghanistan's
Bamyan province despite discrimination and poverty.
Lahpai Seng Raw helps rehabilitate damaged communities
amid armed conflict.
The awards announced on Wednesday, will honour
three individuals and two organisations for changing their societies for the
better.
The Philippine leadership prize is named
after the popular Philippine president who died in a plane crash in 1957.
JSW Steel joins race to buy Stemcor's iron assets
India's third-largest steelmaker, has expressed interest in buying British steel trader Stemcor's Indian iron ore assets, joining at least three other interested parties.
Among the other firms interested, is steelmaker Jindal Steel and Power, a firm run by Indian member of parliament Naveen Jindal, brother of JSW Steel's boss Sajjan Jindal.
Stemcor, the world's largest independent steel trading company and the fifth-largest private company in Britain is undergoing a restructuring phase.
The firm, controlled by the Oppenheimer family, has come under pressure from lenders to sell some of its assets to raise cash, since it failed to refinance a $850 million syndicated loan that was due to mature in May.
JSW posted revenue of about $6.4 billion in the latest financial year while Jindal Steel and Power registered a turnover of about $3.3 billion.
Stemcor, which trades between 15 million and 20 million tonnes a year of steel and steel raw materials, including coal and iron ore, posted a 5.1 billion pounds ($7.84 billion)turnover last year.
Ford Became First Automaker to
Participate in Greenhouse Gas Reporting Programme
Ford Motor Company joined the Voluntary India Greenhouse
Gas Reporting Programme in India on 23 July 2013.
Voluntary reporting enables a
complete transparency in terms of the carbon dioxide emissions.
It is important to note that Ford has the objective of
bringing down the carbon dioxide emissions at all the global facilities, two of
which are in Chennai. The objective is to bring down these emissions by 30
percent per vehicle by the year 2025.
Ford Motor Company also participates in such kinds of
programmes in other countries such as Argentina, Brazil, Mexico, Canada, China and
US.
With this, Ford has become the first automaker to
participate in the Voluntary India Greenhouse Gas Reporting Programme.
The Voluntary India Greenhouse Gas Reporting Programme is
the joint effort between the World Resources Institute, The Energy and
Resources Institute and the Confederation of Indian Industry.
The India manufacturing plant of Ford produces Ford
EcoSport, Ford Endeavour, Ford Classic, Ford Fiesta and Ford Figo.
The facilities have considerably reduced the water use
30 percent per vehicle produced since 2010. Ford also reduced the energy
consumption 10 percent per vehicle.
Jwala Gutta, Ponnappa upset by Badminton League as organisers quietly halve their base price
Indian Badminton League, top Indian shuttlers Jwala Gutta and Ashwini Ponnappa have alleged that the organisers played foul with their valuation.
Gutta and Ponnappa, women's doubles bronze medallists at world championship, expressed shock at the organisers' decision to halve their base price for the auction to $25,000 ( Rs 13.60 lakh) at the last minute without informing them.
Media reports said Ashwini Ponnappa, who was picked up by Pune Pistons team for $25,000, felt betrayed because the organisers did not even inform her about the change.
I got to know about my base price after the auction got over and it was shocking. I am hurt with what the organisers have done," Gutta, who was picked up by the Delhi franchise for $31,000 ( Rs 18.80 lakh.
Players' auction for the inaugural Indian Badminton League, which will be held in a format similar to the IPL cricket league, took place in a Delhi hotel on Monday.
Six city-based teams will play in the league being organised by the Badminton Association of India in partnership with sports marketing firm Sporty Solutionz from August 14-31.
Former Nepal PM Madhav Kumar on 5-day
visit to India
Former Prime Minister
and senior leader of CPN-UML Madhav Kumar Nepal is scheduled to arrive for a
five-day official visit to India on Wednesday, at the invitation of Prime
Minister Dr. Manmohan Singh.
Nepal is scheduled to hold meetings with senior political
leaders of India, according to Bishnu Rijal, a member of the UML Publicity
Department.
The leader will hold a series of meetings with the
Indian dignitaries during his five-day visit.
Nepal is also scheduled to address a special programme at
Nalanda University.
He will be accompanied by UML General Secretary
Ishwor Pokharel and his former foreign affairs adviser Rajan Bhattarai.
SC slaps contempt notice on two Sahara firms
The Supreme Court on Wednesday slapped contempt notices on
two Sahara firms for not complying with its order of refunding around Rs 19,000
crore to investors through SEBI.
The Supreme Court ( a bench of justices K S Radhakrishnan
and J S Khehar said while adjourning the case for July 30 on plea of the
companies ) slapped contempt notices on two Sahara firms —Sahara
India Real Estate Corporation and Sahara Housing Investment Corporation — for
not complying with its order of refunding around Rs 19,000 crore to investors
through SEBI.
The balance amount was to be deposited with SEBI in two
instalments to be cleared by early February. The first instalment of Rs 10,000
crore was to be paid by the first week of January 2013 and the remaining by the
first week of February 2013.
The bench also told Sahara group that no further time would
be given to the companies and they must not seek any adjournment in the case.
The apex court had on August 31 last year directed the two
Sahara group companies to refund the money to their investors within three
months with 15 per cent interest per annum. They got nine weeks more time to
deposit the amount with SEBI.
The court had also said that SEBI can attach properties and
freeze bank accounts of the companies if they fail to refund the amount.
The two companies, their promoter Subrata Roy Sahara and
directors Vandana Bhargava, Ravi Shankar Dubey and Ashok Roy Choudhary were
told to refund the collected money to the regulator.
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