A load of crap from an idle brainPersonal, Movies, Music, IT, India, Singapore, Politics, Fun

Its official. India’s Tata Motors has finally bought Jaguar and Land Rover from Ford Motors. The exact pricing is to be unveiled today. But estimates are around 1 billion pounds. Finally after months of intense negotiations, Tata Motors will lay hands on two of the world’s most iconic automobile brands. The product profile of Tata Motors will now include the world’s cheapest car, Nano to expensive products like the Jaguar and Land Rover.

Earlier, there was news that Ratan Tata was interested in taking a stake in Ferrari. With this deal, the Tata group now holds on to some of the most iconic brands in the world which include Corus Steel, Tetley Tea, Ritz Carlton hotel in Boston, Jaguar and Land Rover.

Thousands of workers at Jaguar and Land Rover plants are expected to be told today that the marques have been sold to the Indian conglomerate Tata.

It is understood that a deal between Tata and Ford over the sale of two of the best known names in British car making was concluded last night after months of painstaking negotiations.

Ford refused to confirm a deal had been signed last night, saying any significant development had to be communicated to employees first. However, formal confirmation that the two sides have reached agreement is expected via simultaneous announcements in India, Britain and the US at around noon GMT today.

The companies have been in detailed negotiations for almost three months after Tata emerged as the leading bidder, ahead of rivals One Equity, a private equity concern, and automotive group Mahindra and Mahindra.

Yesterday the two sides were refusing to be drawn on reports from India that Tata had agreed to pay $2.65bn (£1.3bn) for the marques. The Reuters news agency quoted a source close to the deal as saying: “That figure of $2.65bn is highly unlikely. You have to come south from that by quite a bit.”

Full article here

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The world’s favorite jeweller opens the world’s biggest jewellery showroom in Chennai, India. With over 70,000 sq. ft of premium jewellery shopping in the heart of Chennai, Joyalukkas jewellery offers consumers more than a million exquisite jewellery designs from master jewellers in India, Bahrain, Turkey, Singapore and Italy.

With the opening of the first showroom in the Gulf in 1987, the Group has achieved enormous growth, with over fifty stores in the GCC alone, plus London and New York. By 2009, the Group aims to open over 100 showrooms in India and the GCC. The world’s largest showroom in Chennai is an evidence of the growth of the Joyalukkas Group, and has been made possible by the vision of Mr. Joy Alukkas, Chairman, Joyalukkas Group.

Joyalukkas is a household name among the expatriate population in the GCC, including those from India, Pakistan, Sri Lanka, Bangladesh, Philippines and other Asian countries, apart from a large number of international shoppers, the legendary quality of Joyalukkas products have helped the Group to expand into a number of industries that have been enthusiastically received by its loyal customers. The Group now has operations in areas of fashion, information technology, media, money exchange and gold trading.

With an entire floor of the store dedicated to diamond and platinum jewellery customers will be able to chose from a plethora of diamond and platinum jewellery designs in the form of necklaces, rings, ear rings ,bracelets and more. Joyalukkas only offers 100% IGI certified flawless Belgian cut diamonds, and a 100% PGI certified, Platinum jewellery, which ensures that only the highest quality of materials are used to create masterpieces which is a term synonymous with the Joyalukkas brand. All the gold jewellery available within the store is a 100% BIS certified and customers who purchase any gold and diamond jewellery are assured a 100% lifetime money back guarantee.

Full article here

Joy Alukkas website

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My first ever credit card back in 1997 was a Standard Chartered Visa. I held on to the credit card years after i had moved out of India. I cancelled it off finally as the spending limit for the card was in Indian Rupees and all my bills would go to my India address.

Standard Chartered Bank’s (StanChart) Indian branches have posted a 71 per cent increase in operating profit to $690 million in 2007 from $403 million in 2006.

India, is now the second largest contributor to the bank’s global operating profit with a 17 per cent share after Hong Kong’s 34 per cent. India not only is the bank’s biggest business, but is the only market that saw accelerated growth in 2007.

StanChart India’s wholesale banking business contributed the biggest change in global profits. Wholesale banking in India saw a 91 per cent rise in profits to $626 million on an 82 per cent increase in income. The bank has added more than 1,000 clients over the last three years and has more than 100 clients generating income of more than $1 million.

The consumer banking business in India crossed $1 billion income for the first time in 2007, growing 60 per cent to $1.3 billion. Operating profit in the consumer banking business was down to $63 million in 2007 against $76 million in the previous year.

Full article here

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Looks like the airport is racing to the finish. Also British Airways has confirmed 5 flights per week between London and Hyderabad starting October. Also looking at the growing traffic, Thai airways is increasing its frequency from Bangkok to Hyderabad from 3 days  to 5 days every week. Not to count Lufthansa (flies daily), Saudi, Sri Lankan, Malaysian, SIA etc who are already flying to Hyderabad.

On my next trip to Hyderabad, i will pass through this airport. Cool. At least to see the airport, i might make an unscheduled trip to Hyderabad.

All pictures courtesy: New Hyderabad Airport website

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One thing that struck me on my recent trip to India was, Where is the next generation of kids? I remember there were at least 10 of us playing cricket in the narrow lane in front of our house during my school and college days.

On this trip home, we could hardly manage to get 4 guys to play the game or even to hang out. Agreed that most of the people are working and find no time to come together. But a random count of the kids in our lane gave out an interesting finding. More than 50% of my cricket buddies are out of India. Some in Ireland, London, Australia, US and myself in Singapore.

In the 80s and 90s there was a favourite word used by the media and that was about “Brain drain”. After enjoying subsidised education, people moved on to the US, Europe etc for higher education. After finishing the education, they took up jobs, got their green cards, bought property and settled down in the foreign lands. They visited India only for short holidays.

Today, 25 odd billion USD is being pumped back into India every year, by these same people who once went out of India to study. What was once considered by the government as the worst crisis to hit India has slowly changed into an asset. This unlimited flow of foreign currency has lead to a consumption boom in India.

All the billions that flow into India are being consumed in the form of constructing houses, buying automobiles and other luxuries that were once beyond the reach of the common man. People are ending up with bigger houses, more money to spend and this in turn has fueled a retail boom. Real estate is booming, insurance, mobile telephony, ports, airports, infrastructure, aviation etc has moved the Indian economy from the so called hindu rate of growth (4%) to a blistering 8% growth annually.

Even though the missing generation of kids are not in India, they still seem to be reluctant to cut the umbilical cord that connects them to their birthplace. Isn’t it funny that the same media/government that railed against “brain drain” today felicitates them by organising events like the Pravasi Bharatiya Divas.

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