Nutrition industry: Global nutrition company Herbalife cuts 36% of CEO’s pay

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March 1, 2015

Based on understanding an article published on 28th Feb in Reuters, Herbalife, a global nutrition company cut the pay of Chief Executive Michael Johnson about 36 percent for 2014.

The company cut the pay of Chief Executive after the nourishment and weight management organization failed to meet performance related objectives.

As the report says, Johnson got total remuneration of $6.73 million last year down from $10.5 million in 2013.

Due to the poor performance, he didn’t get the incentive plan pay of $3.77 million.

Herbalife products including nutrition, weight-Management, energy and fitness and personal care products are available in more than 90 countries and the company has over 7,800 employees Worldwide.

Union Budget 2015: Budget lacks clear roadmap, says former PM of India

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K S Rao Kunchala

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February 28, 2015

Expressing the profound disappointment, Former Prime Minister Manmohan Singh said on Saturday the budget reflected parcel of good intentions of the NDA Government however it failed to possess any reasonable guide to accomplish the goals.

“The Modi regulation did not lay out any framework to actualize different activities reported in the budget,” the former Prime Minister said.

“My worry over the budget is that it has good intentions however it doesn’t have a satisfactory road map and structure to execute the initiatives,” he said.

“Though lot of funds have been created there was no solid direction to convert them into a robust action plan,” he said.

Former PM also expressed his disappointment for not allocating sufficient funds for Rural Development where 70 per cent of people in the country live in rural areas.

Patent disputes: Smartflash sues Apple again over patents

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KS Rao & Team

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February 27, 2015

As most recent reports indicate, a Texas based patent organization Smartflash has sued the iPhone creator Apple once more, this time to concentrate on fresher Apple items.

Not long after a jury in Texas granted it US$532.9 million in harms in a Patent Dispute with Smartphone giant Apple, the new complaint was filed on Wednesday night in the same court.

According to the Smartflash’s lawyer Bradley W. Caldwell’s statement, “Apple has released new items that came out too late for inclusion in Smartflash’s previous action against Apple.”

The new claim alleges that Apple has encroached Smartflash’s seven licenses in its iPhone 6, iPhone 6 Plus, iPad mini 3, and iPad Air 2 gadgets containing any adaptation of iTunes that can get to the iTunes Store or any form of the App Store application.

Economic Survey Report: India’s innovation capacity lower than most BRICS nations

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K S Rao Kunchala

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February 27, 2015

According to the Economic Survey’s 2014-15 report, India positions lower than most BRICS (Brazil, Russia, India, China, and South Africa) countries in terms of Innovation.

“As indicated by the Global Competitiveness Report 2014-15, India’s ability for innovation has been lower than that of many nations like the US, UK, South Korea, and even different BRICS nations except Russia.”.

According to the report, India got 48th rank in terms of innovation with a score of 4.0.

The report ranked China 40th with a score of 4.2 while Brazil 44th and Russia 66th with 4.1 and 3.8 scores respectively.

India is far beneath China when it comes to organization’s spending on Research & Development (R&D), the study said.

“India scores better or is equivalent to other BRICS only in terms of accessibility of researchers and engineers,” it added.

Religious Hostilities: India had most elevated amount of social hostilities in 2013

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KS Rao & Team

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February 27, 2015

As per another study by an American think-tank, India had the most elevated amount of social threats involving a religion and China had the most government confinements in 2013.

As Pew Research Center’s most recent annual study on Worldwide restrictions on religion reveals, among the world’s 25 most populous nations, the most astounding general levels of confinements were found in Myanmar, Egypt, Indonesia, Pakistan and Russia, where both the legislature and society everywhere force various cutoff points on religious beliefs and practices.

Among this list, China had the most elevated amount of government restrictions in 2013, and India had the largest amount of social dangers including religion,” the study said.

Morgan Stanley agrees to pay $2.6 billion in mortgage settlement case

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K S Rao Kunchala

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February 26, 2015

Morgan Stanley, the US-based multinational financial services said on Wednesday that it has recently entered into a preparatory agreement with US regulators to pay $2.6 billion in fine.

As reports say, the US-based multinational financial services organisation needed to pay the fine as it has been found to have an assumed a noteworthy part in pushing the US monetary framework on the edge of breakdown in 2008.

The investigations have been discovered that the home loan industry’s practices affected the US monetary industry so gravely that the framework very nearly given way in 2008.

This created a few mortgage holders default on their credits and had their homes repossessed by the banks.

Clean India Mission: Rs 460 crore sanctioned to 10 states under Swachh Bharat Mission

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KS Rao & Team

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February 26, 2015

Proving the seriousness of Swachh Bharat campaign and taking it to the next level, Urban Development Ministry has so far sanctioned Rs 459.93 crore to ten states as the first portion under Swachh Bharat Mission for the year 2014-15.

As part of financial allocation, Maharashtra got Rs 135 cr, Karnataka got Rs 80.01 cr followed by West Bengal Rs 64.01 cr and Gujarat Rs 40.95 cr, Minister of State for Urban Development, and Housing and Urban poverty Alleviation Babul Supriyou said in a written statement.

Andhra Pradesh got Rs 40 cr, Bihar Rs 37.72 cr, Chattisgarh Rs 30.79 cr, Madhya Pradesh Rs 18.81 cr, Manipur Rs 11.21 cr and Odisha Rs 1.43 cr under the Swachh Bharat Mission.

The assents incorporate Rs 310.10 cr for development of household and group toilets, Rs 48 cr for awareness generation activities and Rs 12 cr for capacity building, the statement said.

Apple ordered to pay $532.9m in patent infringement case

By

K S Rao Kunchala

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February 25, 2015

As per latest media reports, Smartphone giant, Apple Inc has been ordered to pay $532.9 million after a federal jury in Texas discovered that it’s iTunes programming encroached three licenses possessed by patent authorizing firm Smartflash.

As reports indicate, The jury pondered for eight hours and determined Apple had utilized Smartflash’s licenses without consent.

According to available information, Smartflash sued Apple in May 2013, alleging its iTunes programming encroached its licenses related to accessing and storing downloaded tunes and features.

According to the statement given by a legal advisor for Smartflash to Reuters, “Smartflash is exceptionally happy with the jury’s decision, which perceives Apple’s longstanding willful infringement.”

Kingfisher Asset Seized: Banks take over Kingfisher house in Mumbai

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KS Rao & Team

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February 25, 2015

Public-sector lenders on Tuesday took over possession of a Rs.100 crore estimated Kingfisher House.

The 17,000 sq ft property close to the domestic terminal was pledged for the loan.

The banks have taken possession of the property at Vile Parle in Mumbai, as a part of their endeavors to recoup the Rs 6,800 crore credit they had granted to the long-grounded Kingfisher airlines.

As reports say, the Chief Metropolitan Magistrate passed the order and had permitted the banks to take over the possession as part of their recovery.

Payday Lending Regulation: Wonga cuts 325 jobs as regulator tightens scrutiny

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K S Rao Kunchala

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February 24, 2015

Wonga, a British payday loan company announced to axe nearly 33% of its staff just few days after financial watchdog constrained the payday loan firm to cap Interest Rate at 100%.

As reports say, the Competition and Markets Authority (CMA) said it was requesting online payday moneylenders to publish subtle elements of their items on no less than one value correlation site.

In response to wider regulatory crackdown on the industry, Wonga affirmed to axe nearly 325 jobs.

According to their statement, it needed to cut expenses by £25m as guidelines forced by the Financial Conduct Authority (FCA).

Land acquisition ordinance in India: Land ordinance is undemocratic, says Anna Hazare

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K S Rao Kunchala

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February 24, 2015

Blaming the BJP government for animosity towards agriculturists, Social activist Anna Hazare propelled a two-day agitation against the land acquisition ordinance.

Anna Hazare was joined by many supporters at Jantar Mantar in New Delhi and the he said he will take the movement against the ordinance to every single locale of the nation.

“In what manner would you be able to take away land without farmer’s assent. India is a farming nation. The government must consider the farmers concerns. The land ordinance is utterly undemocratic,” Hazare said.

“People in the villages are still not aware of this ordinance. We will make people of each state and region aware of this,” Hazare said.

“The government can’t be not interested to the farmers, it is the people who have made the government,” he added.

FMCG market: P&G to sell almost 100 of their Brands

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K S Rao Kunchala

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February 22, 2015

As indicated by latest reports, FMCG pioneer Procter & Gamble is planning to sell almost 100 brands by the end of summer.

As reports say, the organization has planned to sell a percentage of the low performing brands.

According to media reports, the organization will be selling Duracell batteries which generated around $2.6 billion annual revenue to Warren Buffett’s Berkshire Hathaway next year.

As indicated by the company’s executive statement, the brands being sold by P&G are not powerless and could perform under new managers.

It is simply that they are not executing according to the desires of the management.

India launches site “Madad” to address consular grievances for expatriates

By

K S Rao Kunchala

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February 21, 2015

Government of India on Saturday launched a website for Indian citizens living abroad to file consular grievances online.

Sushma Swaraj, the External Affairs Minister launched the portal ‘Madad’ at the MEA headquarter in Delhi.

“The grievance observing facility would improve accessibility for people and fix more prominent responsibility on authorities,” She said.

As stated the statement of the MEA official, in the wake of enrolling, the complainant can log in and file his or her complaints, and the whole history of that grievance would be looked after on the web.

The officials would be doled out obligation through a colour coded dashboard that would change shading if the reaction in not given in a stipulated time.

India considering unwinding criteria for electronic goods import

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K S Rao Kunchala

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February 21, 2015

As latest media reports say, the Government of India is pondering unwinding criteria for imports of electronic goods, for example, laptop, microwave broiler, cell telephones, TVs by permitting brand holders enlist the items with authorities concerned.

Currently it is obligatory to enlist around 30 classes of electronic items under ‘Electronic and IT Goods Order, 2012’ and the same could be possible by item makers only.

The proposed change in rule will advantage the majority of the Indian portable brands as well as multinational organizations who don’t have assembling base in the nation and import their brands.

Apple plans to develop electric vehicles by 2020

By

K S Rao Kunchala

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February 20, 2015

According to latest media reports, the Smartphone giant Apple Inc expects to start producing an electric vehicle as early as 2020.

As reports say, the iPhone producer is pushing its car team of around 200 people to meet that goal.

Apple’s tech opponent, Google has also made moves to enter the automobile business, however the online search organization is working to build up a driverless auto.

Oil Ministry leaked documents: Two govt employees, Reliance man among Five arrested

By

K S Rao Kunchala

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February 19, 2015

According to the Delhi police statement, five people have been arrested on charges of stealing official records from the Petroleum and natural gas ministry and selling them to energy companies.

As per the statement, “examinations further uncovered that the stolen records were being sold to some people of private energy organizations.”

In a significant improvement in the suspected surveillance case, Delhi Police said that a Mukesh Ambani-led Reliance Industries (RIL) staff member was arrested along with two Petroleum Ministry employees for allegedly leaking the records.

Petroleum Minister Dharamendra Pradhan said that strict move will be made against those involved in the case and they will be severely dealt with.

Young professionals should have a global approach

By

K S Rao Kunchala

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February 19, 2015

Raghuram Rajan, the Governor of Reserve Bank of India (RBI) urged young experts to have a global methodology accentuating how the orientation towards India has become more positive in the developed world.

Addressing mentors of the underprivileged students under an initiative called `Greenbatti’, Rajan said, the developed nations are more serious about working with India, we require the ability to begin, we require the intellectual capital.

“The entire procedure will take some time. Anyhow this is something we have to deal with,” he added.

For India, its imperative to have an open world and free enterprise; democracy and free markets connected. Democracy will help wealth that is made in a reasonable manner,” Rajan said.

US President: We Are Not At War With Islam

By

KS Rao & Team

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February 19, 2015

The US and its partners are not at war with Islam however with people who have perverted the religion, US President Barack Obama has said on Wednesday at the White House Summit on ‘Countering Violent Extremism’

“ISIL and al-Qaeda and groups like it are desperate for legitimacy. They attempt to depict themselves as religious leaders, holy warriors with regards to Islam,that is the reason ISIL presumes to pronounce itself the Islamic State,” he said

“Those outside Muslim groups need to reject the terrorist narrative that the West and Islam are in clash or modern life and Islam are in conflict,” he added.

“I also believe that Muslim groups have responsibility too. ISIL and al-Qaeda do draw selectively from the Islamic texts,” he said.

“Everyone needs to speak up very clearly that regardless of what the grievance, brutality against innocents doesn’t safeguard Islam or Muslims, it harms Islam and Muslims,” he said.

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