13 Indian cos among world's 500 most valued firms

Thirteen Indian firms, led by Reliance Industries, have made to the list of world's 500 most valued companies compiled by the UK business daily Financial Times, even as 12 of them fell down from their previous rankings amid weak stock market trends.

Excluding tobacco-to-consumer goods major ITC, all the 12 Indian companies present on the list, including RIL, ONGC, NTPC, SBI, Bharti Airtel, DLF and Reliance Communications, saw their rankings drop in the latest FT Global 500 list, topped by American energy giant ExxonMobil with a market value of 452.5 billion dollars.

FT publishes the list based on the market capitalisation of the companies at the end of every quarter and the latest rankings are based on March-end figures for this year. The previous list was based on market cap figures at the end of December 2007.

In the global list, ExxonMobil has replaced China's PetroChia as the most valued firm, while US industrial conglomerate GE has retained its third position. Other firms in the top 10 include Gazprom, China Mobile, Industrial and Commercial Bank of China, Microsoft, AT&T, Royal Dutch Shell and P&G.

Among the Indian companies, Mukesh Ambani-led RIL has been ranked the highest at 80th, down 15 places from 65th earlier, with a market cap of 82 billion dollars.

RIL is followed by state-run ONGC at 148th (down from 115), public sector power major NTPC at 206th (down from 163), Sunil Mittal-led telecom giant Bharti Airtel at 218th (down from 193), realty major DLF at 329th (down from 195) and Anil Ambani-led Reliance Communications at 350th position (down from 252). However, ITC climbed six spots to the 484th place, with a market value of 19.38 billion dollars.

BillGates Last week as Microsoft's FullTime Employee

Bill Gates isn't really leaving Microsoft; he's just shifting how much time he spends there.

In late May, I chatted with Gates over cocktails before he and CEO Steve Ballmer made their final public appearance together at the D Conference in Carlsbad, Calif. Gates said he spends about 80 percent of his time at Microsoft and another 20 percent at the Bill & Melinda Gates Foundation. From July 1, that 80-20 ratio will flip, with the majority of Gates' time being dedicated to the charitable endowment.

And Gates really hasn't been involved in day-to-day operations at Microsoft for a while.

For example, during the D Conference, Gates said, other than consulting with Ballmer as a friend, he wasn't involved in Microsoft's attempted, and failed, takeover of Yahoo. In addition, Gates' role as visionary has greatly diminished, particularly after his successors—Ray Ozzie, chief software architect, and Craig Mundie, chief research and strategy officer—fully assumed their positions during the last year.

As chairman and the largest stockholder in the company, Gates will always have a role at Microsoft. But as chief influencer, Gates left long ago.

Gates announced his departure two years ago, as part of a long transition from monopolist to philanthropist. But Gates' exit really started in 2000, when Ballmer replaced him as CEO. A transition from charismatic founding leader burdens any company, and Microsoft has taken eight years to move from Gates to Ballmer. The change is sure to affect Microsoft during its fourth decade as an incorporated entity.

Even with waning influence, however, Gates is an important figurehead who casts a long shadow over most other Microsoft executives.

Technical expertise is one reason. More>>

Idea Cellular to buy Spice Communications

Idea Cellular, India's fifth-largest mobile operator, said on Wednesday it would buy Spice Group's 40.8 per cent stake in another mobile firm, Spice Communications, at Rs 77.3 per share.

Idea also said it would merge Spice with itself through a share swap where Spice shareholders would get 49 Idea shares for every 100 Spice shares held.

Spice has operations in two out of a total 23 telecom circles and has a customer base of more than 3 million while Idea is present in 11 circles and has a customer base of over 26 million. India, the world's fastest-growing mobile services market and the second-largest market after China, has lured foreign firms like Vodafone Plc which last year bought a controlling stake in the third-largest local cellular firm.

India has 269.30 million wireless users at end-April, up 57 percent from a year earlier, according to the telecoms regulator.

Nokia to acquire Symbian: make it open source

GLOBAL - Nokia today announced a plan to acquire the 52 per cent of Symbian it doesn't already own and set up the Symbian Foundation, making the platform open source in the process. The ambition is to create "the most attractive platform for mobile innovation and drive the development of new and compelling web-enabled applications" Nokia CEO Olli-Pekka Kallasvuo.

The full press release is below:

Espoo, Finland - Nokia today announced it has launched a cash offer to acquire all of the shares of Symbian Limited that Nokia does not already own, at a price of EUR 3.647 per share. The net cash outlay from Nokia to purchase the approximately 52% of Symbian Limited shares it does not already own will be approximately EUR 264 million.

Nokia has received irrevocable undertakings from Sony Ericsson Mobile Communications AB, Telefonaktiebolaget LM Ericsson (publ), Panasonic Mobile Communications Co. Ltd. and Siemens International Holding BV to accept the offer, representing approximately 91% of the Symbian shares subject to the offer. Nokia also expects Samsung Electronics Co. Ltd. to accept the offer.

The acquisition is a fundamental step in the establishment of the Symbian Foundation, announced today by Nokia, together with AT&T, LG Electronics, Motorola, NTT DOCOMO, Samsung, Sony Ericsson, STMicroelectronics, Texas Instruments and Vodafone. More information about the planned foundation can be found at www.symbianfoundation.org.

"This is a significant milestone in our software strategy" said Olli-Pekka Kallasvuo, CEO of Nokia. "Symbian is already the leading open platform for mobile devices. Through this acquisition and the establishment of the Symbian Foundation, it will undisputedly be the most attractive platform for mobile innovation. This will drive the development of new and compelling, web-enabled applications to delight a new generation of consumers."More>>

The Evolution of Tech Companies Logos

You’ve seen these tech logos everywhere, but have you ever wondered how they came to be? Did you know that Apple’s original logo was Isaac Newton under an apple tree? Or that Nokia’s original logo was a fish?

Let’s take a look at the origin of tech companies’ logos and how they evolved over time:

Read Full Article>>

Mukesh Ambani to head India-Russia CEOs' forum

Reliance Industries Chairman Mukesh Ambani will co-chair the India-Russia CEOs' Council, which was established on Wednesday to strengthen bilateral business cooperation in the areas of oil, energy, power, transport, telecom and high technology.

This was announced by Commerce and Industry Minister Kamal Nath at the conclusion of the 2nd meeting of India-Russia Forum on Trade and Investment, coinciding with the visit of Russian Prime Minister Victor A Zubkov.

Ten CEOs each from India and Russia will be on the Council, which will work towards converting about 8 billion dollars worth of projects under discussion and explore new areas for trade and investment.

With the setting up of the business council, "the level of economic engagement between the two countries should increase," Nath said, while addressing a joint press conference with Russian Minister for Economic Development and Trade Elvira S Nabiullina.

Nabiulliana said, "CEOs' Council will be useful to increase the trade manifold between the two countries."

The two BRIC (Brazil, Russia, India, China) countries had agreed on Tuesday to boost the bilateral trade to 10 billion dollars by 2010.

AOL to End Netscape Support in March

Today, we would've been penning AOL's Netscape's orbituary had it not been for the last minute breather given to the browser on Wednesday this week.

Tom Drapeau, director of Netscape, AOL, who famously stopped development on Netscape in December last year, and who set Feb 1, 2008 as the deadline for ending all support to the browser was the same person who on Wednesday pushed forth the deadline to March 1st this year
The reason he cited is that Netscape and partners need more time to complete work on the tools necessary for users to migrate to Mozilla's Firefox or Flock's Flock browsers.

In a post to the Netscape blog, Drapeau explained that Mozilla, Flock, and AOL are working towards providing tools to ease migration to the recommended Flock and Firefox alternatives.

He also said that for Netscape 9 users, an upgrade would be issued through the browser's integrated update feature to help streamline the process of choosing between alternatives (Firefox and Flock).

But even for Drapeau, Flock is a new recommendation, because in December 2007, he had recommended only Firefox as possible successor to Netscape. Flock is a free browser with social networking features, and is built on Firefox code base. read full story

Hyundai to make India global hub for small cars

Hyundai Motor India (HMIL) plans to invest $1 billion overall in its second plant, which commenced operations here on Saturday. This will further strengthen its resolve to make India its global hub for manufacturing small cars.

As part of its expansion programme, the company has so far invested $750 million and plans to invest the balance over the next couple of years. HMIL, which kick-started its operations by breaking ground for its first plant near Chennai on December 10, 1996, had invested $733 million during first phase.

“We have recorded huge success in India over the last ten years. Our new plant will be the platform for future growth. I’m sure HMIL will play its role perfectly as a global manufacturing hub for all of our small car models,” Mong-Koo Chung, chairman & CEO, Hyundai Motor said here on Thursday.

Earlier, Tamil Nadu chief minister, M Karunanidhi inaugurated the second plant operations amidst the presence senior officials of the state government as well as from Hyundai, besides R C Panda, Union secretary, ministry for heavy industries.

“Hyundai had set up a plant initially with a capacity of 1.3 lakh units per annum. In less than ten years since then, it has now scaled up its capacity to 6.3 lakh units per annum, which is a record growth for any car manufacturer in India,” Mr Karunanidhi said. read full story

What is Recession?

I come across most of folks ask me about what is recession and how it affects the country's economy. It gives me chance to bring some good resources into this blog. I have collected excerpts from few sites and posting here.

about.com

The official definition of recession is when GDP growth is negative for consecutive two quarters or more. However, you can feel like you are in a recession before it has officially started because it is usually preceded by several quarters of slowing but positive growth. It feels like a recession when GDP growth slows, businesses stop expanding, employment falls, unemployment rises, and housing prices decline.

For example, the stock market crash and subsequent economic downturn in 2000 was not a recession in technical terms. GDP growth was negative in Q3 2000, Q1 2001, and Q3 2001. However, anyone who lived through it knows that it felt like a recession during all that time. And in fact, GDP growth did not reach over 3% until Q3 2003.

Wikipedoa.org

A recession is a decline in a country's gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year.

An alternative, less accepted definition of recession is a downward trend in the rate of actual GDP growth as promoted by the business-cycle dating committee of the National Bureau of Economic Research.[1] That private organization defines a recession more ambiguously as "a significant decline in economic activity spread across the economy, lasting more than a few months." A recession may involve simultaneous declines in coincident measures of overall economic activity such as employment, investment, and corporate profits. Recessions may be associated with falling prices (deflation), or, alternatively, sharply rising prices (inflation) in a process known as stagflation. A severe or long recession is referred to as an economic depression.

howstuffworks.com

When the nation is in the early part of a recession, nobody knows for sure if it is actually a recession or not. The economy might turn around the next day, which would mean the contraction was just a temporary decrease in activity along a mostly upward track. Economists don't know if the economy is in recession until they can gather data over an extended period of time -- typically six months or more.

There is no strict definition for recession. Different people consider different factors when making the assessment.

Some economists and journalists define a recession as two consecutive quarters (three-month financial periods in the year) in which the gross domestic product (GDP) decreases.

In the United States, the economy follows a somewhat regular pattern of expansion and contraction. The economy will typically expand steadily for six to 10 years and then enter a recession for six months to two years. The point where the recession begins is known as a peak, and the point where it ends as known as a trough. Following the trough, the economy expands again toward another peak. Economists call the period of time between two peaks a business cycle.