SINGAPORE FL IES & SETTLES CLOSER HOME!

GMR Hyderabad International Airport Limited (GHIAL) has inked a deal with Singapore’s Accor Hotels to build a business hotel for the up coming Shamshabad airport in Hyderabad. As per the deal, GHIAL will construct the hotel (at a distance of just 2.7 kms from the airport) and its Singapore partner will take care of the operations, management and maintenance. The lease of the agreement is for a period of ten years (might be extended later) and the airport project is expected to take off by March 2008.

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Source : IIPM Editorial, 2006

An IIPM and Malay Chaudhuri – Arindam Chaudhuri Initiative

NOW AUSSIES GET INSURED IN UK

Insurance Australia Group Ltd. (IAG), the largest auto and home insurer in Australia, has its eyes set on the $25 billion motor insurance market in UK. It has agreed to buy UK’s fifth largest auto insurer, Equity Insurance Group for a sum of $1.1 billion. This will be the Australian comany’s third buyout in UK within a short span of just two months. The acquistion was spurred by a 3.6% drop in IAG’s premium in the second half of 2005, due to rivalry in the home market. IAG (second largest insurer in Australia by premium income) hopes to make up for its waning sales in the home market with this acquisition.

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Source : IIPM Editorial, 2006

An IIPM and Management Guru Professor Arindam Chaudhuri's Initiative

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Group's Operations

However, the way he managed the group’s operations gave a clear message to his critics that he won’t let things pass away easily. Kumaramangalam brought in a new breeze in the organisation. He not only introduced stricter and new-age management concepts, but also restructured and streamlined the operations of the group. He changed the recruitment policy of the company, and instituted a retirement policy, which helped in bringing a much younger, energetic and dynamic workforce to the group companies. He also introduced new age management concepts and laid stress on empowering the group as a whole, rather than resting powers with individual companies.

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Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006

WII WOOS THE GAMERS

For avid gaming enthusiasts, Christmas arrived well in advance with the launch of Nintendo Wii on November 17. Though, Microsoft ’s Xbox 360 & Sony Entertainment’s Playstation- 3 are already in the market, the launch of Wii is surely going to alter the dynamics of competition in the console gaming industry. While the competition enjoys a considerable lead over Wii, Nintendo is banking upon its base of loyal customers who swear by the motion sensibility of the console. With its motion sensitive controller representing a TV remote, Nintendo is better placed to be the most user friendly gaming console in the market.

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Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006

Tourist and the Business Traveller

But that’s no solace for the tourist and the business traveller. This season, the occupancy rates (ORs) for premium hotels are well in excess of 75%. The hotel industry is sizzling to the beat of towering numbers generated by a booming economy. Just like occupancy rates, the revenue per available room (RevPAR) spiraled up by 30-45% for the half year ended September 2006 in contrast to the previous year. Average room rates (ARRs) too are witnessing a phenomenal rise. Bangalore witnessed highest ARRs leaving metros like Delhi and Mumbai behind on account of the IT/ITeS wave in the city. If you need a room in the IT capital for one day, you have to shell out in excess of Rs.12,000 per day, a rise of 25% as compared to a year earlier. Chennai and Hyderabad too experienced a swell of 30% in ARRs.

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Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006

FRANKLIN TEMPLETON SPREADS ITS WINGS

On the road to become one of the few foreign asset management companies to own a 100% stake in the Indian mutual fund business, Franklin Templeton Investments has announced that it would buy out the 25% stake held by Hathway Investments of the Rajan Raheja Group of Companies in its joint venture in India – Franklin Templeton Asset Managemet India Private Limited (Franklin Templeton AMC). This acquisition, though, would be subject to regulatory approvals and execution of the agreement. Currently, Deutsche Asset Management Company and Fidelity India Fund Management are the other two wholly foreign AMCs operating in India.

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Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006