Weekly Newsfrom 1st nov. to 7th nov.

By: Amandeep Sharma

ONGC eyes Exxon stake in Angolan field for $2 b

• INDIA’S largest explorer, Oil & Natural Gas Corp, or ONGC, is negotiating with global energy giant ExxonMobil’s Angolan arm to buy its 25% stake in an oil field for about $2 billion.

• To catch up with Chinese competitors that have left it far behind in the race for black gold in Africa and other parts of the world. 

Zandu ka naam hua Munni tere liye

• Dabangg Song Sends Balm’s Sales Soaring 35% In Sept Quarter.

• In early September, Emami, the Kolkata-based maker of Zandu Balm, sued Dabangg producer Arbaaz Khan over use of Zandu Balm in a hit song.

• With a large dose of controversy seededby the Salman Khan starrer, Emami has doubled the sales of Zandu Balm in the July-September quarter to nearly 35%, and in the process, reported on Monday one of its best second-quarter results yet. 

Philippines to turn call centre capital of world

• THE Philippines is set to overtake India as the world’s back office for voice-based customer support and sales this year, as firms such as Cisco, HSBC, T-Mobile and BT Plc shift work to the nation to avoid India’s high staff turnover, and build an alternate support hub. 

Ctd…

• Of India’s total BPO exports, nearly 45% comes from voicebased work, which is expected to be around $5.58 billion this year. However, the Philippines BPO industry will post almost $5.70 billion of pure voice-based revenues in 2010, higher than its bigger outsourcing rival, research firm Everest and the Business Process Association of Philippines (BPAP) say. 

Harley to assemble bikes in India

• Harley-Davidson will start assembling

select models in India, making them about 20-25% cheaper, in a bid to crack the booming Indian premium bike market dominated by Japanese brands. 

• The upcoming facility at Bawal in Haryana will become operational in the first half of 2011 with an initial capacity to assemble 200 bikes per year, the company said on Tuesday. 

Hajmola gets Afridi for Pak

• If hiring a local celebrity for Hajmola proves a success, then Dabur may follow the same strategy for its Amla and Vatika hair oils, gels and shampoos that too are sold in Pakistan, company officials said. In hair oils, it competes with local brands like Bio Amla and Kala Kola in Pakistan. 

OBAMA COMES JOB HUNTING

• US to relax regulations making it easier for American firms to export products to India that can be used for both civilian & military purposes

•     The concession on the export-control rules apart, the President’s speech was firmly focused on the potential of the Indian market and the jobs that exports to India could create. 

SPICEJET, BOEING INK $2.7-BN PACT

• SpiceJet and Boeing have concluded an agreement for sale of 30 B737-800 commercial aircraft. The transaction is valued at around $2.7 billion, based on catalogue prices, with an estimated $2.4 billion in US export content, supporting an estimated 12,970 jobs.