Presented by- Simmy Bansal

Weekend News

Nita Ambani may board EIH for RIL

Reliance industries may nominate its chairman Mukesh Ambani’s wife Nita Ambani to the board of East INDIA Hotels as and when the luxury chain decides to offer directorship to INDIA’s largest sector company .

RIL bought 14.12% stake in EIH,which runs the oberoi and Trident chains,for rs.1,021crore on Monday.

EIH board has eight directors,including its chairman PRS oberoi and his own son vikram.

Mrs Ambani has joined the board of RIL’s sports joint venture company with American major IMG.

Mrs Ambani had started handling IPL team Mumbai INDIANS in 2008.

Her presence on the board will results in fostering and cementing relationship with the oberoi family.

Managers from India now handling operations of parent co elsewhere.

There spike in the number of HUL managers who have moved out of India to join its parent’s operations elsewhere:40 in 2008,140 in 2009 and 195 in 2010.

Managers of HUL are on the move,literally and figuratively.

HUL turns global talent export hub for Unilever

Faced with stagnancy in the US and western europe,Unilever,the world’s third-largest food and consumer goods company,is looking at Asia,Africa,central and Eastern Europe as its prime growth driver.

In 2009,these markets accounted for 50% of Unilever’s revenue of $39 billion.

Managers deal with a competition that is multinational,home grown and local.

Buoyed by 28.4% jump in net profit,punjab national bank,aims at raising deposits by 20% during 2010-2011 besides launching micro insurance products in six months.

Their plans is to increase deposits by 20% and credit by 22% during the current fiscal.

Deposits rose to Rs 2.55 lakh crore in 2009-10,registering a 16.6% jump over previous year.

PNB aiming at raising deposits by 20%

PNB executive director MV tanksale said that,the net profit PNB mounted to Rs 1,068 crore,an increase of 28.4% over the previous year.

During the first quarter net profit amounted to Rs 1,068.29 crore,compared with Rs 832.05 crore in the corresponding quarter last year.

MOBILE TRADING SET TO TAKE OFF SOONMobile trading would allow stock brokers to provide securities trading using wireless technology.

The unique identification number used in case of internet based trading will be applicable for securities trading using wireless technology.

Mobile trading will increase the investor base in long run.

Telecom technology in India is good enough for running stock trade over cell phone. 3G set-up will increase execution speed as well.

Kotak securities managing director D kannan said that “we will launch our mobile trading application to provide investors access to features such as live quotes, live streaming data, watchlists, charting facilities, reports & real time profit & loss in investor’s position’s & portfolio