Business networking is the buzzword across the globe with marketers and professionals trying to catch hold of active networkers in order to promote themselves. Indians are not only aware of the buzzword but are also one of the most active networking community.

ZaaBiz has various active business groups with focus on regional networking. Groups like Business Networking in Delhi, Business Bunch Chennai, Business People in Bangalore, Business Networking Group in Mumbai and many more. But Business Networking Group in Mumbai is one of the most active and fast growing business groups. The group has crossed 200 active members. The response to the group has been phenomenal and i would take this opportunity to thank and congratualte all the members of the group.

On belhalf of ZaaBiz, we would like specially thanks Rahul and Suhani the moderators for the group, for all their efforts to make business group as big as it is today and wish the same active participation continues. For people who are missing out on all the fun of networking, its never too late to catch up. Join our ZaaBiz and be a part of the networking revolution.

Congrats once again to all the members of the group “Business Networking Group in Mumbai“.

Managing a company of the size of Citigroup is not an easy task, and that is what Mr.Vikram Pandit has been doing for the past one year. He might have been placed among the worst CEO’s ever but that does not fail him as a strategist. In 2009, Citigroup is the only company in the financial sector that has managed a profit in the first quarter despite the five consecutive losses worth millions of dollars. IT firm Cognizant Technology is possibly the only other American blue-chip company in this league to report a rise in profits for the same period. Other companies like Pepsi which is led by another Indian and more have not managed to be successful. It might not be a great but a good beginning for Indian led companies to emerge successful this year.

Citgroup

ZaaBiz would like to wish all the NRI CEO’s a great 2009, hope they can beat the losses this year.

It was less than two weeks ago when India was still struggling with its share market, now all of a sudden there has been a miraculous turn around of events. The market has recovered by 58% and the most unimaginable part of it, 400 companies have soared high by 100%. Its like a dream come true for the Indian investors from times of fear. Its all behind us now. With such an impeccable performance, world economy is now eying India for support and growth. India is truly a magic land for investors.

Stock market - India

Out of the 2600-odd stocks listed on the BSE and NSE, 405 stocks have at least doubled their values from their 365-day lows touched in October last year. Simply put, one out every six stocks has gained over 100% from their one-year bottom. With sensex gaining momentum, the prices of many index constituents have gone up. Its la - la time for India. We at ZaaBiz hope that things remain the same for India over the future period, unless global recession is dumped and markets have stabilized.

The asterisk on airline fare advertisements that could translate into many thousands payable over and above the low-sounding basic fares is set to go. Director General of civil aviation has given all airlines, may it be a domestic or an international player, 30 days to correct their pricing reflecting in their websites, systems and travel agent database so that passengers get a single all-inclusive figure of the total amount payable.

The new directive will also ensure a watch on the service providers so that the fare levels are fairly charged and that no avoid cartels in the industry. Once the time period for correction expires, the service providers will be asked for a compliance report.

This step has been taken by the government so that the air travellers are not misguided with regards to pricing. The pricing will not include base price and all the applicable taxes levied by the government.

The new directive is a boon for all the travellers across the country. For more such articles and discussions on travel visit ZaaBiz.

Popular sedans, the Maruti SX4, the Honda Civic and luxury cars may become cheaper by up to Rs 50,000, if a proposed duty cut being discussed by the government gets implemented. The ministry of heavy industries has written to the finance ministry to waive off the specific excise duty levied on mid-size and top-end cars last year.

The government had imposed an additional tax of Rs 15,000 on cars having engine size between 1,500-2,000cc and Rs 20,000 on all vehicles beyond 2,000cc. But the actual impact on the selling price of cars was much higher, as the tax was imposed on ex-factory price of vehicles over which consumers have to incur the burden of sales tax and other local levies.

The additional tax, which was to discourage consumers from buying the gas guzzling vehicles, has impacted sales of premium cars. Besides withdrawing the specific excise duty, the heavy industries ministry is also planning to extend help to multi-purpose vehicles, as they have been badly hit by the financial slowdown.

With the government reducing the duties it is for sure that the premium car market sales is set to boom or at least meet the desired growth level.

Having turned a 100 days old in his Office Obama has started the latest mantra ‘Say no to Bangalore and yes to Buffalo,’. Meeting one of his major election promises, Obama yesterday announced end to years of tax incentives to those US companies which create jobs overseas in places like Bangalore. Instead, the incentives would now go to those creating jobs inside the US, in places like the Buffalo city — bordering Canada in upstate New York. If this step is concreted Indian IT and ITes companies will suffer severe losses.

Mr.Barrack Obama

However in anticipation to this problem, Indian IT giant Wipro has already made his move by acquiring some companies in Europe. There is more opportunity in Europe than America. In fact this is a good opportunity for Indian companies to expand into newer markets increasing market size and creating new markets for them.

Mr. Azim Premji

Also, other attempts by Obama to keep the money only within America might actually harm the economy more than allowing it to grow. If it tries to keep it circulating the money in only America, it is likely their export markets in countries of Europe and Australia might be affected. I feel it is a bad idea to do so.

Obama’s strategy of giving tax benefits to its American companies might have a reverse impact on his expectations. If tax benefit is less than the savings that American companies make from outsourcing to India, then it is a loss for the company. Obama must keep these factors in mind before he freezes on his decision.

Its been eight months since India has seen its sensex rising so high, touching 12000 mark. Its been a great comeback for India after being affected by recession. Metals, banks and teach stocks are leading the market rally. Indian investors have not seen such a day since October 18th, 2008. The market had been in doubt and dilemma for the past 7 months awaiting this day. Similarly, the wide-based National Stock Exchange index Nifty shot up by 148.50 points to touch a seven-month high of 3,622.45 points.India doing well is an indicator that there is hope that world market is likely to come to life again. The ball is in India’s court.

A few days ago Jet Airways and Kingfisher had merged some of their services to cut cost. Today Chrysler and Fiat are in looking to merge to save on cost. Is this a new trend in business? All businesses whether manufacturing and or services have been facing financial troubles owing to the economic problem, but off late there have been stories of big corporates tying knots to save on cost and manage operations from common resources. It certainly does help to reduce cost of service or production but at the same time it also reduces competition in the market. If maximum corporates form alliances with competitors prices would be more or less similar to each other, the consumer would have barely have much of choices, which in turn might reduce their spending power. It would then turn into a cyclical problem. May be the market must think of new methods to woo business and save on cost. ZaaBiz is looking for new solutions to such problems and might emerge with some solution, so be updated with us.

As you are aware that we have a phenomenal growth in member base in India and some great business groups like Business Networking in Mumbai, Business People in Chennai, Business People in Delhi and Bangalore. Our NRI members in Australia requested us to have a similar platform of interaction. In accordance with the popular demand we have started a group called “NRI’s in Australia”.

The group would largely focus on all the NRI’s living in different cities of Australia. There are forums like “Introduction”: which includes education, occupation, interest and hobbies of the members , “Experience” where members can share experiences during the stay in Australia, “Places to Visit” and “Food Buffs”  for food loving Indians and many more. This group will help connect with all Indians living in Australia and thus you have an opportunity to connect with the Indian culture and tradition inspite of being away from India. Join the group “NRI’s in Australia” to network with fellow NRI’s.

Finally there is a piece of good news as far as recruitment is concerned. While the entire western world is on a cost cutting spree by way of reducing the manpower India Inc is acting different. Public sector banks in India will hire about 30,000 personnel during 2009-10 as per the Institute of Banking Personnel Selection director M Balachandran. The institute has been rendering assistance to financial sector in the activities of employee’s selection, promotion and placement.

The large number of employment opportunities are scheduled to emerge due to branch expansion, expected business growth and aggressive marketing. A larger share should also go to Public sector banks who are set to increase fee-based income like distribution of insurance policies, mutual funds and other financial products. All these policies have let to increased need of specialized manpower in financial sector.

It is a great chance for young Indians to be a part of corporate world as many such opportunities are set to be offered.