Executives from Nestle and General Mills attended the opening of an innovation center for Cereal Partners Worldwide, (CPW), a joint venture between the two companies located in Orbe, Switzerland. The new $50 million facility will focus on innovation to deliver new consumer benefits through CPW’s breakfast cereals, including improved nutrition,...
Shopper's Stop retail sales jump 20 percent
The operator of Crossword, Mothercare, M.A.C. and HyperCity stores said that its sales for the last quarter rose to $101 million, an increase of 20 percent. Same-store sales, a measure of growth based on sales in stores that have been open for at least a year, were up 22 percent according...
Bayer AG forms a pharm joint venture to address India market
Bayer AG of Germany is forming a joint venture in Mumbai with Cadila Healthcare Ltd to distribute pharmaceuticals in Indi.. Each company will hold 50 percent of the shares in the Mumbai-based venture, which will be called Bayer Zydus Pharma. The 600 person entity will focus on women's healthcare, diagnostic...
Ports and Shipping to attract $100 billion by 2020
Only in India, will a new policy that covers the period from 2010 to 2020 be released in January 2011. A year late is still good, just take the targets with a grain of salt. Shipping Minister G.K. Vasan hopes to more than triple India's annual port handling capacity to...
Obama to arrive in India, the view from Mumbai
I just arrived at the Trident Hotel in downtown Mumbai's Nariman Point neighborhood. KCRW Radio's Warren Olney had me LIVE on "To The Point" as I entered one of the sites that was attacked by terrorists in November 2008. Click here to listen to the show and tell me what...
Mumbai, Delhi spawn India's Richest Persons
According to the latest tally of India's richest persons by Forbes Magazine, Mumbai (formerly Bombay) is home to 45 of the 100 most wealthy Indians, including Mukesh Ambani, the richest man in India. In my book I noted how almost 40 percent of India's personal income taxes are collected in...