Amway planning second facility in India

•  Amway India, a direct selling Fast Moving Consumer Goods (FMCG) company, planned to set up their second manufacturing facility in the country in South India

• It would help the company to boost its sales and increase its product range

• The company, a 100 per cent subsidiary of US-based Amway Corporation, had been witnessing a 25 per cent year-on-year growth in its revenues

• For setting up the present manufacturing facility, the company has inked an agreement with Baddi-based vendor Sarvotham Care Ltd

RBI likely to hike policy rates this week to curb inflation

• The Reserve Bank may further hike its key policy rates during the monetary review on September 16, going by the suggestion of Finance Minister Pranab Mukherjee to the central bank to take more steps to check rising prices

• It may further tighten its policy rates to tackle rising inflation, specially food prices, with strong July industrial production numbers providing confidence that the growth won't be impacted by the move

 Lotto to expand retail reach in India

• Italian sportswear brand Lotto is working on strengthening its presence in India by expanding retail reach and driving volume growth

•  In Asia, India currently comes at number three after Japan and China in terms of turnover contribution to Lotto's global sales

• Today Lotto has about 45 exclusive stores, which are likely to go up to 200 in the next three years. The parent company has also said that it will invest USD 10 million in providing marketing support to the Indian entity

• Recently, Lotto has extended its agreement with us (Sports Lifestyle) for the next 15 years. This means that the company is committed to India

Google's Android to be world No. 2 in 2010

• Google Inc's Android software will become the world's second most popular operating system for cell phones this year

• By 2014 Android will account for nearly 30 percent of all cell phone operating system sales, according to research firm Gartner, putting it in position to challenge Nokia Corp's Symbian software, which has reigned as the top mobile operating system for years. 

• Android became the No. 1 operating system for U.S. smartphones in the second quarter

Axis plans HR overhaul to build its future team

• Axis bank is taking the assistance of human resource consultancy firm Cerebrus Consultants and Hewitt to get its HR structure aligned to its growth strategy

• The bank had created verticals around various businesses and is now looking to deploy human resources around this structure and putting in place a fitting compensation package.

• Ms Shikha Sharma said one of Axis’ strengths was its relationship with its retail customers, and it was now looking at deepening the relationship through a wider product range. In the works is capital market services such as internet broking, for which the bank will seek a broking licence through its wholly-owned subsidiary, Axis Sales, which is currently a distribution arm.

Axis plans HR overhaul to build its future team

• Axis bank is taking the assistance of human resource consultancy firm Cerebrus Consultants and Hewitt to get its HR structure aligned to its growth strategy

• The bank had created verticals around various businesses and is now looking to deploy human resources around this structure and putting in place a fitting compensation package.

• Ms Shikha Sharma said one of Axis’ strengths was its relationship with its retail customers, and it was now looking at deepening the relationship through a wider product range. In the works is capital market services such as internet broking, for which the bank will seek a broking licence through its wholly-owned subsidiary, Axis Sales, which is currently a distribution arm.