www.2point6billion.com



Europe, United States Woo Indian Tourists (Feb 6)
Average Indian family spends US$10,000 overseas Feb. 6 – As the global credit crunch hits domestic holidaymakers in Europe and the United States, with many downsizing their 2012 holiday plans, tour operators are looking to newly wealthy Indian customers to make up the numbers. Countries such as Switzerland, Germany, Austria and France have all released specific Indian-targeted holiday programs, specifically reaching out to attract Indian nationals for the first time.


Indian Supreme Court's Telecom Verdict Damages National Interests (Feb 6)
Decision goes beyond court’s purpose, punishes wrong people, hurts international image, and will raise prices for Indian consumers Op/Ed Commentary: Chris Devonshire-Ellis Feb. 6 – One day they’ll make a film about this case – corrupt bidding, jailed ministers, a vindictive judge and a cast of 80 million telecom subscribers. India’s Supreme Court on Thursday axed all 122 2G telecom licenses and forced a new bidding process on a government-approved tender that saw both domestic and international telecom investors spend billions on rolling out 2G telecom networks on a national scale serving some 60 million users. Those networks are now to be … Continue reading →


Finnair Flight Attendants Celebrate India's National Day (Feb 3)
Feb. 3 – To celebrate India’s Republic Day, nearly all 50 crew members of Finnair Flight 21 from Helsinki to New Delhi on January 26 entertained passengers with an impromptu Bollywood-style dance performance. Dressed in traditional Indian attire, the crew members danced and lip-synced to the song Deewangi Deewangi from the 2007 Bollywood film Om Shanti Om. The video can be seen here:


India and China's Retail Industries Compared (Feb 2)
As big-name retailers like Best Buy and Home Depot exited China last year, India has just liberalized its single brand retail to permit 100 percent foreign investment. A comparison of India and China’s retail markets reveals some lessons for retailers in both markets. The key points? Second and third-tier cities. Continue reading →


Millions Spent as India Buys International Soccer Stars (Feb 1)
Following the massive success of the Indian Premier League Cricket, the same formula – where provincial teams can bid at auction for foreign players and coaches – has just been repeated in the inaugural Indian Premier League Soccer. Five franchises collectively spent nearly US$7 million, each buying an "icon" player, two overseas footballers, and a coach. Continue reading →


Why I Threw Away My Mobile Phone (Feb 1)
Op/Ed Commentary: Chris Devonshire-Ellis Feb. 1 – I don’t have a mobile phone. For many years I did, and religiously bought the latest designs – always the top end of the brands on offer: the Sony Ericsson and all the iPhones up until the iPhone 4. Then I stopped. It wasn’t planned, but yet again I had lost or had stolen a relatively expensive device – being the first to own the latest often comes with a US$1,000 price tag. I had my iPhone pickpocketed in Hong Kong about 10 months ago, and bought an iPhone 4 as a replacement. So … Continue reading →


India FDI Investment Good to Go for MNCs at Davos Forum (Jan 31)
A report issued by Ernst & Young at the World Economic Forum in Davos says that foreign direct investment in India is set to swell in the coming years as investors look beyond perennial issues such as a lack of transparency, poor infrastructure and government policy paralysis in their search for growth. Continue reading →


Norway May Halt China's Arctic Council Ambitions (Jan 27)
Jan. 27 – Norway could block China’s attempts to gain permanent observer status on the increasingly relevant Arctic Council due to a souring of relations between the countries over the last few years, according to a report on Wednesday in Aftenposten – Norway’s largest newspaper. “As long as the Chinese authorities refuse to speak to their Norwegian counterparts, it will be difficult for Norway to say yes to a (Chinese) candidacy to become a permanent observer on the Arctic Council,” an unidentified “highly-placed diplomatic source” told the paper.


ConocoPhillips, CNOOC Agree to Pay US$160 Million for Bohai Bay Oil Spill (Jan 26)
Houston-based ConocoPhillips and CNOOC have reached a financial settlement agreement with China’s Ministry of Agriculture to compensate for the damage caused by the June 2011 Bohai Bay oil leaks. Under the agreement, RMB1 billion (nearly US$160 million) will be paid as compensation to settle public and private claims of potentially affected fishermen in relevant Bohai Bay communities, according to a January 24 press release issued by ConocoPhillips. Continue reading →


India Foreign Investment Regulations and Limitations (Jan 25)
A look at foreign investment access to the Indian market as relates to several key sectors By Ankit Shrivastava Jan. 25 – India has recently liberalized foreign investment regulations in many of its key sectors, opening up commodity exchanges, credit information services and aircraft maintenance operations. The foreign investment limit in public sector unit refineries has been raised from 26 percent to 49 percent and an additional sweetener is that the mandatory disinvestment clause within five years has been done away with.