Matters of saving and spending
In business with a (t)zing Prudhvi Raju K email@example.com
eeraj Kakkar, James Nuttall, Suhas Misra, and Neeraj Biyani teamed to start Hector Beverages that produces Tzinga a natural energy drink priced at `20 with a contemporary packaging (spout pouch) to compete with products by global beverage companies that are positioned at high price points. Hector beverages has raised `16 crore as part of initial investments by Catamaran Venture Fund, Footprint Ventures and other angel investors. The company is also planning to expand to all major cities in India and aims to reach the top 35 in three years.
THE COMPANY HAS 150 EMPLOYEES AND IS PLANNING TO EXPAND TO ALL MAJOR CITIES IN INDIA AND AIMS TO REACH THE TOP 35 CITIES IN THREE YEARS. Talking about the fizzy drink market, Neeraj Kakkar, CEO, said, the countercultural movement is quite nascent in India. The average consumer is still quite susceptible to high voltage advertising. The makers of fizzy drinks rely heavily on emotional messages delivered by celebrities from Bollywood and cricket rather than on the functional value of the products themselves. There has been a movement of young consumers away from such products to more meaningful beverages but in India we have not seen that yet. However, such a movement happening in India is only a matter of time-
with increasing global exposure and education. “Our strategy is to put the best possible product out there consistently and sooner where consumers will see the value. We also have a direct connect with consumers which enabled our Facebook page with 3,65,000+ followers and have a conversation with our consumers on all the time. A simple test would be to write to Tzinga (on Facebook) and to any of the other major beverage brands — our answer will be invariably faster, and more importantly, will be more honest,” he said. The 150-employee company is growing its volumes by more than 10 per cent month on month. It is also starting up a second manufacturing plant in Hosur, Tamil Nadu. The first plant was set up in Manesar industrial area in Gurgaon last year. The company is differentiating from its competitors with its natural ingredients and is also mainly targeting 18-25 age groups.
Few Eves in Asia’s top jobs Barclays chairman to SEOUL: Companies in Asia’s leading economies have “strikingly” few women in senior jobs, missing out on a vital pool of talent to fuel the region’s growth, consultancy firm McKinsey & Company said Sunday. In a survey covering 744 firms of 10 major stock markets in the Asia-Pacific, McKinsey said women on average account for only six percent of board seats compared to 17 per cent in Europe and 15 per cent in the US. Women hold eight per cent of executive committee seats in the Asian firms, still lower than the average of 10 per cent in Europe and 14 per cent in the United States, it said, calling the numbers in Asia “strikingly low”. “It’s a huge waste of talent, as half of Asian graduates are female. And it is a waste that
Asian companies can ill afford, given the severe shortage of senior managers in the region,” said the report titled “Women Matter”. Australia, Hong Kong and China topped the list of female presence in the boardroom, with women accounting for 13, nine and eight per cent respectively in these top jobs, while South Korea, Japan and India were at the bottom. Japan came next from bottom with only two percent of such jobs held by women due to similar pressures on them to be a sole caregiver of the family, it said, adding about 60 percent of Japanese women quit or change jobs after marriage. The number hovers slightly higher at five percent in India. AFP
China’s growth to pick up BEIJING: China’s economy will grow at a faster pace in the second half of 2012 on rising investment, exports and expanding housing market, experts said.” We are confident that China will see a U-shaped economic recovery in 2012,” the Centre for China in the World Economy
(CCWE) said in a report on the economy. The centre has forecast a GDP growth of 8 per cent in the first half and 8.4 per cent for the whole year, Xinhua reported. Li Daokui, head of CCWE, said the economy is “showing healthy signs of stabilisation”. IANS
quit over rate fine
LONDON: The chairman of Barclays Bank will on Monday step down after the group was fined for attempting to manipulate the inter-bank lending rate, British media reported. Marcus Agius will announce that he is to leave his post in the face of public and political fury over the bank’s efforts to distort the rate at which banks lend to each other, according to the BBC. “Today Mr Agius has told his colleagues on the Barclays board that he will be going,” BBC business editor Robert Peston said. “It’s not wholly unexpected,” he added. “Mr Agius was first in the firing line as far as shareholders were concerned, they’ve been thinking for some time that Barclays might need a new chairman, he’s been in the job for six years next year.” The resignation statement, which was due to be announced at 7am (0600 GMT), will concede the bank displayed an “unacceptable standard of behaviour” that dealt a “devastating blow” to its reputation, according to the report. Agius is expected to announce that “the buck stops with me,” the Financial Times reported. Mike Rake, chairman of BT, is
Four RBS traders sacked for fixing bank rate LONDON: Four traders from the Royal Bank of Scotland were sacked at the end of 2011 for their role in fixing inter-bank interest rates, sources said Sunday. The revelation comes after the staterescued RBS confirmed it was being investigated for manipulating the rates at which banks lend to each other. favourite to replace the outgoing chairman, Sky News reported. The broadcaster also claimed that the Barclays board was set to commission an independent inquiry into events. Business Secretary Vince Cable earlier backed calls for a criminal investigation into bankers involved in the scandal, which cost the bank £290 million in fines. Traders at the bank are suspected of manipulating the Libor rates, which play a major role in international financial markets and affect businesses and consumers, in order to skew the markets in their favour. AFP
POUND MONDAY, JULY 2, 2012 9 NUMEROLOGY
$4.6bn is what German industrial gas giant Linde would spend to acquire US domestic respiratory care company Lincare Holdings Inc.
THUS SPAKE “I do not believe that the monetary committee will be able to maintain its policy of interest at the present level if fiscal policy does not follow a sustainable path.” Stanley Fischer, governor, Bank of Israel
SBI RATES The State Bank of India (SBI) has increased retail term deposit interest rates from 8.75 per cent to 9 per cent for deposits below `15 lakh for 3 years to less than 5 years with effect from July 1, 2012.
FRENCH ECONOMY France will post a smaller growth in 2012 and 2013 than earlier expected, Finance minister Pierre Moscovici said in an interview published Sunday. Growth in 2012 is now expected to reach just 0.4 percent or less this year rather than 0.5 percent, while in 2013, “an expansion within 1 to 1.3 percent ... appears more credible” than the earlier forecast of 1.7 percent, he said.
BAD NEWS Fiat will close five European plants of its truck subsidiary Iveco before year end to concentrate production at one German site, the firm’s director said on Sunday. According to Alfredo Altavilla, plants in France’s Chambery, Austria’s Graz and Germany’s Weisweill, Goerlitz and Ulm will close.
SETTLEMENT Apple has paid $60 million to a Chinese firm to settle a long-running dispute over the iPad trademark in China, state media reported.