Joy Alukkas to open world's biggest jewellery shop in Chennai

The world’s favorite jeweller opens the world’s biggest jewellery showroom in Chennai, India. With over 70,000 sq. ft of premium jewellery shopping in the heart of Chennai, Joyalukkas jewellery offers consumers more than a million exquisite jewellery designs from master jewellers in India, Bahrain, Turkey, Singapore and Italy.

joy alukkas

With the opening of the first showroom in the Gulf in 1987, the Group has achieved enormous growth, with over fifty stores in the GCC alone, plus London and New York. By 2009, the Group aims to open over 100 showrooms in India and the GCC. The world’s largest showroom in Chennai is an evidence of the growth of the Joyalukkas Group, and has been made possible by the vision of Mr. Joy Alukkas, Chairman, Joyalukkas Group.

diamond joy

Joyalukkas is a household name among the expatriate population in the GCC, including those from India, Pakistan, Sri Lanka, Bangladesh, Philippines and other Asian countries, apart from a large number of international shoppers, the legendary quality of Joyalukkas products have helped the Group to expand into a number of industries that have been enthusiastically received by its loyal customers. The Group now has operations in areas of fashion, information technology, media, money exchange and gold trading.

gold joy

With an entire floor of the store dedicated to diamond and platinum jewellery customers will be able to chose from a plethora of diamond and platinum jewellery designs in the form of necklaces, rings, ear rings ,bracelets and more. Joyalukkas only offers 100% IGI certified flawless Belgian cut diamonds, and a 100% PGI certified, Platinum jewellery, which ensures that only the highest quality of materials are used to create masterpieces which is a term synonymous with the Joyalukkas brand. All the gold jewellery available within the store is a 100% BIS certified and customers who purchase any gold and diamond jewellery are assured a 100% lifetime money back guarantee.

Full article here

Joy Alukkas website

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KV Kamath is Businessman of the year – 2007

kv kamath

ICICI Bank chief executive officer K.V. Kamath has been named Businessman of the Year for 2007 by Forbes Asia, for his steadiness at steering ICICI into one of Asia’s top banks. Under Mr Kamath’s watch since 1996, ICICI Bank’s market capitalisation has risen to $31 billion, placing it among the region’s top 10 banks.“By this measure, it is bigger than Singapore’s DBS Group and Korea’s Kookmin Bank, and has attracted big stakeholders such as Singapore’s Temasek Holdings and CLSA and Merrill Lynch funds,” a press release issued by Forbes said.

Sixty-year-old Kamath’s win puts him in the company of fellow countrymen Nandan Nilekani of Infosys Technologies, last year’s winner, and Ratan Tata, the 2004 businessman of the year. His addition means three Indian executives have won the accolade in the last four years.

Forbes Asia editor Tim Ferguson said: “Kamath’s leadership has been outstanding. His focus on serving India’s growing middle class by providing First World banking service at affordable prices is largely the reason behind the phenomenal growth of ICICI Bank.”

The bank’s assets have grown 40 per cent annually in the last three years to $93 billion, propelled by a boom in Indian consumer credit where ICICI Bank has a dominant one-third market share. Last year, the bank earned $790 million on net revenues of $3.2 billion. By the end of this fiscal year, net revenues will swell to $4.3 billion.

News source: Yahoo

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India business updates

TCS wins $1.2 billion AC Nielsen deal

In the largest outsourcing deal involving an Indian tech services firm, Tata Consultancy Services Ltd or TCS, Asia’s largest software company, has been contracted for 10 years by information and audience measurement major AC Nielsen Co. to manage its networks, finance and human resource functions.

TCS will receive at least $1.2 billion or Rs4,740 crore, which is unevenly spread over the contract period, with a potential upsidedepending on performance. “This deal commits us to a certain amount of spending of $1.2 billion; in some areas, services are on fixed-price
basis, in others, there are incentives,” said Mitchell Habib, executive vice-president, global business, Nielsen, in a phone interview.

Rest of the article here.

Reliance Q2 rises 28% on refining gains

Reliance Industries Ltd (RIL) posted a 28% increase in its second quarter profit (compared with a year ago) on the back of higher earnings from oil refining and chemicals. The Rs3,837 crore net profit bettered the Rs3,300 crore market expectations of seven analysts polled by Bloomberg. Revenues rose 6% to Rs33,402 crore.

In a statement issued on Thursday, RIL said it earned $13.6 (Rs537.20) from processing each barrel of oil into fuels, compared with $9.1 a year ago. Profit from the refining and marketing business rose 56%, from Rs1,486 crore in the second quarter of last year to Rs2,321 crore in the quarter ended 30 September 2007.

Rest of the article here.

Macquarie to buy 50% of Religare wealth management arm

Australia’s biggest securities firm, Macquarie Bank Ltd, will buy 50% of an Indian wealth management firm founded by Religare Enterprises Ltd for an undisclosed sum. The business, Religare Wealth Management Services Ltd, will be renamed Religare Macquarie Wealth Ltd.

The number of Indians with at least $1 million (Rs3.95 crore) in net financial assets grew 21% in 2006, the second fastest in Asia Pacific, according to a Merrill Lynch & Co. and Capgemini report released on Wednesday. Rising incomes and the country’s rallying equity and real estate markets have helped create wealth. India’s high net worth individuals hold a total $350 billion in financial assets, it said.

Rest of the article here.

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Spyker F1 to become Force India Formula One

spyker car

Vijay Mallya is a shrewd businessman. He had the chance to name the team as Kingfisher. Afterall, its his flagship brand. Maybe he wanted to tug at the Indian’s heart. Another good news is that he has hinted that he might not go entirely native by having Narain Karthikeyan at the wheel. He’s in talks with Ralf Schumacher, who happens to be a good friend of Mallya and had visited India at his behest some months ago. So, it could be Ralf and the current driver Adrian Sutil (Germany) in the driver seat for 2008.

vijay mallya

“The critical issue is: ‘India on the F1 grid,’ ” Mallya said in an interview at Monza, Italy, days after the deal was announced in September. “You will get 200 million fans overnight. It’s humongous by world standards. It’s good for Formula One, it’s good for the sport, it’s good for the country.”

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Mallya has got 2 full years to go to fine tune before the F1 reaches India in 2010 and am sure it would be pure mayhem then. Knowing Mallya, he had once said on national television “When i set my mind on something, i do it”. And i love the conviction of that man.

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