Infosys Co-Chairman Ravi Venkatesan today said that the company could be 10 times as large as it is today if it could execute well to harness advances in digital and machine learning. "There is a huge opportunity to use advances in digital and machine learning - and all these areas. Infosys should be ten times as large as we are if only we can execute well," he said. The opportunities ahead for the IT industry and Infosys, in particular, are phenomenal,said Venkatesan. "You know what Bill Gates had said? Anybody who says best days are over, he or she is crazy, because the best days are yet to come," he added. "All changes should be positive. I think we are living in a very interesting time. It is not just a difficult time," he added.
Employees are increasingly being called upon to handle varied responsibilities simultaneously. But not everyone is a born multitasker. According to experts, multitasking is not about working harder, but working smarter. Brinda Dasgupta brings you tips on how to juggle different tasks with aplomb.
1. Plan Ahead Don't wait until you are in the middle of the first task to decide what else you want to accomplish. "Have a plan in mind and set goals. Pick tasks that can genuinely be worked on at the same time, because not all tasks are compatible with each other," said Sudeshna Datta, co-founder of Absolutdata Analytics.
2. Don't Lose Focus With multiple things demanding your attention at work, it's easy to lose track of tasks. Deal with the pressure by prioritising. "Have a to-do item list and decide the importance of your tasks at hand. Classify according to urgency or importance - this matrix will give you a better idea of what needs to be done immediately and what can wait," said Madhur Kathuria, CEO of AgiVetta Consulting.
3. Divide Your Time There are certain tasks which you should include among your core responsibilities. "Devote a fixed time of the day - perhaps the first couple of hours of the workday - to finishing these, as they take importance. The important work shouldn't be compromised on," said Kamal Karanth, managing director at Kelly Services & KellyOCG India.
4. Use Available Tools There are lots of tools and apps available to help you accomplish multiple tasks at the same time. "Trello is a simple, easy-to-use productivity tool where you can key in your tasks and then follow up accordingly. It helps you have a tangible reminder of the work you need to complete," said Kathuria.
5. Manage Distractions at Work In the modern workplace, interruptions are aplenty. Avoid distractions like ringing phones and noisy colleagues to get multiple tasks done efficiently. "Take your work into a conference room or other quiet space. Turn off email and text alerts and, if your role allows, only check your messages two or three times a day. Reserve your personal calls and errands for the lunch hour," said Datta.
Amazon founder Jeff Bezos on Thursday became the world’s richest person, as a jump in the share price of the US tech giant enabled him to overtake Microsoft founder Bill Gates, a new estimate showed. Forbes magazine said its real-time tracking of personal fortunes showed Bezos with a net worth of $90.5 billion, ahead of the $90 billion for Gates early on Thursday. A few hours later, though, Bezos had slipped back to second place as Amazon shares pared their gains. Bezos owns around 17 per cent of the equity of Amazon, which has been expanding from its original mission as an online retailer to a diversified tech firm in cloud computing, online video, computer hardware and artificial intelligence. The company also recently announced plans to acquire US grocer Whole Foods, which could help Amazon expand in that sector. Amazon shares were up 1.7 per cent at $1,070.72 and have risen some 24 per cent over the past four months, adding some $17 billion to the net worth of the 53-year-old Bezos. According to Forbes, Gates has been the richest person in the magazine’s annual rankings in March for the past four years and for 18 of the past 22 years. Mexican telecom magnate Carlos Slim overtook Gates from 2010 to 2013. Among the billionaires gaining ground is Facebook founder Mark Zuckerberg, who has an estimated worth of some $71.3 billion according to the real-time Forbes estimate. While most of Bezos’s wealth is in Amazon, he also owns the private space firm Blue Origin and the Washington Post newspaper. Forbes pointed out that Gates could have been considerably wealthier, having given away more than $30 billion to philanthropic causes over the years. Bezos has given an estimated $100 million, but recently asked users on Twitter for ideas for charitable donations which could have an impact on the world. The billionaire notably opposed Donald Trump during the 2016 presidential campaign, but after the election appeared to give the new president a boost by announcing Amazon would add 1,00,000 new US jobs over 18 months. Trump, however, has not spared Bezos's ventures from criticism, apparently renewing claims that he purchased the newspaper to divert attention from regulators away from Amazon. “So many stories about me in the @washingtonpost are Fake News,” Trump tweeted this week. “Is Fake News Washington Post being used as a lobbyist weapon against Congress to keep Politicians from looking into Amazon no-tax monopoly?” Bezos appeared intent on spending more time in the US capital, purchasing what is likely the city’s largest private residence for $23 million. Under Bezos’s ownership, the Washington Post reported it was profitable in 2016, after making a series of investments in new technology and personnel. With Amazon, Bezos is known for taking a long view. The company lost money for many years and still delivers thinner profits than many of its peers, plowing money into new investments.
Prices continue to rule high at around Rs 100 per kg in major cities with supplies being disrupted due to heavy rains. As per the consumer affairs ministry's data, the average price of tomatoes today was Rs 90 per kg across major cities while the maximum price was Rs 100. Price of tomatoes in Delhi is Rs 92 per kg, while in Mumbai it is Rs 80, Rs 57 in Chennai and Rs 95 in Kolkata, the government data showed. While Mother Dairy is selling the kitchen staple at Rs 92 per kg through its 300 retail stores in Delhi-NCR, online grocery platforms like Big Basket and Grofers are offering it at nearly Rs 100 per kg here. Local vendors are selling tomatoes in the Rs 80-100 per kg range depending on the quality. Prices have shot up about four times since the beginning of June when tomatoes were being sold at about Rs 25 per kg in the Delhi-National Capital Region market. Azadpur Tomato Merchants Association President Ashok Kaushik said that supplies have been hit badly in the national capital as the crop in neighbouring states has been damaged due to heavy rains followed by heat. The supplies from Haryana have stopped as the harvesting there has been completed early and the current arrival in the market is from Shimla, Himachal Pradesh, he said. Meanwhile, industry body Assocham said: "Tomato prices may not immediately ease as flooding in some of the growing states has led to damage to the crop." Unlike onion and potato, the shelf life of tomato is very short and it needs cold chains and modern warehouses for storage and transportation, it said in a statement. It also said that rise in tomato prices has "created an additional demand for alternatives like tomato puree/ketchup to the extent of 40-45 per cent in the recent few weeks". Karnataka, Andhra Pradesh, Telangana, Madhya Pradesh, West Bengal and Odisha are the major tomato growing states. The country produces around 18 million tonnes of tomatoes. The Department of Consumer Affairs monitors price for 22 essential commodities based on data collected from 100 market centres spread across India representing North, West, East, South and North-eastern regions of the country.
Minister of State for Finance Santosh Kumar Gangwar has stated that Rs 200 notes will be in circulation soon. The Reserve Bank of India, as reports suggest, has already begun printing the new notes. The Rs 200 note is meant to sort out difficulties in transactions while using the new Rs 2000 notes and due to lack of sufficient Rs 500 and Rs 100 notes Even the largest commercial bank of the nation, State Bank of India , has praised the move to release new Rs 200 notes calling it the 'missing middle'. The note could be released in the month of August, news agency IANS reported while quoting anonymous government sources. "The paper for Rs 200 notes was ready in the Mysuru paper mill in June. It should be in circulation next month," IANS reported. The Mysuru paper mill is jointly run by Bharatiya Reserve Bank Note Mudran, a RBI subsidiary which prints currency notes, and Security Printing and Minting Corp of India Ltd (SMPCIL), which is a public sector unit. Along with this, Gangwar established that there is no news yet stating that the Rs 2000 will be taken out of circulation. The central bank recently stopped printing new Rs 2000 notes, as per reports. "No news that Rs 2,000 will be scrapped," IANS reported Gangwar saying. Gangwar further added, "The reduction in printing of new Rs 2,000 notes is a separate issue. But that needs to be confirmed by the Reserve Bank of India (RBI). RBI will give information on Rs 2,000 notes." Opposition had questioned Finance Minister Arun Jaitley in Parliament earlier this week, asking him to confirm if the government was going to "demonetise Rs 2,000 notes" and whether it would not be printed in future, which Jaitley did not answer. It has been speculated that government has no intention to demonetise Rs 2000 notes. Printing Rs 2000 notes has been discontinued to limit their circulation but they will remain legal tender. This had been the plan even when they were brought into circulation at the time of demonetisation of Rs 500 and Rs 1000 notes back in November last year. The Rs 2000 were meant to expedite the remonetisation process and their circulation was to be restricted after this purpose was fulfilled. According to a SBI Ecowrap report, the economy is nearing complete remonetisation as circulation of new currency notes reached 84 per cent of the devalued ones on July 7. The total value of old high denomination notes of Rs 500 and Rs 1000 was Rs 15.44 lakh crores on November 8, the day Narendra Modi government announced their demonetisation. The gap created by limited circulation of Rs 2000 notes is likely to be filled by smaller denomination currency notes of Rs 200.
The Supreme Court on Friday directed SpiceJet to pay Rs 579 crore in a share transfer dispute case in the wake of change in the airline's ownership in 2015. A bench headed by Justice Rohinton F. Nariman rejected SpiceJet appeal against the July 3 order of the Delhi High Court that directed the company to deposit with its registry Rs 250 crore in cash on or before August 31, and balance Rs 329 crore by way of bank guarantee. The case relates to a dispute arising out of non-issuance of warrants in favour of KAL Airways's Non-Executive Chairperson Kalanithi Maran, after the transfer of firm's ownership to Ajay Singh, the current controlling shareholder of SpiceJet. Maran and KAL Airways had transferred their entire 58.46 per cent stake in SpiceJet, totalling 350.4 million shares, to its co-founder Ajay Singh in February 2015, leading to a change in airline's ownership. Under the share-purchase agreement, KAL Airways and Maran were to receive redeemable warrants in return for the Rs 690 crore they spent on SpiceJet towards operating costs and debt payments.
With annual increments shrinking and costs of living rising every day, tax payers are always engaged in finding ways they can save taxes. Their concern is how to multiply savings for the future even as they invest in high-risk funds which also promise great returns. One such asset class is Equity Linked Saving Schemes (ELSS) that allow you to invest in equities through mutual funds. Not only returns are tax-free after the lock-in period of three years, ELSS also offer you deduction of up to Rs 2 lakh under section 80C of the Income Tax Act. Axis Long-Term Equity Fund The tax planning fund had assets worth Rs 13,544 crore on June 30, 2017. Its expense ratio was 1.97 percent. The fund was launched on December 29, 2009 and has returned 19.35 percent since then. The open-ended fund has 0 percent exit load. The fund has given 25.77 percent return on an year-to-date basis. The fund's returns are benchmarked against BSE 200 which delivered 24.10 percent returns for the same period. For the last six months preceding June 15, 2017, the fund gave 20.92 percent, 19.12 percent, 18.43 percent and 24.54 percent returns in six months, one year, three years and five years, respectively. Principal Tax savings The tax planning fund had assets worth Rs 331 crore on June 30, 2017. Its expense ratio was 2.56 percent. The fund was launched on March 31 1996 and has returned 17.36 percent since then. The open-ended fund has 0 percent exit load. The fund has given 31.23 percent returns on an year-to-date basis. The fund's returns are benchmarked against BSE 200 which delivered 24.10 percent returns for the same period. For the last six months preceding June 15, 2017, the fund gave 26.69 percent, 34.17 percent, 16.51 percent and 23.00 percent returns in six months, one year, three years and five years, respectively. Reliance Tax Saver The tax planning fund had assets worth Rs 8492 crore on June 30, 2017. Its expense ratio was 1.99 percent. The fund was launched on September 21, 2005 and has returned 16.37 percent since then. The open-ended fund has 0 percent exit load. The fund has given 27.59 percent returns on an year-to-date basis. The fund's returns are benchmarked against BSE 100 which delivered 23.71 percent returns for the same period. For the last six months preceding June 15, 2017, the fund gave 19.54 percent, 26.83 percent, 16.80 percent and 22.80 percent returns in six months, one year, three years and five years, respectively. Birla Sun Life Tax Relief 96 The tax planning fund had assets worth Rs 3534 crore on June 30, 2017. Its expense ratio was 1.34 percent. The fund was launched on January 1, 2013 and has returned 26.12 percent since then. The open-ended fund has 0 percent exit load. The fund has given 26.12 percent returns on an year-to-date basis. The fund's returns are benchmarked against BSE 200 which delivered 24.10 percent returns for the same period. For the last six months preceding June 15, 2017, the fund gave 20.50 percent, 22.08 percent, 19.81 percent and 22.71 percent returns in six months, one year, three years and five years, respectively. IDFC Tax Advantage The tax planning fund had assets worth Rs 621 crore on June 30, 2017. Its expense ratio was 2.40 percent. The fund was launched on December 26, 2008 and has returned 21.10 percent since then. The open-ended fund has 0 percent exit load. The fund has given 33.30 percent returns on an year-to-date basis. The fund's returns are benchmarked against BSE 200 which delivered 24.10 percent returns for the same period. For the last six months preceding June 15, 2017, the fund gave 27.93 percent, 28.74 percent, 18.55 percent and 22.55 percent returns in six months, one year, three years and five years, respectively.
Latest launches and upcoming smartphones by Motorola have drawn eyeballs for offering a vast line-up across price ranges and much-desired features. One such smartphone, Moto X4 is making headlines after its price was leaked ahead of the official launch. The fourth generation offering under Motorola's X-series of smartphones, Moto X4 was expected to be unveiled for the world alongside company's flagship device Moto Z2 Force earlier this week, but it wasn't. Now before the launch date for the handset could be confirmed, the price for the European markets has been tipped. This price is closer to that of the previous generation phone from Moto X-series which was launched with a price tag of $399 (around EUR 340 or Rs 27,000) when it was launched in 2015. Quandt also says in his tweets that the price is for a 32GB variant of the phone, which might mean that Motorola is planning to launch other variants of Moto X4, presumably with higher internal storage. Expected features Once the flagship line-up of Motorola, the X-series is now placed between the new high-end Z-series of the company and its popular mid-end G-series. The new Moto X4 is expected to come with premium metallic build and a dual camera set-up. One of the camera modules is expected to feature a 12-megapixel unit and another 8-megapixel set up. According to earlier reports, the device is expected to feature Qualcomm's Snapdragon 630 chipset with 32GB or 64GB internal storage and 4GB RAM. Similar to the Moto G5 Plus, the device is expected to feature a 3000mAH battery. In terms of software, it's almost certain that the device will come with Android Nougat with no modification or minimal changes in the stock Android.
Vodafone is upping its game against the likes of Reliance Jio by launching a new first recharge coupon (FRC) worth Rs 244. This new plan will give the user 1 GB of data per day for a period of 70 days. This offer is priced much lower than what fellow competitors are offering. However, this new plan can only be availed by new Vodafone 4G prepaid customers. After completing the 70 days, the user will only get 35 days of validity with the 244 plan. Apart from this, Vodafone India has also another offer for its prepaid customers. In Rs 346 with a validity of 56 days, the telecom giant is offering 56GB data with a cap of 1GB per day along with unlimited voice calls to any network. However, voice calls will be limited to 300 minutes per day and 1,200 minutes per week. This new move came in the face of growing competition from Reliance Jio. The Mukesh Ambani-led company launched the Jio Dhan Dhana Dhan offer. One of the most popular offers, the Rs 309 gives validity 56 days and allows users to access 1GB of data per day along with free voice calls and free texts. Another telecom major, Bharti Airtel plans to roll out VoLTE service, that enables phone calls using 4G technology, across India by end of the current financial year. So far, only Reliance Jio is the only carrier that provides VoLTE compatibility. However, Reliance Jio is not the fastest network according to a new speed metric by a broadband speed testing firm. Airtel has the highest 4G speed under optimum conditions, followed by Jio. The results were reached based on the average speed metric designed by UK-based OpenSignal, which tested four major telecom service providers offering 4G services in India - Airtel, Jio, Vodafone, and Idea - for their highest 4G speeds between December 1,2016 to February 28, 2017. The speed tests show Airtel 4G connections reaching up to 56.9 Mbps if the internet traffic, tower availability and other factors are favourable. Jio 4G connections reached up to 50 Mbps under similar conditions. Vodafone and Idea posted 4G speeds of 36.5 Mbps and 29.8 Mbps respectively, according to the new peak speed metric.
Entrepreneurs have a unique mindset and are largely creative and visionary individuals. They are also risk takers, which is usually a key characteristic and gives them the drive and inspiration to found and build businesses. However, this trait is not necessarily the best quality or the ideal approach to managing their wealth or enhancing their investment strategy outside of their own business. In particular, entrepreneurs often make detailed plans for building their business but neglect planning their own exit to safeguard the wealth created for their families and future generations. Worse, the entrepreneurial mindset that enabled them to take on the risk in the first place should not be used to manage the portfolios they build. The majority of an entrepreneur’s wealth is typically in her shares or ownership interests in her business. Nearly every wealth management planning system fails to flag that when they provide a 360-degree of the entrepreneur’s personal wealth. Without that knowledge of what the value is of their own business interests, the portfolio recommendations of most wealth advisors may be flawed. For instance, if 60 percent of an entrepreneur’s wealth is tied into the shares of her own business, then the remaining 40 percent should be in more conservative portfolio allocations. Without incorporating the personal wealth from the owner's business interests, that portfolio may have been allocated more aggressively. When launching a business, entrepreneurs are supported by investors, teams and their family who all share in their company’s vision, but these groups are also the most at risk should that vision be clouded or dimmed by an unforeseen event. The people who are most invested in the business will be most at risk if an entrepreneur fails to plan his investments or for life post any exit from the business. Many entrepreneurs also have a significant portion of their wealth and assets tied up in their business and they rely on its sale to fund their retirement. According to a recent survey by the Financial Planning Association/CNBC, some 78 percent of business owners plan to fund at least 80 percent of their retirement by exiting and selling their business. So, it is important both for entrepreneurs' own financial health and to ensure that their families benefit from the wealth created that they establish an effective exit plan to ensure that the wealth generated is protected and passed on. Yet, a recent U.S. Trust survey found that the majority of business owners (63 percent) don’t have a formal exit strategy, including plans to sell or transfer ownership and leadership of their companies. In putting together an effective wealth planning strategy all kinds of issues need to be considered. Probably succession planning is a good starting point. However, the U.S. Trust survey found that nearly two-thirds of business owners do not have a succession plan, meaning "that their main source of income could be in jeopardy." Other issues to address include putting proper corporate governance in place, as well as considering which type of vehicles, trusts, family companies or off-shore arrangements are best suited to ensure that as much wealth as possible is preserved. One key element of this financial planning that many entrepreneurs ignore, is considering taking out a life insurance policy. The sudden death of a founder could place the family in dire financial difficulties and could derail the company itself, resulting in redundancies, even bankruptcy. Yet, Deloitte found that only 59 percent of family-owned businesses have a detailed contingency plan in the case of death or disability. Should an entrepreneur die prematurely, a personal life insurance policy can replace income, allowing the entrepreneur’s family to continue to enjoy the lifestyle to which they have become accustomed. Also, with the right insurance, surviving business partners will have enough capital to keep the business going while looking for a replacement for the deceased partner, or to buy out his heirs. Fundamental to most of the decisions, including choosing the right life insurance, entrepreneurs will make to safeguard their wealth is knowing the value of their business and today platforms and services such as those BizEquity offers make this far easier for business owners to discover. Having such valuable insight into their financial worth helps entrepreneurs take the correct decisions across a range of financial issues, not only insurance but team compensation and bonus levels, reviewing dividend policy as well as considering how much money overall to take out of the company to invest in other assets to protect the wealth generated. After all there is little point in entrepreneurs striving so hard to create their wealth if they don’t take equal care in trying to preserve it for their benefit and that of their families or to have a proper portfolio allocation in the first place. The first step in wealth planning is often to determine the risk appetite and goals of its participants, but for entrepreneurs it should be to first understand what they own and how much it is worth in the first place. Only then can a proper wealth management and succession plan be created.