Business Confidential: Correction

REAL TALK TAKES PLACE IN GOBBLEDYGOOK

Owners of companies may be seen talking at all fora, but when it comes to real technical talk, it is best left to the technical experts. Chief of the regulator of a sector, which is in news for all bad reasons, gets a taste of it when a lot of company owners come with their technical guys to do the real talking. In one such conversation, the owner talked for ten minutes in a hour-long meeting after which, the accompanying technical man took over.

IT'S A SPOOK EAT SPOOK WORLD

A follow through of the interest among the foreign companies in the Indian market has been that of their embassies, who contact Indian top officials for useful information. But that too is now passé. The embassies instead now take keen interest in ferreting out what information their rivals are obtaining. A key economic ministry official was flummoxed when an European embassy visitor spent the entire span of their conversation to glean what his supposed rival had discussed with the official, instead of talking about why he had sought an appointment.

Correction

On November 19, the item titled 'Axis of Banking Opportunity' said that "Axis Bank is planning to set up a subsidiary abroad. Most probably it will be in London, where it already has a branch since 2010." Axis Bank has said that Axis UK Ltd has been incorporated in London as a subsidiary on March7, 2011, to apply for a licence to start banking business in the UK, and that the report on plans to set up a subsidiary abroad and the mention of an existing branch in London, since 2010 is incorrect. The error is regretted.

ALSO READ

PM: Govt initiating more measures to attract investments

Cautious RBI cuts repo by 25 bps, says little space for more easing

‘Govt mulling stronger laws to block Ponzi schemes’

Unilever plans to spend up to $5.4 bn to ramp up stake in HUL