Uber and Ola will slug it out in the food delivery space. Ola has bought Foodpanda India from previous owner Delivery Hero in an all-stock deal, and will invest $200 million in the business, it said in a blog post. Ola had previously dabbled in food delivery with Ola Cafe, but it shut down the vertical because of stiff competition from Swiggy and Zomato. Ola’s arch-rival Uber has been investing heavily in its food delivery service UberEATS, which it launched in India in May.
Buying an iPhone will burn a bigger hole in your pocket. Apple has raised prices of top iPhone models by an average 3.5% after the Centre hiked the import duty on mobile phones by 5 percentage points to 15%. The iPhone 6 will now cost ₹1,280 more while the flagship iPhone X will set you back by ₹3,720. The price of the iPhone SE — assembled in India — remains unchanged. Apple has appointed old-timer Michel Coulomb to lead India operations after country head Sanjay Kaul resigned amid reports of flagging sales growth.
Indian CEOs earned 88 times the average company employee in 2017, Mint reportsciting a Prime Database study. This is better than the US, where top executives made 271 times the median remuneration in 2016. But the gulf is widening in India, especially at blue-chip companies where CEOs bagged up to 1,200 times the average worker’s pay. For instance, Tech Mahindra CEO CP Gurnani's total compensation was 3,537 times that of an average employee in his company.
In sheer numbers, the Indian diaspora has become the strongest in the world. The UN’s International Migration Report 2017 says 16.59 million Indian-origin people live in foreign countries — a number that has doubled since 2000. More than half of the migrants live in West Asian countries such as the UAE and Saudi Arabia, followed by the US. But fewer foreigners are choosing India: The migrant count in India fell from 6.4 million in 2000 to 5.2 million in 2017.
The uptick in hiring of fresh engineering talent is rubbing off on new IITs. The IITs in Patna, Mandi, Indore and Gandhinagar are attracting more recruiters and commanding higher salaries this year, reports Economic Times. IIT Patna and IIT Mandi have already placed 65% and 70% students, respectively. At ₹39.13 lakh, software giant Adobe made the highest offer across all new IITs, up from ₹27 lakh last year. The early placement season across all IITs has seen 40% more offers than last year. Recently, IIT Madras overtook IIT Bombay to place the highest number of students on Day 5.
Idea of the Day: Want to get stuff done? Stop telling yourself you can’t. That’s one of Radiate CEO and Bloomberg anchor Betty Liu’s three pieces of advice for upping your productivity. Negative self-talk — “I can’t do this!” or “I don’t have time!” — keeps you from accomplishing tasks that could very well be within your grasp.
“I took myself out of the running doing many things and it wasn't because I truly had no time. It's because I was really afraid of failing.”
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— Disha Sharma / Share this using #DailyRundown
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