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SRK's black belt
You’ve heard of honorary doctorates, but honorary black belts? Bollywood czar Shahrukh Khan who has been appointed the Honorary Ambassador of Korea (Culture & Tourism) has been conferred the title ‘Honorary Black Belt (5 Dan) of Taekwondo’. The ceremony, a press release from the Korean National Tourism Organisation says, was held at the Taj Lands End Hotel in Mumbai. And in case you think SRK has just got the black belt for nothing, Korea’s honorary ambassador said, according to the press release, that he had ‘developed a keener interest in sports such as Taekwondo now because of his children — son Aryan, who has won 10 gold medals in sports and daughter Suhana who’s won 3 gold medals in sports activities at the school level’. SRK also said that given the rising interest in sports in India, this was the right time to associate with Korea which is known for its strong base in sports. Bollywood’s macho man Akshay Kumar is probably trembling in the face of SRK’s new black belt. http://smallpersonalloans.org.uk

Cost cutting actions hurting employee morale, commitment
The cost cutting measures taken by companies to tackle economic crisis, have sharply eroded morale and commitment of their employees, especially of the top performers, a study by Watson Wyatt says.

News of the day

DoT wants telcos to share info with auditors on time
The government has written to telecom operators, Bharti Airtel, Idea Cellular, Vodafone and Tata Teleservices, asking them to be punctual in sharing information with special auditors looking into revenue leakage.
Small Business

Glenmark Pharma to repay Rs 300 cr debt by fiscal end

Pharma major Glenmark Pharmaceuticals is planning to repay its debt of around Rs 300 crore by end of this fiscal, a top company official said. - Dubai World mulls 4 options for repaying debt - Emaar MGF says no impact of Dubai crisis - Medicis takes Lupin to US court on patent charge - Glenmark, Medicis sign two agreements - Glenmark settles patent dispute with Medicis - Glenmark Generics gets US FDA nod for Ciclopirox Olamine "We will repay our debt of around Rs 300 crore during the third or fourth quarter of this financial year," Glenmark"s Chief Executive Officer and Managing Director Glenn Saldanha told reporters on the sidelines of a pharma summit here today. The company"s present debt is around Rs 1,650 crore, he said. Its generic arm--Glenmark Generics, plans to raise around Rs 575 crore through an IPO by end of this fiscal, he said. "We are looking at Rs 575 crore through an IPO by our generics arm," Saldhana said, adding that the company has already filed its draft red hearing prospectus. The proceeds of the IPO will go towards repayment of our debts," he added. Glenmark Generics has recently received ANDA (Abbreviated New Drug Application) approval from the US Food and Drug Administration for Ciclopirox Olamini cream used in the treatment of dermatological infection, he said. "The company will start marketing and distribution of the product in the US," he said.


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