Axis Bank MD & CEO Shikha Sharma retires

Axis Bank on Monday said its managing director and CEO Shikha Sharma has retired, effective December 31, 2018. “We wish to inform you that Shikha Sharma, MD and CEO of Axis Bank, has retired from the services of the bank and has accordingly ceased to be the MD and CEO of the bank, with effect from close of business hours on 31st December 2018,” it said in a regulatory filing.

Fortis appoints Shirish Apte as vice-chairman

Fortis Healthcare on Monday said it has appointed Shirish Moreshwar Apte as vice-chairman of the company. It has also extended the last date for the acquisition of portfolio of assets of the Singapore-listed entity RHT Health Trust to March 26, 2019.

Bollywood flavour to boost tourism in Huntsville

Tourism officials in Alabama are working hard for the opening of six places in Huntsville state, which were filmed in the Bollywood flick ‘Zero,’ with expectations that fans of Shah Rukh Khan, Salman Khan and Katrina Kaif would surely visit the places.

“The state is preparing for a rush of fans,” said Alabama tourism department deputy director Grey Brennan. “By visiting the actual locations where scenes from the movie were filmed, these fans will get a ‘Zero’ movie experience they will always remember,” emphasised Brennan.

NIA to get chair professor soon

After the successful selection of its chief earlier this month, National Insurance Academy (NIA) — the only insurance institute in the country located in Pune — will soon get its chair professor (general insurance). NIA has already floated nominations for the position and it is expected that the institute will pick the candidate from among the public sector general insurance firms.

Indian-American is new president of FedEx

Indian-American Rajesh Subramaniam (in pic) has been named as the president and chief executive officer of US multinational courier delivery giant FedEx Express.

Subramaniam, currently the executive vice-president, chief marketing and communications officer of FedEx Corporation, will assume his new role on January 1, 2019.

He replaces David L Cunningham at the Tennessee-headquartered company.

Subramaniam, an IIT-Bombay graduate from Thiruvananthapuram, has been with FedEx for more than 27 years. He has held various executive-level positions in the company.

Govt has prepared revival plan for Air India: Sinha

The government has prepared a revival plan for Air India that provides for a comprehensive financial package, differentiated strategies for each of the airline's core businesses and robust organisational reforms, Union minister Jayant Sinha said on Thursday.

Various initiatives to turnaround the national carrier, which is staying afloat on a bailout package extended by the previous government, including monetisation of real estate assets are progressing.

Foxconn to produce top-end Apple iPhones in India in 2019

Apple Inc will begin assembling its top-end iPhones in India through the local unit of Foxconn as early as 2019, the first time the Taiwanese contract manufacturer will have made the product in the country, according to a source familiar with the matter. Importantly, Foxconn will be assembling the most expensive models, such as devices in the flagship iPhone X family, the source said, potentially taking Apple’s business in India to a new level.

The work will take place at Foxconn’s plant in Sriperumbudur town in the southern state of Tamil Nadu, said the source.

Govt asks airports to make announcements in local language too

The government on Wednesday directed all airports to make public announcements in local language first, followed by Hindi and English, officials said. The latest move follows a directive from civil aviation minister Suresh Prabhu.

Officials said that the airports authority of India (AAI) has issued a directive to all aerodromes under its control to start making public announcements in the local language in addition to Hindi and English.

IT & startups likely to hire 5 lakh professionals in 2019

India's information technology (IT) services sector and startups together are expected to hire up to five lakh people in 2019 as demand for freshers is on the upswing, an industry veteran said on Wednesday.

Former chief financial officer of IT major Infosys, TV Mohandas Pai said entry-level packages in the industry went up by as much as 20 per cent in 2018, after stagnation in salaries for the past seven years.

"Growth is coming back to the Indian IT services industry," he told PTI, talking about industry highlights in 2018 and prospects in the coming calendar year.