IT’S A COSTLY AFFAIR!!

Medicine prices to get dearer

Consumers may have to shell out more for essential medicines soon, as the National Pharmaceutical Pricing Authority is seeking medicine cost details from individual firms, based on which current rates could be revised. It seems that the cost of treatment is all set to get dearer. The Aam Aadmi appears to be under pressure.

CCI slaps Rs 1 crore fine on Google

Competition Commission of India imposed a `1 crore penalty on Google for not providing information related to a probe into the firm’s alleged unfair trade practices in India. It also directed the company to co-operate in the probe. So searching gets costlier!

OF NEW APPOINTMENTS AND EXITS...

Uninor gets new CFO

Uninor announced that it has appointed Vivek Anand as its new chief finance officer. The current CFO of the company Prasoon Sinha will move to the Group Finance function at Telenor Group headquartered in Oslo and take up the position of vice president.

 Jet Airways’ acting CEO quits!

Jet Airways’ acting CEO Ravishankar Gopalakrishnan has resigned from the post, spending less than three months in the job. He was made CEO in mid-January when Gary Kenneth Toomey quit from the position. The airline had then said that, Gopalakrishnan will remain CEO till a new chief is appointed. Apart from the unending shuffle at the top, Gopalakrishnan’s quitting is at least the fifth high level resignation Jet has witnessed after it sealed its deal with Etihad. Top level people like Toomey, chief commercial officer Sudheer Raghavan and vice-president (commercial strategy and investor relations) K G Vishwanath have quit in past one year. Gopalakrishnan, a CA, had joined Jet as chief financial officer in October 2012. The last fiscal of FY13 was the one which had seen many top level executives flying off from its present base.

Telecom panel nod to  slab-based penalties

The Telecom commission approved a proposal to rationalise the penalty structure. Currently, there is a uniform fine of Rs 50 crore for any violation in the licence agreement. Based on the views of a department of telecommunications panel, the commission would have a slab-based structure starting from Rs1 lakh and going till Rs 50 crore. The panel had suggested  examining violations on nine parameters. Warnings could lead to a penalty of Rs1 lakh, minor violations Rs1 crore, moderate Rs 5, major Rs 20 and severe Rs 50.