Saturday, March 12, 2011
A survey by HR consultancy firm Aon Hewitt has projected a 12.9% average hike in pay packets for India in 2011. In the year 2010, the increase was at 11.7%. The double-digit salary increases in India would continue for the next couple of years and is expected to be 12-15% across industries, the survey showed. India is followed by China and the Philippines, which have salary rise projections of 9% and 7%, respectively.
Oh, what an eventful week! It started from the domestic political drama between the DMK and the Congress, and finished with a devastating earthquake-cum-Tsunami in Japan. In between the markets had plenty to worry about, like the escalation of violence in Libya, high oil prices, downgrade of Greece and Spain, a surprise trade deficit in China and tepid US economic data.
Tokyo was on Friday rocked by a strong earthquake, triggering a massive tsunami as high as 10 metres swamping the northeast coastal region. Japan's weather agency said that the earthquake measured 7.9 on the Richter scale and was centered in northeastern Japan. The tremor's scale was later upgraded to 8.8, and further to 8.9. That made the quake the fifth biggest in the world since 1900, according to the United States Geological Survey (USGS).