Indians not saving more, says MCI survey
Sixty per cent of Indians are not saving more money because of the economic downturn, says MasterCard International's latest Asian Ideals Survey. While an average Indian is content with about $100,00 -$300,000 to retire comfortably, the majority expect their families to take care of them financially after retirement. The favoured average retirement age among Indians is 50-60 years, while 24 per cent of respondents do not plan to retire at all.These are some of the findings of the latest semi-annual Asian Ideals Survey which studied how Asians plan for and view their retirement. Consumers from 13 Asia/Pacific markets were surveyed: Australia, China, HongKong, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Philippines, Singapore, Taiwan and Thailand. A total of 5,386 consumers, or an average of 400 respondents per market were interviewed.
Flying Start by Welcomgroup
The first lucky draw of Welcomgroup's `Flying Start' promotion was heldthis month. Mr Jag B Malhotra, CEO, Lockheed Martin International, picked out the lucky winners from among 2000 coupons. The special promotional package, in which Welcomgroup has tied up with Indian Airlines and Honda, has been on since March 1 and will continue till August 31. IA fliers who check into Welcomgroup hotels, are eligible to participate in the scheme. There will be monthly draws with 5 prizes: return tickets to a foreign destination (2 prizes) and gift vouchers worth Rs 10,000 each (3 prizes). Marking the finale will be a lucky draw of all the coupons collected during the 6 months of the scheme, with the winner getting a Honda City.
Amex ties up with Oberoi Hotels
American Express, the world's largest travel-related services company, has announced a tie-up with Oberoi Hotels and Resorts for a unique money-saver benefit-The Corporate Advantage-on the American Express corporate card. Under the promotion, for every Rs 75,000 spent collectively by executives of a corporation atparticipating Oberoi Hotels on their American Express corporate cards, the corporation will receive one night's free stay in a standard double room at the participating Oberoi properties.
The corporate advantage is valid for all expenses incurred between April and September 1999 and the free room stays can be redeemed any time between July and December 1999. The benefit of the free room stay is over and above the corporate rate benefits that companies may already be enjoying with Oberoi Hotels and Resorts.
Wonder drug for diabetes patients
Cybele Herbal Laboratories, Cochin, has launched Cogent db, a `wonder' drug for patients suffering from diabetes. The company claims that the regular use of these herbal tablets will make the daily dose of insulin a thing of the past.
Research has been conducted at the Amala Research Centre, Thrissur and the tablets are under clinical trials at Mayo Clinic, USA. Priced at Rs 125 for 50 tablets, Cogent db is available at all leading medical shops throughoutthe country.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.