Business & Economy Current Affairs 2017

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“White Goods makers miss targets despite good demand” – What are White Goods ?

What are ‘White Goods’ or ‘Whiteware’ ? What are ‘White Sales’?

‘White Goods’ or ‘Whiteware’ basically refer to two groups of household items:

  • Household linens
  • Household appliances

Household linens

  • Household linens like Handkerchief, bed sheet, towel, pillow, etc. These were originally were/are made of white cotton or linen fabric, thus were referred to as White Goods.

Household appliances

  • Household appliances such as the Washing machine, Air conditioner, Microwave oven and Refrigerator, etc. These products were/are often factory-finished in white enamel and thus were referred to as White Goods. Now, they are available in other colors but still they are known as White Goods or Whiteware.

“White Sales”

  • Sales of household linen in a departmental store where inventory of white goods such as sheets, towels, bedspreads, pillowcases and other linens on sale.

What are “Brown Goods”?

  • Brown Goods are Electronic domestic appliances like TV, radio, video recorders, etc. Since they were were traditionally finished in brown due to their wooden or Bakelite make, they were known as Brown Goods.
Difference b/w ‘White Goods’ and ‘Brown Goods’:
  • ‘White Goods’ are relatively high-priced, heavy, and slow-moving electronic goods whereas ‘Brown goods’ are relatively light and low-priced and fast-moving electronic goods.
  • In general, high-end technical skills are required to repair the complex electronics circuits based brown goods, whereas practical application specialized knowledge is needed in servicing the white goods.

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Intel CEO Paul Otellini to retire

Intel CEO Paul Otellini

imageOtellini who has worked with Intel for nearly 40 years and became CEO in 2005. Otellini will retire in May at the age of 62 years.

Intel held that search it is searching for replacement for Otellini both within and outside the organization.

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Sweden’s Volvo to invest in India

Volvo is a Swedish truck, bus and earth-moving equipment maker. Volvo is the world’s 2nd largest truck maker by revenue.

Volvo declared its plans to invest R s 3,800 Crore in India in next few years. Of imagethis amount, it will be investing Rs 1,800 Crore in a joint venture with Eicher Motors. Volvo and Eicher have a 50:50 joint venture VE Commercial Vehicles which sells Volvo brand of trucks and Eicher brand of trucks and buses.

In India, Volvo has a good presence in Bus segment.

Eicher is a commercial vehicle manufacturer in India.

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