A day after Standard & Poor's (S&P) came out with its report on how India could be the first among Brazil, Russia, India and China (BRIC nations) to lose its investment-grade rating, markets shrugged off the concern, ending in the green.
By mid-2012, vernacular domain names in all 22 Indian languages may secure the approval of the Internet Corporation for Assigned Names and Numbers (ICANN).
Karnataka, the leading exporter of software and IT services in the country, has continued to attract global majors to invest in the IT sector this fiscal.
Teaser loans may be on their way out with Canara Bank and Union Bank of India opting to withdraw the scheme in anticipation of a high interest rates.
Bangalore has emerged as a clear preference for sectors like office and retail, while coming a close third in the residential and hospitality according to Cushman & Wakefield, a retail estate research firm.
Following a "raw" deal by the Union Ministry of Human Resource Development (MHRD), which issued a notification on September 16 that deprived them of an immediate pay rise and ignored other demands for enhanced allowances, faculty of the Indian Institutes of Technology (IITs) have decided to express its dissatisfication with the Centre in a novel way.
The long-delayed Hawk trainers, which began arriving in India in 2007, have improved advanced training for IAF flyers. But the crucial introduction to flying, conducted in antiquated HPT-32 Deepak and HJT-16 Kiran aircraft, is taking a growing toll on pilots' lives.
CISF has been permitted to also protect private sector companies after the government made an amendment in the CISF Act in January this year, in the aftermath of the 26/11 attack on Mumbai. T V Mohandas Pai, member of the Infosys Board and Head of HR and Administration, said, "CISF will provide us added protection; they will provide an overlay cover."
Lamingo Systems, a Bangalore based technology start-up firm promoted by two entrepreneurs - Navin Kumar and his wife Monika Rungta - has launched eLagaan.com in this current tax filing season, a portal which promises to prepare the tax returns easy to be filed both electronically and in paper mode.
The Mangalore Special Economic Zone Limited (MSEZL) is facing stiff opposition from the landholders who are resisting acquisition of their lands.
The Web is becoming an increasingly important resource to many aspects of life like education, employment, government, commerce, health care and recreation. It is used for receiving and providing information and interacting with society. Hence, it is essential that it be accessible in order to provide equal access and equal opportunity to people with disabilities. An accessible Web also benefits others, including people with changing abilities due to aging.
Infosys has officially announced offering its clients new engagement models including outcome based pricing and transaction based pricing. According to a senior company executive, the clients accepting these models as they ask for 'no immediate pay-out of cash' and 'pay money per transaction basis.' These models can also be helpful for the clients to deal with the demand fluctuations and effectively manage their budgets.
It is not clear which groups of the Indian operations have been affected by the cuts which are learnt to have been carried out across diverse functions. However, a company source said that a sizeable number of Microsoft's sales and support personnel in Hyderabad and a few in Bangalore were among those affected. The Response Windows team has also been dismantled completely, the source claimed.
India's third largest software company Wipro on Thursday said they are hopeful of some signs of recovery in the second half for the IT outsourcing services sector.
"Till the second quarter of last fiscal, the industry was on track to achieve the $50 billion export target by 2008-09. The aspiration to reach $60 billion by fiscal 2010 is at risk since an unprecedented slowdown is expected in key markets overseas, especially the US and Europe, which account for about 80 percent of Indian software exports," Nasscom president Som Mittal said. Nasscom has now extended the target year for achieving $60 billion export revenue to 2011.
Most large American companies earn more than 50 per cent of their revenue from markets outside the US and will be affected by the proposed tax reforms. Business groups in the US had assailed the proposal, arguing it would subject them to far higher taxes than their foreign competitors must pay and ultimately endanger US jobs. Global companies that earn profits in India are subject to a tax rate of 33.9 per cent and the impact of the proposed reforms on them would be marginal.
For housing loans up to Rs 30 lakh, the floating interest rates for various tenures range from 8.75 per cent to 10.25 per cent. For Rs 30 lakh to Rs 50 lakh, the floating interest rates range from 9.50 per cent to 10.75 per cent and for Rs 50 lakh and above, the floating rates range from 10 per cent to 11 per cent. The revised fixed interest rates are 11 per cent and 11.50 per cent depending upon the loan amount.
Year 2008 results of India's largest drug maker, Ranbaxy Laboratories, and Wockhardt were also impacted by forex losses. Companies such as Aurobindo and Orchid are also expected to post forex losses, say analysts.
Bangalore and Hyderabad have seen the highest attrition rates in the country. During the past year, Bangalore, Hyderabad and Chennai had higher attrition rates than other cities. In Bangalore, ITeS lead in employment growth and it was followed by the health sector. On the other hand, financial services sector saw a negative growth in the city.
The jury is still out on whether Tech Mahindra should retain the Satyam name. Srinivasan Swamy, CMD, R K Swamy BBDO, says. "Brand Satyam took a beating for only one reason -- accounting irregularities by its erstwhile chairman. The employees were not even aware of the fraud. The company's core values and foundation have not been impacted." The task for the new management, he believes, is to retain its clients and people and the brand image would get resurrected.
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