India's largest IT firm Tata Consultancy Services (TCS) will not announce a cut in variable pay of its employees this year , despite the company reporting a negative net profit on sequential basis.Last quarter, the company had announced a reduction in its staff variable pay as it did not achieve the internal targets.
Shah Rukh Khan's Kolkata Knight Riders have signed on Zapak Digital Entertainment, a Reliance Anil Dhirubhai Ambani Group (ADAG) venture, to develop online games for them. As part of the exclusive one-year tie-up, Zapak will create a cricket gaming zone on the official website of the Knight Riders and is said to make an investment of Rs 1 crore (Rs 10 million) in the deal. The exact value of the deal is not known. The portal has already gone live with two games.
It's a $38-billion company with a touchingly simple ambition. Cisco wants to become a household name. Having sold over 80 million devices to consumers the world over, it no longer wants to be perceived as a boring company that only manufactures networking gear such as routers and switches. The ambition may sound soft but for Cisco, it is serious business.
The fourth quarter (January-March) is usually a weak quarter for the Indian IT companies due to the lesser number of billing days. This time, however, the good news is that the rupee has depreciated by about 1.3 per cent during the quarter. Every increase/decrease of a percentage point in the rupee lowers/adds to the operating (EBIDTA) margins by 30-50 basis points (bps).
Not a single Indian insurance company offers a comprehensive anti-cybercrime policy for the corporate sector. In India there are few takers for cybercrime insurance primarily because of the high cost vis-a-vis their exposure. These policies are of a high value and, on request from a few brokers, are customised for banks. Cybercrime policies in the US cover e-theft, denial or impairment of e-service, e-communication, e-vandalism, e-threat and fraudulent e-signatures.
WNS Global Services, India's second largest business processes outsourcing company, has signed on Sri Lankan fast bowler Lasith Malinga as its brand ambassador. It has thus become the first Indian IT services firm to have a brand ambassador. Accenture, a multinational company, is another one that has ace golf player Tiger Woods as its mascot.
With hundreds of theatre screens coming up across India in 2009, Texas Instruments (TI) - a leading semiconductor technology company - is eyeing the Indian cinema market with its digital light processing (DLP) technology. TI has patented the DLP technology. In DLP projectors, the image is created by small mirrors laid out in a matrix on a semiconductor chip known as a Digital Micromirror Device (DMD).
IBM has deployed over 1,200 Indian employees to countries like Austria, Finland, Denmark, Costa Rica, under the Blue Opportunities programme.
The media and entertainment industry in 2007 grew by an estimated 17 per cent over the previous year to touch Rs 51,300 crore (Rs 513 billion), according to a recent Ficci-PwC 2008 report. However, this is 6 percentage points lower than the 23 per cent growth registered in 2006. All the major segments within the M&E industry, comprising TV, film and print, will see a year-on-year fall in their growth rates going by the report estimates for 2007.
More and more Indian service providers are taking the help of the Internet to reach out to foreign clients in the US and Europe. There are 4,000 Indian service providers on Elance.com - a business-to-business work-on-demand portal that caters to small- and medium-enterprises (SMEs) across the globe. It acts as a site on which people who have work post their projects and service providers bid for them. India is one of the largest growing service providers in terms of payments.
The fourth quarter of financial year ending March 31, 2008, may hold a mixed bag of results for Indian information technology (IT) companies. On the one hand, IT firms - which hedged themselves taking the view that the Indian rupee would continue rising against the US dollar - will have to bear a negative impact on the portfolio that has been hedged so far. On the other, their top line as well as operating margins (EBIDTA) will get a boost since the rupee has depreciated.
The emerging markets strategic business unit of the country's largest IT services provider Tata Consultancy Services aims to touch the revenues of $2 billion by 2011-2012. The SBU targets regions such as Eastern Europe, West Asia, South Africa and Latin America. The company is also planning to have strategic development centres that will cater to these regions, beginning with Egypt & Russia. Emerging Markets offer great opportunity for TCS as IT sector there is growing at 8%.
Indian operators offering BlackBerry services, top executives of Canadian telco Research in Motion (RIM), the company that owns the brand, security agencies and officials of the Department of Telecommunications (DoT) are expected to meet on March 14 to answer the concerns of security agencies in a bid to prevent having BlackBerry services terminated after the March-end deadline.
The next time you buy a shirt or trouser that claims to be stain- and wrinkle-free, thank nanotechnology for it. The Indian government has allocated Rs 1,500 crore (Rs 15 billion) for the development of nanotechnology which involves studying and working with matter on an ultra-small scale. The nanotech market globally is expected to cross $1 trillion by 2010. In India, the maximum research in nanotechnology is taking place in the biotechnology and medicine segments.
The Central Board of Excise and Customs has been empowered to frame a scheme for preparation and filing of service tax returns through service tax return preparers, similar to the tax return preparer scheme for income tax introduced in 2006. The performance of the TRP scheme so far, however, indicates that it is in need of fine tuning - in terms of recruitment, training and remuneration - to become more effective and serve as a benchmark for the STRP scheme.
The Open Document Format (ODF) proponents are alleging that the Microsoft has "cajoled" Indian NGOs to write to the IT ministry and BIS, supporting OOXML as a standard.
Shorter durations and smaller-value transactions, analysts reason, allow businesses to spread operational risk and develop new relationships according to business demands.
From CCTV cameras to mobile jammers and perimeter protection equipment, the Indian electronic security market is worth over Rs 1,000 crore (Rs 10 billion).
Information technology firms appear to have lost their appeal at the Indian Institutes of Technology. Campus recruitment figures by major Indian and foreign IT firms have dipped this year, raising further concerns of an industry slowdown.
Mobile banking will soon reach Indian villagers as state govts tie up with banks, telecom companies to provide this facility to them.
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