Shares of Indian software majors have plunged into red on news that BP would cut its spend on information technology.
Research firm Gartner today reported that worldwide IT spending will touch $3.350 trillion--an increase of 3.9 per cent from 2009. However, it simultaneously lowered its outlook for the IT industry from the first quarter of this calendar year, when it had forecast worldwide IT spending to grow 5.3 per cent. This is primarily due to the devaluation of the euro versus US dollar since the beginning of the year.
Whitehurst talks about India expansion plans, its latest offering in cloud computing and India's most ambitious project Aadhaar.
Prospective buyers might grumble about skyrocketing gold prices, but the recent run-up in bullion has one group of unexpected beneficiaries - companies who lend against gold.
With the economy giving positive signals, hiring is back. However, so is attrition, with disgruntled employees demanding more or moving to greener pastures to make up for lost time and money.
Low delinquency rates, huge demand attract investors to the unique gold financing sector.
Domestic information technology services majors Tata Consultancy Services, Wipro Technologies and Tech Mahindra and global players like IBM and Japan-based NEC are among the 10 shortlisted companies for the Nandan Nilekani-headed Unique Identification Authority of India biometrics job.
Sites like Facebook and Orkut may be great for connecting with others, but they also provide a sure-fire way for broadcasting intimate details about you.
Peter Gartenberg, SAP India Managing Director tells about the changes taking place at SAP globally
In what is the largest ATM outsourcing deal in the country, Axis Bank has entered into an agreement with two third-party service providers to increase its ATM count to more than 9,000 within the next 18 months.
People tend to think that online means access to information on the fly. But that does not mean that any individual can access the data, says Sunil Chandiramani.
Aluminum major Vedanta's $1.34-billion acquisition of the zinc assets of Anglo American, which will be funded through Hindustan Zinc, is the latest manifestation of the restored growth appetite of Indian companies.
Most economists say the impact on inflation could be substantial, considering that steel prices rose by over 9 per cent in the past year.
Japan's leading information technology services and solutions provider, NTT Data Corporation, has emerged as the most aggressive suitor for Indian software services firm Patni Computer Systems. NTT is in advanced talks with the promoters of Patni Computer to buy their combined 46.5 per cent stake, investment banking sources said.
MindTree, the Bangalore-based information technology services provider, has bagged the application development services segment of the Nandan Nilekani-headed Unique Identification (UID) project, renamed as 'Aadhaar'. This is the first of the many IT projects that has come up for bidding till date.
There are a number of factors that helped India remain relatively unscathed. Some of them are to do with RBI and some of them are to do with the Indian economy.
India's second-largest software services company, Infosys Technologies, for instance, plans to hire close to 30,000 this financial year.
For bank borrowers, it might soon pay to be well-behaved. Banks are considering the introduction of a behaviour-based dynamic lending system once the base rate mechanism is in place from July.
Infosys, India's second-largest information technology services provider, believes winning two to five 'transformational' deals in the range of $30-80 million for the company every quarter could become a norm.
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