Taiwanese electronics manufacturing giant Foxconn sees potential of investing several billions of dollars in India if it gets to completely implement its plan, a top official of the company said. Hon Hai Technology Group (Foxconn) chairman and CEO Young Liu during the company's second quarter earnings call on Friday said that the company's Indian arm has achieved the turnover of close to $10 billion on an annual basis and there is a lot of investment potential in India. "Foxconn annual revenue was $200 billion.
The International Olympic Committee (IOC) too, is going big on popularising e-Sport with Singapore being confirmed to host the inaugural Olympic Esports Week in June next year.
India's information technology (IT) sector will witness subdued hiring in 2023-24 as macro uncertainties impact demand environment, with clients either taking a pause on spend or stopping discretionary spend, say human resource experts. To begin with, unlike earlier years, the three large IT players TCS, HCLTech, and Wipro have not provided any new hiring targets for the financial year. And Wipro has said that its hiring target will depend on the demand environment.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
The digital platforms are responsible and accountable for ensuring the safety of 'digital nagriks', the minister said, adding that the government will respond to every instance of alleged misuse or alleged breach of users' privacy.
In a major relief to Indian information technology (IT) companies operating in Australia, Canberra has agreed to amend its domestic laws to stop taxing offshore income of such Indian companies, as part of the free trade deal inked. This may lead to savings up to $200 million each year for over 100 Indian IT companies operating in Australia. "The Government of Australia has agreed to amend the domestic taxation law to stop the taxation of offshore income of Indian firms providing technical services to Australia. "This will resolve the issue that the Indian government has raised about the double taxation avoidance agreement (DTAA) between the two governments for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income," said a commerce ministry official.
Being leaders in compensation and benefits, collective bargaining for wages is a non-issue in the industry.
The so-called 'fourth industrial revolution' will bring ever faster cycles of innovation, posing huge challenges to companies, workers, governments and societies alike
'You may opt for a longer minimum guaranteed tenure of 12-18 months. This will ensure that in a rising rental scenario, the landlord doesn't serve you a notice and ask you to vacate the property.'
The proposed new norms include deployment of technology-based automated tools or appropriate mechanisms for proactively identifying and removing or disabling public access to unlawful information or content, minister of state for electronics and IT Sanjay Dhotre said in a written reply to the Rajya Sabha on Thursday.
His value lifestyle brand Zudio signals a coming of age of retail in small town India.
The Nifty IT has been one of the worst-performing indices on the bourses this calendar year. Rising concerns of a potential global recession, which investors fear can dampen demand for export-facing domestic information technology (IT) giants, have sent the index down over 30 per cent on a year-to-date basis. By comparison, the Nifty50 Index has shed 2.8 per cent during the period, reveals data by ACE Equity.
Infosys has shot off a missive to its employees, asserting that dual employment or 'moonlighting' is not permitted, and has warned that any violation of contract clauses will trigger disciplinary action "which could even lead to termination of employment". "No two timing - no moonlighting!" India's second largest IT services company said in a strong and firm message to employees on Monday. Put simply, moonlighting refers to employees taking up side gigs to work on more than one job at a time.
Equity investors' wealth jumped by over Rs 10.19 lakh crore in the three-day market rally to Monday. On Monday, the 30-share BSE Sensex soared by 1,041.08 points or 1.90 per cent to settle at 55,925.74. In three days, the bechmark has zoomed 2,176.48 points or 4 per cent. Helped by jump in equities, the market capitalisation of BSE-listed firms went up by Rs 10,19,936.84 crore to Rs 2,58,47,092.40 crore in three days.
Even as the slowdown in the information technology (IT) services sector deepens, banking, financial services and insurance (BFSI), as well as oil and gas companies, emerge as the primary drivers of corporate earnings in the country. The IT services sector's share in corporate earnings declined to a five-year low of 17.4 per cent in the second quarter (Q2) of 2023-24 (FY24), whereas banks and finance companies accounted for 46.5 per cent, and oil and gas firms contributed 16.8 per cent. At their peak, IT services firms like Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro represented just over a third of the combined net profit of all listed companies in the Business Standard sample.
E-auction or e-tendering moves the process of bidding for government contracts completely online, removing most manual procedures and, therefore, creating an accountability trail.
In sectors like IT, cybersecurity, advanced manufacturing, and transportation, the H-1B One Workforce grant programme would be used to upskill the present workforce and train a new generation of workers.
'Earnings will be the catalyst for markets to march higher from here on out.'
'Midcap and smallcap indices are trading in the expensive zone.'
Global tech major IBM, which employs over a lakh individuals in India, on Wednesday termed moonlighting an unethical practice. Moonlighting, the practice of taking up secondary jobs after the regular work hours, has been highlighted by many tech companies of late. IBM's managing director for India and South Asia, Sandip Patel said, at the time of joining, the company's employees sign an agreement saying they will be working only for IBM.
The Indian Navy, which was earlier looking towards the US for design expertise, technical know-how and operational practices, is now considering the advantages of working with the Royal Navy.
Analysts say the impact on Indian entities would not be immediate
'About 1.2-2 million people will be added to the IT-ITeS workforce by 2020.'
The biggest fear many of the e-commerce firms have is the possible requirement to change business models overnight, which would drastically increase costs as well as disrupt businesses.
Data science isn't just about acquiring skills; it's also about comprehending the business context in which data science is applied.
If you're a beginner eager to embark on wealth-building journey in the real estate sector, Karan Shetty shares this comprehensive guide on how to get started.
Shares of real estate firms have been outperforming over the past year. The rally, analysts say, may hit roadblocks in the near term amid stretched valuations, even as the long-term prospects for the sector remain ebullient. "Most of the positive news flow is already in the price. Hence, investors sitting on hefty profits may partially cash out at current levels," suggests V K Vijayakumar, chief investment strategist at Geojit Financial Services.
'Companies are coming to the campuses, and we have companies booking their slots for the placement season, but the overall number of companies signing is low, and the hiring numbers are also lower.'
Indian policymakers must realise that in buying small quantities of equipment, it becomes hard to start manufacturing them in India, explains Ajai Shukla.
The markets may be entering a consolidation phase and are expected to trade sideways for now after a good run in the last few weeks, suggest analysts. In this backdrop, they suggest investors can book profits at the current levels and enter the market again on a decline from a medium-to-long term perspective. Thus far in fiscal 2023-24 (FY24), the S&P BSE Sensex has moved up around 5 per cent to nearly 62,000 levels.
The government has given an 'in-principle' approval to the special incentive package prepared by the department of information technology for semiconductor manufacturing and other high-tech industries.
Equity benchmark Sensex slumped over 1,000 points to sink below the 55,000-level on Friday, tracking deep losses in IT, finance, banking and energy stocks amid widespread selling in the global markets. A weak rupee, surging crude prices and relentless foreign capital outflows further weighed on sentiment, traders said. The 30-share BSE index ended 1,016.84 points or 1.84 per cent lower at 54,303.44.
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Altman said he was "looking forward" to returning to his previous role at the AI firm.
Siemens reported solid results in the July-September quarter (fourth quarter, or Q4) of 2022-23 (FY23), with the top line growing 25 per cent year-on-year (Y-o-Y) to Rs 5,808 crore. The operating profit margin stood at 12.1 per cent, led by lower employee costs and other operating expenses. The company follows the October-September financial year.
US tech giant Microsoft is in the final stages of talks with the Telangana government to set up a data centre with a total investment of Rs 15,000 crore. According to sources in the state government, the company has zeroed in on a land parcel near Hyderabad for the facility. "In the information technology (IT) space, Telangana is already seeing some major investments. "Microsoft is establishing its data centre here, and it may come out with a public announcement soon," said a source.
Unilever completed one of the largest cloud migrations in the consumer goods industry, with a little help from Accenture and Microsoft, and has become a cloud-only enterprise. Accenture and Microsoft, together with their joint venture, Avanade, worked with Unilever to deliver the transformation in 18 months with minimal disruption to business operations, Accenture said in a release. The release added that it has not only helped ensure and optimise operations for Unilever but also provides a platform to drive innovation and growth.
...current industry models will soon fade out, notes Ajit Balakrishnan.
The company is preparing Information and Communications Technology master plan for four smart cities proposed under the DMIC project.
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