For IT czar Azim Premji, what's happening in the Eurozone facing a two-year debt crisis is something like new Bollywood films hitting silver screens every week in India.
In response, the New York Stock Exchange-listed firm said it has paid the tax and has sought a meeting with Bruhat Bangalore Mahanagara Palike for a discussion on the issue and has a 'strong enough' case in defence.
The strike has been on for four days at the Nashik centre of the business process outsourcing company, which has a headcount of 23,874.
New York Stock Exchange-listed Starwood Hotels & Resorts Worldwide, Inc, on Wednesday said it expects to operate 50 hotels in India by the end of 2012 and the country is second only to China in its plans for future growth.
The high-profile race to buy India's second-largest business process outsourcing (BPO) company, WNS Holdings, ended abruptly today after the company informed the US Securities and Exchange Commission (SEC) that it had decided to stop discussions with interested parties regarding a possible change of control.
"Outlook for wages and salaries... given the current scenario, we have no plans for increase in the course of the year," the Bangalore-headquartered, New York Stock Exchange-listed company's executive vice-president, Pratik Kumar said. On campus hiring in the current fiscal, he said the company would visit the colleges (only) in January-March (unlike previous years when they selected students a year before they got the degree) but gave no firm numbers.
Premji said that the country was very innovative with fundamental R&D in the solar energy space, and not just a copycat.
The company would hire over 1,000 people for its Gurgaon office in the country, the New York Stock Exchange-listed firm said.
The New York Stock Exchange-listed Indian IT major Satyam Computer Services' founder and then-chairman Ramalinga Raju had shocked the world three weeks ago on January 7 with the disclosure of a massive financial wrongdoing to the tune of over a billion dollar at the company. This was followed by the NYSE suspending trading in Satyam shares the very same day.
Other regions where the New York Stock Exchange-listed firm is targeting to expand its presence include China and Latin America. In an investor presentation, it said that as part of measures to cut costs in "corporate and other overhead, the company has slashed its headcount by 14 per cent," in addition to which finance, HR and IT staffing have also been reduced.
The telecom ministry will decide on the merger between the state-owned telecom companies, Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd, only after the listing of the former.
The New York Stock Exchange-listed Nova said in a statement that it has signed a letter of intent with RIL for the joint venture, which is expected to be operational by the third quarter of 2008 after finalising the formal agreements. Shares of Nova Chemicals rose 3.8 per cent to $26.17 at the NYSE on Thursday, while that of RIL were trading 1.3 per cent up at Rs 2,649 at the Bombay Stock Exchange on Friday.
Wipro has announced changes in the management structure of its IT business and expansion of its board. The firm appointed Girish Paranjpe, Suresh Senapaty and Suresh Vaswani to the Board of Wipro Ltd. Wipro also re-structured its IT business by appointing Girish Paranjpe and Suresh Vaswani as joint-CEOs. Paranjpe was the president of the banking, financial services & insurance business unit of the global IT business of Wipro. Suresh Vaswani was the president of Wipro Infotech
Global technology service provider EDS said on Monday it has reached an agreement to acquire Bangalore-based software testing firm RelQ Software Private Ltd.
Premji said, Wipro is not feeling the "effects" of the eurozone crisis.
Software major Wipro's head of sales (America), Rich Garnick has resigned, the second such exit of a senior executive after the company's high-profile vice-chairman Vivek Paul left the firm a month ago.
Nasdaq-listed Wipro Ltd on Wednesday said its chairman Azim Premji has been named among the 'greatest entrepreneurs' of all time by BusinessWeek.
On the prowl for more buyouts, software major Wipro would pursue the strategy of acquisitions more aggressively in future along with other initiatives.
Indian television company NDTV is in advanced stages of negotiations with NBC Universal, a subsidiary of New York Stock Exchange-listed General Electric to sell between 25 and 30 per cent in its UK-based subsidiary NDTV Networks Plc.
IT major Wipro has proposed to establish a software economic zone in Kolkata, according to a top government official.
Wipro Technologies on Monday announced the successful implementation of an e-Ticketing solution for easyCinema, a new venture of the Europe-based easyGroup.
The New York Stock Exchange-listed Perot Systems on Thursday said it has reached an agreement to acquire the Chennai-based healthcare claims processing company Vision for an aggregate value of $10 million.
Ma is also exploring strategic play in one of the largest media houses in India.
'After some time, they all want to know what is happening in their companies.' 'It is better they remain board members rather than talk outside.'
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