76 families took a Qatar Airways flight from San Francisco on Sunday evening and reached Bangalore International Airport after a 20-hour flight. These employees were stuck in the US due to various reasons.
LPG customers of Bharat Petroleum Corporation Limited (BPCL) will continue to get cooking gas subsidy post-privatisation of the nation's second-biggest fuel retailers, Oil Minister Dharmendra Pradhan said on Friday. "Subsidy on LPG is paid to consumers directly and not to any company. So the ownership of the company that sells LPG is not of any material consequence," Pradhan told PTI. The government gives 12 cooking gas (LPG) cylinders of 14.2-kg each to households in a year at a subsidised rate.
India's largest software services company Tata Consultancy Services (TCS) on Wednesday it has seen a surge in demand for its services and expects to recruit 10,000 individuals in the US by 2022. The Mumbai-based company has hired over 21,500 employees in the past five years in the US.
US-based Oaktree on Monday pipped Piramal Enterprises and Adani Group to emerge as the highest bidder for DHFL after fresh bids were invited under the insolvency process, according to sources. The committee of creditors had fixed December 14 as the last for submission of revised bids. According to the sources, Oaktree raised the bid to Rs 36,646 crore, including Rs 1,000 crore for insurance and Rs 3,000 crore of interest earned, while Piramal Enterprises offered Rs 35,550 crore, including Rs 300 for insurance and Rs 3,000 of interest earned.
Sector experts say rising pressure on margins owing to price discounts on the core business, increased hiring in the US and emergence of new technology areas are key reasons for such cost cutting.
In India, Accenture said it continues to hire, and as part of its ongoing compensation programs, it also recently recognised a number of its people with bonuses and promotions.
Among the sectors, the survey has projected IT, pharma and life sciences, and ITeS among those looking to effect the highest increase in salaries.
Infosys raised the lower-end of its FY20 revenue guidance and the revised forecast now stands at 9-10 per cent growth in constant currency terms.
Compared to equity funds, debt funds are lower risk profile and are usually suitable for investors for very short term.
'It won't help being complacent about the momentum and valuations of equities that currently exist.'
Tata Consultancy Services (TCS) has been ranked the third most-valued IT services brand globally, after Accenture and IBM, according to a report by Brand Finance. Four Indian IT services companies -- TCS, Infosys, HCL and Wipro -- secured spots in the top-10 global tally.
The Mumbai-headquartered company, however, said it would selectively hire experienced employees from outside.
'With nearly double the market share of our nearest competitor, we are shaping the digital transformation journey of close to 1,000 clients in India.'
While Yatra is building a digital services platform to offer skill development training and sourcing solutions to corporate, Thomas Cook has partnered ICMR-accredited labs to offer Covid-19 certification, and MakeMyTrip is offering chartered flight services.
Among manufacturing companies that went to the National Company Law Tribunal (NCLT), chemicals and metal firms witnessed more resolutions while companies in the labour intensive (employment friendly) leather and textile sectors mostly get liquidated, reports Abhishek Waghmare.
Tier-II and tier-III towns have a reason to rejoice.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
This makes it the most valued fintech company in the country after Paytm and Walmart-owned PhonePe.
The Ola Money and Uber tie-ups demonstrate how insurance companies, including even government-run ones, are forging partnerships with every possible service company to offer products.
The company is looking at building the 'bench' of employees in reserve, to be prepared for emerging demands, beside keeping staff attrition in control. Maintaining decent bench strength would help in implementing new projects.
'Our focus on fresher induction is high, given that they come in with certain advantages.' 'They do not have an unlearning process as seen in senior employees.'
Across 10 prominent services, revenue to the government reduced by 20 per cent in the first year of GST compared to the last year of the service tax regime. This happened despite tax liability against these services growing by 50 per cent in one year.
Prime Minister Narendra Modi on Wednesday said the government has no business to be in business and his administration is committed to privatising all PSUs barring the bare minimum in four strategic sectors. "It is government's duty to support enterprises and businesses. But it is not essential that it should own and run enterprises," he said. Modi also said the Centre's policy is to either monetise or modernise public sector enterprises, with the intent that the government has "no business to be in business".
The IHS Markit India Services Business Activity Index stood at 5.4 in April, an extreme decline from 49.3 in March, and indicative of the most severe contraction in services output since records began in December 2005. As per the IHS Markit India Services Purchasing Managers' Index (PMI), a print above 50 means expansion, while a score below that denotes contraction.
The RBI rejection is a second blow to BoB - the lead bank of both companies -- after a Delhi high court order on August 18 stayed a move by BoB and the entire consortium of lenders to classify these accounts as fraud, restraining them from taking any other coercive action till the next hearing.
Engineering graduates specialising in artificial intelligence and machine learning can earn up to 24 lakh a year, says Saran Balasundaram, founder and CEO, HanDigital, a talent consulting firm.
The top four Indian IT firms have cash reserves of nearly $15 billion with TCS alone holding $5.9 billion in reserves, followed by Infosys with $3.6 billion, and Wipro with $3.4 billion. HCL Technologies has cash reserves of $1.75 billion.
This is expected to benefit subcontractor firms such as Manpower Group, Randstad, Adecco, Kelly Services, Allegis Global Solutions and a host of other boutique staffing firms which supply skilled manpower to technology companies in the US.
Most of the large Indian IT services players, such as TCS, Infosys, Wipro, and HCL Tech, have signalled increased offshoring efforts and opting for local hires in the US, primarily to address the immigration-related challenges.
HR experts estimate that up to 70 per cent companies in the manufacturing and services space including sectors like auto components, edutech and construction equipment are looking to restore the salary cuts over the next couple of months.
Sources say the Mark Zuckerberg-led company wants to ensure there are no issues in its investment in the subsidiary of Reliance Industries and has roped in one of the Big Four consultancy firms to advise it on how the new "beneficial ownership" norms would apply to the proposed investment in Jio.
If you are an expert in programming languages, statistics and algebra, then a career in AI and ML is worth a shot in 2021.
According to several industry sources in the know, expenses towards deploying contractual staffer, which used to account 10 per cent of the overall billable employee cost at IT firms, has fallen to around 3 per cent. IT firms typically use the contractual workers from staffing solutions providers or subcontractors.
Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
The government is considering setting up air freight stations to enable direct movement of vaccines from pharmaceutical factories to the aircraft.
'If the business doesn't recover in next 6-10 months, there might be situation where there would be some lay-offs...That may be required for survival and to ensure livelihood to millions of people.'
Wipro chief executive Abidali Z Neemuchwala saw his pay package grow 41 per cent to $ 3.9 million during 2018-19.
While discretionary spend by global enterprises is likely to negatively impact all Indian IT firms, more revenues from products and less exposure to financial services segment are likely to lessen the impact for HCL Technologies and Tech Mahindra.
Analysts are of the opinion that 55 may emerge as the new age to retire for techies in India
There is no one way to describe the 12 months that have gone by since India reported its first Covid-positive case on January 30, 2020.
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