Demand for digital technologies and resumption of normal economic activities will drive sales for IT companies, and the sector will post a revenue growth of up to 9 per cent in 2021-22, a report said on Thursday. Rating agency Icra gave a "stable" outlook for the sector, whose size is pegged at over $180 billion by industry lobby Nasscom, including the business process outsourcing business. The IT services sector's revenues will rise between 7-9 per cent in rupee terms and between 5-8 per cent in dollar terms in 2021-22, it estimated.
Battered by the Covid-19 pandemic, the maker of the Fortuner and Innova models is staring at a steep loss in the ongoing financial year.
Banks, including country's largest lender State Bank of India, have informed the customers well in advance about the likely inconvenience due to strike.
The events of the last few years shows that pessimism about where we have arrived and where we are headed is justified, asserts Aakar Patel.
US job growth increased at a fairly brisk clip in October and the unemployment rate fell to a fresh six-year low of 5.8 per cent, underscoring the economy's resilience in the face of slowing global demand.
The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,197 crore a year ago, a regulatory filing said. Infosys' revenue grew 22.9 per cent to Rs 31,867 crore in the quarter ended December 2021 from Rs 25,927 crore in the year-ago period, it added.
The Reserve Bank of India (RBI) booked massive gains on its foreign currency sales and needed to provide much lesser for its reserves in 2020-21 (FY21), helping it to carve out a significant Rs 99,122-crore dividend for the government, revealed the RBI's annual report for FY21. By doing so, the central bank's risk buffers have reduced to the bare minimum, which may restrict some of RBI's scale of operations, and would likely hamper dividend payout for financial year 2021-22, said analysts. The annual accounts are for nine months ended March 31, 2021 since the RBI changed its accounting year from July-June to April-March from FY21.
Investors have another reason to wrinkle their noses at emerging economies - fading labour productivity.
US President-elect Joe Biden will work towards providing a roadmap to American citizenship for nearly 11 million undocumented immigrants, including over 500,000 from India, and will also establish a minimum admission number of 95,000 refugees annually.
India is worried about Pakistan getting the Taliban to ignite trouble in Kashmir, observes Ramesh Menon.
Biden's proposal also sets aside USD 20 billion for a national vaccination programme and USD 50 billion to scale up coronavirus testing.
Globally, just 8 billionaires have same amount of wealth as the poorest 50% of the world population.
'We will not compromise on it. We will not make any deferred payments or cuts.'
'Now, we have a minimum pension of Rs 1,000 annually.'
Nearly 25 million jobs could be lost worldwide due to the coronavirus pandemic, but an internationally coordinated policy response can help lower the impact on global unemployment, according to a UN agency. In its preliminary assessment report titled 'COVID-19 and world of work: Impacts and responses', the International Labour Organization (ILO) calls for urgent, large-scale and coordinated measures across three pillars -- protecting workers in the workplace, stimulating the economy and employment, and supporting jobs and incomes.
'The fiscal deficit target of 3.9 per cent of GDP seems achievable.'
Trump to sign an executive order aimed at achieving a more skills-based and merit-based immigration system.
Migrants do many of the dirty and dangerous jobs in the region, from construction to the oil industry, transport and services
'Sometimes we succeed, sometimes we don't.' 'But you can use the RTI to improve the future.'
'Just see what kind of political, social and economic impact it will have when the number of unemployed goes up four times in one year suddenly.'
As the world awaits the end of the global pandemic, rural Bengal might be witnessing a recession unfolding in bits and pieces. With factories and tea gardens closing down, agricultural income falling and storm Aila ravaging a large part of deltaic West Bengal in 2010, migration gradually became a norm.
Steady US job growth poses gruelling wage riddle.
India Ratings and Research on Friday revised down India's FY22 real GDP growth forecast to 10.1 per cent, from earlier projection of 10.4 per cent, citing the second wave of COVID-19 infections and slower pace of vaccination. At a time when large parts of the country are experiencing tremendous pressure on medical infrastructure, the agency said it expects the second wave to start subsiding by mid-May. Earlier this month, the Reserve Bank maintained its 10.5 per cent GDP growth estimate, but Governor Shaktikanta Das has flagged the rising cases as the biggest impediment to recovery.
410 civil servants in a feedback survey to the Prime Minister's Office said that the curfew should stay till the pandemic is controlled and asked to increase fiscal spending on health infrastructure to around Rs 5-10 trillion.
The wealth of India's richest 1 per cent increased by over Rs 20.9 lakh crore during 2017.
Billionaire Jeff Bezos, who founded Amazon as an online bookseller nearly three decades ago, will step down as the CEO of the $1.7 trillion global retail giant in the third quarter of 2021 with Andy Jassy being named his successor.
The information technology sector, India's largest private-sector employer with 3.1 million direct jobs, will witness muted hiring activity this year.
Ten central trade unions on Friday gave a call for a nationwide strike on May 22 to protest against the suspension of labour laws by some states during the lockdown period, and also decided to take the matter to International Labour Organization (ILO). "The joint platform of Central Trade Unions (CTUs) in their meeting held on May 14 , 2020 took note of the critical situation for the working people in the country during the lockdown period and decided to enhance united actions to meet the challenge," a joint statement by 10 CTUs said.
Australian Prime Minister Julia Gillard will get more salary than United States President Barack Obama and the United Kingdom Prime Minister David Cameron, as the country's Remuneration Tribunal has decided in favour of increasing the wage of the members of Parliament.
'Last Saturday, the largest number of people travelled by air on a single day!' 'There is a kind of hunger among consumers to spend as they have been confined to their homes and not spending for almost 2 years.'
The biggest change his administration will make is to increase the proportion of highly-skilled immigration from 12 per cent to 57 per cent, Trump said.
Congress leader Rahul Gandhi on Friday assured that the Citizenship Amendment Act (CAA) will not be implemented in Assam if the party is voted to power in the state in the coming assembly poll.
Premier League clubs enjoyed record revenues of 3.3 billion pounds ($4.76 billion) in 2014-15 thanks to broadcast deals that will be even more lucrative next season, according to Deloitte.
Workers being laid off will be entitled to full wages of 45 days for every year of service.
Wipro has guided for 0.8-2.8 per cent sequential growth in IT service revenue for December quarter, saying revenue from that business is expected to be $ 2,065-2,106 million.
Australian Prime Minister Julia Gillard will get more salary than United States President Barack Obama and the United Kingdom Prime Minister David Cameron, as the country's Remuneration Tribunal has decided in favour of increasing the wage of the members of Parliament.
'You can't take jobs to people, you have to take people to jobs.'
The only feasible way to have a healthy banking sector could be making it mostly private, along with two or three large, better-run government banks, suggests T N Ninan.
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