IT/ITes

  • Mumbai, May 25 (IANS) Positive global cues, coupled with value buying and expectations of healthy monsoon rains, lent a fillip to the Indian equity markets on Wednesday. Further, an upgrade of India-based equities by a global investment bank and fresh influx of foreign funds catapulted both the key benchmark indices to …

  • Pharma major, AstraZeneca has set up its first insourced IT facility, The Global Technology Centre (GTC) in Chennai. The pharma industry, as did other sectors, went through a phase of outsourcing services which were designated as non-core. What are the benefits of insourcing versus outsourcing when it comes to IT services, …

  • Mumbai, May 25 (IANS) Positive global cues, coupled with value buying and expectations of healthy monsoon rains, lent a fillip to the Indian equity markets on Wednesday. Consequently, the key indices provisionally ...

  • Mumbai, May 25 (IANS) Positive global cues, coupled with value buying, surged the Indian equity markets on Wednesday. Consequently, the key indices made healthy gains during the late-afternoon trade session, ...

  • M&M, Tech Mahindra among 10 stocks in focus in Tue … The Financial Express - Tue 24 May, 2016 9:08 AM IST
    M&M, Tech Mahindra among 10 stocks in focus in Tuesday’s trade

    Mahindra & Mahindra: Shares of Mahindra & Mahindra (M&M) will remain in focus on Tuesday after the National Green Tribunal (NGT) on Monday banned light and heavy diesel vehicles more than 10-year-old in six major cities of Kerala. Stocks of the company were trading 1.43 per cent down at Rs 1268 (9.20 am). Torrent Pharma: …

  • BSNL defers decision to finalise IT vendor for CRM … The Financial Express - Tue 24 May, 2016 7:43 AM IST
    BSNL defers decision to finalise IT vendor for CRM and billing

    State-owned Bharat Sanchar Nigam Ltd has deferred till June 7 its decision to finalise a partner to outsource the company’s information technology operations to combine customer relationship management and billing, on a managed services revenue-share model. BSNL, the country’s sixth largest telecommunications company, …

  • Sebi may change start-up fund-raising norms The Financial Express - Tue 24 May, 2016 7:14 AM IST

    The Primary Markets Advisory Committee (PMAC) of the Securities and Exchange Board of India (Sebi) is scheduled to meet on May 30 to discuss changes to the regulations relating to fund raising by start-ups. An investment banker and member of PMAC, told FE that the recommendations would take into consideration the feedback …

  • Tax Talk: Tax on dividend leading to consequences no … The Financial Express - Tue 24 May, 2016 7:04 AM IST

    Dividend income received by investors was already taxed through dividend distribution tax (DDT). Prior to DDT dividend was taxable in the hands of recipients and a small amount of dividend was exempted from tax in the hands of individual tax payer. Companies were taxed on their dividend income as well.

  • Infosys wins five-year contract with Commerzbank The Financial Express - Mon 23 May, 2016 5:02 PM IST
    Infosys wins five-year contract with Commerzbank

    Infosys on Monday announced that it has won a five-year contract with Commerzbank, the second largest bank in Germany. As part of this agreement, Infosys will remodel the bank’s investment banking IT architecture, optimise IT processes, and evaluate a potential Post-Trade Processing Utility. The remodeling of its existing …

  • SHRM HR Tech 2016: Minutely assessed the impact of … The Financial Express - Sat 21 May, 2016 6:08 PM IST
    SHRM HR Tech 2016: Minutely assessed the impact of emerging technology on HR

    SHRM HR Technology Conference 2016 Mumbai kicked off with a keynote address from Jason Averbook, CEO, Thought Leader & Author. People, process and technology should work in tandem with organisational goal—this was the resounding message of the Averbook's speech. People, processes and technology should work together for …

  • Apple CEO Tim Cook meets PM Modi: Six key takeaway … The Financial Express - Sat 21 May, 2016 5:31 PM IST
    Apple iPhones might soon sport Made-in-India labels

    Prime Minister Narendra Modi on Saturday met Apple CEO Tim Cook at 7, Race Course Road and discussed various issues including Make in India and tapping the country's young talent. The head of the US-based Apple, which makes iconic iPhones and Mac computers, has already announced during this trip setting of an app development …

  • How power of cloud computing can be used to enhanc … The Financial Express - Sat 21 May, 2016 1:24 PM IST
    How power of cloud computing can be used to enhance business

    Organisations, instead of indulging directly, tend to see the result around before investing into it. Cloud computing has been one of those face-changing IT inventions that took some time to work its magic in the corporate world, but now has almost become an inseparable wing for most organisations. Cloud has some very …

  • Dividend payout ratio inferior in India The Financial Express - Sat 21 May, 2016 6:06 AM IST
    Dividend payout ratio inferior in India

    Although India commands higher valuations in terms of earnings multiples, it has an inferior dividend payout ratio compared to many emerging and developed markets. Data compiled by FE shows that India’s top companies( BSE 30 as well as BSE500), distributed close to 30% of their 2015 profits as dividends while some of the …

  • Tata Steel gains 24.4% in 2016, outperforms other  … The Financial Express - Sat 21 May, 2016 6:05 AM IST

    Tata Steel has gained as much as 24.4% in 2016, outperforming other members of the Sensex. It currently commands market capitalisation of Rs 31,360.5 crore. Prices of China domestic HR sheet have risen to $404/ tonne compared to $280/tonne in December 2015.

  • Dollar rises to third weekly gain; stocks jump Reuters - Sat 21 May, 2016 1:47 AM IST
    Traders work on the floor of the NYSE

    Global equity markets rose on Friday as investors took in stride the possibility the Federal Reserve may hike interest rates in June, a view that helped U.S. bond yields to rise and lifted the dollar to ...

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Oil & Gas

  • Logos of Shell is pictured at a gas station in the western Canakkale province

    Royal Dutch Shell will cut a further 2,200 jobs, taking its target for layoffs to 12,500 by the end of the year, the Anglo-Dutch oil firm said on Wednesday, as it cuts deeper in the face of weak oil prices. Shell let go 7,500 staff and direct contractors last year and previously said 2,800 jobs would be cut with the integration …

  • India’s LNG imports rise 45% in April The Financial Express - Wed 25 May, 2016 7:59 AM IST
    India’s LNG imports rise 45% in April

    With liquified natural gas (LNG) prices hovering around a benign $5/mBtu for several months coupled with drop in domestic production of natural gas, India’s gas imports have risen a steep 45.4% annually in April. The domestic natural gas output fell 5.5% in FY16 at 25,306.73 mmscm. Over the next five years, demand from …

  • Shell faces rising investor discontent over executive … Reuters - Tue 24 May, 2016 9:16 PM IST

    Investor discontent with Royal Dutch Shell over multi-million euro pay packages for its top executives rose sharply at this year's annual shareholder meeting on Tuesday. Although Shell's shareholders approved the oil and gas group's remuneration report, including chief executive Ben van Beurden's 5.14 million euros ($5.74 …

  • Shell CEO warns renewables shift could spell end if … Reuters - Tue 24 May, 2016 8:23 PM IST

    Royal Dutch Shell cannot switch too quickly to producing renewable energy without risking its dividend payments and even its very existence, the oil and gas group's chief executive warned. Major investors, including Dutch pension fund PGGM, have criticised Shell's climate change policy in recent months, saying it should …

  • India seeks bids for oil, gas fields in first auction … Reuters - Tue 24 May, 2016 2:31 PM IST
    A worker examines the valve of a pump on an ONGC well on the western Indian city of Ahmedabad

    India is putting up for auction nearly four dozen small oil and gas fields in the first such sale in six years, the oil ministry said in a newspaper advertisement on Tuesday. A successful auction of the small oil and gas fields is seen as crucial to a recently announced hydrocarbon policy, which India hopes will unlock …

  • Modi govt rewrites rules for auction of marginal oil … The Financial Express - Tue 24 May, 2016 7:47 AM IST
    Better LPG, kerosene targeting soon; to reduce subsidised consumers by another 2 -2.5 cr: Dharmendra Pradhan

    Apart from entrenched players, start-up firms and new players with little experience in operating hydrocarbon blocks would also get the chance to bid for the 67 discovered marginal oil and gas fields that would go under the hammer starting Wednesday. The Modi government had put in place a dynamic policy for potential operators …

  • Samara Capital exits Asian Oilfield Services at hu … The Financial Express - Tue 24 May, 2016 7:02 AM IST

    Private equity fund Samara Capital has sold its entire stake in Asian Oilfield Services to Oilmax Energy, a Mumbai headquartered energy exploration company, for close to Rs 30 crore. The exit comes at a huge loss for Samara Capital, which had first invested in Asian Oilfield, a reservoir imaging company, at around R28 …

  • BP's oil search strategy shrinks with budget cuts Reuters - Mon 23 May, 2016 3:54 PM IST
    sSignage for a BP petrol station in London

    The surprise departure of BP's exploration boss has turned the spotlight on an oil search strategy that, after years of spending cuts, is focusing mainly on expanding existing fields rather than venturing expensively into the unknown. "Exploration doesn't necessarily have to look like (nature broadcaster) David Attenborough …

  • Abu Dhabi lays off staff as Gulf austerity tighten … Reuters - Sun 22 May, 2016 3:52 PM IST
    Buildings are pictured in Abu Dhabi

    Thousands of layoffs at state-linked companies in Abu Dhabi are a fresh sign the Gulf's wealthy oil states are hunkering down for a long period of austerity as low crude prices pressure their economies. Since mid-2015, the United Arab Emirates (UAE), Saudi Arabia, Qatar and other countries in the region have curbed spending …

  • Mayank Ashar becomes third CEO to quit Cairn India … The Financial Express - Sat 21 May, 2016 6:34 AM IST
    Mayank Ashar becomes third CEO to quit Cairn India in five years

    In an unexpected development, Mayank Ashar, managing director and CEO at Cairn India, which operates the country’s biggest on-land oilfield, has quit the firm citing “personal reasons”. Ashar had joined Cairn in May 2014 taking over from P Elango, then interim CEO. The 60-year-old executive’s exit from the Vedanta Group …

  • Crude oil a scarce resource, Cairn India can’t export … The Financial Express - Fri 20 May, 2016 6:31 AM IST
    Crude oil a scarce resource, Cairn India can’t export from Barmer: Centre to HC

    The Centre on Thursday told the Delhi High Court that crude oil being a scarce resource, Cairn India, a subsidiary of UK-based Vedanta group, could not be allowed to export it from its Barmer oil and gas block in Rajasthan. Additional solicitor general Tushar Mehta, appearing for the ministry of petroleum and natural gas, …

  • Burnt by oil price crash, Europe's oil majors warm … Reuters - Wed 18 May, 2016 10:11 PM IST

    Europe's biggest oil companies, reeling from losing billions in the two-year oil market rout, are intensifying their push into renewable energy as they hunt for new sources of future revenue. Shell, Eni, Total and Statoil have announced green energy investments with a combined value of around $2.5 billion in recent weeks …

  • Norway awards 10 new oil licences for exploration in … Reuters - Wed 18 May, 2016 9:22 PM IST

    Norway has awarded 10 oil licences to energy companies in the Arctic, opening new acreage for exploration for the first time in two decades and granting access to an offshore zone bordering Russia. Norway is hoping the new areas will help boost a sector that has been shedding projects, costs and jobs due to a 57 percent …

  • Cut OID cess by half, says parliamentary standing  … The Financial Express - Wed 18 May, 2016 7:32 AM IST
    Cut OID cess by half, says parliamentary standing committee

    Oil and gas exploration companies such as ONGC, Cairn India and Oil India could get further relief from paying the Oil Industries Development (OID) cess if the finance ministry agrees to the recommendation made by the standing committee on petroleum and natural gas to halve the impost. In his last Union Budget, finance …

  • Exclusive: China's Fosun sets sights as world leader … Reuters - Tue 17 May, 2016 8:48 PM IST
    Billionaire Guo Guangchang, Executive Director and Chairman of Fosun International, attends the annual general meeting in Hong Kong

    Fosun Group, China's largest private conglomerate, is aiming to become a world leader in insurance, tourism and healthcare but also has a "clear plan" to reduce its debts, chairman and co-founder Guo Guangchang said on Tuesday. In an exclusive interview with Reuters, Guo said his group - which up to now has largely targeted …

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Banking & Finance

  • Indian Banks to Modify Interest Rates for Savings  … Contify Banking - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian banks may revise the interest rates on saving deposit account balance exceeding Rs 100,000, reported Business Standard. Private sector lenders such as Kotak Mahindra Bank and IndusInd ...

  • Canara Bank to Set up 47 Micro Enterprises Biz Cen … Contify Banking - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian public sector lender Canara Bank has plans to set up 47 Micro Enterprises Business (MEB) centres all over the country. The Bangalore-based PSB explained that the proposed MEB centres ...

  • Indian Banks Achieve Jan Dhan Account Opening Targ … Contify Banking - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian banks have achieved the target of opening 75.16 million accounts for the low-income households under the Pradhan Mantri Jan-Dhan Yojana (Prime Minister's People Funding Scheme), reported ...

  • Axis Bank Garners $500 Mln via Bonds Contify Banking - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian private sector lender Axis Bank has garnered capital worth $500 million in a 5.5-year dollar-money at 3.25% fixed rate coupon. The Mumbai-based lender has raised the capital through its ...

  • Essar Steel Algoma Garners $1.2 Bln for Debt Refin … Contify Investment - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Essar Steel’s Canadian subsidiary, Essar Steel Algoma, has garnered around $1.2 billion to refinance its previous debts, Business Line reported. The refinancing comprises a debt of $750 million, ...

  • DoT to Start 3G Spectrum Auction from Feb 23, 2015 Contify Investment - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- The Department of Telecommunications (DoT) stated that the proposed spectrum auction will start from February 23, 2015 instead of February 3, Business Standard reported. The delay is due to ...

  • SpiceJet Hopes to Make Profit in 12 Months Contify Investment - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian low-cost carrier SpiceJet aims to see profit within a year after receiving fresh amount of capital by sealing a mega deal, Business Standard reported. The company is about to close the ...

  • Citibank India Names Arvind Vashistha as Its Equity … Contify Banking - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- Citibank India, a subsidiary of US-based global financial service corporation Citigroup, has named Arvind Vashistha as its equity markets head. Vashistha would be reporting to Citibank India’s ...

  • NSE, BSE Keen to Set up Small Banks Contify Banking - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- Indian bourses the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) are considering to open small banks across the country once the Reserve Bank of India (RBI) start the application ...

  • Govt Nominates Hasmukh Adhia as RBI Director Contify Banking - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- The Indian government has nominated Hasmukh Adhia as a director on the Central Board of Directors of the Reserve Bank of India (RBI). Adhia has assumed the new role with effect from November ...

  • Central Bank of India Rolls out Two New Schemes for … Contify Banking - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- India’s public sector lender Central Bank of India has unveiled two latest schemes to facilitate its retail customers to avail housing loan by way of overdraft facility and liquidity on their ...

  • Reliance Jio Garners $1.5 Bln to Repay Loans Contify Investment - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- Reliance Jio Infocomm (RJIL), the telecom unit of the diversified group Reliance Industries Ltd (RIL), plans to garner around $1.5 billion from a consortium of 26 banks to refinance the loans. ...

  • India's Domestic Air Traffic Increases 18.31% in Oct … Contify Investment - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- Domestic air traffic increased by 18.31% in October this year as airlines carried over 59.25 lakh passengers during the month compared to 50.08 lakh passengers in the same month last year, Directorate ...

  • SBI Likely to Offer $1 Bln Loan to Adani for its Australian … Contify Banking - Mon 17 Nov, 2014 8:21 PM IST

    Nov. 17 – India’s largest public sector lender State Bank of India has inked an agreement with Adani Enterprises allowing the conglomerate to avail loan up to $1 billion for the development of its infrastructure ...

  • Govt to Meet PSB chiefs on Nov 20 Contify Banking - Mon 17 Nov, 2014 8:21 PM IST

    Nov. 17 --The finance ministry has scheduled a meeting with the chiefs of government-owned banks on November 20 to review the financial performance of PSBs and progress of Pradhan Mantri Jan Dhan Yojana ...

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