IT/ITes

  • Make in India for mobiles: Will GST dial trouble for handset makers?

    Foreign mobile handset makers that have set up assembling units — and lately manufacturing facilities — in India relying on various indirect tax concessions from the central and state governments fear that these incentives could go away once the goods and services tax (GST) regime is introduced. Unless policymakers give …

  • New Delhi, May 2 (IANS) When it comes to online smartphone shopping in India, the LeEco Le 1s device has beaten all rivals in the Rs.10,000-Rs.15,000 price bracket, a report said on Monday. Among 243 smartphones available online, the Rs.10,999 Le 1s was ranked the top selling device in February, the report from global …

  • Bengaluru real estate a good bet, here is why and where … The Financial Express - Mon 2 May, 2016 10:41 AM IST
    Bengaluru real estate a good bet, here is why and where to invest

    Bengaluru is proving to be a shining spot for real estate investors. Experts say Bengaluru is a stable realty market and has steady prices as it has neither seen violent fluctuations nor a crash which could have enginereed a negative sentiment. "Residential sales in Bengaluru has seen stable 9-10 per cent growth over …

  • Spectacular start: Smart volume growth in FMCG, telecom, … The Financial Express - Mon 2 May, 2016 6:00 AM IST
    Spectacular start: Smart volume growth in FMCG, telecom, auto sector earnings

    Infosys, Reliance Industries, Idea Cellular, Maruti Suzuki, Bharti Airtel — surpassing the Street's expectations. This time around even smaller firms — Exide, Marico, Dabur, Rallis — have surprised analysts. Some commodity players are in a spot as the losses at Cairn show — the oil explorer took an impairment charge of …

  • Paytm ropes in Wipro for payments bank business The Financial Express - Mon 2 May, 2016 5:53 AM IST
    Paytm ropes in Wipro for payments bank business

    Wipro will implement core technology solutions for Paytm’s payments bank business, which is expected to be rolled out in the second half of 2016. Mobile wallet and e-commerce company Paytm (One97 Communications Ltd), led by Vijay Shekhar Sharma, received in August an in-principle approval from the Reserve Bank of India …

  • How TCS, Infosys, Wipro & HCL are gearing up with fresh … The Financial Express - Mon 2 May, 2016 5:42 AM IST
    How TCS, Infosys, Wipro & HCL are gearing up with fresh strategies to tackle demand

    The fiscal 2015-16 has been a very eventful year for the $150 billion Indian IT industry with the sector cognizant of the fact that the current model is very unlikely to take them to the next level of growth. The process has already started for the Indian IT industry with themes like digital and automation being on top …

  • Salaries top source of taxpayers, but 60% filers report … The Financial Express - Sat 30 Apr, 2016 6:40 AM IST
    Salaries top source of taxpayers, but 60% filers report nil salary

    This was when salary income — the largest source among individual taxpayers — was shown as nil by 60% of the 2.88 crore people who filed tax returns in that year. As the 3.12 crore tax filers (incorporated and unincorporated entities, HUFs and individuals) were divided into 24 groups — with annual incomes from different …

  • Infosys introduces new artificial intelligence pla … The Financial Express - Sat 30 Apr, 2016 6:34 AM IST

    Infosys, India's second largest IT services exporter, has introduced a new artificial intelligence (AI) platform called Mana. Infosys Mana brings machine learning together with the deep knowledge of an organisation, to drive automation and innovation.

  • Negative global cues depress equity markets IANS - Fri 29 Apr, 2016 6:50 PM IST

    Mumbai, April 29 (IANS) Negative global cues, coupled with disappointing quarterly results and profit booking, depressed the Indian equity markets on Friday. This led to key indices of the Indian equity ...

  • Sensex ends flat, posts first weekly drop in three Reuters - Fri 29 Apr, 2016 4:08 PM IST
    A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai

    REUTERS - India's stock markets closed unchanged after a volatile trading session on Friday as gains in energy stocks, following a recovery in crude prices, were offset by disappointing quarterly results ...

  • Infosys, Microsoft strengthen linkages: Top 5 points … The Financial Express - Fri 29 Apr, 2016 3:46 PM IST
    Infosys, Microsoft strengthen linkages: Top 5 points to note

    Vishal Sikka led Infosys today announced an expanded relationship with Microsoft Corporation in driving industry-led solutions,  to simplify and automate migration to Microsoft products and to accelerate Microsoft Azure-based and other digital transformations for clients. Infosys has committed to scale up its team of dedicated …

  • LIVE: Sensex down over 150 points, Nifty below 7,800; … The Financial Express - Fri 29 Apr, 2016 2:28 PM IST
    LIVE: Sensex down over 150 points, Nifty below 7,800; ICICI Bank down over 2%

    The BSE Sensex and NSE Nifty opened in negative terrain on Friday tracking global cues.

  • Infosys new platform to drive automation, innovati … IANS - Fri 29 Apr, 2016 11:30 AM IST

    Bengaluru, April 29 (IANS) Software major Infosys has developed a knowledge-based artificial intelligence (AI) platform to drive automation and innovation for its global clients. "The platform Mana brings machine learning with knowledge of an organisation to drive automation and innovation for enabling businesses reinvent …

  • Idea Cellular, ICICI Bank, Vedanta among 10 stocks … The Financial Express - Fri 29 Apr, 2016 9:10 AM IST
    Idea Cellular, ICICI Bank, Vedanta among 10 stocks in focus in Friday’s trade

    Idea Cellular: Telecom operator Idea Cellular on Thursday said it has launched its 4G services to 84 more towns of Andhra Pradesh and Telangana circle, taking the total tally to 121 in both the circles. The company's net profit declined by 39 per cent to Rs 575.6 crore in the last quarter of 2015-16 due to a spike in finance …

  • Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City

    The results draw a sharp contrast to the disappointing fourth quarter Amazon reported in January, which renewed worries among some shareholders about the company's comparatively thin profit margins. Amazon's performance also assuaged concerns about a broader slowdown among tech and internet companies after Apple (AAPL.O), …

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Oil & Gas

  • Exclusive: Qatar fund uses more external managers, … Reuters - Sun 1 May, 2016 8:05 PM IST

    Qatar's sovereign wealth fund is reducing its focus on investments in Europe and placing more of its money with external managers following an internal review, sources familiar with the matter told Reuters. Qatar Investment Authority, estimated by industry tracker Sovereign Wealth Fund Institute to hold $256 billion of …

  • Singapore's OCBC profit dips as Asian banking outlook … Reuters - Fri 29 Apr, 2016 10:24 AM IST

    Oversea-Chinese Banking Corp, Singapore's second-biggest lender, warned of sluggish loan growth this year and risks from the offshore marine sector due to weak commodity prices, as it posted its smallest profit in more than a year. The bank posted a worse-than-expected 14 percent drop in quarterly net profit as bad debt …

  • Shell opens global in-house IT centre in Bengaluru IANS - Wed 27 Apr, 2016 8:26 PM IST

    Bengaluru, April 27 (IANS) Global oil and gas major Shell's Indian arm Shell India Markets on Wednesday inaugurated its in-house global IT centre here, with plans to recruit 1,000 professionals in 2016 and thousands more by 2020. "India, especially Bengaluru, has proved to be the centre of innovation and delivery over …

  • Saudi Aramco sets financing plans for industrial p … Reuters - Wed 27 Apr, 2016 7:23 PM IST
    An oil tank is seen at the Saudi Aramco headquarters during a media tour at Damam city

    The world's biggest energy company Saudi Aramco outlined financing plans on Wednesday that will support its expansion into new areas under a sweeping economic reform plan released by Riyadh this week. The reforms envisage Aramco transforming itself from an oil and gas firm into a "global industrial conglomerate" involved …

  • Barclays Q1 profit falls 33 pct as investment banking … Reuters - Wed 27 Apr, 2016 12:54 PM IST
    The logo of Barclays is seen on the top of one of its branch in Madrid

    Barclays reported a worse than expected 33 percent slump in pretax profits for the first three months of the year, as the lender followed its U.S. peers in reporting falling investment banking revenues in a weak global market environment. Barclays said first quarter pretax profits fell to 793 million pounds ($1.15 billion), …

  • All that gas The Financial Express - Wed 27 Apr, 2016 5:34 AM IST
    All that gas

    The Congress party is desperate to stick some corruption scandal on the Prime Minister, thereby eroding his credibility and capacity to govern. Chandra Shekhar, the former Prime Minister, was apparently fond of asserting that all politicians were equally steeped in corruption (is hamam mein sab nange hain). This seems …

  • European shares rebound as UPM, BP results beat fo … Reuters - Tue 26 Apr, 2016 2:13 PM IST

    Encouraging company results and firmer oil prices helped European equities to rebound on Tuesday, with pulp and paper maker UPM and oil major BP climbing higher after their better-than-expected reports. UPM surged 10 percent, the biggest gain in the pan-European FTSEurofirst 300, after reporting a 34 percent rise in adjusted …

  • BP eyes more spending cuts after 80 percent profit … Reuters - Tue 26 Apr, 2016 1:23 PM IST
    A BP logo is seen at a petrol station in London

    BP said on Tuesday it could cut capital spending further after reporting an 80 percent drop in profits in the first quarter of the year, when oil prices touched a near 13-year low. The British oil company, the first major to report on one of the weakest quarters, lowered its 2016 spending target to $17 billion, from $17-19 …

  • Welspun Global Brands: A story of vision, foresight, … The Financial Express - Fri 22 Apr, 2016 8:01 PM IST
    Welspun Global Brands: A story of vision, foresight, planning and excellence

    As a $3 billion company, Welspun Group is one of India’s fastest growing conglomerates, registered at a CAGR of 30 per cent over the last decade. Welspun is a fully integrated player within the pipes, plates and coils and home textiles sector, while it also has a presence in the other business verticals such as steel, …

  • Reliance Industries Q4 results today: What to expe … The Financial Express - Fri 22 Apr, 2016 3:23 PM IST
    Reliance Industries Q4 results today: What to expect

    Reliance Industries is expected to report 23 per cent year on year (yoy) rise in net profit figures for the quarter ended March 2016, according to market experts. The oil and gas major had posted net profit of Rs 7,357 crore in the sequential quarter ended December 2015 and Rs 6,496 crore in the quarter ended March 201 …

  • Column: Taxing government services The Financial Express - Fri 22 Apr, 2016 6:20 AM IST

    With the announcement of Budget FY17, the department of revenue sought to expand the scope of taxable services in line with the proposed Goods and Services tax (GST). One such service proposed to be taxed was the services provided by the government or local authority to business entities, with effect from April 1, 2016. …

  • Oil up 4 percent on small U.S. crude build, talk of … Reuters - Thu 21 Apr, 2016 12:32 AM IST
    A man fills up his car at a petrol station in Rome

    Oil prices rose 4 percent on Wednesday after a smaller-than-expected build in U.S. crude inventories offset glut worries stirred by the end of a Kuwaiti strike, and as oil bulls bet that major crude producers would meet again to try to curtail output. Moscow, however, denied media reports that Russia planned to host such …

  • Kuwait oil, gas workers end three-day strike - local … Reuters - Wed 20 Apr, 2016 3:45 AM IST
    Kuwait Oil and Petrochemical Industries Union workers sit with their cellphones on the first day of an official strike over public sector pay reforms, in Ahmadi

    News that the strike was over came just hours after Kuwait's oil minister had ruled out negotiations with the employees until they stopped their action, while one of the union leaders said the thousands of workers would hold out until planned public sector pay cuts were cancelled. U.S. oil prices (CLc1) fell slightly after …

  • Oil rises as Kuwaiti strike cuts output for third  … Reuters - Wed 20 Apr, 2016 2:19 AM IST
    An oil-rig is pictured amongst vessels moored along a row of shipyards northwest of Waterfront City on Batam island, in Indonesia's Riau Islands Province

    Oil prices jumped more than 3 percent on Tuesday after a strike by workers in Kuwait nearly halved the OPEC member's crude production, overshadowing bearish sentiment after Sunday's failure by producers to agree to freeze output levels. Thousands of Kuwaiti oil workers remained on strike for a third day on Tuesday to protest …

  • Sushma Swaraj’s Iran & Russia visit; meet with Chinese … The Financial Express - Tue 19 Apr, 2016 3:40 PM IST
    Sushma Swaraj’s Iran & Russia visit; meet with Chinese counterpart: Three key takeaways for India

    In her four-day tour to Iran and Russia, External Affairs Minister Sushma Swaraj focused on a gamut of issues, ranging from combating terrorism to enhancing ties for India's energy security. In Moscow, she attended the Foreign Ministers meeting of RIC (Russia-India-China).

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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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