IT/ITes

  • A salesman uses his iPhone at a mobile phone store in New Delhi

    India will consider Apple's request for incentives to invest in the country with an "open mind", Information Technology Minister Ravi Shankar Prasad told reporters on Wednesday. "We will very much like Apple to come and have a base in India," Prasad said. Apple has sent a list of demands to the Indian government, seeking …

  • General Motors Co (GM.N) on Tuesday confirmed it will invest an additional $1 billion in its U.S. factories in 2017 and will move some parts production from Mexico to the United States that was previously handled by a supplier. The investments are in addition to the $2.9 billion the automaker announced last year, GM said. …

  • General Motors says to invest additional $1 billion … Reuters - Tue 17 Jan, 2017 11:46 PM IST
    The GM logo is seen at the General Motors Warren Transmission Operations Plant in Warren, Michigan

    General Motors Co (GM.N) on Tuesday confirmed it will invest an additional $1 billion in its U.S. factories in 2017 and will move some parts production from Mexico to the United States that was previously handled by a supplier. The investments are in addition to the $2.9 billion the automaker announced last year, GM said. …

  • Mumbai, Jan 16 (IANS) The Indian equities markets on Monday closed on a flat-to-positive note as hopes of healthy third-quarter (Q3) results and a strengthened rupee buoyed investors' sentiments. Besides, ...

  • Sensex, Nifty end slightly higher; IT stocks fall Reuters - Mon 16 Jan, 2017 4:02 PM IST
    A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai

    Indian shares ended marginally higher on Monday as gains in financials on positive corporate results offset losses in IT stocks that were down on weak sentiment after software services exporter Infosys ...

  • As its boss moves to Tata HQ, investors fret over TCS … Reuters - Sun 15 Jan, 2017 7:12 PM IST

    Moving the head of Tata Consultancy Services to the top job at Tata group's holding company fills a critical hole for the salt-to-software conglomerate, but it leaves another at its most valuable company ahead of a complex and unpredictable 2017. The promotion of Tata veteran Natarajan Chandrasekaran - the well-regarded, …

  • Automation has disrupted hiring at Infosys: Sikka IANS - Fri 13 Jan, 2017 8:06 PM IST

    Bengaluru, Jan 13 (IANS) For the first time in many quarters, global software major Infosys hired less techies and added lesser during the third quarter (October-December) of fiscal 2016-17, thanks to disruptive automation. "Automation has slowed down the number of people we have in the third quarter (Q3). Clarifying …

  • Infosys lowers guidance again as Q3 revenue dips IANS - Fri 13 Jan, 2017 7:18 PM IST

    Bengaluru, Jan 13 (IANS) Software major Infosys on Friday lowered dollar guidance again for the fiscal 2016-17 on declining revenue in the third quarter (October-December) unlike its peer TCS, which posted ...

  • Mumbai, Jan 13 (IANS) Profit booking, coupled with a depreciating rupee and disappointing earnings guidance from an IT major, dragged the Indian equities markets lower on Friday. Besides, broadly mixed ...

  • Infosys trims revenue outlook as outsourcers brace … Reuters - Fri 13 Jan, 2017 6:33 PM IST
    FILE PHOTO - An employee walks past a signage board in the Infosys campus at the Electronics City IT district in Bengaluru

    MUMBAI/BENGALURU (Reuters) - Infosys Ltd, India's second-biggest software services exporter, pared its full-year revenue growth outlook as it fights uncertainties in its biggest markets that could curb client spending on technology. Infosys and its rivals in India's $150 billion software services sector have struggled …

  • Sensex, Nifty end lower as IT stocks falter; post 3rd … Reuters - Fri 13 Jan, 2017 4:17 PM IST
    A broker trades on his computer terminal at a stock brokerage firm in Mumbai

    REUTERS - Indian shares ended slightly lower on Friday, reversing three straight sessions of gains, as Tata Consultancy Services Ltd slumped on worries about its future following key management changes, ...

  • Bengaluru, Jan 13 (IANS) IT major Infosys CEO Vishal Sikka on Friday said the company is looking at increased local hiring in the long term and will aim for a blend of global talent. "In the long term and deeper shift, we are working towards much more local hiring, much more local talent," Sikka told BTVi in an interview. …

  • Bengaluru, Jan 13 (IANS) Software major Infosys on Friday lowered dollar guidance again for the fiscal 2016-17 on declining revenue in the third quarter (October-December) unlike its peer TCS, which posted ...

  • Tata Sons chairman-designate Natarajan Chandrasekaran poses after a news conference in Mumbai

    MUMBAI/GANDHINAGAR, India (Reuters) - A three-decade veteran of the Tata conglomerate and front-runner for the top job since the day his predecessor was ousted, Natarajan Chandrasekaran is one of the group's most highly regarded executives and the man behind its best-performing unit. A former Tata intern, Chandrasekaran, …

  • Mumbai, Jan 12 (IANS) India Inc. on Thursday welcomed the appointment of Natarajan Chandrasekaran as the new Executive Chairman of Tata Sons. Chandrasekaran, 53, has spent some 30 years in the Tata group and is the first non-Parsi to head the $103-billion global empire with a 148-year history.

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Oil & Gas

  • Chinese President Xi attends the WEF annual meeting in Davos

    BEIJING/SHANGHAI (Reuters) - Beijing has some way to go to convince foreign businesses that it is serious about liberalising China's economy, despite President Xi Jinping's speech at Davos on Tuesday and new proposals to relax restrictions on foreign investment. Xi made a vigorous defence of globalisation at the World …

  • Oil down on output cut doubts, expected U.S. production … Reuters - Mon 16 Jan, 2017 10:00 PM IST
    File Photo: Pipelines run to Enbridge Inc.'s crude oil storage tanks at their tank farm in Cushing

    Oil prices were down on Monday due to doubts that large crude producers will reduce production as promised and on expectations that U.S. production would increase again this year. The Organization of the Petroleum Exporting Countries (OPEC) has agreed to cut production by 1.2 million barrels per day (bpd) to 32.5 million …

  • Reliance expects sharp rise in operating profit from … Reuters - Mon 16 Jan, 2017 9:00 PM IST
    A man walks past an advertisement of Reliance Industries Limited at a construction site in Mumbai

    Indian oil-to-telecoms conglomerate Reliance Industries Ltd expects a sharp rise in operating profit from the next financial year as it completes an expansion of its core refining and petrochemicals business, a senior executive said on Monday. Reliance, controlled by India's richest man Mukesh Ambani, on Monday reported …

  • Labourers work behind an advertisement of Reliance Industries Limited at a construction site in Mumbai

    India's oil-to-telecoms conglomerate Reliance Industries Ltd beat analysts' estimates to post a 10 percent increase in third-quarter standalone net profit, as high margins from its core business of crude oil refining helped bolster earnings. The "standalone" profit and revenue figures include the company's refining and …

  • India's diesel demand to drop in first quarter Reuters - Wed 11 Jan, 2017 4:55 PM IST

    Diesel demand in India might drop in the first quarter as a government decision to abolish high-value currency bills is expected to hurt small businesses, analysts said. Diesel demand is expected to grow only 2 percent in the first quarter of 2017 compared with a year ago, less than half of the 5-percent growth rate seen …

  • Ahmedabad, Jan 10 (IANS) In a reflection of the importance that Saudi Arabia attaches to enhancing business ties with India, a high-level delegation from the Gulf kingdom, one of the world's richest nations, ...

  • Russia cuts oil output by 100,000 bpd in early Jan … Reuters - Mon 9 Jan, 2017 3:36 PM IST
    Worker checks valve of oil pipe at oil field owned by Bashneft company near Nikolo-Berezovka

    Russia cut its oil production in early January by around 100,000 barrels per day (bpd) from the previous month after an agreement with OPEC to cap global crude output, two sources from the energy sector told Reuters on Monday. Russia's oil and gas condensate output averaged 11.1 million barrels per day (bpd) in the period …

  • China extends tax waivers for oil, gas drilling eq … Reuters - Fri 6 Jan, 2017 3:24 PM IST
    An off-shore oil drilling platform is seen under construction at a plant in Qingdao

    China is extending tax waivers for importing key drilling and production equipment for both onshore and offshore oil and gas development, the Ministry of Finance said on Friday. The waivers for both import tariffs and value-added tax apply for the period between Jan. 1, 2016, and the end of 2020, the ministry said on its …

  • Govt officials seek zero import tax on LNG in Budget … Reuters - Thu 5 Jan, 2017 6:59 PM IST

    India's energy and environment ministries want the government to scrap an import tax on liquefied natural gas (LNG) and impose a levy on use of pet coke and furnace oil to promote cleaner fuel, they said in a presentation to Prime Minister Narendra Modi. India is the world's third largest emitter of greenhouse gases and …

  • Japan's Inpex Corp is in the running to develop a major oilfield in Iran, Kyodo News reported on Wednesday, as Tehran looks to aggressively ramp up crude output following the lifting of sanctions. Japan's ...

  • A worker shelters from the rain as he passes the London Stock Exchange in the City of London

    Britain's top share index hit a further record high on Tuesday, extending an end-of-year rally into 2017, with financials and commodities-related stocks leading the market upwards. The FTSE 100 ended 0.5 percent higher at 7,177.89 points as the London Stock Exchange reopened after a long weekend. The index ended 14.4 …

  • Iran certifies 29 international companies to bid for … Reuters - Mon 2 Jan, 2017 9:09 PM IST
    FILE PHOTO: Iran's national flags are seen on a square in Tehran

    Iran has named 29 companies from more than a dozen countries as being allowed to bid for oil and gas projects using the new, less restrictive Iran Petroleum Contract (IPC) model, the oil ministry news website SHANA reported on Monday. Iran hopes its new IPC, part of an effort to sweeten the terms it offers on oil development …

  • Brazil's president to pursue tax reform in 2017 Reuters - Fri 30 Dec, 2016 5:40 AM IST

    Brazil will seek to simplify its tax code in 2017, President Michel Temer said on Thursday, aiming to broaden his business-friendly reform agenda following proposals to modify the pension system and labour laws. A government source familiar with the matter told Reuters the reform could include streamlining the tax regime …

  • Brazil's president to pursue tax reform in 2017 Reuters - Fri 30 Dec, 2016 4:20 AM IST

    Brazil will seek to simplify its tax code in 2017, President Michel Temer said on Thursday, aiming to expand business-friendly reforms following proposals to modify the pension system and labour laws. Since taking office after the ouster of his leftist predecessor Dilma Rousseff, Temer has pledged to pursue structural …

  • Russian finance minister calls oil price of $45 'b … Reuters - Wed 28 Dec, 2016 11:33 PM IST

    Russian Finance Minister Anton Siluanov on Wednesday said a price of $45 per barrel of oil was "balanced" for both suppliers and consumers. In an interview with the Rossiya-24 state TV channel, ...

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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 ...

  • 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. ...

  • 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 ...

  • 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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