Business

Indian IT companies got over 5,000 fewer H-1B visas in 2016: Report

Top seven India-based outsourcing companies in the US received fewer H-1B visas in 2016 as compared to 2015, and....

Note ban hit high-end housing but low-cost homes gain: National Housing Bank chief

The government’s demonetisation drive in November last year slowed India’s fast-growing real estate...

No downturn in IT sector, reports are wrong, jobs will come: Ravi Shankar Prasad

Union minister Ravi Shankar Prasad on Sunday dismissed the reports of a downturn in the Indian IT sector...

Reports of job losses overstated, to hire 20K this yr: Infosys

June 3: IT services major Infosys today said it will hire 20,000 people this year as against only 400 people being asked to leave on performance grounds and termed reports of large-scale job losses as "overstated".

Economic turnaround in Q1 itself: Panagariya

June 3: Seeking to allay fears of a slowdown, NITI Ayog vice chairman Arvind Pangariya on Friday said that the economy would turnaround during the April-June quarter itself and India could be back on the 8% growth track by 2019.

RCom gets 7-month reprieve to repay debt burden

June 3: In a big relief to the debt-ridden Reliance Communications (RCom), bankers have agreed to pause debt repayments from the company for seven months till December 2017, under the RBI’s Strategic Debt Restructuring (SDR) plan.

Mercedes strengthens E-Class range in India with new E 220 d

June 3: German luxury car maker Mercedes-Benz on Friday added yet another luxury sedan to its E-Class portfolio in India, when it drove in the first long wheelbase right-hand drive E-Class 220 d.

Sebi forms corporate governance committee

June 3: Market regulator Securities and Exchange Board of India (Sebi) has set up a committee under the chairmanship of Kotak Mahindra Bank executive vice chairman and managing director Uday Kotak to advise on issues relating to corporate governance.

The move will cut company’s debt by 60%

June 3: Looking to allay fears of a slowdown, Niti Aayog vice chairman Arvind Pangariya on Friday said the economy would turnaround during the April-June quarter itself, and India could be back on the 8% growth track by 2019.

Avaya sells networking business to Extreme Networks for $100 m

June 3: Avaya, the US-headquartered communications solutions provider, on Friday confirmed that it has exited the networking business by selling it to Extreme Networks for around $100 million. Avaya has a sizeable presence in India.

Essar Projects commissions 4 offshore platforms for ONGC

June 3:Essar Projects India (EPIL), an engineering, procurement and construction (EPC) contractor, has announced the successful commissioning of four offshore well platforms for its client ONGC.

Markets hit new closing highs

June 3: Aided by positive global cues and hopes of a likely rate cut by the Reserve Bank of India in its policy review next week, bulls staged a comeback and helped Indian markets scale new highs once again.

SBI to fund 100 MW rooftop solar projects

June 3: State Bank of India (SBI) on Friday announced financing of 100 MW rooftop solar projects worth Rs 400 crore for private developers under a World Bank programme.

BEL plans R&D spend of Rs 2,500 crore

June 1: Public sector defence major Bharat Electronics (BEL) has drawn up an ambitious three-year R&D roadmap for 2017-20.

Flipkart’s chief operating officer Nitin Seth resigns

June 1: India’s largest online marketplace Flipkart has seen yet another top level exit. Its chief operating officer Nitin Seth has put in papers as the company is gearing up for an overhaul in its business activities.

Moody’s pegs economic growth at 7.5% in FY18

June 1: India’s economic growth will accelerate to 7.5% in current fiscal and the government’s reform push will help achieve 8% GDP growth rate in about four years, Moody’s said on Thursday.

Kingfisher House auction fails for 5th time

June 1: It was fifth time unlucky for banks as they failed to find a buyer for the Kingfisher House owned by Vijay Mallya in Mumbai despite lowering the reserve price.

USL reports net loss of Rs 104 crore in Q4

June 1: India’s largest producer of alcoholic beverages United Spirits (USL) has reported a standalone net loss of Rs 104.2 crore for the quarter ended March 31, 2017

’Govt working to tackle telecom industry debt’

June 1: Acknowledging the huge debt piling on in the telecom sector, Union Telecom Minister Manoj Sinha has said that the government is working towards addressing the issue.

GDP growth slows to 7.1 pc in year of demonetisation

June 1: India’s economic growth slowed to 7.1 per cent in 2016-17, the year in which 87 per cent of the currency was demonetised, despite a very good showing by the agricultural sector.

Sebi proposes to regulate index providers of Sensex, Nifty

June 1: Markets regulator Sebi today proposed new norms to regulate index providers — entities which design and develop benchmark indices such as Sensex and Nifty.

Uber head of finance leaving as company narrows losses

June 1: Uber confirmed today that the company’s head of finance is leaving, just after the on-demand ride service trimmed its quarterly loss to USD 708 million on rising revenue.

Sensex down 75 points on weak macroeconomic data

June 1: The BSE Sensex fell over 75 points to 31,070 and the Nifty slipped below 9,600-mark in early trade today as participants trimmed their positions, triggered by lower GDP numbers and core infrastructure sectors growth.

GST rate on gold may be fixed at 5%

May 29: The GST Council may settle for a 5% tax on gold, a keenly awaited item for discussion in the June 3 meeting, which perhaps will be the last for fitment of rates.

Process begins for finding new State Bank chief

May 29: The Finance Ministry has initiated the process to find the new chief of the country’s largest lender State Bank of India (SBI) as Arundhati Bhattacharya’s extended term comes to an end on October 6.

Commerce Ministry can grant licences for defence

May 29: Private sector players can now apply to the Commerce Ministry for licences to manufacture tanks, fighter planes, warships and other defence equipment, a step which the government feels will promote ease of doing business .

IOC is India’s most profitable PSU

May 29: The Indian Oil Corporation (IOC) has overtaken the Oil and Natural Gas Corporation (ONGC) to become the country’s most profitable state-owned company.

DBT scheme has resulted in Rs 50k cr savings: Shah

May 29: The direct benefit transfer (DBT) programme has resulted in Rs 50,000 crore savings for the government in the last three years as funds were directly transferred to 32 crore needy people, BJP President Amit Shah has said.

Sensex slips from record on profit-booking

May 29: Stock markets came off their peak and turned weak today after two back-to-back sessions of gains as the benchmark Sensex cracked below 31,000-mark after investors indulged in profit-booking.

Bosch reports 10.22% dip in standalone net profit

May 26: Leading global supplier of technology and services Bosch on Thursday reported a 10.22% decline in standalone net profit at Rs 440.47 crore for the fourth quarter ended March 31, 2017, compared with Rs 490.60 crore in the same period last fiscal.

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