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Indo-British Tycoon To Restart Steelworks Bought From Caparo

Indo-British Tycoon To Restart Steelworks Bought From Caparo

LONDON – Indo-British businessman Sanjeev Gupta’s Liberty House announced that it would be restarting from next month steelworks in south Wales which it had acquired from NRI industrialist Lord Swraj Paul’s Caparo Group last year.
The firm, also at the forefront of a bid to acquire Tata Steel’s UK assets, said it will commence steel pipe [...]

May 21st, 2016 | Posted in Business | Read More »

Ratan Tata Invests In US-Based Emergency Response Startup MUrgency

Ratan Tata Invests In US-Based Emergency Response Startup MUrgency

SAN FRANCISCO – Ratan Tata, Chairman Emeritus of Tata Sons, has invested in the San Francisco-based medical emergency response startup, MUrgency Inc.
The financial details of the deal have not been disclosed.
“He (Tata) clearly wanted us to launch and grow the network in India first before taking it overseas. Mr Tata’s investment in MUrgency will help [...]

May 21st, 2016 | Posted in Business | Read More »

Gender Pay Gap In India Stands At 27%, Says Monster Salary Index

Gender Pay Gap In India Stands At 27%, Says Monster Salary Index

MUMBAI – There exists a gender pay gap of 27% in India, where men earned a median gross hourly salary of Rs 288.68, whereas women earned only a median gross salary of Rs 207.85 per hour, as per a Monster India report.
According to the latest ‘Monster Salary Index’ (MSI), the highest gender pay gap was [...]

May 21st, 2016 | Posted in Business | Read More »

IMF Says Bribery Eats Up 2% Of Global Economy

IMF Says Bribery Eats Up 2% Of Global Economy

WASHINGTON – The International Monetary Fund said Wednesday that bribery sucks up between $1.5 and $2.0 trillion dollars annually around the world, dragging down economies and worsening social services for the poor.
In a new report on the economic impact of corruption, the IMF said that bribery, graft and other cheating common in both rich and [...]

May 14th, 2016 | Posted in Business | Read More »

Foreign Banks Not Expanding Due To India’s Riskier Rating, Says Rajan

Foreign Banks Not Expanding Due To India’s Riskier Rating, Says Rajan

LONDON – Foreign banks have stopped opening branches in India as they need to set aside a lot more capital due to the country’s “higher risk” credit rating and they feel it is “not worth” doing so, Reserve Bank Governor Raghuram Rajan has said.
In a lecture titled “Why Banks?” – as part of the Marshall [...]

May 14th, 2016 | Posted in Business | Read More »

Fake Indian Currency With Face Value Of Rs 400 Crore In Circulation

Fake Indian Currency With Face Value Of Rs 400 Crore In Circulation

NEW DELHI – 250 in every 10 lakh notes in circulation in India are fake and Rs 400 crore worth of such fake currency is in circulation in the country at any given point of time. The first ever study of counterfeit currency has unearthed fake Indian currency notes (FICN) worth Rs 70 crore are [...]

May 14th, 2016 | Posted in Business | Read More »

Sanjeev Gupta’s Firm Liberty House Confirms Bid For Tata Steel In UK

Sanjeev Gupta’s Firm Liberty House Confirms Bid For Tata Steel In UK

LONDON – Indian-origin businessman Sanjeev Gupta’s Liberty Housegroup has confirmed that it will be submitting its bid for Tata Steel’s loss-making UK businesses by tomorrow, according to a media report.
The commodities trading firm, which emerged as an early front-runner for Wales-based Port Talbot steelworks, had said last week that its team was evaluating the bid.
“We [...]

May 8th, 2016 | Posted in Business | Read More »

India Ready To Clear $6.5 Billion Of Iran’s Oil Dues

India Ready To Clear $6.5 Billion Of Iran’s Oil Dues

NEW DELHI – Keen to step up engagement in the hydrocarbon sector with Iran, India has conveyed to the Persian Gulf nation that it was ready to clear nearly $6.5 billion of the dues for oil import from that country at the earliest, provided there was clarity on payment channel.
The message has been conveyed to [...]

May 8th, 2016 | Posted in Business | Read More »

Large Indian IT Companies Involved In Making Large Deals by Huge Bids

Large Indian IT Companies Involved In Making Large Deals by Huge Bids

BENGALURU – IT firms are always in race to acquire large deals to generate revenue and to survive in cut throat competition. In fact, Indian outsourcing giants such as Infosys and Wipro are in competition to grab large deals to make large payment; source Businessinsider.in.
“There are different kinds of deal structuring that takes place – [...]

May 8th, 2016 | Posted in Business | Read More »

Indian Firms Focus More On Digital Investments: Survey

Indian Firms Focus More On Digital Investments: Survey

BENGALURU – According to the survey conducted by PwC digital IQ, Indian firms are showing high concentration on digital investments in marketing and IT when compared to their global counterparts, but low on operations and customer experience, reports BI.
“Thirty six percent of Indian companies are focusing digital investments on marketing versus 27 percent globally while [...]

May 2nd, 2016 | Posted in Business | Read More »