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Infosys Q1 Net Profit Up 5% At Rs 3,030 Crore, Shares Rise

Infosys Q1 Net Profit Up 5% At Rs 3,030 Crore, Shares Rise

NEW DELHI – IT major Infosys, India’s second-largest software services exporter, reported on Tuesday a 5% increase in quarterly net profit, bolstered by a surge in demand for IT outsourcing services from clients in the United States, its biggest market.
The results are ahead of market expectations and approve of the growth strategy adopted by Vishal [...]

July 25th, 2015 | Posted in Business | Read More »

Drug Exports From India To Have Embedded Tracking Chips

Drug Exports From India To Have Embedded Tracking Chips

NEW YORK – First it was bar-codes. Now, medicine shipments out of the country will bear the track and trace technology.
A series of quality lapses by Indian drug makers, which have been under fire in the US and Europe for poor standards at factories and spurious drugs, is causing anxiety in the ministry of commerce [...]

July 25th, 2015 | Posted in Business | Read More »

India Among 13 Countries To Host Windows 10 Launch

India Among 13 Countries To Host Windows 10 Launch

NEW DELHI -  India will be one of the 13 countries to host the mega launch of the much-awaited Windows 10, the latest version of the popular operating system, by global giant Microsoft on July 29.
Microsoft is hosting events across 13 global cities, including New Delhi, to launch the latest edition of its operating system.
“We [...]

July 18th, 2015 | Posted in Business | Read More »

Teamwork a handicap for most Indian executives: Study

Teamwork a handicap for most Indian executives: Study

MUMBAI – Indian executives in global roles may be rising up the hierarchy based on their intellectual flexibility and strategic thinking, but they have been found to be weak at teamwork.
In a global survey by YSC, only 17% of Indian executives had a strength in teamwork compared to 30% of Chinese and 28% of Americans, [...]

July 18th, 2015 | Posted in Business | Read More »

Mobile Phone Industry Contributes $1.1 Trillion To Asia Pacific Economy: Study

Mobile Phone Industry Contributes $1.1 Trillion To Asia Pacific Economy: Study

SHANGHAI – The mobile industry in Asia Pacific contributes more than $1 trillion per year to the region’s economy, fuelled by rising mobile broadband and smartphone penetration, a new report by GSMA said.
GSMA is an association of mobile operators and related companies devoted to supporting the standardising, deployment and promotion of the GSM mobile telephone [...]

July 18th, 2015 | Posted in Business | Read More »

India Likely To Sign US Tax Compliance Law FATCA On Thursday

India Likely To Sign US Tax Compliance Law FATCA On Thursday

NEW DELHI – India is likely to sign the inter-governmental pact for the US tax compliance law FATCA on Thursday, a move that will help it fight tax evasion.
Foreign Account Tax Compliance Act (FATCA) is aimed at combating possible tax evasion by Americans through financial entities of other countries.
The pact is likely to be signed [...]

July 17th, 2015 | Posted in Business | Read More »

Uber To Set Up Its Biggest Global Office In Hyderabad

Uber To Set Up Its Biggest Global Office In Hyderabad

HYDERABAD – Taxi-hailing app Uber will invest $50 million in Hyderabad over the next five years to establish a facility that will house hundreds of its employees and would be its biggest international office.
The U.S.-based company signed an agreement with Telangana government for setting up of the “state-of-the-art facility” as it is ramping up India [...]

July 17th, 2015 | Posted in Business | Read More »

U.S. Supports Modi Government’s Pro-Business Reforms, Says Official

U.S. Supports Modi Government’s Pro-Business Reforms, Says Official

WASHINGTON – The U.S. supports the “pro-business reforms” of the Modi Government but at the same time remains concerned about difficulties caused to non-governmental organisations, a top State Department official has said.
“I would say, speaking generally, we’re supportive. I can say Prime Minister (Narendra) Modi’s pro-business reforms, including his commitment to fighting corruption as well [...]

July 17th, 2015 | Posted in Business | Read More »

U.S. Supports Modi Government’s Pro-Business Reforms, Says Official

U.S. Supports Modi Government’s Pro-Business Reforms, Says Official

WASHINGTON – The U.S. supports the “pro-business reforms” of the Modi Government but at the same time remains concerned about difficulties caused to non-governmental organisations, a top State Department official has said.
“I would say, speaking generally, we’re supportive. I can say Prime Minister (Narendra) Modi’s pro-business reforms, including his commitment to fighting corruption as well [...]

July 4th, 2015 | Posted in Business | Read More »

Greece Misses $1.8 Billion Payment, Becomes First Advanced Economy To Default On IMF Loan

Greece Misses $1.8 Billion Payment, Becomes First Advanced Economy To Default On IMF Loan

ATHENS – Greece slipped deeper into its financial abyss after the bailout program it has relied on for five years expired at midnight Tuesday and the country failed to repay a loan due to the International Monetary Fund.
With its failure to repay the roughly 1.6 billion euros ($1.8 billion) to the IMF, Greece became the [...]

July 4th, 2015 | Posted in Business | Read More »