24th February 2012: Government Encourages IT Companies To Focus On Emerging Markets
The government is encouraging Indian IT companies to focus on emerging markets for steady growth in the sector, Ministry of Commerce joint secretary J K Dadoo said.
"The emerging markets offer huge potential and they are growing very fast. Indian companies, especially small and medium, should focus at new markets and emerging markets," Dadoo said.
He was speaking at Electronics and Computer Software Export Promotion Council's (ESC) curtain raiser for India Soft 2012.
He was speaking at Electronics and Computer Software Export Promotion Council's (ESC) curtain raiser for India Soft 2012.
23nd February 2012: IT Market Has Passed The Low Point: Logica
Logica , the Anglo-Dutch IT services provider hit hard by Europe's economic woes, said trading had improved since a low point in December when it warned on earnings and announced 1,300 job cuts.
Logica posted an expected 11 per cent drop in full-year profit and said that while growth in 2012 remained in doubt, it was restructuring to meet clients' cost-cutting demands.
Chief executive Andy Green said 2011 had been more difficult than he had expected. "I would say things feel a little bit better, just a touch better, now than they did in December. But the key is the huge uncertainty," he said.
Chief executive Andy Green said 2011 had been more difficult than he had expected. "I would say things feel a little bit better, just a touch better, now than they did in December. But the key is the huge uncertainty," he said.
22nd February 2012: Sbi Shares Plunge 8 Per Cent On Kingfisher Exposure Concerns.
Shares of State Bank of India plunged sharply by over 8 per cent on on concerns about its exposure to Kingfisher Airlines and reports about public sector lender giving fresh loans to the debt-ridden carrier.
Shares of Kingfisher also plunged by over six per cent on continuing financial and operational troubles at the company.
Heavy selling was witnessed in SBI shares, pulling it by 8.55 per cent to an intra-day low of Rs 2,242 at the BSE. After paring some of the losses, the stock settled 7.91 per cent lower at Rs 2,257.80.
Shares of Kingfisher also plunged by over six per cent on continuing financial and operational troubles at the company.
Heavy selling was witnessed in SBI shares, pulling it by 8.55 per cent to an intra-day low of Rs 2,242 at the BSE. After paring some of the losses, the stock settled 7.91 per cent lower at Rs 2,257.80.
21st February 2012: Us Clearly Denying Visas To Indians: Chamber Of Commerce
There has been a dramatic increase in denial of visas to Indians by the United States, according to a non partisan organization.
"It is a concern for us, but is a manageable one. Since the rejection rate is quite high in case of L1 visas than H1, it is a big concern for companies that use more of L1s. As far as Infosys is concerned, we use more H1s than L1s. Also, we have started hiring locally, and the number of workers hired every year range between 1,000 and 1500," said V Balakrishnan, CFO and Member of the Board, Infosys.
20th February 2012: Banks To Soon Decide On Kingfisher Request For Working Capital
A consortium of lenders led by State Bank of India (SBI) will soon take a call on providing the working capital to cash-strapped Kingfisher Airlines
According to sources, the airline has requested the consortium for a working capital support of Rs 200-300 Crore (Rs 2-3 billion) and individual banks are expected to take a call on this in the next few days.
Kingfisher Airlines in a statement on Saturday had said, "We have had a good meeting with our consortium of banks who have accepted, in principle, the viability study prepared by SBI Capital Markets and independent consultants.
According to sources, the airline has requested the consortium for a working capital support of Rs 200-300 Crore (Rs 2-3 billion) and individual banks are expected to take a call on this in the next few days.
Kingfisher Airlines in a statement on Saturday had said, "We have had a good meeting with our consortium of banks who have accepted, in principle, the viability study prepared by SBI Capital Markets and independent consultants.
19 Feb, 2012: “$26 Bn Invested By India Inc In Us In 5 Years“: Nirupama Rao
Indian companies are now contributing strongly to local State economies in the US with a presence in 43 states and having invested over $26 billion in the last five years in several key areas of the economy.
Indian IT companies employ over 100,000 people in the US and the Indian IT industry supports over 280,000 jobs indirectly out of which about 200,000 are with US residents.
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