Friday, March 23, 2012: Indian IT industry paid $15 bn in taxes to US govt in 5 years: NASSCOM
Indian IT sector has paid over USD 15 billion in taxes to US Treasury over a period of five years and created over 2.8 lakh employment opportunities.
"Indian technology firms are deeply committed to the US marketplace. Both they and their employees are important contributors in their local communities as well as the country as a whole," NASSCOM President Som Mittal said in a statement.
The report 'India's Tech Industry in the US' said that Indian technology industry has paid more than USD 15 billion in taxes to the US Treasury in the last five years thereby aiding economic recovery in the US.
Thursday, March 22, 2012: Aegis Expands Call Centre Operations In Costa
Aegis expanded its business in Costa Rica by opening a call centre that cans accommodate 900 professionals.
"Costa Rica has played a vital part of our success. Aegis began operations in Costa Rica in 2006 and today we have nearly 900 employees," Aegis President for Global Customer Lifecycle Management Sandip Sen said in a statement.
"Costa Rica has played a vital part of our success. Aegis began operations in Costa Rica in 2006 and today we have nearly 900 employees," Aegis President for Global Customer Lifecycle Management Sandip Sen said in a statement.
The new facility is located in the Rohrmoser section of San Jose and it will be a blend of additional capacity and reduced costs, the statement said.
Wednesday, March 21, 2012: GE to acquire Advanced Systek
US-based conglomerate GE said it would acquire majority stake in Vadodara-based Advanced Systek Ltd.
"GE has agreed to acquire a majority stake in the Vadodara-based Advanced Systek Private Limited, suppliers of terminal automation systems and flow metering solutions," an official statement said.
Advanced Systek offers its midstream and upstream oil and gas industry customers total terminal management and flow metering solutions, including design, engineering, supply, installation, commissioning and maintenance.
Tuesday, March 20, 2012: Psu Employee's Annual Pay Rises To Rs 6.6 Lakh In Fy11
The annual pay of a PSU employee on an average increased by 13.7 per cent to Rs 6.6 lakh in 2010-11, the Public Enterprises Survey for 2010-11 has revealed.
According to the survey tabled in Parliament the per capita emoluments of state-owned units' employees increased to Rs 6.6 lakh in 2010-11 from Rs 5.8 lakh in the previous fiscal.
Despite the increased payouts, the profit-making Central Public Sector Enterprises (CPSEs) managed to increase their net profits by 4.92 per cent to Rs 1.13 lakh crore in the fiscal, compared to Rs 1.08 lakh crore in 2009-10, it said.
Monday, March 19TH 2012:‘Present situation not right for rate cut', HDFC BANK
The second largest private sector lender HDFC Bank has said the present situation is not conducive for rate cuts but further reduction in Cash Reserve Ratio (CRR) could lead to lower interest rates.
"As far as reduction in interest rate is concerned, if there are more CRR cuts, it will happen. Because, given the inflationary environment, we can't reduce the deposit. Also, the call rates are high due to shortage of liquidity," managing director and chief executive Aditya Puri said.
He also said if the RBI cuts the cash reserve ratio by another 1 percentage point in next one month, banks will start slashing their base rates. "In my opinion, if the RBI cuts CRR by 100 bps...the banking system on its own will reduce interest rates. So, CRR is more important at this point of time than policy rate cuts."
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