Economy

E-procurement pioneer Kobster drives efficiencies in B2B segment

Can efficiencies in the procurement of items as mundane as office stationery, pantry items and cleaning supplies, help corporates in a significant way? Yes, says Chennai-based B2B e-procurement platform Kobster Eshop. It cites a case study related to Kobster’s work with Urban Ladder. Kobster says Urban Ladder had a procurement model which consisted of 12 …

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Sify Technologies net profit up 25%

Sify Technologies’ net profit increased by 25 per cent to Rs 25.3 crore in July-September 2018 compared with Rs 20.3 crore in the same quarter a year ago. The company’s revenue increased by around 14 per cent to Rs 551 crore during the quarter from Rs 484 crore in the corresponding period of 2017-18. “The …

Sify Technologies net profit up 25%Read More »

Tejas Networks bags ₹111-cr order from Sterlite Tech

Bengaluru-based Tejas Networks has bagged an order of ₹111 crore from Sterlite Technologies to roll out the Indian Navy’s communication network. As a part of the deal, Tejas Networks will supply DWDM systems and Ethernet switches, for this pan-India network rollout, the company said in a statement. The Navy’s communication network is being built for …

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MakeMyTrip partners with Best Western Hotels & Resorts

Online travel firm MakeMyTrip Monday said it has signed a global partnership agreement with Best Western Hotels & Resorts as India’s outbound travel gathers pace. Under the partnership, Best Western Hotels & Resorts will enter the online distribution partnership for its global properties with MakeMyTrip, the company said in a statement. MakeMyTrip, however, did not …

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Telcos teaming up to give you ‘relay Wi-Fi’ cover

Telecom operators, including Airtel, Vodafone-Idea, Reliance Jio and Bharat Sanchar Nigam Ltd, are setting up an interoperable Wi-Fi network across the country. This will allow users to hop from one Wi-Fi network to another seamlessly, irrespective of who their mobile operator is. For example, an Airtel user can walk into a Wi-Fi zone operated by …

Telcos teaming up to give you ‘relay Wi-Fi’ coverRead More »

India to establish a technology demo centre in Tanzania

India will set up a Technology Demonstration Centre (TDC) in the United Republic of Tanzania with the intent to promote relevant technologies. To facilitate this, a Memorandum of Understanding was signed recently between the National Research Development Corporation (NRDC) and the Tanzania Industrial Research and Development Corporation (TIRDO). The event took place in the Tanzanian …

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Massive outflow of foreign funds alarming, say analysts

Analysts opined that outflows show a shift in the investment pattern from emerging economies to stable and high return assets like US securities. The rupee and the US dollar equation along with an uncertain domestic and global economic growth outlook has triggered a massive foreign fund outflow from the country’s capital market segment. “The outflow …

Massive outflow of foreign funds alarming, say analystsRead More »

Mphasis Q2 net up 37% to Rs 271 cr

Mphasis on Friday reported 37 per cent jump in consolidated net profit at Rs 271 crore for the quarter ended on September 30, 2018, compared to the year-ago quarter. The company had registered a net profit of Rs 197.6 crore in the year-ago period, it said in a statement. Total income of Mphasis increased by …

Mphasis Q2 net up 37% to Rs 271 crRead More »

NDTV receives court notice on defamation suit filed by Reliance Infra & others

The New Delhi Television Ltd (NDTV) on Friday informed the exchanges that it has received a notice from Ahmedabad City Civil Court with regard to a suit for defamation instituted by Reliance Infrastructure Limited & others, against the Company, Executive Co-Chairperson and Managing Editor, of the Company, claiming damages of Rs 10,000 crores. “The suit …

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No threat of discontinuation of mobile nos issued using Aadhaar: Govt

The government on Thursday said there is no threat of discontinuation of mobile numbers issued using Aadhaar, following the Supreme Court ruling that barred use of the national biometric ID by private companies. Debunking reports that over 50 crore, or half of the mobile SIMs in the country, faced deactivation, the Department of Telecommunication and …

No threat of discontinuation of mobile nos issued using Aadhaar: GovtRead More »

Trump administration to propose major changes in H-1B visas

The Trump administration has said it is coming out with new proposals to not only revise the definition of speciality occupations under H-1B visas, but also the definition of employment under this foreign work visa category which is popular among Indian companies. Such a move, which is part of the Unified Fall Agenda of the …

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Telcos to give 30 day notice to customers before closing service: Telecom Commission

The government has decided to make it mandatory for telecom service providers to give at least 30 days advance notice to subscribers before shutting down their services, a top government official said. The development has come against the background of abrupt closure of services by some telecom operators recently which left their subscribers in lurch. …

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DoT promises a smooth KYC reverification process

Following the Supreme Court order on Aadhaar, the Department of Telecom will ensure that the reverification of KYC is smooth for mobile customers who have demanded deletion of their Aadhaar details from their service providers’ servers. The Supreme Court had in its decision on September 26, barred private companies from seeking Aadhaar-based authentication, saying it …

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VMWare plans to invest $2 bn in India

Dell’s largest and fastest growing subsidiary VMWare, is set to invest $2 billion in India to boost its R&D and employee strength over the next five years. VMWare, which already has over 5,000 employees in Bengaluru and Pune, plans to expand its base. The company aims to tap both the Indian talent as well as …

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Netflix record subscriber growth dispels Wall St worries

Netflix Inc hooked 7 million new streaming subscribers from July to September, a third more than Wall Street had expected, reassuring investors who had worried the company was facing a slowdown in its fast-paced growth. The record number of additions in the third quarter brought Netflix’s customer base to 137 million worldwide, confirming its rank …

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Key verticals, digital business deliver the goods for Infosys

Infosys managed to match TCS in revenue growth and also in terms of recording significant traction in key verticals such as financial services and retail in the seasonally strong second quarter of the current fiscal. But in several important parameters such as operating margin, attrition, and addition of large-sized clients, Infosys has fallen behind TCS. …

Key verticals, digital business deliver the goods for InfosysRead More »

L&T Infotech, PTC unveil IoT center of excellence in Bengaluru

IT services company Larsen & Toubro Infotech Tuesday said it has launched a centre of excellence (CoE) in Bengaluru, in alliance with US-based PTC Inc, that will design, build and showcase solutions for smart and connected enterprises. “The CoE will focus specifically on Industry 4.0 solutions in Manufacturing and Oil & Gas sectors,” Larsen & …

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China develops nanogenerator to power wearable electronics

Chinese scientists have developed a new nanogenerator that can harvest energy from human motions to continuously power wearable electronic devices, state-run media reported Tuesday. Scientists at Zhengzhou University have developed a washable and wearable nanogenerator based on hydrophobic nanofiber. It has a woven structure and can be attached to clothes to convert the mechanical energy …

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HP launches ENVY range of laptops

HP Inc is expanding its premium portfolio with the launch of HP ENVY x360 in two variants priced at Rs 60,990 and Rs 74,990. The laptop will be available across 575 HP world stores, HPShopping.in and also leading e-commerce players from next month. According to a market research report, HP is a leader in the …

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4 start-ups shortlisted for Otis innovation challenge

Four start-ups – Graymatics, Visio Ingenii, Deep Vision AI and Orbo AI – have showcased their products and solutions to top officials of Otis executives at the Demo Day held at T-Hub, a tech start-up incubator. The Demo Day was held at the end of the six-week Innovation Challenge conducted by elevators and escalators firm …

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Cyber security awareness month gaining attention

In the United States, cyber security experts and other stakeholders observe October as the National Cyber Security Awareness Month (NCSAM). The 15-year-old practice is now attracting the attention of the cyber security ecosystem across the world. Sophos, an Internet security solutions firm, feels that it’s time the cyber security stakeholders need to spread the word …

Cyber security awareness month gaining attentionRead More »

Microsoft co-founder Paul Allen dies

Microsoft Corp co-founder Paul Allen, who had been suffering from non-Hodgkin’s lymphoma, a form of cancer, passed away at the age of 65 on Monday, his family said. Allen had said earlier this month that he had started treatment for non-Hodgkin’s lymphoma, the same type of cancer he overcame nine years ago. Born in Seattle, …

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Google latest to withdraw from Saudi conference

Alphabet Inc’s Google on Monday became the latest company to drop out of a business conference in Saudi Arabia. Pressure has mounted on Saudi Arabia since prominent Saudi journalist Jamal Khashoggi, a US resident, Washington Post columnist and critic of Saudi policies, went missing. He was last seen entering the Saudi consulate in Istanbul on …

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H1B visa: IT companies file lawsuit against US immigration agency

An IT advocacy group representing more than 1,000 small IT companies mostly run by Indian-Americans has filed a lawsuit against the US immigration agency for issuing H-1B visas for shorter than three years durations. The H1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical …

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Global Hunger Index: India’s ranking slips to 103 among 119 countries

The GHI, now in its 13th year, ranks countries based on four key indicators — undernourishment, child mortality, child wasting and child stunting. (IE) India has been ranked at the 103rd position among 119 countries on the Global Hunger Index, says a report. According to the report, prepared by Welthungerhilfe and Concern Worldwide, India is …

Global Hunger Index: India’s ranking slips to 103 among 119 countriesRead More »

AI, a $3-t opportunity for India

India stands to gain a whopping $3.14 trillion by 2030 by the adoption of Artificial Intelligence (AI), Nethra Sambamoorthi, Founder and Managing Director of the New Jersey, USA-based Institute of Analytics. Speaking at a conference on ‘AI transformation for India’ organised here by the Madras Management Association, Sambamoorthi said that AI could solve the daunting …

AI, a $3-t opportunity for IndiaRead More »

GSS Infotech acquires Nexii Labs

GSS Infotech Inc., an arm of GSS Infotech, will buy the US-based Nexii Labs Inc. The firm has signed the Share Purchase Agreement for acquiring 100 per cent shares of the target company. “Nexii Labs will bring in capabilities in the area of automation,” GSS Infotech Chief Executive Officer Bhargav Marepally has said. Nexii Labs …

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BankBazaar appoints former RBI Deputy Governor Mundra as advisor

Online financial services marketplace BankBazaar on Monday said former RBI Deputy Governor S S Mundra has been appointed as an advisor to the company. In a statement BankBazaar said Mundra’s expertise will help in driving 100 per cent paperless and presence-less financing by the company in India. BankBazaar Co-Founder & CEO Adhil Shetty said as …

BankBazaar appoints former RBI Deputy Governor Mundra as advisorRead More »

Expect three more quarters of losses for telecom industry: COAI

The telecom sector is likely to experience three more quarters of losses, hurt by high levies and “unsustainable tariffs”, a top official of industry body COAI has said. “Under the current scenario, I see at least another three plus quarters of losses. Personally, I do not think the present tariffs are sustainable for long term …

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Hackers accessed data of nearly 30 mn Facebook users

Social media giant Facebook, which has its largest user base in India, said that a recent hacking into its system has affected about 30 million users. Facebook product management vice president Guy Rosen on Friday said the cyber attackers exploited a vulnerability in Facebook’s code that existed between July 2017 and September 2018. The vulnerability …

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“Expect mediocre telecom service for at least 6 months’

Consolidation of network in telecom industry and power outages, have impacted the quality of calls. Call-drop has reared its ugly head once again. But the industry sees no immediate solution, and expects the mediocre quality of voice calls to continue at least for another six months. Explaining the quality, Tilak Raj Dua, Director General, Tower …

“Expect mediocre telecom service for at least 6 months’Read More »

With national test, TCS speeds up hiring, gains better access to talent

At a time when most IT services companies are trimming their workforce, TCS has hired over 10,000 and continues to add to its team aggressively. The biggest source of these hires has so far been campus placements. TCS visits 350-400 educational institutions to hire top talent. However, with the business growing based on sporadic increase …

With national test, TCS speeds up hiring, gains better access to talentRead More »

ITI to implement Rs 334 cr RajNet order establish 40,000 outdoor Wi-Fi access points

ITI Limited, a public sector telecommunications technology provider, received Letter of Intent (LoI) from RajCOMP Info Services, a Rajasthan Government undertaking, to execute the RajNet project. As per the project, ITI is expected to establish 40,000 outdoor Wi-Fi access points in Rajasthan, with order value of approximately Rs 334 crore. The project envisages supply, installation …

ITI to implement Rs 334 cr RajNet order establish 40,000 outdoor Wi-Fi access pointsRead More »

Facebook purges 251 accounts to thwart deception

Facebook on Thursday said it shut down 251 accounts for breaking rules against spam and coordinated deceit, some of it by ad farms pretending to be forums for political debate. The move came as the leading social network strives to prevent the platform from being used to sow division and spread misinformation ahead of US …

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Centre hikes import duty on key telecom equipment to 20%

In a move that will boost the domestic industry, the Centre has hiked the import duty on several telecom equipment. In three separate notifications, issued late in the evening on Thursday, the Finance Ministry hiked the import duty on eight key items to 20 per cent from 10 per cent. The items are optical transport …

Centre hikes import duty on key telecom equipment to 20%Read More »

Malaysian co Titanium World sets up subsidiary in India

Titanium World Technology Sdn Bhd, a Malaysian MNC, has announced its foray into India through a subsidiary, SmartCoat India, to offer its innovative nano tech-based safety coating solutions for hygiene and healthcare space. Establishing its India operations in Hyderabad, the company plans to offer two of its anti-microbial products SmartCoat Nano for institutional and industrial …

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Chennai’s Ramanujan IT city bags 3 UK awards

Tata Realty’s flagship project in Chennai — Ramanujan IT City SEZ — has bagged three awards at the Financial Times UK Best Global Free Trade Zones (FTZ) of the Year 2018. Financial Times, one of the world’s leading financial newspaper from the UK, has been presenting these awards on global level since 2014. This year …

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TDSAT clears the deck for RCom spectrum sale to Reliance Jio

In a relief to Reliance Communications (RCom), the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) has permitted the debt-laden company to go ahead with its proposed spectrum sale to Reliance Jio Infocomm (RJio). The move would help the Anil Ambani group company emerge debt-free soon. On Thursday, TDSAT rejected a Department of Telecommunications (DoT) plea …

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I continue to believe Aadhaar disclosure does not raise digital risks: TRAI Chief

TRAI Chief RS Sharma — who had created a stir by making public his Aadhaar number and challenging others to show how it can be misused — says he continues to believe that the disclosure of 12-digit identifier does not raise anyone’s digital vulnerability. In an interview to PTI, Sharma also said the recent Supreme …

I continue to believe Aadhaar disclosure does not raise digital risks: TRAI ChiefRead More »

Samsung unveils Galaxy A9 to tap into mid-premium market

South Korean electronics major Samsung on Thursday unveiled its latest Galaxy A9 smartphone to strengthen its play in the global mid-premium phone market. The Galaxy A9, world’s first device to feature quad-camera setup in a smartphone, is likely to be introduced in the Indian market in November. The pricing is also expected to be announced …

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TCS Q2 net profit jumps 23% to Rs 7,901 cr

Tata Consultancy Services has reported a 22.6 per cent rise in the second quarter net profit to Rs 7,901 crore over the year ago period, buoyed by strong demand for digital services. TCS had posted a net profit of Rs 6,446 crore in the same period last fiscal. Revenues rose 20.7 per cent to Rs …

TCS Q2 net profit jumps 23% to Rs 7,901 crRead More »

‘Amazon is country’s largest fashion platform for Diwali shopping’

Amazon.in is the country’s largest fashion platform for Diwali shopping and will be number one in order share of online fashion this Diwali, a top executive from Amazon India told BusinessLine. “We exited 2017 as the single-largest fashion destination to become the fastest-growing online fashion marketplace in the country. According to an IMRB study, Amazon …

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Zomato, Swiggy, Foodpanda, 7 others delist over 5,000 non-FSSAI licence restaurants

As many as 10 online food ordering platforms including Swiggy, Zomato and Foodpanda have delisted over 5,000 restaurants for not having approval from food safety regulator FSSAI, a top official said on Wednesday. The platforms include Swiggy, Zomato, Foodpanda, Box8, Faasos, FoodCloud, Foodmingo, JusFood, LimeTray and UberEats. The move by the companies comes after FSSAI …

Zomato, Swiggy, Foodpanda, 7 others delist over 5,000 non-FSSAI licence restaurantsRead More »

Pepperfry pares down losses by 42% in FY 2018

Furniture and home products marketplace, Pepperfry has cut down its losses by 42 per cent at ₹138.94 crore in FY ended March 31 2018 compared to 20 per cent at ₹240.69 crore in the previous fiscal. Total expenses declined by 13 per cent at ₹452.84 crore in FY 2018 over the previous fiscal. The reduction …

Pepperfry pares down losses by 42% in FY 2018Read More »

Zee-Rjio tiff ends; now view Zee content on Jio platform

ZEE Entertainment Enterprises and Reliance Jio have resolved differences over content sharing. This will make available ZEE’s entire content library on Jio’s platforms with immediate effect. ZEE and Jio will jointly market the content by leveraging their independent consumer-facing touch points. “This decision enhances the experience for over 227 million subscribers of Jio, giving them …

Zee-Rjio tiff ends; now view Zee content on Jio platformRead More »

Google+ take-down is a pragmatic move feels industry

Google’s decision to shut down Google+ was inevitable. On October 8, Google confirmed that it is shutting down Google+ after a breach revealed that private profile data of at least 500,000 users may have been exposed to hundreds of external developers. It also added that after a review highlighted that there are major challenges in …

Google+ take-down is a pragmatic move feels industryRead More »

Online smartphone sales set to surpass offline sales for the first time

Online smartphone sales in the country is set to surpass offline sales for the first time this quarter, led by India’s largest e-commerce marketplace Flipkart and American e-tail behemoth Amazon. The festival season from October to December is expected to witness the sale of 36 million smartphones, of which 19.1 million smartphones will be sold …

Online smartphone sales set to surpass offline sales for the first timeRead More »

Data war has created headwinds for business: Hathway MD

Cable and broadband services provider Hathway Cable and Datacom may have dismissed being Reliance Jio’s acquisition target as “speculation” but it’s MD Rajan Gupta admits that the data tariff war has created headwinds for his company. In a chat with BusinessLine, Gupta details Hathway’s plans to retain and grow its high-end broadband subscribers, paring debt …

Data war has created headwinds for business: Hathway MDRead More »

Campus hiring: Job offers by IT majors hit a high; experts cautious on trend

After a year of lull IT service companies, it appears, are back on a recruitment spree. This is evident from the campus recruitment at Tamil Nadu’s top engineering college campuses this year. Tata Consultancy Services, Cognizant Technology Solutions and Infosys have all made large number of Day 1 offers. At SRM Institute of Science and …

Campus hiring: Job offers by IT majors hit a high; experts cautious on trendRead More »

UK court blocks suit against Google

A British court has blocked a suit against Google on allegations that it had collected personal data on some 4 million iPhone users Britain’s High Court was ruling on Monday on whether a mass legal action could proceed against google for allegedly collecting sensitive information from some 4.4 million iPhone users. The legal challenge claimed …

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