Mar. 9 - The Confederation of Indian Industries has ranked New Delhi as having the best quality of life for its residents among all cities in the India based on their latest “Liveability Index.”
After New Delhi, the next best cities to live in are Mumbai, Chennai and Bangalore. The survey looked at 37 Indian cities in over a decade to compute for a quality of life index. It also used hard data collected from reliable sources to eliminate the possibility of personal bias or a sampling error obscuring the reality. Read the rest of this entry »
Oct. 27 - Business India magazine has just released its tenth best business schools survey which ranks India’s top institutions. The top ten is as follows with the name of each school also linked to its website.
1) Indian Institute of Management, Ahmedabad
2) Indian Institute of Management, Bangalore
3) Indian Institute of Management, Calcutta Read the rest of this entry »
By Chris Devonshire-Ellis
Oct. 26 - In the latest politically correct movement of stupidity, the State of Orissa is now legally to be known as Odisha following a ruling by the Indian Union Cabinet. The regional language, previously known as Oriya, will now be called Odia.
The move follows prolonged lobbying by the BJP Party, long bent on correcting misnamed cities and states. The confusion arises partly due to the phonetic and dialect differences in pronouncing the English version and the local language version with the BJP determined to revert all names to the ones used locally. Hence Bombay became Mumbai, Madras became Chennai and Calcutta became Kolkata. Read the rest of this entry »
BANGALORE, Aug. 26 - Toyota Motors plans to utilize the proposed Indo – Thai free trade agreement to tag India as a hub for manufacturing its small size cars for export to the global market.
While a few auto-parts already enjoy duty free status in India, the Indo- Thai FTA currently under negotiation is expected to make most auto parts and components used by Toyota and other car manufacturers duty free.
Read the rest of this entry »
Aug. 6 - Employees of India’s private, overseas and state banks numbering more than 900,000 will begin their two-day strike today.
An estimated 26 state-run banks, 10 private banks and eight foreign banks will be affected when its workers join the strike organized by the United Forum of Bank Unions (UFBU). “We seek expedition of wage revisions,” C H Venkatachalam, convener of the UFBU,was quoted by Bloomberg. “There is no question of calling off the strike now.”
The banking workers are demanding at least a 17.5 percent salary hike, pension benefits and that family members of those who die in service be employed.
May 18 - Nortel Networks opened its global network operations center in Bangalore to manage the networks of its carrier and enterprise customers in Europe, Asia and the Americas.
This is the company’s fifth overseas network operations center. According to Suresh Kumar, Nortel Asia-Pacific vice president for managed service delivery, the company chose not to expand in Gurgaon but set up a network operations center in Bangalore to provide disaster recovery capabilities to its customers.
The new center is designed to cater to the needs of 300 employees.
Jan. 8 - In a case that some may liken to the scamster Bernard Madoff, Chairman of India's fourth-largest IT company Satyam, Ramalinga Raju resigned from his post and admitted to gross misrepresentation of the companies balance sheets. Satyam which is listed on both the Bombay Stock Exchange and the New York Stock Exchange admitted to being involved in the country's biggest corporate fraud involving about Rs 8,000 crore (US$1.6 billion).
Following the inflation of profits and assets, investors in Satyam Computer Services Ltd's American Depositary Receipts (ADRs) have filed two class action suits against the Indian software services firm. The company has been audited by PricewaterhouseCoopers since its listing on the New York Stock exchange. Read the rest of this entry »
Oct. 24 - India's technology companies are feeling the heat from the global economic meltdown. "Our outlook is cautious in the near term given the extent of strain on the global economy," Azim Premji, chairman of Wipro Ltd. told the Wall Street Journal. Premji is pessimistic despite a sharp weakening of the Indian rupee, which helps tech companies that earn most of their revenue overseas.
A far cry from the 40 percent growth in revenues technology companies saw in the past few years, Tata Consultancy Services, India's largest IT company by revenue said revenue growth fell to 25 percent. Wipro's revenue on the other hand rose 36 percent on a year to your basis. Read the rest of this entry »
Aug. 27 - Business tycoon and Indian Richard Branson Vijay Mallya has recieved the green signal from the ministry of Aviation to fly his recently acquired Deccan Air internationally. This marks India's third International flight service, following Air India and Jet Airways.
Kingfisher Airlines will to fly to Thailand, Singapore, San Francisco, London and the UAE, amongst other destinations. The airlines is expected to launch their service from Banglore to London, Heathrow on the 3rd of September, the Economic Times reported. Read the rest of this entry »
Infosys Technologies Ltd. Chief Executive Officer K. Gopalakrishnan, center, flanked by Chief Operating Officer S. D. Shibulal, right, and Chief Financial Officer V. Balakrishnan
April 16 - The U.S. recession might not affect the bouyant Indian economy, but India's IT services industry which sources a majority of its work from the west is showing signs of being hit.
On Tuesday, the Indian IT industrys' bellwether company, Bangalore based Infosys posted a lower than expected forth quarter profit. Net profit rose 9.2 percent to 12.49 billion rupees (315.04 million dollars) in the fourth quarter ended March, from 11.45 billion rupees. The profit missed analyst estimates of 12.6 billion rupees. Read the rest of this entry »
