Indian economy will recover earlier than global economy: Azim PremjiJanuary 20th, 2009 BANGALORE - Azim Premji, chairman of IT major Wipro, is optimistic about the revival of the Indian economy earlier than the world economy, saying the country remained largely insulated from the fallout of the financial meltdown and recession in developed countries. 'I am little more optimistic about the India situation.
Wipro to open development centre in AustraliaSeptember 30th, 2009 BANGALORE - Global software major Wipro Ltd will boost its presence in Australia by opening a 150-seat software development centre at Melbourne this December, the IT bellwether said Wednesday. Announcing the decision on the occasion of Victoria premier John Brumbys visit to the companys corporate headquarters in this tech hub, Wipro chairman Azim Premji said the Victorian operations would strengthen the companys Australia delivery capabilities and boost its presence in the country.
Defense Secretary Robert Gates approves Pentagon's creation of new cyber commandJune 23rd, 2009 Gates approves creation of new cyber command
WASHINGTON — Defense Secretary Robert Gates has formally ordered the creation of a new military cyber command that will coordinate the Pentagon's efforts to defend its networks and conduct cyberwarfare. A memo signed by Gates on Tuesday asks that U.S.
Satyam scam isolated, not a slur on corporate India: Kamal NathJanuary 16th, 2009 MUMBAI - The Rs.70 billion ($1.4 billion) financial scam in Satyam Computer Services is an isolated case and does not tarnish the image of the Indian corporate sector in any way, Commerce Minister Kamal Nath said here Saturday. 'India Inc has established its credentials.
Shocked Satyam employees begin job huntingJanuary 7th, 2009 HYDERABAD - Jolted by the biggest fraud in India's corporate history, thousands of employees of Satyam Computer Services have begun hunting for jobs in other companies. About 15,000 software professionals and other employees of Satyam have sent their CVs to placement companies and job portals during the last two days.
Global meltdown has hit IT sector hiring in India: NilekaniFebruary 15th, 2009 BANGALORE - Infosys Technologies vice-chairman Nandan M. Nilekani Monday admitted that the global economic meltdown has affected hiring in India's IT industry.
Khurshid asks IT sector to give inputs on new Companies BillSeptember 15th, 2009 KOLKATA - Corporate Affairs Minister Salman Khurshid Tuesday urged the Information Technology (IT) sector to spell out its standpoint and suggestions on the Companies Bill which is slated to come up before a standing committee of parliament soon. "We are in the process of moving before the standing committee of parliament the Companies Bill, 2009.
Are there more Satyams out there? (Comment)January 28th, 2009 The confessional letter written by Ramalinga Raju in the first week of 2009 about the massive fraud perpetrated at the country's fourth largest software company, Satyam, has opened a Pandora's box. The scam by Raju and his family could ultimately emerge as the mother of all corporate frauds in this country as even the initial investigations are revealing all kinds of manipulation.
Recruitment in Bengal IT sector may slump due to meltdownJanuary 14th, 2009 KOLKATA - The recruitment in the information technology (IT) sector in West Bengal is likely to be lower than the target set by the government due to the global economic meltdown, state IT minister Debesh Das said here Thursday. 'Last year we generated employment for around 15,000 people in the IT sector and this year we had set a target of 20,000.
24 Indians make it to 'World's Richest' clubMarch 11th, 2009 WASHINGTON - Two dozen Indians made it to the Forbes list of 'World's Richest' with four of them among the top 10, as Warren Buffett dethroned Microsoft co-founder Bill Gates, who held the top slot for 13 straight years. Steel czar Lakshmi Mittal, heading the world's largest steelmaker ArcelorMittal, is in the fourth place with a personal fortune of $45 billion.
BPO firms in Philippines looking at windfall from Satyam scandalJanuary 12th, 2009 SINGAPORE/MANILA - With a billion dollar revenue fraud dealing the Indian IT sector a body blow, BPO firms in the Philippines are hoping to make capital by getting some of the business from the West. Leading politician Representative Joseph Santiago said the unravelling of the massive revenue fraud at Satyam Computer Services would dissuade multinational companies from seeking BPO services in India.
BPO firms in Philippines looking at windfall from Satyam scandalJanuary 11th, 2009 SINGAPORE/MANILA - With a billion dollar revenue fraud dealing the Indian IT sector a body blow, BPO firms in the Philippines are hoping to make capital by getting some of the business from the West. Leading politician Representative Joseph Santiago said the unravelling of the massive revenue fraud at Satyam Computer Services would dissuade multinational companies from seeking BPO services in India.
Wipro net profit up 18 percent, but Q4 guidance loweredJanuary 20th, 2009 BANGALORE - Wipro Ltd posted net profit of Rs.10.04 billion (Rs.1,004 crore/$204 million) for the third quarter (October-December) of this fiscal (2008-09) as against Rs.8.54 billion (Rs. 8,540 crore) in the same period last fiscal, registering 18 percent year-on-year (YoY) growth under the Indian accounting system.
Communication minister A. Raja said 3G auction will be held this year in India. Oh, at last!June 1st, 2009 NEW DELHI - Communications Minister A. Raja, who took charge here Monday, said the third generation (3G) radio waves auction process will be completed by the year-end.
Employment outlook under severe strain: StudyDecember 27th, 2008 NEW DELHI - Financial services, information technology, consumer goods, retail and real estate sectors have witnessed the maximum decline in the creation of new jobs because of the economic slowdown, a leading business chamber has said. The Assocham Research Bureau, which tracked job vacancy data in 30 sectors to analyse the creation of new jobs in the economy, found that the 'employment outlook of India has come under severe strain'.
NEW DELHI - Wipro chief Azim Premji has asked the Indian IT industry to get ready to face the global competition, and not fall into a mind trap of 'India Advantage'. "We have talked a lot about India advantage. That makes me extremely worried. It's a huge amount of thumping on the back (by Indian IT industry)," Premji said at the 5th India Innovation Summit 2009, organized by the Confederation of Indian Industry.
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