India Blog News - Page 18

ITAT rules in favour of Flipkart; I-T Department to refund Rs 55 cr tax collected with interest

The tax department while raising the demand had treated the Rs 796 crore loss incurred by Flipkart for the assessment year 2015-16 as capital expenditure.

Amazon Q1 results buck expectations with huge profits, optimistic outlook; Prime membership fees hiked in US

Revenue from third-party sellers paying to promote their products on Amazon.com was an unusually large bright spot during the quarter.

Price competition in Indian telecom market expected to ease beyond short-term: Fitch

The combination of Bharti Infratel with Indus Towers, announced on Wednesday, reflected the "fierce price competition" in the Indian telecom market that has prompted consolidation and incumbents to sell assets to raise funds, Fitch said

Axis Bank dragged to first quarterly loss at Rs 2,188 cr by bad loans on three-fold surge in provisions

Axis Bank has seen its non-performing loans jump more than eight times in the past three years to 342.49 billion rupees, or 6.77 percent of its loan book, at the end of March.

Sensex rebounds 57 points, Nifty trades higher; Wipro tumbles around 5 percent after dismal Q4 show

The 30-share Sensex recovered 57.35 points, or 0.16 percent, to trade 34,558.62 in opening session

SAT disposes of pleas of DLF, K P Singh, five others against Rs 86 cr Sebi penalty

The regulator had imposed a total fine of Rs 86 crore on DLF and other entities for not disclosing certain material information and facts in its IPO document.

Some Indian firms acknowledge widespread bribery, corruption in business: EY survey

As many as 50 corporates from India participated in the survey, of which 20 respondents said there is widespread bribery and corruption in business.

PNB scam: PMO steps in, wants agencies to probe into new evidence provided by a whistleblower

PNB had alleged in January this year that its Mumbai branch had fraudulently issued LoU and FLC to Nirav Modi firms in connivance with deputy manager Gokulnath Shetty and other bank officials

H-1B visa approvals for seven top Indian IT firms have dropped a whopping 43 percent

The drop in H-1B visas for Indian-based companies is due to industry trends toward digital services such as cloud computing and artificial intelligence, which require fewer workers, and a choice by companies to rely less on visas and to build up their domestic workforces in the United States.

Sensex sheds over 100 points, Nifty falls below 10,600 mark on weak global cues; Bharti Airtel rises nearly 3%

The benchmark BSE Sensex started on a negative note, shedding over 100 points today, on weak global cues and rupee depreciation against the US dollar.

US lawmakers, IT industry, Facebook oppose Trump administration's ban on H-4 visas for spouses of H-1B visa holders

Roughly 80 percent of H-4 visa holders are women, and many had successful jobs and held advanced degrees in their native countries before coming to the US with their H-1B spouses

Indus Towers, Bharti Infratel to merge; new entity will be largest mobile tower operator outside China

Post the deal, Bharti Airtel and Vodafone will jointly control the combined company, and the transaction is expected to close before the end of 2018-19, subject to statutory approvals.

Private equity investments into real estate decline by 19% YoY in FY18: Report

The decline in private equity investment could reflect turbulence in the real estate sector, property consultancy Knight Frank said in its report.

Breather for old telecos: Telecom tribunal TDSAT stays Trai's rule on reporting customised offers

Under the new rules, Trai had said it will impose financial disincentive of up to Rs 50 lakh per circle on operators if their service rates are found to be predatory in nature.

KKR-backed Radiant Life Care makes revised bid for Fortis, offers Rs 1,200 cr without due diligence for Mulund Hospital

Radiant had earlier offered to acquire at least 26 percent stake in FHL at Rs 126 per share, excluding its diagnostic business SRL.

Tata Group can now tap veteran bureaucrat S Jaishankar's expertise when navigating power corridors the world over

The Tatas will benefit from veteran bureaucrat S Jaishankar’s deep understanding of geopolitics and international political economy.

Twitter co-founder Biz Stone bet on Indian healthcare startup Visit before he even met its promoters

Visit is an online healthcare service platform that connects users with a pool of doctors to choose from, for video/telephonic consultations.

Sensex gains 147 pts on firm global cues at 34,598, Nifty reclaims 10,600; bank, FMCG, auto stocks major gainers

The 30-share index rose 147.25 points, or 0.42 percent, to 34,598.02. The gauge had gained 35.19 points in the previous session.

Gold tracks US dollar as interest rates take a back seat; trend expected to continue over coming months, says World Gold Council

One of the reasons the dollar will overtake rates to explain the direction of the gold price is that movements in the American unit already reflect inflation expectations of monetary policy in the world's largest economy, the WGC said

Artificial Intelligence will not lead to overall less number of jobs in the country, says Bibek Debroy

There is no need to be worried about Artificial Intelligence instead India "should be more concerned about human development and skill development", Debroy said

TCS crosses $100 bn in market cap: Tata Group firm poised to leverage global digital opportunity, says N Chandrasekaran

TCS creating history as the first Indian IT major to hit the coveted US $100 billion market cap is a result of consistent value creation and is poised to leverage the global digital opportunity

With $69 bn in remittances in 2017, India retains top slot followed by China, Philippines, says World Bank

India had in 2015 received remittance of US $68.91 billion, which fell to US $62.74 billion in the following year and has now risen to US $68.96 billion in 2017.

TCS first Indian company to achieve $100 billion market cap: Twitterati marks milestone with superlatives

People celebrated the milestone of the IT-bellwether, TCS, by using superatives.

TCS creates history, becomes first Indian listed company to cross $100 bn market capitalisation; trumps Accenture

Tata Consultancy Services (TCS) created history by becoming the first Indian listed company to cross the crucial $100 billion market capitalization figure or Rs 6,60,000 crore on the BSE in intraday trade

97% Indian travellers eye 'sustainable' tourism in 2018, do not mind paying a premium for it, finds survey

The survey found that Indian travellers are the most willing to pay the premium closely followed by Brazilians and Chinese.

Twitter co-founder Biz Stone invests in Artificial Intelligence-powered Delhi-based health start-up Visit

Biz Stone said Investing in Visit is his small way of contributing to a future where AI is seen as a positive enhancement of humanity that really does improve lives

Amazon India expects groceries, household products to account for more than half of its business in 5 years

Amazon had already started experimenting with a few fresh groceries in India, already home to its largest active customer base outside of the United States.

TCS bets on Business 4.0 strategy to push revenues from new-age technologies to over $5bn this year

TCS CEO and Managing Director Rajesh Gopinathan said Business 4.0 is thought leadership framework to help customers leverage digital technologies to address their growth and transformation agendas.

Growth expected to accelerate next fiscal, real GDP growth to expand at 7.4% in 2018-19, says Urjit Patel

Urjit Patel said several factors were likely to influence the inflation outlook, including a possible moderation in food prices if the monsoon turned out to be normal and was supported by an effective food supply management