Tech giant Microsoft plans massive layoffs as the company shifts focus from software business to cloud computing and other transformative digital services, according to reports. Whereas several reports predict changes will result in thousands of layoffs, Microsoft confirmed to AFP that the changes were on way. "Microsoft is implementing changes to better serve our customers and... Continue Reading →
Media reports predict that the advent of the Goods and Services Tax (GST) will boost GDP growth rates by 2–2.5% in India. Some even predict 4.5% GDP growth rates (GST to boost GDP by 4.2% or Rs 6.5 lakh crore: Fed Paper: The Economic Times). The newspaper doesn’t divulge details about the referenced research note. India’s Finance Minister Arun Jaitley says the... Continue Reading →
The immediate impact of the Goods and Services Tax (GST) on consumers is that they will need to shell out more money for ready-to-move-in flats because developers who have large unsold inventories will need to get them off the block and may try to pass on higher tax burdens to buyers. On the other hand, new flats... Continue Reading →
While the United States of America has withdrawn from the Paris Agreement, Asian superpower China is marching towards emission reduction as well as renewable energy commitments. The world’s biggest floating solar power plant has been made operational in Huainan city, Eastern China. The 40-MW plant is situated on a reservoir and is in close proximity... Continue Reading →
The mass firings at some of India's leading Information Technology Sector companies has not gone down well with the employees. Ex-employees of Indian Information Technology (IT) firms such as Cognizant, Wipro, and Tech Mahindra, who faced layoffs recently, are taking recourse against what they termed illegal and baseless job cuts, according to media reports. The complainants from Pune, India, have approached the Maharashtra... Continue Reading →
A shot in the arm for infrastructure, India inaugurates its longest river bridge at a whopping cost of around Rs 2,056 crore. The 9.15-km Dhola-Sadiya bridge across the river Lohit is situated at the eastern tip of Assam and is a tributary of the river Brahmaputra. The bridge is around 3.55 km longer as compared... Continue Reading →
Information technology (IT) major IBM has decided to layoff a few thousand employees from the Indian unit, according to media reports. IBM India is looking at "achieving 100 per cent utilization" across projects with shift in business and increased demand for digital-technology-based services, said a source to the media outlet. Recently, there has been a flood... Continue Reading →
By Muqbil Ahmar According to a survey by global research firm Ernst and Young (E&Y) among Indian bankers, 87% said that Non-Performing Assets (NPAs) occurred due to diversion of funds to unrelated business or fraud, while a further 64% attributed them to lapses in due diligence. Around 72% of the survey respondents were of the... Continue Reading →
By Muqbil Ahmar The current scenario of the logistics industry in India is far from ideal. Today, Central and state governments levy different taxes separately. A Ministry of Road Transport and Highways report says that a typical truck spends 16% time at check-posts. On an average, a truck in India runs an annual distance of... Continue Reading →
By Muqbil Ahmar According to the Economic Survey, annual employment growth in India was barely 0.5 percent during 2004-12, whereas the labor force growth was around 2.9 percent. According to Indian Government's very own Labor Bureau, India created only 135,000 jobs in eight labor-intensive sectors in 2015, whereas the number of people working or looking... Continue Reading →
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