Business news

7th Pay Commission notified: Maximum HRA hiked from Rs 27,000 to Rs 60,000 for now

HRA shall not be less than Rs 5,400 per month, HRA rate to be raised to Rs 75,000 when DA crosses 50 percent.

Jul 7, 2017

India, Israel launch $40-million innovation fund

Each country will allocate $4 million per year over a five-year period for the fund's activities

Jul 7, 2017

IDFC and Shriram Groups discuss merger that could create financial giant worth Rs 60,000 crore

The merger would result in the formation of a financial powerhouse, which could have a market value of about Rs 62,000 crore

Jul 7, 2017

Microsoft confirms layoffs; job cuts likely to impact about 3,000 employees

The Redmond-based firm began sending out layoff notices on Thursday and most of the job cuts are likely to affect the firm's sales and marketing staff based out of the US.

Jul 7, 2017

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Want to acquire AI's international operations: IndiGo

While IndiGo may be interested in buying national passenger carrier Air India's international operations, it has said that it is not keen on a joint venture with the government.

Jul 7, 2017

CBI files 2,000-page dossier as evidence in Vijay Mallya extradition case, next hearing on September 14

The 61-year-old fugitive liquor baron will have to be extradited within two months if the court judgment goes against him.

Jul 6, 2017

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IT companies to post muted growth for June quarter: Nirmal Bang analyst

Infosys, TCS, Wipro, Tech Mahindra, Mindtree and HCL Technologies are expected to report mixed results for June quarter, 2017.

Jul 6, 2017

GST might take sheen off gold demand in the short term, says WGC

Raising taxes on gold under GST could hit demand, and small-scale artisans and retailers with varying degrees of tax compliance may struggle to adapt.

Jul 6, 2017

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Ratan Tata backed-Moglix raises $12 million in Series B funding

The latest round of fund-raising saw participation by new investors IFC and Rocketship, apart from existing ones, including Accel Partners.

Jul 6, 2017

Amazon invests Rs 1,680 crore in India amid Flipkart and Snapdeal merger talks

Amazon's infusion Rs 1,680 crore in its India ops is seen as a move to conquer the Indian online retail market, and cut further into Flipkart's pie.

Jul 6, 2017

Key Indian equity market indices open higher

Nasdaq closed in green, up by 0.66 percent while FTSE 100 was up by 0.14 percent at the closing on Wednesday.

Jul 6, 2017

Microsoft employees prepare for massive layoffs likely to begin on Thursday

While the job cuts have been predicted for quite some time, it is now being said that Microsoft's corporate rejig is likely to begin on Thursday, July 6.

Jul 6, 2017

Indian equity markets close with marginal gains

The 30-scrip Sensex ended 36 points higher at 31,245 points.

Jul 5, 2017

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Wipro announces tie-up with Israel Aerospace Industries

Wipro Infrastructure Engineering (WIN), part of Wipro Enterprises (P) Ltd. and IAI will manufacture composite aerostructure parts and assemblies.

Jul 5, 2017

French IT firm Capgemini likely to hire 20,000 workers in India this year

Apart from its plans of hiring employees this year, Capgemini has also re-skilled about 45,000 of its employees until May in a bid to embrace automation.

Jul 5, 2017