Business news

Amazon almost done investing its proposed $5 billion to expand business in India

Amazon is spending its most part of the investment on building infrastructure for the future and it is further expected that Amazon is going to invest aggressively in the ever-growing market.

Sep 16, 2018

CBI chargesheet against Mallya likely in a month; bank officials may be named accused

This would be first chargesheet in the case pertaining to loans of over Rs 6,000 crore given to Kingfisher by a consortium of 17 banks led by State Bank of India which alone had an exposure of Rs 1600 crore.

Sep 16, 2018

Walmart-Flipkart deal: US retail gaint pays Rs 7,439 crore tax

The IT department had earlier sent a communication to Walmart International Holdings seeking a break-up of the taxes paid from the payment to all the shareholders.

Sep 16, 2018

Infosys buys Finnish firm Fluido Oy for $76 mn

Though the company did not disclose the acquisition cost in its release, it mentioned in a regulatory filing on the BSE that "100 per cent of Fluido's shares have been acquired in cash for Euro 65 million", which translates to $75.8 million (Rs 546 crore).

Sep 15, 2018

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Govt permission not needed for managerial payout, says Corporate Affairs Ministry

If the employee's salary is more than 11 per cent of the net profit of the company, the company's shareholders' approval is needed through a special resolution and not the government's.

Sep 14, 2018

'Next global financial crisis could trigger a 50% plunge in emerging market stocks'

In India, the projected fall in energy prices could be a silver lining amid the gloom of the next meltdown.

Sep 14, 2018

Walmart, Flipkart employees to get option to switch places

The decision has come after the Bentonville based e-retailer, Walmart, took over 77 per cent stake in Flipkart at a whopping $16 billion.

Sep 13, 2018

An outsider to replace CEO Francisco D'Souza at Cognizant?

The software company has been doing tremendously well under the leadership of D'Souza which has outperformed its peers to report revenue of $14.81 billion in 2017 from just about $1.42 billion in 2006.

Sep 13, 2018

Top Indian IT companies on a hiring spree; indicates growth in sector for 1st time in 3 years

Reports say that Tata and Wipro are expected to grow swiftly this fiscal year. Tata is predicted to cross 10 per cent growth while Wipro is looking to cross one per cent growth.

Sep 12, 2018

Online pharma players concerned over the 'overlapping' powers of states in draft policy

India's pharmaceutical sector is valued at $33 billion in 2017. Moreover, it is likely to grow at a Compound Annual Growth Rate (CAGR) of 22.4% over 2015–20 to reach $55 billion.

Sep 12, 2018

Samsung to open world's largest mobile experience centre in Bengaluru

Also, this would be the biggest-ever display of Samsung accessories such as cases, covers and power banks at the "Samsung Opera House" wherein prospective buyers would be offered customization options for accessories.

Sep 11, 2018

Rupee depreciation may benefit the IT companies

The Indian IT companies are expected to witness an improvement in margins by as much as 100 basis points in their second quarter on the current fiscal year.

Sep 11, 2018