FIRM

  • Coimbatore: Rs 1.70 crore of gold ornaments stolen from financial firm 4 days ago

    Coimbatore: Gold ornaments worth Rs 1.70 crore and Rs 5.6 lakh in cash were stolen from a city- based private financial firm dealing in gold loans, police said. A woman sweeper noticed the main doors of the firm at Kovaipudur area open and informed the security guard. He in turn...
  • Karnataka Labour Department asks US IT firm to pay Rs 12.5 lakh to techie for sacking her November 5, 2014

    Bengaluru: The Karnataka Labour Department has ordered a US-based IT firm to compensate a woman employee on grounds of 'illegally' terminating her services without providing valid reasons and for allegedly causing harassment. The techie had approached the Labour department on Karnataka Women's Commission's direction, and after hearing the case, the department...
  • IIT-Kharagpur student offered Rs 91 lakh salary package November 4, 2014

    Kolkata: A month away from final placements, IIT Kharagpur students are being flooded with pre-placement offers with a 20 per cent increase this year. IIT officials said already around 125 students have been extended pre-placement offers and interviews, where most of the companies have increased the package offered by around 20...
  • Bangalore police shows the way, uses Twitter to catch criminals October 30, 2014

    Bangalore: Two people have been arrested in a fake job consultancy network that the Bangalore police busted with the help of Twitter. A youngster who was cheated by the fake job consultancy firm emailed Bangalore police and alerted them about the alleged scam. The young man found the email address...
  • Insurance firms may take Rs 2,400 crore due to Hudhud October 22, 2014

    Hyderabad: USA-based catastrophe modelling firm AIR Worldwide has estimated that insurance companies may take a hit of around Rs 2,400 crore due to Cyclone Hudhud which recently battered Andhra Pradesh and Odisha coasts. AIR Worldwide's insured loss estimates assume that an insurance penetration of 3% for residential lines, 20% for commercial,...
  • Indian engineer sentenced for stealing trade secrets in US October 17, 2014

    New York: An Indian engineer has been sentenced to 18 months in prison and ordered to pay thousands of dollars in restitution for stealing trade secrets from two global medical technology firms based in New Jersey here. Ketankumar Maniar, 38, a former New Jersey resident had previously pleaded guilty before US...
  • Microsoft chief Satya Nadella faces criticism for saying women should not ask for raises October 10, 2014

    Seattle: Microsoft's chief executive officer suggested on Thursday that women in technology should not ask for raises but have faith in the system, bringing a torrent of criticism and causing the executive to backtrack after the statement. Satya Nadella, who became CEO in February, was asked how women should get ahead...
  • Gujarat FSL to tie up with USbased firm for ballistic testing September 8, 2014

    Ahmedabad: Gujarat Forensic Science Laboratory, which provides services to various companies for testing of armour panels and bulletproof jackets, is likely to soon tieup with a USbased firm to share best practices in the field of ballistic testing. The Gandhinagarbased FSL has it own ballistic testing centre where it tests products...
  • Chinese firms to teamup with Indian firms for rail projects September 3, 2014

    Beijing: Chinese firms are teaming with Indian companies to jointly bid for five highspeed railway projects in India in an apparent attempt to compete with Japan's plans to build bullet trains. The Indian government will soon open the projects for public bidding and Tata Projects, one of the fastest growing infrastructure...
  • 12 Indian firms in Forbes' 50 best companies in AsiaPacific September 2, 2014

    New York: Tata Consultancy Services (TCS), HCL Technologies and HDFC Bank are among the 50 best public companies in AsiaPacific according to a compilation by Forbes, which ranked India second behind China as home to the "world's next growth engines". The Forbes 2014 'honour roll of the Fabulous 50' lists best...
  • Firms tool up for defence orders on Narendra Modi's 'make in India' pledge August 21, 2014

    New Delhi: Some of India's biggest companies are pouring billions of dollars into manufacturing guns, ships and tanks for the country's military, buoyed by the new government's commitment to upgrade its armed forces using domestic factories. India, the world's largest arms importer, will spend $250 billion in the next decade on...
  • Average CEO salary at top Sensex firms near Rs 10 crore July 27, 2014

    New Delhi: The average CEO pay at India's top listed companies has risen to Rs 10 crore a year, but still remains less than onetenth of over Rs 100 crore median remuneration paid to their peers in the US. The top executives of the country's biggest blue chip companies, forming...
  • Defence Ministry clears acquisition proposals worth Rs 21,000 crore July 19, 2014

    New Delhi: Pressing ahead with its policy to promote domestic military industry, the government on Saturday cleared procurement proposals worth over Rs 21,000 crore and also okayed a project for the production of transport aircraft which is open only to Indian private sector companies. Among the major proposals to receive approval...
  • Infosys becomes first IT firm to file sustainability report July 2, 2014

    Bangalore: Global software major Infosys Ltd became the world's first IT firm to file a sustainability report based on the latest global reporting initiative (GRI) framework, the IT bellwether said on Wednesday. "As a valuedriven company, we follow the highest levels of disclosure, besides ensuring compliance with the laws of the...
  • Iraq violence puts energy projects by Indian firms at risk June 19, 2014

    New Delhi: As escalating violence brings Iraq to a standstill, energy sector projects of Indian firms Lanco Infratech and BGR Energy may be put at risk in the wartorn nation. Lanco Infratech had a contract to build a 250 MW power plant at Akaz in Iraq, while BGR Energy is setting...
  • DLF becomes India's first realty firm to get ISO certification June 17, 2014

    New Delhi: Realty giant DLF said on Monday it has become the country's first real estate developer to get ISO 9001:2008 quality certification for development of housing and commercial projects. "DLF Home Developers Ltd, a part of DLF, has received ISO 9001:2008 certification after meeting the stringent guidelines set out...
  • Facebook acquires mobile data plan firm Pryte June 4, 2014

    San Francisco: Facebook is acquiring Pryte, a Finnish company that aims to make it easier for mobile phone users in underdeveloped parts of the world to use wireless Internet apps. Facebook did not disclose financial terms of the deal, which spokeswoman Vanessa Chan said is expected to close later this month. Pryte's...
  • India aims for single window clearance for IT firms in China June 1, 2014

    Beijing: Eyeing a big foothold in China's booming IT services industry, India aims to press Beijing for working out a "single window clearance" concept to enable Indian IT companies to enter the Communist giant's market. "Hopefully we are able to negotiate a single window" concept to enable IT companies to enter...
  • BG Srinivas tipped to join another IT firm as CEO amp;amp; MD May 29, 2014

    Infosys' latest high profile exit BG Srinivas may join another IT services firm as its Chief Executive Officer (CEO) and Managing Director. Considered among the top contenders for the first nonfounder CEO post at the company, Srinivas who is a Infosys Board Member and President, has resigned in a surprise move. This...
  • 9 Indian firms in Forbes most innovative growth list May 22, 2014

    As many as nine Indian firms have made it to the Forbes World's 100 most innovative growth companies list, which has been topped by New Zealand software accounting firm Xero. The list has been made on the basis of Innovation Premium, which Forbes described as a measure of how much investors...
  • EU adds 13 people, 2 firms to Ukraine list May 13, 2014

    European Union foreign ministers have added 13 people to their visa ban and asset freeze list over Ukraine's crisis but are not expected to decide whether to impose tough economic measures on Russia before Ukraine's May 25 elections, officials said. The 28 EU ministers also said in a statement on Monday...
  • EC lodges complaint against IT firms for working on polling day April 25, 2014

    Chennai: Some of the top IT companies and IT enabled services companies in Tamil Nadu are facing charges under the Representation of People's Act and the archaic Tamil Nadu Shops and Establishments Act for not declaring a paid holiday on the voting day. According to state labour department officials IT...
  • Swedish eye tracking technology firm Tobii plans IPO: Report March 30, 2014

    Stockholm: Swedish eye tracking technology firm Tobii, co-owned by chipmaker Intel, is planning a stock market listing which could value the firm at around 2 billion crowns ($309 million), business daily Dagens Industri reported. Tobii, which develops eye-controlled devices that can be used in computer interaction and in human behavior analysis,...
  • Indian-American firm to pay $15 mn for false claims February 26, 2014

    A diagnostic firm founded by an Indian-American physician has agreed to pay $15.5 million to settle charges that it falsely billed federal and state health care programmes and paid kickbacks to physicians. The Diagnostic Imaging Group (DIG), founded in 1985 by Mumbai native Leena Doshi, would pay $13.65 million to the...
  • India to block US trade probes, ready for fight at WTO February 25, 2014

    India has decided to block investigations by the United States into its trade policies and patent laws, and prepare for a battle at the World Trade Organization (WTO), a move that could escalate already-strained tension between the two countries. New Delhi is furious about a threat of trade sanctions made by...
  • US firm Textron offers VVIP choppers to India January 24, 2014

    After India scrapped a contract for procuring VVIP choppers from AgustaWestland, American firm Textron on Friday said it is ready to offer its unique V22 Osprey helicopter to India for ferrying its dignitaries. "We are ready to offer to India the V22 Osprey in the VIP configuration through the Foreign Military...
  • Chinese power firms in India under pressure due to rupee January 21, 2014

    Chinese power generations companies which rapidly expanded operations in India in recent years are complaining of pressure due to depreciation of rupee and appreciation of China s currency RMB, saying it has eroded their profits. Indian rupee devalued about 20 per cent at one stage in 2013, while the RMB appreciated...
  • Haryana orders CBI probe into Rs 8 cr contract awarded by Khemka January 18, 2014

    Chandigarh: The Haryana government has ordered a probe by the Central Bureau of Investigation (CBI) into a Rs 8 crore contract awarded by IAS officer Ashok Khemka to a firm in Gujarat when he was the Managing Director of the State Warehouse Corporation in 2009. Ashok Khemka has earlier exposed...
  • India cancels Rs 3,600 crore VVIP chopper deal with AgustaWestland January 1, 2014

    New Delhi: India on Wednesday cancelled Rs 3,600crore VVIP chopper deal with AgustaWestland in view of bribery allegations. The decision was taken after a meeting of Defence Minister AK Antony and Prime Minister Manmohan Singh. The deal had been put on hold in February after the CEO of Agusta's parent company...
  • Apple's latest acquisition Topsy was cofounded by IndianAmericans December 3, 2013

    New York: A social media analytics firm, cofounded by two IndianAmerican entrepreneurs, has been acquired by Apple for over $ 200 million. A San Franciscobased startup, Topsy Labs was cofounded by Vipul Ved Prakash and Rishab Aiyer Ghosh. The company tracks trending topics on microblogging site Twitter and other social...