New Delhi: Information technology sector in the country witnessed steep decline in hiring activities as most companies embraced cost cutting measures to tide over uncertain economic conditions, say experts. "Hiring activities have seen a dip of 29 per cent in IT and ITeS sectors in May 2012 from the preceding month," MyHiringClub.com CEO Rajesh Kumar said. However, he said that other industries have increased recruitment activities by 13-15 per cent...
04:44 PM, Jun 01, 2012
New Delhi: The Prime Minister on Friday approved setting up of an Investment Tracking System to speed up the implementation of projects. A statement from the Prime Minister's Office said that the tracking system has been set up to address the issue of major investment projects being delayed for a variety of reasons. The issue had come up in the last meeting of the Prime Minister's Council on Trade and...
01:26 PM, Jun 01, 2012
New Delhi: A move is afoot in the government to make corruption in private sector a penal offence with imprisonment up to seven years for the offenders. The government has proposed to make bribery in private sector - both giving and accepting it - a criminal offence by amending the Indian Penal Code (IPC). The draft Indian Penal Code (Amendments) Bill, 2011, circulated to States and Union Territories by the...
12:52 PM, May 27, 2012
Mumbai: Despite a marginal improvement in the seat factor, national carrier Air India (AI) has lost its market share in April, helping low-cost airline SpiceJet to become the third-largest airline in the month with a market share of 17.7 per cent, according to the latest data from the sectoral regulator DGCA. The fall in the market share of AI is significant as the national carrier has seen an improvement in...
10:33 PM, May 18, 2012
New Delhi: The government is expected to soon take a view on the proposal of allowing foreign airlines to buy stakes in domestic carriers as the Industry Ministry has moved the final Cabinet note on the matter. "We have moved the Cabinet note...it is work in progress," Commerce and Industry Minister Anand Sharma told reporters. According to sources, before the proposal is taken up by the Cabinet, Prime Minister Manmohan...
05:23 PM, May 18, 2012
New Delhi: India's telecoms regulator on Sunday reaffirmed most of its proposed rules for an auction of mobile airwaves, including a steep base price for bids, despite howls of protests by carriers in the world's second-biggest mobile phone market. The Telecom Regulatory Authority of India (TRAI) had last month suggested an auction starting price that is nearly 10 times of what carriers had paid in a 2008 state grant process...
06:05 PM, May 14, 2012
New Delhi: The government is understood to have approved the appointment of Rahul Khullar, at present the Commerce Secretary, as Chairman of the Telecom Regulatory Authority of India (TRAI). Khullar, a 1975 batch IAS officer of Delhi cadre, would succeed JS Sarma, sources said. Sarma's tenure ended on Sunday. Khullar will head TRAI at a time when the regulator is in the line of fire of telecom operators for its...
05:34 PM, May 13, 2012
New Delhi: The cabinet has put on hold a proposal pending for years to raise the limit on foreign direct investment in insurance firms, possibly until after the 2014 elections, dashing the hopes of foreign insurers to spread their wings in a promising emerging market. Domestic and foreign insurers, which have invested billions of dollars in India over the last decade, have been lobbying the government for years to raise...
01:10 AM, May 12, 2012
New Delhi: Thousands of passengers across the country are left stranded as Air India and Kingfisher Airlines are forced to cancel flights following a strike by pilots. National carrier Air India on Thursday stopped bookings on international sectors and cancelled as many as 21 domestic flights. The Air India management also sacked nine more pilots, taking the total number of axed pilots to 45. The management of the national carrier...
09:44 PM, May 10, 2012
New Delhi: Notwithstanding the economic uncertainty, fresher recruitment and salary levels have seen an upward trend in the IT and ITeS sector during the January-March quarter of 2012 compared to other sectors in the same period, shows a survey. The survey findings reveal that IT and ITeS Sector had recruited 24 per cent freshers in the last quarter of FY'12 of their total hiring, a surge of 9 per cent...
08:30 PM, May 08, 2012
New Delhi: In a bid to strengthen the commercial ties between the two countries, India and Japan on Monday agreed to boost cooperation in infrastructure projects in DMIC, railways and energy sectors at their first Economic Dialogue. Besides the Delhi-Mumbai Industrial Corridor, the two countries also agreed to accelerate cooperation in infrastructure development in the areas along the Chennai-Bengaluru Industrial Corridor. "We discussed the entire gamut of issues in which...
03:58 AM, May 01, 2012
Istanbul: India's Power Minister Sushil Kumar Shinde on Saturday said that the government is augmenting domestic capacity for building critical and ultra-super critical technologies based power plants to meet the growing need for electricity. "Domestic capacities for building power plants with super critical and ultra-super critical technologies are being established to reduce the coal requirement of electricity production," Shinde said in his address to the World Energy Leaders Summit being...
03:49 AM, Apr 22, 2012
New Delhi: Union Civil Aviation Minister Ajit Singh on Thursday met Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee to discuss foreign direct investment (FDI) in aviation sector. According to sources, the government is likely to bring the issue of FDI in aviation to the Union Cabinet by the end of May. The government is also likely to reach out to its allies, including Trinamool Congress chief Mamata Banerjee,...
05:30 PM, Apr 19, 2012
New Delhi: Concerned over rising NPA, the government may ask state-owned banks to shut down branches and cut down on staff strength in loss-making units. "This is a part of an ongoing dialogue, not only banks but insurance companies also. If there are loss-making branches, then we need to re-look at why they are there. "If that needs working out a business strategy, may be relocating it, may be scaling...
08:28 PM, Apr 09, 2012
New Delhi: Terming the aviation sector as the 'real World Wide Web', a study has said it is currently contributing Rs 33,000 crore or 0.5 per cent of India's GDP and supporting 1.7 million jobs in the country, besides creating much-needed critical assets. The study, conducted by Oxford Economics for the International Air Transport Association (IATA) recently, says aviation not only provided significant economic benefits to the Indian economy and...
11:30 AM, Apr 01, 2012
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