Sector

'Indians more willing to share personal info than others'

Mumbai: Even as cases of financial fraud are dotting cyber space across the world, Indians seem more forthcoming in giving out their personal information for personalised services and simplification of finance management than their global counterparts, a study by Cisco has said.

According to the Cisco report, 72 per cent of respondents from India said they would provide more personal information to simplify management of finances compared to 56 per cent participants agreeing globally.

The study, conducted in early 2013, aimed at finding out how and when consumers want to engage with their banks across multiple channels for activities ranging from account monitoring to acquiring financial advice.

...more    

HSBC may cut 14,000 more jobs as revenue faces pressure

London: HSBC will redouble cost-cutting efforts, including axing up to 14,000 more jobs, but Europe's largest bank was forced to soften a key performance target in the face of muted revenue. London-headquartered HSBC is seeking up to $3 billion in additional annual savings by 2016, on top of $4 billion already achieved, but sluggish growth outside Asia, particularly in Europe, means its target to get costs below 52 per cent...  

Indian-origin Cognizant CEO gets over $ 10 mn pay package

New Delhi: Offshore-centric IT services major Cognizant has paid its India-origin CEO Francisco D'Souza a pay package of USD 10.61 million in cash, stocks and other benefits. The US-listed company, which has a large portion of its 1.63 lakh workforce in India, paid Frank a base salary of USD 590,000, stock awards worth USD 9.59 million and a non-equity incentive plan compensation of USD 405,780 for the last year. However,...  

BJP to oppose entry of Walmart into HP, says Satti

Shimla: The Himachal Pradesh BJP, which has been opposing FDI in retail, on Saturday said it would not allow foreign stores like Walmart into the state "Foreign chains like Walmart and Metro Cash and Carry will not be allowed to enter Himachal and the interests of small traders will be fully safeguarded," state BJP president Satpal Singh Satti said. He was reacting to Civil Supplies minister GS Bali's announcement to...  

Why a resurgent american economy matters for India Inc

Fall in Canada is splendid. Around September to early October, for a couple of weeks every year, the changing leaf colours attract thousands of visitors. Two years ago, Dow India chairman Vipul Shah and his wife decided to take a trip to see the sight. There is this one train that goes to this place in Ontario, where the colours are at their best. It leaves early in the morning...  

Government envisages over $12 bn investment in aviation

New Delhi: Describing the decision on 49 per cent FDI in aviation as one which will transform the sector, Civil Aviation Minister Ajit Singh said on Friday the government envisages investment of $12.1 billion in the sector in the 12th Plan period (2012-2016). Singh said the rapidly expanding air transport network and opening up of infrastructure to the private sector have fuelled the growth of air traffic in India. "Indian...  

Chinese troops reinforce position in DBO

Leh/New Delhi: China has reinforced its position in Daulat Beg Oldi (DBO) sector, 19 kilometre deep inside Indian territory, where they are getting regular supplies through trucks. According to reports sent to the Union Home Ministry, the Chinese side had adopted aggressive posture during patrolling in the DBO sector, where they have pitched five tents, and were refusing to end the face-off which has entered the third week. After the...  

Great scope to develop religious tourism in Bihar: Nitish

Patna: Stating that Bihar has treasure trove of all religions, Chief Minister Nitish Kumar on Monday said there is tremendous scope to develop religious tourism in the state and exhorted industrialists to invest in the sector, particularly in hotel and transport sectors. "Bihar has many religious and historic tradition which people from across the world wish to see," Kumar said addressing a convention of industrialists at Rajgir. He mentioned Buddhist...  

Chinese troops erect 1 more tent in Ladakh, standoff enters third week

Leh/New Delhi: Chinese troops have erected one more tent in Daulat Beg Oldi (DBO) sector in Ladakh raising the number of such structures in the area of incursion to five, as the standoff between India and China on Monday entered the third week. With China showing no signs of withdrawing its troops from the Indian territory, sources said efforts to break the impasse over the incursion are yielding no results...  

Centre's soft attitude is reason behind China incursion: BJP

Jammu: BJP on Monday blamed Centre's soft attitude towards China as a reason behind the latest incursion in DBO sector in eastern Ladakh. "India's defence policy towards China is soft as a result of which China indulges in intrusions every now and then," BJP National Executive Member and former MP, Thupstan Chhewang, told reporters here on Monday. He also alleged that "Congress-led UPA government has adopted complete silence over incidents...  

K'aka: Parties woo IT professionals; will they come out and vote?

Bangalore: With less than a week to go for the Assembly elections campaigning is in full swing in Karnataka. The generals have now landed on the battlefield. After Gujarat Chief Minister Narendra Modi, now Prime Minister Manmohan Singh will start his tour of the state. He will first address a public meeting in Hubli which was a BJP stronghold till recently. But the question is whether Dr Singh will be...  

Willing to work with India to deal with differences: China

Beijing: China on Sunday took note of Prime Minister Manmohan Singh's remarks over PLA's incursion into the Depsang Valley and said that it is willing to work with New Delhi to deal with differences while maintaining peace at borders and forging strategic cooperative partnership. "We have noted Prime Minister Manmohan Singh's statement," a statement by the Chinese Foreign Ministry said. "The two sides have been in communication through the working...  

India-China standoff: War not a possibility, says NUS professor

CNN-IBN's International Affairs Editor Suhasini Haider spoke to Huang Jing, a political science professor at the National University of Singapore, who dismissed war as a possibility after a standoff between India and China. ...

2G spectrum allocation case: Mittal, Ruia appear in court

New Delhi: Bharti CMD Sunil Mittal and Essar group promoter Ravi Ruia, who have been summoned as accused in the additional 2G spectrum allocation case, on Thursday appeared in a Delhi court which posted the matter for further proceedings on April 16. Mittal's counsel placed before special CBI judge OP Saini the order passed by the Supreme Court postponing till April 16 the proceedings in the case. Besides Mittal and...  

Wipro shares slump on first trading session after split

Mumbai: Shares in Wipro Ltd, India's No.3 software services provider, fell as much as 11.3 per cent on Tuesday, which marked the first trading session as a standalone IT stock after splitting its other businesses into a separate unit. Wipro's split-off announced in November 2012 legally took effect on March 31, but has not been reflected in shares until Tuesday, meaning the company's shares no longer take into account the...  

Telecom sector is undergoing transition: Sam Pitroda

New Delhi: Terming the present state of the Indian telecom sector as a transition phase, National Innovation Council Chairman Sam Pitroda on Monday said the next revolution is expected to be much bigger than the earlier one. "We are just going through a transition, everybody goes through a transition, sometimes you fall down, hurt your elbow, but its OK," Pitroda who is also advisor to the Prime Minister on public...  

BHEL provisional profit down by 8 per cent in FY13

New Delhi: Bharat Heavy Electricals Ltd (BHEL), India's state-run top power equipment maker, reported on Monday an 8 per cent fall in provisional net profit for the fiscal year ended on March 31. India's power sector has been badly hit by shortages of coal and gas supplies, delays in environmental approvals for power and mining projects and drying up of funding - severely denting the demand for equipment. Provisional net...  

Finance Ministry asks PSU banks to limit loan write-offs

The Finance Ministry has asked public sector banks to limit the amount of loan write-offs and sought details of recoveries made by them in the six years ending 2011-12 with an aim to improve the finances of PSU lenders. ...  

Morgan Stanley upgrdaes RComm to 'equal-weight'

Morgan Stanley upgrades Reliance Communications Ltd to "equal-weight" from "underweight," citing improving outlook for the telecoms sector due to higher tariffs, falling capex, and "more attractive" valuations. ...  

J&K: Alleged Pakistani intruder gunned down at LoC

An alleged Pakistani intruder was gunned down at Naushara at Laam Sector by security forces on Monday. ...