Oil markets remained focused on developments in the Middle East after Iran launched attacks on US military infrastructure in Gulf states Oil prices edged lower in early trade on Friday but remained on course for strong weekly gains as renewed military exchanges between the United States and Iran kept concerns over global crude supplies elevated.Brent…
NEW DELHI: In a bid to boost the domestic manufacturing of batteries and electronics goods, govt has waived basic customs duty on goods used in manufacture of display assemblies, lithium ion cell and inductor coil module.Among the three notifications issued by the finance ministry was one to exempt the basic customs duty (BCD) on the…
MUMBAI: Equity benchmark indices pared more than half of their intraday gains on Thursday after profit booking in the final hours, even as sensex and Nifty had staged a sharp recovery earlier in the session on bottom fishing and positive cues from foreign institutional investors.After a 1,677-point fall on Wednesday, sensex opened higher at 76,576…
NEW DELHI: Govt will assess whether the rapid adoption of AI is affecting pace of expansion of global capability centres (GCCs) in India, Electronics and IT secretary S Krishnan said on Thursday, while arguing that AI could ultimately help the country attract higher-value work.At a CII event, Krishnan said it was “time to start measuring…
Bloomberg has introduced a new electronic trading system that allows global investors to buy and sell Indian govt bonds more easily, marking an important step in opening up India’s bond market to the world. The company said it has completed its first fully-electronic trade in Indian govt bonds using this system. The new workflow enables…
AMSTERDAM: India has emerged as the global development hub for more than 85% of Philips’ artificial intelligence (AI) solutions for healthcare, underscoring the country’s growing role in shaping next-generation medical technologies even as the company bets on AI-enabled diagnostics to help address India’s shortage of advanced imaging services and trained specialists.The company said its Bengaluru…
MUMBAI: The Forum for Internet Retailers, Sellers & Traders (FIRST) has dragged Walmart-owned Flipkart Group to the Competition Commission of India (CCI), seeking a fresh investigation into the conduct of the company over practices designed to distort competition, benefit few preferred sellers and exclude scores of small retailers from the marketplace system.In its 157-page complaint…
India having 5,000 GCCs by 2030 is realistic, achievable: Sitharaman NEW DELHI: India is planning to tap into the growing global capability centre (GCC) market to make itself indispensable to the world’s knowledge economy, as finance minister Nirmala Sitharaman Thursday reiterated that the goal of building an ecosystem capable of supporting around 5,000 GCCs by…
Pathways School, Gurgaon, one of India’s prominent IB schools, is in the process of being acquired by KKR-backed Lighthouse Learning Group, formerly EuroKids International, for about Rs 1,500 crore. It is being counted among the largest transactions yet in India’s school education sector.Pathway Gurgaon is a single campus spread across 10 acres with 4.5 lakh…
BENGALURU: Fundamentum Partnership, the growth-stage investment firm co-founded by Infosys co-founder Nandan Nilekani and veteran entrepreneur-investor Sanjeev Aggarwal, has launched its third fund with a target corpus of Rs 2,200 crore, including a Rs 400 crore greenshoe option.Nilekani will anchor the fund as a limited partner (LP). Fundamentum said this marks his largest commitment to…
A growing number of leaders from India-based global capability centres (GCCs) are making their way into the Fortune 500 C-suite, underscoring the rising strategic importance of these centres and the influence of their leadership.Recent examples include Kalyani Sekar, senior vice-president and chief data and AI officer at Verizon; Hari Vasudev, executive vice-president and CTO of…
BENGALURU: TCS reported June-quarter revenue of $7.6 billion, up 2.7% year-on-year and largely flat sequentially. This reflects a cautious demand environment as global firms reassess technology spending amid macroeconomic uncertainty and rapid AI-led transformation. Revenue in constant currency, which discounts the impact of currency fluctuations, grew 0.4% sequentially and 3.2% year-on-year.The company reported a 2.7%…
