BENGALURU: Senior employees of TCS saw significant reductions in their quarterly variable pay for the Sept quarter, receiving 20-50% of the payout even though they fulfilled the mandatory office attendance criteria.“HR has told us that they are not aware of why this has happened. For some other accounts, the message has gone through a project…
BENGALURU: Finance minister Nirmala Sitharaman on Saturday increased the lending target for public sector banks in lending to micro, small and medium enterprises (MSME) the current financial year by nearly 35%, while assuring that no small business will be denied access to funding.“I want to set a new target… I want to add Rs 1.5…
MUMBAI: The Singapore govt is in talks with the Tata Group for a partnership to develop semiconductors. Senior Singapore govt officials, led by minister for law and home affairs K Shanmugam, met group chairman N Chandrasekaran this week to discuss semiconductors.Despite its small size, Singapore has 25 foundries and a robust semiconductor value chain. India…
In a scathing critique aimed at companies prioritizing shareholders over employees, Zoho founder Sridhar Vembu condemned Freshworks for its recent workforce cuts and stock buyback plan. Though he did not explicitly name Freshworks, his remarks on X (formerly Twitter) closely followed Freshworks’ latest financial moves—layoffs of 660 employees and a $400 million stock buyback, which…
NEW DELHI: India’s decision to purchase Russian oil during global market instability helped avert potential global price surges, according to Union petroleum and natural gas minister Hardeep Singh Puri.In a conversation with CNN’s Becky Anderson at ADIPEC in Abu Dhabi on Thursday, Puri said that global oil prices could have reached 200 dollars had India…
NEW DELHI: India will have the maximum number of Trump Towers outside of US-president elect’s “The Trump Organisation” home country. From four all-residential high-rise luxury residential Trump Towers in Mumbai, Pune, Gurgaon and Kolkata, the number will swell to 10 in the next six years with many more projects – including office, golf course and…
NEW DELHI: Govt-owned Solar Energy Corporation of India (SECI) has banned Anil Dhirubhai Ambani Group‘s Reliance Power and its subsidiaries from bidding for any of its contracts for next three years on charges of submitting a fake bank guarantee (BG).In a statement on its website, the PSU, which is one of the renewable energy implementing…
MUMBAI: The sensex on Thursday tanked 836 points as the euphoric rally stemming from Trump’s win in the US presidential election dissipated. The benchmark index retreated below the 80K mark again to settle at 79,541 points as foreign portfolio investors offloaded Indian equities worth Rs 4,889 crore. On the other hand, domestic institutional investors remained…
MUMBAI: The rupee dropped to a fresh low against the dollar on Thursday, pressured by sales from foreign portfolio investors in the equity markets and a stronger dollar, amid expectations that Donald Trump’s US presidential win would boost the American currency. The rupee touched 84.38 during the session before settling at 84.37, marking a 0.1%…
MUMBAI: RBI governor Shaktikanta Das said Oct inflation numbers would be worse than 5.49% headline in Sept. The governor also indicated that he was not in any hurry to cut rates, stating that a change in stance does not mean an immediate reduction in interest rates. According to Das, the data on economic growth was…
