Aug 22, 2017 - LIC to consult Finance Ministry on Infosys

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Sree Vijaykumar From the Editor's Desk The 50-year-old was a rank outsider to the Indian IT industry when Infosys appointed him CEO. Sikka's style of working and areas of expertise were unlike those of the other bigwigs in the sector. Sikka holds a PhD in artificial intelligence from Stanford University. He joined SAP in 2002 and was appointed its chief technology officer (CTO) in March 2007. Three years later, he became a part of its executive board and managed up to $8 billion of its revenues. He is known as the "father of HANA," SAP's fastest-growing product ever - in 2014, this platform was generating over $1 billion in revenue. In November that year, I first heard Sikka talk about the Indian IT industry. In a video address at an industry event, he vehemently voiced his displeasure at what he saw: "I was not deeply familiar with the services industry until recently. I find all of us in the industry on a downward spiral.. It's like a treadmill of increasingly lower cost, hiring people faster and faster, from more and more mediocre places, training people less and less, putting them into (a) job faster and faster. I think that is a wrong direction." More here. Introducing TradeBriefs SME - Print edition - Subscribe Now! | Sample copy Advertisers of the day Standard Chartered Bank (Personal Loans): Your dream holiday is now closer than ever On behalf of SAP India: Identify the perfect SAP solution for your business in 3 easy steps shivkhera: Optimize Performance and Move Up to the Next Level : Programs by Mr. Shiv Khera   Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails (B2B Decision-Makers, B2C Decision-Makers, TradeBriefs Premium). LIC to consult Finance Ministry on Infosys In all boardroom battles for control of a business, the corporation has until now supported the promoters. Advt: Lending solutions for all your long-term business needs No company starts big. They grow over time. Standard Chartered will be your companion in this growth journey, giving you solutions that fit your needs at every stage (Know More) Advt: Work for the best employer - Yourself Advantages - Best B2B audience in India, no hard-selling or up-front costs involved, access to our content repository and air-tight agreements with instant gratification. RBI moves forward to battle rupee flood RBI is stuck with a banking system inundated with copious rupee liquidity, a direct flood caused by demonetisation With attacks soaring, India races to regulate cryptocurrencies Policy makers in Asias third-largest economy, still reeling from a self-inflicted ban on high denomination notes last November, wanted to weigh their options to regulate virtual money. 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A realistic energy policy cannot be purely top-down or ‘national’ but must also incorporate multiple smaller policies Before Vishal Sikka exit, mutual funds had hiked Infosys share holdings For domestic mutual funds, Infosys was by far the largest holding among IT firms with allocations of Rs21,094 crore by them collectively at the end of July; Vishal Sikka’s resignation prompted a slew of downgrades from various brokerages Promoters of the 200 delisted firms told to buy back shares Whole-time directors, promoters & group cos will also be debarred from securities market for 10 yrs. Government to sell 4 dated securities for Rs 15,000 crore on August 24 The result of the auctions will be announced on August 24 and payment by successful bidders will be on August 28. ItzCash parent buys international remittance biz YouFirst Money Express An agent for Western Union, YouFirst provides international money transfer services in India. 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Reuters quoted a report by the US department of agriculture (USDA) as ...sp; Furniture retailer The Bent Chair in expansion mode, set to open studios pan India The Bent Chair, a young and rapidly growing Indian furniture and accessories e-tailer, has just revealed plans to open 20 new studios and partner with around 30 retail brands across India.In an ex V-Mart Retail zooms 19% after Q1 net profit more than doubles The stock hit a new high of Rs 1,459, surges an over 200% so far in 2017, against 18% gain in Sensex Consumer confidence in India drops in April-June: Nielsen Nielsen survey for June quarter flags job prospects and security All 169 McDonald’s stores face closure in North East, thousands of jobs at risk The development could not only wipe out the burger and fries chain in half of India, but also puts in peril contracts of suppliers running into crores. FMCG dealers seek to recover GST cost from companies “There is a minor working capital cash shock for the dealers in the month,” said a source, adding that industry is still grappling with the fine print of this major tax reform. Basmati overtakes buffalo meat as top export commodity After lagging behind for three years in a row, basmati rice has regained as the top commodity in terms of exports from India, thus scoring over buffalo meat in the quarter ending June.Since the financial year 2014-15, exports buffalo meat had been Innovate Foods to open plant by Dec in Chittoor food park The facility is expected to be operational by the end of the year and will manufacture their new range of frozen parathas and various other products. GST pulls down India Inc net by 15.7% to Rs 87475 crore in Q1 According to an analysis of 2,108 companies by credit rating agency Care Ratings, the corporate net profits stood at about Rs 1.04 lakh crore in April-June period of 2016-17. Typhoo Tea targets Rs 100 cr revenue in India in 3-4 years Institutional sales contribute around 40 per cent of its Indian revenues, while 10 per cent comes from online. Chaayos plans to expand tea range, open more stores in India Chaayos CEO Nitin Saluja says launching Chai Pattis to help customers enjoy top selling Chaayos Chai at the comfort of their homes Coca-Cola India widens portfolio to include whipped frozen fruit snacks India’s ice cream and frozen desserts market is projected to grow at an annual rate of 11 percent,which will come to Rs 17,000 crore by 2021. UBL eyes 25% share in imported beer market in next 18 months The Bengaluru-based company has introduced in India five brands -- Sol, Edelweiss, Affligem, Dos Equis and Desperados -- from Heineken's stable in select cities like Delhi, Mumbai and Hyderabad. McDonald's likely to challenge NCLT order on Vikram Bakshi With no signs of resolution of the conflict between the company and its JV partner in sight, 43 outlets of the fast food chain in the Capital continue to remain closed. Amazon is well positioned to overtake Flipkart This story was delivered to BI Intelligence... Flipkart Global: Ecommerce Marketplace Ties Up With EBay To Reach International Markets Flipkart has launched a global programme to allow its sellers to sell to customers globally in partnership with eBay. E-commerce is here to stay as consumers are moving online: Infibeam CEO In India if you acquire a customer in e-commerce by making a loss once then it is very hard to make profit from the same customer, says Infibeam CEO Vishal Mehta TradeBriefs Publications are read by over 10,00,000 Industry Executives India Business Brief | India Retail News | India Food Brief | India Telecom Brief | India Finance Brief | India Software Brief | India Digital Brief | India Ecommerce Brief | India Franchise Brief | India HR Brief | India Logistics Brief | India Construction Brief About Us  |  Advertise Privacy Policy    Unsubscribe You are receiving this mail because of your subscription with TradeBriefs. Our mailing address is GF 25/39, West Patel Nagar, New Delhi 110008, India