Bangalore, Oct 30 : Indian IT bellwether Infosys Wednesday agreed to pay $34 million (Rs. 208 crore) to resolve charges of misusing B-1 visas levelled against it by the US State Justice Department.
"We have agreed to pay $34 million to resolve all allegations for which we have taken a reserve of $35 million, including attorney's fee. The settlement is focused on I-9 paperwork errors from 2010-11 that we began correcting before the investigation began," the global software major said in a statement here.
Bangalore, Oct 29 : Swedish automobile major Scania Commercial Vehicles Tuesday opened its maiden manufacturing facility in Narsapura, near here. The plant has come up with an initial investment of Rs. 250 crore.
The company's new plant, inaugurated by Karnataka Chief Minister S. Siddaramaiah, will manufacture about 2,500 heavy haulage trucks, besides 1,000 inter-city buses and coaches annually.
"Today marks the beginning of a new era for us in India, and it is our largest industrial footprint in Asia so far," said Martin Lundstedt, president and chief executive, Scania Global.
Bangalore, Oct 29 : Leading IT product design firm Tata Elxsi posted a Rs. 20 crore net profit for the second quarter (July-Sept) of this fiscal (2013-14), registering a 10-fold growth year-on-year (YoY) from Rs. 1.8 crore in the like period a year ago.
"Sequential growth, however, is 22 percent from first quarter (April-June) of this fiscal (FY 2014)," the $100-billion Tata group company said here in a statement Tuesday.
Bangalore, Oct 25 : Low-cost carrier SpiceJet Friday launched a direct service to Bangkok from here to fly mainly business and leisure travellers to one of the popular holiday destinations in southeast Asia.
Operating the service four days a week - Friday, Sunday, Monday and Wednesday - in both directions, the private airline has priced the one-way fare at Rs. 7,999 and offers connections from other cities on its network through Bangalore.
Bangalore, Oct 24 - India's 94-year-old legendary playback singer Manna Dey passed away after a prolonged illness in the wee hours of Thursday at a private hospital on this city's outskirts.
"Dey breathed his last around 4 a. m. after his condition suddenly deteriorated in the wee hours though he was on a ventilator," K. S. Vasuki, spokesman of Narayana Hrudayalaya, told IANS.
Dey, who was ailing for over four months, leaves behind two daughters Rama and Sumita.
Bangalore, Oct 18 : IT bellwether Infosys Ltd Friday announced it has won the 'Corporate Sustainability Stewardship' award for efficient management of energy, waste and water resources in its production processes and operations.
The Parivartan sustainability leadership awards, instituted by Sustainability Outlook, a not-for-profit social organisation, recognise corporates and their executives who contribute in the field of sustainability every year.
Bangalore, Oct 11 : Infosys Ltd posted Rs. 2,407 crore net profit for second quarter (July-Sep) of this fiscal (2013-14), registering a marginal increase of 1.6 percent year-on-year (YoY) as per the Indian accounting standard.
In a regulatory filing to the stock exchanges Friday, the IT bellwether said consolidated revenue for the quarter under review (Q2) jumped 31.5 percent YoY to Rs. 12,965 crore (Rs. 130 billion).
Sequentially, net profit grew 1.4 percent and revenue 15.1 percent from first quarter (April-June) of this fiscal (FY 2014).
Bangalore, Oct 10 : Leading integrated technology firm iGate Corporation reported $32 million net income for third quarter (July-September) of calendar year 2013, registering an increase of 13 percent year-on-year (YoY) from $28 million in same period last year.
Net income grew sequentially 6.3 percent from $30 million in second quarter.
Bangalore, Oct 5 : India's sagging economy would recover from stress in the second half of this fiscal to return to high growth over the next two years, Finance Minister P. Chidambaram said Saturday.
"The country's economy will recover from stress this fiscal (2013-14) as it has enough the capacity to get over it to post higher growth than last fiscal (2012-13)," Chidambaram said on the margins of a bank function here.
Bangalore, Oct 3 : Infosys Ltd Thursday signed a multi-year contract with Japanese auto major Toyota Motor to manage its IT services in Europe.
"The four-year deal envisages deployment of a managed service model, covering applications across Toyota's operational areas in Europe, including automotive processes to enable its IT employees focus on business and project development," the global software major said in a statement here.
The IT bellwether has been a key partner of Toyota for its pan-European projects and transformation delivery services.
Bangalore, Oct 3 :Global software major Wipro Ltd Thursday shuffled its senior executives to capitalise on the growth momentum picking up in the US and European economies.
As part of the rejig, senior vice-president Shaji Farooq has been appointed as global head of its banking, financial services and insurance (BFSI) strategic business unit in place of Soumitro Ghosh, who will head Wipro Infotech, which looks after the India and Middle East business.
Bangalore, Oct 1 : Prime Minister Manmohan Singh is a good man but is controlled by the Gandhi family, Punjab Deputy Chief Minister Sukhbir Singh Badal said Tuesday.
Badal also asserted that the National Democratic Alliance (NDA) would win majority on its own in the next parliamentary elections, courtesy a "tsunami" in the shape of Narendra Modi.
Noting that indecisiveness and lack of leadership in the United Progressive Alliance (UPA) had resulted in the collapse of governance and economy, he said Manmohan Singh was cut off from reality and does not have freedom of action.
Bangalore, Sep 20 : Leading IT solutions provider Mindtree Ltd Friday unveiled a video management software for surveillance of cities, enterprises, industrial and retail sectors.
"Our latest video management software product - Gladius - is a one-stop solution for security and surveillance requirements of small and mid-sized customers," the city-based Mindtree' chief technology officer S. Janakirman said in statement here.
Besides providing multiple benefits like scalability, video analytics, smart video streaming, the product can be unified with video data, access control events and alarms.
Bangalore, Sep 16 : Karnataka sought overseas investments in the infrastructure sector and latest technology to improve productivity in the farm sector, Chief Minister Siddaramaiah said Monday after returning from a week-long visit to China.
"As we need huge investments in infrastructure projects to grow our economy in double digit, we held a road show Sep 13 at Dalian on the investment opportunities in the state and policy initiatives to attract global investors," Siddaramaiah told reporters here.
Bangalore, Sep 7 : Indian IT bellwether Wipro Ltd has tied up with the US-based Kana Software to provide customer service solutions to its global insurers through a joint development centre, the company said Saturday.
"As a strategic partner, we have been certified to use Kana's technology for enhancing customer service of its global insurers through our joint development centre," the global software major said in a statement here.
The partnership also provides Kana with systems integration scalability, as Wipro has presence across 57 countries worldwide.
Bangalore, Sep 7 : Reiterating her decision to skip the Japan Open Super Series in Tokyo later this month, World No. 4 Saina Nehwal said she needs more than two weeks of rest to recover after the hectic Indian Badminton League (IBL) that concluded Aug 31.
“Two weeks are not enough for my body to recover and so I am not playing Japan Open. It will not affect my ranking. I do not have any points to defend since I didn’t play there last year also,” the 23-year old said here Saturday.
Bangalore, Sep 4 : HCL Technologies will manage customer care operations, including residential billing of Direct Energy services firm in North America, the company said Wednesday.
As per the agreement signed by the two entities, HCL will provide infrastructure hosting, application management and business process services to the US energy firm.
Bangalore, Sep 4 : Noted Indian homeopath Mukesh Batra has been honoured with Asia's "most promising leader" award at a recent function in Dubai in the United Arab Emirates (UAE) for pioneering work in healthcare, using natural medicine.
Dubai's Global Village chief executive Saeed Ali Bin Redha presented the award to Batra at Asia's most promising brands 2012-13 on Aug 26, in the presence of about 300 leaders from 18 Asian countries, representing diverse sectors.
Bangalore, Sep 3 : Global software major Wipro Ltd will ramp up its headcount in the Nordic region in northern Europe to have 500 techies over the next three years, the IT bellwether said Tuesday.
"As Nordics is set to emerge as an important growth markets for us, we are committed to investing in the region to serve our customers across industry verticals," Wipro's chief sales and operations executive Rajat Mathur said in a statement here.
The five northern European countries -- Denmark, Finland, Iceland, Norway and Sweden -- form the Nordic region.
Bangalore, Sep 2 : Indian IT bellwether Wipro Ltd Monday unveiled a novel initiative to impart soft skills to undergraduate students across the country to improve their employability in back-office operations and other services sectors.
"The Wipro integrated skill enhanced (WISE) programme is currently offered to undergraduates at Techno India group in Kolkata on a pilot basis and will be extended nationwide to train about 5,000 students by this fiscal-end (2013-14) in cities and towns," the global software major said in a statement here.