BUSINESS
India IT spending to reach $110.3 bn in 2023 amid global slowdown
Globally, IT spending is projected to total $4.5 trillion in 2023, an increase of 2.4 per cent from 2022 -- down from the previous quarter's forecast of 5.1 per cent growth, according to the latest forecast by Gartner. While inflation continues to erode consumer purchasing power and drive device spending down, overall enterprise IT spending is expected to remain strong.
Delhi HC asks Ashneer Grover to file undertaking in suit filed by BharatPe's co-founder Bhavik Koladiya
To that, Grover informed that subject to further directions from the court, he will not make any third party interest in the 16,110 shares that Koladiya transferred to him and in any rights that accrue to him as a consequence thereof.
Sundram Fasteners to invest Rs 200 crore to cater to $250 mn export order
According to Sundram Fasteners, the company has been awarded $250 million contract by a leading global automobile maker to supply shaft sub-assemblies and drive gear sub-assemblies for its EV platform. The city based Sundram Fasteners said it plans to invest Rs 200 crore to support the new orders under the six-year
Vodafone Idea to lose market share to others in India
The crisis faced by the company offers an opportunity for competitors like Bharti Airtel and Reliance Jio to gain market share, the report said .Giving a 'sell' recommendation to the investors CLSA said despite a four-year interest moratorium, Vodafone Idea's financial crisis is deepening, and government conversion to equity
India should leverage G20 presidency to seek openness towards service exports: Raghuram Rajan
In a television interview during the ongoing World Economic Forum (WEF) meeting at Davos, Rajan said that too much investment is going towards chip making globally, which could lead to a glut. He also pointed out towards possible risks for India economy due to opening up of China. India is doing well in service export, the former RBI Governor said.
German inflation reaches record 7.9% in 2022
Crisis-related effects, such as supply bottlenecks and significant price increases at economic upstream stages, were "characteristic of the entire year", Destatis President Ruth Brand said in a statement. Energy prices rose 34.7 per cent year-on-year, with prices for heating oil and natural gas
Maruti Suzuki recalls 17,362 vehicles for faulty airbag controller
The company is recalling the models rolled out between December 8, 2022, and January 12, 2023. It is suspected that there is a possible defect in affected part, which in rare case might result in non-deployment of the airbags and seat belt pretensioners, in the event of a vehicle crash.
Fiscal consolidation expected on the back of lower subsidy payments
"We expect fiscal consolidation on the back of lower subsidy payments, which will also ensure that focus on public capex spending is sustained, thus supporting the growth outlook," the report said. Expenditure ratio is expected to moderately driven by lower subsidy spending, mix of expenditure to improve.
Microsoft to lay off nearly 11K employees this week: Report
Sky News reported that Satya Nadella-run company is "finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown". Microsoft employs more than 220,000 people, including 6,000 in the UK.
Formulate policy on carrying pets on flights, DGCA to airlines
According to the regulator, the International Civil Aviation Organisation (ICAO) has not yet issued any guidelines with regard to carrying pets in passenger compartments. The Federal Aviation Administration (FAA) in the US has permitted its airlines to have their own respective policies for carriage of pets in the cabin.
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