BUSINESS
Wipro records gross revenue of Rs 215.3 billion in Q1
In its financial results, announced under International Financial Reporting Standards (IFRS) for the first quarter ended June 30, the IT services segment revenue was at $2,735.5 million, an increase of 13.3 per cent, while Non-GAAP2 constant currency IT Services segment revenue increased by 2.1 per cent QoQ and 17.2 per cent YoY.
Pakistan rupee, stocks sink due to political uncertainty; Fitch downgrades rating
The growing political temperature has also created a non-time bound political uncertainty in the country. Fitch Ratings downgrading Pakistan's economic growth came with reference to Pakistan's agreement with the International Monetary Fund (IMF) to impose tough measures to increase tax base in the country, aimed at the revival of the Extended Funding Facility (EFF) programme.
Cloud adoption can add $380 bn to India's GDP, create 14 mn jobs: Nasscom
However, India may lose $118 billion in GDP contribution and five million job opportunities by 2026 if businesses and government are late to Cloud adoption, the report warned. With global players heading towards new systems like 3D printing, IoT, robotic automation, slow or low adoption in Cloud may result in Indian industries losing competitive edge and India may lose its attractiveness among investors, expats and new businesses.
Britain's inflation hits fresh 40-year high as fuel, food prices surge
On a monthly basis, the country's CPI rose by 0.8 per cent in June 2022, compared with a rise of 0.5 percent in June 2021, according to the Office for National Statistics (ONS). The increase in annual inflation was driven by rising fuel and food prices, and these were only slightly offset by falling second-hand car prices, said Grant Fitzner, ONS chief economist.
Noida Supertech Twin Towers to be demolished on August 21
On Tuesday, a meeting was held between Noida Authority and Edifice Engineering company in which people from the apartment association were included. Edifice Engineering has submitted a report in which it said the twin towers will be demolished at 2.30 p.m. on August 21. During the meeting, Edifice Engineering provided information about preparations for demolishing the towers What has been done and what is left.
Twitter can also be made liable for fraudulent disclosure on bots, thinks Musk
In a tweet to Musk, a follower wrote to Musk that under the SEC Rule 10b-5, Twitter "can be liable for omissions of or misleading material facts. Waiving due diligence does not mean you have to accept a fraudulent disclosure (understated bots)". To establish a claim under Rule 10b-5, plaintiffs (including the SEC) must show manipulation or deception (through misrepresentation and/or omission), among other rules.
Maruti Suzuki India's mid-sized SUV Grand Vitara for global markets
At the global unveiling of the new SUV here on Wednesday Hishashi Takeuchi, Managing Director and CEO told the media that the new model will be produced only in India and will be exported to different markets. He also said the mid-sized SUV will be exported to Middle East, South American and African countries and it will not replace any other model anywhere in the world.
India's largest floating solar power project becomes operational in Telangana
Energy conglomerate National Thermal Power Corporation (NTPC) has set up the 100 megawatt (MW) plant through Bharat Heavy Electricals (BHEL) under Engineering, Procurement and Construction (EPC) contract. With the commercial operation of the final part capacity of 20 MW, the plant has been fully commissioned at Ramagundam in Peddapalli district.
Over 13 lakh electric vehicles in use in India: Centre tells Lok Sabha
Krishan Pal Gurjar said that the Centre is taking a number of steps to promote use of electric vehicles in India. The minister, in his reply, said that the government introduced the Faster Adoption and Manufacturing of (Hybrid and Electric Vehicles in India (FAME India) scheme in 2015 with an aim to reduce dependency on fossil fuels and address issues of vehicular emissions. At present, Phase-II of FAME India Scheme is being implemented for a period of 5 years with effect from April 1, 2019 with a total budgetary support of Rs 10,000 crore, he added.
CBI wanted to know about Ken Fong's letters: Sucheta Dalal on NSE scam case
In her statement to the media, Dalal said she had told everything to the CBI. She said that Abhinav Khare, SP CBI, and Pushpal Paul had contacted her to seek the information. "Just before the New Delhi meeting, I was told that they wanted to record my statement before Pushpal Paul. On asking Mr Khare, he told me that it was about 'Ken Fong'. This is the name used by the whistleblower.
Don't Miss
Advertisement