Bangalore

India’s Top Ten Business Schools Rated

Oct. 27 – Business India magazine has just released its tenth best business schools survey which ranks India’s top institutions. The top ten is as follows with the name of each school also linked to its website. 1) Indian Institute of Management, Ahmedabad 2) Indian Institute of Management, Bangalore 3) Indian Institute of Management, Calcutta

Toyota Looks to Benefit from Indo-Thai FTA

BANGALORE, Aug. 26 – Toyota Motors plans to utilize the proposed Indo – Thai free trade agreement to tag India as a hub for manufacturing its small size cars for export to the global market. While a few auto-parts already enjoy duty free status in India, the Indo- Thai FTA currently under negotiation is expected […]

Bank Employees Begin Strike Today

Aug. 6 – Employees of India’s private, overseas and state banks numbering more than 900,000 will begin their two-day strike today. An estimated 26 state-run banks, 10 private banks and eight foreign banks will be affected when its workers join the strike organized by the United Forum of Bank Unions (UFBU). “We seek expedition of […]

Nortel Opens Global Operations Center in Bangalore

May 18 – Nortel Networks opened its global network operations center in Bangalore to manage the networks of its carrier and enterprise customers in Europe, Asia and the Americas. This is the company’s fifth overseas network operations center. According to Suresh Kumar, Nortel Asia-Pacific vice president for managed service delivery, the company chose not to […]

Satyam Chief Admits to US$1 billion Corporate Fraud

Jan. 8 – In a case that some may liken to the scamster Bernard Madoff, Chairman of India's fourth-largest IT company Satyam, Ramalinga Raju resigned from his post and admitted to gross misrepresentation of the companies balance sheets. Satyam which is listed on both the Bombay Stock Exchange and the New York Stock Exchange admitted to being involved in the country's biggest corporate fraud involving about Rs 8,000 crore (US$1.6 billion).

Following the inflation of profits and assets, investors in Satyam Computer Services Ltd's American Depositary Receipts (ADRs) have filed two class action suits against the Indian software services firm. The company has been audited by PricewaterhouseCoopers since its listing on the New York Stock exchange.

Technology Companies Feel the Heat of the Financial Crisis

Oct. 24 – India's technology companies are feeling the heat from the global economic meltdown. "Our outlook is cautious in the near term given the extent of strain on the global economy," Azim Premji, chairman of Wipro Ltd. told the Wall Street Journal. Premji is pessimistic despite a sharp weakening of the Indian rupee, which helps tech companies that earn most of their revenue overseas.

A far cry from the 40 percent growth in revenues technology companies saw in the past few years, Tata Consultancy Services, India's largest IT company by revenue said revenue growth fell to 25 percent. Wipro's revenue on the other hand rose 36 percent on a year to your basis.

Kingfisher’s Spreading its Wings

Aug. 27 – Business tycoon and Indian Richard Branson Vijay Mallya has recieved the green signal from the ministry of Aviation to fly his recently acquired Deccan Air internationally. This marks India's third International flight service, following Air India and Jet Airways.

Kingfisher Airlines will to fly to Thailand, Singapore, San Francisco, London and the UAE, amongst other destinations. The airlines is expected to launch their service from Banglore to London, Heathrow on the 3rd of September, the Economic Times reported.

U.S. recession hits Indian IT companies

Infosys Technologies Ltd. Chief Executive Officer K. Gopalakrishnan, center, flanked by Chief Operating Officer S. D. Shibulal, right, and Chief Financial Officer V. Balakrishnan

April 16 – The U.S. recession might not affect the bouyant Indian economy, but India's IT services industry which sources a majority of its work from the west is showing signs of being hit.

On Tuesday, the Indian IT industrys' bellwether company, Bangalore based Infosys posted a lower than expected forth quarter profit. Net profit rose 9.2 percent to 12.49 billion rupees (315.04 million dollars) in the fourth quarter ended March, from 11.45 billion rupees. The profit missed analyst estimates of 12.6 billion rupees.