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Intel invests $23 Million in three Indian companies
New Delhi: Computer chipmaker Intel`s global investment arm Intel Capital has invested $23 million in three Indian companies, the firm said Wednesday. The investment is part of the $250-million Intel Capital India Technology Fund that the firm has set up. The investment will be in telecom value added service provider One97 Communications, online business-to-business (B2B) marketplace IndiaMART.com, and Global Talent Track (GTT), which provides training for jobs in the BPO sector. Intel d...Submitted by Sasmita | Rated 0
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Google, Motorola announce job cuts
San Francisco: Even mighty Google is feeling the effects of the global recession. The advertising and software giant is cutting 100 recruiting jobs and plans to shutter three engineering offices in Norway, Sweden and Texas, the company announced. Laszlo Bock, Google`s vice president of people operations, said in a blog post late Wednesday that since Google is now hiring at a reduced rate it needs fewer people to hire people. The company had a huge number of recruiters working as it scaled...Submitted by Sasmita | Rated 0
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Oracle lays off several hundred employees
Boston: Trimming work force is becoming a day-to-day affair for technology companies, as they are reeling under the recession. Now, it is reported that Oracle, the third largest software maker in the world has laid off several hundreds of its more than 86,000 employees. According to sources, the company has reduced its force of sales consultants who advise clients on how to integrate its business management software and database programs into their operations. The exact number of employe...Submitted by Sasmita | Rated 0
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Aegis plans to acquire Satyam`s BPO arm
New Delhi: Eying big profile clients of Satyam Computers in the offshoring business, Aegis BPO, Essar Groups` outsourcing arm is planning to acquire Satyam`s BPO operations. Aegis is expected to submit an expression of interest (EoI) to Satyam within two days, reported The Economic Times. A person close to the development said that Satyam BPO`s international clients and its presence in telecom, banking and financial services make it an attractive target. A top Aegis executive has confirmed t...Submitted by Sasmita | Rated 0
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India is a hot R&D destination
NEW DELHI: India emerges as the 2nd largest preferred destination for global R&D and innovation with US$12.9 billion of R&D investment b eing poured in India by 184 top R&D companies globally, a recent study reveals. Booz & Company’s fourth annual analysis of the world’s 1,000 largest publicly traded corporate research and development spenders found that companies making global R&D investments in India and China perform better because of the labour cost arbitrage and dominance of tale...Submitted by Sasmita | Rated 0
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TCS to focus on tier-two, three cities
Bhubaneswar: Making use of the opportunities in regional locations for future growth, India`s largest IT exporter Tata Consultancy Services (TCS) is planning to focus on tier-two and tier-three cities such as Pune, Nagpur, Gandhinagar, Kochi and Chandigarh. The company is discussing possibilities to set up development centers in these cities. The centers in Pune and Gandhinagar are expected to be set up by the end of this year, while the other centers are scheduled for the second phase. "T...Submitted by Sasmita | Rated 0
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Oracle India prefers hour-based payment
Bangalore: IT employees may have to cope with strategies being adopted by the companies to counter the economic downturn. Now, it`s regarding their salary. Oracle, world`s second largest software products company is transforming its payment mode by making the salary of its 20,000-odd employees in India according to the productive hours they spend in the company, reported Business Standard. Company sources said that if an employee is a billable resource for 15 days a month, he will be pa...Submitted by Sasmita | Rated 0
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Progress Software, IIIT Hyderabad sign MoU
Hyderabad: Ramesh Loganathan, Managing Director, Progress Software and Dr. Rajeev Sangal, Director, Indian Institute of Information Technology, Hyderabad (IIIT-H) signed a Memorandum of Understanding (MoU) to provide the industry framework for technology at the Center for Innovation and Entrepreneurship (CIE) lab of IIIT-H. "The commitment and support extended by Progress Software to academic entrepreneurship moves us a step closer towards developing ideas and converting them into technolog...Submitted by Sasmita | Rated 0
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Export sector may lose 10 Million jobs by March
New Delhi: Nearly 10 million workers across management levels in the export sector may lose their jobs by March this year due to the global economic slowdown, a top official of an Indian exporters` body said here Tuesday. "Owing to recession and high interest rates, 10 million jobs could be lost in the export sector in India between January and March 2009," said A. Sakthivel, president of the Federation of Indian Export Organisations (FIEO). "Already a million jobs have been lost and ther...Submitted by Sasmita | Rated 0
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Wells Fargo completes Wachovia purchase
Wells Fargo & Co said it has completed its roughly $12.7 billion purchase of Wachovia Corp, a big bet that it properly assessed the risks in Wachovia`s huge book of mortgage and real estate loans. The merger closed on Wednesday and more than doubles the size of Wells Fargo, creating the fourth-largest USbank by assets. Wells Fargo also has the nation`s largest branch network, with more than 6,600 offices in 39 states and Washington DC, and one of its largest retail brokerages. San Franci...Submitted by Sasmita | Rated 0
