BUSINESS
AI will improve productivity, jobs in IT industry won't be significantly hit: Kris Gopalakrishnan
Infosys co-founder and Chairman of Axilor Ventures says every wave of technology has grown the IT industry. AI is one such wave. The IT industry, he says, is mature, and depending on the global economy. it will continue to grow by 5-15%.
BUSINESS
Around 55-57% of crypto assets can be returned to users after restructuring: WazirX’s legal advisors
WazirX’s users are unlikely to get full recovery of their crypto portfolio immediately after restructuring. The exchange is also exploring additional options to return more funds to the users.
TECHNOLOGY
Exclusive: Former AWS country head Vaishali Kasture joins Microsoft, to lead SMC business in India and Asia
Vaishali Kasture will be the second top executive to depart from AWS to Microsoft in the last year, as the companies compete to get a larger share of the cloud business in India.
BUSINESS
Hacked crypto exchange WazirX in talks with 11 global exchanges for capital infusion; signed NDAs with three
“Three NDAs have been signed to date with prominent cryptocurrency exchanges with user bases in the range of 12 – 100 million users and between around $5 million and approximately $1.5 billion in daily trade volume,” CEO Nischal Shetty said.
BUSINESS
TCS extends technology partnership with global fashion retailer Primark
TCS will help transform Primark’s technology operations to support the retailer’s ambitious plans for global growth
BUSINESS
Women earn 22-30% less than their male colleagues in popular tech jobs: TeamLease report
Even at the fresher levels, women are earning around 15.38 percent lower salaries as compared to men
BUSINESS
GCCs pay 12-20% higher salaries for tech roles as compared IT companies: Teamlease report
There are another 800 new GCCs set to come up in the next five-six years increasing India’s prominence as the global tech hub. Many of these GCCs will be in tier-II cities like Kolkata, Ahmedabad, and Vadodara, driving geographical diversification and employment in these locations.
BUSINESS
Inside ONDC’s financial services game plan over next 18 months
The network is set to roll out full-suite of B2B and B2C financial services including insurance, mutual funds and credit cards; and some unique ones like crop yield financing and cow financing.
BUSINESS
Former Tech M veteran Jagdish Mitra launches GenAI SaaS startup, to hire 800-1,000 people over 5 years
The startup’s product will be rolled out in the market in the next five to six months, Mitra has told Moneycontrol
BUSINESS
After CEOs, it’s time for CFO changes at top IT firms
According to industry experts, while some companies saw a seasonal transition of CFOs due to retirement, for many others, the appointments highlighted the changing nature of the CFO role.
BUSINESS
WazirX laptops were not compromised, says third party forensic report after $230-mn hack
Hacked crypto exchange WazirX hired Google subsidiary Mandiant to conduct third party forensic tests on its systems that were a part of the recent cyberattack.
BUSINESS
Top 5 Indian IT companies see 5.6% YoY jump in revenue per employee in FY24
Infosys was the only IT company with $10-billion-plus revenue to see a double digit YoY RPE growth as well as in terms of 6-year aggregate compound annual growth rate RPE, which was around 13.1 percent.
BUSINESS
AI brings tremendous opportunities for SMEs, says Tally Solutions’ Nabendu Das
Tally is working on building AI-based solutions to let customers have conversations with data and auto-generate invoices, which earlier had to be entered manually, says chief of engineering Nabendu Das
BUSINESS
IT companies set up dedicated GCC Strategic Business Units as demand booms
Experts say IT firms are aggressively positioning themselves to tap the opportunities presented by the GCC boom.
BUSINESS
WazirX and its partners face NCLT petition over $230 million crypto theft
WazirX told Moneycontrol that it will be responding to the petition and “strongly denied” any allegations of fraud.
BUSINESS
CoinDCX forms Rs 50-cr crypto investor protection fund after WazirX hack
“I think the case that happened in WazirX was very unfortunate. People don't like to keep 50 percent (in one wallet) because you don't put all the eggs in one basket,” CoinDCX CEO Sumit Gupta told Moneycontrol.
BUSINESS
Top ER&D services firms report sequential decline in Q1 revenue
The ER&D services space is also seeing an onslaught of heavy weights joining in and expanding with IT services majors like Cognizant beefing up with the $1.3-billion Belcan acquisition or HCLTech’s ASAP Group acquisition recently.
BUSINESS
WazirX hack: Crypto exchange drops plan to socialise losses after backlash
Last week in an interview with Moneycontrol, WazirX’s founder and CEO Nischal Shetty had shared that he is in talks with most major global exchanges for support and to look for a potential buyer.
BUSINESS
Crypto industry body BWA to create internal groups for cybersecurity, consumer issues after WazirX hack
The crypto industry body has said it will also review and update its existing consumer code in the wake of the cyberattack
BUSINESS
Sent records to CERT-In, in touch with FIU, regulators: WazirX’s Nischal Shetty
Following the $230-million security breach in one of its multisig wallets and losing 45% of its holding assets, WazirX’s founder and CEO Shetty is in talks with global peers for support or finding a potential buyer.
BUSINESS
Distress call: Hacked WazirX dials Binance for lifeline
As of July 18, Binance held WRX tokens worth around $80 million
BUSINESS
Jobs Ahoy! Top 5 Indian IT companies to add 88,000 freshers this fiscal
The country’s largest software exporter Tata Consultancy Services will account for nearly half of these, as it plans to hire around 40,000 freshers in FY25
BUSINESS
Tech Mahindra adds 2,165 employees in Q1FY25
The company added around 1,000 freshers in Q1, and will be going for campus hiring this year to meet its fresher addition target of 6,000 for FY25.
BUSINESS
WazirX’s $230-mn hack will stall the crypto industry’s progress with regulators
Around 33 percent of crypto users in India have accounts and hold balances with the digital assets exchange.
