BUSINESS
TCS Q2 earnings: 5 things to watch out for
Q2 earnings preview: TCS is expected to report a muted quarter, with PAT estimated to be up by 0.8 percent QoQ at Rs 11,162 crore
BUSINESS
Why co-founders are leaving Polygon and what its new version will be
Polygon co-founder Sandeep Nailwal said the world is moving to zero-knowledge proof and the startup's other co-founders are experts in this domain
BUSINESS
Polygon co-founder Jaynti Kanani steps down, starts up two new ventures
In 2023, Kanani has started two other startups in the new web and tech-driven content creation space.
BUSINESS
India is one of our fastest growing markets, we are investing heavily here: Canva co-founder Cliff Obrecht
A Canva spokesperson told Moneycontrol that the company has doubled its users in India in the past one year alone. Canva also launched its all-in-one comprehensive AI-design platform, ‘Magic Studio.’
BUSINESS
Internal deployment of talent at top Indian IT firms seen rising from last year
IT companies are slowing down hiring to improve margins and honour last year’s offers amidst an uncertain demand environment.
BUSINESS
Cost optimisation deals to drive of 45-50 percent of IT revenues in FY23-24
Deal closure timelines for the top 20 global IT services firms have gone up by 15-20 percent in FY23-24 compared to 2020 and 2021, according to UnearthInsight.
BUSINESS
Coinbase extends deadline for withdrawals for Indian users to October 31
Coinbase also said it is "committed to India over the long term" and will continue to explore ways to strengthen its presence in this important market"
BUSINESS
CitiusTech targets $1 billion in revenue, driven by acquisitions to build new service lines: CEO Rajan Kohli
CitiusTech is exploring acquisition opportunities to expand cloud, data on cloud and life sciences capabilities. In terms of size, Kohli said companies with $25-million revenue will be the sweet spot.
BUSINESS
MC Interview: We will double our India business in the next couple of years: NetApp’s George Kurian
The NetApp CEO told Moneycontrol that India is on track to become the company’s largest market in Asia over the next five years. Asia’s current revenue contribution to the global data management services firm is in the mid- to high teens.
BUSINESS
Want India to become our largest market in Asia, says NetApp CEO George Kurian
Kurian told Moneycontrol that the target would likely be achieved over a five-year period and the company would like to double India business over the next couple of years
BUSINESS
Foundational models of generative AI not good enough for enterprises: Genpact CEO
Genpact is currently working on 100 generative AI PoCs and plans to invest $600 million to develop the firm’s AI capabilities over the next three years
BUSINESS
Meta India head Sandhya Devanathan on WhatsApp monetisation strategy, key focus areas, more
Business messaging on Instagram, WhatsApp, and Facebook will be the next growth engine for Meta in India, she said.
BUSINESS
Wipro, Tech Mahindra, Infosys ride generative AI wave; see up to 30% productivity jump
IT companies say it's still too early to give a verdict on the impact on project delivery timelines but see greater promise, even as analysts express concerns about reduction in headcount
BUSINESS
WhatsApp Business' big India push: in-chat payments, paid verification, more
With over 500 million users, India is Meta’s biggest market in terms of user base for WhatsApp. The company is now looking to capitalise on its popularity and widespread adoption to drive monetisation for the world's largest messaging app.
BUSINESS
AI regulations have to be risk-based, driven by use case: IBM’s Sriram Raghavan
An AI engine which recommends the next shoe to buy and an AI engine that's going to decide whether or not you could get a loan don’t have the same risk profile, he said.
BUSINESS
India is Salesforce’s largest ecosystem of employees outside US: CFO Amy Weaver
Employees based out of India have played a key role in terms of working with the global support teams, and engineering and product development teams.
BUSINESS
G20 discussions on crypto leaves industry hopeful, as blanket ban unlikely
Crypto exchanges and industry experts welcomed IMF-FSB synthesis paper’s stance on reducing data gaps, focus on understanding the digital asset.
BUSINESS
A lot of IBM’s AI platform watsonx was built in India: Country head Sandip Patel
Despite the macro trends of slowing technology spending by customers of IT services and software companies, there hasn't been any slowdown in India for IBM, Patel said.
BUSINESS
Global Fintech Fest 2023: India’s attempt to become world’s fintech thought leader
GFF 2023 was bigger than it was in 2022 and next year promises to be even bigger. The fest provided a platform for anyone with a presence in finance, technology and banking and investing, to forge new ties and exchange new ideas.
BUSINESS
NPCI launches new UPI features to achieve 100 bn monthly transactions; details here
The new products include credit line on UPI, conversational payment mode ‘Hello UPI’, BillPay Connect, UPI Tap & Pay and UPI Lite X. Nandan Nilekani calls NPCI the crown jewel of India's technology sector.
BUSINESS
UPI aims for 2 billion transactions a day by 2030, credit to spur next growth wave: NPCI CEO Dilip Asbe
Asbe said that UPI's next big goal will be to process 100 billion transactions per month. His comments came a few days after UPI crossed the milestone of processing over 10 billion transactions in the month of August.
BUSINESS
India is becoming an alternative for a globally diversified resilient supply chain: Intel’s Steve Long
What is driving business for the company in India is domestic consumption, We see more people buying PCs, and more projects to give people access to technology coming from the government, Steve Long, Intel's general manager for the Asia Pacific and Japan (APJ), said
BUSINESS
LTIMindtree gives many employees 0-2% hike, after delay
This is a trend that has been seen with most IT services majors this year, including Infosys, HCLTech, and Tech Mahindra.
BUSINESS
Exclusive: CoinSwitch lays off 44 employees in customer support team, cites role redundancy
The development comes at a time when the crypto industry in India is grappling with regulatory uncertainty and high taxation, which is causing liquidity issue for both the players and investors.
