BUSINESS
Bullish on India | Why India will be the AI talent hub of the world
According to Nasscom’s State of Data Science and AI Skills report, India has16 percent of the world’s AI talent pool and one of the largest annual STEM supply lines, with 2.25 million graduates.
BUSINESS
Cricket Australia extends ties with HCL Tech to speed up digital transformation
Under this contract, HCL Tech will help CA to offer immersive digital experiences to fans, players and partners globally
BUSINESS
HCLTech seeing highest ever deal pipeline, led by large and long-term deals: CFO Prateek Aggarwal
The $2.1 billion Verizon Business deal is HCLTech's single largest services deal to date, and a milestone for the company, said Anil Ganjoo, chief growth officer, Americas.
BUSINESS
Indian IT firms may face modest impact from Moody’s downgrade of US banks
According to analysts, tech spending has already bottomed out for the IT industry compared to its normal levels, any further worsening in the BFSI vertical will now only have a moderate effect
BUSINESS
IT deal closures face delays as clients seek pre-pandemic pricing, discounts
Discount asks have climbed to 50 percent of new deals but companies are agreeing in 30 percent of the instances, citing cost pressures
BUSINESS
Tech Mahindra appoints former Infosys and CitiusTech executive Atul Soneja as COO
Soneja, a former senior executive at CitiusTech and Infosys, joined the company after another former Infosys president Mohit Joshi joined Tech Mahindra as CEO and MD designate
BUSINESS
Govt mulls extension of 3-4 months to implement laptop, PC import curbs: Sources
The development comes hours after Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar said "there will be a transition period" with the details coming out soon
BUSINESS
Laptop industry body seeks six months to implement import restrictions
Manufacturers including Dell, HP, Apple, Lenovo and Asus are in deliberation with the industry body MAIT, will be sending representation to the government by August 5.
BUSINESS
Laptop, PC import restrictions will lead to near-term price hikes, industry disruption: Experts
Industry analysts told Moneycontrol that while this was long expected, the suddenness of the move could disrupt the industry
BUSINESS
How Ethereum co-founder Vitalik Buterin’s ‘joke coins’ helped Sandeep Nailwal build a $213-mn initiative
Started by Polygon co-founder Sandeep Nailwal as Crypto Relief Fund in 2021 during COVID times, it was rebranded as Blockchain for Impact on July 30, with Buterin attending the event. BFI will now fund healthcare projects, with a 10-year plan.
BUSINESS
StrideOne in talks to acquire investment platform LetsVenture
StrideOne, an NBFC, sees synergies in getting access to LetsVenture’s network of 18,000 angel and institutional investors to offer more financial solutions to its startup ecosystem, according to sources.
BUSINESS
TCS CEO Krithivasan’s new operating structure gets mixed response from industry experts
According to analysts, former CEO and MD Rajesh Gopinathan’s structure led to unrest among senior executives and confusion among customers. But neither are they sure how the new vertical-wise structure will help TCS navigate the shifting shape of today’s industry.
BUSINESS
TCS reverts to vertical-based operating structure in first major change under new CEO
Moneycontrol had earlier reported that several senior executives were unhappy with the previous group-wise restructuring introduced under former CEO & MD Rajesh Gopinathan in April 2022. New CEO and MD K Krithivasan too kept his BFSI vertical out of that structure
BUSINESS
TCS rejigs senior management positions, appoints new CMO
According to sources in the know, Abhinav Kumar, a TCS veteran who has been with the company for over 21 years, will be taking over the role as the new chief marketing and communications officer for its global markets.
BUSINESS
Tech Mahindra delays senior employee wage hikes amid profit decline
The IT services firm, however, completed majority of its wage hike cycle in Q1, which partly reflected on its EBIT margins that plunged 440 basis points QoQ.
BUSINESS
CoinSwitch in talks with RBI, SEBI to launch financial products, exploring NBFC licence: CEO Ashish Singhal
CoinSwitch plans to launch at least seven financial products, including fixed deposits, mutual funds, bonds, stocks and exchange-traded funds, by the end of this year, said Ashish Singhal, co-founder and CEO of the crypto investment platform.
BUSINESS
Crypto regulatory framework in 6 months a challenging task: CoinSwitch CEO Ashish Singhal
The conversation with the government has shifted from implementing a possible ban on crypto to it being at least partially regulated, Singhal said.
BUSINESS
CoinSwitch releases second Proof of Reserves report amid G20 regulatory talks
CoinSwitch's total crypto and fiat holdings stood at Rs 1,944.8 crore, which is 6.7 times more than its user holdings.
BUSINESS
Tech Mahindra CEO designate Mohit Joshi confident of medium, long-term growth despite tough Q1
Tech Mahindra’s net profit in Q1 was down by 38% QoQ, order book declined 39%
BUSINESS
Tech Mahindra Q1 results: One of the toughest quarters I have seen in last five years: CEO CP Gurnani
Tech Mahindra's Q1 order book declined over 39 percent QoQ to $359 million from $592 million in the previous quarter due to weakness of the CME segment.
BUSINESS
Tech Mahindra Q1 Results: Headcount declines by 4,103 in Q1
Tech Mahindra's attrition rate dropped to 13 percent from 15 percent in Q4. The firm has been seeing a drop in attrition rate since the first quarter of fiscal year 2023
BUSINESS
MC Explained| What is Sam Altman’s Worldcoin crypto project? How is it going to work?
The Worldcoin protocol also has its own digital currency, WLD token, which will be initially distributed among users for free as they sign up, defining that they are unique humans, and the currency can be used for transactions and payments through a World-ID compatible app called World App.
BUSINESS
Dismal growth, guidance downgrades, declining headcount: How Indian IT majors fared in Q1
The sector appears to be stuck in a situation where it is seeing strong demand along with uncertain deal closure timelines. Analysts say the sector's growth will fall from double-digits to lower single-digit levels in FY24
BUSINESS
MC Interview | We're seeing demand but deals are taking a long time to close: LTIMindtree's Chatterjee
LTIMindtree had previously aimed for double-digit growth in FY24, but CEO Debashis Chatterjee has now said will be challenging in the present macroeconomic climate.
