Page 34 - It Sector News Today

RBI: The net profit margin of the manufacturing sector declined to 8.7 percent in 2022-23, against 10.6 percent in 2021-22

The deal is for a period of five years, which could be ramped up to $900 million and also be renewed for up to another three years, the company has said. Infosys will also acquire Danske Banks IT centre in India, which employs 1,400 people

​​This comes after the countrys largest IT services firm Tata Consultancy Services found senior executives breaching corporate code of conduct to give preferential treatment to some recruiters.

The deal, which can be extended for three more additional years, is to accelerate the Nordic-based banks digital transformation initiatives with scale.

Employers now have the advantage of attracting high-quality candidates at a reduced cost due to a larger pool of applicants and increased options

The Infosys co­founders statement come as big tech companies such as Meta, Google, Amazon and Google had laid off techies in the west in a move to cut down costs.

Now referred to as global capability centres or GCCs, these arms of foreign companies employ close to 1.7 million in India and had a combined revenue of USD43 billion in FY23. While this is good for Indias tech talent, it makes life harder for Indian IT services companies as they compete with GCCs for business.

Among the commodities, the veteran equity manager expects steel sector to do well while being bullish on real estate

A lingering worry is that the lack of clarity on global macro-economic conditions could keep global IT giants in wait-and-watch mode, leading to slower hiring and lower outsourcing of work to India.

KARACHI: The federal government has proposed concessionary tax rate for banks income from additional advances to...