Search Result for : It Services

The Dollar Business Bureau  India’s IT software exports are expected to grow at 7-8% during the current financial year 2017-18, which is less than 8-10% in the previous fiscal of 2016-17, the apex trade body NASSCOM said on Thursday. “The outlook for the IT industry in fiscal 2017-18 is 7-8% growth in exports and 10-11% in the domestic market as against 10-12% in 2016-17,” NASSCOM said in a statement. The Indian IT services sector has been coping with a slowdown in the business of banking and financial services, which contributes a major part to the revenues. It has also been impacted by its retail customers facing a sluggish growth from the upsurge of online retail channels. India’s $150-billion IT industry revenues mainly come from Business Process Management (BPM), software ...

The Dollar Business Bureau  Software major Cognizant Technology Solutions said it would boost hiring in the US, a step that comes amidst President Donald Trump’s hard stance on curbing H1-B visa rules. The company registered a higher-than-expected profit in the last quarter. The New Jersey-based company gets over 75% of its revenues from North America and depends majorly on workers on H1-B visa for providing IT services to its clients. H1-B visa is a non-immigrant visa which allows US firms to temporarily hire foreign workers. Cognizant has around 260,000 employees, a majority of which are based in India. President Trump has ordered the review of the visa programme that brings highly-skilled international workers into the US, potentially impacting the hiring plans of tech companies and ...

The Dollar Business Bureau  Concerned over the Indian firms impacted by tightening visa norms by the US, Commerce and Industry Minister Nirmala Sitharaman said on Friday that the entire debate also has to be extended to include several American companies that are reaping profits on the Indian soil. “Let us also understand that not just Indian companies in the US, several big US companies are in India too. They are also here, they are earning their margins, they are earning their profits which go to the US economy,” she said. The comments from the Minister assume significance when Indian firms, specifically IT services providers, are getting worried over the protectionist measures undertaken by US, Australia and recently Singapore. “So, it is a situation where ...

The Dollar Business Bureau Corporate executives and industry captains deliberating at CII’s live budget viewing session at Mumbai had a mixed-feel while watching the budget unfold. When Jaitley came on the giant screen at 11:00, everybody thought he would bring AccheDin, but very few felt it were Achhe Din. Most CEOs chose modesty in acknowledging the budget as one in the “right-earnest” and some even commented that it was “business-as-usual”. CORPORATE TAXATION The industry was primarily gung-ho on amends in corporate taxation, improvement in the education sector, affordable housing, exports, tariffs and GST related discussions. But many of these keywords went unaddressed as the FM chose MSME, Agriculture and common man to focus on. Corporate taxation was anticipated to drop to an 18% figure, a proposal ...

The Dollar Business Bureau China is looking to achieve a 13% annual growth in its software and IT service industries between 2016 and 2020. On Tuesday, the government released a five-year plan for the industry, underlining that it will support the development of software and IT service companies and will encourage them to become influential and competitive industry leaders. The Ministry of Industry and Information Technology (MIIT) established a goal for 2020, that industry business revenue should exceed 8 trillion yuan (about $1.2 trillion) with average annual growth of more than 13% from 2016 to 2020. MIIT said Chinese companies should acquire leading innovative abilities and significant advantages in key technological sectors including artificial intelligence, cloud computing and big data and virtual reality, state-run Xinhua news ...

The Dollar Business Bureau  The merger between Hewlett Packard’s enterprise services segment and Computer Sciences Corporation (CSC) has been met with approval by the Competition Commission of India. The merger would create one of world’s leading pure play IT services companies. The deal which was announced in May specified that Everett-Spinco a wholly-owned subsidiary of HPE that holds the conglomerate’s enterprise service business would merge with CSC. Confirming the news, CSC tweeted that it has approved the, “demerger of  Enterprise Service Business of HPE into Everett Spinco; the latter to become subsidiary of CSC.”  Post the merger, CSC and HPE shareholders would have around 50% stake each in the new entity.  Announcing the deal, CSC said, "strategic combination of the two complementary businesses will ...

FinnOne is considered as a revolutionising multi-channel retail loan processing operation The Dollar Business Bureau President Barack Obama announced his Computer Sciences for All plan on Sunday.   In a move to expand its global presence as an IT service provider, India-based Nucleus Software rolled out its lending software at Bank of Queensland(BOQ), Australia. The companys flagship lending product FinnOne is implemented by BOQ for its retail loan origination operations. FinnOne is considered as a revolutionising multi-channel retail loan processing operation. FinnOne will streamline the Banks retail loan operations as well as make us more nimble, providing us with the ability to introduce innovative tailor-made products and customer-oriented services to meet the growing demands of our customers. Nucleus Software is at the centre of our ...

Source: PTI The US wants Punjab and Haryana-based firms especially in life science, textile and auto parts sectors to invest there to further strengthen trade and economic ties between the two nations. “There is a strong life science component in Punjab area here. So this is the one sector which we see a lot of growth opportunities and another is auto parts,” Embassy of USA, Commercial Officer, Paul Frost said while addressing media in Chandigarh on Tuesday. However, he said the US was also looking at other sectors including textile, IT services, pharmaceuticals from India to make investments in America. The US Department of Commerce's Select USA Programme is going to hold its first ever India road show starting October 13 ...