WASHINGTON - The International Monetary Fund on Monday cut India's growth estimate for the current fiscal year by one percent to 6.6 percent unseating the nation as the world's fastest growing economy for 2016. A senior IMF official, Maurice Obstfeld, said on Monday that, however, "this is likely to be temporary factor" and that he expected a full bounce back after the 2017 fiscal year. The IMF's World Economic Outlook Update released here...
WASHINGTON - US-based e-commerce and cloud computing company Amazon has plans to create more than 100,000 new jobs in the US over the next 18 months, a media report said. The e-commerce giant, which employs 180,000 full-time US workers, said in a statement on Thursday it would create an additional 100,000 full-time, full-benefit jobs in the country by mid-2018, The Financial Times reported. Amid surging retail sales,
MUMBAI - Natarajan Chandrasekaran, 53, who has spent some 30 years in the Tata group, will be the new Executive Chairman of Tata Sons -- the first non-Parsi to head the $103-billion global empire with a 148-year history, it was announced on Thursday. "Chandrasekaran has demonstrated exemplary leadership as the Chief Executive Officer and Managing Director of Tata Consultancy Services," said a statement from Tata Sons,
GANDHINAGAR - Prime Minister Narendra Modi on Monday said his vision for Gift City is that it should be a price setter for few of the largest traded instruments. Inaugurating the India International Exchange (INX) located at the International Financial Services Centre (IFSC) in GIFT City here, he said that there has long been criticism that a lot of trading, even in Indian financial instruments, is currently taking place abroad and India has...
KHARAGPUR - In a candid chat with students at his alma mater IIT-Kharagpur on Thursday, Google CEO Sundar Pichai recalled his days at the institute, his love life and also his interview with the internet giant even as he urged them to take risks and experiment with different things in life.VPichai doled out unconventional advice to the students on Thursday when he visited the campus after 23 years. In his addressing at the packed...
NEW DELHI - Reflecting some impact of the government's recent demonetisation measure, the output of India's eight infrastructure industries in November 2016 increased by 4.9 per cent, but fell sequentially as compared to the 6.6 per cent growth logged in October, official data showed on Monday. The Eight Core Industries (ECI) grew in November at 4.9 per cent as compared to the same month of 2015 on the back of higher production of coal,
BENGALURU - In a push towards the governments ‘Startup India initiative, Amazon.ins global programme ‘Amazon Launchpad received 400 applications within two weeks of its launch. The programme was announced earlier this month with an aim to make it easier for Indian startups to launch, market and distribute their products to millions of Amazon customers across the country and around the world through a dedicated store.
BENGALURU - After launching its grocery and household products service in Hyderabad and Bengaluru earlier this year, online retail giant Amazon on Thursday announced the expansion of the service to six more cities. "Amazon.in has announced the expansion of its grocery and household service - Amazon Pantry to six more cities across the country, namely Delhi, Faridabad, Gurgaon, Mumbai, Mysuru and Pune,
NEW DELHI - The RBI on Monday announced that deposits of demonetised Rs 500 and Rs 1,000 notes in excess of Rs 5,000 will now be allowed only once till December 30 -- that too after strict scrutiny. The new restrictions are meant to encourage deposits of the demonetised currency under the Taxation and Investment Regime for the Pradhan Mantri Garib Kalyan Yojana, 2016. The Finance Ministry said the decision will help end the...
KOLKATA - A record number of over 1,000 IIT-Kharagpur students have bagged lucrative jobs in just 13 days of the first phase of placement season this year, the institute said in a statement. "A record number of 1,043 IIT Kharagpur students have bagged lucrative jobs in just thirteen days of the first phase of placement season. 175 companies have visited the campus till date," it said. The statement said the record is a testament to the fact that...