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BusinessToday.In
New Delhi, July 17, 2018
Changes in visa rules to have serious adverse consequences on US economy: Nasscom  Indian IT body Nasscom has said the recent work visa-related changes announced by the US will have \"potentially serious adverse consequences\" on the American economy as it will make it more difficult for companies to employ skilled foreign nationals to fill critical skills gaps in the US. One of the changes, which come into effect on September 11, allows US Citizenship and Immigration Services (USCIS) adjudicators full discretion to deny applications, petitions, and requests without first issuing a Request for Evidence (RFE) or Notice of Intent to Deny (NOID).  People should have rights over their data; firms mere custodians: Trai  Trai has said firms collecting user data don't have a right over it and emphasised that consumers' consent should be mandatory and they should also be given the 'Right to be Forgotten'. Terming the existing data protection framework as inadequate, the Telecom Regulatory Authority of India (Trai) recommended to DoT that companies should not use meta-data to identify users and should disclose any data breaches. It said entities controlling and processing user data are \"mere custodians\" and all of them should be brought under a data protection framework.  Jaypee ready to sell cement business to refund homebuyersJaiprakash Associates Limited (JAL) pleaded before the Supreme Court on Monday that the company would deposit another Rs 600 crore to refund homebuyers if it was allowed to dispose of its identified assets, which included a cement plant at Rewa in Madhya Pradesh. Senior advocate Fali S Nariman, counsel for JAL, informed a bench headed by Chief Justice Dipak Misra that the Noida-based real estate company has already deposited Rs 750 crore with the Supreme Court's registry and it would pay another Rs 600 crore in seven instalments for paying the principal amount to the homebuyers.ICICI Bank decides to postpone AGM by a month  ICICI Bank has decided to postpone its annual general meeting (AGM) by a month amidst independent enquiry on alleged cases of impropriety against the bank's CEO Chanda Kochhar. The meeting has been rescheduled to September 12. Meanwhile, Kochhar has gone on leave till the completion of an external enquiry into alleged conflict of interest in extending loans to some corporates like Videocon. Kochhar and her family members are facing allegations of quid pro quo and conflict of interest with respect to a loan extended to certain entities, including the Videocon group. Multiple agencies, including the CBI and regulator Sebi, are already probing the alleged lapses involving Kochhar and her family members. SBI tells its 70,000 employees to return 'compensation' paid for working overtime during note banMore than 70,000 employees of associate banks of the State Bank of India are angry. Banking staff worked overtime post-demonetisation to meet the demands of long queues of people waiting to exchange old notes with the new ones. The bank staff had been promised \"overtime compensation\" by the employer banks for the \"extra hours\" they worked post-demonetisation. The 70,000 officers and employees of banks like State Bank of Patiala, State Bank of Hyderabad, State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner & Jaipur - these all merged with the SBI on April 1, 2017 - got the compensation but now they are being asked to \"return the compensation for extra work\". IMF warns of rising risks to global growth amid trade tensions  The global economy is still expected to grow at a solid pace this year, but worsening trade confrontations pose serious risks to the outlook, the International Monetary Fund has said. The IMF's updated World Economic Outlook (WEO) forecast global growth of 3.9 per cent this year and next, despite sharp downgrades to estimates for Germany, France and Japan. The US economy is still seen growing by 2.9 per cent this year, and the estimate for China remains 6.6 per cent, with little impact expected near term from the tariffs on tens of billions of dollars in exports the countries have imposed on each other so far.


Sonal Khetarpal
New Delhi, June 25, 2018
The clear and present danger of personal data being leaked or stolen has been recognised. But India's proposed law to prevent it needs to work out several issues before it can be finalised.


E Kumar Sharma
New Delhi, June 6, 2018
It is called \"India Trends 2018\" and lists out the top ten trends that will have a bearing on the internet industry in India - not only e-commerce but any business that has some internet angle to it activity.


PTI
June 3, 2018



PTI
May 30, 2018



BusinessToday.in
May 28, 2018
US President Donald Trump has tightened the process of issuing H1-B visas to cut down the numbers of foreign IT professionals in America. Trump wants the IT companies to hire more local citizens instead of placing Indians in US on H1-B visa.


Anilesh S. Mahajan
New Delhi, May 28, 2018
As the NDA government enters its final year, there is a long unfinished agenda that it may not be able to implement by 2019.


PTI
May 28, 2018



BusinessToday.In
May 28, 2018
In 2013, the Ministry of Industry and Information Technology of China had valued country's IT market valued at over USD 493 billion. For India, getting access to China's IT market is important to address the massive trade deficit which has now crossed over USD 51 billion.


PTI
May 27, 2018



E Kumar Sharma
New Delhi, May 14, 2018
Business in Bengaluru has much at stake in the state elections for despite its revenues and branding, India's Silicon Valley is far from a happy land.


PTI
April 25, 2018



Rajeev Dubey
April 26, 2018
Fresh India links have emerged with Firstland Holdings Limited, the mysterious privately held Mauritius-based investment vehicle that injected the first lot of Rs 325 crore into Deepak Kochhar's NuPower Renewables.


PTI
April 19, 2018



E Kumar Sharma
April 13, 2018
The much awaited financial results of Infosys for the fourth quarter, and the first full quarter for Salil Parekh as its new CEO and managing director, did not have major surprises. Analysts, however, found the guidance to be little lower than expected.


PTI
April 11, 2018



PTI
April 6, 2018



BusinessToday.In
New Delhi, April 3, 2018
Govt blames global prices for high fuel costs, wants to bring oil under GSTUnder fire for rising cost of oil in the domestic market, which remained at a four-year high for petrol and an all time high for diesel in the national capital on Monday, the government blamed high international prices for the spike. The minister for petroleum and natural gas Dharmendra Pradhan made a case for oil to be included under the Goods and Services Tax (GST).  \"We have advocated for bringing petroleum products under GST. We want GST Council to soon take a decision regarding this. I am hopeful that petroleum products will also come under GST soon,\" he said.India imposes 10 percent tax on import of key smartphone componentsIn a move to step up local assembly of mobile devices in the world's second-biggest smartphone market, India has  imposed a 10 percent tax on imports of key smartphone components, including populated printed circuit boards (PCBs). Populated PCBs account for roughly half of a typical smartphone's cost. A 10 percent customs tax was also imposed on the imports of camera modules for phones and connectors. The taxes are part of Prime Minister Narendra Modi's phased manufacturing programme (PMP), a plan unveiled in 2016 to step up local value addition every year in smartphone manufacturing.Amazon India loses 60 employees, more to followAs part of its global reorganisation process, Amazon has begun laying off employees in India. It let go of nearly 60 employees from its recruitment team last week, one of them said as reported by Economic Times. There may be more layoffs across teams as the company put 25% more employees on so-called performance improvement plans (PIPs) in the December quarter. Amazon has confirmed the layoffs in India.ICICI Bank-Videocon loan whistleblower claims govt silent on 12 cases raised in the pastThe whistleblower who first red-flagged \"the illicit banking and commercial relationship between Videocon Group of Venugopal Dhoot and ICICI Bank's MD & CEO Chanda Kochhar's family\" as he put it in his blog post - incidentally two years before the ongoing brouhaha broke out - has reportedly claimed that he'd raised several such cases in the past, too. Arvind Gupta, the founder and trustee of Indian Investors Protection Council, and a Ph.D in Public Sector Economics, as his blog profile claims, told MoneyControl that he has raised more than 12 cases in the past \"which have gone unnoticed by the government\".Automobile sales witness a healthy rise in March 2018Major automobile manufacturers have posted healthy sales figures for March 2018 as reported by Business Standard. Hyundai Motor India (HMIL) reported a rise of 8.8 per cent in its overall sales including exports for March 2018 to 60,507 units from 55,614 in the corresponding period last year. Mahindra and Mahindra (M&M) reported healthy take-off for March 2018. Its overall monthly sales grew by 10 per cent. Maruti Suzuki India has reported a 14.9 per cent rise in its March sales.  Tata Motors, on April 1 had posted a 35 per cent increase in its March sales to 69,440 units. According to experts sales have picked up due to positive economic indicators.Debjani Ghosh becomes Nasscom PresidentNasscom has said former Intel executive Debjani Ghosh has taken over as the President of the IT industry association, as reported by PTI. She succeeds R Chandrashekhar, who is leaving office upon the completion of his term. Ghosh takes office at a time when the Indian IT-BPM industry, currently a USD 167 billion sector, is playing a leading role in digital transformation of various industries across countries.


PTI
April 2, 2018



Joe C. Mathew
New Delhi, April 2, 2018
As US and China get ready for a trade war, India needs clever policies and deft political manoeuvring to avoid collateral damage.


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