The economic slowdown notwithstanding, Indian IT services providers are still hiring. Tata Consultancy Services (TCS) said today it added 11,773 employees (net 8,692 employees) in its fiscal third quarter to take its total employee headcount at the end of 2008 to 130,343. Last week, Infosys said it added 5,997 employees (net 2,772) in the third quarter. […]
Adding to its investments in India, Intel Capital (the VC arm of the chip giant) is putting $23 million in three startups in the country. The startups are One97 Communications, a provider of value-added services like ring tones and games for mobile phones, online B2B marketplace IndiaMart and vocational educational institute Global Talent Track, according to […]
Silicon Valley startup ViVu Inc. (with a development center in Bangalore) has raised around $1 million in its first round of funding. The round was led by Draper Fisher Jurvetson and Amidzad Partners, with participation from Quest Ventures and other angel investors, including serial entrepreneurs Bill Carrico and Amarjit Gil. Founded by startup veterans from […]
Trading in Indian IT services provider Satyam shares resumed today on the New York Stock Exchange after they were halted following disclosures of massive accounting fraud by the top management of the company. Satyam’s shares were down about 82% to $1.64 on the NYSE at 1:52PM EST. Earlier today, Satyam’s shares fell as low as […]
Wipro took over 18 months to disclose its troubles with the World Bank that led ultimately to the bank banning it for providing improper benefits to its staff. Se we asked Wipro a few basic questions like why the company had not disclosed the serious problems with the World Bank earlier, the names of the […]
The Government of India has named three directors to the board of disgraced IT services provider Satyam Computer. The new members are HDFC Chairman Deepak Parekh, former NASSCOM president Kiran Karnik and former SEBI member C Achuthan. Following the recent disclosures of accounting irregularities, the government had disbanded the earlier Satyam board. The new members […]