Outsourcing company iGate Corp said it had sacked its chief executive Phaneesh Murthy for not disclosing a relationship with a subordinate after investigating one of India's best-known IT executives for sexual harassment.
China is India's largest trading partner, with two-way commerce totalling $66.5 billion last year. But trade is skewed significantly in China's favour with the deficit totalling $29 billion in 2012, according to Chinese figures.
The rupee on Tuesday strengthened by 16 paise to trade at 54.95 against the dollar at the Interbank Foreign Exchange on selling of the US currency by exporters.
Goldman Sachs Group Inc launched the sale of about $1.1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China on Monday, offering its entire remaining stake in the world's biggest bank by market value.
Falling for the second day, the Sensex today slid by over 112 points to close at one-week low of 20,111.61, mainly due to profit booking in interest rate sensitive sectors including realty, auto and banking.
Phaneesh Murthy, who became one of the youngest Infosys officials to head the company's key operations in north America, fell from grace after being sacked as the CEO of Nasdaq-listed iGate Corporation following an inquiry into a controversy surrounding his relationship with a subordinate employee.
Outsourcing company iGate Corporation on Tuesday sacked its chief executive officer and one of India's best-known IT executives Phaneesh Murthy for not disclosing to the company his relationship with a subordinate employee, after probing a sexual harassment complaint against him.
Manoj Gairola reports.
India will take more steps if necessary to curb gold imports, finance minister P Chidambaram said on Monday. The country’s overseas purchases of gold and silver shot up 138% in April.
In the first-of-its-kind arrangement, Essar Energy Plc, controlled by billionaire brothers Shashi and Ravi Ruia, and its refining subsidiary — Essar Oil — will on Tuesday enter into a memorandum of understanding (MoU) with China Development Bank (CDB) and PetroChina.
In an underground mall just a stone’s throw from China’s teeming border with Macau, a row of 30 small shops with identical golden plaques does a brisk, though shadowy trade with mainland Chinese visitors, many of them bound for the gambling hub.
Despite concerns over the payment dues from power utilities including NTPC and resistance from employees within the company, the department of disinvestment (DoD) may go firm with its plans to disinvest another 10% in state-owned Coal India Limited (CIL) in the next few months. Anupama Airy reports.
Playing with images: Both Adobe and open-source alternatives now offer free facilities that you can use to create fancy and high-quality images. Gagandeep Singh Sapra reports.
With telephone and Internet-based search company JustDial kicking off its initial public offering (IPO) on Monday, the value of its brand ambassador Amitabh Bachchan’s shares, has swelled to between
Rs. 3 crore and
Rs. 3.4 crore from
Rs. 6.27 lakh.
HT reports.
In a change of stance, the government is considering a proposal to allow companies applying for foreign direct investment (FDI) in multi-brand retail to enter the e-retailing segment as well. Mahua Venkatesh reports.
The aviation ministry may impose a new cess on flyers to help increase connectivity to smaller towns.