Category: BUSINESS

IT services major Infosys has said it will create 500 jobs in Calgary over the next three years, doubling its Canadian workforce to 4,000 employees by 2023. This expansion was announced by Alberta Premier Jason Kenney, Calgary Mayor Naheed Nenshi, along with Infosys President Ravi Kumar, Calgary Economic Development President and CEO Mary Moran, and David Knight Legg, CEO of Invest Alberta Corporation. “We are thrilled to expand our presence in Canada and advance our commitment to hiring top tech talent across major hubs. Calgary is a natural next step…

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Continuing their winning run for the third session in a row, the BSE Sensex surged nearly 1,148 points to breach the 51,000-level and the NSE Nifty recaptured the 15,200-mark on Wednesday, propped up by intense buying in financial and energy stocks. At the closing bell, the 30-share Sensex was up 1,147.76 points or 2.28 per cent at 51,444.65 – the biggest single-day rise since February 2. Intra-day, the index swung 1,243 points. Likewise, the NSE Nifty climbed 326.50 points or 2.19 per cent to end at 15,245.60 with 43 of…

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Capital markets regulator Sebi will auction properties of Arise Bhoomi Developers and its directors on April 1 for a reserve price of Rs 4.8 crore. The move is a part of Sebi’s effort to recover investors’ money. Arise Bhoomi Developers had mobilised over Rs 8 crore during 2013-14 from the public in the name of ‘purchase of agricultural land’ through its various investment schemes, promising them an expected sum at the end of the contract. The schemes, as per Sebi, qualified to be a CIS which requires compulsory registration from…

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Digital payments in India could rise to $135.2 billion in 2023, according to an Assocham-PWC India study in 2019. Conglomerate Reliance Industries has partnered with Facebook Inc, Google and fintech player Infibeam to set up a national digital payment network, Economic Times newspaper reported on Saturday, citing unnamed sources. Last year, central bank invited companies to forge new umbrella entities (NUEs) to create a payments network that would rival the system operated by the National Payments Council of India (NPCI), as it seeks to reduce concentration risks in the space. …

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The Finance Minister lauded the reform of faceless assessment for direct and indirect taxes, saying that tax terrorism will be a thing of the past, but warned that technology terrorism will gain ground. Union Finance Minister Nirmala Sitharaman on Thursday said this year’s budget has negated the notion that welfare state is a socialist prerogative, and added that it has given a directional change to the economy, wherein the government trusts wealth creators and citizens. She lauded the reform of faceless assessment for direct and indirect taxes, saying that tax…

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 Asian shares were mixed on Monday as hopes for a recovery from the coronavirus pandemic with the global rollout of vaccines were countered by worries about inflation and continuing economic damage. Benchmarks rose in Hong Kong and Japan but fell in South Korea and Australia. Investors remain focused on the future of global economies badly hit by COVID-19 and when and whether there will be enough stimulus to fix it. But the US USD 1.9 trillion economic package proposed by President Joe Biden also heralds hope for export-reliant regional economies.…

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Equity benchmark Sensex dropped over 200 points in opening trade on Monday tracking losses in index majors HDFC, ITC and L&T amid tepid cues from global markets. After dropping to 50,685.42, the 30-share BSE index pared most losses to trade 65.13 points or 0.13 per cent lower at 50,824.63. After a similar movement, the broader NSE Nifty was quoting 8.40 points or 0.06 per cent down at 14,973.35. L&T was the top loser in the Sensex pack, shedding around 2 per cent, followed by M&M, Dr Reddy’s, Maruti, HDFC, TCS…

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Online used car retailing platform provider Spinny is eyeing to sell 1,100 vehicles in 2021, the company said here on Thursday. Spinny has set up its first-ever used car hub in the city as part of strengthening its presence in the country. The sales outlet in the city is Spinny’s 14th one. “By deploying an organised approach in the region’s pre-owned car industry, Spinny aims to sell 1,100 cars from its hub in Chennai in 2021,” the company said in a press statement. With a pan-India inventory of over 2,000…

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The rupee pared its initial losses to settle higher by 9 paise at 72.65 against the US dollar on Thursday following consistent forex inflows and losses in the American currency in the global markets. At the interbank foreign exchange market, the domestic unit opened lower at 72.76 tracking selloff in domestic equities. The rupee touched a low of 72.78 and a high of 72.65 during the day. The domestic unit finally ended 9 paise higher at 72.65 against the US dollar. On Wednesday, the rupee had settled at 72.74 against…

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Equity benchmark Sensex rallied over 300 points to scale a new record peak in early trade on Tuesday driven by gains in index majors HDFC twins, Kotak Bank and Reliance Industries amid positive trend in global markets. After touching a lifetime high of 52,516.76 in the opening session, the 30-share BSE index was trading 322.33 points or 0.62 per cent higher at 52,476.46. Similarly, the broader NSE Nifty was quoting 108.40 points or 0.71 per cent up at 15,423.10. It touched a record of 15,431.75 in early trade. ONGC was…

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