company | Pixr8 News

17Nov By Press Trust of IndiaNo Comments

CHINA

China FDI – $98 Billion in Ten Months, 600 Companies Invested Over $100 Million

FDI in China rose 4.2 percent year on year to reach around USD 98 billion in the first ten months of the year with service sector attracting massive investments, unlike manufacturing which suffered over capacity, official data said today. The growth rate is unchanged from the January-September period, according to the Ministry of Commerce. The service industry continued to attract massive foreign investment from January to October, said Tang Wenhong, head of the ministry's foreign investment division. The FDI rose 4.2 percent to reach 666.3 billion yuan during initial ten months. In the service sector, which accounted for 70.7 percent of all investment, FDI increased 9.1 percent year on year during the period. In particular, FDI in high-tech services skyrocketed 90.2 percent from a y...

Accion Venture Lab Completes First Successful Exit in India

15Nov By PriyankaNo Comments

News

Accion Venture Lab Completes First Successful Exit in India

Accion Venture Lab, the seed-stage investment vehicle of financial inclusion leader Accion, announced today that it has successfully exited an investment for the first time. Venture Lab has sold its stake in Varthana, a company providing specialized loans and support to affordable private schools in India, promoting access to and the quality of education for India's poor and emerging middle class. Venture Lab led the first institutional investment round in Varthana in May 2013. As of August 2016, with Venture Lab's active support, Varthana has supported more than 2,000 schools, 38,000 teachers, and one million students, and has disbursed more than $35 million to schools that serve lower and middle income Indians. "Varthana has reached great heights as an innovative financial services...

Indian Companies Foreign Investment Fell 84% in Aug at $399 Million

17Sep By Press Trust of IndiaNo Comments

News

Indian Companies Foreign Investment Fell 84% in Aug at $399 Million

India Companies overseas direct investment fell 84 per cent to USD 399.06 million in August, data from RBI showed. Indian companies had made an investment of USD 2.47 billion in the markets abroad during the same period last year. Compare to July this year, direct investments in August were down by 82.6 per cent. The investments were in the form of issuance of guarantees (USD 97.14 million), loans (146.36 million) and equity (USD 155.56 million). Palava Dwellers Pvt Ltd was among the biggest investors, which invested 21.75 million in its wholly owned subsidiaries in Jersey, Mauritius and The Netherlands. WNS Global Services invested USD 15.35 million in a joint venture in the UK, General Insurance Corporation infused USD 11.9 million in a wholly owned business in South Afric...

TCS is Leader in Software Testing Services: Report

9Sep By AnkitaNo Comments

ANALYSIS

TCS is Leader in Software Testing Services: Report

Indias IT major Tata Consultancy Services (TCS) has been recognised as a leader among 24 companies in all categories of software testing services, according to a research-based report. The NelsonHall Vendor Evaluation and Assessment (NEAT) report 2016, analysed and indicated the overall performance of leading global vendors offering software testing services. NelsonHall evaluated 24 companies for NEAT based on various parameters. TCS was recognised as a leader in all the categories, namely Overall, Efficiency, Consulting, Transformation and Digital Focus. In the NEAT profile, TCS was acknowledged for its strong progress in go-to-market strategy, comprehensive testing service portfolio and a solid positioning in digital and mobile testing. TCS leadership in platform-based ser...

SMEs Raise 185 Crore Through IPOs in FY17

7Sep By AnkitaNo Comments

BUSINESS

SMEs Raise 185 Crore Through IPOs in FY17

Riding on upbeat market sentiment, as many as 23 small and medium enterprises (SMEs) got listed on capital markets with initial public offerings worth Rs 185 crore in the current fiscal. In comparison, 44 SMEs raised a total of Rs 290 crore in the entire last financial year (2015-16). "Indian primary market has witnessed spectacular revival in last few months, which is not limited to large IPOs like Mahanagar Gas or Quess Corp. Public share sales of smaller companies on the dedicated SME boards of stock exchanges, too, have been on a hot streak," Pantomath Group Managing Director Mahavir Lunawat said. A total of 23 firms made debut on the SME platform in 2016-17 so far, while a total of 28 companies filed their draft prospectus in the past fiscal to raise funds through an initial publ...

Simplilearn Appoints Ashish Virmani as VP – Marketing and Categories

7Sep By PriyankaNo Comments

News

Simplilearn Appoints Ashish Virmani as VP – Marketing and Categories

Global ed-tech company Simplilearn has further strengthened its leadership team by the appointment of Ashish Virmani as Vice President – Marketing and Categories. Ashish will focus on driving growth for the business through integrated plans across marketing and category functions. Ashish comes with over 11 years of diversified experience across India’s fastest growing start-ups and established FMCG brands as well. He joins Simplilearn from FreeCharge where he was the Associate Vice President – Marketing. Prior to that, he used to head Offline Marketing initiatives at Flipkart. The appointment is the latest in a series of strategic hires by Simplilearn, as a part of building a strong leadership team for its rapidly growing presence in India, U.S and other markets. In March this year, t...

Facility Management Major SBricks Acquires HomeCues.com

31Aug By PriyankaNo Comments

ACQUISITION

Facility Management Major SBricks Acquires HomeCues.com

SBricks (www.sbricks.com) is a facility management & home services start-up HomeCues (www.homecues.com) is into aggregation and providing professional household services The merger is an all-stock deal Entire business of HomeCues merges with SBricks The combined entity will be known as SBricks Castle Care Pvt Ltd acquired Hyderabad-based household services aggregation and facilitation company HomeCues (www.homecues.com). Homecues is a leading provider of facility management, home clean, laundry, repairs, and maintenance services. Announcing the merger, D Nithin Reddy, CEO of SBricks Castle Care Pvt Ltd, has said that the similarity in businesses of the two companies has provided an opportunity for the merger. The combined entity, foresees a growing b...

28Aug By Press Trust of IndiaNo Comments

CHINA

Top 500 Firms of China Report First Revenue Decline in 15 Yrs

Chinas top 500 enterprises reported their first annual decline in combined revenues in 15 years, with a 0.07 per cent drop last year, as the economy continued to slow down amid falling oil prices and overcapacity issues. Among the top 500 firms, 155 reported declines in revenues in 2015, 61 more than a year ago, with many of them representing the overcapacity-plagued coal, steel, oil and chemicals industries. Meanwhile, 72 firms reported losses, 15 more than a year ago. The data was contained in 2016 edition of the top 500 Chinese Enterprises released China Enterprise Confederation and China Enterprise Directors Association. The list is based on revenues from 2015, state-run Xinhua news agency reported. The State Grid grabbed the top spot with 2.07 trillion yuan (USD 310 bil...

27Jul By reutersNo Comments

News

Twitter Revenue & Users Growth Slows

Twitter Inc reported its slowest revenue growth since going public in 2013 and set a disappointing forecast, fanning concerns that faster growing social media services will make it a niche product. The microblogging service operator's shares fell 11 percent in extended trading to $16.40. While Twitter struggles to find a way to boost user growth and win over advertisers, social media services such as Instagram and Snapchat are expanding their footprints. Co-founder Jack Dorsey returned to the company as chief executive a year ago, but his plan for reviving Twitter is at best seen as unfinished. The company's second quarter revenue missed Wall Street estimates and the revenue forecast for the current quarter of $590 million to $610 million was well below the average analyst estimat...

22Jul By Press Trust of IndiaNo Comments

INDIA

Indian Companies Can Now Obtain PAN or TAN Registration Within a Day

Companies can now obtain PAN or TAN registration within a day if they submit digital signature certificate-based application, thereby ensuring ease of doing business, Income Tax department said today. Besides, individuals can now get a new Permanent Account Number (PAN) through Aadhaar-based e-signature facility which will reduce the effective time in allotment. For fast-tracking the allotment of PAN and Tax Deduction and Collection Account Number (TAN) to company applicants, digital signature certificate-based application procedure has been introduced on the portals of PAN service providers -- NSDL eGov and UTIITSL. "Under the new process PAN and TAN will be allotted within one day after completion of valid on-line application," a tax department statement said. Similarly, a ne...

1Jul By NitishNo Comments

INDIA

HCL Infosystems Delivered First Made in India Communication Network For Indian Armed Force

HCL Infosystems, one of India's premier IT services, distribution and digital solutions company, has enabled the design, development and deployment of Defence Communication Network (DCN) - the first tri-service communication and IT network of the Armed Forces. The network has been fully designed and developed in India. The DCN was today dedicated to the nation by Shri Manohar Parrikar, the Hon'ble Raksha Mantri, Government of India. Speaking on the occasion, Mr. Premkumar Seshadri, Executive Vice-chairman and Managing Director, HCL Infosystems Ltd. said, "This is a moment of great honour for us. HCL Infosystems is proud to design, develop and deploy the first ever converged tri-service communication and IT network for the Indian Defence Forces. The network has been entirely designed and d...

Players in Financial Services May Relocate From London: T V Mohandas Pai

24Jun By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Players in Financial Services May Relocate From London: T V Mohandas Pai

Indian IT players catering to clients in the financial services space in London may shift their operations to other parts of Europe in the wake of Britain's exit from the European Union, says tech investor T V Mohandas Pai. For the Indian IT industry, the biggest immediate impact would be the shift in the movement of Pound Sterling, which has now become cheaper, Pai said. "That's already impacting them, marginally, depending upon who is exposed to business in the UK," he told news agency noting that over a period of time, lot of work is being done by Indian IT companies in UK financial services space in London. "Now, many of them may migrate to (other parts of) Europe. In case they migrate to Europe, they have to shift to Europe. What happens there is something that needs to be seen. So...