Fitch withdraws ratings on Rolta India

Fitch Ratings has withdrawn its ratings on India-based Rolta India Limited, after the Indian IT company said it was no longer interested in continuing with the arrangement. “Fitch is withdrawing the ratings as Rolta has chosen to stop participating in the rating process. Therefore, Fitch will no longer have sufficient information to maintain the rating. Accordingly, Fitch will no longer provide ratings or analytical coverage for Rolta,” the ratings agency said. “The company is currently working with lenders to find a solution to its liquidity issues following default on its…

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Wipro buys InfoSERVER, a Brazilian IT outsourcing company

Weeks after acquiring Appirio, Wipro is at it again. This time, it is buying InfoSERVER, an IT services provider focused on the Brazilian market, for $8.7 Mn (Rs 60 cr). Two-decade old InfoSERVER provides custom application development and software deployment services, the company said. It counts some of the largest Brazilian banks as its clients, will help Wipro in expanding its presence in the country’s highly traditional and competitive Banking, Financial Services & Insurance market besides adding invaluable domain and process knowledge on the sector, it added. “This acquisition closely…

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Wipro reports poor third-quarter, outlook for 1-2% growth

Wipro Ltd has reported poor third quarter results. The highlights are as follows. Gross Revenues were 136.9 billion ($2 billion), an increase of 6.4% YoY. Net Income was 21.1 billion, a decrease of 5.7% year on year. Both numbers are below market expectations. The outlook is for a growth of 1-2% in revenue, which is below what the market was expecting and is considered a disappointment. ““Our bold investments in Digital, BPaaS and cloud applications position Wipro as the partner of choice for the Digital businesses of our clients. Digital…

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Wipro’s TK Kurien steps down earlier than expected

After TCS’ Chandrasekaran, it is the turn of Wipro’s former CEO and current executive vice chairman TK Kurien to retire. He was expected to step down in March. He will step down at the end of this month, a year after he was moved out of the CEO position. “TK and Abid have worked together over the past 12 months to complete a smooth and effective transition. In the past year, TK and Abid have charted out a new technology roadmap and further deepened our client relationships besides scaling our…

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Tech Mahindra opens robotics, AI and digital services center in Dublin

IT services provider Tech Mahindra opened a new facility in Dublin, Ireland to focus on emerging technologies such as Robotics and Automation, Business Analytics, Cloud Infrastructure and Digital Services. The new centre would employ around 150 engineers over the next three years and will help the company deliver technology services to clients in Ireland as well as Europe. The move comes in the wake of Britain’s preparations to exit the European Union. Once Britain exits, Ireland would be the only English-speaking country in the EU. “Ireland’s unique positioning as the…

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TRUMP THREAT: TCS not worried, says we’re not the villains

Tata Consultancy Services, the largest Indian-owned outsourcing company, said it is able to manage with 75% less new visas this year as it has changed its business and recruitment models in recent years. It also said that outsourcing was key to protecting US jobs, and is not the villain as portrayed. The statement from Rajesh Gopinathan, the new chief executive officer of the company, was in response to investor concerns that the pro-local jobs stance of incoming US President Donald Trump would severely disrupt the business models of companies like…

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N Ganapathy Subramaniam appointed new TCS COO

Tata Consultancy Services said it made two appointments in the wake of the departure of Chief Executive officer N Chandrasekaran: N. Ganapathy Subramaniam, elder brother of outgoing CEO Chandrasekaran, has been appointed as the chief operating officer, and former chief financial officer Rajesh Gopinathan has been elevated to the position of CEO. Former CEO Chandrasekaran has been appointed as the Chairman of Tata Sons Ltd, effective February 21, 2017. Chandrasekaran functioned without the support of COO. However, given that Rajesh Gopinathan has a background in finance, the company is likely to…

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Ramco Systems wins first client in US logistics market

US-based G&D Integrated has decided to implement Ramco Systems’ logistics suite, the Chennai-based provider of cloud software said. The Illinois-based logistics provider has 1,000 employees at over 20 facilities across North America and represents the first logistics client for the company in the US. Ramco Systems will implement its comprehensive Logistics ERP Suite covering Finance & Accounting, Customer Management, Supply Chain Management, and Warehouse Management in G&D’s 20+ facilities across North America. “On go-live, the integrated system will help bring complete visibility to G&D’s business allowing G&D to make timely…

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Ramco Systems wins big deal from Panasonic Malaysia

Ramco Systems, the Chennai-based cloud services provider, has inked a “multi-million-dollar deal” with Panasonic Group of companies in Malaysia to digitize HR and Payroll operations for its nearly 20,000 employees. The contract marks a major win for the company. Typically, cloud contracts tend to be small sized affairs, but the Panasonic deal is one of the biggest in this area for Ramco — a pioneer in the space. “Ramco System’s award-winning Human Capital Management (HCM) solution will integrate with multiple Enterprise Applications and Finance systems in individual companies for statutory…

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BSNL offers email IDs in Hindi and other Indian languages

BSNL has introduced a free e-mail service for its broadband users based on its डाटावन.भारत domain name. As a result, it is possible for a customer to now have an complete email address in Hindi. “It’s now possible in every part of India to have an email address in their own language and communicate in preferred language”, said Anupam Shrivastav, Managing Director, BSNL. “The linguistic email service offered by BSNL will have डाटावन.भारत (DataOne.Bharat) domain and email address will be offered in eight regional languages including Hindi, Gujarati, Urdu, Punjabi,…

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Three lakh Amul outlets to start accepting MobiKwik payments

MobiKwik, Indian mobile wallet major, today announced its tie up with Amul, the Indian dairy cooperative. The association will help customers of Amul in making cashless payments with MobiKwik at 7000 Amul outlets and 3 lac Amul Multi brand outlets & retailers across India. “In today’s less cash economy , through this pan India initiative we shall be accepting payments with MobiKwik wallet, from our millions of consumers to our more than 3 lac retailers and 7000 dealers of milk and dairy products,” said R S Sodhi, Managing Director of…

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PayTM hit by Rs 6.15 lakh fraud

PayTM, India’s largest wallet company, has been cheated to the extent over Rs 6.15 lakh by 48 customers claiming illegal refunds for goods they already received. A case has been registered with the Central Bureau of Investigation, which is currently looking into the matter. Besides PayTM, others such as Freecharge and MobiKwik are also present in the fast growing wallet ecosystem in India. The fraud does not involve any leakage of money from the wallet service, but is centered around claiming illegal refunds for goods that were ordered, and received…

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Ramco Systems wins contract from Philippines Logistics co

Chennai-based Ramco Systems has won a new client for its HR & Payroll solution in the shape of LBC Express Inc, a logistics and remittance company in the Philippines. The software will be used to manage 8,000 employees, from hire to retire. LBC is the Philippines’ market leader in retail and corporate courier & cargo, money remittance, and logistics services. It has 6,400 branches, hubs & warehouses, partners, and agents in over 30 countries. The size of the deal was not disclosed. “As a part of the agreement, LBC Express…

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Google regains top slot in November as Facebook sees 6% decline in traffic

Google.com, home to the world’s most popular search engine, beat Facebook.com to become the most visited website in the world in November as people spent more time shopping and comparing deals than networking online. There was also a sharp jump in traffic to online retail sites such as Amazon and to online advertising domains like googleadservices.com. Overall, people spent considerably less time on non-shopping websites in November compared with October, resulting in marked decline in the number of visits to non-shopping websites, according to web analytics firm similarweb.com. So, while…

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Cyberinc to launch malware isolation product in India

Cyberinc, an Aurionpro solutions company, said it will launch a malware isolation product ‘Isla’ in India on December 1st. “Cyberinc’s Isla web malware isolation system protects organizations from the most advanced web borne threats by isolating all web content outside the network perimeter,” said the company. “This approach will help eliminate the risk of drive-by-downloads, malvertizing, advanced phishing attacks and virtually all malware originating from the web while delivering a familiar web browsing experience to the user.” Isla has been successfully deployed to financial institutions in the US government and…

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Infosys invests Rs 14.5 cr in Danish artificial intelligence startup UNSILO

Technology services provider Infosys said it made an investment of 14.92 mln Danish kroners in Danish startup UNSILO from its innovation fund. UNSILO is a Danish artificial intelligence startup founded in 2012 and focus on advanced text analysis. It uses a combination of machine-learning and natural language processing to analyze large quantities of text and improve the speed and effectiveness of knowledge workers across many industries. “We will partner with UNSILO to bring their artificial intelligence and machine learning technology to our global clients. They join a portfolio of innovative…

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Ramco Systems wins Rs 53 cr contract from German logistics company

Ramco Systems Ltd. said it secured a 7.3 million euro order from Schenker AG for implementing its Ramco HCM & Payroll software. Schenker AG is a German logistics company and a subsidiary of Deutsche Bahn, the German railway company. DB Logistics offers land, sea, and air transport and contract logistics. Rail transport within DB Logistics is done under the DB Schenker Rail brand. Ramco HCM on Cloud is a global HR & talent management solution that covers your organization’s human capital management needs from hire to retire. Ramco HCM software…

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CASH CRUNCH: Freecharge signs up new merchant every 30 seconds

Snapdeal-owned Freecharge said it is now signing up a new merchant every 30 seconds, possibly a result of the cash-related problems faced by consumers and businesses alike. The company had recently removed sign up charges for merchants and waived fund transfer charges as well. It also offered quick sign-ups as well. “This unbeatable offer led to a sharp increase in the number of merchants signing up to start receiving payments through FreeCharge,” said Govind Rajan, CEO FreeCharge. ““After rolling out the Zero Cost offer, we have received thousands of queries…

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Infosys invests TidalScale, provider of simple supercomputing software

Technology provider Infosys said it made investment in TidalScale, a provider of software-defined server. No details about the financial aspects of the investment were made public. TidalScale’s offering, in many ways, is the opposite of virtualization. While virtualization allows you to split a single hardware-based server into several virtual servers, the software-defined server helps combined several powerful servers into a single virtual machine. Such machines are used in big data and similar applications. In other words, TidalScale’s platform aggregates commodity server hardware into a single coherent supercomputer. Unlike many competing…

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Mobikwik, Freecharge start wallet on delivery services

As the e-commercial sector is facing issues with the money demonetization, the E- payment platform MobiKwik and Freecharge have forward with methods that can be helpful for the e- tailers. Mobikwik said it will offer ‘MobiKwik on delivery’ option for e-tailers to replace ‘Cash on Delivery’ and overcome the challenges being faced by the phasing out of Rs. 500 and Rs. 1000 notes. “MobiKwik on delivery, will address the challenges being faced by e-tailers in operating the cash on delivery service. Users can pay with MobiKwik, after receiving the delivery…

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