Coronavirus impact on economy to be like 2008 financial crisis: Former Infosys CFO Balakrishnan
"It's (now) exactly like 2008 when everything got shut down over a period of time but again recovery then was in a V-shape because central banks and all got in and stabilised," Balakrishnan said. "Now, central banks are helpless; interest rates are almost zero in most parts of the world...I think the pain is going to be similar to what we saw in 2008 and we don't know how long this is going to last."
L&T Technology Services appoints Amit Chadha as Deputy CEO
L&T Technology Services Limited announced that it has appointed Amit Chadha as Dep...
Coronavirus attack to slow down IT growth
TCS, Infosys and HCL will be hit by the reduced technology spending by clients in the US and Europe...
Hexaware to see business impact in Q1-Q2 on account of Covid-19
The company had transitioned to a work from home model almost a week before the 21-day national lockdown was announced. 99% of its IT services and 75% (by revenue) of the BPO operations were currently being run from home, with no impact on client delivery.
HCL says Covid impact not 'significant'; bookings on track
From a vertical perspective, HCL's exposure to verticals which have seen a major disruption due to the CorovaVirus like Oil & Gas, Travel & Hospitality, High-End Retail is in single digits. HCL said that its business model is a healthy mix of recurring product revenues, managed services and discretionary spend led professional services.
C Vijayakumar, CEO, HCL Technologies named chairman of World Economic Forum's IT Governors Community
The Forum's IT Governors community convenes CEOs of the world's top information technology companies in order to help them responsibly shape the future of their industry. It acts as a platform for setting industry priorities, building shared understanding, and coordinating actions that lead to results.
Nihilent acquires cross-disciplinary innovations agency Hypercollective
Global consulting and services firm Nihilent acquired the cross-disciplinary innovations agency, Hypercollective. Nihilent’s technology stacks, used for a deeper understanding of customers, aims to get amplified with Hypercollective’s creative capabilities to bridge the gap between technology, digital, spatial, and creative.
Mphasis appoints Manish Dugar as new CFO
Duggar is a chartered accountant and has served as Managing Partner at Agnus Capital LLP. He was earlier the CFO of Wipro’s IT, BPO and data centre business. He has held leadership positions at Practo Technologies, inMobi and RPG Enterprises.
IT-BPO employees of STPI units can work from home
This has been one of the key demands of the IT-BPO industry given the Coronavirus pandemic, and industry association Nasscom has been in talks with the government for over a week to allow employees of units which are operating from the Special Economic Zones (SEZs) to work from home..
Covid-19 impact: Karnataka may curb IT staff's foreign travel
K'taka health minister says he will ask companies not to send staff overseas unless it’s an emergency.
ICT spending in India will reach $144 billion in 2023: GlobalData
The services segment is estimated to account for nearly 52% of the overall ICT spending in India by 2023. The Indian IT industry continues to be one of the fastest growing markets globally, according to GlobalData, as it transitions from enterprise servicing to becoming an enterprise solutions provider.
Cognizant and Wipro restrict travel due to Coronavirus spread
Technology companies have been restricting travel for employees outside India and encouraging them to work from home while taking measures to prevent spread of the virus from employees who have recently travelled to at-risk geographies. Clients of technology companies have also cancelled travel plans to India, according to some companies.
Mindtree appoints Dayapatra Nevatia as its COO
He joins Mindtree from Accenture where he was the MD and Director of Delivery for Advanced Technology Centers in India.
Chunk of revenues still comes from IT's legacy products: Experts
Cyient chairman Reddy said clients of the engineering and technology solutions company were continuing to improve upon their legacy software and hardware infrastructures rather than replacing those entirely with new, digital products.
Sterlite Technologies to continue to look for buyout targets
Anupam Jindal, chief financial officer at Sterlite Technologies, said the company would continue to look at inorganic growth opportunities that allow it to expand its customer offerings or give it access to new customers.
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