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India tops 2016 outsourcing index
India is the world’s biggest outsourcing destination in terms of financial attractiveness and business environment, according to a study published by a London-based global management consulting firm.
A T Kearney’s 2016 Global Services Location Index (GSLI) rated India as number one of the total 55 countries analysed.
China, Malaysia, Brazil, Indonesia, Thailand, The Philippines, Mexico, Chile and Poland respectively made up the top 10 list.
Sushma Swaraj to visit Palestine, Israel
External Affairs Minister Sushma Swaraj will visit Israel and Palestine on January 17-18 to further build on the goodwill generated by the trip of President Pranab Mukherjee to the two West Asian nations three months back.
Palestine will be Ms. Swaraj’s first destination where she will hold talks with leadership of the country with an aim to boost bilateral engagement and deepen mutual understanding at the political level.
PM Modi to lead galaxy of top global, Indian CEOs at ET Global Business Summit 2016
Prime Minister Narendra Modi will be the chief guest, and star attraction, at the Airtel-ET Global Business Summit (GBS) on January 29-30. PM Modi will inaugurate the summit on the evening of January 29.
The first edition of ET GBS, held last January, was defined by the PM asking business leaders to dream of a $20-trillion Indian economy.
AP inks MoUs for Rs.4.78 lakh crore
Chief Minister N. Naidu announced that they would hold Davos-type interface with stakeholders regularly to extend the benefits of development to the common man after signing pacts worth Rs. 4.78 lakh crore with investors from India and the Middle East, the United States, China and other countries.
The pacts were signed during the three-day CII Partnership Summit titled ‘Sunrise Andhra Pradesh Investment Meet’.
As many as 328 MoUs signed has a potential to create employment for nearly ten lakh people, Mr. Naidu said Major investment proposals include Essel and ZEE Goup establishing smart industrial parks, including LNG terminal, involving an investment of about $ nine billion indirectly by encouraging various Chinese and Indian companies to set up base in the park.
CCI approves ATC’s ₹7,635-crore stake purchase in Viom Networks
US-based American Tower Corp has got the approval of the Competition Commission of India to acquire a majority stake in telecom tower firm Viom Networks for ₹7,635 crore in an all-cash deal.
In the largest FDI in the telecom sector this fiscal year, American Tower Corp (ATC) will buy 51 per cent in Viom, which owns and operates about 42,200 towers and has another 1,000 mobile phone masts under construction from Tata Teleservices and SREI Infrastructure Finance.
Tata Teleservices Ltd owns 54 per cent of Viom, with the Kanoria family’s Kolkata-based SREI Group holding about 18 per cent with management control.
SBI chief identifies four change drivers in Indian banking system
State Bank of India Chairperson Arundhati Bhattacharya said four drivers are changing the banking landscape in India. These are regulatory changes, technology, competition and financial inclusion.
She was delivering the Assocham Foundation Day lecture in the capital.
SBI, which has been at forefront of technology adoption, will this year open 100 new digital branches.
SBI will also launch private wealth management business at Bangalore.
Increase in personal income tax exemption limit to Rs.2.5 lakh for savings sought
Increase in exemption limit to Rs.2.5 lakhs for savings under the Income Tax Act, interest rates on small savings schemes to be fixed at five-year Government Security yields and an end to the dividend distribution tax these are among the suggestions the Union Finance Minister Arun Jaitley received at a pre-Budget Consultative Meeting with the representatives of Banks and Financial Institutions (FIs).
The experts have also demanded that Corporate Social Responsibility (CSR) expenses should be treated as business expenditure for taxation purposes.
EPFO bags National Award on e-Governance
The Employees’ Provident Fund Organisation has won the National Award on e-Governance 2015-16 for launching the Universal Account Number (UAN).
The UAN facility enables workers to transfer their provident fund deposits while switching jobs anywhere in India easily.
The EPFO won the gold award in the ‘innovative use of technology in e-governance’ category and the retirement body will get a cash prize of Rs 2 lakh.
The award will be presented by the Ministry of Personnel, Public Grievances and Pensions to the EPFO in the 19th National Conference on e-governance to be held in Nagpur on January 22.
Sree Chithira Tirunal national award presented to T.P. Sreenivasan
Vice president Hamid Ansari conferred the Sree Chithira Tirunal National Award on former Ambassador and vice chairman of the Kerala Higher Education Council T.P. Sreenivasan.
The award instituted by a private trust is annually bestowed on persons reckoned to have an excellent public service record.
Vodafone begins selling 4G-ready SIMs in Kolkata
These 4G-ready SIMs will be made available at multi-brand outlets in a phased manner.
According to the release, the SIMs are being made available in advance of the commercial launch of Vodafone’s 4G services in Kolkata.
Vodafone has already launched its high-speed 4G services in Kerala. The roll-out will continue with major metros such as Mumbai, Kolkata, Bengaluru and Delhi to be launched by March 2016.
Fillip to ‘Make in India’ in defence purchases
New category to promote domestic manufacturing, including funding for R&D.
Attempting to streamline defence acquisitions and give a big impetus to indigenisation through the ‘Make in India’ initiative, the government has approved major changes to the Defence Procurement Procedure (DPP).
The highlights of the new procedure are a new category to promote domestic manufacturing, including government funding for Research & Development (R&D) and recognition of the Micro, Small and Medium Enterprises (MSME) in technology development.
Bentley’s Bentayga SUV is the fastest in the world
The Bentayga is powered by a 6.0 litre, 12-cylinder twin-turbo engine which develops 600hp and will blast you from rest to 100km/h (60mph) in four seconds.
British car maker Bentley has said that its first SUV Bentayga is the fastest and the most luxurious SUV in the world.
Bentley said the diesel engine will be available soon after launch but the plug-in hybrid won’t appear until sometime in 2018.
Australia beat India by 5 wickets in first ODI
Australian captain Steve Smith’s brilliant 149 overshadowed Rohit Sharma’s magnificent 171 as the hosts flayed India’s listless bowling attack en route a comprehensive five-wicket victory in the first ODI of the five-match cricket series.
While it was another heartbreaking end to a Rohit century that ended in a losing cause (his T20 hundred and ODI hundred against SA were scored in defeats)
It also turned out to be the highest successful run-chase at the WACA and the third highest in an ODI in Australia.