Tata Consultancy Services aims to hire 25000 people this year
Tata Consultancy Services is the largest IT Company in India.
The company has revealed that they are aiming to hire around 25000 workers this year in their offices around the world.
Bulk of these hiring would be made in India.
This number might look pretty high but it is still less than the number of hiring done by TCS last year.
The company said in a statement: “We will be hiring 25,000 people this year, which means roughly 25 lakh sq ft of work space required and, therefore, we need to grow outside the metros. Tier-II cities are our only focus for expansion in the country as the top rung are clogged and saturated”.
World Bank has banned Satyam Computer Services for 8 years
Satyam Computer Services has more bad news for their investors.
The World Bank has confirmed reports that they have now placed a ban on the company for a period of eight years.
They would not give any kind of business to Satyam during this time period.
This ban has been said to be applied on the company for data theft charges. The reports also say that Satyam paid bribes to World Bank staff for business.
TR Prasad, independent director on the Satyam Board had this to say on the reports: “The World Bank had never complained or informed us… Satyam’s contract with the World Bank had come up for discussions in an earlier board meeting. We were told that as a matter of policy, the World Bank does not renew contracts with the same vendor for more than five years.”
World Bank spokesperson, Sudip Mazumder had this to say: “Yes, we have banned Satyam from doing business with us.”
IBM establishes a Social Software Research Center
US based tech giant IBM has announced the opening of their new Social Software Research Center.
This new center has been established in Cambridge, Mass.
The company said that this new unit would concentrate on developing collaborative applications and other types of social software.
IBM said: “Web 2.0 is giving us the capability to deliver brand new paradigms of collaboration. This is about people and driving better business outcomes”
This center would also be offering a corporate residency program. IBM currently has deals with Dow Jones and Thomson Reuters for this program.
Lloyds to move 450 information technology jobs to India
British banking company Lloyds TSB has announced their decision to move around 450 information technology jobs to India.
A company representative said: “We’ve announced that we will offshore up to 250 permanent IT roles, but we want to keep these staff so we’re guaranteeing them the offer of another job with the group.”
He added: “Information technology is the backbone of our business and by combining the diverse skills of our staff with those of other companies we can provide the best possible service to our customers.”
This move would result employees working at their London, Manchester, Birmingham, Bristol, Haywards Heath, Gloucester, Andover, Edinburgh offices.
TCS fully acquires TCS do Brasil
Indian IT giant TCS has revealed that they are acquiring the remaining 49 per cent stake in its Brazilian joint venture named TCS do Brasil.
They are paying around USD 33.4 million for this deal and would now own this venture completely.
The company added that TCS do Brasil recorded a topline of 66.5 million dollar for the year ended March 31.
This unit has over 1700 employees and operates from Sao Paulo and Brasilia. Its customer base includes some big profile names like ABN Amro, Good Year and Brasil Telecom.
TCS had entered the Brazilian market in 2002 through a 51:49 joint venture with Grupo TBA. They added that the TCS do Brasil unit has been successful in scaling its business, achieving market penetration and enhancing delivery capabilities, thereby resulting in a high level of customer satisfaction.
Tata Motors to revamp their truck range to compete with global companies
Indian automaker Tata Motors has said that they would totally be revamping their range of truck products to take on the growing competition from the global players.
Tata Motors’ Managing Director Ravi Kant said in a statement confirming these plans: “We are revamping the whole range of products in commercial vehicles.”
India is a growing market and with the golden quadrilateral highway project linking the major metro cities in the country, we do require high performance trucks.
Kant added in his statement that they would be launching its all new trucks with international styling in new markets. He added: “In 2008, we will launch new trucks in the Korean market.”
Tata Motors is one of the largest seller of commercial vehicles in the Indian market. They sold 2,98,586 units of commercial vehicles during the last fiscal.
AT&T to invest $750 million on internet business
US based telecom giant AT&T has said in a statement that they are planning to invest majorly on expanding their internet services.
The company said that it will invest more than $750 million in 2007 to accelerate the delivery of global Internet Protocol services.
They are also planning to expand the solutions they provide to businesses and multinational companies in key markets worldwide.
With this investment the company aims to execute more than 200 initiatives in their global markets around the world.
China: No New Cyber Café this year
The Xinhua News Agency in China has revealed that the government has decided to not allow any new cyber café to open in the country.
The news agency reported that 14 government departments, including the Ministry of Culture and the Ministry of Information Industry has issued a legal notice saying: “in 2007, local governments must not sanction the opening of new Internet bars.”
The country already has around 113,000 Internet cafes. The internet access in the country is highly regulated and this latest news release is just a testimony of the fact that people find it hard to access the internet freely in china.
The government however promotes the usage of internet for education and business. The country however remains the second largest internet market after the United States.
Analysts: Microsoft struggling in online business services
Heather Bellini, an analyst with UBS Investment Research has stated in a report that software giant Microsoft has been struggling to compete against companies like Google with their online services.
This is despite the fact that Microsoft has said that they would eventually trump Google to be number one in online search revenue.
Google is currently the market leader when it comes to generating revenues from online advertising and search based revenues.
The research analyst added that Microsoft is actually losing ground against competitors Google and Yahoo Inc. Microsoft is struggling with its massively redesigned Live search engine.
Research reports have claimed that Google has enhanced their market share in search segment from 56 percent to 65 percent between August 2005 and December 2006. Microsoft’s share in comparison declined from 11 percent to 8 percent.
Time Warner to sell off cinemas in China
US based Media Company Time Warner has confirmed that they are going to sell three of the six cinema halls they operate in China with domestic partners.
These theaters are being sold to local Chinese companies and they are also in talks to offload the rest.
The deal would see Warner Brothers International Cinemas (WBIC) to sell the three cinemas they own in Chongqing, Changsha and Nanchang. The buying party is China Film Group.
The financial aspects of this deal have not been revealed to the media. Time Warner added that this deal would need approval from the Chinese government.