‘IT enterprises suffering from dated tech & talent’

Many enterprises today are hindered by a patchwork of applications and talent trained for yesterday’s technology. The world of enterprise IT is experiencing a seismic shift that is both technical and cultural. Companies need systems that are boundaryless, adaptable and radically human to thrive in a world of constant change and to be able to innovate at scale, said a recent Accenture study titled “Future Systems.”

Alstom makes Sricity facility its global manufacturing center

International orders for metropolis train sets have lifted Sricity facility, 75 km off Chennai, as a global manufacturing centre of French company Alstom. After delivering Sydney orders, Alstom is now beginning to work on light metro project of Montreal.

The Sricity facility was mainly meant for meeting the fast growing demand from metro rail projects in different cities in India. While the demand is robust, the facility is also bagging international orders.

India 4th highest emitter of CO2

A study has said India is the fourth highest emitter of carbon dioxide in the world, accounting for 7 per cent of global emissions in 2017.

The top four emitters in 2017, which covered 58 per cent of global emissions, were China (27 per cent), the US (15 per cent), the European Union (10 per cent) and India (7 per cent), according to the projection by the Global Carbon Project.

The rest of the world contributed 41 per cent last year, it said.

Cabinet okays sale of govt’s 52.63% stake in REC to PFC

The Cabinet Committee on Economic Affairs on Thursday approved the sale of the government’s 52.63 per cent stake in REC Ltd to Power Finance Corporation (PFC). The government is expected to garner around Rs 15,000 crore from this merger.

“The CCEA gave in principle approval for strategic sale of the Government of India’s existing 52.63 per cent of total paid up equity shareholding in REC Ltd to Power Finance Corporation along with transfer of management control,” Finance minister Arun Jaitley said at a press conference after the Cabinet meeting here.

Hotels accuse leading OTAs of predatory pricing

Hotels have alleged that some of the leading online travel agents are following business practices that are leading to predatory pricing and market distortions. The Federation of Hotel & Restaurant Associations of India (FHRAI) has written to MakeMyTrip, Goibibo and Oyo for solving the issue amicably, failing which it will organise nationwide protests.

India’s most advanced satellite put into orbit

India’s heaviest satellite GSAT-11, which would boost broadband services in the country, was successfully launched by an Arianespace rocket from the French Guiana in the early hours of Wednesday, the Indian Space Research Organisation (ISRO) said.

Blasting off from the Ariane Launch Complex at Kourou, a French territory located along the northeastern coast of South America at 02:07 am (IST), the Ariane-5 vehicle injected GSAT-11 into the orbit in a flawless flight lasting about 33 minutes. 

Consumer durables to become costlier in coming weeks

Consumer durables will become costlier soon, as the companies are going to hike prices starting this month. Recent increase in import duty, rupee-dollar movement and crude oil prices have been hurting the margins of consumer durables.

Barclays to transfer Lithuania operations staff to HCL Tech

International financial services major Barclays has decided to transfer some 460 employees in its operations centre in Lithuania to the technology centre of its tech partner in the Baltic country — HCL Technologies.

The announcement comes after Barclays decided to conclude its operations in Lithuania — a global decision to optimise operations. The remaining employees are being offered redundancy, said a joint media communiqué.

Christian Michel extradited to India

Christian Michel, the alleged middleman in the Rs 3,600-crore AgustaWestland chopper deal, was extradited to India from the UAE on Tuesday night.

Christian Michel, a British national, is wanted in India in connection with the AgustaWestland VVIP choppers scam. The Enforcement Directorate (ED), in its charge sheet filed against Michel in June 2016, had alleged that he received EUR 30 million (about Rs 225 crore) from AgustaWestland.

I-T Act redrafting panel may not change tax slabs

The task force set up to redraft income tax (I-T) law will focus on removing the ambiguities, rather than suggesting dramatic policy changes and tweaking of tax rates, the panel’s convenor Akhilesh Ranjan said on Tuesday.

Ranjan said the six-member task force formed to redraft the over 50-year old I-T law will meet shortly to draft a new law, which will be more comprehensible.

“Tax rate is prima-facie not the main focus area of this task force.... (task force will focus on) simplification which can remove the ambiguities,”  Ranjan told mediapersons.