HCL showcases technologies that make societal changes at Davos

Tech firm HCL Technologies will host a three-day event in a special Pavilion, at the World Economic Forum. The pavilion will showcase emerging technologies that are capable of bringing about societal changes, thought-leadership programmes and it will also feature high-level networking and social events during conference (WEF) between January 21st and 25th.

The overarching theme of the HCL and Fast Company programs will explore how humanity’s relationship with technology will evolve through the next decade of rapid innovation.

Microsoft to skill 5 lakh youth in three years

Redmond-based technology major Microsoft has an ambitious mandate to train, skill and develop 500,000 youth across India in the next three years. To this end, the company will set up artificial intelligence (AI) labs in 10 universities and will also upskill over 10,000 developers.

Singed Shalimar Paints plans mega come back

Shalimar Paints, pre-independent India’s first decorative paints and industrial colours company founded by two British entrepreneurs AN Turner and AC Wright in 1902, has embarked on an ambitious come back programme.

The company’s Nashik plant was gutted in a major fire tragedy in November 2016, following which the company had incurred huge financial losses, complete depletion of working capital, severe brand erosion and ebbing away of a sizable chunk of its mind and market share.

Microsoft to include India in venture fund

Microsoft’s corporate venture fund, M12, said it would extend its investing coverage to India to help entrepreneurs innovate and grow with Microsoft’s reach, expertise and technologies.

Venture capital investments in Indian tech business-to-business (B2B) start-ups have been trending upwards with over $3.09 billion raised in equity funding across 415 deals in 2018, 28 percent more than $ 2.41 bn invested in 2017, as per Tracxn.

TCS net profit rises 24%; UK tops revenue growth

India’s tech flagship, Tata Consultancy Services, has opened the third earning quarter season for the industry on Thursday posting numbers that met analysts’ and market expectations.

TCS reported a 24 per cent year-on-year growth in its third quarter (October-December) net profit at Rs 8,105 crore, against Rs 6,531 crore in the corresponding quarter last year. On a quarter-on-quarter comparison, its net profit grew 2.58 per cent. During the period, the company raked in total revenues of Rs 37,338 crore, an annual increase of 20.8 per cent and a QoQ increase of 1.3 per cent.

2019 likely to be a cold year for tech jobs

Tech hiring outlook for 2019 will remain muted throughout the year as companies have not shared any people addition mandate with their human resources (HR) heads and people officers.

Low single-digit, need-based, lateral hiring may take place across Indian technology landscape. But companies in general will stay extremely low-key on hiring, especially when there is uncertainty (of a slowdown) in their key marketplace, the USA.

Coffee output halves from bad weather

India’s coffee production has almost halved in this harvest season, after extreme weather conditions like floods, storms, water logging and landslides during August-September monsoon caused severe plant and bean damages and even washing away of plantations.

The single largest coffee producing district, Coorg, was the most affected by floods and it reported 60 per cent decline in output.

Infy up 3% on talk of fresh buyback

Infosys shares surged over 3 per cent on Monday ami­d reports that software exporter may consider a second share buyback to the tune of $1.60 billion.

BJP accuses Cong of not keeping word in Karnataka

The Karnataka BJP unit on Wednesday accused the Congress of failing to keep up its poll manifesto promise of waiving farmers' loans even after the lapse of six months since its coalition government with JDS was formed.