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Editor's Desk Construction major and cement manufacturer Jaiprakash Associates (JP) is planning to hire 2,000 people in 2009 for its ongoing expansion projects, unlike most of the companies opting for job cuts owing to the financial crunch due to the ongoing economic slowdown. Besides, the company is also planning to give performance bonus and salary hikes to … Read more Jaiprakash Associates plans to hire 2,000 employees this year
Larsen & Toubro (L&T), the capital goods major, has increased its stake in the Kalindee Rail Nirman Engineers to 14.5% from 13.93% through its investment arm — L&T Capital — from the open market. Kalindee Rail is expected to get orders worth Rs 500 crore from the Indian Railways in coming few years. The company … Read more Larsen & Toubro raises its stake in Kalindee Rail
The Indian Banks have been caught on the wrong footing due to the burst in the Real Estate Bubble. The banking sector has demanded the Reserve Bank of India (RBI) to reduce provisions on restructured loan outstanding due of Rs 1 crore or less with small-ticket borrowers. Earlier, the RBI had asked banks to make … Read more Banks demand reducing Home loan provision to 2%
Continuing its strategy to concentrate on infrastructure projects to push the economy, the government has cleared two port projects and five highway projects involving a total investment of Rs 5,220 crore. The projects will be implemented under public-private partnership route. Finance ministry officials said after clearing the projects that the largest among those cleared was … Read more Government clears infra projects worth Rs 5,220 crore
Apple introduced the new Mac Pro using Intel “Nehalem” Xeon processors and a next-generation system architecture to deliver up to twice the performance of the previous generation system.* The new Mac Pro starts at £1,899 (inc. VAT) and features the latest graphics technology and an updated interior that makes expansion even easier than before. System … Read more Apple Mac Pro with Intel Xeon Processors & High-Performance Graphics
Highlights of the call The management is seeing cut in discretionary spend. There is more impact of this on Applications segment and lesser on ITO and BPO segment. The effective tax rate for the Company is 3.2% up 40bps over sequential quarter. The lower tax rate is due to higher capitalization. Going forward, the tax … Read more Mphasis – No salary cuts yet