His online marketplace might be the most visited shopping site in India, but for Jeff Bezos, founder and chief executive officer of technology giant Amazon, it is still Day 1 in the second most important market for the company outside the US. From talking about how Alexa, its cloud-based voice service, plays devotional songs in local Indian languages to Amazon India working closely with communities in rural areas, Bezos tried to ascertain that the online marketplace had now become part of the culture in the country and had adapted all its services and offerings accordingly.

At a time when most analysts see margin pressure on domestic IT firms due to increased onshore hiring, Infosys on Wednesday said that the company expects hiring of fresh graduates in the US to its workforce to aid its profit margins, at least in the short-term.

As a part of its localization drive, the Bengaluru-based company, during the past 12 months, have added 4,000 engineers in the US, and is looking at hiring 6,000 more by 2021.

The Union Cabinet chaired by Prime Minister Narendra Modi has approved the continuation of the Polar Satellite Launch Vehicle and Geosynchronous Satellite Launch Vehicle Mark-III programmes, worth more than Rs 100 billion.

The cabinet also gave its nod for the funding of thirty PSLV operational flights under the Programme.

BSNL has reportedly introduced new broadband plans to attract more customers and retain the existing ones as the onslaught by Airtel keeps growing and before Jio commercially launched the Jio Fiber broadband services in the country. The state-run telco is now offering four new broadband tiers with daily data limits with speeds of up to 20Mbps.

With an aim to provide impetus to early-stage startups, markets regulator Sebi has increased the maximum investment limit by angel funds in venture capital undertakings to Rs 10 crore from the current Rs 5 crore. In this fast changing ecosystem, wherein angels are investing much higher amounts, such increase is needed to provide more opportunities to angel funds, industry experts believe.

NEW DELHI: Markets perked up on Wednesday, as value buying set in ahead of a decision on monetary policy by the Reserve Bank of India (RBI) where it is widely expected to keep benchmark interest rates on hold.

An increasing number of economists expect the central bank to raise interest rates, a Reuters poll showed, but most still think it will stay put and use this week’s meeting to prepare for a rate increase in August.

New Delhi: Former oil secretary Vivek Rae has resigned as independent director from the board of Indian Oil (IOC) owing to differences with the company management.

In a regulatory filing, IOC said, "Vivek Rae, independent director, has ceased to be a director on the board of IOC with effect from June 4, 2018, consequent upon his resignation on June 3, 2018."

India cricket captain Virat Kohli is among the world’s highest-paid athletes, according to a Forbes’ compilation topped by American boxing champion Floyd Mayweather.

Kohli, the only sportsperson from India to be featured in the list, is ranked 83rd with earnings of USD 24 million.

The rupee strengthened by 11 paise to 67.04 against the dollar at the interbank forex market today ahead of the announcement of RBI’s monetary policy amid fresh selling by exporters and higher opening of the domestic equity markets. Dealers said besides fresh selling of dollar by exporters, dollar’s weakness against some currencies overseas amid lingering concerns about global trade supported the rupee.

India may be the biggest beneficiary of solar industry reforms in China that are poised to reduce prices for photovoltaic panels. China announced last week it was halting approvals of some new solar projects this year and cutting subsidies to developers to ease its pace of expansion. That’s expected to slow demand in the world’s biggest market, weakening prices, and force the country’s manufacturers to ship more panels overseas.

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