After decline in profitability and piling debts, the telecom sector is in the middle of a large-scale layoff. Estimates suggest more than 25,000 direct employees across telcos may have been hit over the past few months and that several more thousand jobs may face the axe soon. Overall, more than 100,000 telecom jobs, including indirect employment, could be at risk.

The sector is going through a challenging phase and consolidation is a reality. Recent merger announcements include those between Reliance Communication (RCom) and MTS, Bharti Airtel and Telenor, Vodafone and Idea Cellular.

Pakistan's Inter-Services Intelligence (ISI) has allegedly launched another militant outfit named "Halal Dasta" which consists of members of the banned terror outfit Lashkar-e-Taiba (LeT). The new terror outfit literally means "Killer Squad". Halal Dasta is operating along with Pakistan Army's Border Action team or BAT, reports Zee News based on inputs from top Indian intelligence sources.

“We have the potential to create no less than a million jobs around railways if we can provide an enabling environment,” said Minister of Railways and Coal Piyush Goyal at the World Economic Forum’s India summit on Thursday.

While Railways is already one of the country’s biggest employer, the scope to create jobs is immense.

Swedish luxury car maker Volvo Cars on Thursday said it has appointed Charles Frump as the new Managing Director of Indian operations.

Frump replaces Tom von Bonsdorff who has moved to his home country Finland to pursue a new assignment within the Volvo Group after completing his tenure in India.

Mumbai: The Securities and Exchange Board of India (Sebi) has written to Raymond Ltd questioning the textile maker’s real estate agreements for JK House Ltd and a property at Alibaug used as a guest house, said three people with direct knowledge.

The regulator has also questioned whether the firm made any related-party transactions that were not reported to shareholders after Sebi’s Listing Obligation and Disclosure Requirements (LODR) norms came into force in September 2015, these people said.

The rupee declined 9 paise to 65.10 against the dollar today after economic data showed the US economy in a more positive light.

Fresh demand for the American currency came in from importers and banks.

A young leopard entered into the Suzuki Powertrain plant near here in Haryana early on Thursday. Fearing an attack by the big cat the management halted production.

The animal entered the premises of Suzuki Powertrain India Limited in sector 8 (Phase 1) of Tau Devilal Industrial Model Township (IMT) in Manesar on the Delhi-Jaipur-Mumbai national highway.

WiproBSE 0.12 % said its digital unit had acquired San Francisco-based design consultancy Cooper for $8.5 million to grow its digital innovation capabilities.

Cooper is credited with inventing many tools and approaches used in design, including the Goal-Directed Design method and personas as a practical interaction design tool, Wipro said. It employs 35 people in offices in San Francisco and New York and provides consulting and training services to top brands including Fortune 500 companies, leading non-profits and government agencies.

Bank unions on Wednesday threatened to go on a strike over non payment of their dues while they worked overtime during the demonetization drive that happened in November last year.

Depending on the salary, a bank employee is likely to receive around Rs 100 to Rs 300 for every extra hour. CH Venkatachalam, General Secretary of All India Banks' Employees Association (AIBEA) told Hindustan Times that the issue has been brought to the notice of the government and if no action is taken they are likely to go on a strike or even take legal action.

Key indices on Thursday were back in red after opening on a positive note. At 10:48 AM, Sensex was down 0.04% to reach at 31,659.28, Nifty on other hand also was down by 0.04% to trade at 9,910.80 mark.

Mahindra and Mahindra, HUL and Reliance were the top gainers, while NTPC, Wipro, Bharti Infratel and Tata Motors lost the most in early trade. Domestic institutional investors (DIIs) bought shares net Rs 584.88 crore while foreign portfolio investors (FPIs) dumped equities of Rs 632.14 crore yesterday, showed provisional data.

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