INDIA NEWS | Thu, 30 Jun 2022, 12:49AM ISTCorporate India is sticking to its current work mode strategy with those that have opened offices keeping their doors open for employees despite Covid-19 infections rising across the country once again. Companies such as Panasonic and NTT Data Payment Services continue to have most of their employees coming to offices while others like ITC, Flipkart, Wipro, TCS and Deloitte are following a hybrid work model. "While we have opened up our offices across locations, we continue to operate a hybrid model with employees having the flexibility to work from home up to 2 days in a week, with prior approval," said Amitav Mukherji, head of corporate human resources at ITC Ltd. But in case of any extenuating circumstances, employees can apply to work from home for a longer duration, he added. Flipkart has reopened its corporate office in phases and has adopted a hybrid model beginning March 2022 with different teams of employees working remotely and from office on different days of the week. 92555682"By maintaining a flexible approach, we are able to customise solutions based on employee needs - for example, for certain types of roles and based on talent density, we have opened up additional offices in multiple locations across the country," said Krishna Raghavan, chief people officer at the ecommerce marketplace. "We will continue to remain flexible in our approach and modify our model as needed based on both employee needs and external factors at Flipkart." Companies are not letting their guard down with strict protocols at offices, tracking cases, and organising or reimbursing for boosters for staff. Panasonic India is organising a vaccination drive for booster shots for employees while Deloitte is providing reimbursements for booster dose. "We are continuing to exercise caution at work, be it social distancing or, following regular safety protocols," said Adarsh Mishra, chief HR officer at Panasonic India. "We have also installed Coronaguard filters as an added safety measure, in our office premises. We continue to encourage hybrid meetings to help employees manage their daily schedule smoothly."At Deloitte, employees are coming to office only on the days prescribed by their team's requirements and must book seats on an internal app. "This is our preferred mode of working for now," SV Nathan, partner and chief talent officer at the professional services firm told ET. NTT Data Payment Services, where almost all the employees were operating from office till recent rise in Covid-19 cases, is "currently operating at 50-60% capacity", its CEO Dewang Neralla said. The country's top IT services company TCS is adopting a 25/25 model where no more than 25% of its associates will work from an office at any given point in time, and they need not spend more than 25% of their time in the office. "But an important part of the journey to the 25/25 model is to first bring people back to physical offices and gradually transition into the hybrid work model," a TCS spokesperson told ET in an emailed response. TCS has set up agile work seats worldwide, which allow its employees to work and engage with team members from any TCS office. It has also set up occasional operating zones (OOZ) and hot desks.
INDIA NEWS | Thu, 30 Jun 2022, 12:45AM ISTRahul Sharma, India mobility leader, Mercer, said, Global supply chains for necessities have been disrupted as a result of Covid-19-related volatility, which has been exacerbated worse by the conflict between Ukraine and Russia. As a result of this uncertainty, organisations have been forced to revaluate their global mobility initiatives.
INDIA NEWS | Thu, 30 Jun 2022, 12:15AM ISTSince January this year, raw material costs for restaurants have risen between 5% and 20% as vendors are renewing contracts at higher rates given the rising inflation.
INDIA NEWS | Thu, 30 Jun 2022, 12:06AM ISTThis is the single largest investment by NIIF's master fund and takes the vehicle's total investment in DP World's India arms to $500 million, as per an official statement
INDIA NEWS | Wed, 29 Jun 2022, 11:58PM ISTIn a deft diplomatic move, India worked with China to block entry of Pakistan to BRICS plus event last Friday. Pakistan, in a surprise move, made attempts to enter the BRICS outreach event for emergng economies that included Algeria, Argentina, Cambodia, Egypt, Ethiopia, Fiji, Indonesia, Iran, Kazakhstan, Senegal, Uzbekistan, Malaysia, and Thailand.However, India moved swiftly to block Islamabad. As the BRICS chair for 2022, China reportedly agreed to India, and prevented the entry of its all-weather ally" to the BRICS outreach event, which was addressed by PM Narendra Modi. New Delhis position was also reportedly backed by Russia, ET has learnt.It may be recalled that the Indian envoy to China met Foreign Minister Wang Yi ahead of the BRICS Summit to discuss a slew of bilateral and international issues.Interestingly, Pakistan doesnt fit into the category of emerging markets unlike other invitees to BRICS meet and its economy is staring at a major crisis like that of Sri Lanka. Pakistan may even default on loan repayments.In a statement, the Pakistani Foreign Office Monday said: We have noted that this year a High-level Dialogue on Global Development was held as a BRICS side event in which a number of developing and emerging economies were invited Regrettably, one member (of BRICS) blocked Pakistans participation."When Chinese foreign ministry spokesperson Zhao Lijian was asked about the issue by the staterun Associated Press of Pakistan at a regular news briefing on Monday, he replied the decision to hold the high-level dialogue was based on consultation among BRICS countries, but did not elaborate.Islamabad is reportedly upset with Chinas position to block its entry into BRICS. Beijing has been frustrated with how governments in Pakistan have mishandled the countrys economy, slowing down the progress of projects related to China-Pakistan Economic Corridor (CPEC).There are negotiations going on between Islamabad and the International Monetary Fund to resume the $6 billion bailout package. Pakistan's foreign exchange reserves have depleted to a critical level and the country has less than six weeks of import cover remaining. The reserves are currently below $9 billion, according to Pakistan media reports.
INDIA MARKET | Wed, 29 Jun 2022, 11:49PM ISTFederal Reserve Chair Jerome Powell said there's no guarantee'' the central bank can tame runaway inflation without hurting the job market.
Speaking Wednesday at a European Central Bank forum in Sintra, Portugal, Powell repeated his hope that the Fed can achieve a so-called soft landing raising interest rates just enough to slow the economy and rein in surging consumer prices without causing a recession and sharply raising the unemployment rate.
We believe we can do that. That is our aim,'' he said. But the Russian invasion of Ukraine, he said, had made the job more difficult by disrupting commerce and driving up the price of food, energy and chemicals.
It's gotten harder,'' Powell said. The pathways have gotten narrower.''
ECB President Christine Lagarde echoed the major impact" of energy shocks, which are rippling worldwide but felt acutely in Europe because of its reliance on Russian oil and natural gas. She also pointed to Europe's proximity to the war in Ukraine and said how
INDIA BUSINESS | Wed, 29 Jun 2022, 11:41PM ISTTech Mahindra managing director and chief executive CP Gurnani's remuneration for FY22 jumped 189 per cent to Rs 63.4 crore, the fifth-largest IT exporter said on Wednesday.
In its annual report for the fiscal, Tech Mahindra said Gurnani's remuneration, including salary, stock compensation benefits and post-employment benefits was Rs 21.9 crore in the year-ago period.
Among Gurnani's peers, TCS chief Rajesh Gopinathan saw a 26 per cent rise in his compensation to Rs 25.75 crore in FY22, while Infosys' Salil Parekh witnessed a 43 per cent jump to Rs 71.02 crore.
Gurnani's salary was 1,188.74 times the median salary of Rs 5.27 lakh in Tech Mahindra. The median salary declined by 1.04 per cent during the fiscal.
Shareholders of the company will be voting on a proposal to re-appoint Gurnani for over one year at the company's forthcoming AGM, the annual report said.
The current term of Gurnani, who has been at the helm since 2012, expires in August and will be retiring on December 19,
INDIA BUSINESS | Wed, 29 Jun 2022, 11:39PM ISTIt is informed that the exercise of determining the Indian Embedded Value (IEV) as on March 31, 2022, may take some more time to get completed, LIC said in a statement.
INDIA MARKET | Wed, 29 Jun 2022, 11:36PM ISTSeveral BJP legislators and senior leaders gathered at the residence of former chief minister Devendra Fadnavis in Mumbai following the resignation of Maharashtra chief minister Uddhav Thackeray.
Many leaders of the BJP, including state unit ...
INDIA BUSINESS | Wed, 29 Jun 2022, 11:35PM ISTActis announced Bridgin Power following its acquisition of a 49 per cent stake in the Shapoorji Pallonji group's 220-MW combined cycle gas turbine power plant in Bhola region of Bangladesh
INDIA MARKET | Wed, 29 Jun 2022, 11:32PM ISTSupreme Court refused to stay Maharashtra Governor's direction to the Shiv Sena-NCP-Congress Maha Vikas Aghadi government to take a floor test in the Assembly on Thursday
INDIA MARKET | Wed, 29 Jun 2022, 11:30PM ISTSeveral BJP legislators and senior leaders gathered at the residence of former chief minister Devendra Fadnavis in Mumbai following the resignation of Maharashtra chief minister Uddhav Thackeray.
INDIA BUSINESS | Wed, 29 Jun 2022, 11:16PM ISTNow such suppliers will not have to obtain GST registration, if their turnover is lower than Rs 40 lakh and Rs 20 lakh for goods and services, respectively. This would come into effect from January 1, 2023.
INDIA NEWS | Wed, 29 Jun 2022, 11:07PM ISTTraders' body CAIT on Wednesday said it will launch a campaign from July 10, demanding the Delhi government to withdraw the five-month ban on entry of medium and heavy goods vehicles in Delhi
INDIA BUSINESS | Wed, 29 Jun 2022, 11:01PM ISTBanks are staring at significant mark-to-market losses in April-June quarter as some of them approached the Reserve Bank of India seeking a one-off relaxation following rises in bond yields.
INDIA NEWS | Wed, 29 Jun 2022, 10:59PM ISTFadnavis is expected to reach the Raj Bhavan to stake claim to form the government, according to reports. However, when he is going to stake claim is still not clear.
INDIA BUSINESS | Wed, 29 Jun 2022, 10:51PM ISTToppr's sacked employees said that they got a call from the company on Monday and were asked to resign, failing which they will be terminated without any notice period.
INDIA BUSINESS | Wed, 29 Jun 2022, 10:44PM ISTGroup chairman Sajjan Jindal said that the company has contracted for about 1 GW of renewable energy, of which 225 MW became operational in April 2022, and the balance will come on stream in phases.
INDIA BUSINESS | Wed, 29 Jun 2022, 10:28PM ISTThe last pacer-captain that India had was the great Kapil Dev, who was removed from captaincy in 1987. Since then, India has never had a speed merchant leading the team in traditional cricket.