18th oct-22nd oct

1. News from 18th oct-22nd oct
Submitted By: Reetika Gupta
S U B M I T T E D B Y : R E E T I K A G U P T A

2. Hutch deal: I-T Dept asks Vodafone to pay Rs 11,218 cr as tax
 Indian tax authorities on Friday asked Vodafone to pay Rs 11,218
crore ($2.53 billion) tax on its 2007 purchase of Hutchison
Whampoa Ltd's mobile business in the country.
 The tax demand is to be paid within 30 days of the receipt of the
notice of demand
 Vodafone, whose joint venture with India's Essar group is one of
India's largest mobile operators, maintains that it does not owe
tax on the $11 billion transaction because it took place between
two foreign entities.

3. Signed 8 deals, 11 in pipeline: N Chandrasekaran, CEO, TCS
 From a deal perspective, They have signed 8 large deals in the
quarter -- two in the BFSI sector, two in the retail sector, one each
in life science, insurance, media and the government sector
 In terms of a pipeline, they are pursuing about 11 large deals
across markets, across industries - a good pipeline indeed.
 The hiring target is based on the current rate of attrition and the
future demands. In view of that, they have increased it by another
10000 from the target of 40000 we gave last quarter to 50000.

4. MphasiS to open centre in Australia
 IT firm MphasiS announced the opening of its first delivery
center in Australia at the University of Wollongong.
 The location of the center will enable the company to work
closely with the University, on initiatives like training,
recruitment, and research and development in the ICT space,
MphasiS said in a statement

5.  Headquartered in India, MphasiS is an HP Group company
providing applications services, remote management services and
BPO services to healthcare, government and retail industries
 The company will focus exclusively on customers in Australia
and New Zealand through this centre and will offer specialized
services to the telecommunication industry.

6. Rupee appreciation not abnormal: Pranab
 The rupee appreciation is not abnormal. As and when RBI feels
that intervention is necessary, they start intervening. But I'm not
very much worried because our situation will not be of that level
 RBI had intervened in markets last week to restrain a sharply
appreciating rupee.
 The Finance Minister said that if rupee continued to appreciate
for longer, exports would be impacted.