Infosys writes off its investment in US firm

INDIA’s IT giant Infosys has said in a regulatory filing that it has written off $4.5 million (£3.5m) it had invested in US startup Waterline Data Science. The Bengaluru-based company had made the investment through its innovation fund in two tranches in 2016 and 2018. The $500m innovation fund has backed around 10 startups and invested in two […]

Sonia Syngal becomes CEO of US apparel retail giant Gap Inc  

AMERICA’S largest apparel retail giant Gap Inc has named Indian-American Sonia Syngal as its new chief executive officer (CEO), effective from March 23. The latest move by the business marks a rare elevation of a woman despite her colour and origin in the white-dominated US corporate world. Gap Inc described Syngal, 46, as an accomplished retail leader and CEO of the portfolio’s Old Navy business since 2016. Syngal will also join the Gap […]

Vistara gets its first B787-9 Dreamliner

VISTARA took the delivery of its first wide-body Boeing 787-9 Dreamliner plane on Friday (28), making it the first Indian airline to fly this aircraft. The plane, which has the registration number VT-TSD, will depart from the Boeing facility here at 02.00 pm (local time) on Friday and land in Delhi at 02.00 pm (local […]

Trump warns of more sanctions on Venezuelan oil sector

THE US is preparing to impose more sanctions on Venezuela’s oil sector, president Donald Trump said on Tuesday (25), in an attempt to choke financing to president Nicolas Maduro’s government. “You will be seeing something on that in the not too distant future,” Trump told a news conference in Delhi when asked if Washington would […]

Working on a big trade deal with India: Trump

US president Donald Trump said the US and India were working on a major trade deal, but he was not sure if it would be completed before the US presidential election in November. As Trump heads to India on his first official trip on Monday (24), negotiators have been trying for weeks to put together […]

US ready to meet India’s energy demand: White House

THE US is ready to supply oil and gas to energy-hungry India as much as it wants as there is a huge potential for bilateral cooperation in the key sector, a top White House official has said ahead of president Donald Trump’s maiden visit to the country. Larry Kudlow, economic advisor to Trump, said that […]

Indian IT firms create 0.5 million jobs in US

Indian IT companies provide half-a-million high-paying jobs in the US, a new report has said. In 2018, Indian IT employed nearly 180,000 people in the US and supported an additional 340,000 jobs across the US economy. These companies are estimated to have paid an average compensation of $96,300 to its US employees in 2018, higher […]

The US is India’s preferred trade partner in $5 trillion journey

AMERICA is India’s preferred trade partner in its journey to become a $5 trillion economy by 2024, said the new Indian envoy to the US, Taranjit Singh Sandhu. Addressing a gathering of the American business community at a reception hosted by the US-India Strategic and Partnership Forum on Friday (7), Sandhu said that the potential […]

US created 225,000 new jobs in January

THE US economy has added 225,000 Jobs in January, and the jobless rate was 3.6% during the period. Wages increased 3.1% from a year earlier, compared to December’s annual rise of 3%. Over the past three months, the US economy added an average 211,000 jobs. Job growth was revised higher in the last four months […]

US pushing India to buy $5-6bn more farm goods to seal trade deal

THE US wants India to buy at least another $5-6 billion worth of American farm goods if New Delhi wants to win reinstatement of a key US trade concession and seal a wider pact, four sources familiar with the talks told. US president Donald Trump cited trade barriers last year when removing India from its […]