IT Minister Raja promises extension of tax benefits for IT firms-R s

SiliconIndia Daily dose

Tuesday ,June 02 , 2009
Top news
The IT industry has reasons to rejoice as Communication and IT Minister A. Raja Monday promised the extension of tax benefits under the Software Technology Park of India (STPI) scheme, which is due to expire by March 2010.
Eight Indian cities are listed among the world's 25 riskiest places for offshoring, mainly on concerns like terrorism, pollution and geopolitical issues in the country, says a study by U.S. based Brown-Wilson Group.
Despite the global slowdown, the online shopping in India has increased.
The Indian telecom industry saw a dip in the number of new subscribers in April - 11.75 million telephone connections were added, compared to 15.87 million in March, an official statement said here Monday.
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While companies are relentlessly slashing jobs as a retrenchment measure amidst declining profits, the CEOs are raking hikes up to 27 percent. Four out of every five CEOs covered by a study got a pay hike, even as half of the companies made losses.
Storied carmaker General Motors (GM) filed for bankruptcy Monday, becoming the largest-ever US manufacturer to enter the court process and marking the latest dark chapter for the struggling U.S. auto industry.
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PTC India, which is the largest power trading solutions company in India, plans to raise private equity funding for power projects via qualified institutional placements (QIPs) of shares.
Pixelligent Technologies has closed $2 million in new equity financing round led by local angel investors, a renowned coast-based tech entrepreneur and the company's
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