IOC tops Fortune India 500 list, RIl at second spot
State-run Indian Oil Corp has emerged as the country's biggest company in terms of annual revenue, followed by Mukesh Ambani-led private sector giant Reliance Industries at the second place, as per an annual list of Fortune 500 companies in India.This year's list of the country's 500 largest corporations, compiled by the global business magazine Fortune's Indian edition, shows that there are as many as seven energy companies in the top 10 list.Indian Oil Corp (IOC) was the biggest with annual revenue of Rs 4,75,867 crore, followed by Reliance Industries (RIl) with a full-year revenue of Rs 4,09,883 crore.
Sumit Bose is the new Finance Secretary
Revenue Secretary Sumit Bose, an IAS officer of 1976 batch, will be the new Finance Secretary."Sumit Bose, IAS, Secretary, Department of Revenue, Ministry of Finance, designated as Finance Secretary," said an official release on appointments cleared by the ACC. Bose, a Madhya Pradesh cadre officer, is the senior most Secretary in the Finance Ministry.
ZTEsoft to invest up to Rs245 cr in India next year
Chinese telecom giant ZTE's IT arm ZTEsoft will invest up to $40 million (about Rs245 crore) in India next year to set up an innovation centre and hire 300 people in a bid to ramp-up operations and increase presence in the world's second largest mobile user country.
At present, ZTEsoft -- a subsidiary of telecom equipment major ZTE Corporation -- manages software services for BSNl in three zones, nine circle operations of Sistema Shyam and two circles of Idea Cellular.