< Back Wipro wins $500 mn contract from Nokia for five years 12 Jun 2024 Wipro will offer managed services for some Nokia products and industry solutions for five years. On June 6th, Wipro announced securing a $500 million contract from Nokia, a leading American communication services provider. As per the contract, Wipro will build a customised cloud-based AI-powered solution for Nokia’s 86,700 employees across 130 countries. The solution will provide faster, smoother, and real-time IT support and an improved service desk for Nokia’s employees. The software will be omni-channel, always on, and experience-driven. It will be powered by Designit, a Wipro company, and facilitate a hybrid work environment. In the last quarter of FY2024, Wipro won deals worth $3.6 billion while its order book for the whole year was $14.9 billion. Wipro closed 18 big deals in Q4 compared to 14 in Q3. The deal happened two months after Srinivas Pallia became the new CEO. Last December, the departure of Wipro’s Chief Growth Officer and Head of Large Deals, Stephanie Trautman, made it challenging for the company to secure big deals. Previous Next

< Back Drone attack on UAE nuclear plant raises alarm across West Asia 18 May 2026 UAE intercepted two drones. One reached nuclear site’s outer area; officials warn the attack marks a serious escalation in regional tensions. A drone strike sparked a fire on the perimeter of the Barakah Nuclear Energy Plant in Abu Dhabi’s Al Dhafra region, the UAE’s only nuclear power facility. The blaze broke out at an electrical generator outside the inner security perimeter. Authorities reported no injuries, no radiological leak. All four reactor units continued operating normally with safety systems unaffected. As per the UAE Defence Ministry, three drones entered from the “western border”; air defences intercepted two, while one hit the generator. An investigation is underway to identify the perpetrators, and no group has claimed responsibility so far. The UAE, India, Saudi Arabia, and Qatar condemned the incident as a “dangerous escalation” and a “terrorist attack,”. It sparks fears that targeting Barakah, which supplies around a quarter of the UAE’s electricity, could further destabilise an already fragile US‑Iran ceasefire and broader West Asian security. Check out my books, The Black Flames , The Flames Turn White , and crawlers , a poetry collection on KINDLE . Previous Next

< Back Fear of ‘Economic nuclear winter‘ looms as global stock markets crash 7 Apr 2025 Bill Ackman, a billionaire investor, recently called out the looming fear of an economic "nuclear winter" due to the ongoing global trade war. With the US tariff hikes on 60 countries taking effect on April 2nd, some Asian indices reported their worst decline in 14 years. Indian indices fell by around 5%, Hong Kong’s Hang Seng by 12%, Japan’s Nikkei 225 by 8%, Taiwan's Taiex by 9.8%, China's CSI 300 by 8.08%, Australia’s S&P/ASX 200 by 4.4%, South Korea's Kospi by over 5%, and Shanghai’s SSE Composite index dropped by 8%. US indices, including the Nasdaq and S&P 500, suffered their worst two-day decline since March 2020, dropping by almost 6%. Dow Jones Industrial Average nosedived 2,200 points in one day, thus erasing over $6.6 trillion in overall market value. Global Brent crude oil benchmark tanked by 2.94% to $63.51 per barrel, its lowest in three years, and oil prices dissolved by 4% to $59.49 a barrel. Saudi Arabia reduced its crude oil prices by $2.30 per barrel for Asian buyers. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back Income Tax Bill 2025 may improve compliance 13 Feb 2025 It introduces the term ‘Tax Year’ – 12 months from April 1. The term will replace the existing concept of assessment and previous years. The new Income Tax Bill is proposed to be implemented from April 1, 2026. It rewrites the direct tax law to improve compliance and reduce litigation. It retains the old tax regime, rates, and capital gains for individuals and businesses. There will be no change in tax rates or introduction of any new taxes for individual salaries. However, the Bill consolidates deductions like standard deduction, gratuity, and Tax Deducted at Source (TDS) into one place and introduces a formula for calculating depreciation and taxes. Incomes not included in the total income that were earlier part of the main body of the IT Act have been shifted to separate schedules to simply the new Bill. The Bill introduces Section 275 )6) mandating the Dispute Resolution Panel (DRP) to provide detailed directions, explaining the points of determination, the decision, and its reasons. It will enhance transparency and reduce reliance on past rulings. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back BMW outruns Tesla in European sales of EVs 23 Aug 2024 BMW sold 308 more EVs than Tesla in July for the first time. A lack of government incentives and buyers’ concerns about unpredictable resale value prompted a 6% decline in annual sales of Electric Vehicles (EVs) in Europe. As a result, sales of Tesla EVs fell by an average of over 16% in July. This favoured BMW, which sold 308 more EVs than Tesla for the first time. A strong brand reputation, a more comprehensive variety of EVs at a diverse price range, and an extensive dealer network helped BMW create a loyal following. Comparatively, Tesla always focused on the high-end market with its Model S, Model 3, and Model X. This enabled the German carmaker to attract the consumer segment looking for more affordable cars for whom Tesla was out of budget. BMW is also investing heavily in its battery and charging technology. It has partnered with various companies to expand its charging network across Europe to serve a diverse customer base. Previous Next

< Back Rolling Stone, Variety owner sues Google over AI summaries 16 Sept 2025 This is the first time Google is being sued over AI-generated summaries that appear at the top of its search results. Penske Media, the owner of Rolling Stone, Variety, and Billboard, sued Google in the Washington, D.C., Federal Court. It claims that Google use its journalistic content without consent, thus reducing traffic to its websites. It alleges that around 20% of Google search results linked to Penske websites show AI overviews, and its revenue has fallen by over a third from 2024-end. Penske pointed out that Google includes publishers’ websites in search results only if it can use their content in AI summaries. It could impose such terms due to its search dominance. Without this, Google would end up paying the publishers for the right to republish their work or use it to train their AI systems. Penske attracts 120 million online visitors per month. Several news organisations have also argued that Google’s AI Overviews pull traffic away from their sites, thus hogging their ad and subscription revenue. Check out my new book, THE BLACK FLAMES , on Amazon Kindle. A gripping, high-stakes novel. ⭐⭐⭐⭐.6 stars on Amazon ⭐⭐⭐⭐⭐ on Goodreads Previous Next

< Back Ola shutting down int’l business from April 12 10 Apr 2024 It is pulling out of the UK, Australia, and New Zealand markets and focusing on strengthening its India business with an IPO. Ride-hailing giant Ola Cabs is pulling out of all international markets for three reasons. First, the rising competition from Uber and emerging startups in these markets pushed Ola to reevaluate its strategies. Second, the growing governmental push on electric vehicles (EVs) in these nations meant converting its entire fleet to EVs, which demands significant investment. Third, it wanted to focus on the burgeoning Indian market, especially the EV segment. This move can save Ola USD 15 million yearly. In FY2023, Ola incurred GBP4.8 million worth of losses in the UK. Ola suffered major leadership exits. In 2018, it hired the former eBay Country head, Simon Smith, to lead the Australian market and the former COO of Google Europe, Ben Legg, to head the UK operations. Both quit in around two years. Chandra Nath was brought in from Silicon Valley to head global operations. He left in less than a year. Previous Next

< Back Nokia wins Airtel extension deal to deploy 4G. 5G gear 26 Nov 2024 Nokia will deploy equipment to boost Airtel’s network and coverage with 5G capacity and upgrade its existing 4G network. Airtel had finalised Nokia, Ericsson, and Samsung to buy 4G and 5G gear worth $1.2 billion over the next three years but sealed the deal with Nokia. The Finnish telecom company will provide its 5G AirScale portfolio along with base stations, baseband units, and the Massive MIMO radios (latest generation) powered by ReefShark System-on-Chip. Its equipment will enhance Airtel’s existing network with 5G capacity and upgrade the 4G network with multiband radios and baseband equipment capable of supporting 5G, too. This partnership will enable the highest quality connectivity for Airtel subscribers, and the Green 5G Initiative will boost the network’s energy efficiency. Airtel will use Nokia’s MantaRay Network Management for intelligent network monitoring and management. This software uses AI-based tools for digital deployment, technical support, and optimisation. Vodafone Idea (Vi) recently closed a $3.6 billion deal with Samsung and two European vendors to upgrade its 4G and launch 5G. Previous Next

< Back JSW Steel-JFE to acquire Thyssenkrupp Electrical Steel for ₹4,051.4 crore 21 Oct 2024 JSW Steel has a 50:50 joint venture with Japan’s JFE Steel Corp that will acquire a 100% stake in Thyssenkrupp Electrical Steel India (TKES). The JSW Steel – JFE joint venture is set to fully acquire Thyssenkrupp Electric Steel, including licensing or transferring its associated technology to enhance its portfolio of value-added steel products. TKES’s Nashik facility makes grain-oriented electrical sheets (GOES), which are used to manufacture energy-efficient transformers and bigger, high-performance generators. Jsquare Electrical Steel Nashik, the JSW-JFE joint venture, will execute the transaction. It expects to achieve immediate market access with this acquisition. The acquisition will enable the JSW-JFE joint venture to make GOES in India for domestic and global customers. Presently, India imports the majority of the GOES from Japan, Russia, and China. ArcelorMittal, POSCO, and Baosteel are the biggest global manufacturers of GOES. The market for GOES is valued at around $13 billion worldwide, projected to reach $20 billion by 2032. The acquisition is expected to be completed within eight months, subject to approval from the Competition Commission of India. Previous Next

< Back Govt may break four-tiered GST slab into two by Diwali 21 Aug 2025 The 5%, 12%, 18%, and 28% rate system would be replaced by 5% and 18% rates. The GST Council will meet in September to finalise the launch of new rates. Besides making certain items cheaper, it will correct the inverted duty structure, which means the GST paid on raw materials and services is higher than the one on the final product. For instance, yarn is taxed at 5% and finished garments carry a 5% GST rate, which requires the manufacturer to pay more tax on raw materials than on sales of finished products. The new regime will reduce the refund delays and facilitate manufacturing. It will simplify product categorisation, facilitate pre-filled returns and quicker registration for MSMEs. Products with 5% GST Personal care items, like toothpaste, soaps, and hair oil. Food and groceries Electronics Apparel and footwear Health Education Transport and Energy products, such as public transport vehicles, solar water heaters, and agricultural machinery. Products with 18% GST Items used in construction Appliances Automotive Beverages Check out my DEBUT BOOK, The Black Flames , on Amazon Kindle. Previous Next

< Back India to procure ₹10,200 crore ammunition to make Pinaka rockets 30 Jan 2025 The Cabinet Committee on Security (CCS) approved the largest ammunition contract for India to date to procure the ammunition. The Indian government is ready to procure ammunition worth ₹10,200 crore for the Army’s Pinaka multi-barrel rocket launcher systems. Two contracts will be signed to procure highly explosive pre-fragment ammunition (worth ₹5,700 crore) and Area Denial Munitions (worth ₹4,500 crore) developed by the Defence Research and Development Organisation (DRDO) and the Armament Research and Development Establishment (ARDE). The Pinaka system was designed to offer the Army a powerful, multi-barrel rocket launcher capable of quick and accurate heavy firepower. Due to its success rate, the Army already deploys ten of these rockets and is likely to use more. The original version had a firing range of 37.5 kilometres, but the improved Extended Range Pinaka can fire up to 75 kilometres. DRDO transferred the technology to Economic Explosives Limited (EEL) and Munitions India Limited (MIL) to make the ammunition for the rockets. The contracts will be signed by March 31st. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp, LinkedIn, Facebook, X, and Instagram. Previous Next

< Back Mukesh Ambani buys 26% stake in Adani’s Mahan Energen 15 Jul 2024 The deal, announced in March, has now been completed. Reliance Industries has bought five crore shares of Adani Power subsidiary Mahan Energen for ₹50 crores. Adani Power’s subsidiary Mahan Energen, established in 2005, runs a thermal power plant in Singrauli, Madhya Pradesh. Earlier, Essar Power owned this plant. Adani Power bought it for ₹4,250 crore in March 2022. The Singrauli plant capacity will be raised from the existing 1200 MW to 2800 MW in the short term and to 4400 MW over the next decade. Adani is planning to invest ₹30,000 crore for this expansion. Reliance Industries has signed a twenty-year power purchase agreement, picking up a 26% stake in this plant’s 500 MW unit for captive use. Captive use means that Reliance will consume the electricity instead of selling it to the power grid or consumers. Adani aims to become the largest renewable energy producer in the world by 2030. Meanwhile, Reliance is readying four gigafactories at Jamnagar, Gujarat, one each for solar, green hydrogen, fuel cells, and batteries. Previous Next