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Saturday,23-October-2021

Business

Karthik Narain to lead $3 billion ‘Accenture Cloud First’ group

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Accenture

Global professional services company Accenture on Thursday announced the ‘Accenture Cloud First group with a $3 billion investment over three years to help clients accelerate their digital transformation.

Karthik Narain, who served as the lead for Accenture Technology in North America, will lead the new venture and join the Global Management Committee from October 1.

“Accenture Cloud First and our substantial investment demonstrate our commitment to delivering greater value to our clients when they need it most. Digital transformation requires cloud at scale, and post-Covid leadership requires that every business become a ‘cloud first’ business,” said Julie Sweet, CEO, Accenture.

An industry veteran based in Silicon Valley, Narain helped guide ‘Global 2000′ brands in using the power of the cloud and other technologies to transform their businesses.

Over his 20-year career, he has led many innovative technology programs for clients across a variety of industry sectors, including Software & Platforms, Financial Services and High Tech.

‘Accenture Cloud First’ is a new multi-service group of 70,000 Cloud professionals.

It will bring together the company’s industry and technology capabilities, ecosystem partnerships, and deep commitment to learning and upskilling clients’ employees and to responsible business, with the focus on enabling organisations to move to the cloud with greater speed and achieve greater value for all their stakeholders at this critical time, the company said in a statement.

The $3 billion investment, the company said, will be used to continue advancing industry roadmaps, data models and solutions; cloud AI data and AI architectures; integrated full-stack infrastructure and applications capabilities; cloud tools, assets and automation to drive lower unit cost and innovation; and research and development in edge computing and related cloud technologies.

With most businesses currently at only about 20 per cent in the Cloud, moving to 80 per cent or more rapidly and cost effectively is a massive change that requires a bold new model.

“Accenture Cloud First, along with our $3 billion investment and our market-leading Software as a Service capabilities in Intelligent Platform Services, ensures that we provide our clients with value, speed and innovation in every part of their Cloud journey,” said Paul Daugherty, group chief executive, Accenture Technology.

With nearly $11 billion in Cloud revenue in its fiscal year 2019, Accenture said its leadership spans from Software as a Service (SaaS) to its migration, infrastructure and application cloud services.

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Business

No increase in fuel prices for 2nd consecutive day on Tuesday

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Petrol

 Petrol and diesel prices remained unchanged for the second consecutive on Tuesday providing relief to consumers who have been facing a regular increase in fuel prices in the past few months taking the retail rates to historic high levels.

With no revision, the price of petrol in Delhi remained Rs 105.84 a litre and Rs 111.77 per litre in Mumbai, according to a price notification of state-owned fuel retailers. In Mumbai, diesel rates also remained static at Rs 102.52 a litre; while in Delhi it costs Rs 94.57, the same as on Sunday.

The price pause comes after the rates rose for four straight days when the rates of both petrol and diesel rose by Rs 1.40 paise per litre. There was no change in the rates also on October 12 and 13.

Diesel prices have increased on 19 out of the last 25 days taking up its retail price by Rs 5.95 per litre in Delhi.

With diesel prices rising sharply, the fuel is now available at over Rs 100 a litre in several parts of the country. This dubious distinction was earlier available to petrol that had crossed Rs 100 a litre-mark across the country a few months earlier.

Petrol prices had maintained stability since September 5, but oil companies finally raised the pump prices last week. Petrol prices have also risen on 16 of the previous 21 days taking up the pump price by Rs 4.65 per litre.

Crude prices have been on a surge rising over a three-year high level of over $ 85.7 a barrel now. It has softened a bit, falling below $ 85 a barrel now. Since September 5, when both petrol and diesel prices were revised, the price of petrol and diesel in the international market is higher by around $9-10 per barrel as compared to the average prices during August.

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Business

Markets open on a positive note

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Bombay-Stock-Exchange

 The 30-scrip Sensitive Index (Sensex) on Tuesday opened on a positive note during the morning trade.

The Sensex of the BSE opened at 62,156.48 points and touched a high of 62,159.29 points. The Sensex touched a low of 61,964.41 points.

On Monday, the Sensex closed at 61,765.59 points.

The Sensex is trading at 62,061.59 points, up by 296.00 points or 0.48 per cent.

On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) opened at lower note at 18,602.35 points after closing at 18,477.05 points.

The Nifty is trading at 18,549.55 points in the morning.

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Business

Petrol, diesel prices rise again, burn bigger holes in consumers’ pockets

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Petrol

 Petrol and diesel price rose again on Friday taking its retail rates to record high levels across the country affecting consumers this festive season.

Accordingly, in the national capital, petrol and diesel prices increased by 35 paisa per litre to Rs 105.14 per litre and Rs 93.87 per litre, respectively.

In India’s financial capital of Mumbai, petrol became costlier by 34 paisa per litre to Rs 111.09 a litre on Friday, the highest across all the four metro cities. Diesel also costs Rs 101.77 for one litre in Mumbai.

The price hike on Friday is for a second consecutive day after the rates remained static on Tuesday and Wednesday.

Diesel prices now have increased on 17 out of the last 21 days taking up its retail price by Rs 5.25 per litre in Delhi.

With diesel price rising sharply, the fuel is now available at over Rs 100 a litre in several parts of the country. This dubious distinction was earlier available to petrol that had crossed Rs 100 a litre mark across the country a few months earlier.

Petrol prices had maintained stability since September 5 but oil companies finally raised its pump prices last week and this week given a spurt in the product prices lately. Petrol prices have also risen on 14 of the previous 17 days taking up its pump price by Rs 3.95 per litre.

OMCs had preferred to maintain their watch prices on global oil situation before making any revision in prices. This is the reason why petrol prices were not revised for last three weeks. But extreme volatility in global oil price movement has now pushed OMCs to effect the increase.

Crude price has been on a surge rising over three year high level of over $84.5 a barrel now. Since September 5 when both petrol and diesel prices were revised, the price of petrol and diesel in the international market is higher by around $9-10 per barrel as compared to average prices during August.

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