India's Infosys to buy 75% stake in Telstra unit for $153 million
Versent Group provides cloud services to Australian organisations in sectors such as finance, energy, utilities, government and education, Infosys said in a statement.
India's Infosys narrows annual forecast helped by banking and financial unit strength
The deal, which Infosys says will boost its local presence, is expected to close by the second half of fiscal 2026, subject to approvals from Foreign Investment Review Board of Australia and Australian Competition and Consumer Commission.
U.S.-listed shares of Infosys rose after the news and were last up 1.6% at $16.33.
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Express Tribune
20 minutes ago
- Express Tribune
Panic increase in Indian defence spending
Few events strip away the layers of rhetoric surrounding a nation's defence posture as decisively as an unplanned, high?cost emergency procurement. India's sudden sanction of INR 67,000 crore is one such moment, a figure that speaks more clearly than any official statement about the scale of recent military losses. This is not the steady funding of a long?term strategy but a rapid infusion of cash to plug critical gaps exposed during Pakistan's Operation Marka-e-Haq. For a country that has projected itself as a regional heavyweight in both capability and confidence, this hasty financial move signals something deeper: assets were hit, systems were compromised, and readiness was shaken. What makes this episode more telling is not just the money involved, but the urgency behind it — an urgency that betrays the quiet panic of an establishment trying to restore what was believed to be untouchable. One of the most glaring elements buried in this package is the so-called S-400 "maintenance" contract. Marketed as a routine service arrangement, it is in reality a repair-and-replacement operation for components damaged in recent engagements. The S-400, once paraded as the invincible crown jewel of India's air defence network, is being discreetly resuscitated under bureaucratic euphemisms. The language is telling — maintenance suggests upkeep of something in good working order; repair implies failure. And failure, in this case, came despite years of hype portraying the S-400 as a shield capable of neutralising any threat. Instead, Pakistan's evolving strike doctrine demonstrated that even the most advanced imported systems are not immune to targeted degradation, and that the promise of technological supremacy can collapse under the weight of real-world performance. The air mobility fleet tells an equally sobering story. The destruction of multiple C-17 Globemaster and C-130 Hercules aircraft in Fateh strikes on Indian bases was not just the loss of hardware; it was the crippling of logistical arteries vital for troop movement, resupply, and rapid response. These aircraft are central to India's ability to sustain operations in remote or contested sectors, and their sudden removal from service created an operational vacuum that no amount of rhetoric could disguise. Repairing or replacing them is not simply a matter of replenishing inventory — it is about restoring strategic reach. The fact that this too forms a significant portion of the emergency allocation underscores the degree of attrition suffered, even as official narratives sought to downplay the scope of the damage. Beyond the material losses, the very pattern of this procurement reflects a shift in the regional balance of military initiative. Operation Marka-e-Haq showcased a Pakistan that is no longer content to simply react, but is capable of launching well-calibrated, high-impact strikes deep into contested airspace. For years, Indian strategic thought rested on the assumption that its numerical and technological advantage would allow it to dictate the tempo of engagements. That assumption has now been challenged. The hurried nature of India's recovery measures suggests that its pre-conflict planning did not fully anticipate such vulnerabilities, and that restoring credibility will require more than just expensive hardware — it will demand a rethink of operational resilience, early-warning integration, and asset dispersal in the face of precision threats. In parallel, this turn of events reinforces a truth often ignored in the discourse on South Asian security — that military effectiveness is not solely the product of defence budgets or foreign acquisitions. Pakistan's operations reflected an intelligent blend of indigenous capabilities, actionable intelligence, and disciplined execution. The strikes were not acts of reckless escalation but carefully measured responses designed to achieve specific objectives without tipping the conflict into uncontrolled territory. This approach not only preserved escalation control but also demonstrated an ability to impose strategic costs on an opponent with a significantly larger military outlay. For India, the lesson is that high-end platforms alone cannot substitute for adaptability and tactical ingenuity; for Pakistan, it is a reaffirmation that precision and planning can level a seemingly uneven playing field. What emerges, therefore, is a clear contrast between perception and reality. India's leadership may frame this INR 67,000 crore approval as an investment in future strength, but the timing and composition of the package reveal it for what it is — a bill for past vulnerabilities exposed in a contest of skill, planning, and execution. For Pakistan, this is not a moment for triumphalism but for quiet confidence, knowing that its armed forces have demonstrated the ability to protect national interests against a better-funded adversary through professionalism and foresight. In a region where military postures often rely as much on image as on substance, Operation Marka-e-Haq has shifted the conversation: prestige weapons can falter, budgets can be stretched thin, and deterrence rests not on boasts, but on the proven capacity to act decisively when it matters most.
Business Recorder
6 hours ago
- Business Recorder
India wants US ties based on mutual respect, says its arms purchases are on course
NEW DELHI: India said on Thursday that it hoped relations with the United States would move forward based on mutual respect and shared interests, seeking to temper worries that ties were headed downhill in the aftermath of high tariffs imposed by Washington. A U.S. defence policy team will be in New Delhi this month for talks with Indian officials and its arms purchases from the U.S. are on course despite the strain in ties, the Indian foreign ministry said. A new friendship built between the two countries has hit a rough patch after President Donald Trump raised tariffs on Indian goods to 50% last week from an earlier 25% saying it was a penalty for India's continued imports of Russian oil. New Delhi has accused the U.S. of double standards in singling it out for Russian oil imports and called the tariffs unfair, unjustified and unreasonable. At the same time, it has also indicated that the warming of ties that began at the turn of the century covers a wide range of areas and should not be seen only through the prism of trade, although it hopes that trade talks will continue and result in a deal. Ties with Pakistan, India remain unchanged: US 'This partnership has weathered several transitions and challenges…and we hope that the relationship will continue to move forward based on mutual respect and shared interests,' Indian foreign ministry spokesperson Randhir Jaiswal told a regular media briefing. Purchases of military equipment from Washington were on course, Jaiswal said, adding that a U.S. defence policy team was expected in Delhi this month. Reuters reported last week that India has put on hold its plans to procure new U.S. weapons and aircraft and that a planned trip to Washington by the Indian defence minister had been cancelled. The Indian government subsequently said reports of a pause in the talks were wrong.
Business Recorder
6 hours ago
- Business Recorder
Publicis sues India antitrust body for denying case files in ad agencies probe
NEW DELHI: Publicis has sued India's antitrust watchdog for denying access to case files in a high-profile price-fixing investigation of ad agencies, after the French group failed to get the probe stalled until it could review the documents, court filings show. The Competition Commission of India (CCI) shook India's near-$30 billion media and entertainment sector in March with dawn raids at WPP's GroupM, Dentsu, Publicis, Omnicom and many other agencies over suspected collusion over publicity rates and discounts. Details of cartel cases are kept confidential in India, but Reuters has reported that the CCI's initial assessment found the firms used a WhatsApp group to coordinate and agree on pricing, entered into secret pacts, and colluded with broadcasters to deny business to agencies that didn't comply. Concerned the CCI has not responded to its requests in recent months to provide access to case files, Publicis approached the Delhi High Court on August 11 asking judges to order the watchdog to accede to its requests, according to its non-public filing reviewed by Reuters on Thursday. Publicis and its employees in India are 'unable to understand the allegations against them and prepare a defence in the absence of the case records', it said in the filing. India raids ad giants GroupM, Dentsu and broadcasters' body over price collusion, sources say The CCI did not respond to Reuters queries, and the court is likely to hear Publicis' case next week. The filing was made by TLG India, which its court papers said 'is the legal entity that houses majority of the advertising business of the Publicis group in India'. The antitrust investigation was triggered by Dentsu disclosing alleged industry malpractices to the CCI in February 2024 under the regulator's leniency program, which allows lesser penalties for firms that share evidence of malpractice. Publicis is the first company to file a lawsuit related to the high-profile CCI investigation in court. Filings showed the company urged the CCI in July that 'further investigation remain in abeyance till' it is granted inspection of case records. CCI investigations typically take several months. The regulator has powers to impose financial penalties on the media agencies of up to three times their profit or 10% of an Indian entity's global turnover, whichever is higher, for each year of wrongdoing. Publicis' court filing also showed the CCI in July asked for a brief note from the company about its business model, and how operations are coordinated with the parent entity. On August 4, the CCI issued summons to Publicis' South Asia chief Anupriya Acharya to appear before investigators, and provide documents such as copies of key contracts involving Publicis and its Indian entities, including on revenue sharing. Acharya did not respond to Reuters queries, and Publicis has asked the court to quash the summon.
