A look at the headlines in the sector right now:

  1. Wipro's Azim Premji and HCL's Shiv Nadar only Indians in Forbes list of 100 richest tech moguls: While Microsoft chief Bill Gates has topped the list, Jeff Bezos of Amazon is the second richest person in the industry.
  2. Flipkart shares get 10% markup by US mutual fund: With this, the company is now valued at around $11.55 billion, higher than its earlier $10.5 billion.
  3. Cabinet relaxes FDI norms for non-banking financial companies: The changes allow the inflow of foreign funds through the automatic route for financial services that are monitored by regulators such as the RBI and SEBI.
  4. Google Chrome to start blocking Flash from next month, kill the buggy software fully by December: The popular web browser, in a blog post, said the move will help users see ‘an improvement in responsiveness and efficiency for many sites’.
  5. Gold demand slumps 18% in India in the second quarter of the fiscal: High prices, the jewellers' strike and various regulatory moves by the Centre are believed to be responsible for the drop.
  6. RBI is set to transfer its surplus profit of Rs 65,876 crore to the central government: The amount is marginally lower than what the bank gave the Centre last year
  7. Ikea Group will open 25 stores in India in the next 10 years: The Swedish home furnishings company has decided to double its sourcing from the country to 600 million euros by 2020.