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| Visitors Out: 9654 |
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| Air India reduces airfare to Gulf by 15 percent |
| 2008-07-18 22:16:00 |
Stiff competition from rivals and changing market dynamics have forced Indian national carrier Air India to reduce fares by 15 percent on flights to Gulf destinations."Our fares for the economy and business classes will be lower than any other domestic or foreign airlines operating between India and the Gulf," an Air India spokesperson told IANS Friday.Air traffic to West Asia constitutes nearly 40 percent of the Indian aviation industry's total international operations."We do not want to lose p...
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| Biocon to market new breast cancer drug in India |
| 2008-07-18 22:14:00 |
Biotechnology major Biocon Ltd will market Abraxane drug of the US-based Abraxis BioScience in India for treating Cancer">breast cancer, a top company official said here Friday.To be priced at about $400 (Rs.17,200) per 100mg vial in India, the drug will be cheaper by 60 percent than in the US where it is sold at $1,000 (Rs.43,000) per vial of same measure.Abraxane will be the second oncotherapeutics drug Biocon will be marketing after the launch of its proprietary antibody Biomab for the treatment of h...
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| Citigroup posts $2.5 bn quarterly loss on new write-downs |
| 2008-07-18 22:13:00 |
Citigroup announced here Friday a loss of $2.5 billion in the second quarter, its third consecutive quarterly loss but lower than the earlier figures.The loss was largely caused by $7.2 billion of write-downs of the global financial conglomerate's investments in mortgages and other loans and by a weakness in the consumer market, which cost Citigroup $4.4 billion in credit losses and $2.5 billion to increase reserves.The loss from April through June was less than expected by analysts, media repor...
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| London Stock Exchange 'market of choice' for Middle East companies |
| 2008-07-18 22:12:00 |
With Kuwaiti private equity fund Global MENA Financial Assets (GMFA) Friday becoming the latest Middle East company to get listed on the London Stock Exchange, this city is emerging as the market of choice for companies from the region, according to Tracey Pierce, LSE's head of equity primary markets.The fund's listing on the LSE's Main Market comes following an IPO to raise $500 million (about 252 million pounds or Rs.21 billion). The fund has been floated by Kuwaiti investment bank Global Inve...
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| US stocks end six-week losing streak despite gloomy predictions |
| 2008-07-18 22:10:00 |
US stocks defied a week of gloomy predictions and controversial financial decisions by US officials, bouncing back by Friday after a slump Monday and Tuesday.For Friday, better-than-estimated results from Citigroup Inc, JPMorgan Chase & Co and Wells Fargo & Co relieved worries that they would extend their yearlong slump, Bloomberg financial news reported.US banking giant Citigroup Inc reported a loss of $2.5 billion in the second quarter amid credit losses and write downs in the troubled financi...
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| Surge in cereal production to bring food market relief |
| 2008-07-18 22:09:00 |
An estimated 2.8 percent increase in world cereal production in 2008 over the last year should contribute to "some improvement" in the global supply and demand situation, a UN agency said Friday.A report by the Rome-based Food and Agriculture Organization (FAO) said that 2008 is set for a record cereal yield of 2.18 billion tonnes.Most of the increase is in wheat following significant expansion in plantings in all regions while coarse grains output is expected around the bumper level of last yea...
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| MTN drops talks with Reliance Communications |
| 2008-07-18 22:06:00 |
Plans by South African mobile giant MTN to expand into India have been scuppered for a second time after the company announced here Friday evening that its extended talks with Reliance Communications have been ended.In a short statement via the Johannesburg Securities Exchange (JSE), MTN said it had been mutually decided to allow the exclusivity agreement to lapse.Before it entered into a 45-day exclusivity discussion with Reliance, which was extended for a fortnight that would have ended this c...
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| FAQs on the G8 Summit |
| 2008-07-07 22:21:00 |
As Prime Minister Manmohan Singh travels to the Japanese island of Hokkaido to participate in the 9th G8 Summit as an outreach partner representing the world's emerging economies, IANS answers some frequently asked questions on the summit:Q: What is the G8 Summit?The Group of Eight (G8) Summit is an annual meeting attended by leaders of eight countries - Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States - and the president of the European Commission.Q: What...
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| Shaadi Karoge Inc. partnered with 3i Infotech Limited to provide online matrimonial services to urban and rural India |
| 2008-07-07 01:01:00 |
Shaadi Karoge Inc, a Delaware, USA corporation (a global online matrimonial service provider) announced a strategic alliance with 3i Infotech Limited to provide matrimonial service in various parts of India. 3i Infotech Limited, and Shaadi Karoge Inc. have signed an agreement that enables 3i Infotech to offer online matrimonial service (ShaadiKaroge.com) in the Indian market thru e-Disha CSC (Citizenship Service Centre) based in urban and rural areas of many states of India. This will give villa...
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| Hyundai Motors posts 45.3 percent growth in June |
| 2008-07-01 08:34:00 |
India's second-largest passenger car manufacturer Hyundai Motors India Ltd (HMIL) has sold 40,182 units during June this year -- up 45.3 percent over the corresponding period last year.Of the total sales, the domestic market accounted for 21,881 units, compared to 16,335 units for the same month last year. The exports totalled 18,301 units in June this year against 11,318 units of June last year.For the period Jan-June 2008, the company closed 234,145 units (domestic 136,194 units, exports 97,95...
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| OPEC crude price passes $136 mark |
| 2008-07-01 08:31:00 |
The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) continued to climb to a new record level above $136, figures released by OPEC Tuesday showed.One barrel (159 litres) of OPEC-produced crude stood at $136.03 Monday, $0.72 higher compared with $135.31 dollars the previous day.Oil production in OPEC countries rose to 32.57 barrels per day in June, Vienna-based analysts JBC estimated.This increase of 230,000 barrels from May was partly due to higher out...
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| ArcelorMittal to buy 60 percent stake in Dubai firm |
| 2008-07-01 08:21:00 |
L.N. Mittal-led ArcelorMittal, the world's largest steel maker, is expanding its presence in the Middle East by acquiring a 60 percent stake in a Dubai-based steel distributor.In a statement issued at its Luxembourg headquarters, ArcelorMittal said it intended to acquire 60 percent of the entire issued share capital of Dubai Steel Trading Co (DSTC) FZCO, a newly incorporated company located in the Dubai's Jebel Ali Free Zone."This is an important partnership that will spearhead our distribution ...
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| HCC Bags Rs.340 crore BOT Project of NHAI for Badarpur Elevated Highway |
| 2008-07-01 07:38:00 |
HCC, India's leading construction and infrastructure development Company, has bagged the prestigious order from National Highway Authority of India (NHAI) to construct the 4.4 km elevated highway at Badarpur on National Highway 2 (Mathura Road) near Delhi on BOT basis.The contract envisages design, construction, development, finance, operation and maintenance of 4.4 kms of six lane elevated road. The cost of the project is estimated at about Rs 340 crores. The company has received the letter of ...
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| Castrol to Become an Official Sponsor of FIFA World Cup |
| 2008-06-30 08:37:00 |
Castrol has strengthened its position in football by signing a prestigious six-year deal as a FIFA World Cup Sponsor until 2014.The agreement awards the global lubricants company worldwide rights for the 2010 FIFA World CupT in South Africa, the 2014 FIFA World CupT in Brazil and the two FIFA Confederations Cups which fall within the 2007-2014 period.The news comes following the company's successful sponsorship of the recent European championships - the UEFA EURO2008 - which saw Castrol develop ...
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| HP ProCurve Launches Gigabit Solution for SMBs |
| 2008-06-30 07:48:00 |
HP ProCurve Networking today launched two affordable Gigabit Ethernet switches for small and medium businesses (SMBs) that need increased network performance for large file transfers and high bandwidth applications such as graphical data, video streams, large databases, network backup and data storage. The standards-based ProCurve Switch 2510G Series comprises two fully-managed Layer 2 switches that offer Gigabit Ethernet connectivity.The new plug-and-play switches are easy to deploy, manage and...
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| Fidelity Announces New Business Initiative in India |
| 2008-06-30 07:41:00 |
Fidelity International today announced that it would launch its world-renowned, award winning, online fund platform, FundsNetworkT in India. FundsNetworkT will be an open architecture fund platform that will offer online a range of funds from a number of fund houses. It will help intermediaries to grow their business by allowing them to focus on customer acquisition, advice and relationship management without being concerned about back office and administration issues. India will be the 5th coun...
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| 123Greetings application now on Orkut |
| 2008-06-19 08:53:00 |
In a bid to add expression to emotions and make Social Networking Site 'Orkut' more expressive 123Greetings.com will now provide access to 20,000 free e-cards that are available for over 3,000 special occasions and events. 123greetings.com today announced the launch of a new application for Orkut.com where users will be able to see what cards other people in their network have sent, understand what cards are most popular and review the highest ranked cards by other Orkut users, in addition to se...
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| Warwick and CII forge cutting edge research link |
| 2008-06-18 22:15:00 |
Warwick Manufacturing Group (WMGG), an international research organisation, is to boost its links with the Confederation of Indian Industry (CII) in order to boost cutting edge research in climate change, high-tech manufacturing and global healthcare, WMG announced Wednesday.The two organisations will explore areas of cooperation and research collaboration in automotives, experiential engineering, robotics, healthcare, e-security, sustainable materials, hybrids, digital manufacturing, rapid manu...
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| Sical Logistics posts Rs.502 mn net profit |
| 2008-06-18 22:12:00 |
Integrated multi modal logistics company Sical Logistics Ltd has closed fiscal 2008 with a turnover of Rs.7.1 billion and a net profit of Rs.502 million as against Rs.10.5 billion turnover and Rs.426.3 million profit posted during fiscal 2007.While the net profit is up during the period under review as compared to FY07, the dip in the net sales is attributed to the demerger of non logistics business.According to company officials, the consolidated net sales of Sical's core logistics business was...
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| GMR awards toll project contract to Allied Digital |
| 2008-06-18 22:10:00 |
Allied Digital Services Ltd (ADSL), an IT infrastructure management services provider, has bagged a Rs.200 million contract for implementation of toll collection and traffic control solution from leading developer GMR Projects Pvt. Ltd.GMR has contract of developing four national highway awarded by the National Highway Authority of India (NHAI) that includes the Ambala-Chandigarh Expressway, Jadcherala Expressway, Pochampally Expressway and GMR Ulundurpet Expressway.ADSL will implement and manag...
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| Exide picks up controlling stake in Leadage Alloys India |
| 2008-06-18 22:08:00 |
Battery manufacturing major Exide Industries Ltd has acquired 51 percent stake in Leadage Alloys India Ltd, a lead smelting company near Bangalore, Karnataka, for Rs.340 million."Our own lead smelting units will not only give us better self-sufficiency in this critical raw material in the long run. It will also help us have better control over recycling of used batteries that we buy back from the market as part of regulatory framework for storage battery manufacture," T.V. Ramanathan, managing d...
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| MTNL gets international long distance licence, ISD rates may come down |
| 2008-06-18 22:07:00 |
State-run telecom company Mahanagar Telecom Nigam Ltd (MTNL) received the much-awaited international long distance (ILD) licence, a development that could further lower ISD rates in the country.The public sector company was issued the licence by the Department of Telecom (DoT) Wednesday.MTNL is currently routing its international call traffic through other ILD licence holders like VSNL.The company is gearing up to carry its own traffic in the near future and with this development MTNL's ISD carr...
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| UTV's 'The Happening' rakes in 61.5 mn in three days |
| 2008-06-18 22:01:00 |
UTV's foray into the mainstream Hollywood with "The Happening", has paid good dividends to the production house by raking in $31.5 million at the US box-office.Written and directed by M. Night Shyamalan, the sci-fi thriller that revolves around a family on the run from a natural crisis that presents a large-scale threat to humanity, was released June 13.Quoting the box-office collection figure from the Hollywood trade magazine "Variety", UTV stated that "The Happening", its first major collabora...
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| Air Canada axes 2,000 jobs, flights to cut costs |
| 2008-06-17 10:56:00 |
Air Canada Tuesday announced it would axe 2,000 jobs this year to meet the rising fuel costs.Canada's premier airline was also scaling back flights on some long-haul routes as well as autumn and winter services in North America.In a statement, Air Canada president and CEO Montie Brewer said: "The loss of jobs is painful in view of our employees' hard work in bringing the airline back to profitability over the past four years."I regret having to take these actions but they are necessary to remain...
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| Tech Mahindra Enters into Strategic Internet Protocol TV (IPTV) Global Alliance |
| 2008-06-17 04:42:00 |
Tech Mahindra, India's sixth largest software exporter and largest solution provider focused on global telecom industry, has entered into a strategic global alliance with Microsoft Corp. to address its System Integration (SI) requirements for deployments of the award-winning Microsoft Mediaroom Internet Protocol Television (IPTV) and multi-media software platform. Through the alliance, Tech Mahindra's solution will provide deployment and integration services for new and existing Microsoft Mediar...
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| Press Release about icontrol: The IPTV |
| 2008-06-15 00:38:00 |
Read my first post to know more about icontrol.Aksh Optifibre, a public listed company, the second largest company and a large-scale manufacturer of cable and optical fibre. It was incorporated in the year 1986 as a private limited company and was converted into a public limited company on 13th March 1994. Aksh has two plants at Bhiwadi, for manufacturing optical fibre cables and fibre, and another at Reengus, Rajasthan. Aksh has recently developed a new cost-effective concept called “Fibre-to...
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| MTNL and Aksh launch icontrol in Delhi and Mumbai; Know basics of icontrol |
| 2008-06-15 00:12:00 |
This morning when i picked up my Delhi Times, There was a fullpage advt talking about some "icontrol", which is a new IPTV service { i think so..} presented by MTNL and Aksh Optifibre. So, I thought, lemme use my Googling skills to find out more about this service as many of my fellow Netizens are trying to find the same. Google Trends tells me that that there is a sharp increase in the number of people searching about iControl on internet from the places like New Delhi.Ok. So Lets try to find o...
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| HTC P3350 in India now, Price: Rs 18490 |
| 2008-06-13 14:51:00 |
HTC has launched the P3350 phone in the Indian market. The latest HTC phone offers business features packed in a compact, slim shell. Besides, entertainment of the users is ensured through music capabilities.The HTC P3350 features in-built FM radio and is further capable of downloading music and audio-visual content. WLAN access for fast speed downloading is another key feature of the newly released phone.Apart from WLAN, the P3350 features other connectivity options such as quadband, GPRS, EDGE...
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| Ranbaxy-Daiichi marriage: Implications for Indian pharma |
| 2008-06-11 04:38:00 |
Japan's second-largest pharma company, Daiichi Sankyo will buy out the entire promoter stake of 35% in Ranbaxy Laboratories at Rs 737 per share. The deal amounts to about USD 2.7-3.7 billion. The Japanese company is eyeing 51% stake in Ranbaxy.What does this deal mean for both Ranbaxy and Daiichi?According to D S Brar, who actually steered the company for 20 years and made it into the first billion dollar company from the Indian pharma space, said, “It is probably great news for Ranbaxy share...
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| A Report on Gaming Industry in India |
| 2008-06-11 00:34:00 |
Video Games have been a popular pastime across the world since the 1970s. The popularity of video games has grown with the advancements in digital technology, mobile communications and the Internet in the 1990s. Gaming can be classified into PC gaming, Console gaming, Wireless gaming, Multiplayer gaming and Massive Multiplayer Online Role playing Games (MMORPG).In India, mobile gaming and console gaming are the most popular forms of games followed by PC gaming and MMORPG. The Indian gaming marke...
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| Trikona Capital Announces $150 Million Deal with SachsenFonds |
| 2008-06-06 05:50:00 |
Trikona Capital Ltd., the leading fund management firm for institutional investment in Indian real estate and infrastructure, announced it has extended its relationship with SachsenFonds Holdings GmbH, a German fund manager with $7.5 billion under management, in a $150 million deal that includes minority stakes of current Trikona assets and investments in new projects.Trikona's divestments earned a return on capital of 115%. Trikona laid the foundation for this partnership last December when it ...
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| Wipro's Customer Forum Goes Green |
| 2008-06-05 01:03:00 |
Wipro Technologies, the global IT services division of Wipro Limited (NYSE:WIT) hosted the first ever Carbon Neutral event by an Indian IT company at Florida recently. Wipro as a responsible and an ecologically conscious organization made Mandala 2008, an annual customer forum event, completely carbon neutral."Mandala, Wipro's customer forum, was the right platform for us to look at all aspects of an event through a green lens and embrace climate friendly alternatives wherever possible. Making t...
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| Who is the winner amongst BigFlix, Movie Mart and Seventymm? |
| 2008-06-04 22:19:00 |
Indian webspace is getting flooded with movie rental websites these days. With the entry of Reliance sponsored BigFlix in the market the competetion is going to be really tough for other two contenders. There are also rumors that R-ADAG is planning to buy out Banglore based Seventymm, which is the biggest movie rentals website in India.The Buzz due to the entry of BigFlix can be clearly seen. Alexa the web information website which provides the website statistics shows that nowadays Bigflix is g...
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| New Google Fevicon Released |
| 2008-06-03 22:21:00 |
This morning i started Firefox and saw a new Google favicon.A favicon is a small image that is generally used to reflect the identity of a web site. You can find it in the address bar, in your browser's tabs, in the list of bookmarks or in some feed readers like Bloglines.Google's favicon is hosted at google.com/favicon.ico and it's a 16x16 pixels image, a standard size for favicons. Google replaced the upper-case "G" in blue border, green and red borders with a lower-case purple "g" in a rounde...
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| Adobe Unveils Acrobat 9 Software |
| 2008-06-03 04:56:00 |
Adobe Systems Incorporated (Nasdaq:ADBE) today introduced Adobe® Acrobat® 9 software, a significant upgrade that will transform the process of creating and sharing electronic documents. Acrobat 9 delivers native support for Adobe Flash® technology, the ability to unify a wide range of content in rich PDF Portfolios, and access to real-time capabilities for co-navigating a PDF document with colleagues."The expectations organizations and individuals have for communicating and collaborating in t...
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| HP ProCurve Growth Accelerates at Nearly Four Times Industry Rate |
| 2008-06-02 02:47:00 |
HP ProCurve experienced year-over-year port growth for the first calendar quarter of 2008 at nearly four times the growth rate of the networking industry, according to data from a quarterly report by market research firm Dell'Oro Group.(1)According to the analyst firm's data, ProCurve, the world's second largest enterprise LAN networking vendor, grew worldwide port shipments by 28.4 percent in the first calendar quarter of 2008 compared to the same period in 2007. The industry growth rate for th...
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| Tripmela.com Launches SearchmelaTM Fare Comparison Engine |
| 2008-06-02 02:24:00 |
Tripmela.com, India's best source for online travel specials, announced the launch of SearchmelaTM, a megasearch engine, that allows consumers to search multiple websites from one web page. The Indian traveler no longer needs to visit multiple sites to find the best travel deal. Available at www.searchmela.com, SearchmelaTM provides consumers with the fastest, easiest way to compare airfares at their favorite sites.SearchmelaTM is not a Metasearch tool, which requires consumers to sift through a...
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