Business | Industry News

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  • Qualcomm Sold Stake to Tulip and Global Holdings

    On 30 July 2010 Qualcomm, US-based mobile chip maker sold 26 per cent stake in its Indian broadband unit to Tulip Telecom and Global Holdings for $57.72 million. Telecom networking firm Tulip Telecom and Global Holdings which is the owner of GTL Ltd and GTL Infra, bought 13 per cent each for a combined value of $57.72 million.

    Mar 15, 2011
  • New Gas Price Allotted

    The joint venture between Cairn India, ONGC, Videocon Industries and Ravva Oil would be allotted a new price of $4.2/mBtu for gas produced from its East Coast Ravva Fields as against $4.75/mBtu that the joint venture sought. Untill the notification of the new price the old one would continue to exist.

    Mar 15, 2011
  • India Ranked as Tier II Watch List country

    In the 2010 Trafficking in Persons Report (TIP) compiled by the United States State Department, India was ranked as “Tier II Watch List” country. India's ranking implies that India ranks among those countries whose governments do not fully comply with the Trafficking Victims Protection Act's (TVPA) minimum standards but are, however, making efforts to adhere to compliance norms

  • Mastek Technology Partner of Foresters

    A unit of IT solutions company Mastek was selected on 3 August 2010 to be a technology partner for life insurance provider Foresters. The purpose of the move is to leverage US-based MajescoMastek's insurance technology solutions in three major areas of business transformation namely- new business and underwriting, policy administration, and producer portal.

    Mar 15, 2011
  • BoR Asked to remove Deepak Saruparia

    Bank of Rajasthan on 11 June 2010 was asked by the RBI to sack deputy Managing Director Deepak Saruparia. He was charged with violation of norms in certain property transactions related to the bank.

  • Mahindra Satyam in an Agreement with Sybase Software

    Mahindra Satyam recently signed an agreement with Sybase Software (India) Private Ltd which is a subsidiary of the US-based enterprise and mobility software firm Sybase Inc. The objective of the agreement is to provide secured enterprise mobility solutions to customers across the globe.

    Mar 15, 2011
  • International Service Providers Can Monitor Services from Abroad

    The Department of Telecom (DoT) on 5 August 2010 agreed to allow foreign international long distance service providers including AT&T, BT and Orange Business Services to monitor their services in India from locations abroad. The operators would be enabled to transfer user information of their clients to locations outside India.

    Mar 15, 2011
  • Integrated Plant Inaugurated at Sreerampuram

    The Rs 300 crore integrated steel plant established by Steel Exchange India Ltd at Sreerampuram village, Kerela was inaugurated on 8 August 2010 by the Union Minister of State for Human Resource Development. Steel Exchange Group had acquired GSAL, a sick unit for Rs 150 crore and then invested another Rs 150 crore to set up an integrated steel plant.

    Mar 15, 2011
  • First Photovoltaic Laboratory in India

    TUV Rheinland a provider of technical, safety and certification services, on 4 August 2010 inaugurated its first photovoltaic laboratory in Bangalore. The lab was established with an investment of euro 2 million (Rs.12.20 crore).

    Mar 15, 2011
  • IBM in an Agreement with Jet Airways

    IBM announced on 21 Sept 2010 that it signed a 10-year business transformation and information technology (IT) services agreement with Jet Airways. The agreement valued

    Mar 15, 2011
  • Hyundai Motor India Tied Up with Vijaya Bank

    Hyundai Motor India, India's second largest car maker on 14 Sept 2010 announced its decision to tie-up with public sector lender Vijaya Bank to offer retail financing facilities to

    Mar 14, 2011
  • Cairn India Appointed Panel

    A leading player in the Indian oil and gas industry, Cairn India on 16 September 2010 formed a panel of two independent directors to ensure governance and protection of

    Mar 14, 2011
  • Air India to Float Fresh Tender

    National Carrier, Air India recently decided to float tender to raise $ 1.5 billion in order to refinance its aircraft finance loans. Only one level of security was proposed to be offered

    Mar 14, 2011
  • Wipro in Co-development Initiative with Oracle

    Wipro Technologies, the global IT services division of Wipro entered into a co-development initiative with Oracle on 10 Sept 2010 with an objective to develop a

    Mar 14, 2011
  • Pegasys Tied Up with Kovair Software

    Pegasys, a US based IT Services Company on 10 Sept 2010 announced that it tied up with another US IT company Kovair Software to provide Application Lifecycle Management

    Mar 14, 2011
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