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.
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.
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
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.
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.
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.
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.
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).