Government to take control of Maytas Properties

by

The government has moved the Company Law Board (CLB) seeking supercession of the boards of Maytas Infra and Maytas Properties, firms controlled by the kin of Satyam founder B Ramalinga Raju. To ensure properly functioning of the two firms, the government has sought the CLB’s approval to nominate government directors on both companies’ boards.The move … Read more Government to take control of Maytas Properties

Indian Rupee to depreciate against USD and hit 54 – HSBC

by

The rupee has been remarkably stable in recent weeks, certainly compared to many other Asian currencies. HSBC Analysts don’t expect this stability to last. Much of the rupee’s weakness last year appears to have been driven by a significant outflow of equity capital (USD9.26bn during January-September 20008). We suspect there is more outflow to come … Read more Indian Rupee to depreciate against USD and hit 54 – HSBC

Nimbuzz Signs Pact with Toshiba

by

Nimbuzz today announced a collaboration with electronics giant Toshiba to develop optimized versions of the multi-award winning Nimbuzz Social Messaging application for its mobile communications division. The agreement will bring instant messaging and social networking capabilities to Toshiba’s new high quality, high performance TG01 Handset. Bertand Issard, Head of Product Planning & Strategy of Toshiba … Read more Nimbuzz Signs Pact with Toshiba

Infosys sets up foundation to promote science research

by

India’s second largest software exporter – Infosys Technologies – has set up a not-for-profit trust christened Infosys Science Foundation to promote research in sciences in India. Under this initiative, Infosys will honour outstanding contributions and achievements made by Indians across various fields in science. The annual award for each category comes to the tune of … Read more Infosys sets up foundation to promote science research

Government scales down revenue estimates from 3G auction

by

The government has lowered the expectations from the third generation (3G) spectrum auction to Rs 20,000 crore from Rs 40,000 expected earlier. The reason is the ongoing economic slowdown, which may not allow companies to bid as aggressively as was supposed earlier. Economic affairs secretary Ashok Chawla said on Monday during the post budget briefing … Read more Government scales down revenue estimates from 3G auction