Crude oil

Crude oil is once again trading above the $50 mark as it puts in fresh highs at $50.43 in eletronic trade; now higher by $1.59 to $50.40

Tata drags Reliance Power to court

Tata Power Company (TPC) has dragged Anil Ambani-led Reliance Power to the Delhi High Court challenging the government`s judgment to allow RPower to divert coal from the captive mines of Sasan Ultra Mega Power Project (UMPP) for use in other projects,

BHEL, KPTC likely to form JV for thermal power project

Bharat Heavy Electricals (BHEL) and Karnataka Power Transmission Corporation (KPTC) will come together to form a joint venture (JV) company for creating a supercritical thermal power project in Raichur district

Aurobindo Pharma gets approval for epilepsy drug

Drug maker Aurobindo Pharma announced that it had received the approval for its abbreviated new drug submission, Gabapentine Capsules from Health Canada.

Punj Lloyd bags contract worth Rs 2.64 bn

Punj Lloyd group, the diversified engineering, procurement and construction (EPC) conglomerate, on Jan. 6, 2009 announced winning the contract to build Sikkim`s first greenfield airport in Pakyong.

Logitech to axe 15% salaried staff

It is learnt that Logitech International is cutting its salaried work force by 15% as a reaction to frail consumer demand which is accompanied with economic downturn

Logitech, which also has offices in Fremont, has about 3,500 salaried employees in a total work force of about 9,000.

L&T`s arm bags Rs 11 bn order

L&T`s building and factories operating company, part of its construction division, has bagged add-on orders aggregating to around Rs 11 billion in the third quarter of 2008-09 from its ongoing development projects like mixed use developments at Chandigarh, Darley Road Tower in Sri Lanka, Airport Hotel at Bangalore and add on works at its airport projects.

Maytas Infra bags Rs 1.10 bn projects from Southern Railways

Maytas Infra, a leading construction and infrastructure development company announced that Southern Railway has entrusted the company with a project of Rs 1.10 billion for doubling the BG (broad gauge) track between Chengalpattu to Villupuram.

Infotech Enterprises sets up a wholly owned subsidiary

Infotech Enterprises announced that it has acquired a 100% stake (amounting to 781,582 equity shares) in Kalyani Net Ventures, Pune

MICROSOFT LAYOFF

microsoft announced to layoff 15000 jobs ,3000 in uk,12000 in overseas exclude USA

Porsche acquires Volkswagen;buys over 50% shares

Porsche, the German luxury sports car maker has taken over Volkswagen (VW), the biggest European car maker, by purchasing more than 50% of its shares.

Airtel rolls out new BlackBerry

Airtel and Research In Motion (RIM) announced the launch of the BlackBerry Pearl Flip 8220 Smartphone in India.

It will be priced at Rs 21,990. The Smartphone is now available at Airtel authorized channels nationally.

Span Diagnostics bags Rs 73.5 mn order from WHO

pan Diagnostics has bagged Rs 73.5 million order from World Health Organisation (WHO) for supplying malaria (rapid) test kits.

HUL transfers licence of Lakme, Lever Ayush to subsidiary

Hindustan Unilever (HUL), a fast moving consumer goods company in India announced that it had decided to license its brands, `Lakme` and `Lever Ayush` to it`s subsidiary, Lakme Lever, for the beauty and wellness services business. The board of directors of the company has accorded their consent in the aforesaid matter.