Business News
Gujarat eyes $1 bn investment for pharma industry
Gujarat, which accounts for nearly a half of the Indian pharma industry’s turnover, is betting big on making the state a global hub as it eyes deals worth over $1 billion at the upcoming business conclave here next month.“Our government is proactive. We have…
India’s GSM phone subscribers grow 3.4 percent in November
India’s GSM phone subscriber base grew 3.4 percent in November with the addition of 17.5 million subscribers taking the total number of subscribers to 526 million, the Cellular Operators Association of India (COAI) said Thursday.Telecom giant Bharti Airtel added 3.1 million subscribers to have…
Ashok Leyland’s UAE joint venture plant goes on stream
Chennai-based commercial vehicle manufacturer Ashok Leyland Limited Thursday announced the commissioning of its Ras Al Khaimah plant set up in a joint venture with Ras Al Khaimah Investment Authority (RAKIA).The 2,000 units per annum plant is the first vehicle factory in the United Arab…
Yahoo to lay off five percent of workforce
Struggling internet portal Yahoo is to lay off up to five percent of its workers – or up to 700 employees – as it struggles to compete with the likes of Google and Facebook, sources at the company confirmed Tuesday.Most of the layoffs will…
China’s Huawei to invest $2 bn on Indian telecom lab, factory
On the eve of Chinese Premier Wen Jiabao’s visit to India, Shanghai-based telecom equipment manufacturer Huawei Tuesday announced an investment of $2 billion in a new research facility in Bangalore and its manufacturing unit in Chennai.The investment, which will be made over the next…
O-Zone to open 40,000 wireless internet zones
Leading wireless mobility solution provider O-Zone Networks Tuesday said it plans to open another 40,000 wireless internet zones in the country in the next two-and-a-half years.The company’s chief financial officer, Dharmendra Amin, said these Wi-Fi ‘Hotspots’ in malls, coffee shops and hotels, among other…
Infosys wins knowledge enterprise award
India’s second largest infotech company Infosys Technologies Monday said it had won the Most Admired Knowledge Enterprises (MAKE) awards in the global, Asian and Indian categories for 2010.“The MAKE selection panel recognised our company for creating a corporate knowledge-driven culture and a learning organization,…
Google to buy discount coupon website for $5.3 bn
Internet giant Google will buy a website that offers its users discount coupons at a staggering price of $5.3 billion, a media report said Wednesday.Andrew Mason will sell Google his Groupon website at $5.3billion (4.1 billion pounds).Mason, 29, set up the business two…
Sensex moves up in early trade
A benchmark index of Indian equities Thursday slipped a tad in morning trade after breaching the 20,000-mark soon after opening.The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,038.66 points, was ruling at 19,969.86 points, up 119.86 points or…
Tafe to invest Rs.1 bn to expand battery capacity
Tractor major and storage battery maker TAFE Ltd will invest Rs.1 billion (Rs.100 crore) for increasing the capacity of its valve regulated lead acid (VRLA) battery at its Maraimalainagar plant near here.TAFE Power Source (TPS), the company’s manufacturing division, Wednesday signed a technical collaboration…
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