Idea Cellular - Providence Invests USD 640 million in Aditya Birla Telecom
dea Cellular Ltd has announced that the Board of Directors of the Company, on May 22, 2008, has taken note of the proposed issuance by Aditya Birla Telecom Ltd (”ABTL”) (a wholly owned subsidiary of Idea Cellular Ltd) of compulsorily convertible preference shares for an aggregate sum of USD 640 million, to be converted into 20% of equity share capital of ABTL post dilution, Continue reading this post…

Dhanus Technologies launching V-tel Mobile Service

Dhanus Technologies Ltd has announced that the Company is launching a new service branded “V-tel Mobile Service”. V-tel mobile service is aimed at Indians traveling abroad and can be used in 229 countries in the world. V-tel mobile offers free incoming calls in over 50 countries and charges discounted rates for home country calls as well as for calls made within the respective country during travel. Continue reading this post…

BSEL Infrastructure signs MOU with IRDA, Malaysia

BSEL Infrastructure Realty Ltd has announced that the Company has signed an MOU with Federal Government’s Statutory body Iskandar Regional Development Authority (IRDA) wherein BSEL has committed to make investment in Iskandar Malaysia to the tune of RM 15,000,000,000 (Malaysian Ringgit Fifteen Billion) (equivalent to Rupees 18000 Crores) over a period of twelve years. Continue reading this post…

Subex unveils groundbreaking new OSS and BSS solutions at Management World Nice
Subex Limited, a leading global provider of Operations and Business Support Systems (OSS/BSS) for communications service providers, is unveiling a new version of its industry-leading Revenue Operations Center (ROC) and is launching new products in its Revenue Maximization and Fulfillment and Assurance business lines. The solutions are debuting at the TeleManagement Forum’s Management World 2008, Continue reading this post…

US foreclosure filings surge 65 percent in April
In April 2008 more U.S. homeowners fell behind on mortgage payments, driving the number of homes facing foreclosure up 65 percent versus the same month last year and contributing to a deepening slide in home values.
One in every 519 U.S. households received a foreclosure filing in April. Foreclosure filings increased from a year earlier in all but eight states
Continue reading this post…

India’s Power Finance signs MoU with Ex-Im Bank of U.S.
Power Finance Corp Ltd. (PFC) announced that it has signed a MoU with Ex-Im Bank of the United States so that PFC’s borrowers can use Ex-Im bank’s facility for project-related imports from the U.S. during the next two years.

PFC, which is biggest Indian power finance company and finances power projects in India, said in a regulatory filing that Ex-Im Bank has Continue reading this post…

GSK Pharma signs Co-production agreement with Daiichi Sankyo for anti-hypertensive drug
GlaxoSmithKline Pharmaceuticals announced that it had signed a co-production agreement with Japanese drug maker Daiichi Sankyo for anti-hypertensive drug Olmesartan Medoxomil and its combination products.
GlaxoSmithKline Consumer Healthcare`s (GLAXOCON) principal activities include manufacture and distribution of a wide range of healthcare foods, drugs, pharmaceuticals and dairy products. Continue reading this post…

Tanu Healthcare under Contract Farming for Medicinal Plants with Socrus Bio Sciences Group
Tanu Healthcare has entered into Contract Farming aggrament for Medicinal Plants with Socrus Bio Sciences Group. Under the contract farming arrangements with Socrus, the company is going to have access to 200 acres of land in which currently farming of medicinal plantation is taking place. Continue reading this post…

MIC Electronics Board to consider Sub-division of equity share
MIC Electronics Ltd has announced that a meeting of the Board of Directors of the Company will be held on May 19, 2008, to consider and to decide the sub-division of face value of an equity share of Rs 10/- each of the Company into 5 equity shares of Rs 2/- each Continue reading this post…

HP agreed to buy EDS for USD 13.90 billion

Hawlett Packard, has agreed to buy EDS for USD 13.90 billion or at $25 per share. The world’s largest personal-computer maker will buy technology outsourcing company Electronic Data Systems in all cash deal. On this news EDS stock was up 28% yesterday

HP said the transaction will be accretive to ‘09-’10 non-GAAP earnings. This deal will be completed in the H2 FY09. The transaction will more than double HP’s revenues from services. EDS will continue to be led by RA Rittenmeyer. Continue reading this post…