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The Tatas beat Brazil’s CSN to acquire Anglo-Dutch steelmaker Corus Group Plc at slightly more than $11 billion.
With a bid of 608 pence a share, Indian corporate giant Tata Steel outsmarted CSN’s 603 pence a share offer during the night-long auction process.
CSN officials confirmed pulling out of the race to acquire Europe’s second-largest steel firm after a final offer of 603 pence a share. Tata officials remained tightlipped.
Tata Steel raised its final offer to 608 pence a share by the time the auction entered the concluding ninth round from 500 pence a share at the start of the auction.
The company also stated that it will shortly seek approval of its revised offer from the Board of Corus Group Plc and the $11.3 billion transaction is likely to be finished by the mid-March this year.
Read More @ NDTV
Bharat Sanchar Nigam Limited has plans to connect 80,000 villages with wireless broadband.
Rajesh Kumar, joint DDG, strategic planning, BSNL informed that the project would be undertaken in phases. The organization has formed a cluster of 1,000 block headquarters, scattered across India, for the first phase. These blocks will cover around 10,000 villages. WiMax installation will provide broadband access to customers within a radius of 25 kilometers.
USO will float tender for this project next month. “We have the infrastructure ready, we will invite bids to procure equipment,” said Kumar. BSNL has a budget of Rs 150 crore for equipment procurement, he added. First phase of the project will be completed in the next two years.
Read More @ Cxotoday
Finally! A mobile that’s made in India.
Bangalore-based Digibee Microsystems (Digibee) is all set to take this pioneering step in the next few weeks.
Announcing the investment of $8.5 million (about Rs 38 crore) by Clearstone Venture Partners and SIDBI in the firm, Mr Vijay Balakrishnan, Vice-President of Marketing, Digibee, said the amount would be used to fund the company’s first phase of operations.
It will tie up with the top five mobile operators in the country, who have between them around 115 million subscribers, and begin the process of rolling out handsets. The investment will be utilized to obtain licences, IPRs (intellectual property rights) and in strategic deals with the component manufacturing vendors.…
Read More @ The Hindu BusinesslineÂ
US President George W Bush’s reported comments on the US looking at the possibility of increasing the number of HI-B visas — granted to Indian professionals to work in the US — has received an enthusiastic response from Nasscom.
The Nasscom President, Mr Kiran Karnik, told Business Line, ” We welcome such an initiative. This step would be mutually beneficial to both the countries.” He said that last year the senate immigration Bill that dealt with the issue could not be converted into legislation due to problems of illegal immigrants.
Read More @ The Hindu Business Line January 27, 2007
Shedding its image of a brick-and-mortar organisation, the Life Insurance Corporation of India (LIC) is all set venture into the digital era.
The corporation is close to signing a Rs 1100 crore Electronic Data Management System (EDMS) contract with a consortium-led by global IT major Hewlett-Packard (HP) that will transfer it to the paperless world by 2010.
HP will lead a consortium of IT firms, including Mumbai-based Vakrangee Softwares for three-and-a-half year that would entail digitalization of its 20 crore policies. The global IT major would also have to rollout LIC’s EDMS initiative and computerize all its 2,048 branches.
The technical and commercial evaluation process has been completed, and a formal announcement would be made sometime later sources close to development said.
IT majors Wipro, Electronic Corporation of India Ltd (ECIL), Tata Consultancy Services (TCS) and hardware major CMS Computers were the other bidders for the project.
Read More @ Business Standard (26 Jan ’07)
Shankar Mahadevan sets your pulse racing with his India Poised anthem. Lyrics by Gulzar and set to music by India ‘s hottest musical team of Ehsaan and Loy.
Source :- India Poised
1. There is one word in the English language that is alway pronounced incorrectly. What is it?
2. A man gave one son 10 cents and another son was given 15 cents. What time is it?
3. A boat has a ladder that has six rungs, each rung is one foot apart.The tide rises at 12 inches every 15 minutes.High tide peaks in one hour. When the tide is at it’s highest,
how many rungs are under water?
4. There is a house with four walls. Each wall faces south.There is a window in each wall. A bear walks by one of the windows. What color is the bear?
5. Is half of two plus two equal to two or three?
6. There is a room. The shutters are blowing in. There is broken glass on the floor.There is water on the floor.You find Sloppy dead on the floor. Who is Sloppy? How did Sloppy die?
7. How much dirt would be in a hole 6 feet deep and 6 feet wide that has been dug with a square edged shovel?
8. If I were in Hawaii and dropped a bowling ball in a bucket of water which is 45 degrees F, and dropped another ball of the same weight, mass, and size in a bucket at 30 degrees F, both of them at the same time, which ball would hit the bottom of the bucket first?
Same question, but the location is in Canada?
9. What is th e significance of the following: The year is 1978, thirty-four minutes past noon on May 6th.
10. If a farmer has 5 haystacks in one field and 4 haystacks in the other field, how many haystacks would he have if he combined them all in the center field?
11. What is it that goes up and goes down but does not move?
The Government has banned foreign satellite channel ‘AXN‘ with immediate effect till March 15 for showing “indecent content“.
“It has been decided to prohibit transmission or re-transmission of the channel up to March 15, with immediate effect,” Information and Broadcasting Minister P R Dasmunsi told reporters here.
The channel got into the wrong books of the ministry for telecasting a programme titled ‘World’s Sexiest Advertisements‘.
“The programme is against good taste or decency and is likely to adversely affect public morality,” the minister said.
The minister said the programme was “against public morality” and added action was being taken under the provisions of the Cable TV Networks (Regulation) Act, 1995.
Dasmunsi said the ban would be applicable across content delivery platforms like cable, DTH or CAS.
“What they have telecast is condemnable and deserves action,” he said.
Ack :- Â MSN India
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