Category: Business

Will Blackberry continue in India?

India’s BlackBerry users are holding their breath as they wait to see if the government carries out a threat this week to ban encrypted messages sent on the phones due to fears of misuse by militants.
The government, worried that militants could use BlackBerry’s heavily encrypted services to plan attacks, warned earlier this month it would start blocking emails and instant messages sent on the smartphones unless the company comes up with a way for security agencies to decode the traffic by August 31.
There were indications late last week the deadline might be pushed back beyond Tuesday’s deadline as BlackBerry’s Canadian makers, Research in Motion (RIM), scrambled to satisfy the authorities.

Sanjivani Reducing Losses

While there is good news for the Sanjivani Sugar Factory (SSF) in Goa as it has reduced its losses, it is not yet time to cheer as the production has shown a declining trend.
In the last three years, SSF has successfully cut down its losses which were Rs. 760.77 lakhs in 2007-2008 to Rs. 24.10 lakhs in 2009-2010. This was possible primarily because of export of sugar and also because the factory sold “press mud” along with the molasses.

Support from US Companies for Indian Immigrants

In what came as a big support to immigration of Indians to the United States, a report prepared for US Chamber of Commerce (USCC) and the American Council of International Personnel (ACIP) as it pointed out that the biggest technology brands of the country like Google, Amazon, Apple, Cisco, Oracle, Microsoft and Qualcomm, have become what they are because of immigration.
The report particularly defended India and Indians as these words are mentioned in it 43 times as against the next highest China and Chinese which find only 9 references.

Polaris Software acquires minority stake in Tyfone

Polaris Software Lab rose 2.43% to Rs 176.70 at 14:00 IST on BSE after the company said its subsidiary Polaris Software Lab Ireland has invested $5,00,000 for a minority 2.5% stake in Tyfone Inc., US.
The company made this announcement during market hours today, 23 August 2010.
Meanwhile, the BSE Sensex was up 12.18 points or 0.07% at 18,414.

Cairn, ONGC on rise after striking oil KG Block

Cairn India rose 2.90% to Rs 353.30 at 9:08 IST after the company discovered oil and gas in an onshore block in the Krishna Godavari basin.
The announcement was made after market hours on Monday, 23 August 2010.
Meanwhile, the BSE Sensex was up 18.02 points, or 0.10%, to 18,427.37.
On BSE, 1.24 lakh shares were traded in the counter as against an average daily volume of 6.05 lakh shares in the past one quarter.

UK in dilemma over immigration cap on Indian professionals

Prime Minister David Cameron’s government is caught in a dilemma over imposing an immigration cap on professionals from India and other non-European Union countries with several British companies asking ministers to reconsider the issue. British companies rely on foreign professionals for many specialist jobs that are hard to find in Britain and the
European Union, particularly in the IT and finance sectors.

Cabinet to take call on AI wage cut soon

The Civil Aviation Ministry will soon seek the Cabinet’s approval for allowing the management of the beleaguered national carrier, Air India, to re-negotiate its different wage agreements with all trade unions. The phenomenal wage bill of the National Civil Aviation Company Ltd (Nacil) or Air India is at the crux of its turnaround plan.

Sensex records 30 month high

The Sensex continued to befuddle all by reversing higher mid-week to record a new 30-month high despite the continued onslaught of negative economic data from overseas. Foreign institutional investors are touted to be the perpetrators of this rally with their incessant purchases. But a look at other global markets that went up last week, perhaps again with FII support, throws up an interesting trend.

TRAI for ten-digit numbers landline

Get ready to remember 10-digit landline numbers as the Telecom Regulatory Authority of India (TRAI) on Friday recommended that the country migrate to an integrated numbering scheme for both fixed and mobile services by December 31, 2011. This suggestion comes in view of the numbering crunch that mobile operators are facing due to a massive expansion of subscribers every month.