NEW DELHI: The auctions for 3G spectrum, vital for next-generation telecom services such as video-calling and broadband Internet on mobile phones, are set to be delayed beyond the scheduled date of January 16 and may take place in February, according to a top official in the communications ministry.“The auctions have been delayed as the Cabinet is yet to approve some of the key proposals regarding the auctions,” the official, who asked not to be...
BANGALORE: Satyam Computer Services said it has asked the World Bank to withdraw "inappropriate" statements about the Indian outsourcer and to issue an apology for harm done to the company.The World Bank said Satyam had been declared ineligible for direct contracts with the bank for eight years, effective from last September.New York-listed Satyam said it had asked the World Bank to issue a new statement apologising to Satyam and provide it with...
BANGALORE: Over 50,000 IT professionals in the country may lose their jobs over the next six months as the situation in the sector is expected to worsen due to the impact of global economic meltdown on the export-driven industry, a forecast by a union of IT Enabled Services warned."...there would be 50,000 job losses (IT and BPO put together) over the next six months," Karthik Shekhar, general secretary of UNITES India, a politically neutral union...
BIG Cinemas, the exhibition arm of Reliance BIG Entertainment Ltd (RBEL), will screen Ghajini with English sub-titles in select cinema halls here from next Friday for the hearing impaired and for those who don't understand Hindi.Hot: Do not miss our Ghajini special"We have decided to do this especially for the benefit of the hearing impaired and those who don't understand Hindi. The idea is to ensure that the movie is viewed by maximum number of...
Director: A R MurgadossCast: Aamir Khan, Asin, Jiah KhanRating: **Aamir Khan suffers from short-term memory loss in Ghajini, a cerebral disorder by which his memory lasts only for 15 minutes. Seemingly director A R Murgadoss suffered from the same while deriving from Memento, for he seems to have retained only about 15% of the original masterpiece and fabricated the rest as per his formulaic sensibilities.So while you still have the Polaroid camera,...
New Delhi, Dec. 25: Eyewitnesses in Barmer, Jodhpur and Jaisalmer in Rajasthan and in Ferozepur in Punjab are reporting intensified military movement on both sides of the international border with Pakistan. But sources in Indian Army headquarters in New Delhi are insisting that there is no order for a mobilisation of forces. “Whatever movement is being reported is normal...
ISLAMABAD: Pakistan’s civilian leadership on Sunday reiterated its desire for friendly relations with India and said it would not allow the country to be used for terrorist activities. It also kept up assertions that it was prepared to respond to any military strikes by India.Prime Minister Yusuf Raza Gilani said Pakistan “wants good relations with all its neighbours, including India and Afghanistan, and will never allow its soil to be used against...
APPLE HAS launched a new range of iPods in India to celebrate the on-going festive season. The new collection of Apple varies from 1GB iPod Shuffle to 32GB iPod Touch. While 1GB iPod would cost Rs 2,300, the 32GB iPod Touch would cost Rs 21,100.Those, who love colourful models will now have a wide arena to choose their iPod Nano from, as it will be available in eight different colours, including silver, purple, blue, green, orange, yellow, pink and...
NEW DELHI: To check misuse of mobile phones by terrorists and other anti-national elements, the Centre has decided to rein in mobile operators not taking the verification process of SIM (subscriber identity module) cards seriously and indulging in unhealthy competition to boost sales. After reports that the terrorists involved in the Mumbai terror attacks had procured as many as five SIM cards and earlier incidents also indicating misuse of mobile...
New delhi, (PTI): Economic downturn seems to have impacted India's personal computer shipments too, which reached just 2.26 million units in the third quarter (July-Spetmeber), a marginal growth of 1.7 per cent over the same period a year ago. Industry tracking firm IDC today said the desktop PC shipments fell 8.9 per cent (1,563 units against 1,717 in the Q3 of last fiscal), while notebook PC shipments grew 37.8 per cent (705 units against 512...
BANGALORE: Even as Satyam Computer Services asked the World Bank to withdraw "inappropriate" statements about the company and to issue an apology for harm done to the company, the World Bank has reportedly clarified that it stood by its statement issued earlier this week."The Bank stands by the statement issued on its India website on 23rd December," Reuters quoted Carl Hanlon, a World Bank spokesman in Washington, as saying.The World Bank’s India...
Exactly one month after the 26/11 Mumbai terror attacks, India has stepped up its diplomatic efforts to mount pressure on Pakistan to take action against terrorists on its soil.Government sources have told NDTV that External Affairs Minister Pranab Mukherjee has had a 30 minute long talk with his Chinese counterpart Yang Jeichi and asked China to step up pressure on Pakistan to dismantle the terror infrastructure in the country. He reportedly told...
Addressing security concerns, the centre has notified the customs department to only allow imports of mobile handsets after the declaration of the 'international mobile equipment identity' (IMEI) numbers of each handset.Separately has the department of telecommunications has also directed all the cellular mobile service providers to make the provision of authentications on mobile handsets with IMEI number for GSM networks and the 'electronic serial...
MUMBAI: Satyam Computer shares plunged as much as 18.3 per cent to a five-year low of Rs 114.65 after it was barred from business with the World Bank for eight years, dealing another setback for the No 4 Indian outsourcer following a botched move into the construction industry. However by close, the stock, which had fallen 13.6 per cent on Tuesday, clawed back to limit losses to 3.9 per cent at Rs 134.95 as some investors termed the loss “excessive”...
MUMBAI: Shareholders of Satyam Computers can take legal action against the company even after Satyam backtracks from its plans to acquire MaytasProperties and Maytas Infrastructures, according to legal experts.Anoop Narayanan, partner of Majmudar & Co, feels that the Satyam shareholders ‘paid a price’ for the board decision and this provides them sufficient ground for initiating legal action.“The unfavourable impact of the called-off deal and...
NEW DELHI: The failed move to buy Maytas Infra through Satyam has cost the Rajus dearly. As per an analysis by ETIG, the Raju family (B RamlingaRaju, chairman, Satyam Computers, Rama Raju Jr, promoter of Maytas Properties and B Teja Raju, vice-chairman, Maytas Infra) lost nearly Rs 597 crore in a day due to a fall in the stock value of Maytas and Satyam on the Bombay Stock Exchange (BSE). While the Rajus lost nearly Rs 397 crore of their shareholder...
NEW DELHI: The government is understood to have ordered a probe into Satyam Computers' controversial decision to buy two group-promoted companiesSatyamB Ramalinga RajuAll about Satyam-Maytas deal |Deal dropped due to investors reactionand then reversing the deal within a few hours under pressure from investors. ( Watch )According to official sources, the government will examine if the company had any malafide intention to influence the stock market.Satyam...
HYDERABAD/MUMBAI: Satyam Computer on Thursday attempted to reassure angry investors and jittery employees. While the markets were told that the company board would consider a share buyback, the staff were reassured of its commitment to the IT services business.The move comes a day after it called off a controversial $1.6-billion deal to buy two firms, Maytas Properties and Maytas Infrastructure, run by the sons of Satyam founder-chairman B Ramalinga...
HYDERABAD: Upaid Systems, a UK-based mobile payment services provider, on Thursday said it is asking a US court to seek a testimony from topSatyam officials in connection with the Indian company’s abortive attempt to buy two firms linked to its founder.Upaid said it is making the move because of the possibility of Satyam depleting its assets by acquiring the firms for $1.6 billion ahead of a judgment in a legal battle it is fighting against the Indian...
HYDERABAD: Satyam’s move to acquire Maytas has now been stymied thanks to shareholder activism, but has put the spotlight on the board ofdirectors of the $2 billion plus company. The board approved the deal “unanimously’ ’ against which the shareholders virtually revolted and Satyam chairman B Ramalinga Raju had touted this clearance as the basis to go ahead with the deal.According to TOI’s investigations , seven of the nine members of Satyam’s board...
BANGALORE: Shares in Satyam Computer Services pulled back from steep losses on Wednesday on market talk the outsourcer may see a takeover bidafter its valuation plummeted on corporate governance concerns.Satyam's shares have plunged 40 percent since the firm said last week it would pay $1.6 billion for two infrastructure firms in which its management held stakes and after it emerged it had been barred from business with the World Bank for eight years.The...
HYDERABAD: The World Bank on Wednesday said Satyam Computer Services was debarred from getting direct contracts from it under its corporateprocurement programme for eight years from September this year.But it clarified there was no evidence of Satyam being involved in malacious attacks on the bank's information system. The company was declared ineliglible for contracts for providing improper benefits to bank staff and for failing to maintain documentation...
NEW DELHI: The Satyam-Maytas fiasco has drawn the attention of Government towards the role of independent directors, especially when the newCompanies Bill provides for 33 per cent of such directors in boards of companies."In the longer run, it needs to be seen what is the problem with the role taken by independent directors," official sources said.The Satyam deal certainly raises the question whether the independent directors of the company failed...
MUMBAI: Ramalinga Raju’s problems just don’t seem to end. After the unprecedented furore over Satyam Computers’ aborted plan to buy into MaytasSatyamB Ramalinga RajuAll about Satyam-Maytas deal |Deal dropped due to investors reactionInfrastructure and Maytas Properties — controlled by the Raju family — for a whopping $1.6 billion, the UK-based Upaid Systems has alleged that Satyam’s buyback proposal is yet another ploy to divert resources out of...
As the tumultuous 2008 comes to an end, here is a snapshot of the top 5 and bottom 5 performing stocks for the last 12 months.Hindustan Unilever Ltd. 1-year returns (%): 20Hero Honda Motors Ltd. 1-year returns (%): 16Castrol India Ltd. 1-year returns (%): 12GlaxoSmithKline Pharmaceuticals Ltd. 1-year returns (%): 9Godrej Consumer Products Ltd. 1-year returns (%): 6Asian Electronics Ltd. 1-year returns (%): -956Prajay Engineers Syndicate Ltd....
NEW DELHI/BANGALORE: Some large investors in Satyam Computer Services are understood to have approached rival firms and buyout funds to sellSatyamB Ramalinga RajuAll about Satyam-Maytas deal |Deal dropped due to investors reactiontheir stakes and even push for its takeover, putting more pressure on the management of India’s fourth-biggest software exporter that has been hauled over the coals after the two botched Maytas acquisitions.Institutional...
HYDERABAD: The price of the beleaguered Satyam Computer share plunged by 19% on Wednesday, hitting a 52-week low of Rs 114.65, but narrowed downthe losses by closing higher at Rs 134.95 on the Bombay Stock Exchange. This was in the wake of the news on Tuesday that the World Bank had barred the company from all its contracts for eight years.At Wednesday's closing price, the stock has lost 75% of its value from its May 2008 peak of Rs 544. For promoter...
Reuters War between nuclear-armed India and Pakistan over last month's militant attacks on Mumbai is seen as highly unlikely.Nevertheless, with tension high and fiery rhetoric coming from various quarters on both sides, conflict between the neighbours who have fought three wars since 1947 cannot be ruled out.Here is a look at some possible senarios for Pakistan in the event of war: War would bring a wave of patriotism and national unity, analysts...
Real estate sector is facing a worldwide slump during the current financial turmoil, with the properties in Asia Pacific being no exception. However, despite a dramatic change in the investing landscape, Asian economies have shown resilience. “The trend will see more traditional players shop for quality assets in major locations and investors will also be rebalancing portfolios to take advantage of better economic prospects in Asia,” according to...
No other year in recent times saw such wild mood swings in the Indian economy than 2008, which started on a strong note but ended on a weakCash2008 turned financial heroes to zeroes2008: Year of financial crisisCountries in recessionwicket in the wake of a general global slowdown and severe recession in some of the richest countries like the US and Japan. From economic expansion to performance of equity markets, and from export growth to industrial...
A bomb-rigged truck with government plates exploded in Lahore on Wednesday, killing one person in a heavily guarded neighborhood in the eastern Pakistani city where many government officials live. The target of the blast was probably a police officer who ran an operation that led to the death of a leader of Lashkar-e-Jhangvi, a militant group linked to Al Qaeda, in 2002, said Umer Virk, who is in charge of the Crime Investigation Department. The...
Thu, Dec 25 02:39 AMIn the first instance of cyber attack on Indian government websites, the attack on Eastern Railways site on Wednesday popped open vulnerability of government websites in the country.While Eastern Railway took almost two and half hours to restore the site to normalcy, visitors to the site continued to be attacked by Trojan virus. ER officials could only primarily trace the roots to Toronto in Canada after repeated top-brass meetings...
