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Wednesday, March 02, 2005

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ANNOUNCEMENTS


i-flex tool ranking
MUMBAI: i-flex Solutions' flagship product FLEXCUBE has been ranked the world's number one selling core banking solution for 2004 by International Banking Systems, UK, in its annual sales league table for the third consecutive year, said a ... More

PREFERENTIAL ALLOTMENTS


Megasoft allots pref shares to non-promoters
THE board of directors of Megasoft Ltd has allotted to non-promoters nine lakh convertible redeemable preference shares of Rs 100 each. Each share is convertible into two equity shares of face value of Rs 10 each at a price of Rs 50 a share, ... More

TELECOMMUNICATIONS


Telecom gear makers upbeat
THE telecom industry said that the Budget proposals would provide an impetus to local manufacturing. "The proposals are clearly directed to bring down the cost of setting up infrastructure. It will provide a fillip to local manufacturing even as ... More

TRAI seeks powers to penalise erring operators
THE Telecom Regulatory Authority of India is pitching in for powers to impose penalty on operators that offer services below the prescribed quality norms. Interestingly, the telecom regulator has sought the opinion of the service providers ... More

Work on undersea cable system begins
THE cable laying operation connecting Mumbai as a landing point in the undersea cable system Sea-Me-We-4 has begun, announced Videsh Sanchar Nigam Ltd, one of the consortium members of the system. Sea-Me-We-4 will link France with Singapore. ... More

STOCKS


GTL to convert FCCB to shares
MUMBAI: GTL Ltd has informed the BSE that it will allot 10.86 lakh shares of Rs 10 each to Foreign Currency Convertible Bond (FCCB) holders. This allotment is on their exercise of right to convert FCCBs worth Swiss Francs (SFr) 30,00,000 ... More

TAXATION


HCL tax case: Tribunal adjourns hearing
THE Income Tax Appellate Tribunal on Tuesday adjourned the hearing on a dispute relating to Rs 800 crore demand notice raised by Income Tax Department on HCL Corporation. The next hearing is slated for May 17, 2005. It may be recalled that ... More

HARDWARE


`In the right direction for hardware sector'
Hardware manufacturing will see a renewed vigour and will encourage local manufacturers to invest in new capacity expansion. The import value-added tax of four per cent on input will bridge the gap between local manufacturing and full system ... More

SOFTWARE


Fringe tax to bite deeper into smaller IT cos
As a knee-jerk reaction, while the money implications are huge, the philosophy and the concept are worrisome, says Mr Kiran Karnik. More

Cognizant Tech's retail practice `expanding fast'
COGNIZANT Technology Solutions has announced that its retail practice continues to expand rapidly. It counts six out of the top 20 retailers worldwide as customers, according to a company press release. Cognizant has several solutions for ... More

Syntel to spend $20 m on capex in India
SYNTEL Inc, the $187-million US-based information technology firm, plans to spend around $20 million (Rs 90 crore) on capital expenditure in India during 2005. It plans to recruit about 1,500 employees during the year for its development ... More

Satyam to localise team in W.Asia
SATYAM Computer has embarked on a programme to localise its team in West Asia with regional recruitments and plans fourth regional office in Saudi Arabia while developing Dubai as base. It has struck a strategic partnership with Dubai-based ... More

PEOPLE


Dhawan, MD of Oracle India
NEW DELHI: Oracle India Pvt Ltd, a wholly-owned subsidiary of Oracle Corporation, on Tuesday announced the appointment of Mr Krishan Dhawan as its new Managing Director, with immediate effect. "Mr Dhawan brings with him more than 25 ... More


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Top Stories
Exporters not enthused by Budget plans


Partnership firms will have to file I-T returns

Experts seek rollback of cash withdrawal tax

Ashok Leyland mulls plant in North India

Net worth floor for private banks fixed at Rs 300 cr

`In the right direction for hardware sector'

Fringe tax to bite deeper into smaller IT cos

In Focus

BHEL Disinvestment
The Yuan Revaluation
Dabhol power regenerated
Tracking the rains
Sethusamudram Canal Project
India Inc's overseas acquisition
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In Depth

Gender Justice
Simple Economics
Tax Talk
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Looking back
Feb. 20-Feb. 26
EMC sees India as high growth market

MTNL to float Rs 2,000-cr tender for 40 lakh GSM lines

Telecom, banking sectors boost PC sales 14 pc in Q3


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