Satyam merger with Tech Mahindra ends an era of IT fraud

Finally, Satyam’s saga will end with the proposed merger with its parent company Tech Mahindra to form one of the top five IT companies in the country. The announced merger will create a behemoth of $2.4 billion company, with more than than 75,000 employees serving about 350 clients in 54 countries. “This would make us a company with an annual ...

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India successfully tests Interceptor Missile, fifth to join the club

India’s defence organization DRDO has conducted a successfully tested the interceptor missile — Defence Missile AAD-05, which has hit the ballistic missile and destroyed it at a height of 15 kms off the Coast of Orissa near the Wheelers Island. With this test, India becomes the fifth nation to have these ballistic missile defence capabilities in the world. Read More

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India State of Forest Report 2011: AP registers 281 sqkm decline

Twelve states/UTs have shown decrease in the forest cover to the extent of 867sqkm while AP’s decline of 281 sqkm is mainly attributed to harvesting of mature plantation of Eucalyptus and other species and in the norhte-east, it was mainly due to prevailing practice of shifting cultivation, said the India State of Forest Report 2011, released on Tuesday. Published biannually ...

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Ujjivan Microfinance raises Rs. 128 Cr ($25M) in 5th round of equity funding

Bangalore-based Ujjivan Financial Services, one of India’s major microfinance institutions, has raised Rs 127.9 Crore ($25.5 Million) in its fifth round of equity funding, with two new Foreign Institutional Investors participating in it. Investors who participated in the fifth round of funding include Lok Capital: Rs.100 Million, Sequoia Capital: Rs.100 Million, Mauritius Unitus Corporation: Rs.25 Million, Elevar Equity: Rs.125 Million, ...

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Challenge is to come up with smart internet regulations: Harvard expert

BOSTON: Ben Edelman is one of the world’ best-known experts on internet infrastructure and search engines. The Harvard Business School professor has written extensively on the influence of private forces on the internet architecture and its role in business. Edelman was in India last week on a brief lecture tour, where he addressed the country’s entrepreneurs on the future of ...

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No more textbooks? Apple’s ‘iBooks 2’ to revolutionize schools, study tools

Apple has announced its “iBooks 2” in New York on Thursday which is a textbook software program that allows instructors to program interactive teaching media for the iPad. It gives authors access to easy-to-use tools on the computer to create multimedia content for the iPad. Books created for iBooks 2 enable authors to create content for students, provide multiple-choice questions ...

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RIL announces biggest buyback, share up 5%

Mukesh Ambani-led Reliance Industries Limited (RIL) will go for one of its biggest every share buyout programs, which could possibly become one of the biggest such programs in the Indian corporate history. This move to buy back shares comes at a time when RIL is looking to boost its share price which has walked on a receding graph over the ...

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IBM develops 100 times powerful magnetic memory chip

In a major breakthrough after 30 years of nanotechnology research, scientists from IBM Research have successfully demonstrated the ability to store information in as few as 12 magnetic atoms, which can store 100 times the capacity of current disk drives, which use about one million atoms to store a single bit of information. The ability to manipulate matter by its ...

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Leonardo DiCaprio, Olivia Harrison to present director Martin Scorsese with the Critics’ Award

Hollywood actors Leonardo DiCaprio and Olivia Harrison will present “Hugo” director Martin Scorsese with the Critics’ Choice Music+Film Award, in addition to a special musical tribute from Bob Dylan at the 17th Annual Critics’ Choice Movie Awards, said BFCA. The event will be hosted by comedians Paul Scheer and Rob Huebel for the fifth year and will be aired on ...

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What PM said on hunger and malnutrition?

The following is the text of the Prime Minister’s address while releasing HUNGaMA (Hunger and Malnutrition) Report-2011 in New Delhi on Tuesday. “There are nearly 16 crore children in the country below the age of 6 years. In the years to come, these children will join our work-force as scientists, as farmers, as teachers, as data operators, as artisans, as ...

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UK inner city violence under radar again, with Bidve killing

By Supriya Tiwari LONDON: The murder of 23-year-old Indian student Anuj Bidve in Salford, Manchester, on Boxing Day in a completely unprovoked attack has outraged Britain, where memories of last summer’s infamous riots are still fresh in many minds. Bidve arrived from Pune in September 2011 to pursue a master’s degree at Lancaster University.  According to reports, he was with ...

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India announces new pension scheme for NRIs

The Pension and Life Insurance Fund (PLIF) for overseas Indian workers, which got the Union Cabinet’s nod on Wednesday, will only be valid for those who take proper immigration clearance before going abroad to work, according to Union Minister for Overseas Indian Affairs Vyalar Ravi. Speaking to the media at the curtain raiser for the Pravasi Bharatiya Divas, scheduled to ...

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Amazon’s LOVEFiLM partners with BBC, ITV

LOVEFiLM, an Amazon company, has partnered with BBC Worldwide and ITV in two separate deals to give its members streaming access to content from the channels. The subscription video on-demand (SVOD) deals include some of the  British programming of all time. TV titles will include the nation’s much loved Doctor Who, the critically acclaimed Life On Mars, spy drama Spooks, ...

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Deloitte eyes wider mobile tech services with Ubermind acquisition

Financial services and tech major Deloitte has announced the acquisition of Ubermind, a mobile technology firm for unknown sum. “Mobile technologies are rapidly reshaping the nature of business. This represents a significant opportunity for companies to develop new interaction models with customers, employees and stakeholders,” says Janet Foutty, national managing director, technology, Deloitte Consulting LLP. Based in Seattle, Wash., Ubermind’s ...

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India is free from Bird Flu: Ministry

India has declared itself free from bird flu (H5N1) as of Dec. 29, 2011 though it said the surveillance will continue, in the vulnerable areas bordering the infected countries and in areas visited by migratory birds. Department of Animal Husbandry, Dairying and Fisheries in the Ministry of Agriculture has advised the States to maintain vigil against the disease. Outbreak of ...

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3.15 lakh jobs created in 12th Quarter: India Labour Ministry Survey

The Ministry of Labour and Employment has released the twelfth quarterly survey on the effect of global financial crisis and economic slowdown in India since September 2008. The current survey conducted by the Labour Bureau covers the period July to September, 2011. In the twelfth quick employment survey, the sample establishments covered in the previous survey have been revisited to ...

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New paradigm shift in India’s welfare programmes

The government will focus on welfare measures in a broader perspective than before, said a statement from the Ministry of Women and Child Development. The paradigm shift in its approach to social sector issues, which were earlier only welfare oriented, will now look at holistic empowerment, especially of the marginalized.  The emphasis continues to be on empowerment and development of ...

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