India Business

The price of crude oil has risen yet again. It has now crossed the $145 a barrel mark and in all probability unless a miracle occurs tomorrow’s weekly inflation figures will also show a rise.

 by: Bharat Ratna

• Annual fees including all other expenses for schooling has been increased significantly from Rs.25,000 in the year of 2000 to Rs.65000 in 2008

 by Bharat Ratna

• Idea cellular bought 40.8% stake of Spice Telecom for Rs.2,716 Crores which was fourth largest in Indian Merger & Acquisitions.

• This deal gave Idea Cellular another 44-lakh subscribers of Spice Communications in Punjab and Karnataka circles in addition to owned 2.6-crore subscribers in 11 circles.

• Idea Cellular would get hold of crucial spectrum of licences recently got by Spice for operations in four more circles including Delhi, Tamil Nadu and Andhra Pradesh.

• The ‘Spice’ brand will be phased out over six months in the two circles.

The Birla group c

by Bhrata Ratna

• The world’s richest man, Bill Gates, is all set to step down as the Chairman of Microsoft on Friday.

• Mr Gates would always be remembered for his contribution in Microsoft and for spreading the IT revolution in the world.

• Mr Gates explained that Microsoft benefited because "most of our competitors were very poorly run”

• His future work includes finding new vaccines and financing projects in the developing world

Aditya Rao

Indian telecom circles have for long known that at one point or another Spice Telecom would eventually be bought by the Idea Cellular group. This week it finally happened with BK Modi finally deciding to part with his stake of almost 41% in the company to the Aditya Birla group run Idea Cellular.

Modi was very clear that he would indeed sell his stake in a company he drove to expansion and profits. Few can blame him simply because as big as it has gotten, Spice has over the past two years faced severe losses largely caused by the big

by Bharat Ratna

By Bharat Ratna

• Tokyo – Nikon has launched 10 new cameras to Indian market including 10.2 megapixel D60

• Prices range from Rs.7950/- to Rs.36,680/-

• These new models are from their DSLR and COOLPIX range

By Bharat Ratna

• GMR Infrastructure Ltd. acquired 50 percent of InterGen NV for $1.1 billion, the biggest overseas energy acquisition by an Indian company.

• InterGen, Dutch Power Company, has a total gross capacity of 12,766 megawatts, including 4,680 megawatts of projects under development

• After this stake, GMR can access InterGen's 12 operating power plants in the U.K., the Netherlands, Mexico, Australia and the Philippines

• Mr G.M. Rao, chairman of the GMR Group said that this acquisition will provide a platform to expand in InterGen's existing geographies and new geographies.

By Bharat Ratna

• Indivest Pte Ltd, an affiliate of GIC Special Investments ("GIC SI") will invest Rs 900 crores in Reid & Taylor through a fresh issue of shares and warrants
• After this deal of post-conversion, GIC SI would own 25.4 per cent of Reid & Taylor, valuing the company at Rs 3,540 crore
• This investment helps and strengthen Reid & Taylor business and their ability to grow in the luxury fabric and apparel and other textile segments.
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