Dr. Reddy’s Laboratories and GlaxoSmithKline have now engaged in a strategic partnership which has caused the shares of the former to be in the limelight.  Under this partnership, the multinational drug maker will sell the domestic generic products of the firm in Latin America, Middle ...

Global search engine giant, Google, has said that it would not take part in censoring content or editing it on its network. But, the company would act to redress complaints, if any. Shailesh Rao, MD of Google India, said that the timeline to remove objectionable content is between 10 minutes and 24 ...

Anil Agarwal-led Sterlite Industries inked an agreement with US-based copper producer Asarco to purchase all the assets of the company.  According to a statement of Sterlite Industries, the company will acquire Asarco by paying an amount of $1.1 billion in cash and promissory note worth $600 ...

World's largest entertainment company Warner Bros has announced to outsource jobs to India. According to reports, the American entertainment giant will be outsourcing about 200 positions to India and Poland in the coming days. The company is also likely to slash about 10 percent of its ...

Leading software company Microsoft has decided to cut up to 5,000 jobs owing to global economic crisis. This is the first time that Microsoft will be slashing jobs in its history of 33 years. Microsoft 's job cut followed computer chip maker Intel's announcement of closing  five plants in ...

Leading Italy-based carmaker Fiat has inked a merger pact with US automobile manufacturer Chrysler. In a statement, Chrysler said that the agreement is still at preliminary stage. Although detailed information has not been disclosed yet, but sources said Fiat will receive an initial 35 per cent ...

The six nation Gulf Cooperation Council (GCC) is gearing up to discuss India-GCC FTA at the forthcoming GCC summit in Muscat, Oman next week. Diplomatic sources say that, the next GCC summit will features talks on issues relating to current global financial meltdown and GCC-India FTA. Such an FTA ...

French aircraft manufacturing company, Dassault Aviation has singed an agreement with the government to acquire Alcatel-Lucent’s stake in Thales. Under the agreement Dassault Aviation will pay about 1.57 billion euros ($2.24 billion) to buy nearly 21 percent stake in Thales. The transaction ...

To fend off the ill effects of an ailing global economy and to promote further economic integration within this region, Southeast Asian nations signed three economic agreements on Tuesday (16th December).
 
In light of the worsening health of the global economy growth in Southeast Asian ...

The public sector enterprise of India, National Aluminium Company Limited (Nalco) has entered into an agreement with Canada-based Rio Tinto Alcan (RTA) to expand its operation in India and abroad. Under the newly signed deal, both the companies will exchange information to enhance each other's ...

Walt Disney Company (South East Asia) has become the majority shareholder of the India-based UTV Software Communications by raising its stake to more than 50 percent.  Earlier in February, Walt Disney had invested $190 million in UTV Software and increased its stake from 14.85 percent to 37.29 ...

Former AOL chief, Jonathan Miller, is now considering to take over popular internet search engine and website company Yahoo Inc, a media report said. According to a report in The Wall Street Journal, Miller has been talking to private investors and sovereign wealth funds to raise about $28 to $30 ...

Goldman Sachs informed the media that it has ended negotiations to sell its stake in Sanyo, creating trouble for Panasonic's bid to turn Sanyo into a subsidiary and create one of the world's largest electronics companies. Goldman spokeswoman Miyako Takebe told a news agency that they walked away ...

Sun Pharma announced that its wholly-owned US subsidiary, Sun Pharmaceutical Industries, has acquired full ownership of Chattem Chemicals from Elcat. Chattem is registered with the US Drug Enforcement Administration (DEA) as a narcotic raw material importer.
The terms of the transaction were, ...

Kenneth Chenault, chief executive of American Express is among those being considered to replace Vikram Pandit, the Indian American chief of Citigroup Inc. Though Federal officials did not 'push' for the immediate ouster of Pandit as part of the pact with Citigroup, the Wall Street Journal ...

Aiming to capture the rising demand of air travel in the country, Vietnam on Tuesday (November 25) launched its first privately-owned flight “Indochina Airlines”.  The Airlines will operate four daily flights between the southern commercial center of Ho Chi Minh City and Hanoi.
It ...

Shareholders of the British-based Axon Group plc on Monday (November 24) approved the acquisition of their SAP consulting firm by India’s fifth largest IT bellwether HCL Technologies Ltd.
Announcing the acquisition, HCL chief executive Vineet Nayar told reporters that Axon investors by ...

Global banking giant HSBC's India arm is likely to spell the bad news of job cuts to employees soon. Media reports suggest that all employees have been put under the scanner and the pressure to outperform is tremendous. The situation is being monitored on a day-to-day basis and layoffs could start ...

The two biggest U.S. home loan finance companies, Fannie Mae and Freddie Mac announced that they would suspend foreclosures of occupied homes until early 2009, as the government moves to stem the tide of home losses plaguing the economy.
Regulators and lawmakers have leaned harder on the two ...

The Bank of New York Mellon Corp, blaming the weak global economy, has announced that it will axe its worldwide work force by 4 percent, or about 1,800 jobs. Bank Chairman and Chief Executive, Robert P Kelly on Thursday (November 20) said that given the current weakness in the global economy, the ...

JPMorgan Chase & Company is cutting 10 percent of its Investment banking staff - about 3,000 jobs - as the economic slowdown starts biting into its earnings. JPMorgan shares slid as much as 18 percent as one analyst said the cuts could reflect greater-than-expected weakness at the bank, long ...

Ford Motor Co has decided to sell 20 percent of its Mazda stake. The company is expected to earn an amount of $540 million by selling its stake. As per company official, the recent step has been taken to raise the badly needed funds. The Ford stake will be acquired by its business partner ...

Intending to bring down the total head count to less than 3,00,000, the global financial services giant Citigroup on Monday (November 17) announced that it will cut more than 52,000 jobs in the coming days. The steps, as the group believes, would reduce the expenses by 20 per cent in 2009. The ...

The co-founder of Yahoo, Jerry Yang is likely to step down from the post of the chief executive of the internet company.  Jerry Yang took the responsibility of Yahoo by replacing Terry Semel. He served as the chief executive officer of the company for around one and half year. According to a ...

India-based food processing company Himalaya International Ltd has decided to expand its grocery business in US. In order to fulfill its plan, the company has entered into an agreement with US-based grocery chain ALDI on October 29, 2008. The company is reported to sell its products in US under the ...

California-based networking-equipment maker Netgear Inc has announced to buy China's CP Secure Inc for 17.5 million US dollar. CP Secure Inc. is a security firm that provides of security solutions to protect against Internet-originated web and email based malware threat. According to the deal, ...

Nomura Holdings Inc, the biggest securities firm in Japan, has made a basic agreement to buy out the failed US investment bank Lehman Brothers Holdings Inc's units in India. This report was published by the Nikkei business daily of Japan. It also said that the Japanese security house is going to ...

Chairperson and Chief Executive of beverage giant PepsiCo Indra Nooyi on Sunday, September 21, 2008 announced an investment plan of a whopping $500 million in India. Addressing a press conference, she said that the huge investment is aimed at upgrading the capacity, infrastructure and research, ...

India, Brazil and South Africa signed the draft of a tourism co-operation deal at the ongoing Kerala Travel Mart (KTM) on September 21, 2008, to give the tourism and trade sectors in the respective countries a solid boost. The Kerala Travel Mart was inaugurated the day before on 20 September by ...

Videocon Industries and BPCL consortium has won an oil exploration contract in Brazil worth $283 million. The amount includes $118 million reimbursement to the Canadian firms’ expenses. Rest of the amount will be paid to the owner of acquisitioned firm. The consortium of Videocon and Bharat ...