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LATEST NEWS |
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 Title : Set to create significant number of jobs in India |
Decription : Just a week after the $3.9-billion Perot Systems buyout by Dell,even bigger a deal has hit the market on Monday with Xerox
Corporation announcing its acquisition of Dallas-based Affiliated Computer Services (ACS),a BPO provider,for $6.4 billion.The deal is expected to create ‘‘significant number’’ of additional jobs in India as cost optimisation is going to be great focus for Xerox.In fact,Xerox expects to achieve annualised cost synergies in the range of $300-$400 million in the first three years by using ACS’ back-office expertise to handle latter’s internal functions.
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| Title : Oil prices jump above $75 a barrel to 1-year high |
Decription : Oil prices jumped above $75 a barrel on Wednesday for the first time in a year on investor optimism crude demand will improve ahead of the Christmas shopping season.A weak dollar—which makes commodities cheaper for international investors—was also bolstering prices.Benchmark crude for November delivery was up 95 cents to $75.10 by afternoon European electronic trading on the New York Mercantile Exchange.The price reached $75.15 earlier in the day,the highest since October 2008.The contract gained 88 cents to settle at $74.15 on Tuesday.
Oil has traded between $65 and $75 since May as traders have considered mixed crude supply and demand data.
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| Title : Cipla launches drug to treat Swine flu virus |
| Decription : Drugmaker Cipla on Wednesday launched its generic version of Roche's Tamiflu, used in the treatment of the H1N1 swine flu virus. The drug has been cleared by the WHO cleared and it will now be available in select drug stores in India
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| Title : Biocon may launch oral insulin drug by 2011 |
| Decription : Bangalore-based biotechnology firm, Biocon, plans to launch an oral insulin drug by early 2011 and is in talks with a few firms for licensing it, a top company official said."If everything goes well, we hope that the product will enter the Indian market by early 2011," Biocon Chairman and Managing Director Kiran Mazumdar Shaw said in Mumbai.The company hopes to sign the licensing agreement next year depending on the outcome of the final phase of trial and after securing the regulatory approval, Shaw said
The new oral insulin drug is a new proprietary insulin, which can be delivered at room temperature, she said. The company is also planning to launch another drug called anti-CD6 monoclone antibody in near future to treat rheumatoid arthritis and psoriasisBiocon has targeted a turnover of Rs 2,000 crore for FY'10 compared to Rs 1,500 crore last fiscal, Shaw said.
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| Title : HDFC Standard Life products under “Super” series compliant with new ULIP guidelines |
| Decription : This week HDFC Standard Life launched two products – HDFC Young Star Super and HDFC Pension Super – which are compliant with the “cap on charges” guidelines for unit linked products issued by IRDA
Young Star is HDFC Standard Life’s flagship child product; in fact HDFC Standard Life has been the dominant player in the Child Product segment of the Indian Life Insurance Market.
Under this segment, the policy pays sum assured on death of the life assured (almost always the parent) and funds the future premiums of the unit linked products, thus generating a corpus for the nominee (usually the child) at maturity. This version of Young Star offers bonuses at maturity if some conditions are fulfilled during the contract
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| Title : TCS plans to hire 11,000 this quarter |
Decription : India's IT major TATA CONSULTANCY SERVICES(TCS) is planning to hire 8,300 trainees and around 3,000 laterals in Q4 FY10.
"We have already employed 8,703 trainees in Q3 and expect to add 8,300 more trainees in Q4 FY10. We have also hired 3,000 laterals in Q3 and given the growth we may continue to hire in Q4 as well," TCS' vice-president and head (Global Human Resources) Ajoyendra Mukherjee was quoted as saying by PTI.
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