Infosys to fund $150,000 award
Infosys Technologies and Association for Computing Machinery have signed an agreement to create a new annual award that recognises young scientists and system developers whose contemporary innovations are having a “dramatic impact” on the computing field. The award, to be known as the ACM-Infosys Foundation Award in the Computing Sciences, would seek candidates globally and carry a prize of $150,000, an Infosys statement said in Bangalore on Tuesday. The first recipient would be announced in early 2008. The award honours contributors to a range of computing applications, including computer architecture, humanitarian initiatives, software and technical advances. Wi-Fi Alliance appoints Wipro Wipro Technologies announced on Tuesday that it will serve as a Wi-Fi Alliance authorised test laboratory. The Wipro facility in Bangalore will streamline certification and provide faster time to market for Wi-Fi certified products for members located in India and other areas in Asia.
The number of Wi-Fi devices shipped globally and in India continues to grow as more consumer products incorporate Wi-Fi technology, such as mobile phones and digital cameras. The Wi-Fi market in India is expected to exceed $744 million by 2012. Hyundai gets new certification
Hyundai Motor India Limited was awarded ‘The Premier Trading House Certificate’ on Tuesday. Hyundai become the first automobile company in India to receive the five-star certification. Hyundai has exported 400,000 cars as on July 31 and has crossed the Rs 10,000 crore mark. Premier Export House Status is based on the total export performance during the previous three years.
The five-star certification would have multifarious advantages for Hyundai in terms of facilitation in export import transactions. It would enable them to get licence and custom clearance for both export and imports on self declaration. They will also be exempted from compulsory negotiation of documents through bank with the remittance to be received through bank. Can Bank’s two new schemes Canara Bank on Tuesday launched two new schemes SB Gold (Savings Bank) and Can- Premium current account for their high networth individuals. The schemes come with a host of value added services including free debit & credit cards, free anywhere banking facility, Internet & mobile banking facility with free funds transfer, telebanking, issue of DDs at concession, waiver of folio charges, name printed cheque books, etc. In order to avail these facilities, the customers need to hold an average monthly balance of Rs one lakh in their operative accounts. They also enjoy the facility of sweep in sweep out, whereby the balances held beyond Rs one lakh earn interest at rates applicable to term deposits. Interactive car portal launched
Following up on its soft launch two months ago, India’s first interactive car portal, CARAZOO.COM was formally launched in Bangalore on Tuesday. CARAZOO.COM is a one-stop portal catering to the requirements of car buyers/sellers, manufacturers, dealers, financers and insurance providers and accessories suppliers. Moving away from the staid look, Carazoo hosts interactive animations for each car that enables the viewers a “touch and feel” experience. One can paint cars in different colours too. In addition Carazoo provides comprehensive information on all types of new and used cars, claimed the company. BHEL bags Rs 6,500 cr deals Bharat Heavy Electricals Ltd has won Rs 6,500-crore contracts for setting up two plants of 500 MW each at Koderma Thermal Power Station (TPS) in Jharkhand and two units of 500 MW each at Durgapur Steel TPS in West Bengal. BHEL’s scope of work in the contract envisages manufacture, supply, erection testing and commissioning of steam turbines, generators, boilers and associated auxiliaries, the company said in New Delhi on Tuesday. India’s outbound M&As booming Indian companies have made 143 acquisitions in foreign countries in the first seven months of the current year for $28 billion, a study by Grant Thornton said, reports PTI from Mumbai.
Outbound deals have grown from $4.3 billion in 2005 to $9.9 billion in 2006 to $28 billion plus this year so far. While inbound deals have grown from $5.1 billion in 2005 to $5.4 billion in 2006 to $14.7 billion in 2007 year to date, the study said. The 143 acquisitions made by Indian companies abroad was more than double the number of acquisitions made by international companies in India (inbound deals at 62).
The value of outbound acquisitions was almost double the inbound acquisition value. Indian companies are acquiring more and more international business.
