Sasken, EMS SATCOM tie-up
Sasken Communication Technologies announced on Friday that it has entered into an agreement with EMS SATCOM, a division of EMS Technologies, Inc, to provide essential software for the design of a next- generation dual-mode satellite and GSM mobile phone for Inmarsat.  The new Inmarsat phone, targeted for launch in early 2009, will offer remote field & aid operations and other private and government agencies communications reach and capability across remote corners of the world.

IFC to get stake in K’taka Bank
The board of directors of Karnataka Bank on Friday in Mumbai approved a proposal to issue 63.73 lakh equity shares of Rs 10 each to International Finance Corporation (IFC), Washington on preferential basis. Even as the allotment was on preferential basis as per SEBI (DIP) Guidelines, the Bank was not forthcoming on the pricing of shares in its official release. All the same, the Bank at its board meeting has resolved to convene an extraordinary general meeting on October 31, 2007 to obtain clearance from members of the Bank. Meanwhile, the board has also resolved to issue upper tier-2 bonds, on private placement basis, to IFC for $10 million.

dishtv ropes in Shah Rukh Khan
dishtv announced on Friday that it has roped in the Bollywood star Shah Rukh Khan, as its brand ambassador. The company has also launched an advertising campaign with a new theme. This theme will go a long way in reinforcing the attributes of the brand and reiterate its positioning, claimed the company. This campaign will be launched through multi-media across the country.

Business Objects’ centre in City
Business Objects, a global provider of business intelligence (BI) solutions, on Friday in Bangalore announced the opening of its India Development Centre (IDC).“IDC will enable us to effectively maximise our R&D facilities while maintaining our focus on bringing localised products faster to the market,” said Business Objects’ Senior VP & GM, APAC and Japan, Keth Budge in a statement.

LIC's health insurance foray
The state owned Life Insurance Corporation of India (LIC) on Friday said it is in the process of filing a health insurance product with the Insurance Regulatory and Development Authority (IRDA) within a fortnight, reports DHNS from Mumbai. Hoping to get the clearance in a month’s time, LIC said the health insurance product will be a long term product with a term of more than ten years. It will also have a unit linked insurance component built into it.

ING Vysya to sell shares to parent
ING Vysya Bank, the Indian unit of ING Groep NV, the largest Dutch financial services company, plans to sell shares to raise funds, reports Bloomberg from Mumbai. The board of directors of the Bangalore-based bank will meet on Saturday to decide on the proposal to sell shares to its parent and some institutional investors, ING Vysya said in a statement.

Jet buys twenty   Boeing 737-800s
Jet Airways India on Friday in Mumbai announced that it has purchased 20 Boeing 737-800 aircraft with an option for 10 more. The 20 aircrafts will be delivered between October 2012 and December 2014, with the additional 10 having delivery positions between August 2013 and February 2015, the Company said. Going by the official web site of Boeing, the 20 aircrafts acquired by Jet have a current book value of $1.4-$1.6 billion.

Avesta acquires German company
Avesta Biotherapeutics and Research Pvt Ltd (ABRPL), a joint venture between Avesthagen and Meditab Specialities Ltd (CIPLA group), announced the acquisition of Siegfried Biologics GmbH, a fully owned subsidiary of the Siegfried Group in Switzerland. 

Bangalore-based ABRPL, will manufacture a series of biopharmaceuticals for the global markets with an initial focus on the BRIC markets.