Who said Y2K is a bug? For us Indians, it has been a blessing with some of the most powerful corporate leaders, not to speak of the heads of governments, visiting the country, to further promote IT in the country.

Hewlett Packard has announced that it would set up a worldwide e-speak support centre and a mobile e-services bazaar in Bangalore.

US-based Gray Cell Inc., which has changed its name to Unimobile.com, is currently looking for a second round of venture funding.

Home prices and stock values are not the only types of property that are experiencing skyrocketing price hikes in Silicon Valley. Office space rates have jumped to an average $51 per square foot per year, up from less than $25 three years ago.

Less than a month after going public as an independent spin off from 3Com, Palm Computing reported that it achieved a third-quarter profit of $15.5 million, up from $8.7 million a year ago.

KVP Venture, Rs 1100 crore venture capital fund, floated by Australian media baron Kerry Packer, has announced strategic investments in four software and Internet companies, including Walchand Netsoft and Hexaware Technologies.

Just hours before he was expected to find Microsoft guilty of having violated U.S. antitrust law, Federal Judge Thomas Penfield Jackson granted a last minute request by Microsoft and the DoJ to give them 10 days to work out a settlement in the case.

Two days after competitor Cisco launched integrated telephone and data networking equipment, Lucent Technologies announced plans for the industry’s first Internet video network systems.

IBM is investing some $400 million in the marketing of the Shark product line in an effort to compete more effectively with rival EMC, the top seller of business storage systems.

In the aftermath of the series of attacks on popular Internet Web sites two months ago, which so far have produced no arrests, the US Federal Bureau of Investigation (FBI) has asked the US Congress for more money to fight cyber crime.

Kemefs E-Solutions Pvt. Ltd., the Bangalore based e-commerce solutions provider, has announced the launch of a new subsidiary, Zatang.com, an interactive, online youth forum.

Bill Gates has invited about 200 politicians, bureaucrats and friends from all over the world for two days of brainstorming, on the “future of the net” and “the use of the net in education”.

Wipro has announced that its board of directors had passed a resolution to raise equity in the overseas market in the form of either ADRs or GDRs. Wipro is also seeking approval from the Reserve Bank of India for acquiring companies overseas.

Texas Instruments has launched “Damini” a family of seven receiver integrated circuits from the mixed signal products group. Damini devices, support the emerging Digital Visual Interface standard for interfaces to high-resolution digital displays.

The Delhi High Court has stayed the Income Tax Department order freezing all bank accounts of Mahanagar Telephone Nigam Ltd. (MTNL) while asking it to pay Rs 200 crore towards its income tax arrears by March 30.

GartnerGroup has acquired TechRepublic, the leading online destination developed exclusively for IT professionals by IT professionals.

Covad Communications Group, Inc and CenturyTel, Inc. are among the international investors who have invested a total of US $70 million in DishnetDSL Limited, the Chennai-based ISP.

IBM and Cisco Systems have entered into an agreement under which IBM Learning Services will become an authorized Cisco Learning Partner.

After a week-long see-saw battle of which company is the most valuable on the planet, Cisco appears to have gained a decisive lead as it passed Microsoft. On Monday, as Microsoft’s stock market value dropped $40 billion to $541 billion, Cisco rose by $55

The Karnataka state Budget for 2000- 2001, which is also the maiden budget of the Congress government, has laid stress in the area of information technology.