Situation in Bangalore continues to be tensed for the second day on Tuesday following the kidnapping of popular Karnataka matnee idol Rajkumar by forest brigand Veerappan. Most of the IT establishments remain closed.

Indian share markets will be more worried by what foreign funds do this week than by any potential knock-on effect from sickly US markets, dealers said.

NIIT will offer its expertise in technology and content creation to
classteacher.com, which has been developed on the concept of Internet driven virtual schools.

Kale Consultants’ acquisition of software products assets from
the British Airways consulting arm, Speedwing, is expected to bring in new
customers to the Indian company.

Wipro beats analysts’ projections by registering a steep 129%
increase in its net profit to Rs 107.70 crore on Rs 622 crore sales in first
quarter 2000-01.

Intel is said to be developing a next-generation Pentium IV processor that will work with various types of new solid-state memories.

A US court has ruled against a Florida yacht broker who claimed that Oracle President Larry Ellison owed him $700,000 in sales commission for purchasing a 192-foot yacht in 1996.

Move over Napster, enter Gnutella, Freenet, Napigator… With so
many Napster clones on the Web, the federal court ruling ordering the song-swap company to wind up its popular service may have little or no effect on its users.

JumpStartUP Venture Fund, a professionally managed venture capital
firm that will provide seed capital to technology start-ups, has begun
operations in Bangalore.

The Indian operations of Abu Dhabi Commercial Bank has selected
BankAway, an eCommerce platform from Infosys Technologies, for offering Internet banking services to its customers.

IBM plans to step up its direct selling efforts and enforce layoffs
in an effort to stem the losses of its PC business unit.

Automotive major Hero Group has announced twin tie-ups with the US
companies, NetContinuum and First Ring Inc. to mark its entry into the IT
sector.

Under yuva.com, the Karnataka government has tied up with reputed
training institutes like NIIT, Aptech and SSI to offer subsidized training
in IT-related services to unemployed youth in the state.

Microsoft has asked the Supreme Court to send its appeal of antitrust violations back to a lower tribunal, arguing the high court should not consider the “morass” of issues.

Verticalsoft has launched what it claims to be the world’s first
dedicated and focused Web site on adventure sports and eco tourism.

The Q1 revenues of Videsh Sanchar Nigam grew by a meager 3.93% to Rs 1,851 crore due to a fall in accounting rates.

Celebrating its 10th anniversary, VeriFone India has announced a
new strategy that would advance its positioning through development of
products and solutions in terminal appliances and eCommerce.

Probably not. Studies show that Napster members are the most music-savvy lot, and are likely to spend more on purchasing music CDs. And, even the Supreme Court may have a tough time finding a constitutional argument against Napster’s business.

Mancer Consulting, which offers placement services for the IT and
telecom sectors, plans to hold a series of placement fairs in six major Indian
cities.

Dell Computer Corp has set up a wholly owned Indian subsidiary that
would directly sell its computers in the country.