Archive

Hitachi buys IBM’s hard-disk drives div for $2.05 b

By : CIOL Bureau

IBM has finalised the sale of its non-performing hard-disc drive business to Hitachi Ltd. The deal, worth $2.05 billion will see Hitachi owning 70 % of the newly created hard disk drive company initially.

HSBC launches e-banking in China

By : CIOL Bureau

Tapping the fast-growing online users in the Chinese market, HSBC and Bank of East Asia, Hong Kong’s fifth largest lender have started offering the Internet banking service in China.

Silverline posts Rs 6.47 cr loss in Q1

By : CIOL Bureau

As compared to a net profit Rs 13.88 crore in the quarter ended September 30, 2001, Silverline Technologies has reported a net loss of Rs 6.47 cr in Q1.

Samsung to spend $1.2 b on chip technology

By : CIOL Bureau

In order to cut costs in the face of a stubborn downturn in the semiconductor industry, Tech giant, Samsung Electronics has invested $1.23 billion on upgrading its equipment and facilities to produce memory chips using next generation 12-inch wafers.

ChemoPlast forays into LCD monitors

By : CIOL Bureau

Faced with a downturn, as IT partners diversify into non-IT activities, a non-IT company, ChemoPlast manufacturer of nylon yarn for Apollo Tyres has announced its decision to enter the LCD monitors market.

Mastek may foray into BPO

By : CIOL Bureau

After much deliberation, Mumbai-based Mastek may soon announce its decision to enter the BPO segment. The company is seeking advice from external consultants to freeze a BPO strategy and, in all likelihood, will resort to the build-operate-transfer method to implement it.

J.P. Morgan, IBM in a $5 b, 7-year contract

By : CIOL Bureau

In a move to cut costs and optimize on operations, J P Morgan Chase& Co has signed a seven-year contract for information technology services with IBM. The $5 b deal is the largest services contract IBM has received from the financial services sector.

Eonour arm bags projects from GATI, Hyundai

By : CIOL Bureau

Eonour Technologies arm System Telecom and Data Services has bagged two separate deals with GATI and Hyundai. The company would deliver a system integration assignment for the GATI and a vendor quality management system for Hyundai.

Industry collaboration will improve education: Infy chief

By : CIOL Bureau

Denouncing the Indian academia that looks down upon selling knowledge to industries, Infy Chief Narayan Murthy said that universities and other institutions of higher learning must collaborate with the industry to develop an efficient workforce in the country.

Polaris-OrbiTech merger on, votes board

By : CIOL Bureau

The Polaris board has confirmed that the merger with OrbiTech would soon materialize and that it is awaiting approval of the Chennai High Court. Post-merger, existing Polaris shareholders would own 52.75% and Orbitech shareholders would own 47.25% of the merged company.

Phaneesh and Jaya Murthy launch new consultancy firm

By : CIOL Bureau

Former Infy sales head, Phaneesh Murthy has joined up with partner, Jaya Murthy to set up a outsourcing consultancy company. The new company, called Primentor would provide advisory services to partner/vendor selection, deal structuring and on-going contract administration.

DesignTech to distribute Altair’s product suite

By : CIOL Bureau

Design Tech Systems has been chosen as the sole distributor by Altair Engineering for its HyperWorks suite of products in India. This arrangement would provide Altair a comprehensive sales and support structure all over India.

TCS to implement banking solution for City Union Bank

By : CIOL Bureau

TCS has bagged a Rs 15 crore deal from the City Union Bank (CUB) to implement core banking and risk management solutions for the Tamil Nadu-based bank. According to the agreement, TCS would provide QUARTZ-based core banking software solution to CUB.

Agilent unveils RMS for mobile operators

By : CIOL Bureau

In a move to provide better services to mobile operators, Agilent Technologies has launched the Remote Monitoring System to address fault-detection and maintenance requirements of cellular service providers.

Global chip sales up 1.3 % in Nov-02

By : CIOL Bureau

During October to November period this year, the global chip sales have risen by 1.3 % to $12.68 b from $12.51 b. Chip sales traditionally accelerate in the run-up to the end-of-year holidays on the back of strong demand by electronics manufacturers for goods from computers and cellphones to toys and shavers.

Nasscom reiterates its demand for tax incentive

By : CIOL Bureau

Reiterating its demand for the proposed tax incentives of the Kelkar Committee, Nasscom has urged the Government to retain full tax exemption under section 10 A/ 10 B as originally envisaged.

Reliance Infocomm, the Rs 25,000 cr dream of Dhirubhai Ambani

By : CIOL Bureau

The recently launched Reliance’s venture promising affordable telecom facilities for the common man was the dream of Dhirubhai Ambani. Using state-of-the-art technology on the strength of a 60,000 km terabit capacity optic fiber network covering over 600 cities, Reliance Infocomm has created an overarching digital infrastructure for this venture.

India not to be perturbed by New Jersey Bill

By : CIOL Bureau

Much has been discussed and debated on the proposal to ban outsourcing of government contracts in New Jersey to companies outside the state. Experts feel that any concern over the proposal is unwarranted as it is expected to create no significant harm to the Indian IT and BPO services companies. Moreover, Nasscom has said that it would lobby with its US counterpart to stop its spread into other states.

Al-Jazeera to launch English website

By : CIOL Bureau

Aiming at the Western audience, the Arab satellite television channel, Al-Jazeera is gearing up to launch its English language website.

Boom time for storage market in India

By : CIOL Bureau

Gone are the days, when storage just meant storage space in the computer’s spindle drives or storing some important data in backup devices such as MO drives or Zip drives. Today, storage has become an integral part of an enterprise’s being, it brings an entire set of new solutions specifically designed for the purpose. Storage has been maturing significantly in India too, albeit at a relatively slow pace.