Date: 11th May, 20081. Merck, a US based firm, has got patent rights for two of its drug from Indian patent office; however approval from Drug Controller General of India is awaited.
2. The two drugs which have got approval are: obesity and dyslipidemia.
3. Merck is a $24.2 billion company and in India its drug Januvia, an anti-diabetic drug, is patented.
4. Ranbaxy and Merck to form a strategic alliance for research and development of drugs.
5. TRAI do not want the participation of foreign telecom companies to bid for 3G.
6. India has surpassed US to become the second largest wireless market of the world after China.
7. India’s tele-density was 26.22 percent in March 2008.
8. Mahindra and Mahindra to increase the price of its vehicle by 1.5 % to 2.5%; it will come into effect from 19th May, 2008.
9. Government of India is planning to launch a de-hoarding campaign to control price rise.
10. Government of India mounts pressure on the cement industries to cut prices.
11. Kamal Nath, India’s Commerce and Industry Minister, and Susan Schwab, Trade Representative of United States, have decided to resolve contentious issues to facilitate the early conclusion of trade negotiations at Doha.
12. Bharat Heavy Electricals Ltd (BHEL) has acquired Bharat Heavy Plate and Vessels Ltd in order to establish a power plant.
13. Bangladesh informed TATA that it would be difficult for them to supply gas to TATA.
14. 35% stake has been taken by MOL Hungarian Oil and Gas Plc, a Budapest based firm, in the onshore exploration block of Oil and Natural Gas Corporation (ONGC) of India which is in the foothills of Himalaya.
15. ArcelorMittal has filed a case against US based Steel maker Esmark for breach of contract and demanded compensation of over Rs 2,000 crore.
16. Bharati Airtel of India is considering increasing its bid to 175 South African rand i.e. $22.63 to acquire MTN of South Africa.
17. India’s mutual fund assets jumps by 7% during April 2008 and touches Rs 565441.03 crore.
18. Aviation turbine fuel to be traded in India’s future market.
19. To distribute financial products Fidelity Fund Management and Federal Bank of Kerala has entered into an agreement. ]
20. Fund transfer on NGPAY, a mobile commerce network, will be possible for the customers of HDFC.
21. The services offered by NGPAY will include shopping, payments, accessing bank accounts and ticketing.
22. The Indian IT firms are targeting Africa and Middle East where spending on technology is growing rapidly.
23. According to research firm Gartner Africa, Middle East, Asia-Pacific, Eastern Europe and Latin America will be investing about $1.1 trillion in information technology during 2008.
24. By 2011 spending on information technology will reach to $1.3 trillion.
25. Government of India is planning to invest Rs 1000 crore in Air India to help it fight the competition from private players.
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