Bharti goes in for recast -- Demerger of telecom services, hive-off of overseas and software divisions
DOMESTIC telecom major, Bharti Enterprises, on Wednesday announced an exhaustive internal business as well as management restructuring, entailing demerging its telecom services from hardware manufacturing businesses and hiving off of the overseas as well as software business into a separate firm.

Sun Infoways to buy Zap in Rs 475-cr stock deal
THE Mumbai-based Sun Infoways Ltd has announced its decision to acquire Zap Infotech, an integrated software service provider, in a Rs. 475-crore all-stock deal.

$ demand pushes Re further south
THE rupee slide continued unabated today with banks and corporates rushing to meet their dollar requirements. The heavy demand for the greenback pushed the rupee down to its third consecutive record closing low of 45.32/33 to the dollar. It had closed at 45.15/17 on Tuesday and has now nosedived by more than 45 paise in the past three days.

IA invites bids from Boeing, Airbus
INDIAN Airlines has invited technical and financial bids for its fleet acquisition programme for the ensuing five years from Boeing Company and Airbus Industrie. The final date for receipt of these bids has been fixed as August 21.

Software exporters may gain in short-term
THE falling rupee may translate into a short-term increase in profitability for Indian software exporters. However, depreciation is unlikely to have any significant impact on exports in the long run.

ICICI Bank hikes PLR
ICICI BANK has taken the lead in hiking the PLR. The bank on Wednesday announced a hike in its tenor-linked PLR by 50-75 basis points across-the-board, effective August 3.

National long distance phone norms finalised
THE Telecom Commission on Wednesday finalised the terms and conditions for opening up the national long distance (NLD) telephony to private firms, ending the monopoly of the incumbent Department of Telecom Services (DTS).

`India casts biggest Net in Asia-Pacific'
INDIA records the highest Internet user growth rate in the Asia-Pacific region and is the fifth largest Internet-user market in the same region, says a Gartner India report on Indian Internet surfing behaviour.

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